April 12, 2017 / 5:25 AM / 4 months ago

CARE ratings for Indian debt instruments-Apr 12

    Apr 12 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 11, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Abans Broking Services Pvt Ltd        ST Bk Fac          CARE A4        350     Revised from
                                                                                CARE A4+
Abans Commodities India Pvt Ltd       ST Bk Fac          CARE A4        200     Revised from
                                                                                CARE A4+
Ansapack Pvt Ltd                      ST Bk Fac          CARE A3        170     Reaffirmed
Aurionpro Solutions Ltd               ST Bk Fac          CARE A3        726.5   Reaffirmed
Babu Banarasi Das Northern India      ST Bk Fac          CARE A3+       100     Reaffirmed
Institute Of Technology
Bharat Serums And Vaccines Ltd        ST Bk Fac (Non-FB) CARE A1        340     Issuer not
                                                                                cooperating
Bhavani Cotspin Llp                   ST Bk Fac          CARE A4+       26.3    Reaffirmed
Byrnihat Coal Pvt Ltd                 ST Bk Fac          CARE A4        25      Reaffirmed
Capital First Home Finance Ltd        CP (CP) issue      CARE A1+       2000    Reaffirmed
(enhanced from 100)
Coimbatore Integrated Waste ManagementST Bk Fac          -              -       Withdrawn
Co. Pvt. Ltd
Cosmos Water Solutions Pvt. Ltd.      ST Bk Fac          CARE A4        63.7    Assigned
Credo Brands Marketing Pvt. Ltd       ST Bk Fac (Non-FB) CARE A1+       255     Reaffirmed
(reduced from 40)
Dwarkadhish Cotspin Pvt Ltd           ST Bk Fac          CARE A4+       4.4     Revised from
                                                                                CARE A4
Empee Distilleries Ltd                ST Bk Fac          CARE D         324.5   Reaffirmed
Glassco Laboratory Equipments Pvt Ltd ST Bk Fac          CARE A2        80      Reaffirmed
Hari Krishna Exports Pvt Ltd          ST Bk Fac (NonFB)  CARE A2+       459.9   Reaffirmed
Ineos Styrolution India Ltd           CP (CP) issue      CARE A1+       1000    Assigned
Jindal (India) Ltd.                   ST Bk Fac          CARE A3+       4900    Reaffirmed
Kashvi Power & Steel Pvt Ltd          ST Bk Fac          CARE A4        150     Issuer not
                                                                                cooperating
Kena Alloys Pvt Ltd                   ST Bk Fac          CARE A4        4       Assigned
Ma Enterprise                         ST Bk Fac          CARE A3 (SO)   380     Assigned
Neuland Laboratories Ltd              ST Bk Fac          CARE A3+       1140    Reaffirmed
Nimbus Pipes Ltd                      ST Bk Fac          CARE A4        65      Reaffirmed
Paresh S. Patel                       ST Bk Fac          CARE A4        90      Reaffirmed
(enhanced from 7)
Patiala Cotspin Ltd                   ST Bk Fac          CARE A3        14.2    Reaffirmed
Prag Electricals Pvt Ltd              ST Bk Fac          CARE A4        100     Assigned
R. S. Infra Transmission Ltd.         ST Bk Fac          CARE A4        350     Reaffirmed
Rallifan Ltd.                         ST Bk Fac          CARE A4        30      Reaffirmed
Safetix Protective Equipments Pvt Ltd ST Bk Fac          CARE A3        50      Issuer not
                                                                                cooperating
Sanghvi Forging & Engineering Ltd     ST Bk Fac          CARE D         10.5    Issuer not
                                                                                cooperating
Senthilkumar Textile Mills Pvt Ltd    ST Bk Fac          CARE A4        40.9    Reaffirmed
Shera Metal Pvt Ltd                   ST Bk Fac          CARE A3        130     Reaffirmed
(enhanced from 8)
Shere Bengal Food Pvt Ltd             ST Bk Fac          CARE A4        2.5     Reaffirmed
Shyamsree Food Processing Pvt Ltd     ST Bk Fac          CARE A2        4.9     Assigned
Venture Steel Pvt Ltd                 ST Bk Fac          CARE A4        32      Issuer not
                                                                                cooperating
West Coast Paper Mills Ltd            ST Bk Fac          CARE A1        2350    Revised from
                                      (Non-Fund Based)                          CARE A3+
Western India Metal Processors Ltd    ST Bk Fac          CARE A4        230     Revised from
                                                                                CARE A3
LONG TERM RATINGS:
-------------------
