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CARE ratings for Indian debt instruments-Mar 28
March 28, 2017 / 7:46 AM / 6 months ago

CARE ratings for Indian debt instruments-Mar 28

    Mar 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 27, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                      (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Atlantis Products Pvt Ltd             ST Bk Fac          CARE A4+       10      Issuer not
                                                                                cooperating
Beekaylon Synthetics Pvt Ltd          ST Bk Fac          CARE A2+       165     Reaffirmed
Bell Flower Trading Company Pvt Ltd   ST Bk Fac          CARE A4        1       Reaffirmed

Clix Finance India Unltd              CP (proposed)      CARE A1+       2000    Assigned
Corlim Marine Exports Pvt Ltd         ST Bk Fac          CARE A3        300     Issuer not
                                                                                cooperating
Dhingra Exports                       ST Bk Fac          CARE A4        85      Assigned
Diamond Hometex India Pvt Ltd         ST Bk Fac          CARE A4        7.5     Issuer not
                                                                                cooperating
Diligent Pinkcity Center Pvt Ltd      ST Bk Fac          CARE A4        128     Reaffirmed
Indianivesh Commodities Pvt Ltd       ST Bk Fac          CARE A4+ (SO)  200     Revised from
                                                                                CARE A3 (SO)
Indianivesh Securities Ltd (Erstwhile ST Bk Fac          CARE A4+ (SO)  650     Revised from
Indianivesh Securities Pvt Ltd)                                                 CARE A3 (SO)
Kanhha Cables Pvt. Ltd.               ST Bk Fac          CARE A4        70      Assigned
Ken Enterprises Pvt Ltd               ST Bk Fac          CARE A4+       120     Issuer not
                                                                                cooperating
Laxmi Board And Paper Mills Pvt Ltd   ST Bk Fac          CARE A3+       70      Reaffirmed
(reduced from Rs.12.00crs)
Lipi Data Systems Ltd                 ST Bk Fac          CARE A3        1650    Revised from
                                                                                CARE A2
M. U. Jewellers Pvt Ltd               ST Bk Fac          CARE A4+       50      Reaffirmed
Meena Jewellers & Diamond Pvt Ltd     ST Bk Fac          CARE A3        50      Issuer not
                                                                                cooperating
Meena Jewellers Pvt Ltd               ST Bk Fac          CARE A3        50      Issuer not
                                                                                cooperating
Neha International Ltd                ST Bk Fac          CARE A3        235     Reaffirmed
Orange City Water Pvt Ltd             ST Bk Fac          CARE A3        400     with negative
                                                                                implications
Orient Cement Ltd                     CP                 CARE A1+       1000    @
Orient Cement Ltd                     CP*                CARE A1+       1500    @
*Carved out of the sanctioned working capital limits of the company.
P & C Projects Pvt Ltd                ST Bk Fac          CARE A4        100     Reaffirmed
Patanjali Ayurved Ltd                 Proposed CP#       CARE A1        1000    Reaffirmed
#The CP is proposed issue to be carved out from the working capital borrowing limits of the
company
Provogue India Ltd                    ST Bk Fac          CARE D         304.7   Issuer not
                                                                                cooperating
Polymer Technologies International    ST Bk Fac          CARE A3        60      Revised from
                                                                                CARE A3+
Rajiv Petrochemicals Pvt Ltd          ST Bk Fac          CARE A4+       336     Issuer not
                                                                                cooperating
Rsk Industries Pvt Ltd                ST Bk Fac          CARE A4        40      Issuer not
                                                                                cooperating
Ruchi Infrastructure Ltd              ST Bk Fac          -              -       Suspension
                                                                                revoked and
                                                                                withdrawn
S K Samanta & Company Pvt Ltd         ST Bk Fac          CARE A2+       110     Reaffirmed
Sandip Nanavati                       ST Bk Fac          CARE A4+       150     Reaffirmed
Sahara Hospitality Ltd                ST Bk Fac          CARE D         200     Reaffirmed
Sapcon Steels Pvt Ltd                 ST Bk Fac          CARE A4        40      Issuer not
                                                                                cooperating
Shapers Construction Ltd              ST Bk Fac          CARE A3+       170     Reaffirmed
Shri Gajanan Agro Industries          ST Bk Fac          CARE A4        0.5     Reaffirmed
Sml Films Ltd (Formerly Known As SuratST Bk Fac          -              -       Withdrawn#
Metallics Ltd)
# CARE has withdrawn the short term rating assigned the bank facilities of SML Films Limited as
the same are now classify under long-term bank facilities.
