April 18, 2017 / 7:53 AM / 3 months ago

CARE ratings for Indian debt instruments-Apr 18

31 Min Read

    Apr 18 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 17, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Amarnath Aggarwal Investment Pvt. Ltd.ST Bk Fac          CARE A4        90      Issuer not
                                                                                Cooperating
Amit Metaliks Ltd                     ST Bk Fac          CARE A3        105     Reaffirmed
Anup Malleables Ltd                   ST Bk Fac          CARE A4+       32      Revised from
                                                                                CARE A4
Apm Industries Ltd                    ST Bk Fac          CARE A2        22.5    Reaffirmed
Arcadia Shipping Ltd                  ST Bk Fac          CARE A4        100     Reaffirmed
Arido Ceramic                         ST Bk Fac          CARE A4+       8.4     Reaffirmed
Arihant Constructions                 ST Bk Fac          CARE A4        30      Issuer Not
                                                                                Cooperating
Associated Polytech Industries Pvt LtdST Bk Fac          CARE A4        13.5    Reaffirmed
Avon Steel Industries Pvt Ltd         ST Bk Fac          CARE A2        704     Reaffirmed
Bhandari Export Industries Ltd        ST Bk Fac          CARE A4        80      issuer not
                                                                                Cooperating
Bhilosa Industries Pvt Ltd            ST Bk Fac          CARE A1+       7900    Reaffirmed
Bonanza Commodity Brokers Pvt Ltd     ST Bk Fac          CARE A2        750     Reaffirmed
Bonanza Portfolio Ltd                 ST Bk Fac          CARE A2        5000    Reaffirmed
Brandavan Food Products               ST Bk Fac          CARE A4+       220     Assigned
Celebi Nas Airport Services India Pvt ST Bk Fac (NonFB - CARE A2+       700     Reaffirmed
Ltd                                   BG/ LC)
(enhanced from 5 CR)
Cochin Shipyard Ltd                   ST Bk Fac          CARE A1+       6000    Reaffirmed
Condor Footwear (India) Ltd           ST Bk Fac          CARE A2+       20      Reaffirmed
Distribution Logistics Pvt Ltd        ST Bk Fac          CARE D         50      Issuer Not
                                                                                Cooperating
Eastman Reclamations                  ST Bk Fac          CARE A4        35.5    Issuer Not
                                                                                Cooperating
Ghasiram Gokalchand Ship Breaking YardST Bk Fac          CARE A4+       50      Revised from
                                                                                CARE A4
Godavari Biorefineries Ltd            ST Bk Fac          CARE A3        1430    Reaffirmed
                                      (Non-Fund Based)
H S Sandhu Builders Pvt Ltd           ST Bk Fac          CARE A4        62.5    issuer not
                                                                                Cooperating
Hind Charitable Trust                 ST Bk Fac          CARE A3        31.5    issuer not
                                                                                Cooperating
Indian Yarn Ltd                       ST Bk Fac          CARE D         33.6    Issuer Not
                                                                                Cooperating
Kohinoor India Pvt Ltd                ST Bk Fac          CARE A4        50      Issuer Not
                                                                                Cooperating
Kohinoor Reclamations                 ST Bk Fac          CARE A4        35.4    Issuer Not
                                                                                Cooperating
L&T Finance Ltd. (Erstwhile Family    CP (CP) issue      CARE A1+       135000  Reaffirmed
Credit Ltd)
Lahoty Buildcon Ltd                   ST Bk Fac          CARE A4        15      Revised from
                                                                                CARE A4+
Latin Manharlal Securities Pvt Ltd    ST Bk Fac          CARE A4+       350     Reaffirmed
(Reduced from Rs 50 crore)
Laxmi Engineering Industries (Bhopal) ST Bk Fac          CARE A4        100     Isuer not
Pvt Ltd                                                                         Cooperating
Maini Constructions Equipments Pvt LtdST Bk Fac          CARE A4        19      Assigned
Manglam Yarn Agencies                 ST Bk Fac          CARE A4+       13.2    Assigned
Nahar Poly Films Ltd                  ST Bk Fac          CARE A2+       210     Reaffirmed
Ostro Urja Wind Pvt Ltd               ST Bk Fac          CARE A3+       330     Assigned
