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PR1+(SO)-       Withdrawn Era Infra Engineering Ltd         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) 
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Wilful Negligence?

Wilful Negligence?

SEBI piles pressure on Sahara to sell overseas hotels  Full Article 

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage