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CARE ratings for Indian debt instruments-Mar 8
March 8, 2017 / 6:29 AM / 7 months ago

CARE ratings for Indian debt instruments-Mar 8

    Mar 8 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 7, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agio Pharmaceuticals Ltd              ST Bk Fac          CARE A4        92.5    Suspension
                                      (Non-fund Based)                          revoked &
                                                                                reaffirmed
(enhanced from 7.25 crores)
Alang Ship Breaking Corporation       ST Bk Fac          CARE A4+       350     Reaffirmed
Cheran Weaves India Pvt Ltd           ST Bk Fac          CARE A4        2.8     Reaffirmed
Grahati Solar Energy Pvt Ltd          ST Bk Fac          CARE A2        245.7   Assigned
Gujarat Cooperative Milk Marketing    Proposed CP (CP)   CARE A1+       5000    Assigned
Federation Ltd                        issue
Harsh Polyfabric Pvt. Ltd.            ST Bk Fac          CARE A4        4       Reaffirmed
Hollis Vitrified Pvt Ltd              ST Bk Fac          CARE A4        27.5    Reaffirmed
Integrated Fire Protection Pvt Ltd    ST Bk Fac          CARE A4+       54.5    Reaffirmed
(enhanced from 3.09crs)
K.K.R Agro Mills Pvt Ltd              ST Bk Fac          CARE A4        11.7    Reaffirmed
K.K.R Mills                           ST Bk Fac          CARE A4        40      Reaffirmed
Kirby Building Systems India          ST Bk Fac          CARE A1        2701.5  Issuer not
(Uttaranchal) Pvt Ltd                                                           cooperating
Kirby Building Systems India Pvt Ltd  ST Bk Fac          CARE A1        2745    Issuer not
                                                                                cooperating
Lincon Polymers Pvt Ltd               ST Bk Fac          CARE A4+       5       Issuer not
                                                                                cooperating
Lokesh Machines Ltd                   ST Bk Fac          CARE D         270     Issuer not
                                                                                cooperating
Mortex (India)                        ST Bk Fac          CARE A3        1575    Reaffirmed
(enhanced from 132.50crs)
Neosym Industry Ltd                   ST Bk Fac          CARE A3+       140     Reaffirmed
P. Patel Ship Breaking Company        ST Bk Fac          CARE A4+       724.2   Reaffirmed
Panchmahal Steel Ltd                  ST Bk Fac          CARE A4+       920     Reaffirmed
Pradeep Industrial Packers Pvt Ltd    ST Bk Fac          CARE A4        110.5   Reaffirmed
Ramani Timber Mart                    ST Bk Fac          CARE A4        45      Reaffirmed
Rashmi Cement Ltd                     ST Bk Fac          CARE A2        800     Reaffirmed
Rathod Jewellery Manufacturing Pvt LtdST Bk Fac          CARE A4+       270     Issuer not
                                                                                cooperating
S.N. Rice Mills                       ST Bk Fac          CARE A4        40      Reaffirmed
Sns Starch Ltd                        ST Bk Fac          CARE D         95      Issuer not
                                                                                cooperating/
                                                                                Revised
                                                                                from CARE A4
Sharp Chucks And Machines Pvt Ltd     ST Bk Fac          CARE A4        10      Reaffirmed
Shiv Puja Constructions Pvt Ltd       ST Bk Fac          CARE A3+       50      Revised from
                                                                                CARE A3
Shivratna Construction And EarthmoversST Bk Fac          CARE A4        15      Assigned
Sridhar Engineering And Rubber ProductST Bk Fac          CARE A4        22.5    Issuer not
Pvt Ltd                                                                         cooperating
Suncity Strips And Tubes Pvt Ltd      ST Bk Fac          CARE A3+       450     Reaffirmed
(enhanced from Rs.40 crore)
Tirupati Iron Impex Pvt Ltd           LOC                CARE A4+       210     Issuer not
                                                                                cooperating
Tirupati Iron Impex Pvt Ltd           BG                 CARE A4+       20      Issuer not
                                                                                cooperating
United Infraventures Ltd              ST Bk Fac          CARE D         10      Issuer not
                                                                                cooperating
Vinod Kumar Pandey                    ST Bk Fac          CARE A4        40      Issuer not
                                                                                Cooperating

LONG TERM RATINGS:
-------------------
Agio Pharmaceuticals Ltd              LT Bk Fac (TL)     CARE BB        35      Suspension
                                                                                revoked &
                                                                                reaffirmed
(reduced from 4.47 crores)
Agio Pharmaceuticals Ltd              Long/ST Bk Fac (FB)CARE BB        660     Suspension
                                                                                revoked &
                                                                                reaffirmed
(enhanced from Rs. 62.00 crores)
