January 6, 2016 / 5:23 AM / 3 years ago

CARE ratings for Indian debt instruments-Jan 6

Jan 6 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 5, 2016.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agrow Allied Ventures Pvt Ltd         ST Bk Fac          CARE A4        30      Assigned
Ashish Vessel Demolition Pvt Ltd      ST Bk Fac          CARE A4        150     Reaffirmed
Coimbatore Capital Ltd                ST Bk Fac          CARE A3        370     Reaffirmed
Faraday Electricals Pvt Ltd           ST Bk Fac          CARE A4        30      Reaffirmed

Grauer & Weil (India) Ltd             ST Non-FB Bk Fac   CARE A1+       460     Revised from
                                                                                CARE A1
Grauer & Weil (India) Ltd             Proposed CP (CP)   CARE A1+       100     Revised from
                                      issue*                                    CARE A1
*carved out of the sanctioned working capital limits of the company.
Indus Projects Pvt Ltd                ST Bk Fac          CARE A4        240     Assigned
Isc Projects Pvt Ltd                  ST Bk Fac          CARE A3        390     Reaffirmed
(enhanced from 30CR )
Jindal (India) Ltd                    ST Bk Fac          CARE A3+       2000    Reaffirmed
Maithan Steel & Power Ltd             ST Bk Fac          CARE A3        20      Reaffirmed
Manaksia Aluminium Company Ltd        ST Non-FB Bk Fac   CARE A2+       1110    Revised from
                                                                                CARE A1
Manaksia Coated Metals & Industries   ST Non-FB Bk Fac   CARE A2+       850     Revised from
Ltd                                                                                CARE A1
Manidhari Gums And Chemicals          ST Bk Fac          CARE A4        475     Reaffirmed
Meghalaya Cements Ltd                 ST Bk Fac          CARE A1        60      Revised from
                                                                                CARE A2+
National Collateral Management ServiceST Bk Fac          CARE A1+       150     Reaffirmed
Ltd
Plastex Products Pvt Ltd              ST Bk Fac          CARE A4+       20      Assigned
Rsb Castings Ltd                      ST Bk Fac          ProCARE A3     50      Reaffirmed
Rsb Transmissions (I) Ltd             ST Bk Fac          CARE A3        1942.9  Reaffirmed
Ruchi Infrastructure Ltd              ST Bk Fac          CARE A2        1600    Reaffirmed
Salasar Yarns Pvt Ltd                 ST Bk Fac          CARE A4        5       Assigned
Shiv Edibles Ltd                      ST Bk Fac          CARE A3+       50      Reaffirmed
The St Bank Facilities Of Rakesh      ST Bk Fac          CARE A4        85      Assigned
Advertising Pvt Ltd
Virat Spinners Pvt Ltd                ST Bk Fac          CARE A4        20      Reaffirmed
Voltech Manufacturing Co. Ltd         ST Bk Fac          CARE A4        130     Assigned

