June 28, 2017 / 4:54 AM / 2 months ago

CARE ratings for Indian debt instruments-Jun 28

    Jun 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 27, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Mishal Construction Pvt Ltd           ST Bk Fac          CARE A4+       150     Assigned
Polo Industries Pvt Ltd               ST Bk Fac          CARE A4        3       Assigned
Rd Forge (A Unit Of Rd Chemicals Pvt  ST Bk Fac          CARE A4        12.5    Reaffirmed
Ltd)

Uma Rani Agrotech Pvt Ltd             ST Bk Fac          CARE A4        4.9     Assigned

LONG TERM RATINGS:
-------------------
Despina Cv Ifmr Capital 2016          Series A1 PTC#     CARE AAA (SO)          Upgraded from
(Originator: Equitas Small Finance Bank                                         CARE A+ (SO)
Ltd)
#The PTCs rated based on ultimate payment of principal.
Despina Cv Ifmr Capital 2016          Series A2 PTC#     CARE AAA (SO)          Upgraded from
(Originator: Equitas Small Finance Bank                                         CARE A+ (SO)
Ltd)
#The PTCs rated based on ultimate payment of principal.
Devkinandan J. Gupta Metals Llp       Bk Fac             CARE BB+ /A4+  250     Assigned
Jawandamal Dhannamal                  Bk Fac             CARE BB+ /A4+  250     Assigned
Laxmi Foils Pvt Ltd                   LT Bk Fac          CARE BB-       60      Assigned
Mahalaxmi Buildwell Enterprises Pvt LtLT Bk Fac          CARE BB+       70      Assigned
Mangalmurti Quarry Works              LT Bk Fac          CARE B+        61.3    Revised from
                                                                                CARE B
reduced from 7.31 CR
Mishal Construction Pvt Ltd           Proposed LT Bk Fac CARE BB        100     Assigned
Polo Industries Pvt Ltd               LT Bk Fac          CARE BB-       77.1    Assigned
Rd Forge (A Unit Of Rd Chemicals Pvt  LT Bk Fac          CARE BB-       57.5    Reaffirmed
Ltd)
Rd Forge (A Unit Of Rd Chemicals Pvt  Bk Fac             CARE BB- /A4   30      Reaffirmed
Ltd)
Sadbhav Una Highway Pvt Ltd           LT Bk Fac          CARE A         3305.1  Assigned
Uma Rani Agrotech Pvt Ltd             LT Bk Fac          CARE B         67.4    Assigned
--------------------------------------------------------------------------------------------
$: 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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