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India Ratings for Indian debt instruments – Sep 19
September 19, 2017 / 8:11 AM / in a month

India Ratings for Indian debt instruments – Sep 19

    Sep 19 (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 18, 2017.

COMPANY                         INSTRUMENT                  RATING       AMOUNT   MOVEMENT
                                                                         (RS.MLN)
------                          ----------                  ------       ------   ---------
SHORT TERM RATINGS:
-------------------
AMT International               Non-FB WC limit        IND A4           50       -
Migrated to Non-Cooperating Category
Arihant Ship Breakers           Non-FB WC limits       IND A4           75       -
Migrated to Non-Cooperating Category
Durga Marble And Minerals       FB WC limit            IND A4           84       -
Migrated to Non-Cooperating Category
Fine Jewellery Manufacturing    Non-FB WC limit        IND A4+          78       -
Migrated to Non-Cooperating Category
R R Prestress Industries        Non-FB BG              IND A4           14.5     -
Migrated to Non-Cooperating Category
SAS International               Non-FB WC limit        IND A4+          30       -
Migrated to Non-Cooperating Category
Shakun Gases                    Non-FB limits          IND A4           190      -
Migrated to Non-Cooperating Category
Shiva Polytubes                 FB limit (standby line IND A4+          6.6      -
                                of credit)
Migrated to Non-Cooperating Category
Shiva Polytubes                 Non-FB limit           IND A4+          33.35    -
Migrated to Non-Cooperating Category
VED Cellulose                   Non-FB limits          IND A4+          60       -
Migrated to Non-Cooperating Category
Vijay Velavan Spinning Mills    Non-FB limits (LC)     IND A4+          20       -
Migrated to Non-Cooperating Category
Yuvashakthi Enterprises         Non-FB WC limit        IND A4+          50       -
Migrated to Non-Cooperating Category
Linus Agroventures              FB Fac (ST)            IND D            120      Downgraded
                                                                                 from IND A4+
Migrated to Non-Cooperating Category




LONG TERM RATINGS:
-------------------
AMT International               FB WC limit            IND B-           50       -
Migrated to Non-Cooperating Category
Arihant Ship Breakers           FB limits              IND B-           75       -
Migrated to Non-Cooperating Category
Arihant Ship Breakers           Long-TL                IND B-           16.2     -
Migrated to Non-Cooperating Category
Autopal Industries              TL                     IND BB-          6.3      -
Migrated to Non-Cooperating Category
Autopal Industries              FB WC limit            IND BB-/A4+      100      -
Migrated to Non-Cooperating Category
Bolton Cv Ifmr Capital 2016     Series A1 pass-through IND A-           99.4     Affirmed
                                certificates (PTCs)
Bolton Cv Ifmr Capital 2016     Series A2 PTCs         IND BB           51.5     Affirmed
Build Wallinfra                 TL (LT)                IND D            75       -
Migrated to Non-Cooperating Category
Build Wallinfra                 FB WC limit (LT)       IND D            30       -
Migrated to Non-Cooperating Category
Cosyn                           FB WC limit            WD               20       Withdrawn
Cosyn                           Long-TL                WD               2.34     Withdrawn
Cosyn                           Non-FB WC limit        WD               42.5     Withdrawn
Dee-Tech Projects Pvt Ltd       FB Limits              IND BB           120      -
Migrated to Non-Cooperating Category
Dee-Tech Projects Pvt Ltd       TL                     IND BB           65.68    -
Migrated to Non-Cooperating Category
Dr. Reddy’S Laboratories        Proposed WC Bk loans   Provisional IND  1000     Assigned
                                                       AA+/A1+
Famous Stationery               FB WC limit            IND B+           50       -
Migrated to Non-Cooperating Category
Fine Jewellery Manufacturing    FB WC limit            IND BB           563      -
Migrated to Non-Cooperating Category
Gs Atwal & Co (Engineers)       FB limits(LT/ST)       IND D            55       -
Migrated to Non-Cooperating Category
Gs Atwal & Co (Engineers)       Long-TL                IND D            122.4    -
Migrated to Non-Cooperating Category
Gs Atwal & Co (Engineers)       Non-FB limits(LT/ST)   IND D            80       -
Migrated to Non-Cooperating Category
Ingenerie Technologies          FB limits              IND B+           20       -
Solutions
Migrated to Non-Cooperating Category
Ingenerie Technologies          TL                     IND B+           60       -
Solutions
Migrated to Non-Cooperating Category
Linus Agroventures              Long-TL (LT)           IND D            180      Downgraded
                                                                                 from IND BB-
Migrated to Non-Cooperating Category
M/S Elegant Enterprises         Fund based WC limit    IND BB-/A4+      51       -
Migrated to Non-Cooperating Category
Magick Woods Exports            Long-TL                IND BBB          305      Upgraded from
                                                                                 IND BBB-
Magick Woods Exports            Bk Fac                 IND BBB/A2       845      Upgraded from
                                                                                 IND BBB- / A3
Nvr Infrastructure And Services Long-TL                IND BBB+         710      -
Migrated to Non-Cooperating Category
Orissa Order Suppliers          FB CC limits (LT)      IND D            210      -
Migrated to Non-Cooperating Category
Paras Commercial Corporation    FB limits              IND B            45       -
Migrated to Non-Cooperating Category
Paras Commercial Corporation    Non-FB limits          IND B            40       -
Migrated to Non-Cooperating Category
Paul Alukkas Developers         TL                     IND B            140      -
Migrated to Non-Cooperating Category
Platinum Trust                  Series A pass-through  IND AAA          1825.1   Affirmed
                                certificates (PTCs)
Platinum Trust                  Second loss credit     IND BBB          125.6    Affirmed
                                facility (SLCF)
R R Prestress Industries        FB WC limit            IND B+/ A4       40       -
Migrated to Non-Cooperating Category
Sas International               FB WC limit            IND BB /IND A4+  215      -
Migrated to Non-Cooperating Category
Satwik Steel                    FB limits              IND B+           200      -
Migrated to Non-Cooperating Category
Shakun Gases                    FB limits              IND B-           40       -
Migrated to Non-Cooperating Category
Shiva Polytubes                 FB (CC)                IND BB+          44       -
Migrated to Non-Cooperating Category
Shiva Polytubes                 TL                     IND BB+          21.5     -
Migrated to Non-Cooperating Category
Sri Prasana Tex                 FB WC limit            IND B            30       -
Migrated to Non-Cooperating Category
Srinivasa Civil Works           FB limits (LT)         IND D            35       -
Migrated to Non-Cooperating Category
Srinivasa Civil Works           Non-FB limits (ST)     IND D            210      -
Migrated to Non-Cooperating Category
Suman Vinimay                   FB WC limit            IND BB-          170      -
Migrated to Non-Cooperating Category
Suman Vinimay                   TL                     IND BB-          45       -
Migrated to Non-Cooperating Category
Tiwana Oil Mills                TL                     IND BB           15.06    -
Migrated to Non-Cooperating Category
Tiwana Oil Mills                FB WC limit            IND BB           82.5     -
Migrated to Non-Cooperating Category
Triway Container Freight-StationTL                     IND BBB-         362.17   Assigned
Ved Cellulose                   FB limits              IND BB           147.5    -
Migrated to Non-Cooperating Category
Ved Cellulose                   TL                     IND BB           34.85    -
Migrated to Non-Cooperating Category
Vijay Velavan Spinning Mills    FB limits              IND BB           140      -
Migrated to Non-Cooperating Category
Vijay Velavan Spinning Mills    Long-TL                IND BB           18       -
Migrated to Non-Cooperating Category
Vijay Velavan Spinning Mills    Non-FB limits (BG)     IND BB           6.5      -
Migrated to Non-Cooperating Category
Yuvashakthi Enterprises         FB WC limit            IND BB           10       -
Migrated to 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)

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