India Ratings for Indian debt instruments – Jun 19

Last Updated: Mon, Jun 19, 2017 09:40 hrs

Jun 19 (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 June 16, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ------ --------- SHORT TERM RATINGS: ------------------- Ashish Infracon Pvt Ltd Non-FB WC limits IND A3 600 Assigned LONG TERM RATINGS: ------------------- Ashish Infracon Pvt Ltd FB WC limits IND BBB-/ 100 Assigned IND A3 Jk Paper Ltd TL IND A- 9292.2 Upgraded from IND BBB+ (reduced from INR11,447.3) Jk Paper Ltd Proposed NCDs* IND A- 2000 Upgraded from IND BBB+ Jk Paper Ltd FB WC limits IND A-/ 2500 Upgraded from IND A1 IND BBB+/ IND A2+ (reduced from INR2,700) Jk Paper Ltd Non-FB WC limits IND A-/ 3700 Upgraded from IND A1 IND BBB+/ IND A2+ (increased from INR3,500) Jk Paper Ltd Term deposit IND tA 300 Upgraded from IND tA- Mahindra & Mahindra Financial NCD* IND AAA 15000 Assigned Services Ltd * yet to be raised Pune Municipal Corporation Proposed NCDs* (NCDs) IND AA+ 2000 Assigned *The final rating will be assigned upon the issuance of NCDs and receipt of transaction documents by the agency. Pune Municipal Corporation BL WD 1048.2 Withdrawn ----------------------------------------------------------------------------------------------- Note:- All Indian National-scale ratings previously assigned by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 The withdrawn criteria are now available on India Ratings' website at $: Rating watch with positive implication #: Rating Watch with Developing implications @: Rating Watch with Negative Implications %: Rating under Credit Watch wd -Rating Stands Withdrawn sp -Rating Suspended pp -Principal Protected pn -Principal Not Protected INDIA RATINGS may apply + or - signs for ratings to reflect a comparative standing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

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