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CARE ratings for Indian debt instruments-Jan 29
January 29, 2013 / 5:38 AM / 5 years ago

CARE ratings for Indian debt instruments-Jan 29

Jan 29 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 28, 2013.

COMPANY                             INSTRUMENT          RATING         AMOUNT      MOVEMENT
                                                                      (RS.MLN)
-------                             ----------          ------         -------     ---------
SHORT TERM RATINGS:
-------------------
Adico Forge Pvt Ltd                 ST Bk Fac           CARE A4 (SO)    57.5       Reaffirmed
Amul Industries Pvt Ltd.            ST Bk Fac           CARE A4         7.5        Reaffirmed
Anjani Synthetics Ltd               ST Bk Fac           CARE A4         220        Reaffirmed
Anupam Industries                   ST Bk Fac           CARE A4         14         Reaffirmed

Bhagaban Mohapatra Constructions &  ST Bk Fac           CARE A4         200        Reaffirmed
Engineers Pvt Ltd
Copper Strips Pvt Ltd               ST Bk Fac           CARE A4+        80         Revised from
                                                                                   CARE A3
(enhanced from Rs.7.75 crore)
Deccan Enterprises Pvt Ltd          ST Bk Fac           CARE A3         90         Reaffirmed
Gupta Metal Sheets Ltd              ST Bk Fac           CARE A4         190        Revised from
                                                                                   CARE A4+
(reduced from Rs.23 crore)
Hanumant Construction Pvt Ltd       ST Bk Fac           CARE A4         50         Reaffirmed
Harita Seating Systems Ltd          ST Bk Fac           CARE A3         50         Reaffirmed
Hindustan Gum & Chemical Ltd        ST Bk Fac           CARE A1+        100        Reaffirmed
JSW Infrastructure Ltd              ST Bk Fac           CARE A2+        100        Assigned
M.M. Exports India                  ST Bk Fac           CARE A4         134        Reaffirmed
Mahashakti Energy Ltd.              ST Bk Fac           CARE A4         1100       Assigned
Mott Macdonald Pvt. Ltd             ST Bk Fac(Non Fund  CARE A1+        270        Reaffirmed
                                    Based)
Pami Metals Pvt Ltd                 ST Bk Fac           CARE A4         10         Reaffirmed
PME Power Solutions (India) Ltd     ST Bk Fac           CARE A3         1090       Assigned
Prashant Enterprises                Shortterm Bk Fac    CARE A4         630        Assigned
Secure Meters Ltd                   ST Debt / CP Issue* CARE A2+        600        Revised from
                                                                                   CARE A1
* carved out of working capital limits
Shivagrico Implements Ltd           ST Bk Fac           CARE A3         8          Reaffirmed
Shree Ram Proteins Pvt Ltd          ST Bk Fac           CARE A4         5          Reaffirmed

