India Ratings for Indian debt instruments - Nov 24

Last Updated: Thu, Nov 24, 2016 11:40 hrs

Nov 24 (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 23, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------ ---------- ------ ------ --------- SHORT TERM RATINGS: ------------------- Barclays Bank Plc Certificates of IND A1+ 50000 Affirmed deposit programme Dachser India Pvt Ltd Non-FB limits IND A1 40 Withdrawn Hindustan Windows Mfg. Co. non-FB limits IND A4 40 Withdrawn Hpl Electric & Power Ltd CP IND A1 700 Affirmed (carved out of fund-based facilities) Maktel Power Ltd Non-FB Fac IND A4+ 125 Assigned Shrini Softex India Ltd Non-FB WC Fac IND A4+ 20 Withdrawn (facility has been closed) Sree Lalitha Parameswari Non-FB Fac IND A3 36.8 Affirmed Spinning Mills Pvt Ltd (reduced from INR38.2m): Victory Spinning Mills Ltd Non-FB WC limits IND A3 44.1 Affirmed LONG TERM RATINGS: ------------------- Bhadreswar Rice Mill Long-TL IND BB+ 14.03 Suspended Bhadreswar Rice Mill FB WC limits IND BB+ 120 Suspended Dachser India Pvt Ltd FB limits IND A- 290 Withdrawn Habib Textile Pvt Ltd Long-TL IND B+ 27 Withdrawn Habib Textile Pvt Ltd FB WC limits IND B+ 96 Withdrawn Hindustan Windows Mfg. Co. FB limits IND B- 65 Withdrawn Hpl Electric & Power Ltd FB WC Fac IND A /IND A1 160 upgraded from IND A- / Affirmed (increased from INR3,870m) Hpl Electric & Power Ltd Non-FB limits IND A /IND A1 230 upgraded from IND A- / Affirmed (increased from INR5,250m) Hpl Electric & Power Ltd WC Fac IND A /IND A1 90 upgraded from IND A- / Reaffirmed (reduced from INR1,360m) Hpl Electric & Power Ltd Long-TL IND A-/RWP 1395.1 Withdrawn Knr Muzaffarpur Barauni Tollway Bk loan IND BB+ 3180 Assigned Pvt Ltd Kurinji Spinning Mills P Ltd FB limits IND BB- 130 Withdrawn Kurinji Spinning Mills P Ltd Long-TL IND BB- 145.9 Withdrawn M C Knitting Mills FB limits IND D 90 Withdrawn M C Knitting Mills Long-TL IND D 12.5 Withdrawn M/S Satkar Industries Pvt Ltd FB WC IND BB 95 Assigned M/S Satkar Industries Pvt Ltd Long-TL IND BB 4.13 Assigned Maktel Power Ltd FB Fac IND BB 105 Assigned Mfl Securitisation Trust -Xliii liquidity facility IND AA(SO) 70.3 Assigned Mfl Securitisation Trust -Xliii Series A1 PTC IND AA(SO) 3854.04 Assigned Mfl Securitisation Trust -Xliii Series A2 PTCs IND AA(SO) 160.58 Assigned Mfl Securitisation Trust -Xliii second loss credit IND BBB(SO) 333.21 Assigned facility Ntpc Bhel Power Projects Pvt LtdNon-FB limits IND BBB+ / IND A2 1520 Downgraded from IND A+ / IND A1+ Ntpc Bhel Power Projects Pvt LtdFB limits IND BBB+ / IND A2 300 Downgraded from IND A+ / IND A1+ (interchangeable between fund-based and non-fund based) Ntpc Bhel Power Projects Pvt LtdNon-FB limits IND BBB+ / IND A2 180 Downgraded from IND A+ / IND A1+ Saa Vishnu Bakers Pvt Ltd Term-loan 1 IND BB+ 101.3 upgraded from IND BB Saa Vishnu Bakers Pvt Ltd Term-loan 2 IND BB+ 8.44 upgraded from IND BB Saa Vishnu Bakers Pvt Ltd Term-loan 3 IND BB+ 8.5 upgraded from IND BB Saa Vishnu Bakers Pvt Ltd FBL IND BB+* 50 Assigned *The assignment of final rating on fund based is contingent upon the execution of sanction letter for the above Shrini Softex India Ltd TL IND BB 74.2 Affirmed (decreased from INR122.2m) Shrini Softex India Ltd FB WC Fac IND BB / IND A4+ 200 Affirmed (increased from INR120m) Sree Lalitha Parameswari Long-TL IND BBB- 136.5 Affirmed Spinning Mills Pvt Ltd (reduced from INR189.3m) Sree Lalitha Parameswari FB Fac IND BBB- / IND A3 200 Affirmed Spinning Mills Pvt Ltd (Increased from INR192.5m) Supreme Petrochem Ltd FB limits IND A+ / IND A1+ 1000* upgraded from IND A / IND A1 * Interchangeable with the non-fund-based limits Supreme Petrochem Ltd non-FB limits IND A+ / IND A1+ 11200* upgraded from IND A / IND A1 * Interchangeable with the non-fund-based limits (reduced from INR11,850m) The Saswad Mali Sugar Factory long-TL IND B+ 868.4 upgraded from Ltd IND B (increased from INR712.9m) The Saswad Mali Sugar Factory CC limits IND B+ 764.7 upgraded from Ltd IND B (reduced from INR1,024.7m) Victory Spinning Mills Ltd Long-TL IND BBB- 439.3 Affirmed (increased from INR375.3m) Victory Spinning Mills Ltd FB WC limits IND BBB- / IND A3 250 Affirmed (increased from INR190m) ----------------------------------------------------------------------------------------------- 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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