June 27, 2017 / 6:02 AM / 2 months ago

CARE ratings for Indian debt instruments-Jun 27

    Jun 27 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 23 & 26, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aarti Sponge & Power Ltd.             ST Non-FB Bk Fac   CARE A3        165     Reaffirmed
Bajaj Processpack Ltd                 ST Bk Fac          CARE A4        25      Assigned
Bright Power Projects (India) Pvt Ltd ST Bk Fac #        CARE A1 (SO)   1600    Reaffirmed
(enhanced from 96 CR),
#Backed by letter of comfort (LoC) from Texmaco Rail & Engineering Ltd. (TexRail)

C. Doctor India Pvt Ltd               ST Bk Fac          CARE A4        15      Assigned
Chander Bhan Yogesh Kumar             ST Bk Fac          CARE A4        30      Assigned
Clariant Chemicals (India) Ltd        ST Bk Fac –        CARE A1+       400     Placed under
                                      Non-Fundbased Fac                         credit watch
                                                                                with developing
                                                                                implications
Fusion Industries Ltd                 ST Bk Fac          CARE A4+       30      Assigned
Hind Charitable Trust                 ST Bk Fac          CARE A3+       23      Revised from
                                                                                CARE A3+
(Reduced from 3.15 CR)
Hypercity Retail India Ltd            Bk FacFB - LT/     CARE A (SO)    400     Reaffirmed
                                      ST-CC ^            /CARE A1 (SO)
Hypercity Retail India Ltd            Bk FacNon-FB -     CARE A1 (SO)   100     Reaffirmed
                                      ST-BG/LC ^
^ Backed by unconditional and irrevocable corporate guarantees of SSL.
J And J Associates                    ST Bk Fac          CARE A4        50      Assigned
Jbf Industries Ltd.                   ST Bk Fac          CARE A4        16000   Revised from
                                                                                CARE A2+
Lsr Fab Pvt Ltd                       ST Bk Fac          CARE A3        5.4     Reaffirmed
Omkar Textile Mills Pvt Ltd           ST Bk Fac          CARE A4        20      Assigned
P. Duraisamy Maharajha Rice Mills Pvt ST Bk Fac          CARE A4        0.5     Reaffirmed
Ltd
R & D Multiples (Metal Cast) Pvt Ltd  ST Bk Fac          CARE A4        175     Revised from
                                                                                CARE A4
ISSUER NOT COOPERATING
R.L.A. Constructions                  ST Bk Fac          CARE A4        40      Assigned
Sinhgad Technical Education Society   ST Bk Fac          CARE D         164.5   Reaffirmed
(reduced from 24.45 CR)
Sri Balaji Agro                       ST Bk Fac          CARE A4        4.7     Assigned
Setmax Ceramic                        ST Bk Fac          -              -       Withdrawn
Welcome Shoes Pvt Ltd                 ST Bk Fac          CARE A4        12.5    Assigned

MEDIUM TERM RATINGS:
-------------------
Empire Industries Ltd                 FD                 CARE A (FD)    530     Assigned

LONG TERM RATINGS:
-------------------
Aarti Sponge & Power Ltd.             LT – FB Bk Fac – TLCARE BBB-      300     Assigned
Aarti Sponge & Power Ltd.             LT – FB Bk Fac – CCCARE BBB-      305     Reaffirmed
(Enhanced from 25.50 CR)
Adilabad Municipality                 Issuer Rating      CARE BBB (Is)  -       Assigned
Ahluwalia Contracts (India) Ltd       LT Bk Fac – TL     -              -       Withdrawn*
*CARE has withdrawn the rating assigned to the term loan of Ahluwalia Contracts (India) Limited
with immediate effect, as the company has fully repaid the term loan in full and there is no
amount outstanding under the said loan as on date Details of instruments/facilities.
Ahluwalia Contracts (India) Ltd       LT Bk Fac – CC     CARE A         850     Reaffirmed
(reduced from 130 CR)
Ahluwalia Contracts (India) Ltd       Long/ST Bk Fac     CARE A /CARE A18000    Reaffirmed
(enhanced from 745 CR)
Anand Educational Society             LT Bk Fac          CARE BB-       80      Assigned
Antony Road Transport Solutions Pvt   LT Bk Fac          CARE D         250     Revised from
Ltd                                                                             CARE B+
Bajaj Processpack Ltd                 LT Bk Fac          CARE B+        40      Assigned
Bright Power Projects (India) Pvt Ltd LT Bk Fac #        CARE A+(SO)    600     Reaffirmed
(enhanced from 20 CR) ,#Backed by letter of comfort (LoC) from Texmaco Rail & Engineering Ltd.
(TexRail)

Bright Power Projects (India) Pvt Ltd LT/ST Bk Fac #     CARE A+(SO)    499.9   Assigned
                                                         /CARE A1 (SO)
#Backed by letter of comfort (LoC) from Texmaco Rail & Engineering Ltd. (TexRail)

