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CARE ratings for Indian debt instruments-Apr 26
April 26, 2017 / 6:22 AM / 5 months ago

CARE ratings for Indian debt instruments-Apr 26

    Apr 26 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 25, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Anchor Health & Beauty Care Pvt. Ltd. Short -term Bk Fac CARE A3        180     Reaffirmed
Annu Infra Construct India Pvt Ltd    Short -term Bk Fac CARE A4+       120     Issuer not
                                                                                cooperating
Alumatic Cans Pvt Ltd                 Short -term Bk Fac CARE D         4.3     Assigned
Balaji Mobitech Pvt Ltd               Short -term Bk Fac CARE A4        100     Reaffirmed

Bhadohi International                 Short -term Bk Fac CARE A4        50      Issuer not
                                                                                cooperating
Centrum Direct Ltd                    Short -term Bk Fac CARE A3        15.9    Reaffirmed
Century Tiles Ltd                     Short -term Bk Fac CARE A4        30      Issuer not
                                                                                cooperating
Davinder Sandhu Impex Pvt Ltd         Short -term Bk Fac CARE A3+       10      Revised from
                                                                                CARE A3
(reduced from Rs.7 crore)
Deem Construction Company Pvt Ltd     Short -term Bk Fac CARE A3        50      Assigned
Evertogen Life Sciences Ltd           Short -term Bk Fac CARE A4        218     Reaffirmed
(enhanced from 10.62 CR)
Great White Global Pvt. Ltd.          Short -term Bk Fac CARE A3        150     Reaffirmed
J. V. Gokal And Co. Pvt Ltd.          ST Bk Fac (FB)     CARE A4        1300    Reaffirmed
J. V. Gokal And Co. Pvt Ltd.          ST Bk Fac (NonFB)  CARE A4        45      Reaffirmed
(reduced from 8.00 CR)
Khurana Coal Sales                    Short -term Bk Fac CARE A4        11      Reaffirmed
Lakshmi Vacuum Technologies Pvt Ltd   Short -term Bk Fac CARE A4        16      Reaffirmed
M.A. Trading Company                  Short -term Bk Fac CARE A4        60.5    Issuer not
                                                                                cooperating
Mahabal Metals Pvt Ltd                Short -term Bk Fac -              -       Withdrawn
Micro Industrial Corporation          Short -term Bk Fac CARE A3+       200     Assigned
Navyug (India) Ltd                    Short -term Bk Fac CARE A4        52.5    Issuer not
                                                                                cooperating
Nb Entrepreneurs                      Short -term Bk Fac CARE A4        45      Reaffirmed
Neo Capricron Plaza Pvt. Ltd.         Short -term Bk Fac CARE A4+(SO)@  50      Issuer not
                                                                                cooperating
@ based on credit enhancement in the form of irrevocable Letter of Guarantee issued by Pebble
bay Developers Private Limited (PDPL).
Orissa Metaliks Pvt Ltd               Short -term Bk Fac CARE A2        600     Assigned
Power Finance Corporation Ltd         ST Instruments –   CARE A1+       100000  Assigned
                                      Market Borrowing
                                      Programme (FY18)
Prashant Enterprises                  Short -term Bk Fac CARE A4        680     Reaffirmed
Rmp Fab Sourcing Pvt Ltd              Short -term Bk Fac CARE A4        270     Reaffirmed
Rosmerta Technologies Ltd             Short -term Bk Fac CARE A4        300     Reaffirmed
(reduced from 35.00 CR)
S.R. Precision Components Pvt Ltd     Short -term Bk Fac CARE A4        22.5    Issuer not
                                                                                cooperating
Shiv Shakti Fibre Udyog               Short -term Bk Fac CARE A4        50      Issuer not
                                                                                cooperating
Texmaco Rail & Engineering Ltd        Short -term Bk Fac CARE A1+       11000   Reaffirmed
(reduced from 1145 CR)
Texmaco Rail & Engineering Ltd        CP                 CARE A1+       1000    Reaffirmed
Uae Exchange & Financial Services Ltd Short -term Bk Fac CARE A3+       150     Continues on
                                                                                credit watch
Ucal Fuel Systems Ltd                 Short -term Bk Fac CARE A3        450     Reaffirmed
(enhanced from 40.00 CR)

LONG TERM RATINGS:
-------------------
Ahinsha Builders Pvt Ltd              LT Bk Fac          CARE B+        370     Issuer not
                                                                                cooperating
Alumatic Cans Pvt Ltd                 LT Bk Fac          CARE D         119.7   Assigned
Anant Enterprises                     LT Bk Fac          CARE BBB-      90      Reaffirmed
Anchor Health & Beauty Care Pvt. Ltd. LT Bk Fac          CARE BBB-      627.2   Reaffirmed
Annu Infra Construct India Pvt Ltd    LT Bk Fac          CARE BB+       30      Issuer not
                                                                                cooperating
Ashok Leyland Ltd                     LT/ST Bk Fac       CARE AA        26000   Reaffirmed
(enhanced from 2,100 CR)
Baharampore Farakka Highways Ltd      LT Bk Fac          CARE BBB-      7540.4  Reaffirmed
Balaji Mobitech Pvt Ltd               LT Bk Fac          CARE BB-       100     Reaffirmed
