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CARE ratings for Indian debt instruments-Jul 6
July 6, 2015 / 5:07 AM / 2 years ago

CARE ratings for Indian debt instruments-Jul 6

Jul 6 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 3, 2015.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                      (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ajanta Pharma Ltd                     ST Bk Fac          CARE A1+       350     Reaffirmed
Rotomac Exim Pvt Ltd                  ST Bk Fac          CARE A4        500     Assigned
Srikalahasthi Pipes Ltd               ST Bk Fac          CARE A1+       3200    Revised from
                                                                                CARE A1
Srikalahasthi Pipes Ltd               CP*                CARE A1+       750     Revised from
                                                                                CARE A1
*carved out of the sanctioned working capital limits of the company

LONG TERM RATINGS:
-------------------
Ajanta Pharma Ltd                     LT-TL              CARE AA        421.8   Revised from
                                                                                CARE AA-
Ajanta Pharma Ltd                     LT/ST Bk Fac       CARE AA/       750     Revised from
                                                         CARE A1+               CARE AA-
                                                                                /Reaffirmed
Azure Power India Pvt Ltd             LT Bk Fac          CARE BBB       1601    Reaffirmed
(enhanced from 150 Cr)
Azure Power India Pvt Ltd             LT/ST Bk Fac       CARE BBB/      5250    Reaffirmed
                                                         CARE A3+
DBL Jaora Sailana Tollways Ltd.       LT Bk Fac          CARE A-        1210    Assigned
DBL Sitamau Suwasara Tollways Ltd.    LT Bk Fac          CARE A-        480     Assigned
DBL Uchera Nagod Tollways Ltd.        LT Bk Fac          CARE A-        915     Assigned
Divya Simandhar Construction Pvt Ltd  LT Bk Fac          CARE BBB-      150     Suspension
                                                                                Revoked and
                                                                                Reaffirmed
(increased from 13 Cr)
Divya Simandhar Construction Pvt Ltd  LT/ST Bk Fac       CARE BBB-      337.5   Suspension
                                                         /CARE A3               Revoked and
                                                                                Reaffirmed
(increased from 26.25 Cr)
Hinduja Leyland Finance Ltd           Proposed NCD Issue CARE A+        5000    Assigned
Hinduja Leyland Finance Ltd           Proposed NCD Issue CARE A+        2000    Assigned
Maxima Traders Bhopal Pvt Ltd         LT Bk Fac          CARE BBB-      250     Assigned
Metro Agro Mills                      LT Bk Fac          CARE B+        60      Assigned
Million Traders Bhopal Pvt Ltd        LT Bk Fac          CARE BBB-      160     Assigned
Million Traders Bhopal Pvt Ltd        LT/ST Bk Fac       CARE BBB-/     40      Assigned
                                                         CARE A3
Rice Tech Agro Mills                  LT Bk Fac          CARE B+        60      Assigned
Santosh Pulse Mill                    LT Bk Fac          CARE B+        60      Assigned
Sanvira Industries Ltd                LT Bk Fac          CARE BBB-      1980    Assigned
Srikalahasthi Pipes Ltd               LT Bk Fac          CARE A+        5008.4  Revised from
                                                                                CARE A
Stella Udyog                          LT/ST Bk Fac       CARE B+/       70      Assigned
                                                         CARE A4
Vanshika Construction                 LT Bk Fac          CARE BBB-      50      Assigned
Vanshika Construction                 LT/ST Bk Fac       CARE BBB-/     90      Assigned
                                                         CARE A3
--------------------------------------------------------------------------------------------
$: 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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