May 25, 2017 / 4:49 AM / 3 months ago

CARE ratings for Indian debt instruments-May 25

    May 25 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 24, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Compuage Infocom Ltd                  ST Bk Fac – Non-FB CARE A2+       4800.5  Revised from
                                      Limits                                    CARE A2
Kora Shoes Pvt Ltd                    ST Bk Fac          CARE A4        165.1   Reaffirmed
Mukul Exports                         ST Bk Fac          CARE A4+       44      Assigned

Rajdeep And Associates                ST Bk Fac          CARE A4        32.5    Assigned
Rani Aqua Feeds Pvt Ltd               ST Bk Fac          CARE A4        25      Assigned
Rpn Engineers Chennai Pvt Ltd         ST Bk Fac          CARE D         48.7    Issuer not
                                                                                cooperating


LONG TERM RATINGS:
-------------------
Alcibie Ifmr Capital 2015             Series A1 PTCs     -              -       Withdrawn
Alcibie Ifmr Capital 2015             Series A2 PTCs     -              -       Withdrawn
Arid Trust Jan 2016                   Series A PTCs      -              -       Withdrawn
Avadi Municipality                    Issuer Rating      CARE BBB-      -       Assigned
Badhri Spinning Mills Pvt Ltd         LT Bk Fac          CARE D         305.1   Issuer not
                                                                                cooperating
Compuage Infocom Ltd                  LT Bk Fac – FB     CARE A-        2005    Revised from
                                      Limits                                    CARE BBB+
G R Infraprojects Ltd                 LT Bk Fac          CARE AA-       1645.8  Revised from
                                                                                CARE A+
G R Infraprojects Ltd                 LT / ST Bk Fac     CARE AA-       16000   Revised from
                                                                                CARE A+/A1+
G R Infraprojects Ltd                 NCD Issue 1 (NCD – CARE AA-       1250    Revised from
                                      I) – Tranche 1*                           CARE A+
*Outstanding as on March 31, 2017
G R Infraprojects Ltd                 NCD Issue 2 (NCD – CARE AA-       1500    Revised from
                                      II)*                                      CARE A+
*Outstanding as on March 31, 2017
Imlr Trust June 2015                  Series A PTCs      -              -       Withdrawn
Kora Shoes Pvt Ltd                    LT Bk Fac          CARE BB        30.4    Reaffirmed
Ksr Developers Pvt Ltd                LT Bk Fac          CARE BB        200     Reaffirmed
Lidco Projects India Pvt Ltd          LT Bk Fac          CARE B+        75      Issuer not
                                                                                cooperating
Manto Ifmr Capital 2015               Series A1 PTCs     -              -       Withdrawn
Manto Ifmr Capital 2015               Series A2 PTCs     -              -       Withdrawn
Minakshi Cotton Pvt Ltd               LT Bk Fac          CARE B+        192.5   Reaffirmed
Mukul Exports                         LT Bk Fac          CARE BB        56      Assigned
Rajdeep And Associates                LT Bk Fac          CARE B+        35      Assigned
Rani Aqua Feeds Pvt Ltd               LT Bk Fac          CARE B +       160     Reaffirmed
Rpn Engineers Chennai Pvt Ltd         LT Bk Fac          CARE D         12.6    Issuer not
                                                                                cooperating
Scofiled Sbl Ifmr Capital 2017        Series A2 PTCs #   CARE BB+       7.4     Assigned
#The PTCs rated based on ultimate payment basis.
Scofiled Sbl Ifmr Capital 2017        Series A1 PTCs #   CARE BBB+      90.4    Assigned
#The PTCs rated based on ultimate payment basis.
Spectra Realcon Llp                   LT Bk Fac          CARE BB-       162.4   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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