May 17, 2017 / 4:02 AM / 2 months ago

CARE ratings for Indian debt instruments-May 17

13 Min Read

    May 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 16, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Brijbasi Hi-Tech Udhyog Ltd           ST Bk Fac          CARE A4        105     Assigned
Chetak Enterprises Ltd                CP issue           CARE A1+       250     Assigned
Chetak Enterprises Ltd                CP issue           CARE A1+       200     Assigned
reduced from Rs.45 crore

Cnc India Tools & Services Pvt Ltd    ST Bk Fac          CARE A4+       70      Reaffirmed
Crescent Therapeutics Ltd             ST Bk Fac          CARE A4        30      Assigned
G Ramamoorthi Constructions India Pvt ST Bk Fac          CARE A4        40      Assigned
Ltd
Gr Power Switchgear Ltd               ST Bk Fac          CARE A4        160     Reaffirmed
Icon Cars Pvt Ltd                     ST Bk Fac          CARE A4        13      Assigned
K. G. Lakshmipathi And Company        ST Bk Fac          CARE A4        22.5    Reaffirmed
Ken Agritech Pvt Ltd                  ST Bk Fac          CARE A4+       152.5   Revised from
                                                                                CARE A3
reduced from 16.42 CR
Mohini Food Products Pvt Ltd          ST Bk Fac          CARE A4        15      Assigned
Nirman Engineers And Contractors      ST Bk Fac          CARE A4        170     Reaffirmed
enhanced from 17 CR
Ribo Industries Pvt Ltd               ST Bk Fac          CARE A4        30      Reaffirmed
Roj Leather Exports Pvt Ltd           ST Bk Fac          CARE A4+       103     Assigned
Rolex Rings Pvt Ltd                   ST Bk Fac          CARE A4        2907.4  Reaffirmed
enhanced from Rs.11.52 crore
Sayta Sai Exims                       ST Bk Fac          CARE A4        50      Reaffirmed
Shafa Educational Society             ST Bk Fac          CARE A4        67.5    Issuer not
                                                                                cooperating
Smsea Marines Pvt Ltd                 ST Bk Fac          CARE A4        85      Assigned
Strategic Outsourcing Services Pvt LtdST Bk Fac          CARE A4        50      Revised from
                                                                                CARE A3
Whitefields Apparel                   ST Bk Fac          CARE A4        33.5    Assigned
Zenith Fibress                        ST Bk Fac          CARE A4        110     Reaffirmed

