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CARE ratings for Indian debt instruments-Sep 11
September 11, 2013 / 5:58 AM / 4 years ago

CARE ratings for Indian debt instruments-Sep 11

Sep 11 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 10, 2013.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                      (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Eastman International Ltd             ST Bk Fac          CARE A4        70      Assigned
JVS Foods Ltd                         ST Bk Fac          CARE A3        35      Assigned
KG Petrochem Ltd                      ST Bk Fac          CARE A3        222     Reaffirmed
Kottex Industries Pvt Ltd             ST Bk Fac          CARE A3(SO)    129.5   Revised from
                                                                                CARE A4
(enhanced by Rs.6.95 crore)
Mangal Keshav Capital Ltd.            CP issue           CARE A1        -       Withdrawn
Murti Udyog Ltd                       ST Bk Fac          CARE A4        10      Assigned
Navin Fluorine International Ltd      ST Bk Fac          CARE A1+       1350    Reaffirmed
Navin Fluorine International Ltd      CP (carved out of  CARE A1+       300     Reaffirmed
                                      WC Borrowings)
Neo Capricon Plaza Pvt Lim            ST Bk Fac          CARE A4        50      Reaffirmed
Purti Textiles Mills                  ST Bk Fac          CARE A4        20      Assigned
Rita International                    ST Bk Fac          CARE A4        25      Assigned
Safe & Secure Logistics Pvt Ltd       ST Bk Fac          CARE A4        5       Assigned
Sahota Papers Ltd                     ST Bk Fac          CARE A3+       6       Assigned
Shree Sales Corporation               ST Bk Fac          CARE A4        26      Assigned
Smita Conductors Ltd                  ST Bk Fac          CARE A1        3180    Reaffirmed
Sonkamal Enterprises Pvt Ltd          ST Bk Fac          CARE A4+       305     Reaffirmed
                                      (Non-fund Based)
Taneja Vidyut Control Pvt Ltd         ST Bk Fac          CARE A4        30      Assigned
Vishaal Natural Food Products India PvST Bk Fac          CARE A4        56      Reaffirmed
Ltd
(enhanced from Rs.4.60 crore)

LONG TERM RATINGS:
-------------------
Arpit International Pvt Ltd           LT/ST Bk Fac       CARE B+/      62.5    Reaffirmed
                                                         CARE A4  
Bangalore Motors Pvt Ltd              Bk Fac             CARE BBB-      -       Suspended
Centur Gems                           Long/ST Bk Fac     CARE BB-/A4    75      Assigned
Eastman International Ltd             LT Bk Fac          CARE BB        100.4   Assigned
Eastman International Ltd             LT / ST Bk Fac     CARE BB /CARE  32.5    Assigned
                                                         A4
Etco Denim Pvt Ltd                    LT Bk Fac          CARE B         2370    Assigned
Indian Microfinance Loan Receivables  Series A1 PTCs     -              -       Withdrawn
Trust Dec 2012 B
Jalnidhi Bitumen Specialties Pvt. Ltd Bk Fac             CARE BB-/CARE  -       Suspended
                                                         A4
JMV Lifestyle                         Bk Fac             CARE BB-/CARE  -       Suspended
                                                         A4
JVS Foods Ltd                         LT Bk Fac          CARE BBB-      80      Assigned
Kabir Gems                            LT Bk Fac/ ST Bk   CARE B+ /CARE  84.5    Assigned
                                      Fac                A4
Karnani Solvex Pvt Ltd                LT Bk Fac          CARE BB        70.1    Assigned
Karnani Solvex Pvt Ltd                LT/ ST Bk Fac      CARE BB /CARE  180     Assigned
                                                         A4
KG Petrochem Ltd                      LT Bk Fac          CARE BBB-      392.9   Reaffirmed
(enhanced from Rs.37.32 crore)
Kottex Industries Pvt Ltd             LT Bk Fac          CARE BBB- (SO) 296.1   Revised from
                                                                                CARE BB
(enhanced by Rs.3.00 crore)
Laxmi Venkatesh Ginning And Pressing  LT Bk Fac          CARE B         77.5    Assigned
Factory
MAA Pyari Steel Pvt. Ltd              Bk Fac             CARE B         -       Suspended
Mithra Kyokuto Special Purpose VehicleLT Bk Fac          CARE BB-       100     Assigned
Company Pvt Ltd
Murti Udyog Ltd                       LT Bk Fac          CARE B+        67      Assigned
Nahalchand Laloochand Pvt Ltd         LT Bk Fac          CARE B         53.4    Assigned
Navin Fluorine International Ltd      LT Bk Fac          CARE AA-       800     Reaffirmed
Neo Capricon Plaza Pvt Lim            LT Bk Fac          CARE B+        925     Reaffirmed
NLC Tamilnadu Power Ltd               LT Bk Fac          CARE AAA(SO)   34370   Reaffirmed
Purti Textiles Mills                  LT Bk Fac          CARE BB-       50      Assigned
Rita International                    LT Bk Fac          CARE BB        75.4    Assigned
Rita International                    LT / ST Bk Fac     CARE BB/CARE   20      Assigned
                                                         A4
Safe & Secure Logistics Pvt Ltd       LT Bk Fac          CARE BB-       140     Assigned
Sahota Papers Ltd                     LT Bk Fac          CARE BBB       48      Assigned
Sairam Suitings Pvt Ltd               LT Bk Fac          CARE B+        56.8    Assigned
Shree Sales Corporation               LT Bk Fac          CARE BB-       14.1    Assigned
Shree Sales Corporation               LT/ ST Bk Fac      CARE BB-/CARE  34      Assigned
                                                         A4
Smita Conductors Ltd                  LT Bk Fac          CARE A         220     Reaffirmed
Sonkamal Enterprises Pvt Ltd          LT Bk Fac          CARE BB+       175     Revised from
                                                                                CARE BB
Sree Parimala Cotton Ginning And      LT Bk Fac          CARE B         62.5    Assigned
Pressing Factory
Taneja Vidyut Control Pvt Ltd         LT Bk Fac          CARE BB-       25      Assigned
Vatika Hotels Pvt Ltd                 LT Bk Fac (TL)     CARE BB+       3679.4  Revised from
                                                                                CARE BBB-
(enhanced from 334.04)
Vatika Hotels Pvt Ltd                 LT Bk Fac          CARE BB+       300     Revised from
                                                                                CARE BBB-
Versatile Wires Ltd                   Bk Fac             CARE B/CARE A4 -       Suspended
Vinayak Education Society             LT Bk Fac          CARE BB        147.6   Assigned
Vishaal Natural Food Products India   LT Bk Fac          CARE BB-       10.3    Reaffirmed
Pvt Ltd
(reduced from Rs.1.30 crore)
--------------------------------------------------------------------------------------------
$: 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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