India Ratings for Indian debt instruments – Feb 15

Source : REUTERS
Last Updated: Wed, Feb 15, 2017 14:00 hrs

Feb 15 (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 February 14, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ------ --------- SHORT TERM RATINGS: ------------------- Asia (Chennai) Engineering Non-FB WC limits IND A3+ 200 Affirmed HRA Sales Proposed non-FB WC Provisional IND 25 Assigned limits* A4 *Provisional ratings are subject to approval by the bank. The company intends to increase its current scale of operations for which additional fund and non-fund-based limits are required. National Steel And Agro Non-FB WC limits IND A3 11995 Assigned Industries Reliance Infrastructure CP Provisional IND 300 Assigned A1+ Simplex Castings Non-FB limit IND A3 500 Affirmed Sun Steel Industries Non-FB limits IND A4 115 Downgraded from IND A4+ The Bombay Burmah Trading Corp CP* IND A1+ 500 Assigned *Over and above the existing working capital facility LONG TERM RATINGS: ------------------- Baddi Infrastructure TL IND B- 52 Assigned Calcom Cement India TL IND A 6113.5 Assigned Calcom Cement India FB limits IND A/A1 298 Assigned Calcom Cement India Non-FB limits IND A/A1 78.8 Assigned Capital Cables India FB WC limits IND BB- / IND A4+100 Assigned Cescom Long-TL IND A 5024.62 Affirmed Cescom FB WC limits IND A 500 Affirmed Creative Clothex FB WC limits IND D 30 Assigned Creative Clothex Non-FB limits IND D 4.5 Assigned Creative Clothex TL IND D 19 Assigned Ganesh Sponge FB limit IND D 260 Assigned Ganesh Sponge TL IND D 116.5 Assigned Hcl Infosystems TL IND A- 7000 Affirmed Hcl Infosystems Non-FB Bk Fac IND A- / IND A1 18000 Affirmed Hcl Infosystems FB Bk Fac IND A- / IND A1 3000 Affirmed Hcl Infosystems Proposed NCDs (tranche Provisional IND 500 Affirmed 1)* A- *The NCDs proceeds will be used for refinancing short-term upcoming debt maturities. The final ratings are contingent upon the receipt of final documents conforming to the information already received. Hcl Infosystems Proposed NCDs (tranche Provisional IND 500 Affirmed 2)* A- *The NCDs proceeds will be used for refinancing short-term upcoming debt maturities. The final ratings are contingent upon the receipt of final documents conforming to the information already received. HRA Sales FB WC limits IND B-/ IND A4 20 Assigned HRA Sales Proposed FB WC limits* Provisional IND 30 Assigned B- / Provisional IND A4 *Provisional ratings are subject to approval by the bank. The company intends to increase its current scale of operations for which additional fund and non-fund-based limits are required. India Standard Loan Trust Xli PTC (PTCs)- Series A Provisional IND 879.7 Assigned AA India Standard Loan Trust Xli Liquidity facility (LF)Provisional IND 8.797 Assigned AAA India Standard Loan Trust Xli Second loss credit Provisional IND B42.2 Assigned facility (SLCF) Kisan Proteins FB limits IND BB- 95 Assigned Leaseplan India Long-TL IND AAA 8.3 Affirmed Leaseplan India Long-TL IND AAA 2 Assigned Mfl Securitisation Trust - Series A1 pass-through IND AA 365.2 Affirmed XXXIII certificates (PTCs) Mfl Securitisation Trust - Series A2 PTCs IND AA 11.7 Affirmed XXXIII Mfl Securitisation Trust - Liquidity facility (LF)IND AAA 11.2 Affirmed XXXIII Mfl Securitisation Trust - Second loss credit IND BBB 45.5 Affirmed XXXIII facility (SLCF) National Steel And Agro Long-TL IND BBB- 156 Assigned Industries National Steel And Agro FB WC limits IND BBB- 2006 Assigned Industries National Steel And Agro *Proposed FB WC Limits Provisional IND 1843 Assigned Industries BBB- *The final rating will be assigned upon receipt of sanction letter by the agency. Sansar Trust Second loss credit IND A- 370.8 Affirmed facility (SLCF Sansar Trust Series A pass-through IND AAA 872.8 Affirmed certificates (PTCs) Simplex Castings FB limit IND BBB- 500 Affirmed Simplex Castings TL IND BBB- 81.4 Affirmed Simplex Castings TL IND BBB- 65 Affirmed Sun Steel Industries FB limits IND B+ 60 Downgraded from IND BB- The Bombay Burmah Trading Corp Proposed NCDs# Provisional IND 500 Assigned AA #The above rating is provisional and shall be confirmed upon the sanction and execution of loan documents for the above facilities by BBTCL 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)



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