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Company News

CARE ratings for Indian debt instruments-Mar 11

Mar 11 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 10, 2014.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                      (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
SRMB Srijan Ltd                       ST Bk Fac          CARE A3        1350    Reaffirmed
(enhanced from 95.0CR)
Anamika Conductors Ltd                ST Bk Fac          CARE A4        241.5   Reaffirmed
Balasaheb R Bhadane                   ST Bk Fac          CARE A4+       10      Assigned

Bundy India Ltd.                      ST Bk Fac          CARE A2        10      Revised from
                                                                                CARE A3+
Flora O Foods                         ST Bk Fac          CARE A4        100     Assigned
Ghaziabad Precision Products Pvt Ltd  ST Bk Fac          CARE A3        157     Reaffirmed
Granules India Ltd                    ST Bk Fac - FB     CARE A2        2507.2  Reaffirmed
Granules India Ltd                    ST Bk Fac - NFB    CARE A2        1379.8  Reaffirmed
Heligo Charters Pvt Ltd               ST Bk Fac          CARE A4        415     Reaffirmed
Himalayan Packaging Industries Pvt LtdST Bk Fac          CARE A4        85      Reaffirmed
Himalayan Polymer Industries          ST Bk Fac          CARE A4        45      Reaffirmed
Iscon Surgicals Ltd                   ST Bk Fac          CARE D         40      Revised from
                                                                                CARE A4
Karam Chand Thapar & Bros. (Coal SalesST Bk Fac          CARE A1+       400     Reaffirmed
Ltd.
Kishore Vadilal Pvt Ltd               ST Bk Fac          CARE A3+       50      Assigned
Omkar Realtors And Developers Pvt Ltd ST Bk Fac TL       CARE A3        750     Reaffirmed
Omkar Realtors And Developers Pvt Ltd ST Bk Fac NFB      CARE A3        500     Reaffirmed
Rajratan Global Wire Ltd              ST Bk Fac          CARE A4+       340     Reaffirmed
Real Strips Ltd                       ST Bk Fac          CARE A3        725     Reaffirmed
(enhanced from Rs.55.50 crore)
Regent Granito (India) Ltd            ST Bk Fac          CARE A4        170     Reaffirmed
Shivalay Ispat & Power Pvt. Ltd       ST Bk Fac          CARE A2(SO)    210     Reaffirmed
(same as last year)
Tata Housing Development Co. Ltd      CP                 CARE A1+       2500    Reaffirmed
(enhancement from 150)
Vizag Rebars Pvt Ltd                  ST Bk Fac          CARE A4        150     Assigned
    
