Dec 26 (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 24, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ------ ---------
SHORT TERM RATINGS:
-------------------
Bob Financial Solutions Ltd CP* IND A1+ 5000 Assigned
* Unutilised
Jayalakshmi Textiles Pvt Ltd Non-FB limits IND A3 30 Affirmed
LONG TERM RATINGS:
-------------------
Brilliant Estates Ltd FB facility IND BBB/Negative 280 Assigned
Brilliant Estates Ltd TL IND BBB/Negative 1691.2 Downgraded
(reduced from INR1720.5)
Brilliant Estates Ltd Proposed TL* Provisional IND 200 Downgraded
BBB/Negative
* The rating is provisional and shall be confirmed upon the sanction and execution of the loan
documents for the above facility by BEL to the satisfaction of Ind-Ra.
Brilliant Hotels Pvt Ltd Proposed FB limit* IND BBB /Stable/ 100 Assigned
IND A3+
*The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facility by BHPL to the satisfaction of Ind-Ra.
Brilliant Hotels Pvt Ltd TL IND BBB/Stable 532.5 Downgraded
(reduced from INR550 million)
Brilliant Hotels Pvt Ltd FB limit IND BBB/Stable 100 Downgraded
Brilliant Spaces Ltd FB facility IND BBB/Negative 50 Assigned
Brilliant Spaces Ltd TL IND BBB/Negative 1174.9 Downgraded
Brilliant Spaces Ltd Proposed TL* Provisional IND 223.6 Downgraded
BBB/Negative
*The rating is provisional and shall be confirmed upon the sanction and execution of loan
documents for the above facility by BSL to the satisfaction of Ind-Ra.
Choudhary Builders Pvt. Ltd FB limit IND BB+/Stable 175 Downgraded
Drn Infrastructure Pvt Ltd FB limits IND 0.1 Assigned
BBB+/Stable/IND
A2
Drn Infrastructure Pvt Ltd Non-FB limits IND 0.4 Assigned
BBB+/Stable/IND
A2
First Business Receivables PTCs Provisional IND 156 Assigned
Trust’S 48 AAA(SO)/Stable
Gupta Builders And Promoters TL IND BBB-/Stable 733 Affirmed
Pvt Ltd
(reduced from INR952.8)
Gupta Builders And Promoters Proposed TL WD 650 WD
Pvt Ltd
Indo German International Pvt FB limits* WD 150 Affirmed &
Ltd withdrawn
*Affirmed at ‘IND BB-/Stable/IND A4+’ before being withdrawn
Indo German International Pvt Non-FBL** WD 200 Affirmed &
Ltd withdrawn
** Affirmed at ‘IND A4+’ before being withdrawn
Jayalakshmi Textiles Pvt Ltd TL IND BBB- 27.89 Affirmed
/Negative
Outlook revised to Negative from Stable,(decreased from INR50 million)
Jayalakshmi Textiles Pvt Ltd TL IND BBB- 144.6 Affirmed
/Negative
Jayalakshmi Textiles Pvt Ltd FB limits IND BBB- 150 Affirmed
/Negative /IND A3
Outlook revised to Negative from Stable
Lts Plastics (I) Pvt Ltd FB WC limit (LT) IND D 120 Downgraded
Issuer did not cooperate; based on the best-available information
Lts Plastics (I) Pvt Ltd Non-FB limit (ST) IND D 61 Downgraded
Issuer did not cooperate; based on the best-available information
Manik Commercial Pvt. Ltd FB limits (LT) IND D 30 Downgraded
Issuer Not Cooperating
Manik Commercial Pvt. Ltd TL (LT) IND D 49 Downgraded
Issuer Not Cooperating
Manik Commercial Pvt. Ltd Non-FB limit (ST) IND D 2.46 Downgraded
Issuer Not Cooperating
Mgi India Pvt Ltd TL (LT) IND D 3.54 Downgraded
Issuer not cooperate; based on the best-available information
Mgi India Pvt Ltd FB WC limits (LT) IND D 40 Downgraded
Issuer not cooperate; based on the best-available information
Mgi India Pvt Ltd Non-FB WC limits (ST) IND D 50 Downgraded
Issuer not cooperate; based on the best-available information
Nirma Ltd Perpetual NCDs (NCDs) IND AA-/Stable 15000 Affirmed
Pr Pvt Ltd FB WC limit (LT) IND D 80 Downgraded
Issuer did not cooperate; based on the best-available information
Vikram Hospital (Bengaluru) Pvt FB limit IND BBB-/ 50 Assigned
Ltd Stable/IND A3
Vikram Hospital (Bengaluru) Pvt TL IND BBB-/Stable 133.93 Assigned
Ltd
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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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