July 11, 2017 / 5:08 AM / a month ago

CARE ratings for Indian debt instruments-Jul 11

    Jul 11 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 10, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A Infrastructure Ltd                  ST Bk Fac          CARE A4        359     Assigned
Amol Dicalite Ltd                     ST Bk Fac          CARE A2        75      Revised from
                                                                                CARE A3+
enhanced from Rs.6.00 crore

Anjani Tiles Ltd                      ST Bk Fac          CARE A3+       90      Assigned
Bajaj Hindusthan Sugar Ltd            ST Bk Fac          CARE D         3290.4  Revised from
                                                                                CARE A4+
Coral Teleocm Ltd                     ST Bk Fac          CARE A4        70      Reaffirmed
Dc Industrial Plant Services Pvt Ltd  ST Bk Fac          CARE A4        100     Assigned
Future Consumer Ltd                   CP                 CARE A1        1000    Assigned
Gautam Freight Pvt. Ltd.              ST Bk Fac          CARE A3+       950     Reaffirmed
enhanced from 6 CR
Gujarat State Petroleum Corporation LtST Bk Fac          CARE A2        60000   Revised from
                                                                                CARE A1
Housing Development Finance CorporatioST Bk Fac          CARE A1+       180328.8Reaffirmed
Ltd
enhanced from 12,855.63 CR
Mark Steels Ltd                       ST Bk Fac          CARE A3        28      Assigned
Neetal Impex                          ST Bk Fac          CARE A4        14      Assigned
Parvati Industries Pvt Ltd            ST Bk Fac          CARE A4        50      Reaffirmed
Passion Industries Pvt Ltd            ST Bk Fac          CARE A4        40      Reaffirmed
Increased from 1 CR
Pratibha Engineering Services         ST Bk Fac          CARE A4        77.6
Issuer not cooperating
Precot Meridian Ltd                   ST Bk Fac          CARE A3        445     Revised from
                                                                                CARE A4+
Pruthvi Builders                      ST Bk Fac          CARE A4+       75      Assigned
Sega Granito Llp                      ST Bk Fac          CARE A4        48.1    Assigned
Srikalahasthi Pipes Ltd               ST Bk Fac          CARE A1+       3200    Reaffirmed
Srikalahasthi Pipes Ltd               CP^                CARE A1+       750     Reaffirmed
^ aggregate of commercial paper and other fund based working capital borrowings should be within
the assessed fund based working capital limits
Texmaco Infrastructure & Holdings Ltd ST Bk Fac          CARE A1+       125     Assigned
Vinati Organics Ltd                   ST Bk Fac          CARE A1+       316.5   Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Icici Home Finance Company Ltd        FD                 CARE AAA (FD)  20000   Reaffirmed


