September 17, 2012 / 5:03 AM / 5 years ago

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
-------                             ----------           ------        -------     ---------
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)

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
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
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
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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below