Reuters logo
CARE ratings for Indian debt instruments-Feb 6
February 6, 2017 / 5:26 AM / 7 months ago

CARE ratings for Indian debt instruments-Feb 6

Feb 6 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 3, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bharat Electrical Contractors &       ST Bk Fac (Non     CARE A3        1710    Reaffirmed
Mandhana Industries Ltd               ST Bk Fac          CARE D         875     Reaffirmed
Manufacturers Pvt Ltd                 Fund Based)
Conffi Sanitaryware Pvt Ltd           ST Bk Fac          CARE A4        10.8    Reaffirmed
Finepac Structures Pvt Ltd            ST Bk Fac          CARE A4        69      Reaffirmed

Ganga R K Industries Pvt Ltd          ST Bk Fac          CARE A4        15      Reaffirmed
Garware Polyester Ltd                 ST Bk Fac          CARE A2+       4899    Revised from
                                                                                CARE A2
Gem Aromatics Pvt Ltd                 ST Bk Fac          CARE A4        20      Reaffirmed
[Reduced from Rs.5.00 crore]
Glass Wall Systems India Pvt Ltd      ST Bk Fac-LC/BG    CARE A3+       1400    Revised from
                                                                                CARE A2
Indian Designs Exports Pvt Ltd        ST Bk Fac          CARE A2        1626.8  Reaffirmed
(enhanced from 50.00crs)
Kalki Communication Technologies Pvt  ST Bk Fac          CARE A4+       72.5    Reaffirmed
Ltd    
Kankariya Textile Industries Pvt Ltd  ST Bk Fac          CARE A3+       15      Reaffirmed
Kannu Aditya India Ltd                ST Bk Fac          CARE A4+       750     Revised from
                                                                                CARE A3
Kishore Vadilal Pvt Ltd               ST Bk Fac          CARE A3        40      Reaffirmed
Kotecha Steel Forge Pvt Ltd           ST Bk Fac          CARE A4        9.5     Reaffirmed
Maheshwari Woods Pvt Ltd              ST Bk Fac          CARE A4        100     Reaffirmed
(enhanced from 6.00crs)
Mayuresh Protenz Pvt Ltd              ST Bk Fac          CARE A4        4.6     Reaffirmed
Parth Infrastructure Pvt Ltd          ST Bk Fac          CARE A4+       88      Revised from
                                                                                CARE A4
R.R. Ornaments Pvt Ltd                ST Bk Fac          CARE A4        6       Reaffirmed
Santosh Beej Bhandar                  Short -term Bk Fac CARE A4        5       Assigned
Shakti Industries                     ST Bk Fac          CARE A4        120     Assigned
Shirdi Sai Electricals Ltd            ST Bk Fac          CARE A2+       1597.5  Reaffirmed
Shree Hari Spintex Ltd                ST Bk Fac          CARE A4        5       Reaffirmed
(Reduced from 2.00crs)
Steel Forge And Cast Industries       ST Bk Fac          CARE A4        15      Reaffirmed
Technocon Constructions &             ST Bk Fac          CARE A4        40      Reaffirmed
Infrastructure Pvt Ltd
Vascular Concepts Ltd                 ST Bk Fac          CARE A3        60      Reaffirmed

LONG TERM RATINGS:
-------------------
Acme Solar Energy (Madhya Pradesh) PvtLT Bk Fac          -              -       Withdrawn
Ltd
Acme Solar Technologies (Gujarat) Pvt LT Bk Fac          -              -       Withdrawn
Ltd
Ahluwalia Contracts (India) Ltd       LT Bk Fac          CARE A         1500    Reaffirmed
Ahluwalia Contracts (India) Ltd       Long/ST Bk Fac     CARE A /CARE   7450    Reaffirmed
                                                         A1
Bharat Electrical Contractors &       LT Bk Fac (Fund    CARE BBB-      400     Reaffirmed
Manufacturers Pvt Ltd                 Based)
Conffi Sanitaryware Pvt Ltd           LT Bk Fac          CARE BB+       115.9   Revised from
                                                                                CARE BB
Dev Bhumi Cold Chain Pvt Ltd          LT Bk Fac          CARE BB        641.4   Reaffirmed
(reduced from 72.59crs)
Finepac Structures Pvt Ltd            LT Bk Fac          CARE BB        74      Reaffirmed
Ganesham Electrotech Supermarket Pvt LLT Bk Fac          CARE BB        140     Reaffirmed