Sri Sai Durga Infratech India Pvt Ltd Short- term Bk Fac CARE D         50      Revised from
                                                                                CARE A4
Tata Teleservices Ltd                 Non-FB ST Bk Fac – CARE A2+       25850   Revised from
                                      BG/LC                                     CARE A1+
Tata Teleservices Ltd                 CP /Shortterm Debt CARE A2+       40000   Revised from
                                                                                CARE A1+
Tata Teleservices Ltd                 Non-FB ST Bk Fac – CARE A2+       25850   Revised from
                                      BG/LC                                     CARE A1+
Tata Teleservices Ltd                 CP /Shortterm Debt CARE A2+       40000   Revised from
                                                                                CARE A1+
Tata Teleservices( Maharashtra) Ltd   Bk                 CARE A2+       10050   Revised from
                                      Fac-Non-fundbased                         CARE A1
                                      - ST-BG
Tata Teleservices( Maharashtra) Ltd   Bk Fac-FB - ST-TL  CARE A2+       5500    Revised from
                                                                                CARE A1
Taylor Rubber Pvt Ltd                 ST Bk Fac          CARE A3        28.5    Issuer not
                                                                                cooperating
Tirupati Plastomatics Pvt. Ltd        ST Bk Fac          CARE A4+       90      Assigned

MEDIUM TERM RATINGS:
-------------------
Dhampur Sugar Mills Ltd               Medium-term Fixed  CARE BBB+ (FD) 300     Revised from
                                      Deposit                                   CARE BBB (FD)
LONG TERM RATINGS:
-------------------
Alaknanda Hydro Power Co. Ltd         LT Bk Fac          CARE D         21479.4 Reaffirmed
Anjani Tiles Ltd                      LT Bk Fac          CARE BBB-      510     Reaffirmed
Atlantis Products Pvt Ltd             LT Bk Fac          CARE BB-       46.5    Revised from
                                                                                CARE BB
Atlantis Products Pvt Ltd             LT/ Shortterm Bk   CARE BB- /CARE 230     Revised from
                                      Fac                A4+                    CARE BB/ CARE
                                                                                A4+
Axiscades Engineering Technologies LtdLT/ Short Bk Fac   CARE BBB+      350     Reaffirmed
Axiscades Engineering Technologies LtdLT Bk Fac          CARE BBB+      18.7    Reaffirmed
Bayan Contractor And Builders Pvt Ltd LT Bk Fac          CARE BB        63.3    Assigned
Beekaylon Synthetics Pvt Ltd          LT Bk Fac          CARE A-        1125    Reaffirmed
Bell Flower Trading Company Pvt Ltd   LT Bk Fac          CARE BB        152.4   Reaffirmed
[Reduced from 17.75crs]
Clix Finance India Unltd              LT Bk Fac          CARE AA-       5000    Assigned
Clix Finance India Unltd              LT Instruments     CARE AA-       1000    Assigned
                                      (proposed)
Clix Finance India Unltd              LT/ST Bk Fac       CARE AA- /A1+  500     Assigned
Combine Diamonds Pvt Ltd              LT Bk Fac          CARE B+        480     Reaffirmed
Combine Diamonds Pvt Ltd              Proposed LT Bk Fac CARE B+        70      Reaffirmed
Coral Granito Pvt Ltd                 LT Bk Fac          CARE BBB-      278.2   Reaffirmed
Coral Granito Pvt Ltd                 LT/ST Bk Fac       CARE BBB-      62.5    Reaffirmed
                                                         /CARE A3
Dhampur Sugar Mills Ltd               LT Bk Fac          CARE BBB+      9290    Revised from
                                                                                CARE BBB
Dhingra Exports                       LT Bk Fac          CARE B+        15      Assigned
Diamond Hometex India Pvt Ltd         LT Bk Fac          CARE BB-       73      Issuer not
                                                                                cooperating
Diligent Pinkcity Center Pvt Ltd      LT Bk Fac          CARE BB-       903     Reaffirmed
Essel Walajahpet Poonamallee Toll RoadLT Bk Fac (TL)     ARE BBB+ (SO)  1693.9  Reaffirmed
Pvt Ltd
Ganesh Ramchandra Apte                LT Bk Fac          CARE BB        280     Reaffirmed
Gati Infrastructure Ltd               LT Bk Fac          CARE D         2292.3  Reaffirmed
Glisten Gold Collections Pvt Ltd      LT Bk Fac          CARE BB+       105     Reaffirmed
(increased from 7.50crs)
