December 23, 2016 / 5:38 AM / 8 months ago

CARE ratings for Indian debt instruments-Dec 23

Dec 23 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 22, 2016.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Deevya Shakti Paper Mills Pvt Ltd     ST Bk Fac          CARE A3+       60.7    Revised from
                                                                                CARE A3
reduced from 7.75 CR
Menon Pistons Ltd                     ST Bk Fac          CARE A2        30      Reaffirmed

Regen Powertech Pvt Ltd               ST Bk Fac (Non-    CARE A3        9050    Suspension
                                      Fund Based)-LC                            Revoked;
                                                                                Revised from
CARE BB/A4
Regen Powertech Pvt Ltd               Short/LT Bk Fac    CARE BBB- (SO) 150     Suspension
                                      (Non Fund Based) - /A3 (SO)               revoked;
                                      LC/BG                                     Revised from
CARE BB (SO)/ A4 (SO)
Santhoshimathaa Oils And Fats Pvt Ltd ST Bk Fac          CARE A4+       328     Reaffirmed
enhanced from 5.90 CR
Tata Communications Ltd               ST Bk Fac          CARE A1+       16740   Reaffirmed
Enhanced from 1510 CR

LONG TERM RATINGS:
-------------------
Banshi Cotton Pvt Ltd                 LT Bk Fac          CARE BB-       0.5     Assigned
Banshi Cotton Pvt Ltd                 Bk Fac             CARE BB- /A4   170     Assigned
Bimla Rice International              LT Bk Fac          CARE B+        78.7    Reaffirmed
Deevya Shakti Paper Mills Pvt Ltd     LT Bk Fac          CARE BBB+      374.5   Revised from
                                                                                CARE BBB
reduced from 38.72 CR
Delhi Msw Solutions Ltd               LT Bk Fac^         CARE BBB- (SO) 1995.1  Assigned
^Backed by unconditional and irrevocable corporate guarantee of Ramky Enviro Engineers Limited
(rated CARE BBB- , CARE A3).
Jain Sons Finlease Ltd                NCD issue          CARE BBB-      1000    Reaffirmed
enhanced from 75 CR
Jsr Mulbagal Tollways P Ltd.          Bk Fac             --             --      Suspended
Kbs Creation                          Bk Fac             CARE BBB+ /A2+ 150     Reaffirmed
Menon Pistons Ltd                     LT Bk Fac          CARE BBB+      250     Reaffirmed
Muralidhar Agro Food Pvt Ltd          LT Bk Fac          CARE B+        70      Reaffirmed
P.D. Agrawal Infrastructure Ltd       LT Bk Fac          CARE BBB+      265.2   Reaffirmed
Reduced from Rs.25.99 crore
P.D. Agrawal Infrastructure Ltd       Bk Fac             CARE BBB+ /A2  950     Reaffirmed
Enhanced from Rs.55 crore
Premium Harvest Ltd                   LT Bk Fac          CARE BB        130     Assigned
Radhegovindkripa Developers Pvt Ltd   LT Bk Fac          CARE BB-       652.6   Reaffirmed
Rawalwasia Textile Industries Pvt Ltd Bk Fac             CARE BB- /A4   130     Reaffirmed
Rawalwasia Yarn Dyeing Pvt Ltd        LT Bk Fac          CARE BB-       79.1    Reaffirmed
reduced from 9.75 CR
Rawalwasia Yarn Dyeing Pvt Ltd        Bk Fac             CARE BB- /A4   120     Reaffirmed
Regen Powertech Pvt Ltd               LT Bk Fac - CC     CARE BBB-      3500    Suspension
                                                                                Revoked;
                                                                                Revised from
                                                                                CARE BB/A4
Regen Powertech Pvt Ltd               LT Bk Fac          CARE BBB-      376.4   Suspension
                                      (External                                 Revoked;
                                      Commercial Borrowings)                    Revised from
                                                                                CARE BB/A4
Regen Powertech Pvt Ltd               LT Bk Fac (Rupee   CARE BBB-      250     Suspension
                                      TL)                                       Revoked;
                                                                                Revised from
                                                                                CARE BB/A4
Regen Powertech Pvt Ltd               ST Bk Fac (Fund    CARE BBB-      500     Suspension
                                      Based)                                    Revoked;
                                                                                Revised from
                                                                                CARE BB/A4
Regen Powertech Pvt Ltd               LT Bk Fac (Fund    CARE BBB- (SO) 200     Suspension
                                      Based)- CC                                revoked;
                                                                                Revised from
                                                                                CARE BB (SO)/ A4
(SO)
Regen Powertech Pvt Ltd               Long/ST Bk Fac     CARE BBB- /A3  3100    Suspension
                                      (Non-Fund Based)-                         Revoked;
                                      LC/BG                                     Revised from
                                                                                CARE BB/A4
Regen Powertech Pvt Ltd               Short/LT Bk Fac    CARE BBB- /A3  3150    Suspension
                                      (Non Fund Based) -                        Revoked;
                                      LC/BG                                     Revised from
                                                                                CARE BB/A4
Regen Powertech Pvt Ltd               Proposed Long/ST   CARE BBB- /A3  3100    Suspension
                                      Bk Fac                                    Revoked;
                                                                                Revised from
                                                                                CARE BB/A4
Santhoshimathaa Oils And Fats Pvt Ltd LT Bk Fac          CARE BB+       187     Reaffirmed
enhanced from 9.10 CR
Siesta Laminates Pvt Ltd              LT Bk Fac          CARE BB-       78.4    Assigned
Suzlon Energy Ltd.                    Proposed LT/ST Bk  CARE A+ (SO)   13000   Provisional
                                      Fac                /A1+ (SO)
Talwalkars Better Value Fitness Ltd   TL                 --             1988.7  Withdrawn
Talwalkars Better Value Fitness Ltd   Proposed NCD       --             2000    Withdrawn
Tamilnadu Petroproducts Ltd           LT Bk Fac          CARE BBB-      639.5   Reaffirmed
Tamilnadu Petroproducts Ltd           Bk Fac             CARE BBB- /A3  598.3   Reaffirmed
Tamilnadu Waste Management Ltd        LT Bk Fac          CARE BBB       259.9   Revised from
                                                                                CARE BBB-
Reduced from Rs. 40 crore
Tata Communications Ltd               NCD                CARE AA+       1550    Reaffirmed
Reduced from 210 CR
Yes Bank Ltd                          Additional Tier I  CARE AA        15000   Assigned
                                      Bonds (Basel III)

--------------------------------------------------------------------------------------------
$: 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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