March 1, 2017 / 5:28 AM / 6 months ago

CARE ratings for Indian debt instruments-Mar 1

   Mar 1 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 28, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A.C. Brothers                         ST Bk Fac          CARE A3        67.7    Revised from
                                                                                CARE A4+
Aadhar Housing Finance Ltd.           CP (CP) issue      CARE A1+(SO)   2250    Reaffirmed
Aklavya Industries Pvt Ltd            ST Bk Fac          CARE A4        4.5     Reaffirmed

Alstrong Enterprises India Pvt Ltd    ST Bk Fac          CARE A3        500     Reaffirmed
Anand Impex                           ST Bk Fac          CARE A4        42.5    Reaffirmed
Armaan Industries Pvt Ltd             ST Bk Fac          CARE A4        1.8     Reaffirmed
Arti Silk Mills Pvt Ltd               ST Bk Fac          CARE A4        1       Reaffirmed
Cargo Motors (Rajasthan) Pvt Ltd      ST Bk Fac          CARE A3        100     Reaffirmed
Diamond Exports                       ST Bk Fac          CARE A3        250     Reaffirmed
Eco Tech Papers                       ST Bk Fac          CARE A3+       50      Revised from
                                                                                CARE A4+
Magnifico Minerals Pvt Ltd            ST Bk Fac          CARE A3+       4390    Revised from
                                                                                CARE A2+
Maple Logistics Pvt Ltd               ST Bk Fac          CARE A3+       130.7   Revised from
                                                                                CARE A2
Maple Odc Movers Pvt Ltd              ST Bk Fac          CARE A3+ (SO)  10      Revised from
                                                                                CARE A2 (SO)
Mrmc Foods Pvt Ltd                    ST Bk Fac          CARE A4        152     Assigned
Orient Press Ltd                      ST Bk Fac          CARE A3+       185     Reaffirmed
Precision Bearings Pvt Ltd            ST Bk Fac          CARE A4        270     Reaffirmed
Samarth Engineering Company Pvt. Ltd  ST Bk Fac          CARE A4        15      Reaffirmed
Shankar Soya Concepts                 ST Bk Fac          CARE A3        155     Revised from
                                                                                CARE A4+
Thirumalai Chemicals Ltd              ST Bk Fac – Non    CARE A3+       2736    Rating placed
                                      Fund Based                                on Notice of
                                                                                Withdrawal for
                                                                                90 days
Worlds Window Impex India Pvt Ltd     ST Bk Fac          CARE A3+       7010    Revised from
                                                                                CARE A2+

