October 4, 2019 / 4:27 AM / 11 days ago

India Ratings for Indian debt instruments – Oct 4

    Oct 4 (Reuters) - Below are the ratings awarded by India Ratings and Research Private Ltd
(India Ratings), formerly known as Fitch Ratings India for local debt instruments as of
October 3, 2019.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
------                          ----------                  ------       ------   ---------
Indian Acrylics                 Non-FB limits          IND A4+          2113.7   Assigned
Tata Housing Development CompanyCP                     IND A1+          10000    Affirmed

Acme Jaipur Solar Power         TL                     IND A-/Stable    9100     Assigned
Fortum Finnsurya Energy         TL                     IND AA/Stable    2296.73  Assigned
Fortum Finnsurya Energy         Buyers’ credit facilityIND AA/Stable    -        Assigned
Indian Acrylics                 FB WC limits           IND BB/Stable    300      Assigned
Indian Acrylics                 Long-TL                IND BB/Stable    1086.3   Assigned
Medha Servo Drives              FB Fac                 IND              520      Affirmed
                                                       A+/Stable/IND A1+
Medha Servo Drives              Non-FB Fac             IND              16330    -
                                                       A+/Stable/IND A1+
(Long-Term Rating Assigned; Short-Term Rating Affirmed)
Medha Servo Drives              Non-FB Fac*            IND              250      Assigned
                                                       A+/Stable/IND A1+
*The assignment of the final rating follows the receipt of the final documents conforming with
the information already received by Ind-Ra.
Vivriti Valhalla 09 2019        Series A2 PTCs         Provisional IND  51.9     Assigned
Vivriti Valhalla 09 2019        Series A1 pass-through Provisional IND  266.4    Assigned
                                certificates (PTCs)    AA(SO)/Stable

Note:- All Indian National-scale ratings previously assigned by Fitch have been transferred to
India Ratings & Research Private Ltd (India Ratings), which is a wholly owned subsidiary of the
Fitch Group. The withdrawn criteria are now available on India Ratings' website at

$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

INDIA RATINGS may apply + or - signs for ratings to reflect a comparative standing within the

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures; RWN- Rating
Watch Negative;
RWN- Rating Watch Evolve.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222, E-mail at
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