LONG TERM RATINGS:
-------------------
Arhyama Solar Power Pvt Ltd           LT Bk Fac          CARE BB        300     Assigned
Avaada Power Pvt Ltd                  LT Bk Fac          CARE BBB+      2500    Assigned
Avaada Power Pvt Ltd                  Bk Fac             CARE BBB+ /A2  1000    Assigned
Avanse Financial Services Ltd         LT Bk Fac          CARE AA+ (SO)  6310    Reaffirmed
Avanse Financial Services Ltd         LT Bk Fac          CARE AA+ (SO)  750     Final Rating
Avanse Financial Services Ltd         LT Bk Fac          CARE AA+ (SO)  440     Provisional
Azure Power (Karnataka) Pvt Ltd       LT Bk Fac          CARE BBB+      585     Assigned
Azure Surya Pvt Ltd                   LT Bk Fac          CARE BBB       550     Assigned
Beam Cox Constructions Pvt Ltd        LT Bk Fac          CARE D         60      Issuer not
                                                                                cooperating
Beam Cox Constructions Pvt Ltd        ST Bk Fac          CARE D         5       Issuer not
                                                                                cooperating
Bhavanam Textiles (India) Pvt Ltd     LT Bk Fac          CARE B+        95.7    Issuer not
                                                                                cooperating
Brijbasi Hi-Tech Udhyog Ltd           LT Bk Fac          CARE B-        80      Assigned
Cnc India Tools & Services Pvt Ltd    LT Bk Fac          CARE BB+       95      Reaffirmed
enhanced from 5 CR
Crescent Therapeutics Ltd             LT Bk Fac          CARE B         87.7    Assigned
Digital Factory                       LT Bk Fac          CARE B         62.5    Assigned
Dil Ltd                               LT Bk Fac          CARE BB+       450     Reaffirmed
                                      (proposed lease
                                      rental discounting)
enhanced from 12.50 CR
Divya Agro Roller Flour Mills Pvt Ltd LT Bk Fac          CARE D         96      Issuer not
                                                                                cooperating
Essel Urja Pvt Ltd                    Proposed NCD issue CARE AA (SO)   5250    Reaffirmed
                                      – Tranche A
Essel Urja Pvt Ltd                    Proposed NCD issue CARE AA (SO)   1650    Reaffirmed
                                      – Tranche B
Reduced from 182.50 CR
G Ramamoorthi Constructions India Pvt LT Bk Fac          CARE BB        50      Assigned
Ltd
G. Parandhamaiah And Company Cotton   LT Bk Fac          CARE B+        80      Assigned
Ginning Mills
Gr Power Switchgear Ltd               LT Bk Fac          CARE B+        220     Reaffirmed
Gwalior Bypass Project Ltd            NCD issue          CARE BB (SO)   1720.3  Revised from
                                                                                CARE BBB (SO)
Helios Infratech Pvt Ltd              LT Bk Fac          CARE BBB       5805    Assigned
Hyquip Systems Ltd                    LT Bk Fac          CARE D         53.8    Issuer not
                                                                                cooperating
Hyquip Systems Ltd                    ST Bk Fac          CARE D         270     Issuer not
                                                                                cooperating
Hyquip Technologies Ltd               LT Bk Fac          CARE D         21.4    Issuer not
                                                                                cooperating
Hyquip Technologies Ltd               ST Bk Fac          CARE D         13      Issuer not
                                                                                cooperating
Icon Cars Pvt Ltd                     LT Bk Fac          CARE B+        109.5   Assigned
K R Enterprises                       LT Bk Fac          CARE B         60      Assigned
K. G. Lakshmipathi And Company        LT Bk Fac          CARE B+        60      Reaffirmed
K.R.R. Poultry Farms                  LT Bk Fac          CARE B+        56      Assigned
Ken Agritech Pvt Ltd                  LT Bk Fac          CARE BB+       30      Revised from
                                                                                CARE BBB-
enhanced from 0.70 CR
Ken Agritech Pvt Ltd                  Bk Fac             CARE BB+ /A4+  20      Revised from
                                                                                CARE BBB- /A3
Mahadev Building Systems Pvt Ltd      LT Bk Fac          CARE B+        77.2    Revised from
                                                                                CARE BB-
Reduced from 8.80 CR
Meenakshi Hatcheries                  LT Bk Fac          CARE B+        40      Revised from
                                                                                CARE B
Reduced from 4.75 CR
Mohini Food Products Pvt Ltd          LT Bk Fac          CARE BB-       110.5   Assigned
Nirman Engineers And Contractors      LT Bk Fac          CARE B+        60      Reaffirmed
enhanced from 6 CR
Ongole Arogya Hospitals Pvt Ltd       LT Bk Fac          CARE D         380     Issuer not
                                                                                cooperating
Pvn Constructions                     LT Bk Fac          CARE BB        50      Issuer not
                                                                                cooperating
Pvn Constructions                     ST Bk Fac          CARE BB        50      Issuer not
                                                                                cooperating
Ribo Industries Pvt Ltd               LT Bk Fac          CARE B+        219     Revised from
                                                                                CARE B
reduced from Rs.26.66 crore
Rolex Rings Pvt Ltd                   LT Bk Fac          CARE B+        3165.6  Reaffirmed
enhanced from Rs.13.48 crore
Sakthi Elegant Towers India Pvt Ltd   LT Bk Fac          CARE B+        112.5   Assigned
Saradhambika Paper And Board Mills PvtLT Bk Fac          CARE BB        60      Assigned
Ltd
Sayta Sai Exims                       LT Bk Fac          CARE BB-       60.3    Reaffirmed
Shalby Ltd                            LT Bk Fac          --                     Withdrawn
Shree Jagannath Expressways Pvt Ltd   LT Bk Fac          CARE BBB-      10586   Revised from
                                                                                CARE BB
Shrotra Enterprises Pvt Ltd           LT Bk Fac          CARE BBB-      322.6   Reaffirmed
Smsea Marines Pvt Ltd                 LT Bk Fac          CARE BB-       46.4    Assigned
Sona Diamond And Gold Exporters Pvt LtLT Bk Fac          CARE B+        60      Issuer not
                                                                                cooperating
Srg Aluminium Pvt Ltd                 LT Bk Fac          CARE B+        13.2    Revised from
                                                                                CARE B
Srg Aluminium Pvt Ltd                 Bk Fac             CARE B+ /A4    40      Reaffirmed
Srinivasa Steel Products              LT Bk Fac          CARE D         92.5    Issuer not
                                                                                cooperating
Strategic Outsourcing Services Pvt LtdLT Bk Fac          CARE BB        130     Revised from
                                                                                CARE BBB-
Suba Plastics Pvt Ltd                 LT Bk Fac          CARE BB        60      Reaffirmed
Unnati Fortune Hotmart Pvt Ltd        LT Bk Fac          CARE B+        250     Reaffirmed
Vbc Renewable Energy Pvt Ltd          LT Bk Fac          CARE BB        150     Assigned
Whitefields Apparel                   LT Bk Fac          CARE BB        92      Assigned
Zenith Fibress                        LT Bk Fac          CARE BB-       20      Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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