Alang Ship Breaking Corporation       LT Bk Fac          CARE BB        40      Reaffirmed
Anupam Industries                     LT Bk Fac          CARE D         16.8    Issuer not
                                                                                cooperating
Anupam Industries                     LT/ST Bk Fac       CARE D         49.5    Issuer not
                                                                                cooperating
Arkay Energy (Rameshwaram) Ltd        LT Bk Fac – FB     CARE D         2622.2  Revised from
                                                                                CARE BB-
Arkay Energy (Rameshwaram) Ltd        LT Bk Fac – Non-FB CARE D         550     Revised from
                                                                                CARE A4
Arunoday Sales                        LT Bk Fac          CARE BB-       130     Issuer not
                                                                                cooperating
Ashutosh Chawal Udyog                 LT Bk Fac          CARE B+        80      Reaffirmed
Babu & Company                        LT Bk Fac          CARE BB        112.2   Reaffirmed
Bhaskar Silk Mills Pvt Ltd            LT Bk Fac          CARE BB        113.3   Assigned
Cheran Weaves India Pvt Ltd           LT Bk Fac          CARE BB        93.3    Reaffirmed
Clear Water Ltd                       LT Bk Fac          CARE BB        15      Reaffirmed
Clear Water Ltd                       LT/ST Bk Fac       CARE BB /CARE  75      Reaffirmed
                                                         A4
Dharmadev Infrastructure Ltd          LT Bk Fac          CARE D         1022.4  Issuer not
                                                                                cooperating
Dhfl Vysya Housing Finance Ltd        LT Bk Fac          CARE AA+ (SO)  3550    Assigned
Ganesham Electrotech Supermarket Pvt  LT Bk Fac          CARE BB        140     Reaffirmed
Ltd    
Giriraj Builders                      LT Bk Fac          -              -       Withdrawn
Golden Triangle Fort And Palace Pvt   LT Bk Fac          CARE BB        98.6    Reaffirmed
Ltd    
Grahati Solar Energy Pvt Ltd          LT Bk Fac #        CARE BBB+ (SO) 3710    Assigned
# backed by unconditional & irrevocable co-obligor undertakings provided by Mihit Solar Power
Private Limited and Dayakara Solar Power Private Limited
Harbir Automobile Pvt Ltd             LT Bk Fac          CARE B         110     Assigned
Harsh Polyfabric Pvt. Ltd.            LT Bk Fac          CARE BB        110     Reaffirmed
Hollis Vitrified Pvt Ltd              LT Bk Fac          CARE BB        109.9   Reaffirmed
Iifl Cv Trust December 2013 I         Series A PTCs      -              -       Withdrawn
[Originator: India Infoline Finance Ltd
(Iifl)
Ind – Barath Power (Madras) Ltd       LT Bk Fac          CARE D         26550   Revised from
                                                                                CARE BB-
Integrated Fire Protection Pvt Ltd    LT Bk Fac          CARE BB+       32.6    Reaffirmed
(enhanced from 2.76crs)
Juhi Alloys Ltd                       LT Bk Fac          CARE B+        200     Reaffirmed
K.K.R Agro Mills Pvt Ltd              Long/ST Bk Fac     CARE BB /CARE  330     Reaffirmed
                                                         A4
K.K.R Flour Mills                     LT Bk Fac          CARE BB        150     Reaffirmed
(enhanced from 10.5crs)
K.K.R Food Products                   LT Bk Fac          CARE BB        300     Reaffirmed
(enhanced from 16.5crs)
K.K.R Mills                           LT Bk Fac          CARE BB        150     Reaffirmed
Karthika Modern Rice Mills            LT Bk Fac          CARE BB        110     Reaffirmed
Kayan Agro Industries And Company Pvt LT Bk Fac          CARE BB-       57.4    Assigned
Ltd
Khivraj Vahan Pvt Ltd                 LT Bk Fac          CARE BBB+      265     Reaffirmed
Kirby Building Systems India          LT Bk Fac          CARE A         167.5   Issuer not
(Uttaranchal) Pvt Ltd                                                           cooperating
Kirby Building Systems India Pvt Ltd  LT Bk Fac          CARE A         300     Issuer not
                                                                                cooperating
L M Cotex Pvt Ltd                     LT Bk Fac          CARE B+        121.2   Reaffirmed
(Reduced from 12.74crs)
Lincon Polymers Pvt Ltd               LT Bk Fac          CARE BB+       6.8     Issuer not
                                                                                cooperating
Lincon Polymers Pvt Ltd               LT/ ST Bk Fac      CARE BB+ /CARE 180     Issuer not
                                                         A4+                    cooperating
Lokesh Machines Ltd                   LT Bk Fac          CARE D         931.4   Issuer not
                                                                                cooperating
Meenaxi Exports                       LT Bk Fac/ ST Bk   CARE B+ /CARE  90      Assigned
                                      Fac                A4
Microplast Polytex Industries Pvt Ltd LT Bk Fac          CARE BB-       123.2   Revised to
                                                                                CARE D
Miraj Metals                          LT Bk Fac – CC     CARE D         80      Issuer not
                                                                                cooperating
Miraj Metals                          LT/ST Bk Fac       CARE D         420     Issuer not
