February 10, 2014 / 6:17 AM / 5 years ago

CARE ratings for Indian debt instruments-Feb 10

Feb 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 7, 2014.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
3F Industries Ltd                     ST Bk Fac          CARE A2        4350    Reaffirmed
Allanasons Ltd                        ST Bk Fac          CARE A1+       4000    Reaffirmed
Bokaro Jaypee Cement Ltd              ST Bk Fac          CARE A3+       800     Revised from
                                                                                CARE A3

Brainwave Medical Technology Pvt Ltd  ST Bk Fac          CARE A4        20      Reaffirmed
Export-Import Bank Of India           ST CP Programme    CARE A1+       -       Reaffirmed
Frigorifico Allana Ltd                Proposed ST Bk Fac CARE A1+       1000    Reaffirmed
                                      (Working Capital)
Hdfc Ltd.                             ST Bk Fac          CARE A1+       163820  Reaffirmed
(reduced from Rs.23,122 crore)
Ind Barath Power Gencom Ltd           ST Bk Fac          CARE A4        960     Reaffirmed
J. K. Wheels Pvt Ltd                  ST Bk Fac          CARE A4        10      Assigned
J.R. Tantia Charitable Trust          ST Bk Fac          CARE A4        60      Assigned
Jigar Transport Company               ST Bk Fac          CARE A4        12      Assigned
Medi Assist India Tpa Pvt Ltd         ST Bk Fac          CARE A1+       500     Revised from
                                                                                CARE A1
(enhanced from 40 Cr)
Pundrik Textile Mills Pvt Ltd         ST Bk Fac          CARE A4+       5       Reaffirmed
Reliable Hi-Tech Infrastructure Pvt LtST Bk Fac          CARE A4        130     Assigned
Ruby Macons Ltd                       ST Bk Fac          CARE A1+       100     Reaffirmed
(enhanced from 7.50 crore)
S. D. Corporation Pvt Ltd             CP issue*          CARE A1+ (SO)  450     Assigned
* backed by an unconditional and irrevocable Corporate Guarantee provided by Shapoorji Pallonji
& Company Ltd.
S. D. Corporation Pvt Ltd             Proposed CP issue* CARE A1+ (SO)  800     Reaffirmed
                                                         In-principle
* backed by an unconditional and irrevocable Corporate Guarantee provided by Shapoorji Pallonji
& Company Ltd.
Seya Industries Ltd                   ST Bk Fac          CARE A4+       60      Assigned
Shalco Industries Pvt Ltd             ST Bk Fac          CARE A4        80      Reaffirmed
Shivkrupa Cotfiber Pvt Ltd            ST Bk Fac          CARE A4        20      Assigned
Shri Mahalaxmi Industries             ST Bk Fac          CARE A4+       92      Revised from
                                                                                CARE A4
The Oudh Sugar Mills Ltd              ST Bk Fac          CARE A4        613     Reaffirmed
Trinity Touch Pvt Ltd                 ST Bk Fac          CARE A4        50      Reaffirmed
Vandana Global Ltd                    ST Bk Fac          CARE A4        1470    Reaffirmed
Varad Fertilizers                     ST Bk Fac          CARE A4        0.3     Reaffirmed
Vedant International Garments         ST Bk Fac          CARE A4        100     Assigned
Manufacturing Ltd

MEDIUM TERM RATINGS:
-------------------
Newlink Overseas Finance Ltd          Fixed Deposits     CARE BBB (FD)  250     Reaffirmed
(enhanced from 10 Cr)

