India Ratings for Indian debt instruments – Feb 17

India Ratings for Indian debt instruments – Feb 17

Last Updated: Fri, Feb 17, 2017 11:40 hrs

Feb 17 (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 16, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ------ --------- SHORT TERM RATINGS: ------------------- Cimechel Electric Company Non-FB limits IND A4+ 200 Upgraded from IND B+ Cimechel Electric Company Non-FB limits IND A4+ 150 Assigned Cimechel Electric Company *Proposed non-FB limitsProvisional IND 100 Assigned A4+ * The above ratings are provisional and shall be confirmed upon the sanction and execution of loan documents for the above facilities by CEC to the satisfaction of Ind-Ra. Elastochemie Impex Pvt Ltd Non-FB limits IND A4 4 Assigned Meera Glass Industries Non-FB limits IND A4 24.4 Assigned Mgi India Pvt Ltd Non-FB WC limits IND A4 50 Affirmed Nmc Industries Pvt Ltd Non-FB facility IND A4+ 200 Assigned Penna Cement Industries Ltd NFB WC limits IND A1+ 1800 Affirmed Penna Cement Industries Ltd CP Programme (CP) IND A1+ 500 Affirmed LONG TERM RATINGS: ------------------- Bhavani Constructions FB WC limits IND BB+ /IND A4+ 50 Assigned Cimechel Electric Company FB limits IND BB- 120 Upgraded from IND B+ Cimechel Electric Company FB limits IND BB- 60 Assigned Cimechel Electric Company *Proposed-FB limits Provisional IND 70 Assigned BB- * The above ratings are provisional and shall be confirmed upon the sanction and execution of loan documents for the above facilities by CEC to the satisfaction of Ind-Ra. Dabra Agro Pvt. Ltd FB limit IND B+ 112.5 Assigned Dabra Agro Pvt. Ltd TL IND B+ 31.36 Assigned Elastochemie Impex Pvt Ltd FB WC limits IND B / IND A4 150 Assigned Hazaribagh Ranchi Expressway LtdProposed Senior NCDs* Provisional IND 380 Assigned AAA(SO) *The final rating is contingent upon the receipt of final documents conforming to information already received. The documents include all the finalised financing, transaction and project documents, including the legal opinion on the validity of transaction and structure, and an opinion related to taxation. Hazaribagh Ranchi Expressway LtdProposed Subordinated Provisional IND 1770 Assigned NCDs* AAA(SO) *The final rating is contingent upon the receipt of final documents conforming to information already received. The documents include all the finalised financing, transaction and project documents, including the legal opinion on the validity of transaction and structure, and an opinion related to taxation. Meera Glass Industries FB WC IND B+ /IND A4 38 Assigned Mgi India Pvt Ltd Long-TL IND B+ 3.54 Affirmed (Reduced from INR7.8) Mgi India Pvt Ltd FB WC limits IND B+ 40 Affirmed Navdurga Ispat (P) Ltd FB limit IND BB+ 160 Assigned Penna Cement Industries Ltd NCDs (NCD) IND AA- 350 Affirmed Penna Cement Industries Ltd TL IND AA- 6992.1 Affirmed Penna Cement Industries Ltd FB WC limits IND AA- / IND A1+1700 Affirmed Penna Cement Industries Ltd Proposed TL Limits Provisional IND 2790 Affirmed AA- Power Corporation Ltd Proposed bonds Provisional IND 100000 Assigned AA(SO) Salasar Agropanel Pvt Ltd FB WC limit IND BBB- 50 Assigned Salasar Agropanel Pvt Ltd Long-TL IND BBB- 75 Assigned Shiv Shakti Industries Pvt Ltd FB WC limit IND BB+ 101.7 Assigned Shiv Shakti Industries Pvt Ltd Long-TL IND BB+ 15.5 Assigned Sri Srinivasa Delinters FB facility IND B+ /IND A4 70 Assigned ----------------------------------------------------------------------------------------------- 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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