Harak Chandra Flour Mills Ltd         LT Bk Fac          CARE BB+       52.5    Reaffirmed
J.V. Exports                          LT Bk Fac          CARE BB        80      Reaffirmed
Jay Iber Pvt Ltd                      LT Bk Fac          CARE BB-       55.7    Issuer not
                                                                                cooperating
Jecrc University                      LT Bk Fac          CARE D         1052.3  Revised from
                                                                                CARE B+
Kalthia Engineering And Construction  LT Bk Fac          CARE A-        302.9   Issuer not
Ltd                                                                             cooperating
Kalthia Engineering And Construction  LT/ST Bk Fac       CARE A-/CARE   1535    Issuer not
Ltd                                                      A2+                    cooperating
Kalthia Infra Pvt Ltd                 LT Bk Fac          CARE A- (SO)   89.7    Issuer not
                                                                                cooperating
Kalthia Infra Pvt Ltd                 LT/ST Bk Fac       CARE A- (SO)   20      Issuer not
                                                         /CARE A2+ (SO)         cooperating
Kalthia Infracon Pvt Ltd              LT Bk Fac          CARE A- (SO)   509.2   Issuer not
                                                                                cooperating
Kamineni Health Care Pvt Ltd          LT Bk Fac          CARE D         182.8   Withdrawn
Kanhha Cables Pvt. Ltd.               LT Bk Fac          CARE BB-       30      Assigned
Kanhha Cables Pvt. Ltd.               LT/ ST Bk Fac      CARE BB- /CARE 80      Assigned
                                                         A4
Karan Rice Mills                      LT Bk Fac          CARE B-        99      Assigned
Kataria Motors Pvt Ltd                LT Bk Fac          CARE B+        20.9    Reaffirmed
Ken Enterprises Pvt Ltd               LT Bk Fac          CARE BB+       43.3    Issuer not
                                                                                cooperating
Ken Enterprises Pvt Ltd               LT/ST Bk Fac       CARE BB+ /CARE 220     Issuer not
                                                         A4+                    cooperating
Kishori Sarees Pvt Ltd                LT Bk Fac          CARE B         62.5    Assigned
Lalitha Jewellery Mart Pvt Ltd        LT Bk Fac          CARE BBB+      6500    Issuer not
                                                                                cooperating
Latha Rice Industries                 LT Bk Fac          CARE B         93.9    Reaffirmed
(Reduced from 9.60crs)
Laxmi Board And Paper Mills Pvt Ltd   LT Bk Fac          CARE BBB+      355.5   Reaffirmed
(enhanced from Rs.35.00crs)
Lipi Data Systems Ltd                 LT Bk Fac          CARE BBB       500     Revised from
                                                                                CARE BBB+
Lipi Data Systems Ltd                 LT/ ST Bk Fac      CARE BBB /CARE 400     Revised from
                                                         A3                     CARE BBB+/
                                                                                CARE A2
M. U. Jewellers Pvt Ltd               LT Bk Fac          CARE BB        130     Reaffirmed
Meena Jewellers & Diamond Pvt Ltd     LT Bk Fac          CARE BBB-      630     Issuer not
                                                                                cooperating
Meena Jewellers Exclusive Pvt Ltd     LT Bk Fac          CARE BBB-      680     Issuer not
                                                                                cooperating
Meena Jewellers Extension Pvt Ltd     LT Bk Fac          CARE BBB-      280     Issuer not
                                                                                cooperating
Meena Jewellers Pvt Ltd               LT Bk Fac          CARE BBB-      610     Issuer not
                                                                                cooperating
Meena Jewels Exports                  LT Bk Fac          CARE BBB-      320     Issuer not
                                                                                cooperating
Mercury Travels Ltd                   LT Bk Fac          CARE BBB-      212.5   Reaffirmed
Mfl Securitisation Trust Xxiii        Series A1 PTCs     -              -       Withdrawn
[Originator: Magma Fincorp Ltd
Mfl Securitisation Trust Xxiii        Series A2 PTCs     -              -       Withdrawn
[Originator: Magma Fincorp Ltd
