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CARE ratings for Indian debt instruments-Mar 26 Part-II
March 26, 2014 / 7:18 AM / 3 years ago

CARE ratings for Indian debt instruments-Mar 26 Part-II

Mar 26 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 25, 2014.(Part-II)

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                      (RS.MLN)
-------                               ----------         ------        -------  ---------
LONG TERM RATINGS:
-------------------
A.A. & Brothers                       Bk Fac              -                      Suspended
A.G. Enterprise                       LT/ST Bk Fac       CARE BB /CARE  100     Reaffirmed
                                                         A4+
Aaj Ka Anand Papers Ltd               Bk Fac             CARE BBB-              Suspended
                                                         /CARE A3
Adi Texfab Llp                        LT Bk Fac          CARE BBB       388.3   Revised from
                                                                                CARE BBB- 

Anamayee Pharmachem Pvt Ltd           Total Bk Fac       -                      Suspended
Anand Tradelink Pvt Ltd               LT Bk Fac          CARE BBB-      5.4     Revised from
                                                                                CARE BB+
Anand Tradelink Pvt Ltd               Long/ST Bk Fac     CARE BBB-      50      Revised from
                                                         /CARE A3               CARE BB+/
                                                                                CARE A4
Aryavrat Housing Construction Pvt Ltd Bk Fac             CARE BB-               Suspended
Ashford Infotech Pvt Ltd              LT Bk Fac          CARE BB+       750     Reaffirmed
Asr Exports Pvt Ltd                   LT Bk Fac          CARE BB-       30      Reaffirmed
Asr Exports Pvt Ltd                   LT/ST Bk Fac       CARE BB-/CARE  40      Reaffirmed
                                                         A4
Associated Lighting Company           Bk Fac             CARE BB /CARE          Suspended
                                                         A4+
Awa Power Company Pvt Ltd             LT Bk Fac (TL)     CARE D         106.2   Reaffirmed
Birin Spinning Mills Ltd              LT Bk Fac          CARE BB-       81.8    Reaffirmed
Br Designs Pvt Ltd                    LT Bk Fac          CARE BB        301.8   Assigned
Ceat Ltd                              LT Bk Fac          CARE A         11847.8 Revised from
                                                                                CARE BBB
Centrumdirect Ltd                     LT Bk Fac          CARE BBB       655     Reaffirmed
City Centre Mall Nashik Pvt Ltd       LT Bk Fac          CARE BB        250.9   Reaffirmed
Deesan Ginning And Pressing Pvt Ltd   LT Bk Fac          CARE B+        150     Revised from
                                                                                CARE B
Dev Aromatic Pvt Ltd                  Bk Fac             CARE BB-               Suspended
Edu Smart Services Pvt. Ltd.          LT Bk Fac          CARE D         1887.6  Reaffirmed
Educomp Solutions Ltd                 Receivables        CARE D         4040.8  Reaffirmed
                                      Assignment Facility
Educomp Solutions Ltd                 LT Bk Fac          CARE D         2990.7  Reaffirmed
Educomp Solutions Ltd                 NCDs               CARE D         2000    Reaffirmed
Educomp Solutions Ltd                 Long/ST Bk Fac     CARE D/CARE D  4100    Reaffirmed
Emi Transmission Ltd                  LT Bk Fac          CARE BBB+      2250    Reaffirmed
Everest Kanto Cylinder Ltd.           LT Bk Fac          CARE BB+       4453.6  Reaffirmed
Frost Infrastructure And Energy Ltd   LT Bk Fac          CARE BBB-      50      Assigned
Gajanand Cottex Pvt Ltd               LT Bk Fac          CARE B         77.1    Assigned
Gajlaxmi Steel Pvt Ltd                LT Bk Fac          CARE B+        82.5    Assigned
Globe Cotyarn Pvt Ltd                 LT Bk Fac          CARE BB        440     Reaffirmed
Grant Infrastructure Pvt Ltd          NCD issue          CARE B+                Withdrawn
Hind Inns & Hotels Ltd.               LT Bk Fac          CARE D         278.5   Revised from
                                                                                CARE BB-
Ideas Engineers                       LT Bk Fac          CARE BB        20      Reaffirmed
Ig3 Infra Ltd                         LT Bk Fac          CARE D         3913.1  Reaffirmed
J. K. Industries                      LT/ST Bk Fac       CARE BB /CARE  80      Reaffirmed
                                                         A4+
Jadhav Industries                     LT Bk Fac          CARE BBB-      50.2    Revised from
                                                                                CARE BB+
Jai Ram Agro Industries               LT Bk Fac          CARE B         63.9    Assigned
Jain Infraprojects Ltd                LT Bk Fac          CARE D         19120   Reaffirmed
Jain Infraprojects Ltd                LT/ST Bk Fac       CARE D/CARE D  3200    Reaffirmed
Jobby Engineers Pvt Ltd               LT Bk Fac          CARE BBB-      63      Revised from
                                                                                CARE BB+
Kalyan Sangam Infratech Ltd           LT Bk Fac          CARE D         2445    Revised from
                                                                                CARE B
Karan Letex Ltd                       LT Bk Fac          CARE BB        84      Reaffirmed