MEDIUM TERM RATINGS:
-------------------
Orient Press Ltd                      Medium-term Fixed  CARE BBB (FD)  80      Reaffirmed
                                      Deposits
LONG TERM RATINGS:
-------------------
A.C. Brothers                         LT Bk Fac          CARE BBB-      7.3     Assigned
Aadhar Housing Finance Ltd.           NCD                CARE AA+(SO)   8000    Reaffirmed
Aadhar Housing Finance Ltd.           Subordinated Debt  CARE AA+(SO)   1500    Reaffirmed
Aadhar Housing Finance Ltd.           LT Bk Fac          CARE AA+(SO)   12278.7 Reaffirmed
Aastha Fashions Pvt Ltd               LT Bk Fac          CARE BB-       78.3    Reaffirmed
Agarwal Associates Promoters Ltd      LT Bk Fac                                 Withdrawn
Airtravel Enterprises India Ltd.      LT Bk Fac          CARE BB        600     Reaffirmed
Airtravel Enterprises India Ltd.      LT/ST Bk Fac       CARE BB/CARE A480      Reaffirmed
Aklavya Industries Pvt Ltd            LT Bk Fac          CARE BB-       81.7    Reaffirmed
Alliance Insurance Brokers Pvt Ltd    LT Bk Fac          CARE BBB-      90      Reaffirmed
Alstrong Enterprises India Pvt Ltd    LT Bk Fac          CARE BBB-      750     Reaffirmed
Anand Impex                           LT Bk Fac          CARE BB-       17.5    Revised from
                                                                                CARE B+
Apollo Polyvinyl Pvt Ltd              LT Bk Fac          CARE BB-       470     Reaffirmed
Armaan Industries Pvt Ltd             LT Bk Fac          CARE BB-       97.7    Reaffirmed
Arti Silk Mills Pvt Ltd               LT Bk Fac          CARE BB        261     Reaffirmed
Business Broadcast News Holding Ltd   NCD                CARE AAA(SO)   2500*   Assigned
*backed by unconditional and irrevocable corporate guarantee by Reliance Capital 
Limited rating (rated CARE AAA/ CARE AA+ under credit watch with developing implications)
Combine Diamonds Pvt Ltd              LT Bk Fac          CARE B+        480     Assigned
Combine Diamonds Pvt Ltd              Proposed LT Bk Fac CARE B+        70      Assigned
Diamond Exports                       LT Bk Fac          CARE AAA (SO)  135     Reaffirmed
Diamond Exports                       LT Bk Fac          CARE BBB-      10      Reaffirmed
Eco Tech Papers                       LT Bk Fac          CARE BBB       211.6   Revised from
                                                                                CARE BB+
Gmmco Ltd                             Proposed NCD       CARE AA        1750    Assigned
Greater Warangal Municipal Council    Issuer Rating      CARE A                 Reaffirmed
Indo Brine Industries Ltd             LT Bk Fac          CARE B+        150     Revised from
                                                                                CARE BB
Jagat Agrotech Pvt Ltd                LT Bk Fac          CARE BB-       235.9   Assigned
Jakson Power Pvt Ltd                  LT Bk Fac          CARE A+ (SO)   526.8   Reaffirmed
Karnataka State Financial Corporation Issuer Rating      CARE BBB-              Assigned
Magnifico Minerals Pvt Ltd            LT Bk Fac          CARE BBB       390     Revised from
                                                                                CARE A-
Maple Logistics Pvt Ltd               LT Bk Fac          CARE BBB       852.5   Revised from
                                                                                CARE BBB+
Maple Odc Movers Pvt Ltd              LT Bk Fac          CARE BBB (SO)  60      Revised from
                                                                                CARE BBB+ (SO)
Maple Odc Movers Pvt Ltd              LT Bk Fac          Provisional    50      Revised from
                                                         CARE BBB (SO)          CARE BBB+ (SO)
Mrmc Foods Pvt Ltd                    LT Bk Fac          CARE B+        463.8   Assigned
Orient Press Ltd                      LT Bk Fac          CARE BBB       371.5   Reaffirmed
Orient Press Ltd                      LT/ST Bk Fac       CARE BBB/A3+   100     Reaffirmed
Precision Bearings Pvt Ltd            LT /ST Bk Fac      CARE BB/CARE A450      Reaffirmed
Rajesh Machine Tools Pvt Ltd          LT Bk Fac          CARE BB-       44.9    Assigned
Rajesh Machine Tools Pvt Ltd          LT/ST Bk Fac       CARE BB- /CARE 30      Assigned
                                                         A4
S.R.K. Chemicals Ltd                  Long/ST Bk Fac     CARE BB /CARE  150     Reaffirmed
                                                         A4
Samarth Engineering Company Pvt. Ltd  LT Bk Fac          CARE BB-       40.9    Reaffirmed
Sanjvik Terminals Pvt Ltd             LT Bk Fac          CARE A-(SO)    321.9   Reaffirmed
Sanjvik Terminals Pvt Ltd             Long/ST Bk Fac     Provisional    48.1    Reaffirmed
                                                         CARE A-(SO)
Sanvira Industries Ltd                LT Bk Fac          CARE BBB-      2730    Reaffirmed
Sarvoday Sat Isabgol Factory          LT Bk Fac          CARE BB-       16.4    Reaffirmed
Sarvoday Sat Isabgol Factory          LT/ST Bk Fac       CARE BB-/CARE  200     Reaffirmed
                                                         A4
Shankar Soya Concepts                 LT Bk Fac          CARE BBB-      74.6    Revised from
                                                                                CARE BB+
Sumit Gems                            LT Bk Fac          CARE BB        80      Reaffirmed
Sun Corporation                       LT Bk Fac          CARE BB-       120     Assigned
Tara Jewels Ltd                       LT / ST (Fund      CARE D         4860    Issuer not
                                      Based)                                    cooperating;
                                                                                Revised from 
                                                                                CARE BB/CARE A4
Tara Jewels Ltd                       LT / ST (Non Fund  CARE D         2570    Issuer not
                                      Based)                                    cooperating;
                                                                                Revised from
                                                                                CARE BB/CARE A4
Thirumalai Chemicals Ltd              LT Bk Fac – Fund   CARE BBB       1323    Rating placed
                                      Based                                     on Notice of
                                                                                Withdrawal 
                                                                                for 90 days
Thirumalai Chemicals Ltd              LT Bk Fac – TL                    120     Withdrawn
Vikram Roller Flour Mills Ltd         LT/ST Bk Fac       CARE BB-/CARE  475     Reaffirmed
                                                         A4
Worlds Window Impex India Pvt Ltd     LT Bk Fac          CARE BBB       1990    Revised from
                                                                                CARE A-
Worlds Window Infrastructure And      Long/ST Bk Fac     CARE A-/CARE   155     Reaffirmed
Logistics Pvt Ltd                                        A2+
Worlds Window Infrastructure And      LT Bk Fac          CARE A-        683.6   Reaffirmed
Logistics Pvt Ltd
--------------------------------------------------------------------------------------------
$: 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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