May 24, 2017 / 5:17 AM / 3 months ago

CARE ratings for Indian debt instruments-May 24

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


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Alam Constructions                    ST Bk Fac          CARE A4        60      Reaffirmed
Crimson Metal Engineering Co. Ltd     ST Bk Fac          CARE A4        35      Issuer not
                                                                                cooperating
Emprada Mines And Minerals Pvt Ltd    ST Bk Fac          CARE A4        125     Assigned

R. Velumani                           ST Bk Fac          CARE A4        30      Assigned
Right Tight Fastners Pvt Ltd          ST Bk Fac          CARE A3+       106.3   Assigned
Sree Ganesh Constructions             ST Bk Fac          CARE A4        50      Assigned
Venkata Sai Agro Industries           ST Bk Fac          CARE A4        10      Assigned

MEDIUM TERM RATINGS:
-------------------
Jk Lakshmi Cement Ltd                 Fixed Deposits     CARE AA (FD)   250     Reaffirmed
(enhanced from 15crs)

LONG TERM RATINGS:
-------------------
Alam Constructions                    LT Bk Fac          CARE B+        60      Reaffirmed
Bank Of Baroda                        Tier II Bonds      CARE AAA       20000*  Assigned
                                      (Basel III
                                      Compliant)
*includes green shoe option of Rs.1,000 crore  
Crimson Metal Engineering Co. Ltd     LT Bk Fac          CARE B         107     Issuer not
                                                                                cooperating
Cucku Enterprises Pvt Ltd             LT Bk Fac          CARE BB-       75      Assigned
Cucku Enterprises Pvt Ltd             LT /ST Bk Fac      CARE BB- /CARE 65      Assigned
                                                         A4
Emprada Mines And Minerals Pvt Ltd    LT Bk Fac          CARE BB-       25      Assigned
Inox Wind Ltd                         LT Bk Fac          CARE AA-       2595.8  Assigned
Jai Sakthi Mills                      LT Bk Fac          CARE BB-       356.2   Issuer not
                                                                                cooperating
N & N Constructions                   LT Bk Fac          CARE D         122.5   Issuer not
                                                                                cooperating
Pallavaram Municipality               Issuer Rating      CARE BBB+ (Is) -       Assigned
R. Velumani                           LT Bk Fac          CARE BB-       40      Assigned
Rajamane Industries Pvt Ltd           LT Bk Fac          CARE BB        130     Revised from
                                                                                CARE BB+
Issuer not cooperating
Right Tight Fastners Pvt Ltd          LT Bk Fac          CARE BBB       536.1   Assigned
Sagar Autotech Pvt Ltd                LT Bk Fac          CARE BB        70      Assigned
Saktthi Footwear                      LT/ST Bk Fac       CARE BB- /CARE 90      Revised from
                                                         A4                     CARE BB/
                                                                                Reaffirmed
Sansar Trust March 2017 Vi(Originator Series A PTCs      -              -       Withdrawn
Shriram Transport Finance Company Ltd.)
Sansar Trust March 2017 Vi(Originator Second Loss        -              -       Withdrawn
Shriram Transport Finance Company Ltd.Facility
Shree Ram Brinechem Pvt Ltd           LT Bk Fac          CARE B         60      Assigned
Sree Ganesh Constructions             LT Bk Fac          CARE BB-       30      Assigned
Tambaram Municipality                 Issuer Rating      CARE BBB+ (Is) -       Assigned
Trn Energy Pvt Ltd                    LT Bk Fac          CARE BBB (SO)  3657.7  Revised from
                                      (Subordinate Debt)                        CARE BB
Trn Energy Pvt Ltd                    LT Bk Fac (Senior  CARE BBB+ (SO) 25151.5 Revised from
                                      Debt)                                     CARE BB+
(enhanced from 2,187.98)
Trn Energy Pvt Ltd                    Long/ ST Bk Fac    CARE BBB+ (SO) 1850    Revised from
                                      (Non-Fund based)   /CARE A3+(SO)          CARE BB+
                                                                                /CARE A4+
Trn Energy Pvt Ltd                    Long/ ST Bk Fac    CARE BBB+ (SO) 4300    Assigned
                                      (Fund/Non-Fund     /CARE A3+(SO)
                                      based)
Venkata Sai Agro Industries           LT Bk Fac          CARE B+        80      Assigned
--------------------------------------------------------------------------------------------
$: 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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