February 22, 2017 / 4:47 AM / 7 months ago

CARE ratings for Indian debt instruments-Feb 22

    Feb 22 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 21, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Adinath Motors                        ST Bk Fac          CARE A4        5       Reaffirmed
Baroda Hi-Tech Alloys Pvt Ltd         ST Bk Fac          CARE A3        65      Assigned
Chimur Cotton Industry                ST Bk Fac          CARE A4        0.7     Assigned
Cremica Food Industries Ltd           ST Bk Fac          CARE A3+       100     Reaffirmed

Digital Circuits Pvt Ltd              ST Bk Fac          CARE A4        80      Reaffirmed
Future Enterprises Ltd                ST Bk Fac (Non     CARE A1+       4520    Reaffirmed
                                      Fund based)
Future Retail Ltd                     ST Bk Fac (Non     CARE A1+       17150   Reaffirmed
                                      Fund based)
Future Retail Ltd                     CP (carved out of  CARE A1+       4875    Reaffirmed
                                      working capital
                                      limits)
Future Retail Ltd                     CP                 CARE A1+       2000    Reaffirmed
Kapsons Industries Ltd                ST Bk Fac          CARE D         290     Reaffirmed
Orient Cement Ltd                     CP (CP) Issue*     CARE A1+       1500    %
*carved out of the sanctioned working capital limits of the company    
Pcm Cement Concrete Pvt Ltd           ST Bk Fac          CARE A4        100     Reaffirmed
Pennar Industries Ltd                 ST Bk Fac          CARE A1        1500    Reaffirmed
(enhanced from 140.00crs)
Riddhi Siddhi Cold Storage Pvt Ltd    ST Bk Fac          CARE A4        2.1     Assigned
Rodic Consultants Pvt Ltd             ST Bk Fac (Fund    CARE A2+       126.5   Reaffirmed
                                      Based)
(enhanced from 10.00crs)
Rodic Consultants Pvt Ltd             ST Bk Fac (Non-FB) CARE A2+       200     Reaffirmed
(enhanced from 5.00crs)
S R Collection Pvt Ltd                ST Bk Fac          CARE A4        5       Assigned
Saraf Foods Ltd                       ST Bk Fac          CARE A4        7.8     Reaffirmed
(Reduced from 1.28crs)
Shivam Autotech Ltd                   ST Bk Fac          CARE A2+       660     Revised from
                                                                                CARE A1
Shree Nath Gum And Chemicals          ST Bk Fac          CARE A4        80      Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Dewan Housing Finance Corporation Ltd.Fixed Deposit      CARE AAA (FD)  80000   Reaffirmed
                                      programme
LONG TERM RATINGS:
-------------------
A B T Investments (India) Pvt Ltd     NCD Issue          CARE B         1000    Reaffirmed
Adinath Motors                        LT/ST Bk Fac       CARE BB- /CARE 123.6   Reaffirmed
                                                         A4
Baroda Hi-Tech Alloys Pvt Ltd         LT Bk Fac          CARE BBB       30      Assigned
Birbal Dass Ritesh Kumar              LT Bk Fac          CARE B         210     Reaffirmed
Chimur Cotton Industry                LT Bk Fac          CARE B+        58.9    Assigned
Cremica Food Industries Ltd           LT Bk Fac          CARE BBB       690     Reaffirmed
(Enhanced from 64.60crs)
Dewan Housing Finance Corporation Ltd.Perpetual Debt     CARE AA        8000    Reaffirmed
Dewan Housing Finance Corporation Ltd.Subordinated Debt  CARE AA+       22050   Reaffirmed
Dewan Housing Finance Corporation Ltd.NCDs               CARE AAA       176551.2Reaffirmed
Dewan Housing Finance Corporation Ltd.NCDs (Public Issue)CARE AAA       140000  Reaffirmed
Dewan Housing Finance Corporation Ltd.LT Bk Fac          CARE AAA       427138  Reaffirmed
Digital Circuits Pvt Ltd              LT Bk Fac          CARE BB-       168     Reaffirmed
Digital Circuits Pvt Ltd              Long/ST Bk Fac     CARE BB- /CARE 12      Reaffirmed
                                                         A4
Dina Iron & Steel Ltd                 LT Bk Fac          CARE BB        295     Reaffirmed
(reduced from 29.80crs)
Flash Viven Machining Technologies PvtLT Bk Fac          CARE A- (SO) * 1655    Assigned
Ltd
*backed by corporate guarantee from Flash Electronics India Private Limited(FEIPL; rated CARE
A-/Stable/CARE A2 )
Future Enterprises Ltd                LT Bk Fac (TL)     CARE AA-       9610.6  Reaffirmed
Future Enterprises Ltd                LT Bk Fac (TL)     CARE AA-       5576.6  Reaffirmed
Future Enterprises Ltd                LT Bk Fac (Fund    CARE AA-       3750    Reaffirmed
                                      Based)
Future Enterprises Ltd                LT NCDs            CARE AA-       9000    Reaffirmed
Future Enterprises Ltd                LT NCDs- III       CARE AA-       4875    Reaffirmed
Future Enterprises Ltd                LT NCDs – VI       CARE AA-       6000    Reaffirmed
Future Enterprises Ltd                LT NCDs            CARE AA-       6000    Reaffirmed
Future Enterprises Ltd                LT NCDs            CARE AA-       13475   Reaffirmed
Future Enterprises Ltd                LT NCDs            CARE AA-       9500    Reaffirmed
Future Retail Ltd                     LT Bk Fac (Fund    CARE AA-       25355   Reaffirmed
                                      Based)
Giridhar Techfab Pvt Ltd              LT Bk Fac          CARE B         110.5   Reaffirmed
Giridhar Techfab Pvt Ltd              LT/ST Bk Fac       CARE B /CARE A44.5     Reaffirmed
Goyal Enterprises                     LT Bk Fac          CARE B+        108.1   Reaffirmed
Grow Ever Steel (India) Pvt. Ltd.     LT Bk Fac          CARE A+        124     Reaffirmed
(enhanced from 7.50crs)
Grow Ever Steel (India) Pvt. Ltd.     Long/ST Bk Fac     CARE A+ /CARE  35      Reaffirmed
                                                         A1+
(enhanced from 0.50crs)
Hinduja Housing Finance Ltd           LT Bk Fac          CARE A+        1500    Assigned
Kapsons Industries Ltd                LT Bk Fac          CARE D         1294    Reaffirmed
Karnataka Power Transmission Co. Ltd  LT Bk Fac          CARE A-        50000   Reaffirmed
Mj Infrastructure                     LT Bk Fac          CARE BB        100     Assigned
Pcm Cement Concrete Pvt Ltd           LT Bk Fac          CARE BB        1277.7  Revised from
                                                                                CARE BB-
Pennar Industries Ltd                 LT Bk Fac          CARE A         1911.8  Reaffirmed
(enhanced from 177.43crs)
Perfect Chemfood Industries           LT Bk Fac          CARE BB        145.4   Reaffirmed
Riddhi Siddhi Cold Storage Pvt Ltd    LT Bk Fac          CARE B         151     Assigned
Rock And Storm Bottlers Pvt Ltd       LT Bk Fac          CARE BB-       100     Assigned
Rodic Consultants Pvt Ltd             LT Bk Fac (TL)     CARE A-        403     Reaffirmed
(enhanced from 29.01crs)
S R Collection Pvt Ltd                LT Bk Fac          CARE BB-       128.1   Assigned
S R Metallizers                       LT Bk Fac          CARE B+        67.6    Assigned
S R Metallizers                       LT/ST Bk Fac       CARE B+ /CARE  69.7    Assigned
                                                         A4
Sancube Infra Projects Pvt Ltd        LT Bk Fac          -              -       Withdrawn
Sangam Handicraft Pvt Ltd             LT Bk Fac          CARE B+        58      Assigned
Saraf Foods Ltd                       Saraf Fooptionally CARE BB        76.1    Reaffirmed
                                      convertible
                                      debentures Limited
(Reduced from 11.15crs)
Saraf Foods Ltd                       LT / ST Bk Fac     CARE BB /CARE  62.5    Reaffirmed
                                                         A4
(Enhanced from 4.25crs)
Scofiled Sbl Ifmr Capital 2017        Series A2 PTC      ProvCARE BB+   7.4     Assigned
(Originator: Visage Holdings And Fin Pvt Ltd)            (SO)                                   
         
