May 29, 2017 / 3:54 AM / 3 months ago

CARE ratings for Indian debt instruments-May 29

    May 29 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 26, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Annadata Rice Mill                    ST Bk Fac          CARE A4        6.6     Assigned
Aussee Oats India Pvt. Ltd.           ST Bk Fac          CARE A1 (SO)   40*     Assigned
* Backed by unconditional and irrevocable corporate guarantees of Future Consumer Ltd.
Dwarkadhish Cotspin Pvt Ltd           ST Bk Fac          CARE A4+       4.4     Revised from
                                                                                CARE A4
Keyur Industries                      ST Bk Fac          CARE A4+       0.6     Assigned
Nexo Industries Pvt Ltd               ST Bk Fac          CARE A2        168.1   Assigned
Satin Creditcare Network Ltd          CP                 CARE A2        1000    Reaffirmed
enhanced from Rs. 50 crore
Tag Offshore Ltd                      ST Bk Fac – Non    CARE A3+       560     Reaffirmed
                                      Fund based
The India Cements Ltd                 ST Bk Fac          CARE A1        5500    Reaffirmed
Enhanced from Rs.370.17 crore

LONG TERM RATINGS:
-------------------
Annadata Rice Mill                    LT Bk Fac          CARE BB        116     Assigned
Arihant Industrial Corporation Ltd    LT Bk Fac          CARE BBB       170.8   Assigned
Arihant Industrial Corporation Ltd    Bk Fac             CARE BBB /A3   79.2    Assigned
Aussee Oats India Pvt. Ltd.           LT Bk Fac          CARE A (SO)    10*     Assigned
* Backed by unconditional and irrevocable corporate guarantees of Future Consumer Ltd.
Bestview Infracon Ltd                 NCD- Type B*       CARE B+        338     Assigned
                                      (Proposed)
*NCDs Type B will receive return as per the Distribution Ratio of Remainder Amount post
guaranteed return to NCDs Type A.
Bestview Infracon Ltd                 NCD- Type A        CARE BB-       135     Assigned
                                      (Proposed)
Bharat Heavy Electricals Ltd          LT FB Bk Fac       CARE AA+       50000   Assigned
Bharat Heavy Electricals Ltd          Long/ST Non-FB Bk  CARE AA+ /A1+  550000  Assigned
                                      Fac
Dwarkadhish Cotspin Pvt Ltd           LT Bk Fac          CARE BB+       363.7   Revised from
                                                                                CARE BB
reduced from Rs.42.80 crore
Dwarkadhish Cotspin Pvt Ltd           Bk Fac             CARE BB+ /A4+  170     Revised from
                                                                                CARE BB /A4
Hazaribagh Ranchi Expressway Ltd.     LT- Senior NCD     CARE AAA (SO)  5380    Final Rating
                                      (NCDs) issue
Hazaribagh Ranchi Expressway Ltd.     LT- Subordinate    CARE AAA (SO)  1770    Final Rating
                                      Non- Convertible
                                      Debenture (NCDs) issue
Idbi Bank Ltd                         Lower Tier II      CARE A         500     Revised from
                                      Bonds$                                    CARE AA-
$-transferred from erstwhile IDBI Home Finance Ltd
Keyur Industries                      LT Bk Fac          CARE BB        100     Assigned
Keyur Industries                      Bk Fac             CARE BB /A4+   30      Assigned
Manipal Health And Education          LT Bk Fac          CARE BBB (SO)  8710#   Assigned
(International) Pte Ltd
# Equivalent to USD 134 million, converted at INR/USD @ Rs.65/USD
Ncml Basti Pvt Ltd                    LT Bk Fac          CARE A+ (SO)   200     Assigned
                                      (Proposed TL)
Ncml Batala Pvt Ltd                   LT Bk Fac          CARE A+ (SO)   180     Assigned
                                      (Proposed TL)
Ncml Bettiah Pvt Ltd                  LT Bk Fac          CARE A+ (SO)   200     Assigned
                                      (Proposed TL)
Ncml Bhattu Pvt Ltd                   LT Bk Fac          CARE A+ (SO)   200     Assigned
                                      (Proposed TL)
Ncml Chhehreatta Pvt Ltd              LT Bk Fac          CARE A+ (SO)   180     Assigned
                                      (Proposed TL)
Ncml Deoria Pvt Ltd                   LT Bk Fac          CARE A+ (SO)   200     Assigned
                                      (Proposed TL)
Ncml Faizabad Pvt Ltd                 LT Bk Fac          CARE A+ (SO)   160     Assigned
                                      (Proposed TL)
Ncml Jalalabad Pvt Ltd                LT Bk Fac          CARE A+ (SO)   170     Assigned
                                      (Proposed TL)
Ncml Palwal Pvt Ltd                   LT Bk Fac          CARE A+ (SO)   180     Assigned
                                      (Proposed TL)
Ncml Sonepat Pvt Ltd                  LT Bk Fac          CARE A+ (SO)   200     Assigned
                                      (Proposed TL)
Ncml Varanasi Pvt Ltd                 LT Bk Fac          CARE A+ (SO)   165     Assigned
                                      (Proposed TL)
Nexo Industries Pvt Ltd               LT Bk Fac          CARE BBB+      699.8   Assigned
Periyar Agro Food Industries Pvt Ltd  LT Bk Fac          CARE BB-       90      Assigned
Sree Lakshmi Gayatri Hospitals Pvt LtdLT Bk Fac          CARE BB        1650    Revised from
                                                                                CARE BB-
Tag Offshore Ltd                      LT Bk Fac – TL     CARE BBB       9290    Reaffirmed
Tag Offshore Ltd                      LT Bk Fac – Fund   CARE BBB       300     Reaffirmed
                                      Based
The India Cements Ltd                 LT Bk Fac          CARE A-        25035.6 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)

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