Mfl Securitisation Trust Xxiii        Second Loss        -              -       Withdrawn
[Originator: Magma Fincorp Ltd        Facility
Mfl Securitisation Trust Xxiii        Liquidity Facility -              -       Withdrawn
[Originator: Magma Fincorp Ltd
Mhow Ghatabillod Toll Roads Pvt Ltd   LT Bk Fac (TL)     CARE BBB+ (SO) 2076.1  Reaffirmed
Modern Machinery Store                LT Bk Fac          CARE B+        93      Assigned
Modern Machinery Store                LT/ ST Bk Fac      CARE B+ /CARE  3       Assigned
                                                         A4
Mpr Wind Farms                        LT Bk Fac          CARE BBB-      170.3   Reaffirmed
(reduced from 19.13crs)
National Bank For Agricultural And    LT Instruments     CARE AAA       120100  Reaffirmed
Rural Development
Navayuga Dhola Infra Projects Pvt Ltd LT Bk Fac          CARE BBB       3200    Reaffirmed
Neha International Ltd                LT Bk Fac          CARE BBB-      74      Reaffirmed
(reduced from 10crs)
Nirman Homes                          LT Bk Fac          CARE BB-       90      Assigned
Orange City Water Pvt Ltd             LT Bk Fac          CARE BBB-      2326.4  @
Orient Cement Ltd                     LT Bk Fac          CARE AA-       13530   @
P & C Projects Pvt Ltd                LT Bk Fac          CARE BB        800     Reaffirmed
(enhanced from 60crs)
P & C Projects Pvt Ltd                Long/ST Bk Fac     CARE BB /CARE  1450    Reaffirmed
                                                         A4
(enhanced from 125crs)
Pankaj Ispat Ltd.                     LT Bk Fac          CARE B-        150     Issuer not
                                                                                cooperating
Patanjali Ayurved Ltd                 LT Bk Fac          CARE A+        3000    Revised from
                                                                                CARE A
Patanjali Ayurved Ltd                 LT/ ST Bk Fac      CARE A+ /CARE  200     Revised from
                                                         A1                     CARE A/CARE A1
Polymer Technologies International    LT Bk Fac          CARE BBB-      140     Revised from
                                                                                CARE BBB
Prathamesh Constructions              LT Bk Fac          CARE B+        134     Issuer not
                                                                                cooperating
Prestige Education Society            LT Bk Fac          -              -       Withdrawn
Provogue India Ltd                    LT Bk Fac          CARE D         2186.8  Issuer not
                                                                                cooperating
Rajiv Petrochemicals Pvt Ltd          LT Bk Fac          CARE BB-       210     Issuer not
                                                                                cooperating
Rsk Industries Pvt Ltd                LT Bk Fac          CARE BB-       1.5     Issuer not
                                                                                cooperating
Rsk Industries Pvt Ltd                LT Bk Fac/ ST Bk   CARE BB- /CARE 20.4    Issuer not
                                      Fac                A4                     cooperating
S K Samanta & Company Pvt Ltd         LT Bk Fac          CARE A-        150     Reaffirmed
Sahara Hospitality Ltd                LT Bk Fac          CARE D         5067.4  Reaffirmed
Sandip Nanavati                       LT Bk Fac          CARE BB+       7.5     Reaffirmed
Sangam Steels                         LT Bk Fac          CARE B         70      Issuer not
                                                                                cooperating
Sanjay Castings (India) Pvt Ltd       LT Bk Fac          CARE B+        40      Assigned
Sanjay Castings (India) Pvt Ltd       LT/ST Bk Fac       CARE B+/CARE A480      Assigned
Sapcon Steels Pvt Ltd                 LT Bk Fac          CARE BB-       40      Issuer not
                                                                                cooperating
Scm Silks Pvt Ltd                     LT Bk Fac          CARE BBB+      500     Reaffirmed
Shapers Construction Ltd              LT Bk Fac          CARE BBB       10      Reaffirmed
Shivam Traders                        LT Bk Fac          CARE BBB+      500     Revised from
                                                                                CARE BBB
Shree Veerabhadreswara Rice IndustriesLT Bk Fac          CARE B         60      Assigned
Shri Dhanalakshmi Green Energy India  LT Bk Fac          CARE B+        328.5   Issuer not
