Reuters logo
CARE ratings for Indian debt instruments-Dec 28
December 28, 2016 / 6:15 AM / 9 months ago

CARE ratings for Indian debt instruments-Dec 28

Dec 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 27, 2016.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ala Chemicals Pvt Ltd                 ST Bk Fac - Non-FB CARE A3 (SO)   300     Reaffirmed
                                      - LC/BG*
*The above ratings are based on the credit enhancement in the form of unconditional and
irrevocable Corporate Guarantee extended by Lalitha Chem Industries Pvt Ltd to the lenders of
ALA Chemicals Pvt Ltd for payment of the obligations on the bank facilities. 

Harsha Liners Pvt Ltd                 ST Bk Fac          CARE A3+ (SO)  5       Assigned

Honour Lab Ltd                        ST Bk Fac          CARE A3+       1450    Reaffirmed
Kasuya Gpp Auto Products Pvt Ltd      ST Bk Fac          CARE A3        30      Reaffirmed
Kesar Terminals And Infrastructure LtdST Bk Fac -        CARE A4 (SO)   90      Revised from
                                      Non-fundbased                             CARE A3 (SO)
                                      Limits*
*Backed by unconditional and irrevocable corporate guarantee of Kesar Terminals and
Infrastructure Limited (KTIL)

Kusalava Batteries Pvt Ltd            ST Bk Fac@         CARE A3+ (SO)  5       Assigned
@backed by the unconditional and irrevocable corporate guarantee extended by Kusalava
International Limited (rated CARE BBB; Positive/CARE A3+ )
Kusalava International Ltd            ST Bk Fac          CARE A3+       90      Reaffirmed
enhanced from 8.50 CR
Lalitha Chem Industries Pvt Ltd       ST Bk Fac - Non-FB CARE A3        652.5   Reaffirmed
                                      - LC/BG
Om Logistics Ltd                      ST Bk Fac          CARE A1+       60      Reaffirmed
enhanced from 3.75 CR
Om Logistics Ltd                      CP                 CARE A1+       200     Reaffirmed
Perfect Ply Industries Pvt Ltd        ST Bk Fac          CARE A4        10      Assigned
Ruchi Infrastructure Ltd.             ST Bk Fac          CARE D         1600    Revised from
                                                                                CARE A2
Subray Catal Chem Pvt Ltd             ST Bk Fac - Non-FB CARE A3 (SO)   302.5   Assigned
                                      - LC/BG*
*The above ratings are based on the credit enhancement in the form of unconditional and
irrevocable Corporate Guarantee extended by Lalitha Chem Industries Pvt Ltd to the lenders of
Subray Catal Chem Pvt Ltd for payment of the obligations on the bank facilities. 

Subray Catal Chem Pvt Ltd             ST Bk Fac-         CARE A3 (SO)   0.5     Assigned
                                      NFB-Proposed**
** The above rating is based on the credit enhancement in the form of the proposed unconditional
and irrevocable Corporate Guarantee to be extended by Lalitha Chem Industries Pvt Ltd to the
lenders of Subray Catal Chem Pvt Ltd for payment of the obligations on the bank facilities.

Zenith Metaplast Pvt Ltd              ST Bk Fac          CARE A4        180     Reaffirmed

