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CARE ratings for Indian debt instruments-May 15
May 15, 2017 / 5:39 AM / 4 months ago

CARE ratings for Indian debt instruments-May 15

   May 15 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 12, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aarti Sponge & Power Ltd              ST Bk Fac          CARE A3        165     Reaffirmed
Atc Tires Pvt Ltd                     ST Bk Fac          CARE A1+       550     Reaffirmed
Classic Wears Pvt Ltd                 ST Bk Fac                                 Withdrawn
Chemsol Labs Pvt Ltd                  ST Bk Fac          CARE A4        41.8    Issuer not
                                                                                cooperating.

Delphi-Tvs Diesel Systems Ltd         ST Bk Fac          CARE A2+       1500    Revised from
                                                                                CARE A1
Delphi-Tvs Diesel Systems Ltd         CP (CP) issue*     CARE A2+       250     Revised from
                                                                                CARE A1
* Carved out of the sanctioned working capital limits of the company;
Eastern Bearings Pvt Ltd              ST Bk Fac          CARE A4+       40      Assigned
Hbl Power System Ltd                  ST Bk Fac          CARE A2+       7448    Reaffirmed
K.T.Ravi                              ST Bk Fac          CARE A4        90      Issuer not
                                                                                cooperating
Lakecity Infrastructure Pvt Ltd       ST Bk Fac          CARE A4        6       Assigned
Marda Estates Pvt Ltd                 ST Bk Fac          CARE A3        10.5    Assigned
Mrf Ltd                               ST Bk Fac          CARE A1+       5500    Reaffirmed
Nextra Teleservices Pvt Ltd           ST Bk Fac          CARE A4        5       Assigned
Ngp Industries Ltd                    ST Bk Fac          CARE A4        95      Revised from
                                                                                CARE A4+
Rock Regency Hotels Pvt Ltd           ST Bk Fac          CARE B-        41.1    Issuer not
                                                                                cooperating;
                                                                                Based on 
                                                                                best 
                                                                                available
                                                                                information
R.K.I Builders Pvt Ltd                ST Bk Fac          CARE A4        10      Issuer not
                                                                                cooperating
Rattan Polychem Pvt Ltd               ST Bk Fac          CARE A4        50      Reaffirmed
Rcn Impex Pvt Ltd                     ST Bk Fac          CARE A4        75      Issuer not
                                                                                cooperating
Samson Maritime Ltd                   ST Bk Fac          CARE A3+       732.3   Revised from
                                                                                CARE A2+
Sanmar Foundries Ltd                  ST Bk Fac          CARE A3        50      Reaffirmed
Shiv Shakti Float Glasses Pvt Ltd     ST Bk Fac          CARE A3        23.3    Reaffirmed
Viral Corporation (India) Pvt Ltd     ST Bk Fac          CARE A4                Issuer Not
                                                                                Cooperating;
Revised from CARE BBB- on the basis of best available information

