January 11, 2017 / 5:02 AM / 7 months ago

CARE ratings for Indian debt instruments-Jan 11

Jan 11 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 10, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Allanasons Pvt Ltd                    ST Bk Fac          CARE A1+       22000   Reaffirmed
(enhanced from 1400.00crs)
Amcon Construction Company            ST Bk Fac          CARE A4        40      Assigned
Bhagawati Estate Warehouse            ST Bk Fac          CARE A4        21      Reaffirmed
(Ashoknagar)
(enhanced from 1.60cr)
Bhagyanagar Gas Ltd                   ST Bk Fac          CARE A1        180     Assigned
Caprihans India Ltd                   ST Bk Fac (Non-FB) CARE A2+       202.5   Reaffirmed
(Enhanced from 17.25 crore)
Exel Rubber Ltd                       ST Bk Fac          CARE A1+       551.5   Reaffirmed
Jsw Infrastructure Ltd                ST Bk Fac          CARE A1        600     Reaffirmed
Ju Agri Sciences Pvt Ltd              ST Bk Fac          CARE A3+       450     Reaffirmed
(enhanced from 40cr)
Kilpest India Ltd                     ST Bk Fac          CARE A4        17.5    Reaffirmed
Mantena Infra Llp                     ST Bk Fac          CARE A3+       310     Reaffirmed
Megha Fibre Glass Industries Ltd      ST Bk Fac          CARE A3+       100     Reaffirmed
Nandan Petrochem Ltd                  ST-                CARE A4+       20      Assigned
                                      Non-fundbased-BG
Natraj Polyplast Pvt Ltd              ST Bk Fac          CARE A4        5       Assigned
Sealwel Corporation Pvt Ltd           ST Bk Fac          CARE A2        765     Reaffirmed
Shri Amol Agrawal                     ST Bk Fac          CARE A4        42      Reaffirmed
Silver Star Exports                   ST Bk Fac          CARE A2        180     Reaffirmed
Sita Ram & Company Pvt Ltd            ST Bk Fac          CARE A3        600     Reaffirmed
Subharti Kkb Charitable Trust         ST Bk Fac          CARE A3        625     Reaffirmed
Virtue Marketing Pvt Ltd              ST Bk Fac          CARE A4+       200     Reaffirmed

