November 8, 2012 / 4:52 AM / 5 years ago

CARE ratings for Indian debt instruments-Nov 8

Nov 8 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 7, 2012.

COMPANY                             INSTRUMENT           RATING        AMOUNT      MOVEMENT
                                                                       (RS.MLN)
-------                             ----------           ------        -------     ---------
SHORT TERM RATINGS:
-------------------
Airoil-Flaregas Pvt Ltd             ST Non-FB Bk Fac -  CARE A3         150        Reaffirmed
                                    BG
Airoil-Flaregas Pvt Ltd             ST Non-FB Bk Fac -  CARE A3         12.5       Reaffirmed
                                    LOC

C. M. Smith & Sons Ltd              ST Bk Fac           CARE A4         225        Reaffirmed
Everonn Education Ltd               ST Bk Fac           CARE A4         580        Revised from
                                                                                   CARE A3
Nice Projects Pvt. Ltd              ST Bk Fac           CARE A3         380        Reaffirmed
(reduced from Rs.44 crore)
Paramount Minerals And Chemicals LtdST Bk Fac           CARE A3         393.7      Reaffirmed
Radico Nv Distilleries Maharashtra  ST Bk Fac           CARE A3         15         Reaffirmed
Ltd
Sewri Engineering Company Pvt Ltd   ST Bk Fac           CARE A4         50         Assigned
Tlt Engineering India Pvt. Ltd      ST Non-FB Bk Fac -  CARE A3         300        Reaffirmed
                                    BG
Tlt Engineering India Pvt. Ltd      ST Non-FB Bk Fac -  CARE A3         40         Reaffirmed
                                    LOC
Universal Texturisers Pvt Ltd       ST Bk Fac           CARE A4+        200        Reaffirmed

LONG TERM RATINGS:
-------------------
Airoil-Flaregas Pvt Ltd             LT FB Bk Fac - CC   CARE BBB        45         Reaffirmed
Business Broadcast News Pvt Ltd     LT Bk Fac           CARE AAA (SO)@  219.4      Reaffirmed
@ The ratings are backed by credit enhancement in the form of unconditional and irrevocable
corporate guarantee from Reliance Capital Limited (RCL) rated CARE AAA2 (long-term debt) / CARE
AA+ (subordinated debt) / CARE PP-MLD AAA (equity-linked debenture).

Business Broadcast News Pvt Ltd     LT Bk Fac           CARE AAA (SO)@  1000       Reaffirmed
(enhanced from Rs.50 crore)
@ The ratings are backed by credit enhancement in the form of unconditional and irrevocable
corporate guarantee from Reliance Capital Limited (RCL) rated CARE AAA2 (long-term debt) / CARE
AA+ (subordinated debt) / CARE PP-MLD AAA (equity-linked debenture).

Business Broadcast News Pvt Ltd     LT Bk Fac           CARE AAA (SO)@  400        Reaffirmed
@ The ratings are backed by credit enhancement in the form of unconditional and irrevocable
corporate guarantee from Reliance Capital Limited (RCL) rated CARE AAA2 (long-term debt) / CARE
AA+ (subordinated debt) / CARE PP-MLD AAA (equity-linked debenture).

Business Broadcast News Pvt Ltd     NCD                 CARE AAA (SO)@  500        Reaffirmed
@ The ratings are backed by credit enhancement in the form of unconditional and irrevocable
corporate guarantee from Reliance Capital Limited (RCL) rated CARE AAA2 (long-term debt) / CARE
AA+ (subordinated debt) / CARE PP-MLD AAA (equity-linked debenture).
C. M. Smith & Sons Ltd              LT Bk Fac           CARE B+         975        Revised from
                                                                                   CARE B
Everonn Education Ltd               LT Bk Fac           CARE BB-        7302.9     Revised from
                                                                                   CARE BBB-
Everonn Education Ltd               LT/ST Bk Fac        CARE BB-        200        Revised from
                                                        /CARE A4                   CARE BBB- /
                                                                                   CARE A3
Haldia Bulk Terminals Pvt Ltd       LT/ST Bk Fac        CARE BB(SO)     220                  
                                                        /CARE A4  %                            
Haldia Bulk Terminals Pvt Ltd       LT Bk Fac           CARE BB(SO)* %  1000                
*includes Non-fund based sub limit of Rs.90.40 crore
Jharkhand Road Projects             LT Loans            CARE BBB-       2303.2     Reaffirmed
Implementation Co Ltd
Jharkhand Road Projects             LT Loans            CARE BBB-       2942.7     Reaffirmed
Implementation Co Ltd
Jharkhand Road Projects             LT Loans            CARE BBB-       5532.5     Reaffirmed
Implementation Co Ltd
Nainital Tarai Seeds Ltd            LT Bk Fac           CARE BB         98.1       Reaffirmed
(enhanced from 8.35 Crore)
Nice Projects Pvt. Ltd              LT Bk Fac           CARE BBB        120        Reaffirmed
(enhanced from Rs.6 crore)
Paramount Minerals And Chemicals LtdLT Bk Fac           CARE BBB-       76.5       Reaffirmed
Paramount Minerals And Chemicals LtdLT/ST Bk Fac        CARE BBB-       30         Reaffirmed
                                                        /CARE A3
R.K. Agarwal Agro Seeds Ltd         LT Bk Fac           CARE BB         125.7      Reaffirmed
(enhanced from 10.00 Crore)
Radico Nv Distilleries Maharashtra  LT Bk Fac*          CARE A+(SO)     140        Reaffirmed
Ltd
* Backed by unconditional and irrevocable Corporate Guarantee (100%) from Radico Khaitan Ltd
(rated CARE A+/A1)
Radico Nv Distilleries Maharashtra  LT Bk Fac           CARE BBB-       604.5      Reaffirmed
Ltd
Radico Nv Distilleries Maharashtra  LT Bk Fac**         CARE BBB(SO)    626        Reaffirmed
Ltd
**Backed by Partial unconditional and irrevocable Corporate Guarantee (36%) from Radico Khaitan
Ltd
Savitribai Phule Shikshan Prasarak  LT Bk Fac FB        CARE D          1309.8     Revised from
Mandal                                                                             CARE BB+
Sewri Engineering Company Pvt Ltd   LT Bk Fac           CARE C          49.5       Assigned
Shalimar Thermocole Products        LT Bk Fac           CARE BB-        49.8       Assigned
Shemaroo Entertainment Ltd          LT Bk Fac           CARE BBB-       910        Reaffirmed
(Enhanced from Rs.89 crore)
Shemaroo Entertainment Ltd          LT Bk Fac           CARE BBB+(SO)   90         Reaffirmed
(Reduced from Rs.28.80 crore)
Shri Parasnath Alloys Pvt Ltd.      LT Bk Fac           CARE BB-        65.3       Assigned
Suyash Chemicals & Fertilizers Pvt  LT Bk Fac           CARE B+         410.3      Assigned
Ltd
Timarpur Okhla Waste Management Co  LT Bk Fac@          CARE BBB-(SO)   1439.3     Revised from
Pvt Ltd                                                                            CARE BBB-
@ backed by unconditional and irrevocable guarantee of Jindal ITF Limited. Previously, the
rating reflected the standalone credit quality of TOW
Tlt Engineering India Pvt. Ltd      LT FB Bk Fac - CC   CARE BBB-       60         Reaffirmed
Universal Texturisers Pvt Ltd       LT Bk Fac           CARE BB+        8.3        Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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