Dec 4 (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 3, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ------ ---------
SHORT TERM RATINGS:
-------------------
Glenmark Life Sciences Proposed non-FB limits Provisional IND 1000 Assigned
A1+
Scs Constructions India Non-FB limit IND A4+ 35 -
(Migrated to Non-Cooperating Category)
LONG TERM RATINGS:
-------------------
Akshara Operating Lease TL INR BBB-/RWE 374.2 Placed on RWE
Amar Ujala TL IND A+/RWE 2230 Placed on RWE
Amar Ujala Fund based and non-FB IND A+/RWE/IND 1900 Placed on RWE
WC limits A1+/RWE
Amar Ujala CP IND A1+/RWE 700 Placed on RWE
Epari’S Jewellers FB limits IND B 64 -
(Migrated to Non-Cooperating Category)
Ganesh Sponge FB limit (LT) IND D 260 -
(Migrated to Non-Cooperating Category)
Ganesh Sponge TL (LT) IND D 55.63 -
(Migrated to Non-Cooperating Category)
Geetanjali Vastralaya FB WC limits IND B+ 100 -
(Migrated to Non-Cooperating Category)
Glenmark Life Sciences Proposed FBL Provisional IND 4000 Assigned
AA-/Stable
Rswm TL IND A-/Negative 6858.4 Downgraded
Rswm FB limits IND 8200 -
A-/Negative/IND
A1
(Long-term rating downgraded; short-term rating affirmed)
Rswm Non-FB limits IND 1485 -
A-/Negative/IND
A1
(Long-term rating downgraded; short-term rating affirmed)
Scs Constructions India TL IND BB+ 19.17 -
(Migrated to Non-Cooperating Category)
Scs Constructions India FB limit IND BB+ 50 -
(Migrated to Non-Cooperating Category)
Silver Oak Shops Offices TL IND BBB- 147.3 -
(Migrated to Non-Cooperating Category)
Silver Oak Shops Offices Overdraft IND BBB- 260 -
(Migrated to Non-Cooperating Category)
State Bank Of India Basel III Tier II BondsIND AAA/Stable 100000 Affirmed
Ubl Trust 8 Series A1 pass-through Provisional IND 948.9 Assigned
certificates (PTCs) AA(SO)/Stable
Vivriti Asgard 11 Series A2 PTCs Provisional IND 35.1 Assigned
A(SO)/Stable
Vivriti Asgard 11 Series A1 pass-through Provisional IND 180.2 Assigned
certificates (PTCs) AA-(SO)/Stable
-----------------------------------------------------------------------------------------------
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 The withdrawn criteria are now available on India Ratings' website at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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