LONG TERM RATINGS:
-------------------
Adico Forge Pvt Ltd                 LT Bk Fac           CARE BB+ (SO)   115        Reaffirmed
Amul Auto Components Pvt Ltd        LT Bk Fac @         CARE BB+ (SO)   10         Reaffirmed
@ backed by unconditional and irrevocable corporate guarantee extended by Amul Industries
Private Limited (AIPL; rated CARE BB+/CARE A4)
Amul Crankcase Pvt Ltd              LT Bk Fac           CARE D          52.7       Revised from
                                                                                   CARE BB+ (SO)
Amul Industries Pvt Ltd.            LT Bk Fac           CARE BB+        564.6      Reaffirmed
Anjani Synthetics Ltd               LT Bk Fac           CARE BB+        412.5      Reaffirmed
(enhanced from Rs.35.81 crore)
Anupam Industries                   LT Bk Fac           CARE B+         47.5       Reaffirmed
Arihant Tiles And Marbles Pvt Ltd   LT Bk Fac           CARE BB         8          Reaffirmed
Arihant Tiles And Marbles Pvt Ltd   LT/ST Bk Fac        CARE BB /CARE   134.5      Reaffirmed
                                                        A4
Bhagaban Mohapatra Constructions &  LT Bk Fac           CARE BB         21.8       Reaffirmed
Engineers Pvt Ltd
(reduced from Rs.3.21 crore)
Bulandshahr Roller Flour Mill Pvt   LT Bk Fac           CARE B+         80         Assigned
Ltd.
CMM Infraprojects Ltd               LT Bk Fac           CARE BB+        150        Reaffirmed
(enhanced from Rs.8 Cr)
CMM Infraprojects Ltd               LT/ST Bk Fac        CARE BB+/CARE   210        Reaffirmed
                                                        A4
(enhanced from Rs.10 Cr)
Copper Strips Pvt Ltd               LT Bk Fac           CARE BB+        49.9       Revised from
                                                                                   CARE BBB-
(enhanced from Rs.4.76 crore)
Copper Strips Pvt Ltd               LT/ST Bk Fac        CARE BB+/CARE   10         Revised from
                                                        A4+                        CARE BBB- /
                                                                                   CARE A3
(enhanced from Rs.0.50 crore)
Deccan Enterprises Pvt Ltd          LT Bk Fac           CARE BBB-       123.1      Reaffirmed
(reduced from Rs. 15.12 Cr)
Dewan Housing Finance Ltd           NCD                 CARE AA+        10000      Assigned
Dewan Housing Finance Ltd           LT Bk Fac           CARE AA+        206523.9   Reaffirmed
(enhanced from Rs.17,102.39 cr)
Gupta Metal Sheets Ltd              LT Bk Fac           CARE BB         213.4      Revised from
                                                                                   CARE BB+
(reduced from Rs.23.35 crore)
Hanumant Construction Pvt Ltd       LT Bk Fac           CARE B+         100        Reaffirmed
Harita Seating Systems Ltd          LT Bk Fac           CARE BBB        363        Reaffirmed
(enhanced from Rs.20.67Cr)
Harita Seating Systems Ltd          LT/ST Bk Fac        CARE BBB        95         Reaffirmed
                                                        /CARE A3
Hindustan Gum & Chemical Ltd        LT/ST Bk Fac        CARE A+/CARE    3495       Reaffirmed
                                                        A1+
Industrial Metal Corporation        Bk Fac              CARE BB /CARE              Suspended
                                                        A4
Jai Shiv Suitings Pvt Ltd.          LT Bk Fac           CARE B+         95.8       Reaffirmed
(Reduced from Rs. 10.34 Cr)
JSW Infrastructure Ltd              LT Bk Fac           CARE A          2650       Assigned
Karaikal Port Pvt Ltd.              LT Bk Fac           CARE B          13842.5    Revised from
                                                                                   CARE BB+
L&T Finance Holdings Ltd.           Redeemable          CARE AA+ (RPS)  3000       Assigned
                                    Non-Convertible
                                    Cumulative PS
Mahashakti Energy Ltd.              LT Bk Fac           CARE BB-        487.1      Assigned
Mott Macdonald Pvt. Ltd             LT Bk Fac(Fund      CARE A+         20         Reaffirmed
                                    Based)
Mott Macdonald Pvt. Ltd             LT Bk Fac(Non Fund  CARE A+         100        Reaffirmed
                                    Based)
OSS Air Management Ltd              LT Bk Fac           CARE B+ (SO)    65.2       Revised from
                                                                                   CARE BB (SO)
OSS Air Management Ltd              LT/ST Bk Fac        CARE B+ (SO)    0.5        Revised from
                                                        /CARE A4(SO)               CARE BB(SO)/
                                                                                   CARE A4 (SO)
Pami Metals Pvt Ltd                 LT Bk Fac           CARE B+         335.5      Reaffirmed
PME Power Solutions (India) Ltd     LT Bk Fac           CARE BBB-       1410       Assigned
Sbi Global Factors Ltd              Lower Tier II Bonds CARE AAA        300        Reaffirmed
Secure Meters Ltd                   LT Bk Fac           CARE A          3696.2     Revised from
                                                                                   CARE A+
Secure Meters Ltd                   LT/ST Bk Fac        CARE A /CARE    5000       Revised from
                                                        A2+                        CARE A+ /
                                                                                   CARE A1
Shivagrico Implements Ltd           LT Bk Fac           CARE BBB-       60.42      Reaffirmed
Shivashakti Sugars Ltd              LT Bk Fac           CARE B-         2500       Assigned
Shree Ram Proteins Pvt Ltd          LT Bk Fac           CARE B+         261.3      Reaffirmed
Super Alloys Casting Pvt Ltd        LT Bk Fac           CARE BB-        82.5       Assigned
Super Alloys Casting Pvt Ltd        LT/ST Bk Fac        CARE BB-/CARE   5          Assigned
                                                        A4
Tirupur Thirukkumaran Textiles (P)  LT Bk Fac           CARE B          233        Revised from
Ltd                                                                                CARE BB+
(reduced from Rs. 25.20 Cr)
Tirupur Thirukkumaran Textiles (P)  LT/ST Bk Fac        CARE B /CARE    27.5       Revised from
Ltd                                                     A4                         CARE BB+ /
                                                                                   CARE A4+
Tourism Finance Corporation Of      LT Bonds            CARE A+         1750       Assigned
India Ltd
Tourism Finance Corporation Of      LT Bonds*           CARE A+         500        Reaffirmed
India Ltd
*part of rated long-term bonds aggregating Rs.200 crore
--------------------------------------------------------------------------------------------
$: 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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