March 23, 2017 / 6:43 AM / 7 months ago

CARE ratings for Indian debt instruments-Mar 23

   Mar 23 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 22, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
24/7 Customer Pvt Ltd                 ST Bk Fac          CARE A3+       1020    Issuer not
                                                                                cooperating
Antique Textile Pvt Ltd               ST Bk Fac          CARE A4        2       Reaffirmed
Bend Joint Pvt Ltd                    ST Bk Fac          CARE A4        30      Reaffirmed

Bony Polymers Pvt Ltd                 ST Bk Fac          CARE A3        136     Reaffirmed
Bowreah Jute Mills Pvt Ltd            ST Bk Fac          CARE A4        150     Reaffirmed
(enhanced from 5 CR)
Celite Tyre Corporation               ST Bk Fac          CARE A4+       127.5   Reaffirmed
Ecl Finance Ltd                       CP                 CARE A1+       36000   Reaffirmed
Edelweiss Commodities Services Ltd    CP                 CARE A1+       35000   Reaffirmed
Edelweiss Finance & Investments Ltd   CP                 CARE A1+       2500    Reaffirmed
Edelweiss Housing Finance Ltd         CP                 CARE A1+       5000    Reaffirmed
Edelweiss Retail Finance Ltd          CP                 CARE A1+       5000    Reaffirmed
Evertogen Life Sciences Ltd           ST Bk Fac          CARE A4        106.2   Reaffirmed
(enhanced from 10.00 CR)
Happy Acoustics Pvt Ltd               ST Bk Fac          CARE A4+       365     Issuer not
                                                                                cooperating
Harsh Constructions Pvt Ltd           ST Bk Fac (NonFB)  CARE A3+       30      Issuer not
                                                                                cooperating
Innovative Textiles Ltd               ST Bk Fac          CARE A3        172.3   Reaffirmed
(reduced from 23.65 CR)
Jai Karni Suitings Pvt Ltd            ST Bk Fac          CARE A4        4       Reaffirmed
Kalpsutra Gujarat                     ST Bk Fac          CARE A2        25      Revised from
                                                                                CARE A3+
Krsna Transmission Hardware           ST Bk Fac          CARE A4        15      Assigned
Manufacturing Pvt Ltd
Neha Export                           ST Bk Fac          CARE A4        140     Issuer not
                                                                                cooperating
Nr Oils                               ST Bk Fac          CARE A2        6       Revised from
                                                                                CARE A3+
Om Shiv Lumbers Pvt Ltd               ST Bk Fac          CARE D         35      Issuer not
                                                                                cooperating
Royal Wood Pvt Ltd                    ST Bk Fac          CARE D         95      Issuer not
                                                                                cooperating
Rajkishor Singh                       ST Bk Fac          CARE A4        20      ISSUER NOT
                                                                                COOPERATING
Recore Ceramic                        ST Bk Fac          CARE A4        16      Assigned
Resins And Allied Products            ST Bk Fac          CARE A3+       240     Reaffirmed
Roger Industries Ltd                  ST Bk Fac          CARE A3+       380     Reaffirmed
Rotomac Electricals Pvt. Ltd.         ST Bk Fac          CARE A4        65      ISSUER NOT
                                                                                COOPERATING;
                                                                                BASED ON 
                                                                                BEST 
                                                                                AVAILABLE
                                                                                INFORMATION
Sara Spintex India Pvt Ltd            ST Bk Fac          CARE D         20      Issuer not
                                                                                cooperating