LONG TERM RATINGS:
-------------------
3F Industries Ltd                     LT Bk Fac          CARE BBB+      2710.3  Reaffirmed
(reduced from 291.02 Cr)
3F Oil Palm Agrotech Pvt Ltd          LT Bk Fac@         CARE BBB+ (SO) 143     Reaffirmed
(@ backed by the unconditional and irrevocable corporate guarantee provided by 3F 
Industries Limited (rated CARE BBB+/CARE A2)
Aquagel Chemicals Pvt Ltd             Bk Fac             CARE A+ /CARE  -       Suspended
                                                         A1
Arg Royal Ensign Developers Pvt Ltd   LT Bk Fac          CARE B+        120     Revised from
                                                                                CARE BB-
Arihant Organics Pvt Ltd              LT Bk Fac          CARE B+        69      Assigned
Arya Diamond Jewellery India Pvt. Ltd Bk Fac             CARE BBB-      -       Suspended
Bhagwan Mahavir Education Foundation  LT Bk Fac          CARE BBB-      993.9   Revised from
                                                                                CARE BB+
(Reduced from 137.87 Cr)
Bokaro Jaypee Cement Ltd              LT Bk Fac          CARE BBB+      2595.5  Revised from
                                                                                CARE BBB
(reduced from 314.42 Cr)
Brainwave Medical Technology Pvt Ltd  LT Bk Fac          CARE BB-       70      Revised from
                                                                                CARE B+
Chitkara Education Trust              LT Bk Fac          CARE BBB-      970.7   Revised from
                                                                                CARE BB
Export-Import Bank Of India           LT Bk Borrowing    CARE AAA       -       Reaffirmed
                                      Programme
Export-Import Bank Of India           CD ^               CARE AAA /     -       Reaffirmed
                                                         CARE A1+
^interchangeable long term / short term limit
Ferani Hotels Pvt Ltd                 LT Bk Fac          CARE BBB+      1057    Reaffirmed
(reduced from 106.80 Cr)
Fine Components And Tools Pvt Ltd     LT Bk Fac (TL)     CARE BBB+      108     Reaffirmed
(enhanced from 10.55 Cr)
Fine Components And Tools Pvt Ltd     LT Bk Fac (FB)     CARE BBB+      120     Reaffirmed
(enhanced from 4.00 Cr)
Foods And Inns Ltd                    LT Bk Fac          CARE B+        750     Assigned
Gallops Motors Pvt Ltd                LT Bk Fac          CARE BB        360     Reaffirmed
(enhanced from Rs.33 crore)
Gati Infrastructure Bhasmey Power Pvt LT Bk Fac          CARE D         1000    Revised from
Ltd                                                                             CARE B+
Gyanjeet Sewa Mission Trust           LT Bk Fac          CARE B+        1800    Assigned
Gyanjeet Sewa Mission Trust           LT Bk Fac          CARE B+ /CARE  95      Assigned
                                                         A4
Hdfc Ltd.                             LT Bk Fac          CARE AAA       57550   Reaffirmed
(reduced from Rs.7,751 crore)
Ind Barath Energy Utkal Ltd           LT Instruments     CARE BB+       28330   Reaffirmed
Ind Barath Power Gencom Ltd           LT Bk Fac          CARE BB-       4031    Revised from
                                                                                CARE C
(reduced from 473.74 Cr)
Ind Barath Thermal Power Ltd          LT Bk Fac          CARE BB        11489.2 Reaffirmed
(enhanced from 1079.61 Cr)
J. K. Wheels Pvt Ltd                  LT Bk Fac          CARE B         49.5    Assigned
J.R. Tantia Charitable Trust          LT Bk Fac          CARE BB        77.7    Assigned
Jalaram Ginning And Pressing          LT Bk Fac          CARE B+        64.7    Assigned
Jigar Transport Company               LT Bk Fac          CARE BB        129.9   Assigned
Jupiter Laminators Pvt Ltd            LT Bk Fac          CARE BBB-      10.4    Assigned
Jupiter Laminators Pvt Ltd            LT Bk Fac          CARE BBB-/     300     Assigned
                                                         CARE A3
Kosas Exports Ltd                     Bk Fac             CARE BB-/      -       Suspended
                                                         CARE A4
Kosas Industries Pvt Ltd              Bk Fac             CARE B+ /      -       Suspended
                                                         CARE A4
M.P.K. Ispat (I) Pvt Ltd              LT Bk Fac          CARE B+        136.8   Reaffirmed
Mayur Ginning And Pressing Pvt Ltd    LT Bk Fac          CARE B/CARE A4 100     Reaffirmed
Mmc Projects (India) Pvt. Ltd.        Bk Fac             CARE C/CARE A4 -       Suspended
National Bank For Agriculture And RuraLT Instruments     -              17500   Withdrawn
Development
National Bank For Agriculture And RuraLT Instruments     CARE AAA       151700  Reaffirmed
Development
