September 11, 2017 / 4:14 AM / 2 months ago

India Ratings for Indian debt instruments – Sep 11

    Sep 11 (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 8, 2017.

COMPANY                         INSTRUMENT             RATING           AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                          ----------             ------           ------   ---------
SHORT TERM RATINGS:
-------------------
Kerafibertex International Pvt  Non- fund- based WC    IND A4+          32.5     Affirmed
Ltd                             limits
Krishna Coil Cutters Pvt Ltd    Non- fund- based limitsIND A3(SO)       400      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Krishna Sheet Processors Pvt LtdNon- fund- based limitsIND A3           600      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Tribeni Constructions Ltd       Non- fund- based limitsIND A2           850      Affirmed
Tribeni Constructions Ltd       Proposed non- fund-    Provisional IND  50       Affirmed
                                based limits*          A2
*The rating is provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facility by TCL to the satisfaction of Ind-Ra.

LONG TERM RATINGS:
-------------------
Arpit Projects Ltd              TL                     IND D            1490     Downgraded
Bangalore Airport Hotel Ltd     TL                     IND A+           3050     Upgraded
Bangalore Airport Hotel Ltd     Proposed non-          Provisional IND  3020     Assigned
                                convertible            AA+(SO)
                                debentures (NCDs)
Gold Plus Glass Industry Ltd    TL                     IND BB+          4114.1   Assigned
Gold Plus Glass Industry Ltd    Non- convertible       IND BB+          811.4    Assigned
                                debentures (NCDs)
Gold Plus Glass Industry Ltd    Fund- based WC limits  IND BB+/ IND A4+ 540.9    Assigned
Gold Plus Glass Industry Ltd    Non- fund- based WC    IND BB+/ IND A4+ 345      Assigned
                                limits
Kerafibertex International Pvt  Fund- based WC limits  IND BB+          450      Affirmed
Ltd
Krishna Coil Cutters Pvt Ltd    Fund- based CC facilityIND BBB-(SO)/    200      Migrated to
                                                       IND A3(SO)                Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Krishna Sheet Processors Pvt LtdFund- based CC facilityIND BBB-/ IND A3 350      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Raghunandan Jewellers (Delhi)   Fund- based limits     IND B+/ IND A4   90       Long- term
Pvt Ltd                                                                          rating
                                                                                 upgraded;
Short- term rating affirmed
Shri Trust G 2015               Series A2 pass-        IND AAA(SO)      362.5    Affirmed
                                through certificates
                                (PTCs)
Shriram Epc Ltd                 Fund- based WC limits  IND D            4240     Downgraded and
                                (long- /short- term)                             Migrated to
                                                                                 Non-
Cooperating Category
(ISSUER NOT COOPERATING)
Shriram Epc Ltd                 Non- fund- based       IND D            6706     Downgraded and
                                limits (long- /short-                            Migrated to
                                term)                                            Non-
Cooperating Category
(ISSUER NOT COOPERATING)
Shriram Epc Ltd                 TL (long- term)        IND D            18231.7  Downgraded and
                                                                                 Migrated to
                                                                                 Non-
Cooperating Category
(ISSUER NOT COOPERATING)
Tamil Nadu Road Development Co. Bk loans               IND BBB+         2160     Affirmed
Ltd
Tribeni Constructions Ltd       TL                     IND BBB          90       Affirmed
(increased from 80 MLN)
Tribeni Constructions Ltd       Fund- based limits     IND BBB          240      Affirmed
Tribeni Constructions Ltd       WC limits**            IND BBB/ IND A2  95       Affirmed
**can be used as either fund-based or non-fund-based
Tribeni Constructions Ltd       Proposed fund- based   WD               60       Withdrawn-
                                limits                                           (issuer is no
                                                                                 longer
proceeding with the instrument as envisaged )
Ucn Cable Network Pvt Ltd       CC facility            IND BBB-         150      Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Ucn Cable Network Pvt Ltd       Proposed TL            Provisional IND  50       Migrated to
                                                       BBB-                      Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Ucn Cable Network Pvt Ltd       Proposed CC facility   Provisional IND  50       Migrated to
                                                       BBB-                      Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Vikas Technoplast Pvt Ltd       TL                     IND BB-          16.8     Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
Vikas Technoplast Pvt Ltd       Fund- based limits     IND BB-/ IND A4+ 30       Migrated to
                                                                                 Non-
                                                                                 Cooperating
                                                                                 Category
(ISSUER NOT COOPERATING)
-----------------------------------------------------------------------------------------------
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)

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