Orchid Pharma Ltd                     ST Bk Fac          CARE D         4985    Revised from
                                                                                CARE A4
Pacifica Hotels (Ahmedabad Project)   ST Bk Fac          CARE A4+       7.5     Assigned
Ltd
Pearl Beverages Ltd                   ST Bk Fac          CARE A4        115     Reaffirmed
(reduced from Rs. 12.00 crore)
Pearl Bottling Pvt Ltd                ST Bk Fac          CARE A4        1.8     Reaffirmed
(reduced from Rs. 0.30 crore)
Petro Carbon & Chemicals Pvt Ltd      ST Bk Fac          CARE A3        460     Reaffirmed
(Enhanced from 40.00 CR)
R.K. Associates And Hoteliers Pvt Ltd ST Bk Fac          CARE A4+       250     Assigned
Radiance Realty Developers India Ltd  ST Bk Fac          CARE A3+       300     Reaffirmed
Rohit And Company                     ST Bk Fac          CARE A3        150     Reaffirmed
Roop Caterers                         ST Bk Fac          CARE A4+       92.5    Assigned
Samman Lal Sher Singh Papers Pvt Ltd  ST Bk Fac          CARE A4+       50      Isuer not
                                                                                Cooperating
Sangrur Autos (Malerkotla)            ST Bk Fac          CARE A4        5       Assigned
Satyam Caterers Pvt Ltd               ST Bk Fac          CARE A4+       220     Assigned
Savitra Tiles Pvt Ltd                 ST Bk Fac          CARE A4        15.5    Isuer not
                                                                                Cooperating
Screen-O-Tex India Pvt Ltd            ST Bk Fac          CARE A4        62.9    Reaffirmed
Shakti Motors Pvt. Ltd.               ST Bk Fac          CARE A3        32.5    Reaffirmed
Shiv Hari Plywood Ltd                 ST Bk Fac          CARE A4        17      Isuer not
                                                                                Cooperating
Shiva Industrial Security Agency      ST Bk Fac          CARE A4        10      Reaffirmed
(Gujarat) Pvt Ltd
Shree Krishnanand Infrastructure And  ST Bk Fac          CARE A4        80      Isuer not
Developers Pvt Ltd                                                              Cooperating
Shri Mahalaxmi Industries             ST Bk Fac          CARE A4        140     Issuer not
                                                                                Cooperating
Sify Technologies Ltd                 ST Bk Fac          CARE A1        630     Reaffirmed
Sify Technologies Ltd                 Proposed CP Issue  CARE A1        250     Reaffirmed
Sperry International Pvt Ltd          ST Bk Fac          CARE A4(SO)*   168     issuer not
                                                                                Cooperating
*The rating are based on the credit enhancement in the form of unconditional and irrevocable
corporate guarantee from Sperry Plast Ltd (rated CARE B+/CARE A, issuer not cooperating’).
Sperry Plast Ltd                      ST Bk Fac          CARE A4        265     issuer not
                                                                                Cooperating
Sri Venkata Vamsi Krishna Traders     ST Bk Fac          CARE A4        31.2    Assigned
Sundaram Auto Components Ltd          ST Bk Fac          CARE A1+       500     Reaffirmed
(enhanced from 40.00 CR)
T.C. Spinners Pvt Ltd                 ST Bk Fac          CARE A4        100     issuer not
                                                                                Cooperating
Talbros Automotives Components Ltd    ST Bk Fac          CARE A2        450     Assigned
Texcel International Pvt Ltd          ST Bk Fac          CARE A4+       30      Assigned
Unipearl Alloys                       ST Bk Fac          CARE A4        24.5    Issuer Not
                                                                                Cooperating
Vishakha Solar Films Pvt Ltd          ST Bk Fac          CARE A4        5.8     Assigned
Vision Motors Pvt Ltd                 ST Bk Fac          CARE A4        340     Reaffirmed



MEDIUM TERM RATINGS:
-------------------
Godavari Biorefineries Ltd            Fixed Deposit      CARE BBB (FD)  -       Reaffirmed
                                      programme



LONG TERM RATINGS:
-------------------
Amit Metaliks Ltd                     LT Bk Fac          CARE BBB-      1145.9  Reaffirmed
(reduced from 117.94 CR)
Anup Malleables Ltd                   LT Bk Fac          CARE BB+       127.9   Revised from
                                                                                CARE BB
Apeksha Infraprojects Pvt Ltd         LT Bk Fac          CARE BB        280     Revised from
                                                                                CARE BB
