December 8, 2014 / 5:47 AM / in 3 years

CARE ratings for Indian debt instruments-Dec 8

Dec 8 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 5, 2014.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
ABP Pvt Ltd                           ST Bk Fac          CARE A1        2400    Reaffirmed
ABP Pvt Ltd                           ST Debt (Including -              -       Withdrawn
                                      CP) 
Amanta Healthcare Ltd                 ST Bk Fac          CARE A3        135.5   Revised from
                                                                                CARE A4+
(enhanced from Rs.7.50 crore)
Anmol Spintex Pvt Ltd                 ST Bk Fac          CARE A3+ (SO)  23.2    Reaffirmed
                                                         #
# The ratings are backed by the first charge on the escrow of envisaged job work receipts from
Arvind Ltd. 
Ashok Auto Sales Ltd                  ST Bk Fac          CARE A3        150     Reaffirmed
Gallantt Metal Ltd                    ST Bk Fac          CARE A2+       1250    Reaffirmed
Indiabulls Real Estate Ltd            CP                 CARE A1+       7500    Reaffirmed
(enhanced from Rs.500 crore) 
Investment & Precision Castings Ltd   ST Bk Fac          CARE A4+       40      Reaffirmed
Kora Shoes Pvt Ltd                    ST Bk Fac          CARE A4        121.5   Reaffirmed
Madhya Pradesh Cupro Metals Pvt Ltd   ST Bk Fac          CARE A4        20      Revised from
                                                                                CARE A4+
Mahabal Metals Pvt. Ltd.              ST Bk Fac          CARE A3+       10      Revised from
                                                                                CARE A3
Mauria Udyog Ltd                      ST Bk Fac          CARE A3        2150    Assigned
Neosym Industries Ltd                 ST Bk Fac          CARE A3+       50      Reaffirmed
Nitin Spinners Ltd                    ST Bk Fac          CARE A2+       140     Revised from
                                                                                CARE A3+
Parenteral Surgicals Ltd              ST Bk Fac          CARE A4        27.5    Revised from
                                                                                CARE A4(SO)
Pix Transmission Ltd                  ST Bk Fac -FB      CARE A3        560     Revised from
                                                                                CARE A4
(enhanced from 55.00 CR)
Pix Transmission Ltd                  ST Bk Fac -NFB     CARE A3        228.9   Revised from
                                                                                CARE A4
(enhanced from 22.19 CR)
Rajhans Metals Pvt. Ltd               ST Bk Fac          CARE A4        130     Reaffirmed
Rajshree Polypack Pvt Ltd             ST Bk Fac          CARE A3        24      Reaffirmed
Rashtriya Metal Industries Ltd        ST Bk Fac          CARE A3        1157    Reaffirmed
Rawalwasia Textile Industries Pvt Ltd ST Bk Fac          CARE A4        50      Assigned
Savalia Cotton Ginning And Pressing PvST Bk Fac          CARE A4        65      Assigned
Ltd
Sks Microfinance Ltd                  Series A PTCs      CARE A1+ (SO)  500     Withdrawn
Sonec Sanitary Ware Pvt Ltd           ST Bk Fac          CARE A4        2.5     Reaffirmed
Tlt Engineering India Pvt Ltd         ST Bk Fac          CARE A3        40      Reaffirmed
Waaree Energies Ltd                   ST Bk Fac          CARE A3        900     Reaffirmed
Western Transformer & Equipment Pvt LtST Bk Fac          CARE A4        20      Reaffirmed


LONG TERM RATINGS:
-------------------
ABP Pvt Ltd                           LT Bk Fac          CARE A-        3514    Revised from
                                                                                CARE A
(reduced from 424.4 cr)
ABP Pvt Ltd                           LT/ST Bk Fac       CARE A-/       1120    Revised from
                                                         CARE A1 
                                                                                CARE A /
                                                                                Reaffirmed
Achal Spinning Pvt Ltd                LT Bk Fac          CARE BBB(SO)#  1210    Reaffirmed
# The rating is backed by the first charge on the escrow of envisaged job work receipts from
Arvind Ltd. (Arvind; rated: CARE A+ & CARE A1+) 
Amanta Healthcare Ltd                 LT Bk Fac          CARE BBB-      830.1   Revised from
                                                                                CARE BB+
(enhanced from Rs.58.59 crore)
Anmol Spintex Pvt Ltd                 LT Bk Fac          CARE BBB (SO)  1160    Reaffirmed
                                                         #
# The ratings are backed by the first charge on the escrow of envisaged job work receipts from
Arvind Ltd. 
