Reuters logo
CARE ratings for Indian debt instruments-Mar 2
March 2, 2017 / 5:37 AM / 7 months ago

CARE ratings for Indian debt instruments-Mar 2

    Mar 2 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 1, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ankit India                           ST Bk Fac          CARE A3+       350     Reaffirmed
(enhanced from 25 CR)
Asm Spuntex                           ST Bk Fac          CARE A4        6.8     Assigned
Best It World (India) Pvt Ltd         ST Bk Fac          CARE A4+       1700    Revised from
                                                                                CARE A3+
Bhoruka Power Corporation Ltd         ST Bk Fac          CARE A3+       450     Reaffirmed
Gasgen Ferro Alloys Llp               ST Bk Fac          CARE A4+       1.5     Reaffirmed
Hastkala                              ST Bk Fac          CARE A4        8.3     Assigned
Haveli Marble Pvt Ltd                 ST Bk Fac          CARE A3        12.5    Reaffirmed
Indra Marshal Power Pvt Ltd           ST Bk Fac          CARE A4        70      Reaffirmed
K.K.Sorathia                          ST Bk Fac          CARE A4+       100     Assigned
Khosla Profil Pvt Ltd                 ST Bk Fac          CARE A3        450     Reaffirmed
Miraj Pipes And Fittings Pvt Ltd      ST Bk Fac          CARE A4+       150     Revised from
                                                                                CARE A4
(enhanced from Rs.1 crore)
Nalanda Engicon Pvt. Ltd              ST Bk Fac          CARE A4        70      Assigned
P.P. Rolling Mills Manufacturing      ST Bk Fac          CARE A4+       100     Reaffirmed
Company Pvt Ltd
Raghuvir Oil Mill                     ST Bk Fac          CARE A4        89.5    Issuer Not
                                                                                Cooperating
Ranchhod Oil Mill Company             ST Bk Fac          CARE A4        4       Issuer Not
                                                                                Cooperating
Raymond Apparel Ltd                   ST Bk Fac          CARE A1+       500     Reaffirmed
Raymond Apparel Ltd                   Proposed CP        CARE A1+       500*    Reaffirmed
Span Pumps Pvt Ltd                    ST Bk Fac          CARE A3        450     Assigned
Sophisticated Industrial Materials    ST Bk Fac          CARE BB+ /CARE 120     Reaffirmed
Analytic Labs Pvt Ltd                                    A4+
Supreme Paper Mills Ltd.              ST Bk Fac          CARE A4        60      Reaffirmed
Vishnu Barium Pvt Ltd [Erstwhile SolvaST Bk Fac          CARE A4        20      Assigned
Vishnu Barium Pvt Ltd]