Abans Broking Services Pvt Ltd        LT Bk Fac          CARE BB        20      Revised from
                                                                                CARE BB+
Abans Finance Pvt Ltd                 LT Bk Fac          CARE BB        50      Revised from
                                                                                CARE BB+
Abans Jewels Pvt Ltd                  Bk Fac (Fund Based CARE BB        80      Revised from
                                      and Non Fund Based)                       CARE BB+ /
                                                                                CARE A4+
Agrasen Engineering Industries Pvt LtdLT Bk Fac          CARE BBB+      60      Reaffirmed
Anjani Promoters                      LT Bk Fac          -              -       Withdrawal
Ansapack Pvt Ltd                      TL                 CARE BBB-      56.8    Revised from
                                                                                CARE BBB
Ansapack Pvt Ltd                      LT Bk Fac          CARE BBB-      400     Revised from
                                                                                CARE BBB
Asian Hotels (North) Ltd              LT Fac             CARE BB        2550    Revised from
                                                                                CARE BBB-
(increased from 250 )
Aurionpro Solutions Ltd               LT Bk Fac          CARE BBB       255.9   Revised from
                                                                                CARE BBB-
Babu Banarasi Das Northern India      LT Bk Fac          CARE BBB+      -       Withdrawn
Institute Of Technology
Bharat Serums And Vaccines Ltd        LT Bk Fac (TL)     CARE A         467.1   Issuer not
                                                                                cooperating
Bharat Serums And Vaccines Ltd        LT Bk Fac (FB)     CARE A         775     Issuer not
                                                                                cooperating
Bharat Serums And Vaccines Ltd        LT/ST Bk Fac (FB   CARE A /CARE A1550     Issuer not
                                      /Non-FB)                                  cooperating
Bhavani Cotspin Llp                   LT Bk Fac          CARE BB+       280.1   Reaffirmed
Bhavani Cotspin Llp                   LT/ Shortterm Bk   CARE BB+ /CARE 60      Reaffirmed
                                      Fac                A4+
Byrnihat Coal Pvt Ltd                 LT Bk Fac          CARE B         45      Reaffirmed
Central Bank Of India                 Upper Tier II BondsCARE A         22850   Revised from
                                                                                CARE A+
Central Bank Of India                 Lower Tier II BondsCARE A+        6591    Revised from
                                                                                CARE AA-
Coimbatore Integrated Waste ManagementLT Bk Fac          -              -       Withdrawn
Co. Pvt. Ltd
Coropex                               LT/ST Bk Fac       CARE BB+       100     Revised from
                                                                                CARE BB
Cosmos Water Solutions Pvt. Ltd.      LT Bk Fac          CARE BB-       30      Assigned
Credo Brands Marketing Pvt. Ltd       LT Bk Fac (FB)     CARE AA-       375     Reaffirmed
(increased from 23)
Csl Finance Ltd                       LT Bk Fac          CARE BBB       600     Reaffirmed
[Enhanced from Rs.10 crore]
Dighi Port Ltd                        LT Bk Fac – TL     CARE D         7770.9  Reaffirmed
Dwarkadhish Cotspin Pvt Ltd           LT Bk Fac          CARE BB+       363.7   Revised from
                                                                                CARE BB
Dwarkadhish Cotspin Pvt Ltd           Long/ST Bk Fac     CARE BB+ /CARE 170     Revised from
                                                         A4+                    CARE BB/ CARE
                                                                                A4
Empee Distilleries Ltd                NCD (NCD) issue    CARE B         475     Reaffirmed
Empee Distilleries Ltd                LT Bk Fac          CARE D         732.8   Reaffirmed
Essar Vizag Terminal Ltd              LT Bk Fac          CARE BBB-      6740    Revised from
                                                                                CARE BBB
Essel Bagalkot Solar Energy Pvt Ltd   LT Bk Fac          CARE BBB       322.9   Reaffirmed
Essel Gulbarga Solar Power Pvt Ltd    LT Bk Fac          CARE BBB       217.9   Reaffirmed
Fourth Dimension Solutions Ltd        LT /ST Bk Fac      CARE BBB-      1000    Assigned