Kryfs Power Components Ltd.           ST/LT Bk Fac       CARE A- /CARE  2050    Revised from
                                      (FB/NonFB)         A2+                    CARE A / CARE
                                                                                A1
Sailganga Eu Exports                  ST Bk Fac          CARE A4        65      Assigned
Standard Fireworks Pvt Ltd            ST Bk Fac          CARE A2+       1450    Reaffirmed
(enhanced from 125 CR)
Tide Industries                       ST Bk Fac          CARE A2        80      Revised from
                                                                                CARE A3+
Tirupati Niryat Pvt Ltd               ST Bk Fac          CARE A4        20      ISSUER NOT
                                                                                COOPERATING;
                                                                                BASED ON 
                                                                                BEST 
                                                                                AVAILABLE
                                                                                INFORMATION
Visakha Foods Pvt Ltd                 ST Bk Fac          CARE A4        6.4     Assigned

LONG TERM RATINGS:
-------------------
24/7 Customer Pvt Ltd                 LT Bk Fac          CARE BBB+      475     Issuer not
                                                                                cooperating
Akme Fintrade (India) Ltd.            LT Bk Fac          CARE BBB-      500     Revised from
                                                                                CARE BB+
Antique Textile Pvt Ltd               LT Bk Fac          CARE BB-       152.3   Reaffirmed
(enhanced from 7.96 CR)
Astrica Laboratories Pvt Ltd          LT Bk Fac          CARE B+        79.5    Assigned
Axita Cotton Pvt Ltd                  LT Bk Fac          CARE B+        132     Assigned
Bend Joint Pvt Ltd                    LT Bk Fac          CARE BB        113     Revised from
                                                                                CARE BB-
Bony Polymers Pvt Ltd                 LT Bk Fac          CARE BBB-      694.7   Reaffirmed
(reduced from 70.00 CR)
Bowreah Jute Mills Pvt Ltd            LT Bk Fac          CARE BB        150     Reaffirmed
(enhanced from 10 CR)
Celite Tyre Corporation               LT Bk Fac          CARE BB+       120     Reaffirmed
Chhabra Autolink Pvt Ltd              LT Bk Fac          CARE B+        60      Reaffirmed
(Reduced from 8.67 CR)
Ecl Finance Ltd                       NCD                CARE AA        43250   Reaffirmed
Ecl Finance Ltd                       Subordinate Deb    CARE AA        14000   Reaffirmed
Ecl Finance Ltd                       Principal          CARE AA        13000   Reaffirmed
                                      protected
                                      Market-linked Debenture
Ecl Finance Ltd                       Retail Bonds       CARE AA        13000   Reaffirmed
Ecl Finance Ltd                       LT Bk Fac          CARE AA        52000   Reaffirmed
Edelweiss Commodities Services Ltd    NCD                CARE AA        11000   Reaffirmed
Edelweiss Finance & Investments Ltd   NCD                CARE AA        1500    Reaffirmed
Edelweiss Finance & Investments Ltd   Principal          CARE PP-MLD- AA5000    Reaffirmed
                                      protected
                                      Marketlinked Debenture
Edelweiss Housing Finance Ltd         Subordinated Debt  CARE AA        1000    Reaffirmed
Edelweiss Housing Finance Ltd         Bk Fac             CARE AA        13500   Reaffirmed
Edelweiss Housing Finance Ltd         Retail NCD         CARE AA        5000    Reaffirmed
Edelweiss Housing Finance Ltd         NCD                CARE AA        2000    Reaffirmed
Edelweiss Housing Finance Ltd         NCD                CARE AA(SO)*   2500    Reaffirmed
*The rating for NCD is based on credit enhancement in the form of an unconditional
 and irrevocable guarantee for debt servicing from the parent company, 
 Edelweiss Financial Services Limited (EFSL).