Scofiled Sbl Ifmr Capital 2017        Series A1 PTC      ProvCARE BBB + 90.4    Assigned
(Originator: Visage Holdings And Fin Pvt Ltd)            (SO)
Shiv Shakti Sponge Iron Ltd           LT Bk Fac 7        CARE B+        70^     Notice of
                                                                                Withdrawal
^reduced to Rs.3.50 crore as on January 31, 2017 on a reducing balance
Shivam Autotech Ltd                   LT Bk Fac          CARE BBB+      4025    Revised from
                                                                                CARE A-
Shree Ganesh Khand Udyog Sahakari     LT Bk Fac          CARE BB-       211.6   Reaffirmed
Mandli Ltd
Shree Ganesh Khand Udyog Sahakari     LT/ST Bk Fac       CARE BB- /CARE 100     Reaffirmed
Mandli Ltd                                               A4
Shree Nath Gum And Chemicals          LT Bk Fac          CARE BB-       21.8    Reaffirmed
Tulsi Trading Co.                     LT Bk Fac          CARE B+        62.5    Assigned
Yadav Measurements Pvt Ltd            LT Bk Fac          CARE A-        71.5    Reaffirmed
(reduced from Rs.9.50 crore)
Yadav Measurements Pvt Ltd            LT/ST Bk Fac       CARE A- /CARE  130     Reaffirmed
                                                         A2+
--------------------------------------------------------------------------------------------
$: 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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