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CARE ratings for Indian debt instruments-Feb 24
February 24, 2017 / 6:30 AM / 7 months ago

CARE ratings for Indian debt instruments-Feb 24

    Feb 24 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 23, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Cnc India Tools & Services Pvt Ltd    ST Bk Fac-Non-FB   CARE A4+       70      Reaffirmed
(enhanced from 6 CR)
Essem Enterprise                      ST Bk Fac          CARE A4        14.3    Assigned
Krushna Cotex Pvt Ltd                 ST Bk Fac          CARE A4        56.8    Reaffirmed

Mahavir Polyplast Pvt Ltd             ST Bk Fac          CARE A4        42.5    Reaffirmed
Mak Controls And Systems Pvt Ltd      ST Bk Fac          CARE A2        60      Reaffirmed
P & C Projects Pvt Ltd                ST Bk Fac          CARE A4        100     Reaffirmed
Rajaramsevak Multipurpose Cold StorageST Bk Fac          CARE A4        2       Assigned
Pvt Ltd
Sri Salasar Balaji Agro Tech Pvt Ltd  ST Bk Fac          CARE A4        150     Reaffirmed
Vinayak International Housewares Pvt  ST Bk Fac          CARE A4        170     Reaffirmed
Ltd
Zen Technologies Ltd                  ST Bk Fac          CARE A3+       100     Reaffirmed

LONG TERM RATINGS:
-------------------
A.R.R Srinivasan & Company            LT Bk Fac          CARE BB-       128.5   Revised from
                                                                                CARE BB
A.R.R Srinivasan & Sons               LT Bk Fac          CARE BB-       539.8   Revised from
                                                                                CARE BB
Ashford Constructions Pvt Ltd         LT Bk Fac          CARE BB+       600     Withdrawn
Bharat Petroleum Corporation Ltd      Proposed NCD issue CARE AAA       10000   Assigned
Bharat Petroleum Corporation Ltd      NCD issue (NCD) –  CARE AAA       10000   Reaffirmed
                                      II
Cnc India Tools & Services Pvt Ltd    LT Bk Fac          CARE BB+       50      Reaffirmed
(enhanced from 2 CR)
Credila Financial Services Pvt Ltd    Perpetual Debt     CARE AA        1500    Reaffirmed
Credila Financial Services Pvt Ltd    NCD                CARE AA+       2000    Assigned
Credila Financial Services Pvt Ltd    NCD                CARE AA+       3000    Reaffirmed
Credila Financial Services Pvt Ltd    NCD                CARE AA+       2000    Reaffirmed
Credila Financial Services Pvt Ltd    Subordinate Debt   CARE AA+       1000    Reaffirmed
Credila Financial Services Pvt Ltd    Issuer Rating      CARE AA+       -       Reaffirmed
Dwarka Gems Ltd                       LT/ST Bk Fac       CARE B- /CARE  103.8   Reaffirmed
                                                         A4
Essem Enterprise                      LT Bk Fac          CARE B         88.6    Assigned
Future Brands Ltd.                    LT Bk Fac          CARE BBB-      4855    Reaffirmed
Indian Renewable Energy Development   LT Bonds: GoI      CARE AAA       40000   Assigned
Agency Ltd                            Fully serviced
                                      Bonds*
*the repayment of principal and interest on the said bonds will be done by Government of India
(GoI) by making suitable budget provisions. The ratings assigned to these bonds do not reflect
the ratings assigned to other bonds of IREDA. 
Innovation Trust Xix Mar 2014         Series A PTC       CARE AA(SO)    1198.2  Reaffirmed
(Originator: Indiabulls Housing Finance
Ltd.)
Innovation Trust Xv Dec 2013          Series A PTC       CARE AA(SO)    304.5   Reaffirmed
(Originator: Indiabulls Housing Finance
Ltd.)
Jakson Engineers Ltd                  LT Bk Fac          CARE A+        750     Reaffirmed
(enhanced from 20.00 CR)
Jakson Engineers Ltd                  LT/ST Bk Fac       CARE A+ /CARE  3850    Reaffirmed
                                                         A1+
(enhanced from 93.40 CR)
Jakson Ltd                            LT Bk Fac          CARE AA-       950     Reaffirmed
(enhanced from 36.00 CR)
Jakson Ltd                            LT/ST Bk Fac       CARE AA- /CARE 4000    Reaffirmed
                                                         A1+
(enhanced from 225.40 CR)
Jodhani Brothers                      LT Bk Fac          CARE BBB-      120     Reaffirmed
Krushna Cotex Pvt Ltd                 LT Bk Fac          CARE B+        226.5   Reaffirmed
Lokesh Industrial Services Pvt Ltd    LT Bk Fac          CARE BB-       100     Assigned
Lokesh Infraproject Pvt Ltd           LT Bk Fac          CARE BB-       100     Assigned
M S Sawa Clay & Minerals Pvt Ltd      LT Bk Fac          CARE B+        193.4   Reaffirmed
Mahaveer Ginning & Pressing           LT Bk Fac          CARE BB        154     Reaffirmed
Mahavir Polyplast Pvt Ltd             LT Bk Fac          CARE B+        87.5    Reaffirmed
Mak Controls And Systems Pvt Ltd      LT Bk Fac          CARE BBB+      130     Reaffirmed
(enhanced from 8 CR)
Mak Controls And Systems Pvt Ltd      LT/ST Bk Fac       CARE BBB+      180     Reaffirmed
                                                         /CARE A2
(enhanced from 13 CR)
Mudrakshi Hytech India Pvt Ltd        LT Bk Fac          CARE BB+       60      Assigned
Mudrakshi Hytech India Pvt Ltd        LT/ST Bk Fac       CARE BB+ /CARE 90      Assigned
                                                         A4+
P & C Projects Pvt Ltd                LT Bk Fac          CARE BB        600     Reaffirmed
P & C Projects Pvt Ltd                LT/ST Bk Fac       CARE BB /CARE  1250    Reaffirmed
                                                         A4
(enhanced from 80 CR)
Rajaramsevak Multipurpose Cold StorageLT Bk Fac          CARE B         129.4   Assigned
Pvt Ltd
Samraddhi Cot Fibers Pvt Ltd          LT Bk Fac          CARE D         70.1    Revised from
                                                                                CARE B+
Senthur Textiles Pvt Ltd              LT Bk Fac          CARE B         80.4    Reaffirmed
(enhanced from 7.39 CR)
Sri Salasar Balaji Agro Tech Pvt Ltd  LT Bk Fac          CARE BB        150     Reaffirmed
Vinayak International Housewares Pvt  LT Bk Fac          CARE B+        15      Reaffirmed
Ltd
Zen Technologies Ltd                  LT Bk Fac          CARE BBB       150     Reaffirmed
Zen Technologies Ltd                  LT/ST Bk Fac       CARE BBB /CARE 570     Reaffirmed
                                                         A3+
--------------------------------------------------------------------------------------------
$: 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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