LONG TERM RATINGS:
-------------------
Acecons Mining And Logistics Pvt Ltd  Bk Fac             -              -       Suspended
Akshata Mercantile Pvt Ltd            Bk Fac             -              -       Suspended
Ala Chemicals Pvt Ltd                 LT Bk Fac - FB -CC*CARE BBB- (SO) 100     Reaffirmed
*The above ratings are based on the credit enhancement in the form of unconditional and
irrevocable Corporate Guarantee extended by Lalitha Chem Industries Pvt Ltd to the lenders of
ALA Chemicals Pvt Ltd for payment of the obligations on the bank facilities.
Alpine Expo Tex Pvt Ltd               Long -term Bk Fac  CARE BB-       186.5   Assigned
Ambala Coach Builders                 Bk Fac             -              -       Suspended
Amsat Industries Pvt Ltd              Bk Fac             -              -       Suspended
Anand Ispat Udyog Ltd                 Bk Fac             -              -       Suspended
Anand Metallics & Power Pvt Ltd       Bk Fac             -              -       Suspended
Autobahn Automotive Pvt Ltd           Bk Fac             -              -       Suspended
Autobahn Enterprises Pvt Ltd          Bk Fac             -              -       Suspended
Aziz Memorial Charitable Trust        Bk Fac             -              -       Suspended
Bdh Enterprises (India)               Bk Fac             -              -       Suspended
Captain Ramesh Rice Mills Pvt Ltd     Bk Fac             -              -       Suspended
Champalal Motilal Steel Company Pvt LtBk Fac             -              -       Suspended
Copper Strips Pvt Ltd                 Bk Fac             -              -       Withdrawn
Coreline Exports                      Bk Fac             -              -       Suspended
Delhi Sanskar Bharti Shiksha Samiti   Bk Fac             -              -       Suspended
Elin Electronics Ltd                  Bk Fac             -              -       Suspended
Eskay Elevator (India) Pvt. Ltd.      Bk Fac             -              -       Suspended
Ganga Sheel Charitable Trust          Bk Fac             -              -       Suspended
Gdr Home Style Pvt Ltd                Bk Fac             -              -       Suspended
Girnar Hosiery Works                  Bk Fac             -              -       Suspended
Harsha Liners Pvt Ltd                 LT Bk Fac          CARE BBB (SO)  64.5    Assigned
reduced from 10 CR
Honour Lab Ltd                        Long -term Bk Fac  CARE BBB+      4218.9  Reaffirmed
Reduced from Rs.438.14 crore
Imperial Fabrics Pvt Ltd              Bk Fac             -              -       Suspended
Indian Cane Power Ltd                 Bk Fac             -              -       Suspended
J D Sons Steels Pvt Ltd               Bk Fac             -              -       Suspended
Jay Builders                          Bk Fac             -              -       Suspended
Jps Life Sciences Pvt Ltd             Bk Fac             -              -       Suspended
K. C. Automart Pvt Ltd                Bk Fac             -              -       Suspended
Kasuya Gpp Auto Products Pvt Ltd      LT Bk Fac          CARE BBB-      45      Reaffirmed
Kesar Terminals And Infrastructure LtdLT Bk Fac - TL*    CARE BB+ (SO)  991.1   Revised from
                                                                                CARE BBB- (SO)
*Backed by unconditional and irrevocable corporate guarantee of Kesar Terminals and
Infrastructure Limited (KTIL)
Krish Ispat Company Ltd               Bk Fac             -              -       Suspended
Krishna Tissues Pvt. Ltd              Bk Fac             -              -       Suspended
Kusalava Batteries Pvt Ltd            LT Bk Fac@         CARE BBB (SO)  80      Assigned
@backed by the unconditional and irrevocable corporate guarantee extended by Kusalava
International Limited (rated CARE BBB; Positive/CARE A3+)
Kusalava International Ltd            LT Bk Fac          CARE BBB       425     Reaffirmed
enhanced from 38.76 CR
Lakra Industries Ltd                  Bk Fac             -              -       Suspended
Lalitha Chem Industries Pvt Ltd       LT Bk Fac - FB -CC CARE BBB-      230     Reaffirmed
Lucky Engineering Company             Bk Fac             -              -       Suspended
Madhya Pradesh Cupro Metals Pvt Ltd   Bk Fac             -              -       Withdrawn
Narayana Agro Oils Priavte Ltd        Long -term Bk Fac  CARE BB-       205.6   Revised from
                                                                                CARE B+
Netra Mercantile Pvt Ltd              Bk Fac             -              -       Suspended
Nikka Mal Pyare Lal Jain              Bk Fac             -              -       Suspended
Om Logistics Ltd                      LT Bk Fac          CARE AA-       1955    Reaffirmed
enhanced from 185.50 CR
Parivartan Buildtech Pvt Ltd          LT Bk Fac          CARE BB+       100     Assigned
Parivartan Buildtech Pvt Ltd          Bk Fac             CARE BB+ /A4+  250     Assigned
Perfect Ply Industries Pvt Ltd        LT Bk Fac          CARE B+        73.8    Assigned
Pheonix Impex Pvt Ltd                 Bk Fac             -              -       Suspended
Poscho Steel Pvt Ltd                  Bk Fac             -              -       Suspended
Prakash Woollen Mills Ltd             Bk Fac             -              -       Suspended
R. Kantilal And Company               Bk Fac             -              -       Suspended
Ruchi Infrastructure Ltd              Bk Fac             -              -       Withdrawn
Sahakar Maharshi Shankarrao Mohite    Long -term Bk Fac  CARE B+        350     Revised from
Patil Ssk Ltd                                                                   CARE B-
Saikrupa Cotgin Pvt Ltd               LT Bk Fac          CARE BB-       305     Assigned
Saikrupa Fibers Pvt Ltd               LT Bk Fac          CARE B         171.2   Assigned
Sipping Spirits Pvt Ltd               Bk Fac             -              -       Withdrawn
Sita Maa Rice Mill                    Bk Fac             -              -       Suspended
Smt. Tarawanti Educational Trust      Bk Fac             -              -       Suspended
Spiro Lifecare Pvt Ltd                Bk Fac             -              -       Withdrawn
Subray Catal Chem Pvt Ltd             LT Bk Fac - FB -CC*CARE BBB- (SO) 87      Assigned
*The above ratings are based on the credit enhancement in the form of unconditional and
irrevocable Corporate Guarantee extended by Lalitha Chem Industries Pvt Ltd to the lenders of
Subray Catal Chem Pvt Ltd for payment of the obligations on the bank facilities.
Sunshine Educational And Development  Bk Fac             -              -       Suspended
Society
Swapna Projects Pvt Ltd               Bk Fac             -              -       Suspended
Talwalkars Better Value Fitness Ltd   LT NCDs -III       CARE AA        250     Reaffirmed
Talwalkars Better Value Fitness Ltd   LT NCDs - IV       CARE AA        250     Reaffirmed
Talwalkars Better Value Fitness Ltd   LT NCDs - V        CARE AA        250     Reaffirmed
Talwalkars Better Value Fitness Ltd   LT NCDs - VI       CARE AA        250     Reaffirmed
Talwalkars Better Value Fitness Ltd   LT NCDs - VII      CARE AA        250     Reaffirmed
Talwalkars Better Value Fitness Ltd   LT NCDs - VIII     CARE AA        200     Reaffirmed
Talwalkars Better Value Fitness Ltd   LT NCDs - IX       CARE AA        300     Reaffirmed
Talwalkars Better Value Fitness Ltd   LT NCDs - X        CARE AA        500     Reaffirmed
                                      (proposed)
Topworth Tollways (Ujjain) Pvt Ltd    Bk Fac             -              -       Suspended
United Chloro Paraffins Pvt Ltd.      Bk Fac             -              -       Suspended
Wonder Industries Pvt. Ltd.           LT Bk Fac          CARE BB-       92      Revised from
                                                                                CARE BB
reduced from Rs.10.37 crore
Zenith Metaplast Pvt Ltd              LT Bk Fac          CARE BB-       455.5   Revised from
                                                                                CARE BB
Reduced from Rs.51.31 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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below