Edelweiss Retail Finance Ltd          NCD                CARE AA        4500    Reaffirmed
Edelweiss Retail Finance Ltd          Subordinate Debt   CARE AA        1000    Reaffirmed
Eshwar Trust                          LT Bk Fac          CARE BB-       231.7   Reaffirmed
Evertogen Life Sciences Ltd           LT Bk Fac          CARE BB        431.6   Reaffirmed
(reduced from 43.78 CR)
G. M. Agro Industries                 LT Bk Fac          CARE B+        60      Issuer not
                                                                                cooperating
Happy Acoustics Pvt Ltd               LT Bk Fac          CARE BB+       15      Issuer not
                                                                                cooperating
Harsh Constructions Pvt Ltd           LT Bk Fac          CARE BBB       50      Issuer not
                                      (Fundbased)                               cooperating
Harsh Constructions Pvt Ltd           LT/ST Bk Fac       CARE BBB /CARE 150     Issuer not
                                      (Fund/Non-FB)      A3+                    cooperating
Idbi Bank Ltd                         Lower Tier II Bonds-              200     withdrawn
Idbi Bank Ltd                         Lower Tier II BondsCARE AA-       500     Revised from
                                                                                CARE AA
Innovative Textiles Ltd               LT Bk Fac          CARE BBB-      1439.8  Revised from
                                                                                CARE BBB
(reduced from 157.95 CR)
Jai Karni Suitings Pvt Ltd            LT Bk Fac          CARE B+        101.8   Reaffirmed
Jajoo Exports                         LT Bk Fac          CARE BB-       0.8     Reaffirmed
[Reduced from 0.80 CR]
Jajoo Exports                         LT/ST Bk Fac       CARE BB- /CARE 96      Reaffirmed
                                                         A4
Jitendra Udhyog                       LT/Short- term Bk  CARE B+ /CARE  75      Assigned
                                      Fac                A4
Kalpsutra Gujarat                     LT Bk Fac          CARE BBB+      87.5    Revised from
                                                                                CARE BBB
Kandla Agro And Chemicals Pvt Ltd     LT Bk Fac          CARE BBB       178.4   Revised from
                                                                                CARE BBB-
(Reduced from 26.29 CR)
Kandla Agro And Chemicals Pvt Ltd     LT/ST Bk Fac       CARE BBB /CARE 2600    Revised from
                                                         A3+                    CARE BBB- /
                                                                                CARE A3
Keshvanand Ceramic Industries         LT Bk Fac          CARE B         41      Reaffirmed
Krsna Transmission Hardware           LT Bk Fac          CARE BB        38      Assigned
Manufacturing Pvt Ltd
Kryfs Power Components Ltd.           LT Bk Fac (FB)     CARE A-        250     Revised from
                                                                                CARE A
Kryfs Transformers Pvt Ltd.           ^LT Bk Fac- (FB)   CARE A- (SO)   37.5    Revised from
                                                                                CARE A
^backed by unconditional, irrevocable and continuing corporate guarantee 
 issued by the guarantor, KRYFS Power Components Ltd. to the lenders of
 Kryfs Transformers Private Limited (PTPL) formerly
 known as Pratik Transformers Private Ltd
Kryfs Transformers Pvt Ltd.           ^LT/ ST Bk Fac     CARE A- (SO)   1000    Revised from
                                      (Non-fundbased)- BG/CARE A2+(SO)          CARE A / CARE
                                                                                A1(SO)
^backed by unconditional, irrevocable and continuing corporate guarantee 
 issued by the guarantor, KRYFS Power Components Ltd. to the lenders of
 Kryfs Transformers Private Limited (PTPL) formerly
 known as Pratik Transformers Private Ltd
Neha Export                           LT Bk Fac          CARE BB-       10      Issuer not
                                                                                cooperating
Nr Oils                               LT Bk Fac          CARE BBB+      62.5    Revised from
                                                                                CARE BBB
Om Shiv Lumbers Pvt Ltd               LT Bk Fac          CARE D         15      Issuer not
                                                                                cooperating
Om Shree International Pvt Ltd        LT Bk Fac          CARE BBB       250     Issuer not
                                                                                cooperating
Paramount Rice Pvt Ltd                LT Bk Fac          CARE BB-       229.3   Reaffirmed
(enhanced from 10.00 crore)
Prithvi Pumps                         LT Bk Fac          CARE B+        54.6    Issuer not