Keshranand Ginning & Pressing Factory Bk Fac             CARE B+                Suspended
Pvt Ltd
M & B Engineering Ltd                 LT Bk Fac          CARE BBB-      184.2   Reaffirmed
M & B Engineering Ltd                 LT/ST Bk Fac       CARE BBB-/CARE 618.5   Reaffirmed
                                                         A3
Miraj Multicolour Pvt Ltd             LT Bk Fac          CARE BB+       99      Reaffirmed
Moonlite Technochem Pvt. Ltd          Bk Fac             CARE BB (SO)           Suspended
                                                         /CARE A4 (SO)
Munimji & Sons                        LT Bk Fac          CARE BB        87.1    Reaffirmed
Nagreeka Exports Ltd                  LT Bk Fac          CARE BBB       892.3   Reaffirmed
Neeta Chemicals (India) Pvt Ltd       Bk Fac             CARE B+ /CARE          Suspended
                                                         A4
Om Hospitality Pvt Ltd                LT Bk Fac          CARE BB+       116.4   Reaffirmed
Orchid Foams & Bubble Pvt Ltd         Bk Fac             CARE B /CARE A4        Suspended
Oriental Pathways (Nagpur) Pvt Ltd    LT Bk Fac          CARE BBB-      1151.5  Reaffirmed
Prabha Steel Industries               LT Bk Fac          CARE BBB-      9.5     Reaffirmed
Pradeep Fibers Pvt Ltd                LT Bk Fac          CARE BB        80      Reaffirmed
Prakash Constrowell Ltd               Bk Fac                                    Suspended
Rishi Shipping                        LT Bk Fac          CARE BBB+      545     Revised from
                                                                                CARE BBB
Rishi Shipping                        LT Bk Fac          CARE BBB+/CARE 80      Revised from
                                                         A2                     CARE BBB/CARE
                                                                                A3+
Rizwan Export House                   LT Bk Fac          CARE BB-       228.4   Reaffirmed
Rohit & Company                       LT Bk Fac          CARE BB+       400     Reaffirmed
Sbi Global Factor Ltd                 Subordinate Tier   CARE AAA       300     Reaffirmed
                                      II Bonds
Scholar International Educational     Bk Fac             CARE B+                Suspended
Foundation
Semler Research Center Pvt Ltd        LT Bk Fac          CARE BB-       40      Reaffirmed
Shantamani Enterprise                 LT/ST Bk Fac       CARE BB /CARE  80      Revised from
                                                         A4+                    CARE BB- /
                                                                                CARE A4
Shri Girraj Industries                LT Bk Fac          CARE B+        62.5    Revised from
                                                                                CARE BB-
Somany Foam Ltd                       Bk Fac             CARE BBB-              Withdrawn
                                                         /CARE A3
Sri Bhagwan Mahaveer Jain Educational LT Bk Fac          CARE BBB       947.9   Assigned
And Cultural Trust
Sukhbir Solar Energy Pvt Ltd          LT Bk Fac          CARE BBB-      76.2    Reaffirmed
Sulochana Cotton Spinning Mills Pvt   LT Bk Fac          CARE BB+       2582.8  Revised from
Ltd                                                                             CARE BB
Suyash Motors (Unit Of Paton LogisticsBk Fac             CARE B /CARE A4        Suspended
Services Pvt Ltd)
Swati Menthol & Allied Chemicals Ltd  Bk Fac                                    Suspended
Ual Industries Ltd.                   LT Bk Fac          CARE A         1163.7  Reaffirmed
Vikas Global One Ltd                  Bk Fac             CARE BB /CARE          Suspended
                                                         A4
V-Mart Retail Ltd                     LT Bk Fac          CARE A-        380     Reaffirmed
Welspun Maxsteel Ltd                  LT Bk Fac          CARE BB        13345.6 Suspension
                                                                                Revoked#
                                                                                Rating 
                                                                                revised 
                                                                                from 
                                                                                CARE BBB-
"#The ratings assigned to the aforementioned facilities were suspended in October 2012.
Subsequently, with the availability of requisite information to carry out the review, the
suspension of the rating is revoked and rating is revised"
Welspun Maxsteel Ltd                  LT/ST Bk Fac       CARE BB/       4000    Suspension
                                                         CARE A4                Revoked#
                                                                                Rating 
                                                                                revised 
                                                                                from CARE A3
"#The ratings assigned to the aforementioned facilities were suspended in October 2012.
Subsequently, with the availability of requisite information to carry out the review, the
suspension of the rating is revoked and rating is revised"
--------------------------------------------------------------------------------------------
$: 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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