MEDIUM TERM RATINGS:
-------------------
Mrf Ltd                               Fixed Deposit      CARE AAA (FD)  500     Reaffirmed
                                      Programme
LONG TERM RATINGS:
-------------------
Aakavi Spinning Mills Pvt Ltd         LT Bk Fac          CARE BB        61.1    Issuer not
                                                                                cooperating
Aarti Sponge & Power Ltd              LT Bk Fac          CARE BBB-      255     Reaffirmed
Arashu Clothing Company               LT Bk Fac          CARE B+        52.9    Issuer not
                                                                                cooperating
Atc Tires Pvt Ltd                     LT Bk Fac          CARE AA        4130    Reaffirmed
Calista Properties Pvt Ltd            Long /ST Bk Fac    CARE B- /CARE  150     Reaffirmed
                                                         A4
Chemsol Labs Pvt Ltd                  LT Bk Fac          CARE BB-       30      Issuer not
                                                                                cooperating.
Classic Wears Pvt Ltd                 LT Bk Fac                                 Withdrawn
Delphi-Tvs Diesel Systems Ltd         LT Bk Fac          CARE A-        3774.4  Revised from
                                                                                CARE A
Delphi-Tvs Diesel Systems Ltd         Long/ ST Bk Fac    CARE A- /CARE  50      Revised from
                                                         A2+                    CARE A;
                                                                                /CARE A1
Eastern Bearings Pvt Ltd              LT Bk Fac          CARE BB+       110     Assigned
Hbl Power System Ltd                  LT Bk Fac          CARE A-        3530.7  Reaffirmed
Incredible Realcon Pvt Ltd            Proposed LT        CARE BBB-      6000    Assigned
                                      Instruments (Non-  (SO)*@
                                      Convertible Debentures
*Rating is based on the credit enhancement derived from the unconditional and 
irrevocable corporate guarantee from Ireo Private Limited
@ Rating will be confirmed once the company submits copies of relevant
 executed documents, to the satisfaction of CARE, including final term 
 sheet with corporate guarantee from Ireo Private Limited
International Land Developers Pvt Ltd LT Bk Fac          CARE BB-       334.8   Reaffirmed
Jaipur Tuffen Glass Industries Pvt LtdLT Bk Fac          CARE B+;       170     Assigned
K World Estate Pvt. Ltd.              NCD                CARE BB        680     Reaffirmed
K.T.Ravi                              LT Bk Fac          CARE BB;       70      Issuer not
                                                                                cooperating
Kingswood Logistics Pvt Ltd           LT Bk Fac                                 Withdrawn
Lakecity Infrastructure Pvt Ltd       LT Bk Fac          CARE BB-;      94      Assigned
Marda Estates Pvt Ltd                 LT Bk Fac          CARE BBB-      101.3   Assigned
Mrf Ltd                               LT Bk Fac          CARE AAA       12000   Reaffirmed
Mrf Ltd                               NCD Issue          CARE AAA       5000    Reaffirmed
Mrf Ltd                               Proposed TL/ NCD   CARE AAA       1000    Reaffirmed
                                      Issue – Series I
Mrf Ltd                               Proposed NCD       CARE AAA       5000    Assigned
Mrf Ltd                               NCD Issue – Series                        Withdrawn
                                      II
Msk Projects (Kim Mandvi Corridor) LtdLT Bk Fac*         CARE A+ (SO);  225.1   Revised from
                                                                                CARE A (SO)
* based on the unconditional and irrevocable corporate guarantee 
 extended by Welspun Enterprises Ltd
Mundra Investments Pvt Ltd            LT Bk Fac          CARE B         65      Issuer not
                                                                                cooperating
Mundra Investments Pvt Ltd            LT / ST Bk Fac     CARE B /CARE A455      Issuer not
                                                                                cooperating
Nani Resorts & Floriculture Pvt. Ltd. LT Bk Fac          CARE BB-       445.2   Revised from
                                                                                CARE BB
Nextra Teleservices Pvt Ltd           LT Bk Fac          CARE BB-       170     Assigned
Ngp Industries Ltd                    LT Bk Fac          CARE BB-       35      Revised from
                                                                                CARE BB+
Puranik Buildcon Pvt Ltd              NCD issue          CARE BBB+ (SO  1350    Reaffirmed
Puranik Buildcon Pvt Ltd              LT Bk Fac                         1250    Withdrawn
Puranik Builders Pvt Ltd              LT Bk Fac          CARE BBB+      3650    Reaffirmed
R.K.I Builders Pvt Ltd                LT Bk Fac          CARE BB;       150     Issuer not
                                                                                cooperating
Rattan Polychem Pvt Ltd               LT/Short- term Bk  CARE BB /CARE  12      Reaffirmed
                                      Fac                A4
Rattan Polychem Pvt Ltd               LT Bk Fac          CARE BB;       130     Reaffirmed
Rcn Impex Pvt Ltd                     LT Bk Fac          CARE BB-       50      Issuer not
                                                                                cooperating
Ruchi Hospitality Pvt. Ltd.           LT Bk Fac          CARE BB;       418.4   Reaffirmed
Samson Maritime Ltd                   LT Bk Fac          CARE BBB+      6414.4  Revised from
                                                                                CARE A-
Samson Maritime Ltd                   LT Bk Fac          CARE BBB+      1340.4  Issuer not
                                                                                cooperating;
                                                                                Revised from
                                                                                CARE A- 
                                                                                Based on 
                                                                                best 
                                                                                available
                                                                                information
Sanmar Foundries Ltd                  LT /ST Bk Fac      CARE BBB-      100     Reaffirmed
                                                         /CARE A3
Sanmar Foundries Ltd                  LT Bk Fac          CARE BBB-;     1112.7  Reaffirmed
Sanmar Shipping Ltd                   LT Bk Fac          CARE BBB+      572.8   Revised from
                                                                                CARE BBB-
Shiv Shakti Float Glasses Pvt Ltd     LT Bk Fac          CARE BBB-      155.5   Reaffirmed
Shri Karpadha Agro Foods              LT Bk Fac          CARE BB-;      94      Issuer not
                                                                                cooperating
Sri Balaji Industries                 LT Bk Fac          CARE B;        76.3    Issuer not
                                                                                cooperating
Sri Maanasa Enterprises Pvt Ltd       LT Bk Fac          CARE BB-       150     Issuer not
                                                                                cooperating
Sri Murugar Spinning Mill             LT Bk Fac          CARE BB        123     Issuer not
                                                                                cooperating
Sri Sri Vigneshwara Constructions     LT Bk Fac          CARE BB-       120     Issuer not
                                                                                cooperating
Sunteck Realty Ltd                    LT Bk Fac          CARE A+        10654.3 Assigned
Sunteck Realty Ltd                    Proposed NCDs      CARE A+        1000    Assigned
Sunteck Realty Ltd                    NCDs               CARE A+        350     Assigned
Ultra Drugs Pvt Ltd                   LT Bk Fac          CARE BB        50      Assigned
Um Green Lighting Pvt Ltd             LT Bk FacFund basedCARE BB        160     Revised from
                                                                                CARE BBB- (SO)
Um Green Lighting Pvt Ltd             LT/ST Bk Fac       CARE BB /CARE  190     Revised from
                                      (Non-fund based)   A4                     CARE BBB-
                                                                                (SO)/ CARE A3
(SO)
Vesta Equipment Pvt Ltd               LT Bk Fac          CARE D         34.5    Issuer not
                                                                                cooperating
Vesta Equipment Pvt Ltd               Long/ST Bk Fac     CARE D         85      Issuer not
                                                                                cooperating
Viral Corporation (India) Pvt Ltd     LT Bk Fac          CARE BB                Issuer Not
                                                                                Cooperating;
                                                                                Revised 
                                                                                from 
                                                                                CARE BBB- 
                                                                                Based on 
                                                                                best 
                                                                                available
                                                                                information
Welspun Enterprises Ltd               LT Bk Fac          CARE A+        650     Revised from
                                                                                CARE A
Welspun Enterprises Ltd               LT/ST Bk Fac       CARE A+ /CARE  3600    Revised from
                                                         A1+                    CARE A
Welspun Enterprises Ltd               LT Bk Fac- TL^                            Withdrawn
^ fully repaid
--------------------------------------------------------------------------------------------
$: 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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