Apm Industries Ltd                    LT Bk Fac          CARE BBB+      321.3   Reaffirmed
Arcadia Shipping Ltd                  LT Bk Fac          CARE BB-       1650    Revised from
                                                                                CARE BB
Arido Ceramic                         LT Bk Fac          CARE BB        68      Reaffirmed
(Reduced from 8.16 CR)
Arihant Constructions                 L&T Housing        CARE BB+       75      Issuer Not
                                      Finance Ltd.                              Cooperating
Associated Polytech Industries Pvt LtdLT Bk Fac          CARE BB        45      Reaffirmed
Avinash Ramkrishna Developers Pvt Ltd LT Bk Fac          CARE BB+       150     Assigned
Avon Steel Industries Pvt Ltd         LT Bk Fac          CARE BBB+      671     Reaffirmed
Bhandari Export Industries Ltd        LT Bk Fac          CARE BB        337     issuer not
                                                                                Cooperating
Bharat Financial Inclusion Ltd        Series A PTC       Provisional
                                                         CARE AA        2044.3  Assigned
Bharat Hi-Tech (Cements) Pvt Ltd      LT Bk Fac          CARE BB-       177.6   Reaffirmed
Bharuch Dahej Railway Co. Ltd         LT Bk Fac          CARE A-        1888.2  Reaffirmed
(reduced from 204.92 CR)
Bhilosa Industries Pvt Ltd            LT Bk Fac          CARE A+        24641.4 Reaffirmed
(enhanced from Rs.1405.14)
Brandavan Food Products               LT Bk Fac          CARE BB+       880     Assigned
Bright Enterprises Pvt Ltd            LT Bk Fac          CARE BBB+      2550    Revised from
                                                                                CARE BBB
Celebi Nas Airport Services India Pvt LT Bk Fac          CARE A-        846.5   Reaffirmed
Ltd                                   (Fundbased -TL)
Celebi Nas Airport Services India Pvt LT Bk Fac          CARE A-        100     Reaffirmed
Ltd                                   (Fundbased - CC)
Cochin Shipyard Ltd                   LT Bk Fac          CARE AA+       8000    Reaffirmed
Cochin Shipyard Ltd                   LT Bond Issue-I    CARE AA+       1000    Reaffirmed
Cochin Shipyard Ltd                   LT Bond Issue-II   CARE AA+       1500    Reaffirmed
Cochin Shipyard Ltd                   LT/ ST Bk Fac      CARE AA+ /CARE 19000   Reaffirmed
                                                         A1+
Condor Footwear (India) Ltd           LT Bk Fac/ ST Bk   CARE A-;       150     Reaffirmed
                                      Fac                Stable/CARE A2+
Condor Footwear Ltd                   LT Bk Fac/ ST Bk   CARE A- /CARE  120     Reaffirmed
                                      Fac                A2+
D.Navinchandra Jewels                 LT Bk Fac          CARE BBB       250     Reaffirmed
Damodar Valley Corporation            LT Bond Issue      -              -       Withdrawn
Distribution Logistics Pvt Ltd        LT Bk Fac          CARE D         7210.5  Issuer Not
                                                                                Cooperating
Eastman Reclamations                  LT Bk Fac          CARE B+        76      Issuer Not
                                                                                Cooperating
Ellenabad Steels Pvt Ltd              LT Bk Fac          CARE D         95      Revised from
                                                                                CARE BB-
Gammon India Ltd                      LT FB Fac – CC     CARE D         9490.5  Reaffirmed
Gammon India Ltd                      Long / ST          CARE D         90927.8 Reaffirmed
                                      Non-fundbased Fac
                                      – LOC
Gammon India Ltd                      Non - Convertible  CARE D         3240    Reaffirmed
                                      Debenture
Ghasiram Gokalchand Ship Breaking YardLT Bk Fac          CARE BB+       600@    Revised from
                                                                                CARE BB
@Sublimit of LC limit of Rs. 100 crore
Ghasiram Gokalchand Ship Breaking YardLT/ ST Bk Fac      CARE BB+ /CARE 1000    Revised from
                                                         A4+                    CARE BB /
                                                                                CARE A4
Goan Real Estate And Construction Pvt.LT Bk Fac          CARE D         1000    Revised from
Ltd.                                                                            CARE BB-
Godavari Biorefineries Ltd            LT Bk Fac (TL)     CARE BBB-      1503.1  Reaffirmed
Godavari Biorefineries Ltd            LT Bk Fac (Fund    CARE BBB-      4000    Reaffirmed