Ballupur Solar Power Project Pvt Ltd  LT Bk Fac          CARE BBB       487.5   Assigned
Bansal Iron & Steel Traders           LT/ST Bk Fac       CARE BB- /CARE 400     Revised from
                                                         A4                     CARE BB /
                                                                                CARE A4
Bhagwanpur Solar Projects Pvt Ltd     LT Bk Fac          CARE BBB       235     Assigned
Bhandari Automobiles Pvt. Ltd         LT Bk Fac          CARE BBB-      700     Reaffirmed
Bharti Prints                         LT Bk Fac          CARE BB-       60      Issuer not
                                                                                cooperating
Bindookhadak Solar Projects Pvt Ltd   LT Bk Fac          CARE BBB       235     Assigned
Biological E Ltd                      LT Bk Fac          CARE AA-       1780    Revised from
                                                                                CARE AA
(reduced from 200.00 CR)
Biological E Ltd                      LT/ST Bk Fac       CARE AA- /CARE 2720    Revised from
                                                         A1+                    CARE AA /
                                                                                CARE A1+
(enhanced from 250.00 CR)
Birla Sun Life Mutual Fund            Birla Capital      -              -       Withdrawn
                                      Protection
                                      Oriented Fund – 
                                      Series 18
Btm Exports Ltd                       LT Bk Fac          CARE BB+       400     Reaffirmed
Centrum Direct Ltd                    LT Bk Fac          CARE BBB       928.5   Reaffirmed
Century Tiles Ltd                     LT Bk Fac          CARE BB        98.1    Issuer not
                                                                                cooperating
Chudiala Solar Power Project Pvt Ltd  LT Bk Fac          CARE BBB       487.5   Assigned
Davinder Sandhu Impex Pvt Ltd         LT Bk Fac          CARE BBB       356.2   Revised from
                                                                                CARE BBB-
(reduced from Rs.42.52 crore)
Deem Construction Company Pvt Ltd     LT Bk Fac          CARE BBB-      100     Reaffirmed
Deem Construction Company Pvt Ltd     LT/ST Bk Fac       CARE BBB-      290     Reaffirmed
Evertogen Life Sciences Ltd           LT Bk Fac          CARE BB        541.6   Reaffirmed
(enhanced from 43.16 CR)
Exclusive Overseas Pvt Ltd            LT Bk Fac          CARE B+        177.1   Revised from
                                                                                CARE BB-
Exclusive Overseas Pvt Ltd            LT/ST Bk Fac       CARE B+ /CARE  80      Reaffirmed
                                                         A4
Farakka Raiganj Highways Ltd          LT Bk Fac          CARE BBB-      9696.7  Reaffirmed
Fm Pbw Bearings Pvt Ltd               LT/ST Bk Fac       CARE BBB /CARE 97.5    Assigned
                                                         A3+
Great White Global Pvt. Ltd.          LT Bk Fac          CARE BBB       560     Reaffirmed
Haridwar Solar Projects Pvt Ltd       LT Bk Fac          CARE BBB       940     Assigned
Ig3 Infra Ltd                         LT Bk Fac          CARE D         4614.9  Reaffirmed
(reduced from 546 CR)
Indiabulls Dual Advantage Commercial  Commercial Asset   CARE AAA (AIF) -       Assigned
Asset Fund                            Fund
J.N. Tayal Steels Pvt Ltd             LT Bk Fac          CARE BB-       62.9    Issuer not
                                                                                cooperating
Jaypee Institute Of Information       LT Bk Fac          CARE BBB-      337.7   Reaffirmed
Technology Society
Jrg Fincorp Ltd                       LT Bk Fac          CARE BBB       500     Reaffirmed
Khurana Coal Sales                    LT Bk Fac          CARE B+        47      Reaffirmed
(reduced from 5.00 CR)
Lakshmi Vacuum Technologies Pvt Ltd   LT Bk Fac          CARE BB-       30.8    Reaffirmed
(reduced from 3.40 CR)
Libra Autocar Co. Ltd                 LT Bk Fac          CARE B+        100     Issuer not
                                                                                cooperating
Lokmangal Agro Industries Ltd         LT Bk Fac          CARE BB        1100    Reaffirmed
Lokmangal Mauli Industries Ltd        LT Bk Fac          CARE D         2108.5  Revised from
                                                                                CARE BB
M J Engineering Works Pvt Ltd         LT Bk Fac          CARE C         143.5   Reaffirmed
M J Engineering Works Pvt Ltd         LT/ST Bk Fac       CARE C /CARE A427      Reaffirmed
Mahabal Metals Pvt Ltd                LT Bk Fac          CARE BBB+      590.3   Revised from
                                                                                CARE BBB
(Enhanced from 58.03 CR)
Malkani Properties                    LT Bk Fac          CARE BB-       170     Reaffirmed
Micro Industrial Corporation          LT Bk Fac          CARE BBB       350     Assigned
National Highways Authority Of India  LT Borrowing       CARE AAA       590000  Assigned
                                      Programme for
                                      FY17-18
Navyug (India) Ltd                    LT Bk Fac          CARE BB-       47      Issuer not
                                                                                cooperating