Ashok Auto Sales Ltd                  LT Bk Fac          CARE BBB-      400     Reaffirmed
Axis Bank Ltd.                        Lower Tier II BondsCARE AAA       100000  Reaffirmed
Bengal Aerotropolis Projects Ltd      LT Bk Fac          CARE BBB       3572.1  Revised from
                                                                                CARE BBB-
(enhanced from 330.00 CR) 

City Union Bank Ltd                   Lower Tier II BondsCARE A+        400     Reaffirmed
Deccan Jewellers Pvt Ltd              LT Bk Fac          CARE BB        350     Reaffirmed
(reduced from 45 CR)
Deepika Infratech Pvt Ltd             LT Bk Fac          CARE D         1280    Revised from
                                                                                CARE B
Deepika Infratech Pvt Ltd             ST Bk Fac          CARE D         421.5   Revised from
                                                                                CARE A4
Deepika Infratech Pvt Ltd             LT/ST Bk Fac       CARE D /CARE D 750     Revised from
                                                                                CARE B / CARE
                                                                                A4
Dhanania Rubber Ltd                   LT Bk Fac          CARE BB        141.5   Revised from
                                                                                CARE BB-
Future Eco Crete Pvt Ltd              LT Bk Fac          CARE B         160     Assigned
Gallantt Metal Ltd                    LT Bk Fac          CARE BBB+      500     Reaffirmed
Hlf Direct Assignment Sep'11- Ii      HLF Direct         CARE AAA(SO)   1889.3  Withdrawn
                                      Assignment Sep'11-
                                      II
Investment & Precision Castings Ltd   LT Bk Fac          CARE BB+       330.5   Reaffirmed
J.C. Brothers Retail Pvt. Ltd.        LT Bk Fac          CARE BBB-      760     Assigned
Kora Shoes Pvt Ltd                    LT Bk Fac          CARE BB        78.8    Revised from
                                                                                CARE BB-
Lalchand Builders Pvt. Ltd.           LT Bk Facility     CARE B         133.6   Revised from
                                                                                CARE B+
Madhya Pradesh Cupro Metals Pvt Ltd   LT Bk Fac          CARE BB        81      Revised from
                                                                                CARE BB+
(reduced from Rs.9.32 crore)
Madhya Pradesh Cupro Metals Pvt Ltd   LT/ST Bk Fac       CARE BB /      45      Revised from
                                                         CARE A4                CARE BB+ /
                                                                                CARE A4+
Mahabal Metals Pvt. Ltd.              LT Bk Fac          CARE BBB       410.5   Revised from
                                                                                CARE BBB-
Mauria Udyog Ltd                      LT Bk Fac          CARE BBB-      300     Assigned
Neosym Industries Ltd                 LT Bk Fac-TL       CARE BBB+      600     Assigned
Neosym Industries Ltd                 LT Bk Fac          CARE BBB+      350     Reaffirmed
Nisan Electricals (India) Pvt Ltd     LT Bk Fac          CARE B+        106.3   Reaffirmed
Nitin Spinners Ltd                    LT Bk Fac          CARE BBB+      1621.7  Revised from
                                                                                CARE BBB
Nitin Spinners Ltd                    LT/ST Bk Fac       CARE BBB+      1000    Revised from
                                                         /CARE A2+              CARE BBB
                                                                                /CARE A3+
Parenteral Surgicals Ltd              LT Bk Fac          CARE B         52.4    Revised from
                                                                                CARE B+(SO)
Pix Transmission Ltd                  LT Bk Fac -TL      CARE BBB-      380.9   Revised from
                                                                                CARE BB
(reduced from 38.56 CR)
Pix Transmission Ltd                  LT Bk Fac -FB      CARE BBB-      200     Revised from
                                                                                CARE BB
Pooja Cotspin Ltd                     LT Bk Fac          CARE BBB-      167.3   Reaffirmed
(Reduced from 20.54 CR)
Pooja Cotspin Ltd                     LT/ST Bk Fac       CARE BBB-      8.2     Reaffirmed
                                                         /CARE A3
R. K. Marble Pvt. Ltd                 LT Bk Fac          CARE A+        1963.9  Reaffirmed