                                      Based)
Godavari Biorefineries Ltd            NCD issue          CARE BBB-      650     Reaffirmed
H S Sandhu Builders Pvt Ltd           LT Bk Fac          CARE BB-       62.5    issuer not
                                                                                Cooperating
Hanuman Cotton Industries             LT Bk Fac          CARE B+        80.1    Issuer Not
                                                                                Cooperating
Hind Charitable Trust                 LT Bk Fac          CARE BBB-      238.5   issuer not
                                                                                Cooperating
Ikf Finance Ltd                       Series A1 PTC      Provisional
                                                         CARE A-        336.1   Assigned
Ikf Finance Ltd                       Series A2 PTC      Provisional
                                                         CARE BBB+      3.7     Assigned
Indian Yarn Ltd                       LT Bk Fac          CARE D         672.5   Issuer Not
                                                                                Cooperating
Jagdambay Exports                     LT Bk Fac          CARE BB-       105.7   Issuer Not
                                                                                Cooperating
Jupiter Sbl Ifmr Capital 2017         Series A1 PTC      Provisional
                                                         CARE BBB +     92.3    Assigned
Jupiter Sbl Ifmr Capital 2017         Series A2 PTC      Provisional 
                                                         CARE BBB +     7.5     Assigned
Jva Management Advisors Pvt. Ltd.     Secured NCD        -              -       Withdrawn
Kamarajar Port Ltd                    TFBs issue-I       CARE AA        946.5   Reaffirmed
Kamarajar Port Ltd                    TFBs issue-II      CARE AA        3654.7  Reaffirmed
Kavya Cold Storage                    LT Bk Fac          CARE B+        52.8    Issuer Not
                                                                                Cooperating
Kohinoor India Pvt Ltd                LT Bk Fac          CARE B         100     Issuer Not
                                                                                Cooperating
Kohinoor Reclamations                 LT Bk Fac          CARE B+;       77.6    Issuer Not
                                                                                Cooperating
L&T Finance Ltd. (Erstwhile Family    Perpetual Debt     CARE AA        3500    Reaffirmed
Credit Ltd)
L&T Finance Ltd. (Erstwhile Family    Perpetual Debt*    CARE AA        1500    Assigned
Credit Ltd)
*erstwhile L&T Finance Ltd and L&T Fincorp Ltd
L&T Finance Ltd. (Erstwhile Family    NCD                CARE AA+       65000   Reaffirmed
Credit Ltd)
L&T Finance Ltd. (Erstwhile Family    NCD*               CARE AA+       36250   Assigned
Credit Ltd)
*erstwhile L&T Finance Ltd and L&T Fincorp Ltd
L&T Finance Ltd. (Erstwhile Family    NCD (Public Issue) CARE AA+       6000    Reaffirmed
Credit Ltd)
L&T Finance Ltd. (Erstwhile Family    Subordinated Debt  CARE AA+       6750    Reaffirmed
Credit Ltd)
L&T Finance Ltd. (Erstwhile Family    Subordinated Debt* CARE AA+       6250    Assigned
Credit Ltd)
*erstwhile L&T Finance Ltd and L&T Fincorp Ltd
L&T Finance Ltd. (Erstwhile Family    LT Bk Fac          CARE AA+       23000   Reaffirmed
Credit Ltd)
L&T Finance Ltd. (Erstwhile Family    LT Bk Fac *        CARE AA+       116500  Assigned
Credit Ltd)
*erstwhile L&T Finance Ltd and L&T Fincorp Ltd
L&T Finance Ltd. (Erstwhile Family    LT Bk Fac *        CARE AA+       3500    Assigned
Credit Ltd)
*erstwhile L&T Finance Ltd and L&T Fincorp Ltd
L&T Financial Consultants Ltd         NCDs (NCDs)        -              -       Withdrawn
L&T Financial Consultants Ltd         Proposed NCD       -              -       Withdrawn
L&T Housing Finance Ltd.              LT Bk Fac          CARE AA+       29000   Reaffirmed
L&T Housing Finance Ltd.              NCDs               CARE AA+       42000   Reaffirmed
Lahoty Buildcon Ltd                   LT/ST Bk Fac       CARE BB /CARE  480     Revised from
                                                         A4                     CARE BB+ /
                                                                                CARE A4+
Latin Manharlal Securities Pvt Ltd    LT Bk Fac          CARE BB        170     Reaffirmed
(Reduced from Rs 22 crore)
Laxmi Engineering Industries (Bhopal) LT Bk Fac          CARE BB        282.5   issuer not
Pvt Ltd                                                                         Cooperating
