August 21, 2012 / 6:07 AM / 5 years ago

CARE ratings for Indian debt instruments-Aug 21

Aug 21 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 17, 2012.

COMPANY                             INSTRUMENT           RATING        AMOUNT      MOVEMENT
                                                                       (RS.MLN)
-------                             ----------           ------        -------     ---------
SHORT TERM RATINGS:
-------------------
Amritlal Naresh Kumar               ST Bk Fac           CARE A4         110        Assigned
Continental Warehousing Corporation ST Bk Fac           CARE A2         600        Revised from
(Nhava Sheva) Ltd                                                                  CARE A3
(Reduced from Rs.78.50 crore)

Emco Ltd.                           ST Bk Fac           CARE A3+        13500      Revised from
                                                                                   CARE A1
Emco Ltd.                           CP                  -               500        Withdrawn*
* CARE has withdrawn the rating assigned to the CP issue of Emco, as the CP has not been placed
and there is no outstanding amount against the same.
Jindal Cotex Ltd                    ST Bk Fac           CARE D          350        Revised from
                                                                                   CARE A4+
K.P.G. Enterprise                   ST Bk Fac           CARE A4+        435        Assigned
Nitco Ltd                           ST Bk Fac           CARE A4         6330.7     Reaffirmed
Shree Ganesh Jewellery House Ltd.   ST debt (including  CARE A1         4000       Revised from
                                    CP)                                            CARE A1+
Shree Ganesh Jewellery House Ltd.   ST Bk Fac           CARE A1+        39500      Reaffirmed
(enhanced from Rs.2,905 Cr)
Toyo Engineering India Ltd          ST Bk Fac           CARE A1         6870       Reaffirmed
(reduced from Rs. 835 crore)
Vindhya Telelinks Ltd.              ST Bk Fac           CARE A3         1275       Reaffirmed

LONG TERM RATINGS:
-------------------
Amritlal Naresh Kumar               LT Bk Fac           CARE B+         15         Assigned
Avani Projects And Infrastructure   LT Bk Fac           CARE BB+        5319       Revised from
Ltd.                                                                               CARE BB-
Bridgestone India Pvt Ltd.          LT / ST Bk Fac      CARE AAA/CARE   4740       Reaffirmed
                                                        A1+
(enhanced from Rs.359 crore)
Caspia Hotels Pvt Ltd.              LT Bk Fac*          CARE B          356.3      Revised from
                                                                                   CARE BBB (SO)
* backed by unconditional irrevocable (joint and several) corporate guarantee provided by Vascon
Engineers Limited (VEL) and Vascon Pricol Infrastructure Limited
Continental Warehousing Corporation LT Bk Fac           CARE BBB+       3301.3     Revised from
(Nhava Sheva) Ltd                                                                  CARE BBB
(Reduced from Rs.330.84 crore)
Emco Ltd.                           LT Bk Fac           CARE BBB+       3694       Revised from
                                                                                   CARE A
Emco Ltd.                           NCD                 CARE BBB+       333.3      Revised from
                                                                                   CARE A
Jindal Cotex Ltd                    LT Bk Fac           CARE D          1272.6     Revised from
                                                                                   CARE BB+
Jindal Medicot Ltd                  LT Bk Fac           CARE D          820        Revised from
                                                                                   CARE BB+ (SO)
Jindal Specialty Textile Ltd.       LT Bk Fac           CARE D          1450       Revised from
                                                                                   CARE BB+ (SO)
K.P.G. Enterprise                   LT Bk Fac           CARE BB-        55         Assigned
Nitco Ltd                           LT Bk Fac           CARE B          6484.3     Downgraded
                                                                                   from CARE BB
Shiva Construction Company          Bk Fac              CARE B+                    Withdrawn
Shree Ganesh Jewellery House Ltd.   LT Bk Fac           CARE A+         1500       Reaffirmed
(enhanced from Rs.60 Cr)
Shree Ganesh Jewellery House Ltd.   NCD (Series I -     CARE A+         500        Reaffirmed
                                    Tranche I)
Shree Ganesh Jewellery House Ltd.   NCD (Series I -     CARE A+         500        Reaffirmed
                                    Tranche II)
Shree Ganesh Jewellery House Ltd.   NCD (Series I -     CARE A+         1500       Reaffirmed
                                    Tranche III)
Toyo Engineering India Ltd          LT Bk Fac           CARE A          350        Reaffirmed
Toyo Engineering India Ltd          LT/ST Bk Fac        CARE A/CARE A1  3100       Reaffirmed
(enhanced from Rs. 165 crore)
Vindhya Telelinks Ltd.              LT Bk Fac           CARE BBB-       650        Revised from
                                                                                   CARE BBB
Yes Bank Ltd                        Lower Tier II Bonds CARE AA         3000       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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