December 29, 2016 / 7:34 AM / 7 months ago

CARE ratings for Indian debt instruments-Dec 29

14 Min Read

Dec 29 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 28, 2016.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Apollo Rajshree Hospitals Pvt Ltd     ST Bk Fac          CARE A1+ (SO)  45      Reaffirmed
(Enhanced from Rs.3.00 Crore)
Chandra Electronic Appliances Pvt Ltd ST Bk Fac          CARE A4        4       Reaffirmed
Friends Timber Pvt Ltd                ST Bk Fac          CARE A4        162.5   Reaffirmed

Future Consumer Ltd                   ST Bk Fac (FB)     CARE A1        200     Reaffirmed
Future Consumer Ltd                   ST Bk Facility     CARE A1        400     Reaffirmed
                                      (Non-fundbased)
Global Ceramics Pvt Ltd               ST Bk Fac          CARE A4+       60      Assigned
Global Jewellery Pvt Ltd              ST Bk Fac          CARE A4        5       Reaffirmed
High Breetd Fashions                  ST Bk Fac          CARE A4        95      Reaffirmed
Integrated Fire Protection Pvt Ltd    ST Bk Facility     CARE A4+       58.5    Reaffirmed
K.H.T. Agencies Pvt Ltd               ST Bk Fac          CARE A4        400     Reaffirmed
(enhanced from Rs.22.00 crore)
Kanyaka Parameshwari Engineering Ltd  ST Bk Fac          CARE A3+       210     Revised from
                                                                                CARE A3
Rani Sati Agro Food Pvt Ltd           ST Bk Fac          CARE A4        90      Assigned
Wockhardt Ltd                         ST Bk Fac (Non     CARE A1+       5963    Reaffirmed
                                      Fund Based)

