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CARE ratings for Indian debt instruments-Sep 17
September 17, 2012 / 5:03 AM / in 5 years

CARE ratings for Indian debt instruments-Sep 17

Sep 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 14, 2012.

COMPANY                             INSTRUMENT           RATING        AMOUNT      MOVEMENT
                                                                       (RS.MLN)
-------                             ----------           ------        -------     ---------
SHORT TERM RATINGS:
-------------------
Alok Industries Ltd.                CP / ST NCDs*       CARE A1         10000      Reaffirmed
*carved out of sanctioned working capital limits
Bej Ceramic                         ST Bk Fac           CARE A4         10         Assigned
Bharat Pet Ltd                      ST Bk Fac           CARE A4         5          Assigned

Chandresh Cables Ltd                ST Bk Fac           CARE A4         20         Assigned
Sainath Texport Ltd.                ST Bk Fac           CARE D          10         Revised from
                                                                                   CARE A4
Syschem India Ltd                   ST Bk Fac           CARE A4         30         Assigned
Thirumalai Chemicals Ltd.           ST Bk Fac           CARE A3         3500       Reaffirmed
(Enhanced from 251.00)

LONG TERM RATINGS:
-------------------
Anand Diagnostic Laboratory         LT Bk Fac           CARE BB+        75.8       Assigned
Balar Synthetics Pvt Ltd            LT Bk Fac           CARE BB         209        Assigned
Balar Synthetics Pvt Ltd            LT/ST Bk Fac        CARE BB /CARE   1          Assigned
                                                        A4
Bej Ceramic                         LT Bk Fac           CARE B+         71.7       Assigned
Bhagyoday Agro Industries           LT Bk Fac           CARE B          84         Assigned
Bharat Pet Ltd                      LT Bk Fac           CARE B+         81.3       Assigned
Bharat Products Ltd                 LT Bk Fac           CARE B+         125        Assigned
Chandresh Cables Ltd                LT Bk Fac           CARE BB         180        Assigned
Chandresh Cables Ltd                LT/ST Bk Fac        CARE BB /CARE   20         Assigned
                                                        A4
Crp Technologies (India) Ltd        LT Bk Fac           CARE BB+        190.5      Assigned
Gopinath Educational And Welfare    LT Bk Fac           CARE D          60.9       Revised from
Society                                                                            CARE C
M.P.K. Ispat (I) Pvt Ltd            LT Bk Fac           CARE B+         150        Assigned
Man Structurals Pvt. Ltd.           LT Bk Fac           CARE BBB-       335.5      Assigned
Man Structurals Pvt. Ltd.           LT/ST Bk Fac        CARE BBB-       720        Assigned
                                                        /CARE A3
Mfl'S Assignment Of Receivables     Assignee Payouts    -               -          withdrawn
Aug-09
Mfl'S Assignment Of Receivables     Second Loss         -               -          withdrawn
Aug-09                               Facility
Panchdeep Cotton Industries         LT Bk Fac           CARE B          130        Reaffirmed
Panchdeep Cotton Industries Pvt Ltd.LT Bk Fac           CARE B          113.1      Reaffirmed
Sainath Texport Ltd.                LT Bk Fac           CARE D          452        Revised from
                                                                                   CARE BB
Syschem India Ltd                   LT Bk Fac           CARE BB-        157.5      Assigned
Thirumalai Chemicals Ltd.           LT Bk Fac           CARE BBB-       2686.2     Reaffirmed
(Enhanced from 206.34)
--------------------------------------------------------------------------------------------
$: 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; 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.

(Mumbai Rate Reporting Unit + 91 22 6180 7222/3317 7222, E-mail at rru.data@thomsonreuters.com)

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