April 9, 2018 / 5:22 AM / 15 days ago

RPT-India Ratings for Indian debt instruments – Apr 9

 (Repeating to change the format)
    Apr 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
April 6, 2018.

COMPANY                         INSTRUMENT             RATING          AMOUNT    MOVEMENT
                                                                       (RS.MLN)
------                          ----------             ------          ------    ---------
SHORT TERM RATINGS:
-------------------
Ajit Kumar Swain                Non-FB WC limits       IND A4+          120      Assigned
Chemplast Sanmar Ltd            Non-FB WC Fac          IND A1           10205    Upgraded
Eshyan Infratech                Non-FB WC limits       IND A4           20       -
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
Eshyan Infratech                Proposed Non-FB WC     Provisional IND  35       -
                                limits                 A4
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
Grainspan Nutrients Pvt Ltd     Non-FB limits          IND A3           53       Downgraded
Ibs Software Services Pvt Ltd   Non-FB WC limits       IND A1+          356      Affirmed
Mani Export Pvt Ltd             Non-FB limits          IND A4+          4        Affirmed
Meera Glass Industries          Non-FB WC limit        IND A4           24.4     
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
Satyam Balajee Rice Industries  Non-FB limits          IND A2           284      Downgraded
Pvt. Ltd
Sb Equipments Llp               Non-FB limits          IND A4+          40       Affirmed
Yogaa And Co.’S                 Non-FB limit           IND A4           100      -
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
LONG TERM RATINGS:
-------------------
Ajit Kumar Swain                FB WC limits           IND BB-          40       Assigned
Chemplast Sanmar Ltd            FB WC Fac              IND A            1080*    Upgraded from
                                                                                 IND A-
*Includes an INR630 million sub-limit of non-fund-based facilities
Chemplast Sanmar Ltd            TL                     IND A            2560     Upgraded from
                                                                                 IND A-
(reduced from INR3,320mlns)
Eshyan Infratech                FB WC limits           IND B+ /IND A4   10       -
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
Eshyan Infratech                Proposed FB WC limits  Provisional IND  15       -
ISSUER NOT COOPERATING          B+ /Provisional        IND A4                     
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
Grainspan Nutrients Pvt Ltd     TL                     IND BBB-         561.6    Downgraded
                                                                                 from IND BBB
Grainspan Nutrients Pvt Ltd     FB limits              IND BBB-/IND A3  650      Downgraded
Heidelbergcement India Ltd      Bonds                  IND AA+          3700     Affirmed
Ibs Software Services Pvt Ltd   FB WC limits           IND A+           600      Affirmed
Kailash Educational &           TL                     -                90       Withdrawn
Charitable Society
Mani Export Pvt Ltd             FB limits              IND BB-          350      Affirmed
Meera Glass Industries          FB WC limit            IND B+ /IND A4   38       -
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
Nagapattinam Municipality       Issuer rating          IND BB           -        Withdrawn
Prism Cement Ltd                NCDs*                   IND A-          750      Assigned
*Yet to be issued
Renew Wind Energy (Jath) Ltd    NCDs                   IND AA+(SO)      4510     Affirmed
(outstanding INR4,150MLN)
Satyam Balajee Rice Industries  FB limits              IND BBB          2845     Downgraded
Pvt. Ltd                                                                         from IND BBB+
Sb Equipments Llp               FB limits              IND BB /IND A4+  110      Upgraded
                                                                                 /Affirmed
Shree Ramdev Cotton Industries  TL                     IND B+           4.5      -
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
Shree Ramdev Cotton Industries  FB WC limit            IND B+ /IND A4   75       -
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
Shri Balaji Institute Of        TL                     IND BBB-         87.64    -
Medical Sciences Pvt Ltd                                                         
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
Shri Balaji Institute Of        FB limit               IND BBB-         600      -
Medical Sciences Pvt Ltd                                                          
(Migrated to Non Cooperating Category,ISSUER NOT COOPERATING)
Yogaa And Co.’S                 FB limit               IND B+           50       -
(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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