India Ratings for Indian debt instruments - Nov 23

Last Updated: Wed, Nov 23, 2016 12:00 hrs

Nov 23 (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 November 22, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ------ --------- SHORT TERM RATINGS: ------------------- Balaji Amines Ltd non-FB limits IND A1 1200 upgraded from IND A2+ (reduced from INR1,650m) Shakthi Knitting Ltd non-FB WC Fac IND A4+ 231 Downgraded from IND A3 (increased from INR220m) John Energy Ltd non-FB limits IND A- 1826.1 Outlook revised to Positive from Stable/IND A2+ (increased from INR1,776.1m) John Energy Ltd WC limits IND A- 1330 Outlook revised to Positive from Stable/IND A2+ (increased from INR1,290.6m) LONG TERM RATINGS: ------------------- Balaji Amines Ltd TL IND A 443.6 upgraded from IND A- (reduced from INR1,046.7m) Balaji Amines Ltd FB limits IND A /'IND A1 1800 upgraded from IND A (reduced from INR1950m) Indotech Transformers NFB WC Limit IND BBB- 470 Affirmed John Energy Ltd long-TL IND A- 992.8 Outlook revised to Positive from (reduced from INR941m) Stable John Energy Ltd external commercial IND A- 4152.9 Outlook borrowings revised to Positive from Stable (increased from INR3,460.6m) John Energy Ltd PS IND BBB+ 750 Withdrawn Kare Enterprise WC limit IND BBB+ 90 Assigned Mukesh Balvantrai FB limits IND BB/A4+ 150 Assigned National Cooperative Secured TBs IND AA+ 5000 Affirmed Development Corporation Sanjay Industrial Steels FB limits IND B+ 80 Withdrawn Shakthi Knitting Ltd FB WC Fac IND BBB- /IND 840 Downgraded A4+ from IND BB+ / IND A3 ----------------------------------------------------------------------------------------------- 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 The withdrawn criteria are now available on India Ratings' website at $: Rating watch with positive implication #: Rating Watch with Developing implications @: Rating Watch with Negative Implications %: Rating under Credit Watch wd -Rating Stands Withdrawn sp -Rating Suspended pp -Principal Protected pn -Principal Not Protected INDIA RATINGS may apply + or - signs for ratings to reflect a comparative standing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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