November 16, 2015 / 5:13 AM / 2 years ago

CARE ratings for Indian debt instruments-Nov 16

Nov 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 13, 2015.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Amrit Fresh Pvt Ltd                   ST Bk Fac          CARE D         10      Revised from
                                                                                CARE A4
Ace Tyres Ltd                         ST Bk Fac          CARE A2+       66.3    Revised from
                                                                                CARE A2
Abhay Cotex Pvt Ltd                   Bk Fac             -              -       Suspended
Ace Tyres Ltd                         LT Bk Fac- TL      -              -       Withdrawn
                                      & Standby Line
                                      Of Credit
Grand Auto Udyog Pvt. Ltd             ST Bk Fac          CARE A4        7       Reaffirmed
Kairali Granites                      ST Bk Fac          CARE A4        11.5    Reaffirmed

LONG TERM RATINGS:
-------------------
Ace Tyres Ltd                         LT Bk Fac-CC       CARE A         100     Revised from
                                                                                CARE A-
Akshaya Signature Homes Pvt Ltd       NCD                CARE C         800     Assigned
                                      Issue (Proposed)
Amrit Fresh Pvt Ltd                   LT Bk Fac          CARE D         161.6   Revised from
                                                                                CARE BB
(reduced from 19.00 CR)
Cosmopolitan Hospitals Pvt Ltd        LT Bk Fac          CARE BBB       80      Reaffirmed
Geeta Refinery Pvt Ltd                Bk Fac             -              -       Suspended
Gmr Energy Ltd                        NCD                CARE BBB-(SO)  7740    Revised from
                                                                                CARE BBB (SO)
Grand Auto Udyog Pvt. Ltd             LT Bk Fac          CARE B+        170     Reaffirmed
Indiabulls Estate Ltd                 LT Bk Fac          CARE AA-(SO)   170     Assigned
                                      -Non-fund based @
@ backed by unconditional irrevocable guarantee from Indiabulls Real Estate Ltd (IBREL, rated
CARE AA-/ CARE A1+)
Kairali Granites                      LT Bk Fac          CARE B+        83.9    Reaffirmed
[Reduced from Rs.8.58 crore]
Laxmi Cotspin Ltd                     Bk Fac             -              -       Suspended
Nsp Bvsr Kp Road Projects Pvt Ltd     LT Bk Fac          CARE BBB+      190     Revised from
                                                                                CARE BBB-
(reduced from 32.90 CR)
Nsp Variegate Pp Road Projects Pvt LtdLT Bk Fac          CARE BBB+      66.5    Revised from
                                                                                CARE BBB-
(reduced from 11.08 CR)
Nsp Variegate Rg Road Projects Pvt LtdLT Bk Fac          CARE BBB+      44.5    Revised from
                                                                                CARE BBB-
(reduced from 7.42 CR)
Nspr Constructions India Pvt Ltd      LT Bk Fac          CARE BBB-      85      Reaffirmed
(Enhanced from 6 cr)
Nspr Constructions India Pvt Ltd      LT/ST Bk Fac       CARE BBB-      415     Reaffirmed
                                                         /CARE A3
(Enhanced from 14 cr)
Sambaragi Traders                     Bk Fac             -              -       Suspended
Selene Estate Ltd                     LT Bk Fac @        CARE AA-(SO)   1580    Revised from
                                                                                CARE A+(SO)
[Enhanced from Rs.150 crore] backed by unconditional irrevocable guarantee from Indiabulls Real
Estate Ltd (IBREL, rated CARE AA-/ CARE A1+)

Subhash Kabini Power Corporation Ltd  LT Bk Fac          CARE BB        637     Reaffirmed
[Reduced from Rs.68.13 crore]
The Catholic Syrian Bank Ltd          Lower Tier II      -              -       Withdrawn
                                      Bonds (Series I)
The Catholic Syrian Bank Ltd          Lower Tier II      CARE BBB-      418     Revised from
                                      Bonds (Series III)                        CARE BBB
Yashoda Krishna Automobiles Pvt Ltd   LT Bk Fac - TL     -              -       Withdrawn
Yashoda Krishna Automobiles Pvt Ltd   LT Bk Fac - CC     CARE BB-       120     Reaffirmed
(Reduced from 17 CR)
--------------------------------------------------------------------------------------------
$: 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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