42
0
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 19, 2018.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ------ ---------
SHORT TERM RATINGS:
-------------------
Alaknanda Sponge Iron Ltd. NFB WC limit IND A4+ 2.5 -
Maintained in Non-Cooperating Category
Amt International Non-FB WC limit IND A4 50 -
Maintained in non-cooperating category
Bhramari Steels Pvt Ltd Non-FB limits IND A4+ 20 -
Maintained in non-cooperating category
Durga Marble And Minerals FB WC limit IND A4 84 -
Maintained in non-cooperating category
Ghcl Ltd CP (CP)* IND A1+ 1000 Assigned
*Yet to be issued; carved out of existing working capital facilities
Imperial Tubes Pvt Ltd Non-FB limits IND A4 50 -
Maintained in non-cooperating category
M/S Sanjay Agrawal Non-FB WC limit IND A4+ 600 -
Maintained in non-cooperating category
Minera Steel & Power Pvt Ltd Non-FB WC limit IND A3+ 4250 Affirmed
(increased from INR408)
Paras Commercial Corporation Non-FB limits IND A4 40 -
Maintained in non-cooperating category
R R Prestress Industries Non-FB WC limit IND A4 14.5 -
Maintained in non-cooperating category
Sas International Non-FB WC limit IND A4+ 30 -
Maintained in non-cooperating category
Shakun Gases Pvt Ltd Non-FB limits IND A4 190 -
Maintained in Non-Cooperating Category
Shiva Polytubes Pvt Ltd FB limit (standby line IND A4+ 6.6 -
of credit)
Maintained in non-cooperating category
Shiva Polytubes Pvt Ltd Non-FB limits IND A4+ 33.35 -
Maintained in non-cooperating category
Shivshakti Barrels Pvt Ltd Non-FB WC limit IND A4 13.5 -
Maintained in non-cooperating category
Tata Projects Ltd CP IND A1+ 2000 Assigned
LONG TERM RATINGS:
-------------------
Alaknanda Sponge Iron Ltd. FB WC limit IND BB+ 125 -
Maintained in Non-Cooperating Category
Amt International FB WC limit IND B- 50 -
Maintained in non-cooperating category
Autopal Industries Ltd TL IND BB- 6.3 -
Maintained in non-cooperating category
Autopal Industries Ltd FB WC limit IND BB-/IND A4+ 100 -
Maintained in non-cooperating category
Bhramari Steels Pvt Ltd FB limits IND BB+ 172.5 -
Maintained in non-cooperating category
Bhramari Steels Pvt Ltd TL IND BB+ 11 -
Maintained in non-cooperating category
Build Wallinfra India Pvt Ltd TL (LT) IND D 75 -
Maintained in non-cooperating category
Build Wallinfra India Pvt Ltd FB WC limit (LT) IND D 30 -
Maintained in non-cooperating category
Dee-Tech Projects Pvt Ltd FB WC limit IND BB 220 -
Maintained in non-cooperating category
Dee-Tech Projects Pvt Ltd Non-FB WC limit IND BB/IND A4+ 310 -
Maintained in non-cooperating category
Eastern Media Ltd FB limit IND BBB- 299 Affirmed
Eastern Media Ltd TL IND BBB- 40 Affirmed
Famous Stationery Pvt Ltd FB WC limit IND B+ 50 -
Maintained in non-cooperating category
Gansons Ltd FB WC limit IND BBB- 100 -
Maintained in non-cooperating category
Gansons Ltd NFB WC limit IND BBB- /IND A3 140 -
Maintained in non-cooperating category
Ghanshyam Dall Mill FB limits IND BB- 75 -
Maintained in non-cooperating category
Hazaribagh Ranchi Expressway LtdSenior NCDs IND AAA(SO)/RWN 5380 Placed on RWN
Hazaribagh Ranchi Expressway LtdSubordinate NCDs IND AAA(SO)/RWN 1770 Placed on RWN
Hinduja Leyland Finance Ltd Lower tier II IND AA- 2500 Upgraded
subordinated debt
Il&Fs Clusters Development FB WC IND BB+(SO) /IND 300 Downgraded
Initiative Ltd A4+(SO)
Il&Fs Clusters Development Non-FB WC IND BB+(SO) /IND 60 Downgraded
Initiative Ltd A4+(SO)
(reduced from INR150)
Il&Fs Skills Development Non-FB limit/FBL* IND BB+(SO) /IND 100 Downgraded
Corporation Ltd A4+(SO)
*The limit is fungible.
