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CARE ratings for Indian debt instruments-Oct 5
October 5, 2016 / 4:16 AM / a year ago

CARE ratings for Indian debt instruments-Oct 5

Oct 5 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 4, 2016.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
-------                               ----------         ------        -------  ---------
Ajai Builders                         ST Bk Fac          CARE A4        65      Reaffirmed
(Enhanced from 3.50 crore)
Cheran Spinner Pvt Ltd                ST Bk Fac          CARE A3        92.4    Reaffirmed
(reduced from 16.00 CR)

Hindustan Aegis Lpg Ltd, And Aegis    ST Bk Fac          CARE A1+       4119.8  Reaffirmed
Gas (Lpg) Pvt Ltd
Kuloday Plastomers Pvt Ltd            ST Bk Fac          CARE A4        73      Reaffirmed
(Reduced from 9.15 CR)
Panama Petrochemical Ltd              ST Bk Fac          CARE A1        3540    Reaffirmed
Shankha Deep Exports Pvt Ltd          ST Bk Fac          CARE A4+       150     Reaffirmed
Sujala Pipes Pvt Ltd                  ST Bk Fac          CARE A4        150.7   Reaffirmed

Ajai Builders                         LT Bk Fac          CARE B+        34.1    Reaffirmed
(Enhanced from 2.93 crore)
Ajai Builders                         LT/ST Bk Fac       CARE B+ /CARE  12.7    Reaffirmed
Cheran Spinner Pvt Ltd                LT Bk Fac          CARE BBB-      418.1   Reaffirmed
(enhanced from 26.66 CR)
Hindustan Aegis Lpg Ltd, And Aegis    LT Bk Fac          CARE AA        322.9   Revised from
Gas (Lpg) Pvt Ltd                                                               CARE AA-
[reduced from Rs. 45.76 crore]
Hindustan Aegis Lpg Ltd, And Aegis    NCD                CARE AA        250     Revised from
Gas (Lpg) Pvt Ltd                                                               CARE AA-
Kuloday Plastomers Pvt Ltd            LT Bk Fac          CARE BB        164     Revised from
                                                                                CARE BB-
(enhanced from 10.85 CR)
Malabar Institute Of Medical Sciences LT Bk Fac          CARE A-        2875.9  Reaffirmed
(enhanced from 39.32 CR)
Ornate Buildcon Developers            LT Bk Fac          CARE B         75      Assigned
Panama Petrochemical Ltd              LT Bk Fac          CARE A         200     Reaffirmed
Patna Highway Projects Ltd            LT Bk Fac          CARE D         8460    Revised from
                                                                                CARE B
Pravara Renewable Energy Ltd          LT Bk Fac          CARE D         1860.8  Revised from
                                                                                CARE B
Raviraj Ginning Pressing & Oil        LT Bk Fac          CARE B+        150     Assigned
Sadashiv Castings Pvt. Ltd.           LT Bk Fac          CARE BB-       220     Assigned
Sagar Samrat Sea Foods                Bk Fac             -              -       Suspended
Salet Seafoods Pvt Ltd                Bk Fac             -              -       Suspended
San & Co.                             LT Bk Fac          CARE BB-       75      Reaffirmed
Shree Tirupati Balajee Agro Trading   Bk Fac             -              -       Suspended
Co Pvt. Ltd
Shree Tirupati Balajee Fibc Pvt. Ltd. Bk Fac             -              -       Suspended
State Bank Of India                   Additional Tier I  CARE AA+       58000   Assigned
                                      Bonds (Basel III)#
State Bank Of Mysore                  Upper Tier II BondsCARE AAA       6400    Reaffirmed
State Bank Of Mysore                  Perpetual Bonds    CARE AAA       2600    Reaffirmed
State Bank Of Mysore                  Basel III Tier II  CARE AAA       5000    Reaffirmed
Sujala Pipes Pvt Ltd                  LT Bk Fac          CARE B+        318     Revised from
                                                                                CARE C
Vijay Steel Industries                Bk Fac             -              -       Suspended
$: 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

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