April 5, 2017 / 5:23 AM / 5 months ago

CARE ratings for Indian debt instruments-Apr 5

    Apr 5 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 4, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Al-Nasir Exports Pvt Ltd              ST Bk Fac          CARE A4        450     Revised from
                                                                                CARE A3
Arun Excello Constructions Llp        ST Bk Fac          CARE A3        100     Reaffirmed
Astron Packaging Ltd                  ST Bk Fac          CARE A2        170     Reaffirmed
A2Z Infra Engineering Ltd             ST Bk Fac          CARE D         12514.6 Issuer not
                                                                                cooperating
Celebration Apparel Ltd.              ST Bk Fac          CARE A1+ (SO)  10@     Reaffirmed
@backed by unconditional and irrevocable corporate guarantee provided by Raymond Ltd
Celebration Apparel Ltd.              ST Bk Fac          CARE A3        33.3    Reaffirmed
Dhariwal Infrastructure Ltd           ST Bk Fac          CARE A3        1000    Reaffirmed
Dnh Spinners Pvt Ltd                  ST Bk Fac          CARE A3+       917.5   Reaffirmed
Ess Kay Fincorp Pvt. Ltd.             CP Issues          CARE A3+       420     Reaffirmed
Ghv Hotel (India) Pvt Ltd             ST Bk Fac          CARE A4+       20      Reaffirmed
Hartex Rubber Pvt Ltd                 ST Bk Fac          CARE A2+       50      Assigned
Hmt Ltd                               ST Bk Fac          CARE A4        112.5   #
Jotindra Steel And Tubes Ltd          ST Bk Fac          CARE A4        500     Reaffirmed
Muktar Automobile Pvt Ltd             ST Bk Fac          CARE A4        30      Reaffirmed
Panchshil Infrastructure Holdings Pvt ST Bk Fac          CARE A3        20      Suspension
Ltd                                                                             revoked and
                                                                                assigned
Salasar Yarns Pvtd Ltd                ST Bk Fac          CARE A4        5       Issuer not
                                                                                cooperating
Silver Spark Apparel Ltd.             ST Bk Fac          CARE A1        250     Reaffirmed
Swipe Technologies Pvt Ltd            ST Bk Fac          CARE A4        105     Assigned
(enhanced from 6.50)
Welspun Energy Pvt Ltd                ST Bk Fac (Non-FB) CARE A1+       1000    Reaffirmed
    
