January 31, 2014 / 5:08 AM / 3 years ago

CARE ratings for Indian debt instruments-Jan 31

6 Min Read

Jan 31 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 30, 2014.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                      (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Adinath Motors                        ST Bk Fac          CARE A4        5       Reaffirmed
Ankur Scientific Energy Technologies  ST Bk Fac          CARE A3+       10      Reaffirmed
Pvt Ltd
(enhanced from 5 Cr)

Jindal Stainless Steelway Ltd         ST Bk Fac          CARE A4        90      Revised from
                                                                                CARE A3
Maharani Paints Pvt Ltd               ST Bk Fac          CARE A3+       20      Reaffirmed
Pact Industries Ltd                   ST Bk Fac          CARE A4        40      Assigned
Pranavaditya Spinning Mills Ltd       ST Bk Fac          CARE A4        10      Assigned
Pushp Forging Pvt Ltd                 ST Bk Fac          CARE A4        50.8    Reaffirmed
Sharon Bio-Medicine Ltd               ST Bk Fac          CARE A3        253.2   Revised from
                                                                                CARE A4+ 

LONG TERM RATINGS:
-------------------
Adinath Motors                        LT Bk Fac          CARE B+        88      Revised from
                                                                                CARE B
Ankur Scientific Energy Technologies  LT Bk Fac          CARE BBB+      115.5   Reaffirmed
Pvt Ltd
(enhanced from 7 Cr)
Brilliant Tutorials Pvt Ltd           LT Bk Fac          CARE B         248.5   Assigned
Godawari Green Energy Ltd             LT Bk Fac          CARE BBB-      5790.6  Reaffirmed
Jindal Stainless Steelway Ltd         LT Bk Fac          CARE BB        1235.4  Revised from
                                                                                CARE BBB-
Jindal Stainless Steelway Ltd         LT Bk Fac @        CARE BBB (SO)  229.9   Revised from
                                                                                CARE BBB-
@ backed by unconditional and irrevocable corporate guarantee provided by Nalwa Sons Investments
Ltd
Maharani Paints Pvt Ltd               LT Bk Fac          CARE BBB       265     Reaffirmed
Maharani Paints Pvt Ltd               LT/ST Bk Fac       CARE BBB /CARE 70      Reaffirmed
                                                         A3+
Pact Industries Ltd                   LT Bk Fac          CARE B+        105.9   Assigned
Pawan Autowheels Pvt Ltd              LT Bk Fac          CARE B         103     Reaffirmed
Pranavaditya Spinning Mills Ltd       LT Bk Fac          CARE B+        140     Assigned
Pushp Forging Pvt Ltd                 LT Bk Fac          CARE BB-       92.5    Reaffirmed
Sharon Bio-Medicine Ltd               LT Loans           CARE BBB-      1213.1  Revised from
                                                                                CARE BB+
Sharon Bio-Medicine Ltd               LT Bk Fac          CARE BBB-      4000    Revised from
                                                                                CARE BB+
Suasth Healthcare (India) Pvt Ltd     LT Bk Fac          CARE BBB-      1470    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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