LONG TERM RATINGS:
-------------------
Agrawal Channel Mills Pvt. Ltd        Bk Fac             -              -       Withdrawn
Apollo Rajshree Hospitals Pvt Ltd     LT Bk Fac          CARE AA- (SO)  450     Reaffirmed
Bee & Bee Investments                 Bk Fac             -              -       Suspended
Bharat Engineering Works              Bk Fac             -              -       Suspended
Chandra Electronic Appliances Pvt Ltd Long -term Bk Fac  CARE BB        140.7   Reaffirmed
(Enhanced from 13.35 CR)
Chottanikkarai Amman Road Transport   Bk Fac             -              -       Suspended
D.E.C. Infrastructure & Projects      LT Bk Fac          CARE A-        400     Revised from
(India) Pvt. Ltd                                                                CARE BBB+
D.E.C. Infrastructure & Projects      LT/ ST Bk Fac      CARE A-/CARE   1200    Revised from
(India) Pvt. Ltd                                         A2+                    CARE BBB+ /
                                                                                CARE A3+
(reduced from 135cr)
Deepika Infratech Pvt Ltd             Bk Fac             -              -       Suspended
Eco Organics                          Bk Fac             -              -       Suspended
Foresight Bullion India Pvt Ltd       Long -term Bk Fac  CARE BBB-      350     Reaffirmed
Friends Timber Pvt Ltd                LT Bk Fac          CARE B+        60      Reaffirmed
Future Consumer Ltd                   LT Bk Fac (FB)     CARE A         2400    Reaffirmed
Future Consumer Ltd                   LT Bk Facility (TL)CARE A         270     Assigned
Future Consumer Ltd                   NCD                CARE A         100     Reaffirmed
Future Consumer Ltd                   Long/ST Bk Fac     CARE A/CARE A1 400     Reaffirmed
                                      (Fundbased)
Global Ceramics Pvt Ltd               Long -term Bk Fac  CARE BB+       90      Assigned
Global Jewellery Pvt Ltd              Long -term Bk Fac  CARE B+        95      Revised from
                                                                                CARE B
Globe Artware Impex Pvt Ltd           Bk Fac             -              -       Suspended
Gurudeo Exports Corporation Pvt Ltd   Bk Fac             -              -       Suspended
Hatsun Agro Products Ltd              Bk Fac             -              -       Suspended
Integrated Fire Protection Pvt Ltd    LT Bk Fac          CARE BB+       27.6    Reaffirmed
(reduced from 2.78cr)
Iqbal Ahmed Infra Projects Pvt Ltd    Bk Fac             -              -       Suspended
Ispat India                           LT Bk Fac          CARE BB-       150     Assigned
Jai Multi Engineering Company         Bk Fac             -              -       Suspended
K.H.T. Agencies Pvt Ltd               LT Bk Fac          CARE BB-       344.9   Reaffirmed
(reduced from Rs.35.00 crore)
Kamal Encon Industries Ltd            Bk Fac             -              -       Suspended
Kanyaka Parameshwari Engineering Ltd  Long -term Bk Fac  CARE BBB       80      Revised from
                                                                                CARE BBB-
Kcc Buildcon Pvt Ltd                  FB- LT - CC        CARE BBB+      500     Reaffirmed
(enhanced from 40cr)
Kcc Buildcon Pvt Ltd                  Non-FB - Longterm  CARE BBB+      5000    Reaffirmed
                                      / ST BGs           /CARE A2
(enhanced from 335cr )
Kesri Steels Ltd                      Bk Fac             -              -       Suspended
Kiran Impex Pvt Ltd                   Bk Fac             -              -       Suspended
Kosmo Plastic Exports Pvt Ltd         Bk Fac             -              -       Suspended
Kotak Petro-Chem Pvt Ltd              Bk Fac             -              -       Suspended
Krishna Steel Industries              Bk Fac             -              -       Suspended
Kumar & Company                       Long -term Bk Fac  CARE BB        118.3   Revised from
                                                                                CARE B+
L&T Geostructure Llp                  LT/ST Bk Fac       CARE A /CARE   500     Revised from
                                                         A2+                    CARE A- /
                                                                                CARE A2
L&T Geostructure Llp                  Long -term Bk Fac  CARE B         330.3   Revised from
                                                                                CARE A-
M.S. Solvent Industries               Bk Fac             -              -       Suspended
Mayar Health Resorts Ltd              LT Bk Fac          CARE B+/       30.3    Reaffirmed
(enhanced from Rs.2.26 crore)
Narra Constructions Privaate Ltd      Bk Fac             -              -       Suspended
Ostro Renewables Pvt Ltd              Long -term Bk Fac  CARE BBB       1265.5  Revised from
                                                                                CARE BBB-
Paragon Metal Industries              Bk Fac             -              -       Suspended
Param Enterprises (P) Ltd             Bk Fac             -              -       Suspended
Park Felts Pvt Ltd                    Bk Fac             -              -       Suspended
Power Grid Corporation Of India Ltd   LT Bk Fac          CARE AAA       3000    Reaffirmed
Power Grid Corporation Of India Ltd   LT/ST Bk Fac       CARE AAA       22000   Reaffirmed
Power Grid Corporation Of India Ltd   LT Borrowing       CARE AAA       140000  Reaffirmed
                                      Programme for FY17
Power Grid Corporation Of India Ltd   ST Borrowing       CARE AAA       46000   Reaffirmed
                                      Programme for FY17
                                      (Including CP)
Power Grid Corporation Of India Ltd   LT Borrowing       CARE AAA       130000  Reaffirmed
                                      Programme for FY16
Power Grid Corporation Of India Ltd   ST Borrowing       CARE AAA       20000   Reaffirmed
                                      Programme for FY16
Power Grid Corporation Of India Ltd   LT Borrowing       CARE AAA       135000  Reaffirmed
                                      Programme for FY15
Power Grid Corporation Of India Ltd   LT Borrowing       CARE AAA       135000  Reaffirmed
                                      Programme for FY14
Power Grid Corporation Of India Ltd   LT Borrowing       CARE AAA       135000  Reaffirmed
                                      Programme for FY13
Power Grid Corporation Of India Ltd   LT Borrowing       CARE AAA       107000  Reaffirmed
                                      Programme for FY12
Power Grid Corporation Of India Ltd   LT Borrowing       CARE AAA       63680   Reaffirmed
                                      Programme for FY11
Power Grid Corporation Of India Ltd   LT Borrowing       CARE AAA       54150   Reaffirmed
                                      Programme for FY10
Power Grid Corporation Of India Ltd   LT Borrowing       CARE AAA       36975   Reaffirmed
                                      Programme for FY09
Power Grid Corporation Of India Ltd   LT Bond Issue      CARE AAA       9940    Reaffirmed
                                      (Series XXVI &
                                      XXVII)
Pradeep Mining And Construction Pvt   LT Bk Fac          CARE BB-       60      Reaffirmed
Ltd    
Rachhpal Auto Alliance Pvt Ltd        Bk Fac             -              -       Suspended
Rani Sati Agro Food Pvt Ltd           LT Bk Fac          CARE B+        20      Assigned
Sahasra Builders & Developers         Bk Fac             -              -       Suspended
Scholar International Education       Bk Fac             -              -       Suspended
Foundation
Shiva Satya Hotels Pvt Ltd            LT Bk Fac          CARE BB-       308.8   Revised from
                                                                                CARE B
Shree Durga Loha Bhandar Pvt Ltd      Bk Fac             -              -       Suspended
Shree Shakambari Rice Mill Pvt Ltd    Bk Fac             -              -       Suspended
Skaps Industries (India) Pvt Ltd      Bk Fac             -              -       Suspended
Srivalli Shipping And Transport Pvt LtBk Fac             -              -       Suspended
Sylvan Plyboard (India) Pvt Ltd       Bk Fac             -              -       Suspended
Tree House Education & Accessories LtdLT fund based Bk   CARE D         1028    Revised from
                                      Fac                                       CARE BB
Trycon Infrastructure Pvt. Ltd        Bk Fac             -              -       Suspended
Uco Bank                              Upper Tier II BondsCARE A+        3200    Reaffirmed
Uco Bank                              Lower Tier II BondsCARE AA-;      3750    Reaffirmed
Uic Udyog Ltd                         Bk Fac             -              -       Suspended
Winndsor Cotton Mills Privatae Ltd    Bk Fac             -              -       Suspended
Wockhardt Ltd                         NCD issue          CARE AA        2500    Reaffirmed
                                      (proposed)
Wockhardt Ltd                         LT Bk Fac (Fund    CARE AA        7662.5  Reaffirmed
                                      based)
Wyan Industries Pvt Ltd               Bk Fac             -              -       Suspended
Yamuna Industries Ltd                 Bk Fac             -              -       Suspended
--------------------------------------------------------------------------------------------
$: 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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