Nb Entrepreneurs                      LT Bk Fac-TL       -              -       Withdrawn
Nb Entrepreneurs                      Shrey Associates   CARE BB        20      Reaffirmed
Neel Krishna Brothers                 LT Bk Fac          CARE B+        100.3   Assigned
Neo Capricron Plaza Pvt. Ltd.         LT Bk Fac          CARE BB+(SO)@  882.7   Issuer not
                                                                                cooperating
@ based on credit enhancement in the form of irrevocable Letter of Guarantee issued by Pebble
bay Developers Private Limited (PDPL)
Nikkamal Jewellers Pvt Ltd            LT Bk Fac          CARE BB        180     Reaffirmed
Oasis Green Energy Pvt Ltd            LT Bk Fac          CARE B+        180     Issuer not
                                                                                cooperating
Orissa Metaliks Pvt Ltd               LT Bk Fac          CARE BBB+      500     Assigned
Panama Sunarch Developers             LT Bk Fac          CARE B+        250     Reaffirmed
Pebble Bay Developers Pvt Ltd.        Issuer Rating      CARE BB+(IS)   -       Issuer not
                                                                                cooperating
Pivotal Infrastructure Pvt Ltd        LT Bk Fac          CARE BB        386.7   Reaffirmed
(reduced from 54.17 CR)
Power Finance Corporation Ltd         LT Instruments –   CARE AAA       410000  Assigned
                                      Market Borrowing
                                      Programme (FY18)
R V Realty                            LT Bk Fac          CARE BB        95      Revised from
                                                                                CARE BB+
Raiganj Dalkhola Highways Ltd         LT Bk Fac          CARE D         3216.3  Reaffirmed
Rmp Fab Sourcing Pvt Ltd              LT Bk Fac          CARE BB        130.5   Revised from
                                                                                CARE BB-
Ronak Agro Foods                      LT Bk Fac          CARE BB        31.9    Reaffirmed
(Reduced from 7.43 CR)
S. V. Foods                           LT Bk Fac          CARE B+        88.3    Reaffirmed
(reduced from 10.50)
S.R. Precision Components Pvt Ltd     LT Bk Fac          CARE B+        46.8    Issuer not
                                                                                cooperating
Sagar Fibers Pvt Ltd                  LT Bk Fac          CARE B         70      Issuer not
                                                                                cooperating
                                                                                Revised from
CARE B+
Saka Embroidery Pvt Ltd               LT Bk Fac          CARE B+        105.8   Reaffirmed
(reduced from 11.77 CR)
Sandhu Farms Pvt Ltd                  LT Bk Fac          CARE B         50      Issuer not
                                                                                cooperating
Shakumbhari Solar Power Project Pvt   LT Bk Fac          CARE BBB       487.5   Assigned
Ltd
Shiv Polymers Industries              LT Bk Fac          CARE B         140     Assigned
Shiv Shakti Fibre Udyog               LT Bk Fac          CARE B+        25      Issuer not
                                                                                cooperating
Shrey Associates                      LT Bk Fac          CARE BB-       88.7    Assigned
Siddhivinayak Timber Trading          LT Bk Fac          CARE D         60      Issuer not
                                                                                cooperating
                                                                                Revised from
CARE B
Simhapuri Expressway Ltd              LT Bk Fac          CARE D         20400   Revised from
                                                                                CARE BBB-
Sri Lakshmi Engineering Works         LT Bk Fac          CARE B+        50      Issuer not
                                                                                cooperating
Texmaco Rail & Engineering Ltd        LT Bk Fac          CARE AA-       950     Reaffirmed
The Phaltan Education Society         LT Bk Fac          CARE BB-       70.6    Reaffirmed
(reduced from 8.00 CR)
Uae Exchange & Financial Services Ltd LT Bk Fac          CARE BBB+      5430    Continues on
                                                                                credit watch
Ucal Fuel Systems Ltd                 LT Bk Fac          CARE BBB       1704.9  Revised from
                                                                                CARE BBB-
(enhanced from 157.26 CR)
Vaibhavlaxmi Clean Energy Llp         LT Bk Fac TL       CARE B+        370.7   Revised from
                                                                                CARE BB-
(reduced from 40.82 CR)
Vaibhavlaxmi Clean Energy Llp         LT Bk Fac BD       CARE B+        50      Revised from
                                                                                CARE BB-
Vasu Infrastructure Pvt Ltd           LT Bk Fac          CARE BB        500     Issuer not
                                                                                cooperating
--------------------------------------------------------------------------------------------
$: 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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