June 30, 2017 / 3:57 AM / 2 months ago

CARE ratings for Indian debt instruments-Jun 30

    Jun 30 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 29, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Cera Sanitaryware Ltd                 ST Bk Fac          CARE A1+       230     Reaffirmed
Fashion Gate                          ST Bk Fac          CARE AA        50      Reaffirmed
Il&Fs Engineering And Construction Co.Proposed CP (CP)   CARE A1+(SO)   1000    Assigned
Ltd                                   issue@*
@ credit enhancement in the form of an Unconditional and Irrevocable Line of Credit (LOC) as a
liquidity back-up arrangement from the parent i.e. IL&FS Ltd.
*Ratings shall remain provisional till the receipt of the executed copies of the transaction
documents such as Final Term sheet, Line of
Credit Sanction Letter from IL&FS Ltd. along with Independent Legal Opinion to the satisfaction
of CARE.    

Raghav Cotspin Pvt Ltd                ST Bk Fac          CARE A4        30      Assigned

LONG TERM RATINGS:
-------------------
Agarwal Reclaim And Rubber Products   LT Bk Fac          CARE BB-       108.6   Revised from
Pvt Ltd                                                                         CARE D
(reduced from 11.50 CR)
Cera Sanitaryware Ltd                 LT Bk Fac          CARE AA        548.9   Reaffirmed
(Reduced from 62.45 CR)
Cera Sanitaryware Ltd                 LT/ST Bk Fac       CARE AA /      220     Reaffirmed
                                                         CARE A1+
Fashion Gate                          LT Bk Fac          CARE BB        43      Reaffirmed
(reduced from 5.40 CR)
Pune Municipal Corporation            NCD                CARE AA+       2000    Reaffirmed
Raghav Cotspin Pvt Ltd                LT Bk Fac          CARE BB-       515     Assigned
Raghav Cotspin Pvt Ltd                LT/ST Bk Fac       CARE BB- /     28.5    Assigned
                                                         CARE A4
Seven Hills Educational And Health    LT Bk Fac          CARE BB-       188.6   Assigned
care Society
Sri Laxmi Vinayaka Agro Foods         LT Bk Fac          CARE B+        158     Assigned
Swathi Sunsoure Power Pvt Ltd         LT Bk Fac          CARE BB-       140     Assigned
Swathi Sunsoure Power Pvt Ltd         LT/ST Bk Fac       CARE BB- /     60      Assigned
                                                         CARE A4
Visage Holdings And Finance Pvt Ltd   Proposed NCD       CARE BBB-      120     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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