Jan 7 (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
January 6, 2020.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ------ ---------
SHORT TERM RATINGS:
-------------------
A K Lumbers Ltd Non-FB limits IND A4+(ISSUER 90.5 -
NOT COOPERATING)
(Migrated to non-cooperating category. Note: ISSUER NOT COOPERATING: The ratings were last
reviewed on 3 January 2019. Ind-Ra is unable to provide an update, as the agency does not have
adequate information to review the ratings.)
Jindal Wood Products Pvt Ltd Non-FB limits IND A4+(ISSUER 170 -
NOT COOPERATING)
(Migrated to non-cooperating category. Note: ISSUER NOT COOPERATING: The ratings were last
reviewed on 3 January 2019. Ind-Ra is unable to provide an update, as the agency does not have
adequate information to review the ratings.)
Punjab Metal Works Pvt Ltd Non-FB limits IND A4+(ISSUER 35 -
NOT COOPERATING)
(Migrated to non-cooperating category. Note: ISSUER NOT COOPERATING: The ratings were last
reviewed on 3 January 2019. Ind-Ra is unable to provide an update, as the agency does not have
adequate information to review the ratings.)
Saranya Spinning Mills Pvt Ltd Non-FB Fac IND A4+ 5.4 Downgraded
LONG TERM RATINGS:
-------------------
A K Lumbers Ltd FB limits IND BB-(ISSUER 45 -
NOT
COOPERATING)/IND A4+
(ISSUER NOT
COOPERATING)
(Migrated to non-cooperating category. Note: ISSUER NOT COOPERATING: The ratings were last
reviewed on 3 January 2019. Ind-Ra is unable to provide an update, as the agency does not have
adequate information to review the ratings.)
Jindal Wood Products Pvt Ltd FB limits IND BB-(ISSUER 40 -
NOT
COOPERATING)/IND A4+
(ISSUER NOT
COOPERATING)
(Migrated to non-cooperating category. Note: ISSUER NOT COOPERATING: The ratings were last
reviewed on 3 January 2019. Ind-Ra is unable to provide an update, as the agency does not have
adequate information to review the ratings.)
Mfl Securitisation Trust Lxvii Series A1 pass-through IND 835.7 Affirmed
certificates (PTCs) AAA(SO)/Stable
Mfl Securitisation Trust Lxvii Series A2 PTCs IND 43.9 Affirmed
AAA(SO)/Stable
Mfl Securitisation Trust Lxvii Second loss credit IND 122.9 Affirmed
facility (SLCF) BBB-(SO)/Stable
Prits Leather Art Pvt Ltd FB limit IND 135 Upgraded
B+/Stable/IND A4
Punjab Metal Works Pvt Ltd FB limits IND BB-(ISSUER 20 -
NOT
COOPERATING)/IND A4+
(ISSUER NOT
COOPERATING)
(Migrated to non-cooperating category. Note: ISSUER NOT COOPERATING: The ratings were last
reviewed on 3 January 2019. Ind-Ra is unable to provide an update, as the agency does not have
adequate information to review the ratings.)
Saranya Spinning Mills Pvt Ltd Long-TL IND BB+/Stable 148.7 Downgraded
Saranya Spinning Mills Pvt Ltd FB Fac IND 400 Downgraded
BB+/Stable/IND
A4+
The Punjab State Cooperative FB limits* - 1400 Affirmed and
Milk Producers’ Federation Ltd withdrawn
(*Maintained at ‘IND BBB(ISSUER NOT COOPERATING)’/‘IND A2(ISSUER NOT COOPERATING)’ before being
withdrawn)
The Punjab State Cooperative Non-FB limits* - 200 Affirmed and
Milk Producers’ Federation Ltd withdrawn
(*Maintained at ‘IND BBB(ISSUER NOT COOPERATING)’/‘IND A2(ISSUER NOT COOPERATING)’ before being
withdrawn)
Vigneswara Thermal Power Pvt LtdSenior project TL IND BBB-/Negative400 Affirmed
(outstanding INR282.5 as on 31 October 2019)
Vigneswara Thermal Power Pvt LtdLoan equivalent to IND 53 Affirmed
facility BBB-/Negative
-----------------------------------------------------------------------------------------------
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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