Acuite Ratings & Research Limited

RESEARCH & OPINION

Food category pulls up the March inflation number marginally, core inflation however stumbles due to weak consumer demand
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Commentary: MPC – First Bi-Monthly Statement FY20
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Weekly Macro Data Coverage April 08, 2019
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Weekly Macro Data Coverage April 01, 2019
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Indian 10 years forward yields have declined by 82 bps since September 2018; may decline further in a 6-month period despite upward pressures emanating from significant safe haven demand for US debt
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Weekly Macro Data Coverage March 25, 2019
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RBI’s $5 Billion Currency Swap can meet three months of systemic shortfall; OMOs lose potency due to fast emerging collateral constraints
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Improvement in trade deficit may help the CAD ratio to remains range bound. We peg the metric at 2.4% of GDP for FY19
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Weekly Macro Data Coverage March 18, 2019
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Unaccepted Ratings
(DISCLOSURE AS PER SEBI CIRCULAR SEBI/ HO/ MIRSD/ DOP2/ CIR/ P/ 2018/ 86)

Acuité discloses the ratings that remain unaccepted 30 days after the communication of Rating. In compliance with SEBI circular effective May 30, 2018, all non-accepted ratings shall be disclosed on the website of Acuité for a period of 12 months from the date of such rating being disclosed as a non-accepted rating on the website.

Name of the Issuer	Sector	Instrument Type	Issue Size (In Cr.)	Rating Communication Date	Listing Status	Long Term Rating	Outlook	Short Term Rating
3B FILMS PRIVATE LIMITED	Plastic films & flexible packaging	Bank Facilities	39	43272	Unlisted	ACUITE B+	Stable	-
A G BABU SAH	Retail Trading	Bank Facilities	9	43398	Unlisted	ACUITE B-	Stable	-
A G CONSTRUCTION	Infrastructural construction	Bank Facilities	60	43280	Unlisted	ACUITE BB	Stable	ACUITE A4+
A ONE FOOTWEARS PRIVATE LIMITED	Footwear	Bank Facilities	15.6	43374	Unlisted	ACUITE BB	Stable	ACUITE A4+
A P REFINERY PRIVATE LIMITED	Vegetable oils & products	Bank Facilities	100	43446	Unlisted	ACUITE BBB-	Stable	-
A STAR CREATIONS LLP	Other textiles	Bank Facilities	14	43500	Unlisted	ACUITE B-	Stable	-
AAA ROLLER FLOUR MILLS PRIVATE LIMITED	Other agricultural products	Bank Facilities	23	43354	Unlisted	ACUITE BB	Stable	-
AAACORP EXIM INDIA PRIVATE LIMITED	Wholesale trading	Bank Facilities	34.5	43468	Unlisted	ACUITE D	-	ACUITE D
AADHAVAN SPINNERS PRIVATE LIMITED	Textile processing	Bank Facilities	6.9	43367	Unlisted	ACUITE B+	Stable	-
AANCHAL ISPAT LIMITED	Steel	Bank Facilities	25	43235	Listed	ACUITE BB+	Stable	-
AASTHA SPINTEX PRIVATE LIMITED	Cotton & blended yarn	Bank Facilities	77	43420	Unlisted	ACUITE BB-	Stable	-
ABHI DIAGNOSTICS IMAGINGS PRIVATE LIMITED	Health services	Bank Facilities	20.38	43231	Unlisted	ACUITE D	-	-
ABN TOWER AND TRANSMISSION PRIVATE LIMITED	Generators, transformers & switchgears	Bank Facilities	25	43510	Unlisted	ACUITE BB+	Stable	ACUITE A4+
ABT INDUSTRIES LIMITED	Diversified automobile	Bank Facilities	10	43535	Unlisted	ACUITE BB+	Stable	ACUITE A4+
ACCORD CHEMICAL CORPORATION	Other chemical products	Bank Facilities	25	43341	Unlisted	ACUITE B+	Stable	-
ACETECH PEB SYSTEMS PRIVATE LIMITED	Engines	Bank Facilities	10	43311	Unlisted	ACUITE B+	Stable	ACUITE A4
ACME EXCELLENT MANAGEMENT PRIVATE LIMITED	Business services & consultancy	Bank Facilities	13	43374	Unlisted	ACUITE BB+	Stable	ACUITE A4+
ACME ODISHA SOLAR POWER PRIVATE LIMITED	Renewable electricity	Bank Facilities	166	43346	Unlisted	ACUITE A	Stable	-
ACME RAIPUR SOLAR POWER PRIVATE LIMITED	Renewable electricity	Bank Facilities	146	43346	Unlisted	ACUITE A	Stable	-
ACME SOLAR TECHNOLOGIES GUJARAT PRIVATE LIMITED	Renewable electricity	Bank Facilities	128	43403	Unlisted	ACUITE A	Stable	-
ACME YAMUNANAGAR SOLAR POWER PRIVATE LIMITED	Renewable electricity	Bank Facilities	110	43405	Unlisted	ACUITE A-	Stable	-
ADARSH FOOD PRODUCTS PRIVATE LIMITED	Other agricultural products	Bank Facilities	13	43437	Unlisted	ACUITE BB-	Stable	-
ADISON GRANITO PRIVATE LIMITED	Ceramic products	Bank Facilities	99.4	43390	Unlisted	ACUITE B+	Stable	ACUITE A4
ADITYA PACK PLAST PRIVATE LIMITED	Plastic films & flexible packaging	Bank Facilities	10	43306	Unlisted	ACUITE B-	Stable	-
ADITYA THERMOPACK PRIVATE LIMITED	Plastic furniture, floorings & miscellaneous items	Bank Facilities	10	43258	Unlisted	ACUITE D	-	-

Our exciting journey started in 2005 with rating of bank borrowers most of whom were small and medium enterprises. At that time, credit rating was a concept known only to large issuers of capital market instruments. Since then, like a caterpillar transforms itself into a beautiful butterfly, we transformed to rate bonds, bank facilities of large corporates and issuers across industries. Along came many achievements - SEBI Registration in 2011, RBI accreditation in 2012, 50,000 ratings in 2018, 5,000 Bond and Bank Loan Ratings in 2017, launch of India's first Android and iPhone app to disseminate rating, tamper-proof QR-code-enabled rating rationales, and SMERA Terminal to name a few.

Now is the time to re-emphasize our increasing footprint across all segments of ratings through the launch of our new name - 'Acuité'.

The name has changed. The spirit of upholding highest standards of analytical rigour, continuous improvement, excellence in our processes and quest for innovation remains the same. We would like to re-emphasize that we will continue to work hard to provide independent, unbiased and timely opinion of highest standard.

Acuité means 'sharpness and clarity of thought and vision'. Let our research and ratings help you take decisions with confidence.

Sankar Chakraborti
CEO