Newlink Overseas Finance Ltd          NCD                CARE BBB-      167.4   Reaffirmed
(reduced from 25 Cr)
Pheroze Framroze & Company Pvt Ltd    Bk Fac (CC Limits) CARE BB-       390     Reaffirmed
Pundrik Textile Mills Pvt Ltd         LT Bk Fac          CARE BB+       185.8   Revised from
                                                                                CARE BB
(Reduced from Rs.21.36 crore)
Pundrik Textile Mills Pvt Ltd         LT / ST Bk Fac*    CARE BB+/      67      Revised from
                                                         CARE A4+               CARE BB /
                                                                                Reaffirmed
*Reclassification of the facilities from long-term to long-term/short-term
Rational Handloom Company Pvt Ltd     LT Bk Fac          CARE B+        579.6   Revised from
                                                                                CARE B
(enhanced from Rs.39.80 crore)
Rccl Infrastructure Ltd               LT Fac             CARE BBB-      187.5   Reaffirmed
Redphoenix Consultancy Pvt Ltd        LT Bk Fac          CARE BBB-      64      Placed under
                                                                                "Credit Watch"
(reduced from 8.81 Cr)
Reliable Hi-Tech Infrastructure Pvt LtLT Bk Fac          CARE BB+       60      Assigned
Rishi Ice & Cold Storage Pvt Ltd      LT Bk Fac          CARE B         140     Revised from
                                                                                CARE C
(enhanced from 7.70 Cr)
Ruby Macons Ltd                       LT Bk Fac          CARE A+        635     Reaffirmed
Sanmar Shipping Ltd                   LT Bk Fac          CARE BBB-      2059.8  Reaffirmed
Seya Industries Ltd                   LT Bk Fac          CARE BB+       880     Assigned
Shalco Industries Pvt Ltd             LT Bk Fac          CARE B+        40      Reaffirmed
Shapoorji Pallonji & Co. Ltd          Proposed NCD       CARE AA+       1000    Reaffirmed
Shivkrupa Cotfiber Pvt Ltd            LT Bk Fac          CARE B         39.6    Assigned
Shree Raj Mahal Jewellers Ltd         LT Bk Fac          CARE BB+       1250    Revised from
                                                                                CARE BB
Sjs Holdings Ltd                      Bk Fac             CARE BB /CARE          Suspended
                                                         A4
Sonarch International Pvt Ltd         LT / ST Bk Fac     CARE B+ /CARE  200     Reaffirmed
                                                         A4
Sumal India                           LT Bk Fac          CARE BB        100     Reaffirmed
The Oudh Sugar Mills Ltd              LT Bk Fac          CARE BB-       7028.8  Reaffirmed
(reduced from 715.10 Cr)
The Oudh Sugar Mills Ltd              LT / ST Bk Fac     CARE BB- /CARE 15      Reaffirmed
                                                         A4
Trinity Touch Pvt Ltd                 LT Bk Fac          CARE BB-       163.1   Reaffirmed
(reduced from Rs.21.00)
Trinity Touch Pvt Ltd                 LT / ST Bk Fac*    CARE BB- /CARE 40      Reaffirmed
                                                         A4
* Reclassification of the facilities from long term to long term/short term
Vandana Global Ltd                    LT Bk Fac          CARE BB+       1006    Reaffirmed
Vandana Global Ltd                    LT / ST Bk Fac*    CARE BB+ /CARE 350     Reaffirmed
                                                         A4
Varad Fertilizers                     LT Bk Fac          CARE BB-       50      Revised from
                                                                                CARE B+
(reduced from 5.25 Cr)
Vardhman Casting Pvt Ltd              Bk Fac             CARE B+                Suspended
Vedant International Garments         LT Bk Fac          CARE BB        113     Assigned
Manufacturing Ltd
Viation Energy Pvt Ltd                LT Bk Fac@         CARE BBB+ (SO) 454.3   Reaffirmed
(@ backed by unconditional and irrevocable corporate guarantee provided by 3F Industries Limited
(rated CARE BBB+/CARE A2)
Vishrut Housing Pvt. Ltd              LT Bk Fac          CARE BB-       149.9   Reaffirmed
(reduced from 16.75 Cr)
Vishwanath Transformers Ltd           TL                 -              -       Withdrawn
Vishwanath Transformers Ltd           LT Bk Fac          CARE BB        135     Reaffirmed
Vishwanath Transformers Ltd           LT / ST Bk Fac     CARE BB /CARE  140     Reaffirmed
                                                         A4
Yeshodeep Infrastructure Pvt Ltd      Bk Fac             CARE BB-/CARE  -       Suspended
                                                         A4
--------------------------------------------------------------------------------------------
$: 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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