                                                                                cooperating
Rajkishor Singh                       LT Bk Fac          CARE BB-       10      ISSUER NOT
                                                                                COOPERATING
Recore Ceramic                        LT Bk Fac          CARE B         76.6    Assigned
Renew Wind Energy (Ap3) Pvt Ltd       LT Bk Fac          CARE BBB       1085    Assigned
Resins And Allied Products            LT Bk Fac          CARE BBB+      5       Revised from
                                                                                CARE BBB
Roger Industries Ltd                  LT Bk Fac          CARE BBB       1.9     Reaffirmed
(reduced from 1.63 CR)
Rotomac Electricals Pvt. Ltd.         LT Bk Fac          CARE BB-       20      ISSUER NOT
                                                                                COOPERATING;
                                                                                BASED ON 
                                                                                BEST 
                                                                                AVAILABLE
                                                                                INFORMATION
Royal Wood Pvt Ltd                    LT Bk Fac          CARE D         40      Issuer not
                                                                                cooperating
S.K. Solvex Pvt Ltd                   LT/ ST Bk Fac      CARE BB- /CARE 85      Assigned
                                                         A4
Sara Spintex India Pvt Ltd            LT Bk Fac          CARE D         484.8   Issuer not
                                                                                cooperating
Shree Laxmi Jewellery Pvt Ltd         LT Bk Fac          CARE BB+       200     Issuer not
                                                                                cooperating
Shyamaraju And Company India P Ltd.   LT Bk FacLease     CARE BBB(SO)   2067    Reaffirmed
                                      Rental Discounting
(reduced from 209.6 CR)
Siddharth Agro Industries             LT/ST Bk Fac       CARE B +/CARE  75      Assigned
                                                         A4
Sp Imperial Star Pvt Ltd              Proposed LT NCD    CARE A         6500    Reaffirmed
                                      (NCDs) – Series ”A”
Sp Imperial Star Pvt Ltd              Proposed LT NCD    CARE AA+(SO)   500     Assigned
                                      (NCDs) – Series “B”
Sri Pavithra Cotton Mills Pvt Ltd     Proposed - LT Bk   CARE B         164.5   Assigned
                                      Fac
Sri Ranilakshmi Textiles Pvt Ltd      LT Bk Fac          CARE B+        120     Assigned
Standard Fireworks Pvt Ltd            LT Bk Fac          CARE A         947.1   Reaffirmed
(reduced from 97.08 CR)
Standard Fireworks Pvt Ltd            LT/ST Bk Fac       CARE A /CARE   8       Reaffirmed
                                                         A2+
Sterling Oil Exploration & Energy     LT Bk Fac (SBLC)   CARE D         48042.7 Revised from
Production Co. Ltd                                                              CARE BB
Sterling Oil Exploration & Energy     LT loans           CARE D         15865.6 Assigned
Production Co. Ltd
Tide Industries                       LT Bk Fac          CARE BBB+      86.5    Revised from
                                                                                CARE BBB
Tirupati Niryat Pvt Ltd               LT Bk Fac          CARE B+        150     ISSUER NOT
                                                                                COOPERATING;
                                                                                BASED ON 
                                                                                BEST 
                                                                                AVAILABLE
                                                                                INFORMATION
Universal Infra & Agri Oil Pvt Ltd    LT Bk Fac          CARE BB+       236.7   Reaffirmed
(reduced from 29.67 CR)
Universal Saur Urja Pvt Ltd           LT Bk Fac          CARE BBB       1570    Assigned
Utopian Sugars Ltd                    LT Bk Fac          CARE D         1360    Revised from
                                                                                CARE BB-
Vijaya Durga Green Fields Pvt Ltd     LT Bk Fac          CARE B         80      Reaffirmed
Vimit Metals And Infrastructure Pvt Ltd LT Bk Fac        CARE B+        43.9    Issuer not
                                                                                cooperating
Visakha Foods Pvt Ltd                 LT Bk Fac          CARE B+        48.4    Assigned
--------------------------------------------------------------------------------------------
$: 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