MEDIUM TERM RATINGS:
-------------------
D. S. Kulkarni Developers Ltd         Fixed Deposits     CARE C (FD)    338.6   Revised from
                                                                                CARE BBB+ (FD)
LONG TERM RATINGS:
-------------------
A2Z Infra Engineering Ltd             LT Bk Fac          CARE D         10185.4 Issuer not
                                                                                cooperating
Aarohi Constructions Pvt Ltd          LT Bk Fac          CARE BB-       200     Issuer not
                                                                                cooperating
Al-Nasir Exports Pvt Ltd              LT Bk Fac          CARE BB        50      Revised from
                                                                                CARE BBB-
Amod Stampings Pvt Ltd                LT Bk Fac          CARE BB+       536.7   Revised from
                                                                                CARE BB+
Amod Stampings Pvt Ltd                LT/ ST Bk Fac      CARE BB+ /CARE 550     Revised from
                                                         A4+                    CARE BB+ /
                                                                                CARE A4+
Arun Excello Constructions Llp        LT Bk Fac          CARE BBB-      662.5   Reaffirmed
(reduced from 73.04)
Astron Packaging Ltd                  LT Bk Fac          CARE BBB+      495.9   Reaffirmed
Celebration Apparel Ltd.              LT Bk Fac          CARE BBB       114.6   Reaffirmed
D. S. Kulkarni Developers Ltd         Non- Convertible   CARE C         1115.9  Revised from
                                      Debentures                                CARE BBB+
D. S. Kulkarni Developers Ltd         LT Bk Fac          CARE D         7157.9  Revised from
                                                                                CARE BBB+
Dhariwal Infrastructure Ltd           LT Bk Fac          CARE BBB       38033.9 Reaffirmed
(Enhanced from 3,158.62crs)
Dnh Spinners Pvt Ltd                  LT Bk Fac          CARE BBB+      3420.5  Reaffirmed
(reduced from 363.25)
Ess Kay Fincorp Pvt. Ltd.             NCD issue          -              55      Withdrawal
Ess Kay Fincorp Pvt. Ltd.             LT Bk Fac          CARE BBB       3672.2  Reaffirmed
(enhanced from 340)
Ess Kay Fincorp Pvt. Ltd.             NCD issue          CARE BBB       266.7   Reaffirmed
Ess Kay Fincorp Pvt. Ltd.             NCD issue          CARE BBB       94.5    Reaffirmed
Ess Kay Fincorp Pvt. Ltd.             NCD issue          CARE BBB       200     Reaffirmed
                                      (unsecured)
Ess Kay Fincorp Pvt. Ltd.             NCD issue          CARE BBB       150     Assigned
                                      (unsecured)
Ess Kay Fincorp Pvt. Ltd.             NCD issue          CARE BBB       150     Assigned
Ess Kay Fincorp Pvt. Ltd.             LT Fac (Tier II)   CARE BBB-      200     Reaffirmed
Ess Kay Fincorp Pvt. Ltd.             NCD issue (Tier II)CARE BBB-      165     Reaffirmed
Ess Kay Fincorp Pvt. Ltd.             NCD issue (Tier II)CARE BBB-      200     Reaffirmed
Eveready Industries India Ltd.        LT Bk Fac          -              -       withdrawn
Flagship Developers Pvt Ltd           NCDs               CARE BBB-      2600    Issuer not
                                                                                cooperating
Ghv Hotel (India) Pvt Ltd             LT Bk Fac          CARE BB+       143.4   Reaffirmed
Grainspan Nutrientspvt Ltd            LT Bk Fac          CARE BBB-      782.5   Issuer not
                                                                                cooperating
Grd Trucks Pvt Ltd                    LT Bk Fac          CARE B+        45      Issuer not
                                                                                cooperating
Hartex Rubber Pvt Ltd                 LT Bk Fac          CARE A-        1380    Assigned
Hartex Rubber Pvt Ltd                 LT/ST Bk Fac       CARE A- /CARE  5       Assigned
                                                         A2+
Hermes Distillery Pvt Ltd             ST Bk Fac^         -              -       Withdrawn
^The rating of Short-term Bank facility of Rs. 25 crore has been withdrawn as there is no amount
against the said facility
Hermes Distillery Pvt Ltd             LT Bk Fac          CARE BB-       1000    Reaffirmed
(Enhanced from 75)
Hmt Ltd                               LT Bk Fac          CARE B-        445.6   #
Jotindra Steel And Tubes Ltd          Jotindra Steel And CARE BB-       500     Reaffirmed
                                      Tubes Ltd
Kapil Mohan & Associates Hydro PowerpvLT Bk Fac-         CARE BB-       503.9   Reaffirmed
Ltd
(Reduced from 53.29)
Kiran Global Chems Ltd                LT Bk Fac          CARE BBB-      962.1   Reaffirmed
(reduced from 101.26)
Kiran Global Chems Ltd                LT/ST Bk Fac       CARE BBB-      1085    Reaffirmed
                                                         /CARE A3
(reduced from 113)
Kurmi Energy Pvt Ltd                  LT Bk Fac          CARE D         372.2   Reaffirmed
(Reduced from 40.26)
Kurmi Energy Pvt Ltd                  LT/ ST Bk Fac      CARE D/CARE D  20.5    Reaffirmed
(Reduced from 2.50)
Kut Energy Pvt Ltd                    LT Bk Fac          CARE D         2571.4  Reaffirmed
Mahalaxmi Oil Mill                    LT Bk Fac          CARE B+        60.3    Issuer not
                                                                                cooperating
Miraj Products Pvt Ltd                LT Bk Fac          CARE A-        97.5    Reaffirmed
Muktar Automobile Pvt Ltd             LT Bk Fac          CARE B         98.8    Reaffirmed
Newtech Buildhome Pvt Ltd             LT Bk Fac          -              -       withdrawn
Panchshil Infrastructure Holdings Pvt LT Bk Fac          CARE BBB-      1131.5  Suspension
Ltd                                                                             revoked and
                                                                                assigned
Patel Bridge Nirman Pvt Ltd           LT Bk Fac          CARE A         1620.5  Reaffirmed
(reduced from Rs.170.00 crore)
Ridhi Sidhi Pulses                    LT Bk Fac          CARE B+        76.2    Issuer not
                                                                                cooperating
Salasar Polytex Pvtd Ltd              LT Bk Fac          CARE BB        528.6   Issuer not
                                                                                cooperating
Salasar Yarns Pvtd Ltd                LT Bk Fac          CARE B+        132.5   Issuer not
                                                                                cooperating
Salasar Yarns Pvtd Ltd                Long/ST Bk Fac     CARE B+/CARE A4100     Issuer not
                                                                                cooperating
Samhi Hotels Pvt Ltd                  LT Bk Fac          -              -       Withdrawn
Sanwariya Packaging Pvt Ltd           LT Bk Fac          CARE BB        19.6    Issuer not
                                                                                cooperating
Sanwariya Packaging Pvt Ltd           LT/ST Bk Fac       CARE BB /CARE  40      Issuer not
                                                         A4                     cooperating
Sheth Developers                      LT Bk Fac          CARE BB        100     Issuer not
                                                                                cooperating
Shree Cottex                          LT Bk Fac          CARE B+        50.3    Assigned
Shroff Oil Manufacturing Company Pvt  LT Bk Fac          CARE BB+       70      Issuer not
Ltd                                                                             cooperating
Silver Spark Apparel Ltd.             LT Bk Fac          CARE A         976.1   Reaffirmed
Srk Group                             LT Bk Fac          CARE BB        410.9   Reaffirmed
Ssipl Retail Ltd                      CP (CP)            -              -       Withdrawn
Susheel Yarns Pvt Ltd                 LT/ST Bk Fac       CARE BB- /CARE 95      Reaffirmed
                                                         A4
Swipe Technologies Pvt Ltd            LT Bk Fac          CARE BB-       35      Reaffirmed
Welspun Energy Pvt Ltd                LT Bk Fac          CARE A+        2007.8  Reaffirmed
Welspun Energy Pvt Ltd                LT Bk Fac (Non-FB) CARE A+        2000    Reaffirmed
Welspun Energy Pvt Ltd                LT Bk Fac (Non-FB) CARE A+        750     Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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