December 17, 2015 / 6:13 AM / 2 years ago

CARE ratings for Indian debt instruments-Dec 17

Dec 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 16, 2015.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                      (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
BLA Power Pvt Ltd                     ST Bk Fac          CARE A4        46      Assigned
Jai Mata Dee Construction             ST Bk Fac          CARE A4        120     Reaffirmed
(Enhanced from 8 Cr)
JSW Projects Ltd                      ST Bk Fac          CARE A1        500     Revised from
                                                                                CARE A2+
Kalpataru Power Transmission Ltd      CP Issue (carved   CARE A1+       1500    Reaffirmed
                                      out of working
                                      capital limits)
Kalpataru Power Transmission Ltd      CP Issue           CARE A1+       500     Reaffirmed
Magadh Micro Towers & Transmission PvtST Bk Fac          CARE A4        5       Reaffirmed
Ltd.
Marco Cables Pvt Ltd                  ST Bk Fac          CARE A4        20      Reaffirmed
Marco Cables Pvt Ltd                  ST Bk Fac          CARE A4        75      Reaffirmed
(enhanced from 3.70 Cr)
Mauli Metal Industries Pvt Ltd        ST Bk Fac          CARE A4+       20      Assigned
Roop Polymers Ltd                     ST Bk Fac          CARE A3+       238.2   Reaffirmed
Ruchi Malls Pvt Ltd                   ST Bk Fac *        -              -       Withdrawn
*CARE has withdrawn the rating assigned to the short-term non-fund based facilities of RMPL with
immediate effect, due to extinguishment of the said facility and there is no amount outstanding
under the facility as on date. 
Sarvesh Agencies Pvt Ltd              ST Bk Fac          CARE D         50      Revised from
                                                                                CARE A4
Shree Hari Spintex Ltd                ST Bk Fac          CARE A4        20      Reaffirmed
Subh Laxmi Syntex Ltd                 ST Bk Fac          CARE A4        6       Reaffirmed

LONG TERM RATINGS:
-------------------
Bharti Prints                         LT Bk Fac          CARE BB-       60      Assigned
Bhima Sahakari Sakhar Karkhana Ltd    Bk Fac             -              -       Suspended
BLA Power Pvt Ltd                     LT Bk Fac          CARE B         5719.3  Reaffirmed
(enhanced from 12.50 Cr)
Blue Star Infotech Ltd                Bk Fac             -              -       Withdrawn
Ezone Strips Pvt Ltd                  LT Bk Fac          CARE D         467.7   Revised from
                                                                                CARE BB
(enhanced from 39.26 Cr)
Ganeshgarhia Construction Company     LT/ ST Bk Fac      CARE BBB-/     360     Suspension
                                                         CARE A3                revoked and
                                                                                Reaffirmed
(Enhanced from Rs.21 crore)
Goel Roadways                         LT Bk Fac          CARE B         90      Assigned
Jai Kar Techno Pvt. Ltd.              Bk Fac             -              -       Suspended
Jai Mata Dee Construction             LT Bk Fac          CARE BB-       20      Reaffirmed
JSW Projects Ltd                      LT Bk Fac          CARE A         19605.5 Reaffirmed
(Reduced from Rs. 2093.48 crore)
Kalpataru Power Transmission Ltd      LT Bk Fac          CARE AA        9300    Reaffirmed
(enhanced from Rs.860.00 crore)
Kalpataru Power Transmission Ltd      NCD Issue - I*     CARE AA        266.7   Reaffirmed
* Outstanding as on September 30, 2015
Kalpataru Power Transmission Ltd      NCD Issue - IV     CARE AA        2000    Reaffirmed
                                      and V*
* Outstanding as on September 30, 2015
Kalpataru Power Transmission Ltd      LT/ ST Bk Fac      CARE AA/       58648.5 Reaffirmed
                                                         CARE A1+
(enhanced from Rs.5,065.00 crore)
Magadh Micro Towers & Transmission    LT Bk Fac          CARE B         75      Revised from
Pvt Ltd.                                                                        CARE C
Mahadev Building Systems Pvt Ltd      LT Bk Fac          CARE BB-       88      Assigned
Mahavir Rice And General Mills        LT Bk Fac          CARE B+        90      Assigned
Marco Cables Pvt Ltd                  LT Bk Fac          CARE BB        130     Reaffirmed
Marco Cables Pvt Ltd                  LT Bk Fac          CARE BB        41      Reaffirmed
Mauli Metal Industries Pvt Ltd        LT Bk Fac          CARE BB+       105.4   Assigned
MM TV Ltd                             LT Bk Fac          CARE A         180     Assigned
Modi Infrastructure Pvt Ltd           LT Bk Fac          CARE BB-       188.6   Reaffirmed
Narayan Cotgin Corporation            LT Bk Fac          CARE B+        90      Reaffirmed
P.G.Infrastructure & Services Pvt Ltd LT Bk Fac          CARE B+        97.8    Revised from
                                                                                CARE B
PGH International Pvt Ltd             LT Bk Fac          CARE B         887.4   Reaffirmed
Platinum Ispat Industries Pvt. Ltd    Bk Fac             -              -       Suspended
Reliance Yield Maximiser Aif- Scheme IAlternative        CARE AAA (AIF)         Assigned
                                      Investment Fund
                                      (AIF) schemes
Riverbank Developers Pvt Ltd          Corporate          CARE BBB       1350    Revised from
                                      Guarantee@                                CARE BBB-
@ extended to BBT Elevated Road Private Limited (BERPL), an SPV, for term loan of Rs.135 crore
for elevated road project. The guarantee is to be operated through a structured payment
mechanism for timely transfer of the required funds for payment of principal and interest (to
the extent of Rs.135.0 crore) to a designated account. 
Riverbank Developers Pvt Ltd          NCD (NCD)          CARE BBB       2000    Revised from
                                                                                CARE BBB-
Roop Polymers Ltd                     LT Bk Fac          CARE BBB       672.4   Reaffirmed
Ruchi Malls Pvt Ltd                   LT Bk Fac          CARE BBB       524.7   Revised from
                                                                                CARE BB+
Sarvajanik Jankalyan Parmarthik Nyas  LT Bk Fac          CARE B+        514     Revised from
                                                                                CARE B
Sarvesh Agencies Pvt Ltd              LT Bk Fac          CARE D         50      Revised from
                                                                                CARE B+
Shivangi Polysack Pvt Ltd             LT Bk Fac          CARE BB        109.4   Revised from
                                                                                CARE BB-
Shree Hari Spintex Ltd                LT Bk Fac          CARE BB-       204.4   Reaffirmed
(reduced from 21.89 Cr)
Shree Nakoda Industries Ltd           Bk facility        -              -       Withdrawn
Shree Tatyasaheb Kore Warana Sahakari LT Bk Fac          CARE BB        2890.6  Reaffirmed
Sakhar Karkhana Ltd
(enhanced from 12.11 Cr)
Shree Tatyasaheb Kore Warana Sahakari LT/ ST Bk Fac      CARE BB/       4100    Reaffirmed
Sakhar Karkhana Ltd                                      CARE A4
Subh Laxmi Syntex Ltd                 LT Bk Fac          CARE BB-       129     Reaffirmed
Subh Laxmi Syntex Ltd                 LT/ ST Bk Fac      CARE BB-/      130     Reaffirmed
                                                         CARE A4
Uttranchal Welfare Society            LT Bk Fac          CARE BB        430     Reaffirmed
Zenith Strips Ltd                     Bk Fac             -              -       Suspended
--------------------------------------------------------------------------------------------
$: 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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