LONG TERM RATINGS:
-------------------
A Infrastructure Ltd                  LT Bk Fac          CARE BB+       470     Assigned
A Infrastructure Ltd                  Bk Fac             CARE BB+ /A4   105     Assigned
A2Z Infra Engineering Ltd             LT Bk Fac          CARE D         9317.8  Reaffirmed
reduced from 1,018.54 CR
A2Z Infra Engineering Ltd             ST Bk Fac          CARE D         10166.9 Reaffirmed
reduced from 1,251.46 CR
Amol Dicalite Ltd                     LT Bk Fac          CARE BBB+      21.6    Revised from
                                                                                CARE BBB
reduced from Rs.4.39 crore
Amol Dicalite Ltd                     Bk Fac             CARE BBB+ /A2  50      Revised from
                                                                                CARE BBB /A3+
Anjani Tiles Ltd                      LT Bk Fac          CARE BBB       510     Revised from
                                                                                CARE BBB-
Bajaj Finance Ltd                     NCD                CARE AAA       15450   Reaffirmed
Bajaj Finance Ltd                     Subordinated debt  CARE AAA       34550   Reaffirmed
Bajaj Finance Ltd                     Issuer Rating      CARE AAA (Is)          Reaffirmed
Bajaj Hindusthan Sugar Ltd            LT Bk Fac          CARE D         87805.8 Revised from
                                                                                CARE BB+
Coral Teleocm Ltd                     LT Bk Fac          CARE B+        66.5    Reaffirmed
Reduced from 7.75 CR
Damodar Valley Corporation            LT Bond Issue      CARE AAA (SO)  44000   Reaffirmed
                                      (Series II)
Damodar Valley Corporation            LT Bond Issue      CARE AAA (SO)  26000   Reaffirmed
                                      (Series III)
Dc Industrial Plant Services Pvt Ltd  LT Bk Fac          CARE C         20      Assigned
Dhanania Rubber Ltd                   LT Bk Fac          CARE BBB-      100     Reaffirmed
Gautam Freight Pvt. Ltd.              LT Bk Fac          CARE BBB       230     Reaffirmed
enhanced from 4 CR
Gujarat Hy-Spin Ltd                   LT Bk Fac          CARE BB-       325.8   Revised from
                                                                                CARE BB-
reduced from 38.89 CR
Gujarat Hy-Spin Ltd                   Bk Fac             CARE BB- /A4   20      Revised from
                                                                                CARE BB- /A4
Gujarat State Petroleum Corporation   Subordinated NCD   CARE BBB       10000   Revised from
                                                                                CARE A
Gujarat State Petroleum Corporation   Subordinated NCD   CARE BBB       10000   Revised from
                                                                                CARE A
Gujarat State Petroleum Corporation   LT Bk Fac          CARE BBB+      153723.5Revised from
                                                                                CARE A+
reduced from 15,717.04 CR
Gujarat State Petroleum Corporation   NCD                CARE BBB+      40000   Revised from
                                                                                CARE A+
Hdfc Credila Financial Services Pvt   Perpetual Debt     CARE AA+       1500    Upgraded from
                                                                                CARE AA
Hdfc Credila Financial Services Pvt   NCD                CARE AAA       7000    Upgraded from
                                                                                CARE AA+
Hdfc Credila Financial Services Pvt   Subordinate Debt   CARE AAA       1000    Upgraded from
                                                                                CARE AA+
Hdfc Credila Financial Services Pvt   Issuer rating      CARE AAA (Is)          Upgraded from
                                                                                CARE AA+ (Is)
Hinduja Housing Finance Ltd           LT Bk Fac          CARE AA-       4550    Revised from
                                                                                CARE A+
Hinduja Housing Finance Ltd           Bk Fac             CARE AA- /A1+  1050    Revised from
                                                                                CARE A+ /A1+
Housing Development Finance CorporatioLT Bk Fac          CARE AAA       62192.5 Reaffirmed
Ltd
reduced from 7,806.26 CR
Icici Home Finance Company Ltd        Senior Bonds       CARE AAA       72000   Reaffirmed
Icici Home Finance Company Ltd        Sub. Bonds         CARE AAA       5000    Reaffirmed
Icici Home Finance Company Ltd        Sub. Bonds         CARE AAA (SO)  2580    Reaffirmed
Icici Home Finance Company Ltd        Senior Bonds       CARE AAA (SO)* 9790    Reaffirmed
*based on Letter of comfort from ICICI Bank Ltd
Kalyan Infratech Pvt Ltd              LT Bk Fac          --                     Withdrawn
Keti Sangam Infrastructure (India) LtdLT Bk Fac          --                     Withdrawn
Lincon Polymers Pvt Ltd               LT Bk Fac          --                     Withdrawn
Lincon Polymers Pvt Ltd               ST Bk Fac          --                     Withdrawn
Lincon Polymers Pvt Ltd               Bk Fac             --                     Withdrawn
Mark Steels Ltd                       LT Bk Fac          CARE BBB       65      Assigned
Mark Steels Ltd                       Bk Fac             CARE BBB /A3   35      Assigned
Meghmani Finechem Ltd.                LT Bk Fac (TL)     --                     Withdrawn
Meghmani Finechem Ltd.                LT Bk Fac (Fund    --                     Withdrawn
                                      Based)
Mevada Oil Mill Pvt Ltd               LT Bk Fac          CARE BB-       146     Assigned
Neetal Impex                          LT Bk Fac          CARE B+        35.1    Assigned
Neetal Impex                          Bk Fac             CARE B+ /A4    35      Assigned
Pahal Financial Services Pvt Ltd      NCD                CARE BB        150     Reaffirmed
Pahal Financial Services Pvt Ltd      Non-Convertible    CARE BB-       30      Assigned
                                      Redeemable
                                      Cumulative PS
Parvati Industries Pvt Ltd            LT Bk Fac          CARE BB+       340     Reaffirmed
Passion Industries Pvt Ltd            LT Bk Fac          CARE B+        109     Reaffirmed
Reduced from 13.96 CR
Pratibha Engineering Services         LT Bk Fac          CARE BB        15
Issuer not cooperating
Pratibha Engineering Services         Bk Fac             CARE BB /A4    50
Issuer not cooperating
Precot Meridian Ltd                   LT Bk Fac          CARE BBB-      2680.2  Revised from
                                                                                CARE BB+
enhanced from 222.89 CR
Precot Meridian Ltd                   Bk Fac             CARE BBB- /A3  1465    Revised from
                                                                                CARE BB+ /A4+
Reduced from 173.50 CR
Pruthvi Builders                      LT Bk Fac          CARE BB        30      Assigned
Sansar Trust June 2017 (Originator:   Second Loss        CARE A (SO)    560.2   Provisional
Shriram Transport Finance Company Ltd.Facility
Sansar Trust June 2017 (Originator:   Series A PTC       CARE AAA (SO)          Assigned
Shriram Transport Finance Company Ltd.)
Sansar Trust June 2017 (Originator:   First Loss FacilityUnrated        500.2
Shriram Transport Finance Company Ltd.)
Sega Granito Llp                      LT Bk Fac          CARE BB-       150     Assigned
Shiv Ganesh Industries                LT Bk Fac          CARE B+        55      Assigned
Shree Ganesh Cold Storage             LT Bk Fac          CARE B         60      Reaffirmed
Spn Laboratories Pvt Ltd              LT Bk Fac          CARE B+        60      Assigned
Srikalahasthi Pipes Ltd               LT Bk Fac          CARE A+        3319.3  Reaffirmed
Tekno Print Solutions                 LT Bk Fac          CARE D         48      Reaffirmed
Tekno Print Solutions                 ST Bk Fac          CARE D         2       Reaffirmed
Texmaco Infrastructure & Holdings Ltd LT Bk Fac          CARE A+        5       Assigned
Vaibhav Rice Mill                     LT Bk Fac          CARE BB        85.9    Revised from
                                                                                CARE BB
Issuer not cooperating; Reduced from 8.96 CR
Vinati Organics Ltd                   LT Bk Fac (TL)*    --                     Withdrawn
reduced from 17.56 CR; *The rating for the term loan stands withdrawn as the company has paid
off the loan and there are no outstanding dues for the same
Vinati Organics Ltd                   Bk Fac             CARE AA- /A1+  300     Reaffirmed
Vinati Organics Ltd                   Bk Fac             CARE AA- /A1+  500     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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