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CARE ratings for Indian debt instruments-Nov 20
November 20, 2014 / 5:17 AM / 3 years ago

CARE ratings for Indian debt instruments-Nov 20

Nov 20 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 19, 2014.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aroma Organics Ltd                    ST Bk Fac          CARE A4        174.5   Reaffirmed
(enhanced from 13.50cr)
Cenlub Industries Ltd                 ST Bk Fac          CARE A4        30      Reaffirmed
Jaiprakash Associates Ltd             ST Bk Fac          CARE A2        13000   Revised from
                                                                                CARE A1
Soltex Petroproducts Ltd              ST Bk Fac          CARE A4+       50      Reaffirmed
(enhanced from Rs.3 crore)
Tirupati Balaji Fibres Ltd            ST Bk Fac          CARE A3        0.5     Revised from
                                                                                CARE A4
Weldwell Electrodes                   ST Bk Fac          CARE A3+       17.5    Assigned

LONG TERM RATINGS:
-------------------
Aria Hotels & Consultancy Services PvtLT Bk Fac          CARE BB-       5960    Assigned
Ltd
Aroma Organics Ltd                    LT Bk Fac          CARE BB        5.5     Reaffirmed
Cenlub Industries Ltd                 LT Bk Fac          CARE BB        140     Reaffirmed
Cesc Properties Ltd                   LT Bk Fac          CARE A-        2100    Assigned
Divyansh Infracon Pvt Ltd             Bk facility        CARE BB-       -       Withdrawn
Jaiprakash Associates Ltd             LT Bk Fac          CARE A-        191680.7Revised from
                                                                                CARE A
Jaiprakash Associates Ltd             LT NCDs            CARE A-        40233.3 Revised from
                                      (aggregate) IV, V,                        CARE A
                                      VIII, X, XI, XII, XIII
Jaiprakash Associates Ltd             Long/ST Bk Fac     CARE A-/CARE A248120   Revised from
                                                                                CARE A/CARE A1
Mahindra Aero Structure Pvt Ltd       LT FB Bk Fac       CARE BBB +     910     Reaffirmed
(reduced from 100cr)
Mahindra Aero Structure Pvt Ltd       LT Non-fund Bk Fac CARE BBB +     130     Reaffirmed
Rhc Holding Pvt Ltd                   Proposed LT NCD    CARE A (SO)    5000    Assigned
                                      (NCD)*
*'In-principle' rating assigned based on indicative terms of the proposed transaction. Final
rating would be assigned subject to putting in place the structure as envisaged, execution of
various documents including a pledge agreement, and a legal opinion, to the satisfaction of
CARE, to be provided by RHC.
Sarthi Construction                   LT Bk Fac          CARE BB+       19.8    Revised from
                                                                                CARE BB
Sarthi Construction                   LT/ST Bk Fac       CARE BB+/CARE  95.8    Revised from
                                                         A4+                    CARE BB/CARE
                                                                                A4
Shah Nanji Nagsi Exports Pvt Ltd      Long -term / Short CARE BB /CARE  550     Reaffirmed
                                      -term Bk Fac       A4
(enhanced from 30.00cr)
Shiv Gramoudyog Sansthan              Bk Fac             CARE B         -       Suspended
Shree Deosharwali Oil Industries      LT Bk Fac          CARE B+        140     Reaffirmed
Soltex Petroproducts Ltd              LT Bk Fac          CARE BB+       380     Reaffirmed
(enhanced from Rs.35 crore)
Tirupati Balaji Fibres Ltd            LT Bk Fac          CARE BBB-      105.7   Revised from
                                                                                CARE BB
Tirupati Balaji Fibres Ltd            LT/ST Bk Fac       CARE BBB-/ A3  18.5    Revised from
                                                                                CARE BB/A4
Weldwell Electrodes                   LT Bk Fac          CARE BBB       40      Assigned
--------------------------------------------------------------------------------------------
$: 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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