Mahamaya Infrastructure Pvt Ltd       LT Bk Fac          CARE BB        700     Reaffirmed
Maini Constructions Equipments Pvt LtdLT Bk Fac          CARE BB-       90      Assigned
Manglam Yarn Agencies                 LT/ ST Bk Fac      CARE BB /CARE  250     Assigned
                                                         A4+
Metropolitan Infra Housing Pvt Ltd    Non - Convertible  CARE D         1750    Reaffirmed
                                      Debenture
Micro Motion India Pvt Ltd            LT Bk Fac          CARE BB-       114.8   Issuer Not
                                                                                Cooperating
Nahar Poly Films Ltd                  LT Bk Fac          CARE A-        723.6   Reaffirmed
Navayuga Udupi Tollway Pvt Ltd        LT Bk Fac          CARE BB+       6123.6  Reaffirmed
Orchid Pharma Ltd                     LT Bk Fac          CARE D         26874.9 Revised from
                                                                                CARE B-
Oriental Pathways (Indore) Pvt Ltd    LT Bk Fac (Senior  CARE A-        1567.8  Reaffirmed
                                      Debt)
Oriental Pathways (Indore) Pvt Ltd    NCD (NCD)          CARE A-        2000    Reaffirmed
Oriental Pathways (Indore) Pvt Ltd    LT Bk Fac          CARE BBB+      1400    Reaffirmed
                                      (Subordinated Debt)
Ostro Urja Wind Pvt Ltd               LT Bk Fac          CARE BBB       3999.6  Reaffirmed
Pacifica Hotels (Ahmedabad Project) PvLT Bk Fac          CARE BB+       176.7   Assigned
Ltd
Parth Natural Stones Pvt Ltd          LT Bk Fac          CARE B+        78.3    Assigned
Pearl Beverages Ltd                   LT Bk Fac          CARE BB-       433     Reaffirmed
(reduced from Rs.50.50 crore)
Pearl Bottling Pvt Ltd                LT Bk Fac          CARE BB-       230.1   Reaffirmed
(reduced from Rs.24.58 crore)
Pearl Drinks Ltd                      LT Bk Fac          CARE BB-       60      Reaffirmed
(reduced from Rs.6.74 crore)
Petro Carbon & Chemicals Pvt Ltd      LT Bk Fac          CARE BBB-      200     Reaffirmed
Pnp Maritime Services Pvt Ltd         LT Bk Fac          CARE AA        1412.5  Reaffirmed
Pnp Maritime Services Pvt Ltd         LT Bk Fac          CARE BBB+      772.1   Reaffirmed
Popular Autoworks Pvt Ltd             LT Bk Fac          CARE BB        98.3    Reaffirmed
Popular Autoworks Pvt Ltd             Long/ST Bk Fac     CARE BB / A4   364.4   Reaffirmed
Pruthi Hospital                       LT Bk Fac          CARE BB-       260.9   Issuer Not
                                                                                Cooperating
R V Enterprise                        LT Bk Fac          CARE B         55.8    Issuer Not
                                                                                Cooperating
R. S. Rice Mills                      LT Bk Fac          CARE BB+       340     issuer not
                                                                                Cooperating
R.K. Associates And Hoteliers Pvt Ltd LT Bk Fac          CARE BB+       911.8   Assigned
R.K. Hoteliers & Developers Pvt Ltd   LT Bk Fac          CARE BB+       582.4   Assigned
Radiance Realty Developers India Ltd  LT Bk Fac          CARE BBB+      2250    Reaffirmed
Ritu Cargo Pvt Ltd                    LT Bk Fac          CARE B+        125.9   Reaffirmed
Rohit And Company                     LT Bk Fac          CARE BBB-      900     Reaffirmed
Roop Caterers                         LT Bk Fac          CARE BB+       180     Assigned
Samman Lal Sher Singh Papers Pvt Ltd  LT Bk Fac          CARE BB        215     issuer not
                                                                                Cooperating
Sangrur Autos (Malerkotla)            LT Bk Fac          CARE B+        50      Assigned
Sant Autowheels Pvt Ltd               LT Bk Fac          CARE B+        58      Issuer Not
                                                                                Cooperating
Sapthagiri Educational Trust          LT Bk Fac          CARE BBB+      598     Reaffirmed
(enhanced from Rs.56.39 CR)
Sapthagiri Hospitality Pvt Ltd        LT Bk Fac          CARE BB-       158.2   Revised from
                                                                                CARE B+
Satyam Caterers Pvt Ltd               LT Bk Fac          CARE BB+       515     Assigned
Savitra Tiles Pvt Ltd                 LT Bk Fac          CARE B+        80.3    issuer not
                                                                                Cooperating
Screen-O-Tex India Pvt Ltd            LT Bk Fac          CARE BB-       13      Reaffirmed
Screen-O-Tex India Pvt Ltd            LT/ ST Bk Fac      CARE BB- /CARE 60      Reaffirmed