LONG TERM RATINGS:
-------------------
Age Old Spirit                        LT Bk Fac          CARE B+        90      Reaffirmed
Asm Spuntex                           LT Bk Fac          CARE B+        123.2   Assigned
Baid Leasing And Finance Co. Ltd.     LT Bk Fac          CARE BBB-      450     Assigned
Best It World (India) Pvt Ltd         LT Bk Fac          CARE BB+       800     Revised from
                                                                                CARE BBB-
Bhoruka Power Corporation Ltd         LT Bk Fac          CARE BBB       9128.2  Reaffirmed
(enhanced from 852.82 CR)
Bhoruka Power Corporation Ltd         Medium-term        CARE BBB       100     Reaffirmed
                                      instruments
Can Fin Homes Ltd                     Secured Redeemable CARE AAA       2500    Reaffirmed
                                      NonConvertible
                                      Debenture
Can Fin Homes Ltd                     Secured Redeemable CARE AAA       22400   Reaffirmed
                                      NonConvertible
                                      Debenture
Can Fin Homes Ltd                     Secured Redeemable CARE AAA       25000   Reaffirmed
                                      NonConvertible
                                      Debenture
Can Fin Homes Ltd                     Tier II Bonds      CARE AAA       3000    Reaffirmed
                                      (Subordinated Bond)
Crescent Auto Repairs And Services    LT Bk Fac          CARE BB        85      Reaffirmed
India Pvt Ltd.
Crescent Auto Repairs And Services    LT/ST Bk Fac       CARE BB /CARE  255     Reaffirmed
India Pvt Ltd.                                           A4+
Eco Tech Papers                       Issuer Rating      -              -       WIThdrawn
Gasgen Ferro Alloys Llp               LT Bk Fac          CARE BB+       62.9    Reaffirmed
(reduced from Rs.9.19 crore)
Harmony Ply-Lam Ltd                   LT Bk Fac          CARE B+        147.5   Assigned
Hastkala                              LT/ST Bk Fac       CARE BB- /CARE 70      Assigned
                                                         A4
Haveli Marble Pvt Ltd                 LT Bk Fac          CARE BBB-      402.8   Reaffirmed
Idf Financial Services Pvt Ltd        LT Bk Fac          CARE BB+       313.2   Reaffirmed
Indra Marshal Power Pvt Ltd           LT Bk Fac          CARE B-        50      Revised from
                                                                                CARE B
K.K.Sorathia                          LT Bk Fac          CARE BB+       10      Assigned
Khosla Profil Pvt Ltd                 LT Bk Fac          CARE BBB-      273.9   Reaffirmed
Krishnasai Educational Society        LT Bk Fac          CARE BB+       126.3   Reaffirmed
Latala Construction Company           LT Bk Fac          CARE BB        60      Reaffirmed
Latala Construction Company           LT/ST Bk Fac       CARE BB /CARE  150     Reaffirmed
                                                         A4
Lvj Projects Pvt Ltd                  LT Bk Fac          CARE BB        15      Reaffirmed
Lvj Projects Pvt Ltd                  LT/ST Bk Fac       CARE BB        60      Reaffirmed
Miraj Pipes And Fittings Pvt Ltd      LT Bk Fac          CARE BB+       278.6   Revised from
                                                                                CARE BB
(enhanced from Rs.18 crore)
Nalanda Engicon Pvt. Ltd              LT Bk Fac          CARE BB-       30      Assigned
Newtonia Cv Ifmr Capital 2017         Series A1 PTC      CARE A- (SO)   173.3   Assigned
(Originator: Ikf Finance Ltd)
Newtonia Cv Ifmr Capital 2017         Series A2 PTC      CARE BBB+ (SO) 18.3    Assigned
(Originator: Ikf Finance Ltd)
Nvr Infrastructure & Services Pvt Ltd LT Bk Fac          CARE A-        592.6   Reaffirmed
(reduced from 64.85 CR)
P.P. Rolling Mills Manufacturing      LT Bk Fac          CARE BB+       104.7   Reaffirmed
Company Pvt Ltd
P.P. Rolling Mills Manufacturing      LT/ST Bk Fac       CARE BB+ /CARE 250     Reaffirmed
Company Pvt Ltd                                          A4+
Pittappillil Agencies                 LT Bk Fac          CARE BB-       120     Reaffirmed
Pradeep Fibres Pvt Ltd                LT Bk Fac          CARE BB-       92.5    Reaffirmed
(enhanced from 7.00 CR)
Prozone Developers & Realtors Pvt. LtdProposed NCD issue CARE B+        340     Assigned
Raghuvir Oil Mill                     LT Bk Fac          CARE BB-       10      Issuer Not
                                                                                Cooperating
Ranchhod Oil Mill Company             LT Bk Fac          CARE B-        95      Issuer Not
                                                                                Cooperating
Ratna Cottex                          LT Bk Fac          CARE B+        59.9    Revised from
                                                                                CARE B
(reduced from 6.25 CR)
Raymond Apparel Ltd                   LT Bk Fac          CARE A+        1500    Reaffirmed
Sophisticated Industrial Materials    LT Bk Fac          CARE BB+       74.4    Reaffirmed
Analytic Labs Pvt Ltd
(enhanced from 3.02 CR)
 (enhanced from 8.50 CR)
Span Pumps Pvt Ltd                    LT Bk Fac          CARE BBB-      200     Assigned
Supreme Paper Mills Ltd.              LT Bk Fac          CARE BB        75      Reaffirmed
Tarsons Products Pvt Ltd              LT Bk Fac          CARE BBB+      887.1   Reaffirmed
(enhanced from 67.51 CR)
Teach For India Education & Research  LT Bk Fac          CARE BBB-      50.2    Suspension
Samiti                                                                          revoked and
                                                                                Rating
Reaffirmed
(reduced from 5.99 CR)
Transnational Knowledge Society       LT Bk Fac          CARE BB        66      Reaffirmed
(enhanced from 6.02 CR)
Triton International Pvt Ltd          LT Bk Fac          CARE BBB       450     Reaffirmed
Vishnu Barium Pvt Ltd [Erstwhile SolvaLT Bk Fac          CARE B+        242.7   Reaffirmed
Vishnu Barium Pvt Ltd]
(enhanced from 16.27 CR)
Wadhawan Global Capital Pvt. Ltd.     NCD                CARE AA-       5000    Reaffirmed
(enhanced from 300 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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below