June 29, 2017 / 3:55 AM / 23 days ago

CARE ratings for Indian debt instruments-Jun 29

5 Min Read

    Jun 29 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 28, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agarwal Sponge Pvt Ltd                ST Bk Fac          CARE A4        100     Reaffirmed
Dmw Cnc Solutions India Pvt Ltd       ST Bk Fac          CARE A4        37.5    Assigned
Hind Plastic Industries               ST Bk Fac          CARE A4        50      Assigned
Patwa City Automobiles Pvt Ltd        ST Bk Fac          CARE A4+       1       Revised from
                                                                                CARE A4+
Issuer Not Cooperating
Trisquare Switchgears Pvt Ltd         ST Bk Fac          CARE A4        25      Assigned

LONG TERM RATINGS:
-------------------
Agarwal Sponge Pvt Ltd                LT Bk Fac          CARE BB+       200     Revised from
                                                                                CARE BB
Ambica Iron & Steel Pvt Ltd           LT Bk Fac          CARE BB-       60      Assigned
Ashwin Corporation                    LT (LT) Bk Fac     -              -       Withdrawn
Ashwin Corporation                    LT/ST (LT/ST) Bk   CARE BB+ /CARE 370     Reaffirmed
                                      Fac                A4+
(enhanced from 15.00crs)
Calyx Merlin Buildcon Llp             LT Bk Fac          CARE B+        20      Assigned
Darshita Happy Homes Pvt Ltd          NCD Issue          CARE BB+       880     Reaffirmed
(reduced from 100.00crs)
Dmw Cnc Solutions India Pvt Ltd       LT Bk Fac          CARE BB        608.3   Assigned
Drushti Realtors Pvt Ltd              LT Bk Fac          CARE D         150     Assigned
Gujarat Ginning And Oil Industries    LT Bk Fac          CARE B+        120     Assigned
Hdfc Bank Ltd.                        Tier II Bond       CARE AAA       100000  Assigned
                                      (Basel III)
Hind Plastic Industries               LT Bk Fac          CARE B+        50      Assigned
Madhusudan Marbles Pvt Ltd            LT Bk Fac          -              -       Withdrawn
Patwa City Automobiles Pvt Ltd        Long -term Bk Fac  CARE BB+       190.4   Revised from
                                                                                CARE BB+
Issuer Not Cooperating
Renew Mega Solar Power Pvt Ltd        LT Bk Fac          CARE BBB       2528.8  Assigned
Rodas Impex Pvt Ltd                   LT Bk Fac          CARE BB-       141.5   Assigned
Trisquare Switchgears Pvt Ltd         LT Bk Fac          CARE BB        71.7    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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