Imperial Tubes Pvt Ltd FB limits IND B+ 400 -
Maintained in non-cooperating category
Indian Renewable Energy FY18borrowing programme- 32650 Withdrawn
Development Agency Ltd
(IREDA did not proceed with the instrument as envisaged)
Indian Renewable Energy FY19borrowing programmeIND AAA 37000 Assigned
Development Agency Ltd
Indian Renewable Energy Bonds IND AAA 7000 Affirmed
Development Agency Ltd
Indian Renewable Energy Tax-free bonds IND AAA 20000 Affirmed
Development Agency Ltd
Indian Renewable Energy GoI fully serviced IND AAA 16400 Affirmed
Development Agency Ltd bonds
(reduced from INR40,000)
Jorbat Shillong Expressway Ltd Senior NCDs IND AAA(SO)/RWN 6412 Placed on RWN
Jorbat Shillong Expressway Ltd Subordinate NCDs IND AAA(SO)/RWN 2421.6 Placed on RWN
Linus Agroventures Pvt. Ltd FB Fac (ST) IND D 120 Affirmed
Linus Agroventures Pvt. Ltd Long-TL (LT) IND D 180 Affirmed
M/S Sanjay Agrawal FB WC limit IND BB 40 -
Maintained in non-cooperating category
Madhav Stores FB WC limit IND B+ 40 -
Maintained in non-cooperating category
Madhav Stores TL IND B+ 24.28 -
Maintained in non-cooperating category
Minera Steel & Power Pvt Ltd TL IND BBB 1137.1 Affirmed
(reduced from INR1,274)
Minera Steel & Power Pvt Ltd FB WC limit IND BBB /IND A3+ 850 Affirmed
Minera Steel & Power Pvt Ltd Proposed FBL* Provisional IND 119.9 Assigned
BBB /Provisional
IND A3+
* The ratings are provisional and shall be confirmed upon the sanction and execution
of loan documents for the proposed facilities by Minera to the satisfaction of Ind-Ra.
Paras Commercial Corporation FB limits IND B 45 -
Maintained in non-cooperating category
R R Prestress Industries FB WC limit IND B+/IND A4 40 -
Maintained in non-cooperating category
Sas International FB WC limit IND BB/IND A4+ 215 -
Maintained in non-cooperating category
Shakun Gases Pvt Ltd FB limits IND B- 40 -
Maintained in Non-Cooperating Category
Shiva Polytubes Pvt Ltd FB limits (CC) IND BB+ 44 -
Maintained in non-cooperating category
Shiva Polytubes Pvt Ltd TL IND BB+ 21.5 -
Maintained in non-cooperating category
Shivshakti Barrels Pvt Ltd TL IND B+ 1.88 -
Maintained in non-cooperating category
Shivshakti Barrels Pvt Ltd FB WC limit IND B+ 45 -
Maintained in non-cooperating category
Tata Projects Ltd FB WC limits IND AA 10780 Assigned
Tata Projects Ltd Non-FB limits IND AA /IND A1+ 16880 Assigned
Tata Projects Ltd Short-TL IND AA /IND A1+ 1700 Assigned
Tata Projects Ltd Bill discounting limitsIND AA /IND A1+ 450 Assigned
Tiwana Oil Mills Pvt Ltd TL IND BB 15.06 -
Maintained in non-cooperating category
Tiwana Oil Mills Pvt Ltd FB WC limit IND BB 82.5 -
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)
Source: reuters