R. K. Marble Pvt. Ltd                 LT/ST Bk Fac       CARE A+ /      650     Reaffirmed
                                                         CARE A1+
Rajhans Metals Pvt. Ltd               LT Bk Fac          CARE B         285     Revised from
                                                                                CARE BB-
Rajshree Polypack Pvt Ltd             LT Bk Fac          CARE BBB       323     Reaffirmed
(reduced from 33.00 CR) 
Rashtriya Metal Industries Ltd        LT Bk Fac          CARE BBB-      251.9   Reaffirmed
Rashtriya Metal Industries Ltd        LT Bk Fac -        CARE BBB-      202.8   Assigned
                                      Proposed
Rashtriya Metal Industries Ltd        LT/ST Bk Fac       CARE BBB-      510     Reaffirmed
                                                         /CARE A3
Rawalwasia Textile Industries Pvt Ltd LT Bk Fac          CARE B+        50      Assigned
Rawalwasia Yarn Dyeing Pvt Ltd        LT Bk Fac          CARE B+        80      Assigned
Rawalwasia Yarn Dyeing Pvt Ltd        LT/ST Bk Fac       CARE B+ /      40      Assigned
                                                         CARE A4
Rewa Leisure Pvt Ltd                  LT Bk Fac          CARE BB        88.4    Assigned
Rewa Leisure Pvt Ltd                  LT/ST Bk Fac       CARE BB /      30      Assigned
                                                         CARE A4
Sadbhav Infrastructure Project Ltd    NCD @              CARE A+(SO)    1405.4  Reaffirmed
@Backed by unconditional and irrevocable corporate guarantee extended by Sadbhav Engineering
Limited (rated 'CARE A+/CARE A1+')
Sadbhav Infrastructure Project Ltd    LT Bk Fac @        CARE A+(SO)    1800    Reaffirmed
@Backed by unconditional and irrevocable corporate guarantee extended by Sadbhav Engineering
Limited (rated 'CARE A+/CARE A1+')
Sarvottam Atta Pvt. Ltd               LT Bk Fac          CARE BB        90      Assigned
Savalia Cotton Ginning And Pressing PvLT Bk Fac          CARE B+        446.3   Revised from
Ltd                                                                             CARE B
Singh Casuals Pvt Ltd                 LT Bk Fac          CARE BB        55      Reaffirmed
Sks Microfinance Ltd.                 Series A PTCs      CARE AA (SO)   1711.2  Withdrawn
Sonec Sanitary Ware Pvt Ltd           LT Bk Fac          CARE B         60.9    Reaffirmed
Tlt Engineering India Pvt Ltd         LT Bk Fac          CARE BBB-      94.5    Reaffirmed
Tlt Engineering India Pvt Ltd         LT/ST Bk Fac       CARE BBB-      350     Reaffirmed /
                                                         /CARE A3               Reclassified
Umiya Flexifoam Pvt Ltd               LT Bk Fac          CARE BB        5.2     Reaffirmed
Umiya Flexifoam Pvt Ltd               LT/ST Bk Fac       CARE A4+       180     Reaffirmed
Vaibhavlaxmi Spinning Mills Ltd       LT Bk Fac          CARE BB-       11      Assigned
Vks Gormi Udotgarh Corridor Pvt Ltd   LT Bk Fac          CARE BBB-(SO)  250     Revised from
                                                                                CARE BB+(SO)
Vks Gormi Udotgarh Corridor Pvt Ltd   LT/ST Bk Fac       CARE BBB-(SO)  17.6*   Revised from
                                                         /CARE A3(SO)           CARE A4+(SO)
*Reclassified from Short term Bank Facilities
Vks Seopur Baroda Corridor Pvt Ltd    LT Bk Fac          CARE BBB-(SO)  383.2   Revised from
                                                                                CARE BB+(SO)
Vks Seopur Baroda Corridor Pvt Ltd    LT/ST Bk Fac       CARE BBB-(SO)  30.2    Revised from
                                                         /CARE A3(SO)           CARE BB+(SO)
                                                                                / CARE A4+(SO)
Vnr Infrastructures Ltd               LT Bk Fac          CARE BBB+      3903.5  Reaffirmed
(enhanced from 340.35 CR)
Vnr Infrastructures Ltd               LT/ST Bk Fac       CARE BBB+      3450    Reaffirmed
                                                         /CARE A3+
(reduced from 395.00 CR)
Waaree Energies Ltd                   LT Bk Fac          CARE BBB-      1513.5  Reaffirmed
Western Transformer & Equipment Pvt   LT Bk Fac          CARE BB        20      Reaffirmed
Ltd
Western Transformer & Equipment Pvt   LT/ST Bk Fac       CARE BB /      50      Reaffirmed
Ltd                                                      CARE A4
--------------------------------------------------------------------------------------------
$: 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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