LONG TERM RATINGS:
-------------------   
Aster Infratek Pvt Ltd                LT Bk Fac          CARE BB        100     Assigned
Aster Infratek Pvt Ltd                LT/ST Bk Fac       CARE BB /CARE  170     Assigned
                                                         A4
SRMB Srijan Ltd                       LT Bk Fac          CARE BBB-      1966.7  Reaffirmed
(enhanced from 176.67CR)
Anamika Conductors Ltd                LT Bk Fac          CARE BB        186.8   Reaffirmed
Astron Developers Pvt Ltd             LT Bk Fac          CARE D         150     Assigned
Balasaheb R Bhadane                   LT Bk Fac          CARE BB+       40      Assigned
Bharat Foods Cooperative Ltd          LT Bk Fac          CARE BBB-      130     Revised from
                                                                                CARE BB+
Bharat Foods Cooperative Ltd          LT/ST Bk Fac       CARE BBB-      1350    Revised from
                                                         /CARE A3               CARE BB+ /
                                                                                CARE A4+
(enhanced from Rs.105 crore)
Bundy India Ltd.                      LT Bk Fac          CARE BBB+      80      Revised from
                                                                                CARE BBB
(reduced from 18 CR)
Cheeka Rice Mill                      LT Bk Fac          CARE B+        65.6    Assigned
Equitas Finance Pvt Ltd               NCD Issue Series I CARE BBB+      500     Revised from
                                                                                CARE BBB
Equitas Finance Pvt Ltd               NCD Issue Series IICARE BBB+      580     Revised from
                                                                                CARE BBB
Equitas Finance Pvt Ltd               LT Bk Fac          CARE BBB+      4500    Revised from
                                                                                CARE BBB
Era Realtors Pvt Ltd                  LT Bk Fac*         CARE BBB-(SO)  4431    Reaffirmed
"(reduced from 475.00CR) @Out of the total facilities amounting Rs.443.10 crore, facilities
aggregating Rs.156.98 crore are backed by unconditional and irrevocable corporate guarantee
provided by Omkar Realtors and Developers Private Limited(ORDPL) and for facilities aggregating
Rs.286.12 crore, ORDPL is a co-obligor (Jointly and Severally liable). 
Flora O Foods                         LT Bk Fac          CARE BB        80      Assigned
Frontier Lifeline Pvt Ltd             LT Bk Fac          CARE D         898     Revised from
                                                                                CARE B
Ghaziabad Precision Products Pvt Ltd  LT Bk Fac          CARE BBB-      70.8    Reaffirmed
(reduced from 8.49 CR)
Granules India Ltd                    LT Bk Fac - TL     CARE BBB+      18.7    Reaffirmed
Granules India Ltd                    LT Bk Fac - FB     CARE BBB+      66      Reaffirmed
Heligo Charters Pvt Ltd               LT Bk Fac          CARE BB        270.5   Reaffirmed
Himalayan Packaging Industries Pvt LtdLT Bk Fac          CARE C         121.5   Reaffirmed
(reduced from Rs.15.42CR)
Himalayan Polymer Industries          LT Bk Fac          CARE C         167.4   Reaffirmed
(reduced from Rs.17.91CR)
ICICI Prudential Capital Protection   Close-Ended        CARE AAAmfs    -       Assigned
Oriented Fund Vi Plan A-H             Capital Protection (SO)
                                      Oriented Fund
Iscon Surgicals Ltd                   LT Bk Fac          CARE D         28.7    Revised from
                                                                                CARE BB+
Iscon Surgicals Ltd                   LT/ST Bk Fac       CARE D         100     Revised from
                                                                                CARE BB+ /
                                                                                CARE A4
Karam Chand Thapar & Bros. (Coal SalesLT Bk Fac          CARE AA        950     Reaffirmed
Ltd.
Karam Chand Thapar & Bros. (Coal SalesLT/ST Bk Fac       CARE AA /CARE  3050    Reaffirmed
Ltd.                                                     A1+
Keshav Forex & Travels Pvt. Ltd       LT Bk Fac          CARE BB        350     Reaffirmed
Kishore Vadilal Pvt Ltd               LT Bk Fac          CARE BBB-      30      Assigned
Kishore Vadilal Pvt Ltd               LT/ST Bk Fac       CARE BBB-      15      Assigned
                                                         /CARE A3
Nalini Jewellers                      LT/ST Bk Fac       CARE BB/ A4+   204     Revised from
                                                                                CARE BB-/A4
Omkar Realtors And Developers Pvt Ltd LT Bk Fac          CARE BBB-      2060    Reaffirmed
(Reduced from 1183.50CR)
Rajasthan Rajya Vidyut Prasaran Nigam LT Bk Fac          CARE BBB-      950     Reaffirmed
Ltd
(Reduced from 120 CR)
Rajratan Global Wire Ltd              LT Bk Fac          CARE BB+       254.7   Reaffirmed
(enhanced from Rs.9.81 crore)
Rajratan Global Wire Ltd              LT/ST Bk Fac       CARE BB+/CARE  532.5   Reaffirmed
                                                         A4+
(enhanced from Rs.50.25 crore)
Ramachandra Educational Trust         LT Bk Fac          CARE BBB-      1237.4  Revised from
                                                                                CARE BB+
(enhanced from 93.85 CR)
Real Strips Ltd                       LT Bk Fac          CARE BBB-      841.6   Reaffirmed
(reduced from Rs.90.65 crore)
Regent Granito (India) Ltd            LT Bk Fac          CARE BB        417.1   Reaffirmed
Shivalay Ispat & Power Pvt. Ltd       LT Bk Fac          CARE BBB(SO)   350     Reaffirmed
(reduced from 64.83 CR)
Silver Touch Technologies Ltd         LT Bk Fac          CARE BBB       135.6   Assigned
Silver Touch Technologies Ltd         LT/ST Bk Fac       CARE BBB /CARE 110     Assigned
                                                         A3+
SPRL Foods Ltd                        LT Bk Fac          CARE B+        211.7   Assigned
Swastik Trading Company               LT Bk Fac          CARE BB-       85      Assigned
Tata Housing Development Co. Ltd      NCD                -              -       Withdrawn
(reduced from 150CR)
Tata Housing Development Co. Ltd      FB/NFB Bk Fac      CARE AA /CARE  5250    Reaffirmed
                                      (LT/ST)            A1+
(enhancement from 200CR)
Vizag Rebars Pvt Ltd                  LT Bk Fac          CARE BB        50      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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