                                                         A4
Seya Pate Constructions Llp           LT Bk Fac          CARE B         75      issuer not
                                                                                Cooperating
Shakti Motors Pvt. Ltd.               LT Bk Fac          CARE BBB-      215     Reaffirmed
Shankar Agro Food                     LT Bk Fac          CARE B+        70      Issuer Not
                                                                                Cooperating
Shapoorji Pallonji Forbes Shipping LtdLT Bk Fac          CARE AA        -       Reaffirmed
* Exchange Rate USD 1 = INR 67.475 for facility of USD 29.029 million
Shikhar Integrated Cold Chain Pvt Ltd LT Bk Fac          CARE B         170     Issuer not
                                                                                Cooperating
Shiv Hari Plywood Ltd                 LT Bk Fac          CARE B+        58      Revised from
                                                                                CARE BB
Shiva Industrial Security Agency      LT Bk Fac          CARE BB        122.2   Reaffirmed
(Gujarat) Pvt Ltd
Shree Hari Developers                 LT Bk Fac          CARE B+        61.8    Reaffirmed
Shree Krishnanand Infrastructure And  LT Bk Fac          CARE B+        10      Issuer not
Developers Pvt Ltd                                                              Cooperating
Shri Shivjot Developers & Builders LtdLT Bk Fac          CARE B         95      Issuer not
                                                                                Cooperating
Sify Technologies Ltd                 LT Bk Fac          CARE A+        6119    Reaffirmed
(enhanced from 593.78 CR)
Sify Technologies Ltd                 Proposed NCD Issue CARE A+        500     Reaffirmed
Sify Technologies Ltd                 LT/ ST Bk Fac      CARE A+ /CARE  1120    Reaffirmed
                                                         A1
Sipat Transmission Ltd.               LT Bk Fac          CARE A-        4610    Assigned
Sohanlal Sons                         LT Bk Fac          CARE B+        80      Reaffirmed
Sperry Plast Ltd                      LT Bk Fac          CARE B+        1410.7  issuer not
                                                                                Cooperating
Sri Venkata Vamsi Krishna Traders     LT Bk Fac          CARE B         50      Assigned
Straight Edge Contracts Pvt Ltd       LT Bk Fac          CARE B         100     issuer not
                                                                                Cooperating
Sugee Developer                       LT Bk Fac          -              166.8   Revised from
                                                                                CARE BB+
Suman Vinimay Pvt. Ltd.               LT Bk Fac          CARE BB        270     issuer not
                                                                                Cooperating
Sumit Woods Pvt Ltd                   LT Bk FacDropline  CARE BB        450     Revised from
                                      overdraft facility                        CARE BB-
Sundaram Auto Components Ltd          LT Bk Fac          CARE A+        -       Reaffirmed
(reduced from 36.00 CR)
T.C. Spinners Pvt Ltd                 LT Bk Fac          CARE B+        935.1   issuer not
                                                                                Cooperating
Talbros Automotives Components Ltd    LT Bk Fac          CARE BBB+      1089.6  Assigned
Taneja Overseas                       LT Bk Fac          CARE B+        90      Issuer Not
                                                                                Cooperating
Texcel International Pvt Ltd          LT Bk Fac          CARE BB+       102     Assigned
The Clearing Corporation Of India Ltd Non-Convertible    CARE AAA       500     Reaffirmed
                                      Cumulative
                                      Redeemable PS Issue
Tirupati Cold Storage                 LT Bk Fac          CARE B+        55.4    Assigned
Unipearl Alloys                       LT Bk Fac          CARE B+        35      Issuer Not
                                                                                Cooperating
Vishakha Solar Films Pvt Ltd          LT Bk Fac          CARE BB        82.5    Assigned
Vishakha Solar Films Pvt Ltd          LT/ ST Bk Fac      CARE BB / A4   350     Assigned
Vision Motors Pvt Ltd                 LT Bk Fac          CARE BB        232.4   Reaffirmed
(reduced from 27.12)
--------------------------------------------------------------------------------------------
$: 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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