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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
October 10, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ------ ---------
SHORT TERM RATINGS:
-------------------
Sgd Pharma India Ltd Non-FB limits IND A3+ 119 Affirmed
Sterling And Wilson Solar Ltd CP (CP)# IND A1+ 3000 Affirmed
Off RWE,#The CP will be carved out of the existing working capital limits.
Tata Sons Pvt Ltd CP IND A1+ 100000 Affirmed
LONG TERM RATINGS:
-------------------
ITD Cementation India Ltd TL IND A+/RWN 808 Placed on RWN
ITD Cementation India Ltd FB WC limits IND A+/RWN/IND 7716 Placed on RWN
A1/RWN
ITD Cementation India Ltd Non-FB WC limits IND A+/RWN/IND 36450 Placed on RWN
A1/RWN
ITD Cementation India Ltd Project-specific IND A+/RWN/IND 6450 Placed on RWN
non-FB limits A1/RWN
ITD Cementation India Ltd Proposed TL* Provisional IND 192 Placed on RWN
A+/RWN
*The ratings are provisional and shall be confirmed upon the sanction and execution of loan
/transaction documents for the above instruments to the satisfaction of Ind-Ra.
ITD Cementation India Ltd Proposed FB WC limits* Provisional IND 284 Placed on RWN
A+/RWN /
Provisional IND A1/RWN
*The ratings are provisional and shall be confirmed upon the sanction and execution of loan
/transaction documents for the above instruments to the satisfaction of Ind-Ra.
ITD Cementation India Ltd Proposed non-FB WC Provisional IND 3550 Placed on RWN
limits* A+/RWN /
Provisional IND A1/RWN
ITD Cemindia Jv FB WC limits IND A+/RWN/IND 1250 Placed on RWN
A1/RWN
Klm Infra’S TL WD 96.27 Withdrawn
Mytrah Ujjval Power Pvt Ltd NCDs IND BBB+/Negative8200 Downgraded and
reassigned
Sgd Pharma India Ltd FB limits IND 290 Affirmed
BBB/Positive/IND
A3+
Sgd Pharma India Ltd Term-Loan WD 69.14 Withdrawn
(Paid in full)
Sterling And Wilson Solar Ltd NCDs (NCDs) IND AA-/Stable 1000 Assigned
Sterling And Wilson Solar Ltd FB limits* IND 1920 -
AA-/Stable/IND
A1+
(Long-term rating downgraded and assigned; Short-term rating assigned; Off RWE),*The assignment
of the final ratings follows the receipt of the final documents conforming to the information
already received by Ind-Ra.
Sterling And Wilson Solar Ltd Non-FBL IND 9180 -
AA-/Stable/IND
A1+
Long-term rating downgraded; Short-term rating affirmed; Off RWE
Sterling And Wilson Solar Ltd Non-FBL* IND 63260 -
AA-/Stable/IND
A1+
Long-term rating downgraded and assigned; Short-term rating assigned; Off RWE,*The assignment of
the final ratings follows the receipt of the final documents conforming to the information
already received by Ind-Ra.
Sterling And Wilson Solar Ltd Proposed FB limits** Provisional IND 1080 -
AA-/Stable /
Provisional IND A1+
Long-term rating downgraded; Short-term rating affirmed; Off RWE,** The ratings are provisional
and shall be confirmed upon the sanction and execution of the loan documents for the above
facilities by SWSL to the satisfaction of Ind-Ra.
Sterling And Wilson Solar Ltd Proposed non-FBL** Provisional IND 24560 -
AA-/Stable /
Provisional IND A1+
Long-term rating downgraded; Short-term rating affirmed; Off RWE,** The ratings are provisional
and shall be confirmed upon the sanction and execution of the loan documents for the above
facilities by SWSL to the satisfaction of Ind-Ra.
-----------------------------------------------------------------------------------------------
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
tags:
India Ratings