                                                         /CARE A3
Gayatri Projects Ltd                  LT Bk Fac          CARE BBB-      21088.4 Revised from
                                                                                CARE BB-
Gayatri Projects Ltd                  LT/Shortterm Bk FacCARE BBB-      39000   Revised from
                                                         /CARE A3               CARE BB- /
                                                                                CARE A4
Glassco Laboratory Equipments Pvt Ltd LT Bk Fac          CARE BBB+      5       Assigned
Globus Steel And Power Pvt Ltd        LT Bk Fac          CARE BBB       1240    Issuer not
                                                                                cooperating
Godawari Green Energy Ltd             LT Bk Fac (BG)     -              -       Withdrawn
Godawari Green Energy Ltd             LT Bk Fac (TL)     CARE BBB-      5172.2  Revised from
                                                                                CARE BBB
(reduced from 555.72)
Godawari Green Energy Ltd             LT Bk Fac (CC)     CARE BBB-      200     Assigned
Hari Krishna Exports Pvt Ltd          LT Bk Fac          CARE A         15889   Reaffirmed
                                      (Fundbased)
Hari Krishna Exports Pvt Ltd          Proposed LT Bk Fac CARE A         1000    Reaffirmed
                                      (FB)
Hari Krishna Exports Pvt Ltd          LT Bk Fac (TL)     CARE A         210.3   Reaffirmed
Hhp Broadcasting Services Pvt Ltd     LT Bk Fac - TL     -              -       Withdrawn
Housing Development And Finance       LT Fixed Income    CARE MLD AA    1500    Reaffirmed
Corporation Plc                       Bonds Issue
Humble Hospitality Punjab Pvt Ltd     LT Bk Fac          CARE D         68.5    Reaffirmed
Ineos Styrolution India Ltd           LT/ST Bk Fac       CARE AA+       1774    Reaffirmed
                                                         /CARE A1+
J.S.K. Hotels Pvt Ltd                 LT Bk Fac          CARE BBB-      54.2    Reaffirmed
Jindal (India) Ltd.                   LT Bk Fac          CARE BBB       3857.8  Reaffirmed
Kashvi Power & Steel Pvt Ltd          LT Bk Fac          CARE BB -      174.1   Issuer not
                                                                                cooperating
Kena Alloys Pvt Ltd                   LT Bk Fac          CARE B+        47.5    Assigned
Khedut Feeds And Foods Pvt Ltd        LT Bk Fac          CARE B+        54.1    Assigned
Khedut Feeds And Foods Pvt Ltd        LT/ST Bk Fac       CARE B+ /CARE  138     Assigned
                                                         A4
Kogta Financial (India) Ltd.          LT Bk Fac          CARE BBB-      1100    Reaffirmed
Kogta Financial (India) Ltd.          NCD Issue          CARE BBB-      150     Reaffirmed
Kogta Financial (India) Ltd.          Proposed NCD Issue CARE BBB-      400     Assigned
Krishna Hydrocarbons Pvt. Ltd.        LT Bk Fac          CARE BB        99      Reaffirmed
(Enhanced from 6.00)
Ma Enterprise                         LT Bk Fac (TL)     -              -       Withdrawn
Ma Enterprise                         LT Bk Fac          CARE BBB- (SO)*10      Reaffirmed
(reduced from 8.60)
Made Easy Education Pvt Ltd           LT Bk Fac          CARE A-        455     Issuer not
                                                                                cooperating
Minakshi Cotton Pvt Ltd               LT Bk Fac          CARE B+        192.5   Reaffirmed
(reduced from 19.50)
Neuland Laboratories Ltd              LT Bk Fac          CARE BBB+      2400.8  Revised from
                                                                                CARE BBB
(reduced from 255.27)
Nimbus Pipes Ltd                      LT Bk Fac          CARE B-        269     Reaffirmed
(enhanced from 28.28)
Nimbus Pipes Ltd                      LT /ST Bk Fac      CARE B- /CARE  200     Reaffirmed
                                                         A4                     /Assigned
Paresh S. Patel                       LT Bk Fac          CARE BB-       10      Revised from
                                                                                CARE BB
Patiala Cotspin Ltd                   LT Bk Fac          CARE BBB-      287.5   Reaffirmed
(Reduced from Rs.29.34 crore)
Pnc Bareilly Nainital Highways Pvt LtdLT Bk Fac          CARE BBB       4578.3  Reaffirmed
(reduced from 460)
Prag Electricals Pvt Ltd              LT Bk Fac          CARE BB        50      Assigned
