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CARE ratings for Indian debt instruments-Feb 16
February 16, 2017 / 5:34 AM / 8 months ago

CARE ratings for Indian debt instruments-Feb 16

    Feb 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 15, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Alpha Foam Ltd                        ST Bk Fac          CARE A3+       16      Assigned
Ambattur Clothing Pvt Ltd             ST Bk Fac          CARE A2        126     Reaffirmed
Aquatica Frozen Foods Global Pvt Ltd  ST Bk Fac          CARE A4+       380     Reaffirmed
Askar Microns Pvt Ltd                 ST Bk Fac          CARE A4        82      Reaffirmed

Chemrow India Pvt Ltd                 ST Bk Fac          CARE A4        295     Reaffirmed
E Vaidya Pvt Ltd                      ST Bk Fac          CARE A4        21.5    Assigned
Esaf Microfinance And Investments Pvt CP issue           CARE A1        3300    Assigned
Ltd
Garg Casteels Pvt Ltd                 ST Bk Fac          CARE A4        30      Reaffirmed
H.K. Designs (India)                  ST Bk Fac – Non-FB CARE A2+       38.7    Reaffirmed
Kbk Chem Engineering Pvt Ltd          ST Bk Fac          CARE A4        90      Assigned
King Refineries Pvt Ltd               ST Bk Fac          CARE A4        40      Reaffirmed
Lord Shiva Construction Company Pvt   ST Bk Fac          CARE A4        13.8    Reaffirmed
Ltd    
Muralikrishna Infracon (Bangalore) PvtST Bk Fac          CARE A4        150     Reaffirmed
Ltd
Naresh Singhal & Company              ST Bk Fac          CARE A4        45      Reaffirmed
National Bulk Handling Corporation PvtST Bk Fac          CARE A1+       3735    Reaffirmed
Ltd
National Bulk Handling Corporation PvtCP issue*          CARE A1+       350     Reaffirmed
Ltd
*Carved out of the sanctioned working capital limits of the company.
Navinchandra Laxmichand Shah          ST Bk Fac          CARE A4+       460     Reaffirmed
Prem Industries                       LT Bk Fac/ ST Bk   CARE A4        0.5     Reaffirmed
                                      Fac
S. S. Construction                    ST Bk Fac          CARE A4+       95      Revised from
                                                                                CARE A4
(reduced from Rs.10.00 crore)
Sar Clothing India Pvt Ltd            ST Bk Fac          CARE A4+       50      Reaffirmed
Silvershine Corporation               ST Bk Fac          CARE A4        29.5    Assigned
Utkarsh Tubes And Pipes Ltd           ST -Bk Fac         CARE A3        672.2   Reaffirmed
(enhanced from 29.31crs)

