Ind-Ra Migrates PTC India Limited to Suspended Category

Ind-Ra-New Delhi-22 December 2014: India Ratings & Research (Ind-Ra) has migrated the ‘IND A1+’ rating on PTC India Limited’s INR1bn short-term debt/commercial paper programme to the suspended category. The rating will now appear as ‘IND A1+(suspended)’ on the agency’s website. The agency has also migrated the ‘IND A1+’ rating on the company’s INR5bn short-term non-fund based limits to ‘IND A1+(suspended).

The ratings have been migrated to the suspended category due to lack of adequate information. Ind-Ra will no longer provide ratings or analytical coverage for PTC India Limited.

The ratings will remain in the suspended category for a period of six months and be withdrawn at the end of that period. However, in the event the issuer starts furnishing information during the six-month period, the ratings could be reinstated and will be communicated through a rating action commentary.

Contacts:
Primary Analyst
Vivek Jain
Senior Analyst
+91 11 4356 7249
India Ratings & Research Pvt Ltd
6th Floor Prakashdeep Building,
7 Tolstoy Marg
Connaught Place, New Delhi 110001

Secondary Analyst
Salil Garg
Director
+91 11 4356 7244

Committee Chairperson
Rakesh Valecha
Senior Director
+91 22 4000 1740

Media Relations: Saraanya Shetty, Mumbai, Tel: + 91 22 4000 1729, Email:
saraanya.shetty@indiaratings.co.in.

Additional information is available at
www.indiaratings.co.in. The ratings above were solicited by, or on behalf of, the issuer, and therefore, India Ratings has been compensated for the provision of the ratings. The issuer did not participate in the rating process, or provide additional information, beyond the issuer's available public disclosure.

Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer.

Applicable criteria, ‘Corporate Rating Methodology’, dated 12 September 2012, are available at
www.indiaratings.co.in.

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India Ratings & Research (India Ratings) has six rating offices located at Mumbai, Delhi, Chennai, Kolkata, Bangalore and Hyderabad. India Ratings is recognised by Reserve Bank of India, Securities Exchange Board of India (SEBI) and National Housing Bank.

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