Ganga R K Industries Pvt Ltd          LT/ ST Bk Fac      CARE BB- /CARE 70      Revised from
                                                         A4                     CARE B+/ CARE
                                                                                A4
Gannon Dunkerley & Co. Ltd            LT Bk Fac (Fund    CARE BBB+      2500    Revised from
                                      based)                                    CARE A-
Gannon Dunkerley & Co. Ltd            LT Bk Fac (TL)     CARE BBB+      2083.9  Revised from
                                                                                CARE A-
Gannon Dunkerley & Co. Ltd            Long/ST Bk Fac     CARE BBB+      200     Revised from
                                      (Non-fund based)   /CARE A2               CARE A- /
                                                                                CARE A2+
Gannon Dunkerley & Co. Ltd            Long/ST Bk Fac     CARE BBB+      25540.1 Revised from
                                      (Non-fund based)   /CARE A2               CARE A- /
                                                                                CARE A2+
Garware Polyester Ltd                 LT Bk Fac          CARE A-        856.4   Revised from
                                                                                CARE BBB+
Garware Polyester Ltd                 LT/ST Bk Fac       CARE A- /CARE  898.4   Revised from
                                                         A2+                    CARE BBB+/
                                                                                CARE A2
Gem Aromatics Pvt Ltd                 LT Bk Fac          CARE BB        299.4   Reaffirmed
(Enhanced from Rs.20.72 crore)
Glass Wall Systems India Pvt Ltd      LT Bk Fac-CC       CARE BBB+      650     Revised from
                                                                                CARE A-
Indian Designs Exports Pvt Ltd        LT Bk Fac          CARE BBB+      445.2   Reaffirmed
(reduced from 47.32crs)
Jaypee Healthcare Ltd                 LT Bk Fac          CARE D         4500    Revised from
                                                                                CARE BB
Kalki Communication Technologies Pvt  LT Bk Fac          CARE BB+       118.7   Reaffirmed
Ltd    
(reduced from 13.69crs)
Kandla Packaging Pvt Ltd              LT Bk Fac          CARE B+        120     Assigned
Kankariya Textile Industries Pvt Ltd  LT Bk Fac          CARE BBB       104.4   Reaffirmed
Kankariya Textile Industries Pvt Ltd  LT/ ST Bk Fac      CARE BBB /CARE 160     Reaffirmed
                                                         A3+
Kannu Aditya India Ltd                LT/ST Bk Fac       CARE BB+ /CARE 2000    Revised from
                                                         A4+                    CARE BBB-
                                                                                /CARE A3
Kirloskar Institute Of Advanced       LT Bk Fac          CARE BBB       63.5    Reaffirmed
Management Studies
(reduced from 8.35crs)
Kishore Vadilal Pvt Ltd               LT Bk Fac          CARE BBB-      30      Reaffirmed
Kishore Vadilal Pvt Ltd               LT / ST Bk Fac     CARE BBB-      15      Reaffirmed
                                                         /CARE A3
Kotecha Steel Forge Pvt Ltd           LT/ Shortterm Bk   CARE BB- /CARE 50      Revised from
                                      Fac                A4                     CARE B+ /
                                                                                CARE A4
Maheshwari Woods Pvt Ltd              LT Bk Fac          CARE BB        106.5   Reaffirmed
(enhanced from 5.50crs)
Maithon Power Ltd                     LT/ST Bk Fac       CARE AA /CARE  400     Revised from
                                                         A1+                    CARE AA- /
                                                                                Reaffirmed
Mandhana Industries Ltd               LT Bk Fac          CARE D         8796.3  Reaffirmed
