September 10, 2018 / 9:16 AM / a month ago

India Ratings for Indian debt instruments – Sep 10

    Sep 10 (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
September 7, 2018.

COMPANY                         INSTRUMENT             RATING         AMOUNT     MOVEMENT
                                                                     (RS.MLN)
------                          ----------             ------        ------      ---------
SHORT TERM RATINGS:
-------------------
Asian Tea Company Pvt Ltd       FB limits              IND A4+          300      Downgraded and
                                                                                 migrated to
                                                                                 Non Cooperating
                                                                                 category
Asian Tea Company Pvt Ltd       Non-fund- based limits IND A4+          50       Downgraded and
                                                                                 migrated to
                                                                                 Non Cooperating
                                                                                 category
Asian Tea Company Pvt Ltd       Proposed FB limit      Provisional IND  200      Downgraded and
                                                       A4+                       migrated to
                                                                                 Non Cooperating
                                                                                 category
Bhola Ram Steel Pvt Ltd         Non-FB facility        IND A4+          27.5     Affirmed
Cvs Infrastructure Pvt Ltd      Non-FB facility        IND A4+          10       Affirmed
Gramox Paper & Boards Ltd       Non-FB Fac             IND A4           12       Assigned
Kerafibertex International Pvt  Non-FB WC limits       IND A4+          32.5     Migrated to
Ltd                                                                              Non
                                                                                 Cooperating 
                                                                                 Category
Krishna Coil Cutters Pvt Ltd    Non-FB limits          IND A3(SO)       400      Maintained in
                                                                                 Non
                                                                                 Cooperating
                                                                                 category
Krishna Sheet Processors Pvt LtdNon-FB limits          IND A3           600      Maintained in
                                                                                 Non
                                                                                 Cooperating
                                                                                 category
Mahakali Ispat Pvt Ltd          Non-FB limit           IND A4           11.5     Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 category
Pre Unique (I) Pvt Ltd          Non-FB limit           IND A4           100      Affirmed
Raghuveer Metal Industries Ltd  Non-FB WC limit        IND A4+          40       Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 category
TP Buildtech Pvt Ltd            Non-FBL                IND A4           50       Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 category
Vasundhara Chem Plast IndustriesNon-FB WC limits       IND A4           20.4     Maintained in
                                                                                 Non
                                                                                 Cooperating
                                                                                 category

LONG TERM RATINGS:
-------------------
Asian Tea & Exports Ltd         FB limits              IND BB+ /IND A4+ 70       Downgraded
Bhola Ram Steel Pvt Ltd         FB limits              IND BB-          80       Downgraded
Cvs Infrastructure Pvt Ltd      FB facility            IND BB- /IND A4+ 140      Affirmed
Cvs Infrastructure Pvt Ltd      FB facility*           IND BB- /IND A4+ 20       Affirmed
*The final rating is assigned following the receipt of sanction letter by Ind-Ra.
Dolbi’S Granite Exports Pvt Ltd FB WC limits (LT/ST)   -                50       Withdrawn
Dolbi’S Granite Exports Pvt Ltd TL (LT)                -                37       Withdrawn
Dolbi’S Granite Exports Pvt Ltd Non-FB WC limits (ST)  -                15       Withdrawn
Gramox Paper & Boards Ltd       TL                     IND B            18.1     Assigned
Gramox Paper & Boards Ltd       FB Fac                 IND B /IND A4    70       Assigned
Gramox Paper & Boards Ltd       Proposed TL*           Provisional IND B10       Assigned
* The rating is provisional and shall be confirmed upon the sanction and execution 
of loan documents for the above facilities by GPBL to the satisfaction of Ind-Ra. 
ICA Pidilite Pvt Ltd            FB WC Fac              IND BBB+/ IND A2+170      Migrated to
                                                                                 Non
                                                                                 Cooperating
                                                                                 category
Kerafibertex International Pvt  FB WC limits           IND BB+          450      Migrated to
Ltd                                                                              Non
                                                                                 Cooperating
                                                                                 category
Krishna Coil Cutters Pvt Ltd    FB  CC facility        IND BBB-(SO)     200      Maintained in
                                                       /IND A3                   Non
                                                                                 Cooperating
                                                                                 category
Krishna Sheet Processors Pvt LtdFB CC facility         IND BBB- / IND A3350      Maintained in
                                                                                 Non
VLmj International Ltd           FB limits (long-/ST)   IND D           1840     Downgraded;
                                                                                 Off RWN;
                                                                                 Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Lmj International Ltd           Non-FB limits (ST)     IND D            3600     Downgraded;
                                                                                 Off RWN;
                                                                                 Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Mahakali Ispat Pvt Ltd          FB limit               IND B+           45       Migrated to
                                                                                 Non Cooperating
                                                                                 Category
Pre Unique (I) Pvt Ltd          FB WC limit            IND B /IND A4    10       Long-term
                                                                                 rating
                                                                                 upgraded; 
                                                                                 Short-term 
                                                                                 rating 
                                                                                 affirmed
Raghuveer Metal Industries Ltd  FB WC limit            IND BB /IND A4+  90       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Shri Shyam Warehousing And      FB WC limit (LT)       IND D            60       Downgraded
Power Pvt Ltd
Shri Shyam Warehousing And      TL (LT)                IND D            113.3    Downgraded
Power Pvt Ltd
Tp Buildtech Pvt Ltd            FB limits              IND B+ /IND A4   40       Migrated to
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Vama Woven Fab Pvt Ltd          TL (LT)                IND D            120      Maintained in
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Vama Woven Fab Pvt Ltd          FB limits (LT)         IND D            65       Maintained in
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Vasundhara Chem Plast Industries FB WC limits          IND B+           80       Maintained in
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
Vasundhara Chem Plast Industries Long-TL               IND B+           10.64    Maintained in
                                                                                 Non
                                                                                 Cooperating 
                                                                                 Category
-----------------------------------------------------------------------------------------------
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
www.indiaratings.co.in

$: 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
category.

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
rru.data@thomsonreuters.com)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below