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CARE ratings for Indian debt instruments-Jun 13
June 13, 2017 / 4:05 AM / 3 months ago

CARE ratings for Indian debt instruments-Jun 13

    Jun 13 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 12, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Amarnath Aggarwal Investment Pvt Ltd  ST Bk Fac          CARE A4        90      Reaffirmed
Bharat Carriers Ltd                   ST Bk Facility     CARE A3        5       Assigned
Gna Axles Ltd                         ST Bk Fac          CARE A1        155     Reaffirmed
Indostar Capital Finance Ltd          CP Programme       CARE A1+       15000   Reaffirmed

(Enhanced from Rs.1,250 crore)
Magnum Aviation Pvt Ltd               ST Bk Fac          CARE A4        55      Assigned
Orchid Exim (India) Pvt Ltd           ST Bk Fac          CARE A4        14      Reaffirmed
Swastika Electricals & Fertilizers    ST Bk Fac          CARE A4        60      Assigned

LONG TERM RATINGS:
-------------------
Bajaj Finance Ltd                     NCD                CARE AAA       15450   Reaffirmed
Bajaj Finance Ltd                     Subordinated debt  CARE AAA       34550   Reaffirmed
Bharat Carriers Ltd                   LT Bk Facility     CARE BBB-      245     Assigned
Bharat Motors Ltd                     LT Bk Facility     CARE BBB-      260     Assigned
Gna Axles Ltd                         LT Bk Fac          CARE A         1390.8  Reaffirmed
(reduced from Rs. 163.37crs)
Magnum Aviation Pvt Ltd               LT Bk Fac          CARE BB        95      Assigned
Orchid Exim (India) Pvt Ltd           LT/ ST Bk Fac      CARE BB-/CARE  120     Reaffirmed
                                                         A4
Rishabh Buildwell Pvt. Ltd.           LT Bk Fac          CARE BB        1500    Assigned
S C Jain Construction Company         LT Bk Fac          CARE BB        22.8    Assigned
S C Jain Construction Company         LT/ST Bk Fac       CARE BB /CARE  39      Assigned
                                                         A4+
Savitri Swadeshi Bikri Kendra         LT Bk Fac          CARE B+        100     Assigned
Shiv Shakti Rice Mills                LT Bk Fac          CARE B+        80      Reaffirmed
(Reduced from 10crs)
Swastika Electricals & Fertilizers    LT Bk Fac          CARE BB        25      Assigned
Swastika Electricals & Fertilizers    LT / ST Bk Fac     CARE BB /CARE  250     Assigned
                                                         A4
--------------------------------------------------------------------------------------------
$: 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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