Mandhana Industries Ltd               NCDs               CARE D         570     Revised from
                                                                                CARE C
Mayuresh Protenz Pvt Ltd              LT Bk Fac          CARE BB-       200     Reaffirmed
Meghmani Organics Ltd.                NCD issue          -              -       Withdrawn
Meghmani Organics Ltd.                CP (CP) issue*     -              -       Withdrawn
*carved out of the sanctioned working capital limits of the company
Monsoon Palace Resorts Pvt Ltd        LT Bk Fac          CARE BBB-      130     Revised from
                                                                                CARE BB+
(Reduced from 17.52 crs)
Parth Infrastructure Pvt Ltd          LT Bk Fac          CARE BB+       30      Reaffirmed
R.R. Ornaments Pvt Ltd                LT Bk Fac          CARE B+        67.6    Reaffirmed
S.S.S. Fibre Ltd                      LT Bk Fac          CARE BB+       64      Assigned
Santosh Beej Bhandar                  Long -term Bk Fac  CARE BB        145     Assigned
Shakti Industries                     LT Bk Fac          CARE BB-       163.2   Assigned
Shirdi Sai Electricals Ltd            LT Bk Fac          CARE A         1100    Revised from
                                                                                CARE A-
Shirdi Sai Electricals Ltd            LT/ST Bk Fac       CARE A /CARE   5120    Revised from
                                                         A2+                    CARE A- /
                                                                                CARE A2+
Shree Hari Spintex Ltd                LT Bk Fac          CARE BB-       169.2   Reaffirmed
(Reduced from 20.44crs)
Shree Jeenmata Dyeing & Printing MillsLT Bk Fac          CARE BB+;      97.6    Revised from
Pvt Ltd                                                                         CARE BB
(reduced from 11.75crs)
Shri Lal Mahal Ltd                    LT Bk Fac (TL)     CARE BB+       167.3   Revised from
                                                                                CARE BBB-
Shri Lal Mahal Ltd                    LT/ST Bk Fac (Non  CARE BB+ /CARE 2930    Revised from
                                      Fund Based)        A4+                    CARE BBB-
                                                                                /CARE A3
Shri Lal Mahal Ltd                    LT/ST Bk Fac (Fund CARE BB+ /CARE 8402.7  Revised from
                                      Based)             A4+                    CARE BBB-
                                                                                /CARE A3
Shyam Dhani Industries Pvt Ltd        LT Bk Fac          CARE B+        77.3    Reaffirmed
Srg Housing Finance Ltd.              LT Bk Fac          CARE BB+       350.4   Reaffirmed
Steel Forge And Cast Industries       LT/ ST Bk Fac      CARE BB- /CARE 45      Revised from
                                                         A4                     CARE B+/ CARE
                                                                                A4
Surya Manufacturing Pvt Ltd           LT Bk Fac          CARE BBB-      240     Reaffirmed
Technocon Constructions &             LT Bk Fac          CARE BB;       20      Reaffirmed
Infrastructure Pvt Ltd
The Tata Power Co. Ltd                Perpetual Bonds    CARE AA        15000   Reaffirmed
The Tata Power Co. Ltd                NCDs               CARE AA        5000    Reaffirmed
The Tata Power Co. Ltd                NCDs - I           CARE AA        2100    Reaffirmed
The Tata Power Co. Ltd                NCDs - II          CARE AA        15000   Reaffirmed
The Tata Power Co. Ltd                Hybrid Bond        CARE AA        15000   Reaffirmed
Vascular Concepts Ltd                 LT Bk Fac          CARE BBB-      220     Reaffirmed
Venus Worldwide Entertainment Pvt Ltd LT Bk Fac          -              -       Withdrawn
--------------------------------------------------------------------------------------------
$: 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