LONG TERM RATINGS:
-------------------
Agrow Allied Ventures Pvt Ltd         LT Bk Fac          CARE BB        120     Assigned
Annapurna Earcanal Ltd                Bk Fac             -              -       Suspended
Anubha Industries Pvt Ltd             Bk Fac             -              -       Suspended
Asian Roller Bearings                 LT Bk Fac          CARE BBB+ (SO)*50      Reaffirmed
*backed by the unconditional and irrevocable corporate guarantee provided by ARB Bearings
Limited (rated CARE BBB+/ CARE A2 ).
Bilasraika Sponge Iron (India) Pvt    Bk Fac             -              -       Suspended
Limied
Birbal Dass Ritesh Kumar              LT Bk Fac          CARE B         260     Assigned
Dhanurdhar Processors Pvt Ltd         Bk Fac             -              -       Withdrawn
Dte Exports Pvt Ltd                   LT/ST Bk Fac       CARE BBB+/CARE 200     Reaffirmed
                                                         A2
Enestee Engineering Ltd               Bk Fac             -              -       Suspended
Faraday Electricals Pvt Ltd           LT Bk Fac          CARE BB+       30      Reaffirmed
Faraday Electricals Pvt Ltd           LT/ST Bk Fac       CARE BB+/CARE  60      Reaffirmed
                                                         A4
Grauer & Weil (India) Ltd             LT FB Bk Fac       CARE A+        650     Revised from
                                                                                CARE A
Greenesol Power Systems Pvt Ltd       LT Bk Fac          CARE BBB-      110     Revised from
                                                                                CARE BBB
Greenesol Power Systems Pvt Ltd       LT/ST Bk Fac       CARE BBB-/CARE 640     Revised from
                                                         A3                     CARE BBB/CARE
                                                                                A3
Gujarat Polyfilms Pvt Ltd             Bk Fac             -              -       Suspended
Heera Rice Mills                      LT Bk Facilitie    CARE B+        266     Assigned
Hindusthan National Glass & IndustriesBk Fac             -              -       Withdrawn
Ltd.
Indus Projects Pvt Ltd                LT Bk Fac          CARE BB        35      Assigned
Insha Cottex Pvt Ltd                  Bk Fac             -              -       Suspended
Isc Projects Pvt Ltd                  LT Bk Fac          CARE BBB       60      Reaffirmed
(enhanced from 5CR )
Jhandewalas Foods Pvt. Ltd            Bk Fac             -              -       Suspended
Jindal (India) Ltd                    LT Bk Fac          CARE BBB       4350    Reaffirmed
Karnataka State Financial Corporation Unsecured Bonds I@ CARE AA-(SO)   1230    Reaffirmed
@backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka State Financial Corporation Unsecured Bonds II@CARE AA-(SO)   1000    Reaffirmed
@backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka State Financial Corporation Unsecured Bonds    CARE AA-(SO)   2000    Reaffirmed
                                      III@
@backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka State Financial Corporation Unsecured Bonds IV@CARE AA-(SO)   2000    Reaffirmed
@backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka State Financial Corporation Unsecured Bonds V@ CARE AA-(SO)   2500    Reaffirmed
@backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka State Financial Corporation Unsecured Bonds VI@CARE AA-(SO)   2350    Reaffirmed
@backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Kottex Industries Pvt Ltd             Bk Fac             -              -       Suspended
Magma Fincorp Ltd                     Series A1 PTCs     -              -       Withdrawn
Magma Fincorp Ltd                     Series A2 PTCs     -              -       Withdrawn
Magma Fincorp Ltd                     Second Loss        -              -       Withdrawn
                                      Facility
Mahindra And Mahindra Financial       Proposed NCD       CARE AAA       4000    Assigned
Services Ltd.
Mahindra And Mahindra Financial       Proposed           CARE AAA       5000    Assigned
Services Ltd.                         Subordinated debt
                                      (public issue)
Mahindra And Mahindra Financial       Proposed           CARE AAA       1000    Assigned
Services Ltd.                         Subordinated debt
Mahindra And Mahindra Financial       NCD                CARE AAA       23000   Assigned
Services Ltd.
Mahindra And Mahindra Financial       Subordinated debt  CARE AAA       5000    Assigned
Services Ltd.
Maithan Steel & Power Ltd             LT Bk Fac          CARE BBB-      424     Reaffirmed
Manaksia Aluminium Company Ltd        CP issue -         -              -       Withdrawn
                                      Standalone
Manaksia Aluminium Company Ltd        LT FB Bk Fac       CARE A-        630     Revised from
                                                                                CARE A
Manaksia Coated Metals & Industries   CP issue -         -              -       Withdrawn
Ltd                                   Standalone
Manaksia Coated Metals & Industries   LT FB Bk Fac       CARE A-        725     Revised from
Ltd                                                                             CARE A
Manidhari Gums And Chemicals          LT Bk Fac          CARE BBB       813     Reaffirmed
Markx Infra Homes Pvt Ltd             Bk Fac             -              -       Suspended
Meghalaya Cements Ltd                 LT Bk Fac          CARE A         800     Revised from
                                                                                CARE A-
Mittal Appliances Ltd                 LT Bk Fac          CARE BBB+      405     Reaffirmed
Mittal Appliances Ltd                 LT/ST Bk Fac       CARE BBB+/CARE 2150    Reaffirmed
                                                         A3+
National Collateral Management ServiceLT Bk Fac          CARE A+        4125.7  Reaffirmed
Ltd
Nezone Tubes Ltd.                     LT Bk Fac          CARE BBB+      300     Reaffirmed
Parvati Agro Plast                    Bk Fac             -              -       Withdrawn
Plastene India Ltd                    Bk Fac             -              -       Suspended
Plastex Products Pvt Ltd              LT Bk Fac          CARE BB+       123.5   Assigned
Plastex Products Pvt Ltd              LT /ST Bk Fac      CARE BB+/CARE  5       Assigned
                                                         A4+
R V Realty                            LT Bk Fac          CARE BB+       95      Assigned
Rabin Singha Heavy Earth Movers Co.   Bk Fac             -              -       Suspended
Pvt. Ltd
Rex Polyextrusion Ltd                 Bk Fac             -              -       Suspended
Rsb Castings Ltd                      LT Bk Fac          CARE BBB- (SO) 289.6   Reaffirmed
Rsb Castings Ltd                      LT Bk Fac          CARE BBB- (SO) 205     Assigned
Rsb Transmissions (I) Ltd             LT Bk Fac          CARE BBB-      3101.9  Reaffirmed
Ruchi Infrastructure Ltd              LT Bk Fac          CARE BBB+      157.4   Reaffirmed
Ruchi Soya Industries Ltd             LT Bk Fac          CARE BBB+      37947.1 Reaffirmed
Ruchi Soya Industries Ltd             LT / ST Bk Fac     CARE BBB+/CARE 69314   Reaffirmed
                                                         A2
Ruchi Worldwide Ltd                   LT / ST Bk Fac     ARE BBB        12000   Reaffirmed
                                                         (SO)/CARE A3+
                                                         (SO)
Saisudhir Energy Ltd                  LT Bk Fac          CARE D         1468.7  Revised from
                                                                                CARE B+
Salasar Yarns Pvt Ltd                 LT Bk Fac          CARE BB-       132.5   Assigned
Shiv Edibles Ltd                      LT Bk Fac          CARE BBB       400     Reaffirmed
Shreegluco Biotech Pvt Ltd            LT Bk Fac          CARE B+        1180    Assigned
Siwal Infracon Pvt Ltd                LT Bk Fac          CARE B+        62.8    Assigned
Siwal Infracon Pvt Ltd                LT /ST Bk Fac      CARE B+/CARE A440      Assigned
Sks Microfinance Ltd                  Series A PTCs      -              -       Withdrawn
Sohan Coppertech Pvt Ltd              LT Bk Fac          CARE BB        85      Assigned
Sri Shyam Jewellers                   LT Bk Fac          CARE B+        70      Assigned
The St Bank Facilities Of Rakesh      LT Bk Fac          CARE BB-       40      Reaffirmed
Advertising Pvt Ltd
Virat Spinners Pvt Ltd                LT Bk Fac          CARE BB        208.9   Revised from
                                                                                CARE B+
Voltech Manufacturing Co. Ltd         LT Bk Fac          CARE BB-       119.9   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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below