CARE ratings for Indian debt instruments-Jun 2

Wed Jun 2, 2010 3:09pm IST

 Jun 2 (Reuters) - Below are the ratings awarded by Credit
Analysis and Research Ltd. (CARE) for local debt instruments as
of June 1, 2010. COMPANY                                
INSTRUMENT            
  RATING   AMOUNT  MOVEMENT
       (RS.MLN) ------                                 
----------            
  ------   -----   --------- SHORT TERM RATINGS:
------------------- Amtek Crankshafts (India) Ltd           ST
Bank Facilities    
PR1     20      Reaffirmed Crest Steel & Power Pvt Ltd      
   ST Bank Facilities    
PR3     159     Assigned Sks Microfinance Limited Sep-09    
 Payouts               
PR1+(SO)-       Withdrawn Era Infra Engineering Ltd         
  ST Bank Facilities    
PR2+    500     Assigned Gujarat Foils Ltd                  
 ST Bank Facilities    
PR3     110     Assigned Home Solution Retail (India) Ltd   
 ST Bank Facilities    
PR3     1050    Assigned International Conveyors Limited    
 ST Bank Facilities    
PR2+    37      Revised
                from PR2 (enhanced from 1.8 ) Juniper Hotels
Private Limited          ST Bank Facilities    
PR2+    20      Reaffirmed Jupiter International Ltd        
   ST Bank Facilities    
PR2+    400     Reaffirmed Kadevi Engineering Company Pvt.
Ltd     ST Bank Facilities    
PRR3    500     Reaffirmed (enhanced from Rs.10 cr) Shri
Lakshmi Cotsyn Ltd                 Non-fund Based Limits 
PR3     610     Assigned Tril Infopark Limited              
 STD                   
PR1+(SO)5000    Assigned Usher Agro Limited                 
 ST Bank Facilities    
PR3+    100     Assigned Websol Energy Systems Ltd          
 ST Bank Facilities    
PR3     1043    Reaffirmed (reduced from 107.2) LONG TERM
RATINGS: ------------------- Alok Infrastructure Ltd           
  Deep Discount NCD     
A(SO)   2244.5  Reaffirmed (size enhanced from Rs.200.00
crore) Amtek Crankshafts (India) Ltd           Long-term Bank
Facilities  A       3450    Reaffirmed (enhanced from Rs.108.75
cr) Crest Steel & Power Pvt Ltd             Long-term Bank
Facilities  BBB     616.2   Assigned Era Infra Engineering Ltd 
          NCDS                  
A+      1000    Assigned Era Infra Engineering Ltd          
 Long-term Bank Facilities  A+      1000    Assigned Gujarat
Foils Ltd                       Long-term Bank Facilities  BBB-
732.2   Assigned Home Solution Retail (India) Ltd       
Long-term Bank Facilities  BBB-    3380    Assigned
International Conveyors Limited         Long-term Bank
Facilities  A-      250     Revised
                from BBB+ (enhanced from Rs.14.0 crore)
International Conveyors Limited         Long/short-term bank
Fac   A-/PR2+ 250     Revised
                from
                                        BBB+/PR2 (enhanced
from 10.0 ) Jhabua Power Ltd                        Long-term
Loans from BK
BBB     20000   Assigned Jhabua Power Ltd                   
 Long-term Loan from LIC
BBB     1800    Assigned Juniper Hotels Private Limited     
 Long-term Bank Facilities  BBB+    4301.4  Reaffirmed
Jupiter International Ltd               Long-term Bank
Facilities  BBB+    318.9   Reaffirmed (reduced from Rs.41.36
cr) Kadevi Engineering Company Pvt. Ltd     Long-term Bank
Facilities  BBB-    999.3   Revised
                from BBB (enhanced from Rs.44.48 cr) Shri
Lakshmi Cotsyn Ltd                 NCD                   
BBB+    500     Assigned Shri Lakshmi Cotsyn Ltd            
 TL                    
BBB+    4906.4  Assigned Shri Lakshmi Cotsyn Ltd            
 Fund-based Limits     
BBB+    4500    Assigned Shriram Transport Finance Co. Ltd. 
 NCD                   
AA+     500     Assigned Shriram Transport Finance Co. Ltd. 
 NCD                   
AA+     5000    Assigned Shriram Transport Finance Co. Ltd. 
 Subordinate Debt      
AA+     3000    Assigned Shriram Transport Finance Co. Ltd. 
 NCD                   
AA+     5000    Assigned Shriram Transport Finance Co. Ltd. 
 Subordinate Debt      
AA+     3000    Assigned Shriram Transport Finance Co. Ltd. 
 NCD                   
AA+     10000   Assigned Shriram Transport Finance Co. Ltd. 
 PTC                   
AA+(SO) 6325    Assigned Tril Infopark Limited              
 Long-term Bank Facilities  BBB     17500   Assigned Usher
Agro Limited                      Long-term Bank Facilities 
BBB+    2362.8  Assigned Websol Energy Systems Ltd             
 Long-term Bank Facilities  BBB-    1366    Reaffirmed (reduced
from 135.1) Websol Energy Systems Ltd               Long-term
Bank Facilities/ BBB-/PR3310     Reaffirmed
                                     Short-term Bank
Facilities
----------------------------------------------------------------
 ----------------------------$: 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 CARE may apply
+ or - signs for ratings to reflect a comparative standing
within the category. BG-Bank Guarantee; 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.
(Mumbai Rate Reporting Unit + 91 22 6636 9222, E-mail at
rru.data@reuters.com)