R. S. Infra Transmission Ltd.         LT Bk Fac          CARE BB        25      Reaffirmed
R. S. Infra Transmission Ltd.         LT/ ST Bk Fac      CARE BB /CARE  180     Reaffirmed
                                                         A4
Rallifan Ltd.                         LT Bk Fac          CARE BB-       60      Reaffirmed
Rbl Bank Ltd                          Tier II Bonds      CARE AA-       1000    Reaffirmed
                                      (Basel III)
Rural Electrification Corporation Ltd Market Borrowing   CARE AAA /CARE 550000* Assigned
                                      Programme -FY18    A1+
* Including short term market borrowing programme of Rs.5000 crore as sublimit of total MBP for
FY18
Sadhana Suitings Pvt Ltd              Long- term Bk Fac  CARE B+        82.5    Issuer not
                                                                                cooperating
Safetix Protective Equipments Pvt Ltd LT Bk Fac          CARE BBB       100     Issuer not
                                                                                cooperating
Sanghvi Forging & Engineering Ltd     LT Bk Fac          CARE D         1234.9  Issuer not
                                                                                cooperating
Sanghvi Forging & Engineering Ltd     LT/ST Bk Fac       CARE D         320     Issuer not
                                                                                cooperating
Scion Exports Pvt Ltd                 LT Bk Fac          CARE BBB       90      Reaffirmed
[Enhanced from 3.00]
Senthilkumar Textile Mills Pvt Ltd    LT Bk Fac          CARE BB        282     Reaffirmed
(reduced from 30.98)
Shera Metal Pvt Ltd                   LT Bk Fac          CARE BBB-      254.8   Reaffirmed
(enhanced from 19.65)
Shera Metal Pvt Ltd                   LT/ST Bk Fac       CARE BBB-      2.5     Reaffirmed
                                                         /CARE A3
Shere Bengal Food Pvt Ltd             LT Bk Fac          CARE B+        50.9    Revised from
                                                                                CARE B
Sheth Creators & Constructors Pvt. LtdNon- Convertible   CARE BB        1250    Issuer not
                                      Debentures                                cooperating
Shreekant Agro Industries Pvt Public  LT Bk Fac(Fund     -              -       Withdrawn
Ltd                                   Based)- Proposed
Shreeya Peanuts Pvt Ltd               LT Bk Fac          CARE B+        54.6    Assigned
Shreeya Peanuts Pvt Ltd               LT/ST Bk Fac       CARE B+ /CARE  150     Assigned
                                                         A4
Shyamsree Food Processing Pvt Ltd     LT Bk Fac          CARE BBB+      347.4   Revised from
                                                                                CARE BBB
(reduced from 37.75)
Sml Finance Ltd                       LT Bk Fac          CARE BB        1000    Assigned
Sri Dhandayuthapani Spinners Pvt Ltd  LT Bk Fac          CARE B         146     Reaffirmed
(enhanced from 14.12)
Sri Panchamukhi Nutrients Pvt Ltd     LT Bk Fac          CARE B         150     Reaffirmed
Sri Varadaraja Textiles Pvt Ltd       LT Bk Fac          CARE BB        119.3   Reaffirmed
(reduced from 11.94)
Take Solutions Ltd                    LT Bk Fac          -              -       Withdrawn
                                      (Proposed)
Talettutayi Solar Projects Pvt Ltd    LT Bk Fac          CARE BBB       550     Assigned
Tirupati Steel Enterprises            LT Bk Facility     CARE BB-       200     Reaffirmed
Venture Steel Pvt Ltd                 LT Bk Fac          CARE B         32.1    Issuer not
                                                                                cooperating
West Coast Paper Mills Ltd            LT Bk Fac (TL)     -              -       Withdrawn
(reduced from 96.61)
West Coast Paper Mills Ltd            LT Bk Fac (TL)     CARE A         437.5   Revised from
                                                                                CARE BBB+
(reduced from 75)
West Coast Paper Mills Ltd            LT Bk Fac (Fund    CARE A         2900    Revised from
                                      Based)                                    CARE BBB+
Western India Metal Processors Ltd    LT Bk Fac          CARE BB        700     Revised from
                                                                                CARE BBB-
--------------------------------------------------------------------------------------------
$: 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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