LONG TERM RATINGS:
-------------------
Alpha Foam Ltd                        LT Bk Fac          CARE BBB       381.7   Assigned
Ambattur Clothing Pvt Ltd             LT/ ST Bk Fac      CARE BBB /CARE 230     Reaffirmed
                                                         A2
Aquatica Frozen Foods Global Pvt Ltd  LT Bk Fac          CARE BB+       79.1    Reaffirmed
Array Land Developers Pvt Ltd         LT Bk Fac          CARE BB+       336.1   Assigned
Askar Microns Pvt Ltd                 LT Bk Fac          CARE BB-       90      Reaffirmed
Baba Global Ltd                       LT Bk Fac          -              -       Withdrawn
Cfc Carriers Pvt Ltd                  LT Bk Fac          CARE BB        147.5   Reaffirmed
Chemrow India Pvt Ltd                 LT Bk Fac          CARE BB-       55      Reaffirmed
Digamber Capfin Ltd.                  LT Bk Fac          CARE BB+       850     Reaffirmed
(reduced from 60.00crs)
E Vaidya Pvt Ltd                      LT Bk Fac          CARE B         72.5    Assigned
Esaf Microfinance And Investments Pvt NCD issue          CARE A-        6700    Assigned
Ltd                                   (Proposed)
Garg Casteels Pvt Ltd                 LT Bk Fac          CARE B         2       Reaffirmed
(reduced from 0.44crs)
Garg Casteels Pvt Ltd                 LT/ ST Bk Fac      CARE B /CARE A4120     Reaffirmed
H.K. Designs (India)                  LT / ST Bk Fac – FBCARE A /CARE   1036.3  Reaffirmed
                                                         A2+
Jalore Jaswantpura Bot Project Pvt LtdLT Bk Fac          CARE BBB-      307.1   Reaffirmed
Jay Jalaram Enterprise                LT Bk Fac          CARE BB        118.7   Reaffirmed
Kbk Chem Engineering Pvt Ltd          LT Bk Fac          CARE B-        150     Assigned
Khushiya Industries Pvt Ltd           LT Bk Fac          CARE BB-       208     Revised from
                                                                                CARE B+
(reduced from 22.87crs)
King Refineries Pvt Ltd               LT Bk Fac          CARE BB-       30      Reaffirmed
Kiocl Ltd                             LT Bk Fac          CARE AA        10      Assigned
Kiocl Ltd                             LT/ST Bk Fac       CARE AA /CARE  3690    Assigned
                                                         A1+
Lord Shiva Construction Company Pvt   LT Bk Fac          CARE B+        105     Revised from
Ltd                                                                             CARE B
Lord Shiva Construction Company Pvt   LT Bk Fac / ST Bk  CARE B+ /CARE  75      Revised from
Ltd                                   Fac                A4                     CARE B /
                                                                                Reaffirmed
Manav Sevarth Trust                   LT Bk Fac          CARE A-        250     Assigned
Mandakini Travel & Tours Pvt Ltd      LT Bk Fac          CARE B         46.2    Revised from
                                                                                CARE B-
(Reduced from 11crs)
Minerva Poultry Pvt. Ltd              LT Bk Fac          CARE B         49.1    Reaffirmed
(reduced from 6.02crs)
Mohammed Khan Jewellers Pvt Ltd       LT Bk Fac          CARE BB        178     Reaffirmed
Muralikrishna Infracon (Bangalore) PvtLT Bk Fac          CARE BB;       100     Reaffirmed
Ltd
Mysore Sales International Ltd        Proposed LT/ST Bk  -              500     Withdrawn
                                      Fac
Naresh Singhal & Company              LT Bk Fac          CARE B+        25      Reaffirmed
National Bulk Handling Corporation PvtLT Bk Fac          CARE A+        975     Reaffirmed
Ltd
National Bulk Handling Corporation PvtLong/ST Bk Fac     CARE A+ /CARE  4430    Reaffirmed
Ltd                                                      A1+
Nidhaan Buildcon Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Piramal Finance Ltd                   Subordinated Debt  CARE AA        10000   Assigned
                                      issue
Piramal Finance Ltd                   NCD issue          CARE AA        2500    Reaffirmed
Prem Industries                       LT Bk Fac          CARE B+        91.1    Reaffirmed
Rewa Leisure Pvt Ltd                  LT Bk Fac          CARE BB        47.2    Reaffirmed
(reduced from 8.84crs)
Rewa Leisure Pvt Ltd                  LT/ ST Bk Fac      CARE BB /CARE  30      Reaffirmed
                                                         A4
S. S. Construction                    LT Bk Fac          CARE BB+       100     Revised from
                                                                                CARE BB
Silvershine Corporation               LT Bk Fac          CARE B+        44.3    Assigned
Starchem Polytrade Pvt Ltd            LT/ST Bk Fac       CARE B+ /CARE  277.5   Assigned
                                                         A4
Sumetco Alloys Pvt Ltd                LT Bk Fac          CARE B+        100     Assigned
Unity Jewels                          LT Bk Fac          CARE A         470     Reaffirmed
(reduced from 23.00crs)
Utkarsh Tubes And Pipes Ltd           LT- Bk Fac         CARE BBB       1012.3  Reaffirmed
(enhanced from 96.18crs)
Utkarsh Tubes And Pipes Ltd           Long/Short -term   CARE BBB       2500    Reaffirmed
                                      Bk Fac             /CARE A3
(enhanced from 232.5crs)
Vinayak Education Society             LT Bk Fac          CARE BB        76      Reaffirmed
(enhanced from 7.00crs)
Western Suitings 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)

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