India Ratings for Indian debt instruments - Dec 2

Last Updated: Fri, Dec 02, 2016 11:00 hrs

Dec 2 (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 December 1, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ------ --------- SHORT TERM RATINGS: ------------------- Sterling And Wilson Pvt Ltd CP (increased from IND A1+ 3000 Assigned INR2,000m)* * This facility has been carved out from fund-based limits. Jubilant Motorworks Pvt Ltd Non FB WC credit IND A3+ 5 Assigned limits: Jubilant Performance Cars Pvt NFB WC limit IND A3+(SO) 200 Assigned Ltd Jubilant Performance Cars Pvt NFB WC limit IND A3+(SO) Assigned Ltd Kejriwal Bee Care India Pvt Ltd Non-FB limits (reduced IND A3+ 10 Assigned from INR20m) Kejriwal Bee Care India Pvt Ltd Non-FB limits IND A3+ 10 Affirmed Orix Leasing & Financial ST Issuer Rating IND A1+ Assigned Services India Ltd LONG TERM RATINGS: ------------------- Arfin India Ltd WC Fac IND BBB- 375 Assigned Arfin India Ltd LT Issuer Rating ND BBB-. Assigned Gagan Pulses Pvt Ltd FB limits IND 500 Withdrawn BBB(suspended) /IND A3+(suspended) Gagan Pulses Pvt Ltd Non-FB limits: IND 100 Withdrawn BBB(suspended) /IND A3+(suspended) Gagan Pulses Pvt Ltd LT Issuer Rating IND Withdrawn BBB(suspended) Intime Properties Ltd commercial IND AAA(SO) 3090.6 Affirmed mortgage-backed securities Js Designer Ltd LT Issuer Rating IND D Assigned Js Designer Ltd TL IND D 356.5 Assigned Js Designer Ltd Non-FB limits IND D 47.5 Assigned Js Designer Ltd FB limit IND D / IND D 6103 Assigned Jubilant Motorworks Pvt Ltd LT Issuer Rating IND BBB Affirmed Jubilant Motorworks Pvt Ltd TL IND BBB 647.6 Affirmed Jubilant Motorworks Pvt Ltd FB WC credit limits: IND BBB/IND A3+ 300 Affirmed Jubilant Performance Cars Pvt FB WC loan IND BBB(SO) 80 Assigned Ltd Kejriwal Bee Care India Pvt Ltd LT Issuer Rating: IND BBB Affirmed Kejriwal Bee Care India Pvt Ltd TL (reduced from IND BBB 89 Affirmed INR114m) Kejriwal Bee Care India Pvt Ltd TL IND BBB 35 Assigned Kejriwal Bee Care India Pvt Ltd FB limits IND BBB /IND A3+ 440 Affirmed Kejriwal Bee Care India Pvt Ltd FB limits IND BBB/IND A3+ 90 Assigned Lakshmi Energy And Foods Ltd LT Issuer Rating IND BB(suspended) Withdrawn Lakshmi Energy And Foods Ltd TL IND BB(suspended)400 Withdrawn Lakshmi Energy And Foods Ltd FB limits IND 8250 Withdrawn BB(suspended) / IND A4+(suspended) Lakshmi Energy And Foods Ltd Non-FB limits IND 250 Withdrawn BB(suspended) / IND A4+(suspended) Lalithaa Jewellery Mart Pvt Ltd LT Issuer Rating IND A- Affirmed Lalithaa Jewellery Mart Pvt Ltd FB WC limits (enhanced IND A- / IND A2+ 8056 Affirmed from INR6,866m) Lalithaa Jewellery Mart Pvt Ltd FB WC limits IND A- / IND A2+ 284 Assigned Lalithaa Jewellery Mart Pvt Ltd FB WC limits IND A- / IND A2+*170 Assigned * the ratings are provisional and the final rating will be assigned subject to execution of sanction letter for the above facilities. Mangal Pulses Pvt Ltd FB limits IND BBB 450 Withdrawn (suspended) / IND A3+(suspended) Mangal Pulses Pvt Ltd LT Issuer Rating IND Withdrawn BBB(suspended) Sanskar Agro Processors Pvt Ltd Non-FB limits IND 15 Withdrawn A4+(suspended) Manipal Health Systems Pvt Ltd LT Issuer Rating IND Withdrawn BBB+(suspended) Manipal Health Systems Pvt Ltd TL IND 423.7 Withdrawn BBB+(suspended) Sterling And Wilson Pvt Ltd FB limits fund-based 1000 Assigned limits: Sterling And Wilson Pvt Ltd LT Issuer Rating IND AA- Assigned Sterling And Wilson Pvt Ltd NCDs: IND AA- 1000 Assigned Sterling And Wilson Pvt Ltd FB limits IND AA-/IND A1+ 2010 Assigned Sterling And Wilson Pvt Ltd Non-FB limits IND AA-/IND A1+ 19400 Assigned Sterling And Wilson Pvt Ltd Non-FB limits Provisional IND 56590 Assigned AA-/Provisional IND A1+** ** The final ratings are contingent upon the receipt of final documents conforming to the information already received Orix Leasing & Financial NCDs IND AAA 2000 Assigned Services India Ltd Orix Leasing & Financial LT Issuer Rating IND AAA Assigned Services India Ltd Orix Leasing & Financial NCDs (increased from IND AAA 3200 Assigned Services India Ltd INR1.2bn) Orix Leasing & Financial LT Bk loans IND AAA 7700 Assigned Services India Ltd Sanskar Agro Processors Pvt Ltd LT Issuer Rating IND BB(suspended) Withdrawn Sanskar Agro Processors Pvt Ltd TL IND BB(suspended)89.8 Withdrawn Sanskar Agro Processors Pvt Ltd FB limits IND BB(suspended)150 Withdrawn Welspun Solar Tech Pvt Ltd LT senior project Bk IND BBB+. 5196.2 Affirmed loan ----------------------------------------------------------------------------------------------- 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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