October 9, 2017 / 4:22 AM / 4 months ago

India Ratings for Indian debt instruments – Oct 9

    Oct 9 (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 6, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
------                          ----------             ------           ------   ---------
Akashganga Infraventures India  Non- FB WC limits      IND A3           255      Downgraded
Prism Cement Ltd                Unsecured short- TL    IND A1           3000     Affirmed
Prism Cement Ltd                CP programme           IND A1           2000     Affirmed
Prism Cement Ltd                Non- FB WC limits      IND A1           3850     Affirmed
Tata Housing Development Co. LtdCP                     IND A1+          10       Assigned
Vns Accessories Pvt Ltd         FB  WC limit           IND A4+          240      Migrated to

Prism Cement Ltd                Term deposit programme IND tA           1000     Affirmed

Akashganga Infraventures India  FB WC limits           IND BBB- / IND A3220      Downgraded
Akashganga Infraventures India  TL                     WD               9.2      Withdrawn
Ltd                                                                              (repaid in
Hathway Cable & Datacom Ltd     TL                     IND A- / IND A2+ 6130     Affirmed
(reduced from INR8,940)
Hathway Cable & Datacom Ltd     TL                     IND A- / IND A2+ 950      Assigned
Hathway Cable & Datacom Ltd     FB CC limits           IND A- / IND A2+ 300      Affirmed
(reduced from INR1,900)
Hathway Cable & Datacom Ltd     Non- FB Fac            IND A- / IND A2+ 3553     Affirmed
(reduced from INR9,776)
Hathway Cable & Datacom Ltd     Unsecured loan         WD               1000     Withdrawn
                                                                                 (repaid in
Hathway Digital Pvt Ltd         CC facility            IND A-           1400     Assigned
Hathway Digital Pvt Ltd         TL                     IND A- / IND A2+ 7588.2   Assigned
Hathway Digital Pvt Ltd         Non- FB Fac            IND A- / IND A2+ 1313.6   Assigned
Hmr Steels Pvt Ltd              FB limit               IND B+           220      Affirmed
(increased from 190)
Hmr Steels Pvt Ltd              Non- FB Limit          WD               30       Withdrawn
                                                                                 (paid in full)
Irb Infrastructure Developers   Non- FB Bk Fac         IND A+/ IND A1+  11000    Upgraded
Irb Infrastructure Developers   TL                     IND A+/ IND A1+  21066    Upgraded
(increased from 20,410)
Narsimha Iron And Steel Pvt Ltd FB WC limit            IND BB-          50       Assigned
Narsimha Iron And Steel Pvt Ltd Long- TL               IND BB-          75       Assigned
National Trust Housing Finance  Long- TL (Bk loans)    IND BBB          2500     Affirmed
Nrss Xxxi (B) Transmission Ltd  Unsecured NCDs  (NCDs) IND AAA(SO)      6800     Assigned
Nrss Xxxi (B) Transmission Ltd  Bk loans               WD               6000     Withdrawn
                                                                                 (repaid in
Prism Cement Ltd                NCDs (NCDs)            IND A-           3000     Affirmed
(reduced from 5,500)
Prism Cement Ltd                FB limits              IND A-           4650     Affirmed
Rajkot (Gujarat) Solar Energy   TL                     IND BBB+         2218     Assigned
Pvt Ltd
Silica Ceramica Pvt Ltd         NCDs                   IND A- (SO)      750      Affirmed

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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