                                                                                cooperating
Miraj Recyclers Pvt Ltd               LT Bk Fac (Fund    CARE D         30      Issuer not
                                      Based)                                    cooperating
Miraj Recyclers Pvt Ltd               LT/ST Bk Fac       CARE D         120     Issuer not
                                      (Non-fud Based)                           cooperating
Mithila Cars Pvt Ltd                  LT Bk Fac (CC)     CARE BB+       300     Issuer not
                                                                                cooperating
Mortex (India)                        Long/ST Bk Fac     CARE BBB-      175     Reaffirmed
                                                         /CARE A3
Mumbai Sez Ltd                        LT Bk Fac          -              -       Withdrawn
Neosym Industry Ltd                   LT Bk Fac          CARE BBB+      1350    Reaffirmed
(enhanced from 110.00crs)
Nspr Kp Road Projects Pvt Ltd         LT Bk Fac          CARE BBB+      434     Reaffirmed
(reduced from 55crs)
P. Patel Ship Breaking Company        LT Bk Fac          CARE BB        20      Reaffirmed
Panchmahal Steel Ltd                  LT Bk Fac          CARE BB+       550     Reaffirmed
Platinum Motocorp Llp                 LT Bk Fac          CARE BB-       140     Assigned
Platinum Motocorp Llp                 LT/ ST Bk Fac      CARE BB- /CARE 10      Assigned
                                                         A4
Pradeep Industrial Packers Pvt Ltd    LT Bk Fac          CARE BB        230     Reaffirmed
R Chem (Somanahalli) Pvt Ltd          LT Bk Fac          CARE BBB-      45.1    Reaffirmed
Rajasthan Fort And Palace Pvt Ltd     LT Bk Fac          CARE BB        226.1   Reaffirmed
Ramani Timber Mart                    LT Bk Fac          CARE B+        20      Reaffirmed
Ramky Integrated Township Ltd         LT Bk Fac          CARE BBB-      250     Assigned
Rashmi Cement Ltd                     LT Bk Fac          CARE A-        300     Reaffirmed
(reduced from 55crs)
S.N. Rice Mills                       LT Bk Fac          CARE BB        135     Reaffirmed
Satguru Agro Industries Ltd           LT Bk Fac          CARE B         202     Issuer not
                                                                                cooperating
Sempertrans India Pvt Ltd             Fund based Bk Fac  CARE BBB+      15      Revised from
                                                         /CARE A2+              CARE A-/ CARE
                                                                                A2+
Sempertrans India Pvt Ltd             Non-fund Bk Fac    CARE BBB+      90      Revised from
                                                         /CARE A2+              CARE A-/ CARE
                                                                                A2+
Sharp Chucks And Machines Pvt Ltd     LT Bk Fac          CARE BB+       21.8    Reaffirmed
Sharp Chucks And Machines Pvt Ltd     LT Bk Fac / ST Bk  CARE BB+ /CARE 230     Reaffirmed
                                      Fac                A4
Shiv Puja Constructions Pvt Ltd       LT Bk Fac          CARE BBB       275     Revised from
                                                                                CARE BBB-
Shivratna Construction And EarthmoversLT Bk Fac          CARE BB        40      Assigned
Shrachi Burdwan Developers Pvt Ltd    LT Bk Fac          CARE D         180     Revised from
                                                                                CARE BBB-
(reduced from 46.00crs)
Shree Narmada Khand Udyog Sahakari    LT Bk Fac          CARE BB-       200     Reaffirmed
Mandli Ltd
Shree Ram Cottex Industries Pvt Ltd   LT Bk Fac          CARE B+        300     Assigned
Sns Starch Ltd                        LT Bk Fac          CARE D         609.3   Issuer not
                                                                                cooperating/
                                                                                Revised
                                                                                from CARE B+
Sri Laxmi Traders                     LT Bk Fac          CARE BB-       70      Issuer not
                                                                                cooperating
Sridhar Engineering And Rubber ProductLT Bk Fac          CARE BB-       60      Issuer not
Pvt Ltd                                                                         cooperating
Suncity Strips And Tubes Pvt Ltd      LT Bk Fac          CARE BBB       245     Reaffirmed
Sungrace Syntex Pvt Ltd               LT Bk Fac          CARE B+        84.5    Assigned
Thomas & Company Pvt Ltd              LT Bk Fac          CARE B+        65      Assigned
Tirupati Iron Impex Pvt Ltd           CC                 CARE BB+       220     Issuer not
                                                                                cooperating
United Infraventures Ltd              LT Bk Fac          CARE D         90.5    Issuer not
                                                                                cooperating
Vinod Kumar Pandey                    LT Bk Fac          CARE BB        50      Issuer not
                                                                                cooperating
--------------------------------------------------------------------------------------------
$: 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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