Pvt Ltd                                                                         cooperating
Shri Gajanan Agro Industries          LT Bk Fac          CARE B         64.1    Reaffirmed
Shri Gangajali Education Society      LT Bk Fac          CARE BBB+      1320.8  Reaffirmed
(enhanced from 127.58crs)
Small Business Loan Trust [Originator:Series A1 PTCs     -              -       Withdrawn
Shriram City Union Finance Ltd (Scuf)]
Small Business Loan Trust [Originator:Series A2 PTCs     -              -       Withdrawn
Shriram City Union Finance Ltd (Scuf)]
Sml Films Ltd (Formerly Known As SuratLT Bk Fac          CARE BBB       2795.2  reaffirmed
Metallics Ltd)
Sml Films Ltd (Formerly Known As SuratLong/ST Bk Fac     CARE BBB /CARE 50      reaffirmed
Metallics Ltd)                                           A3+
Sri Sai Durga Infratech India Pvt Ltd Long- term Bk Fac  CARE D         50      Revised from
                                                                                CARE BB
Sri Sai Durga Infratech India Pvt Ltd Long- term/Short-  CARE D         230     Revised from
                                      term Bk Fac                               CARE BB/CARE
                                                                                A4
Sri Sai Swarupa Seeds Pvt Ltd         LT Bk Fac          CARE BB+       80      Reaffirmed
Sri Satnam Jewells Pvt. Ltd.          LT Bk Fac          CARE B+        120     Assigned
Supra Craft Packaging Pvt Ltd         LT Bk Fac          CARE BB-       189.4   Issuer not
                                                                                cooperating
Tata Teleservices Ltd                 NCDs               CARE A         10000   Revised from
                                                                                CARE A
Tata Teleservices Ltd                 LT Bk FacTL        CARE A-        121480  Revised from
                                                                                CARE A
Tata Teleservices Ltd                 LT Bk FacCC        CARE A-        1000    Revised from
                                                                                CARE A
Tata Teleservices Ltd                 NCDs               CARE A-        10000   Revised from
                                                                                CARE A
Tata Teleservices Ltd                 LT Bk FacTL        CARE A-        121480  Revised from
                                                                                CARE A
Tata Teleservices Ltd                 LT Bk FacCC        CARE A-        1000    Revised from
                                                                                CARE A
Tata Teleservices( Maharashtra) Ltd   LT Bk FacTL        CARE A -       54330   Revised from
                                                                                CARE A
Tata Teleservices( Maharashtra) Ltd   Bk Fac-FBLT-CC     CARE A -       1400    Revised from
                                                                                CARE A
Tata Teleservices( Maharashtra) Ltd   Bk Fac- Proposed   CARE A - /CARE 980     Revised from
                                                         A2+                    CARE A
Taylor Rubber Pvt Ltd                 LT Bk Fac          CARE BBB       32.3    Issuer not
                                                                                cooperating
Tirupati Plastomatics Pvt. Ltd        LT Bk Fac          CARE BB+       50      Assigned
Tirupati Plastomatics Pvt. Ltd        LT/ ST Bk Fac      CARE BB+ /CARE 250     Assigned
                                                         A4+
Travancore Multispeciality Hospital PvLT Bk Fac          CARE B+        122     Issuer not
Ltd                                                                             cooperating
Varad Fertilizers                     LT Bk Fac          CARE BB-       53      Issuer not
                                                                                cooperating
Vishal Structurals Pvt Ltd            LT Fund Based Bk   CARE BB+       256     Reaffirmed
                                      Facility – CC
Vishal Structurals Pvt Ltd            LT Non-Fund Based  CARE BB+       431     Reaffirmed
                                      Bk Facility – BGs
Wellwisher Trexim Pvt Ltd             LT Bk Fac          CARE BB        125.4   Reaffirmed
[Reduced from 14.49crs]
--------------------------------------------------------------------------------------------
$: 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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