C. Doctor India Pvt Ltd               LT Bk Fac          CARE B         17.5    Assigned
C. Doctor India Pvt Ltd               LT/ Short - term   CARE B /CARE A425      Assigned
                                      Bk Fac
Chander Bhan Yogesh Kumar             LT Bk Fac          CARE B         80      Assigned
Clariant Chemicals (India) Ltd        LT Bk Fac – FB Fac CARE AAA       750     Placed under
                                                                                credit watch
                                                                                with developing
                                                                                implications
Ecostar Goel Properties Llp           LT Bk Fac          CARE B+        175     Assigned
Fusion Industries Ltd                 LT Bk Fac          CARE BB+       170     Assigned
Hind Charitable Trust                 LT Bk Fac          CARE BBB       204     Revised from
                                                                                CARE BBB-
(Reduced from 23.85 CR)
Hypercity Retail India Ltd            Bk FacFB - LT-TL ^ CARE A (SO)    1658.3  Reaffirmed
^ Backed by unconditional and irrevocable corporate guarantees of SSL.
Hypercity Retail India Ltd            NCD^               CARE A (SO)    500     Reaffirmed
Hypercity Retail India Ltd            Bk Fac-FB-LTTL$    CARE BBB+ (SO) 192.5   Reaffirmed
Hypercity Retail India Ltd            Bk FacFB-LT/ST $   CARE BBB+ (SO) 200     Reaffirmed
                                                         /CARE A2 (SO)
Inp Computer Technology Pvt Ltd       LT Bk Fac          CARE BB        55      Assigned
J And J Associates                    LT Bk Fac          CARE B+        47.5    Assigned
Jayshree Vyapar Ltd                   LT Bk Fac          CARE BB+       70      Reaffirmed
Jbf Industries Ltd.                   LT Bk Fac          CARE BB+       4268.3  Revised from
                                                                                CARE BBB+
Khammam Municipal Corporation         Issuer Rating      CARE BBB (Is)  -       Assigned
Lsr Fab Pvt Ltd                       LT Bk Fac          CARE BBB-      138.2   Reaffirmed
Lsr Fab Pvt Ltd                       Long/ST Bk Fac     CARE BBB-      115     Reaffirmed
                                                         /CARE A3
(enhanced from 8.50 CR)
Mahabubnagar Municipality             Issuer Rating      CARE BBB-(Is)  -       Assigned
Nalgonda Municipality                 Issuer Rating      CARE BBB (Is)  -       Assigned
Oasis Realty Pvt Ltd                  LT Bk Fac          CARE BBB       1900    Assigned
Omkar Textile Mills Pvt Ltd           LT Bk Fac          CARE BB        158.1   Assigned
P. Duraisamy Maharajha Rice Mills Pvt LT Bk Fac          CARE BB        96.1    Reaffirmed
Ltd
(enhanced from 7.18 CR)
Promont Hillside Pvt Ltd              Proposed           CARE AA (SO)   4000    Assigned
                                      Nonconvertible
                                      Debentures
R & D Multiples (Metal Cast) Pvt Ltd  LT Bk Fac          CARE BB        123.2   Revised from
                                                                                CARE BB
ISSUER NOT COOPERATING
R.L.A. Constructions                  LT Bk Fac          CARE B+        25      Assigned
Sai Chakra Hotels Pvt Ltd             LT Bk Fac          CARE A+(SO)    3500    Reaffirmed
(enhanced from 250 CR)
Setmax Ceramic                        LT Bk Fac          -              -       Withdrawn
Shankha Deep Exports Pvt Ltd          LT Bk Fac          CARE BB        150     Reclassified
                                                                                from
                                                                                short-term to
                                                                                long-term
Shriram City Union Finance Ltd        NCD (Proposed)     CARE AA+       1350    Assigned
Siddhivinayak Aqua Feed & Cure        LT Bk Fac          CARE BB-       120     Assigned
Sinhgad Technical Education Society   LT Bk Fac          CARE D         4262.4  Reaffirmed
(reduced from 493.74 CR)
Sri Balaji Agro                       LT Bk Fac          CARE B+        46      Assigned
Swastik Aahar Mills Pvt Ltd           LT Bk Fac          CARE B+        55      Assigned
Tata Power Renewable Energy Ltd       LT Bk Fac-tl       CARE A         11550   Reaffirmed
Tata Power Renewable Energy Ltd       Proposed LT Bk Fac CARE A         1474.5  Reaffirmed
Tata Power Renewable Energy Ltd       LT/ST Bk Fac       CARE A /CARE A16250    Reaffirmed
Tata Power Renewable Energy Ltd       LT Bk Fac          CARE A+(SO)    -       Withdrawn
Unidrug Innovative Pharma TechnologiesLT Bk Fac          -              -       Withdrawn
Ltd
Unidrug Innovative Pharma TechnologiesST Bk Fac          -              -       Withdrawn
Ltd
Varenyam Motor Car                    LT Bk Fac          CARE BB-       112.5   Assigned
Welcome Shoes Pvt Ltd                 LT Bk Fac          CARE BB-       137.5   Assigned
Yashnand Engineers & Contractors      LT Bk Fac          CARE BBB       50      Assigned
Yashnand Engineers & Contractors      LT/ST Bk Fac       CARE BBB /CARE 860     Assigned
                                                         A3+
--------------------------------------------------------------------------------------------
$: 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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