LONG TERM RATINGS:
-------------------
Agile Electric Sub Assembly Pvt Ltd   LT Bk Fac          CARE A+        970     Revised from
                                                                                CARE A
Agile Electric Sub Assembly Pvt Ltd   Long/ST Bk Fac     CARE A+/CARE   785     Revised from
                                                         A1+                    CARE A/ CARE
                                                                                A1
Agrawal Automobiles                   LT Bk Fac          CARE BB-       100     Reaffirmed
Agrawal Automobiles                   LT/ ST Bk Fac      CARE BB- /CARE 2       Reaffirmed
                                                         A4
Amcon Construction Company            LT Bk Fac          CARE B+        20      Assigned
Bhagawati Estate Warehouse            Long -term Bk Fac  CARE B+        35.3    Reaffirmed
(Ashoknagar)    
(reduced from 4.55cr)
Bhagyanagar Gas Ltd                   LT Bk Fac          CARE A+        7820    Reaffirmed
Caprihans India Ltd                   Long / ST Bk Fac   CARE A-/CARE   10      Reaffirmed
                                      (FB)               A2+
(Reduced from 5.00 crore)
Dasve Hospitality Institutes Ltd      LT Bk Fac          -              -       Withdrawal
(reduced from 23.97cr)
Exel Rubber Ltd                       LT Bk Fac          CARE A+        70      Reaffirmed
Greenesol Power Systems Pvt Ltd       LT Bk Fac          CARE BB        110     Revised from
                                                                                CARE BBB-
Greenesol Power Systems Pvt Ltd       LT/ST Bk Fac       CARE BB /CARE  640     Revised from
                                                         A4                     CARE
                                                                                BBB-/CARE A3
Gvk Power (Goindwal Sahib) Ltd        LT Bk Fac          CARE D         24000   Reaffirmed
Gvk Power (Goindwal Sahib) Ltd        ST Bk Fac          CARE D         405     Reaffirmed
Hyderabad Ring Road Project Pvt Ltd   LT Bk Fac          CARE D         2651.3  Reaffirmed
Igarashi Motors India Ltd             LT Bk Fac          CARE A+        970     Revised from
                                                                                CARE A
Igarashi Motors India Ltd             Long/ST Bk Fac     CARE A+ /CARE  785     Revised from
                                                         A1+                    CARE A/ CARE
                                                                                A1
J.C. Brothers Retail Pvt Ltd          LT Bk Fac          CARE BBB-      496.1   Reaffirmed
(reduced from Rs.56 crore)
Jsw Infrastructure Ltd                LT Bk Fac          CARE A+        1160    Reaffirmed
(reduced from Rs 127 crore)
Ju Agri Sciences Pvt Ltd              LT Bk Fac          CARE BBB+      150     Reaffirmed
Kilpest India Ltd                     LT Bk Fac          CARE BB-       42.5    Reaffirmed
Long Term Non-Convertible Debenture   LT NCD             CARE A+        2410    Reaffirmed
(reduced from Rs 262 crores)
Mantena Infra Llp                     LT Bk Fac          CARE BBB+      300     Revised from
                                                                                CARE BBB
Megha Fibre Glass Industries Ltd      LT Bk Fac          CARE BBB+      20      Reaffirmed
Nandan Petrochem Ltd                  LT Bk FacFB-CC     CARE BB+       400     Assigned
Nandan Petrochem Ltd                  LT Bk FacFB- TL    CARE BB+       50      Assigned
Nandan Petrochem Ltd                  LT Bk FacFB -      CARE BB+       30      Assigned
                                      Proposed
Natraj Polyplast Pvt Ltd              LT Bk Fac          CARE B+        112.5   Assigned
Pioneer Builderrs Ltd                 LT Bk Fac          CARE BBB-      700     Reaffirmed
Radiant Corporation Pvt Ltd           LT Bk Fac          CARE A+        9.5     Reaffirmed
Radiant Corporation Pvt Ltd           Long/ST Bk Fac     CARE A+ /CARE  500     Reaffirmed
                                                         A1+
(reduced from 69.00crs)
Radiant Plastic Industries Pvt Ltd    LT/ST Bk Fac       CARE BB- /CARE 65      Assigned
                                                         A4
Robo Silicon Pvt Ltd                  LT Bk Fac          CARE BB        240     Assigned
Ruchi Soya Industries Ltd             LT Bk Fac          CARE D         34242.4 Reaffirmed
(reduced from Rs.3,794.71 crore)
Ruchi Soya Industries Ltd             LT / ST Bk Fac     CARE D         64909.5 Reaffirmed
(reduced from Rs.6,931.40 crore)
Ruchi Worldwide Ltd                   LT / ST Bk Fac     CARE D         8350    Reaffirmed
(reduced from Rs.1,200.00 crore)
Satin Creditcare Network Ltd          LT Bk Fac          CARE A-        22000   Reaffirmed
Satin Creditcare Network Ltd          NCD                CARE A-        250     Reaffirmed
Satin Creditcare Network Ltd          NCD                CARE A-        250     Reaffirmed
Satin Creditcare Network Ltd          NCD                CARE A-        180     Reaffirmed
Satin Creditcare Network Ltd          NCD                CARE A-        500     Reaffirmed
Satin Creditcare Network Ltd          NCD                CARE A-        515     Reaffirmed
Satin Creditcare Network Ltd          NCD                CARE A-        262.8   Reaffirmed
Satin Creditcare Network Ltd          NCD                CARE A-        500     Reaffirmed
Satin Creditcare Network Ltd          NCD                CARE A-        464.4   Reaffirmed
Satin Creditcare Network Ltd          NCD                CARE A-        250     Reaffirmed
Satin Creditcare Network Ltd          NCD                CARE A-        70^     Reaffirmed
Satin Creditcare Network Ltd          NCD - Subordinated CARE BBB+      210     Reaffirmed
                                      Debentures
Satin Creditcare Network Ltd          Preference Share   CARE BBB+ 250     Reaffirmed
                                      Capital
Sealwel Corporation Pvt Ltd           LT Bk Fac          CARE A-        215     Reaffirmed
Shri Amol Agrawal                     LT Bk Fac          CARE BB        25      Reaffirmed
Sita Ram & Company Pvt Ltd            LT Bk Fac          CARE BBB-      40      Reaffirmed
Subharti Kkb Charitable Trust         LT Bk Fac          CARE BBB-      256.5   Reaffirmed
Subharti Kkb Charitable Trust         LT/ST Bk Fac       CARE BBB-      207.6   Reaffirmed
                                                         /CARE A3
Supersonic Distributors And Services  LT/ST Bk Fac       CARE BB- /CARE 300     Assigned
Pvt Ltd                                                  A4
Swaraj Suitings Pvt Ltd               LT Bk Fac          CARE BB        225.7   Reaffirmed
Tarapore And Company                  LT Bk Fac          CARE A-        250     Reaffirmed
Ujjwal Luxury Hotels Pvt Ltd          LT Bk Fac          CARE B         124.1   Reaffirmed
Virtue Marketing Pvt Ltd              LT Bk Fac          CARE BB+       150     Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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