July 16, 2012 / 5:43 AM / 5 years ago

CARE ratings for Indian debt instruments-Jul 16

Jul 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 13, 2012.

COMPANY                             INSTRUMENT           RATING        AMOUNT      MOVEMENT
                                                                       (RS.MLN)
-------                             ----------           ------        -------     ---------
SHORT TERM RATINGS:
-------------------
Bodal Chemicals Ltd                 ST Bk Fac           CARE A4         950        Reaffirmed
Essar Oil Ltd                       ST Bk Fac           CARE A3%        94500
Essar Oil Ltd                       ST Bk Fac (Invoice  CARE A2(SO)%    12000
                                    Discounting Fac)
Himalayan Road Construction Pvt.    ST Bk Fac           CARE A4         45         Assigned
Ltd.
Knk Ship Management                 ST Bk Fac           CARE A4+        66         Assigned
                                    (Non-fund Based)
Macronet Mercantile Pvt Ltd.        ST Bk Fac           CARE A1 (SO)    15000      Revised from
                                                                                   CARE A1+
Mahadeo Construction Company        ST Bk Fac           CARE A4         25         Assigned
Reliance Communications             ST Bk Fac           CARE A1 (SO)    11800      Revised from
Infrastructure Ltd                                                                 CARE A1+
Reliance Communications Ltd         CP (CP)/ST Debt     CARE A1         145000     Revised from
                                    (STD)                                          CARE A1+
Tantia Constructions Ltd.           STD including CP@   CARE A2         1000       Revised from
                                                                                   CARE A1
@ carved out of working capital limits
Transformers & Rectifiers (India)   ST Bk Fac           CARE A1         700        Revised from
Ltd.                                                                               CARE A1+
Transformers & Rectifiers (India)   ST Debt / CP Issue* CARE A1         500        Revised from
Ltd.                                                                               CARE A1+
* Carved out of working capital limits
Transpares Ltd                      ST Bk Fac           CARE A1 (SO)    40         Revised from
                                                                                   CARE A1+ (SO)

LONG TERM RATINGS:
-------------------
Bodal Chemicals Ltd                 LT Bk Fac           CARE B          2128.7     Revised from
                                                                                   CARE BB-
C&C Constructions Ltd               LT Bk Fac           CARE C          4706.1     Revised from
                                                                                   CARE BB-
C&C Constructions Ltd               LT/ ST Bk Fac       CARE C/CARE A4  31000      Revised from
                                                                                   CARE BB-/
                                                                                   CARE A4
Edgetech Air Systems Pvt Ltd        LT Bk Fac           CARE BB         105        Assigned
Edgetech Air Systems Pvt Ltd        Long/ST Bk Fac      CARE BB/CARE    20         Assigned
                                                        A4
Essar Oil Ltd                       LT Bk Fac           CARE BBB-%      27733.3
Giga Solutions Pvt Ltd              LT/ ST Bk Fac       CARE A-         50         Revised from
                                                        (SO)/CARE A1               CARE A+
                                                        (SO)                       (SO)/CARE A1+
                                                                                   (SO)
Haryana Cybernet Pvt Ltd.           LT/ ST Bk Fac       CARE A-         50         Revised from
                                                        (SO)/CARE A1               CARE A+
                                                        (SO)                       (SO)/CARE A1+
                                                                                   (SO)
Himalayan Road Construction Pvt.    LT Bk Fac           CARE BB-        15         Assigned
Ltd.
Infomagic Services Pvt Ltd.         LT/ ST Bk Fac       CARE A-         50         Revised from
                                                        (SO)/CARE A1               CARE A+
                                                        (SO)                       (SO)/CARE A1+
                                                                                   (SO)
Kerala Communication Network Pvt LtdLT/ ST Bk Fac       CARE A-         120        Revised from
                                                        (SO)/CARE A1               CARE A+
                                                        (SO)                       (SO)/CARE A1+
                                                                                   (SO)
Knk Ship Management                 LT Bk Fac (Fund     CARE BB+        153.6      Assigned
                                    Based)
M/S. Parthas                        LT Bk Fac           CARE BB         173        Assigned
M/S. Rajan Overseas Inc             Bk Fac              -               -          Suspended
Mahadeo Construction Company        LT Bk Fac           CARE BB         67.3       Assigned
Mask Polymers Insulators Pvt Ltd    Bk Fac              -               -          Suspended
Mehak Foods Ltd                     LT Bk Fac           CARE BB+        154.6      Assigned
Punjab Cybernet Pvt Ltd             LT/ ST Bk Fac       CARE A-         50         Revised from
                                                        (SO)/CARE A1               CARE A+
                                                        (SO)                       (SO)/CARE A1+
                                                                                   (SO)
Reliance Big Tv Ltd.                LT/ ST Bk Fac       CARE A-         900        Revised from
                                                        (SO)/CARE A1               CARE A+
                                                        (SO)                       (SO)/CARE A1+
                                                                                   (SO)
Reliance Communications Ltd         NCD (NCD)           CARE A-         30000      Revised from
                                                                                   CARE A+
Reliance Communications Ltd         LT Bk Fac           CARE A-         33000      Revised from
                                                                                   CARE A+
Reliance Webstore Ltd               LT/ ST Bk Fac       CARE A-         200        Revised from
                                                        (SO)/CARE A1               CARE A+
                                                        (SO)                       (SO)/CARE A1+
                                                                                   (SO)
Reliance Wimax Ltd.                 LT/ ST Bk Fac       CARE A-         50         Revised from
                                                        (SO)/CARE A1               CARE A+
                                                        (SO)                       (SO)/CARE A1+
                                                                                   (SO)
Sagar Manufacturers Pvt Ltd         LT Bk Fac           CARE B+         650        Assigned
Shri Agrawal Educational & Welfare  LT Bk Fac           CARE B+         277        Assigned
Society
Shubham Textiles                    LT Bk Fac           CARE B          75         Assigned
Tantia Constructions Ltd.           LT Bk Fac           CARE BBB+       8950       Revised from
                                                                                   CARE A-
Tantia Constructions Ltd.           Proposed LT         CARE BBB+       100        Revised from
                                    Borrowing                                      CARE A-
The National Small Industries       LT Bk Fac           CARE AA         15000      Assigned
Corporation Ltd.
Transformers & Rectifiers (India)   LT/ST Bk Fac        CARE A          3600       Revised from
Ltd.                                                                               CARE A+
Transpares Ltd                      LT Bk Fac           CARE A (SO)     39.7       Revised from
                                                                                   CARE A+ (SO)
Uttar Pradesh Network Pvt Ltd       LT/ ST Bk Fac       CARE A-         50         Revised from
                                                        (SO)/CARE A1               CARE A+
                                                        (SO)                       (SO)/CARE A1+
                                                                                   (SO)
--------------------------------------------------------------------------------------------
$: 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, E-mail at rru.data@thomsonreuters.com)

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