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CARE ratings for Indian debt instruments-Mar 6
March 6, 2017 / 5:31 AM / 9 months ago

CARE ratings for Indian debt instruments-Mar 6

    Mar 6 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 3, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aaren Exports                         ST Bk Fac          CARE A4        154     Reaffirmed
Aishwarya Technologies & Telecom Ltd  ST Bk Fac          CARE A4        45      Issuer Not
                                                                                Cooperating
Bhatia Colour Company                 ST Bk Fac          CARE A4        150     Reaffirmed
Bmw Industries Ltd                    ST Bk Fac          CARE A2        632     Issuer Not
                                                                                Cooperating
Cargo Motors Pvt Ltd                  ST Bk Fac          CARE A3        775     Reaffirmed
Deccan Auto Ltd                       ST Bk Fac          CARE A4+       80      Reaffirmed
Dekson Castings Ltd                   ST Bk Fac          -              -       Withdrawn
Eternal Motors Pvt Ltd                ST Bk Facilitie    CARE A4+       15      Reaffirmed
Floressence Perfumes Pvt Ltd          ST Bk Fac (Non-FB) CARE A4        5       Assigned
Hindusthan Ispat Pvt Ltd              ST Bk Fac          CARE A4        150     Reaffirmed
Hmt Machine Tools Ltd                 ST Bk Fac          CARE A4        779     Reaffirmed
Jai Mata Dee Construction             ST Bk Fac          CARE A4        120     Reaffirmed
Jsw Power Trading Company             ST Bk Fac                         2250    Reaffirmed
                                      (Non-Fund Based)
Kamakhya Shivalik Enterprises Pvt Ltd ST Bk Fac          CARE A4        12.5    Rating placed
                                                                                on Notice of
                                                                                withdrawal for
                                                                                90 Days   
Laurus Labs Ltd                       ST Bk Fac          CARE A1+       3382    Revised from
                                                                                CARE A1
Laurus Labs Ltd                       ST Commerical      CARE A1+       1000    Revised from
                                      paper (Proposed)@                         CARE A1
Lotus Texpark Ltd                     ST Bk Fac@         CARE A1        90      Reaffirmed
@ the rating are based on credit enhancement in form of unconditional and irrevocable corporate
guarantee from Trident Limited (rated CARE A+(SO); Stable / CARE A1.
M.S.Ramaiah Developers And Builders PvST Bk Fac          CARE A3+       180     Reaffirmed
Ltd
Mfar Realtors Pvt Ltd                 ST Bk Fac          CARE A4        100     Issuer Not
                                                                                Cooperating
Mini Diamonds (India) Ltd             ST Bk Facilitie    CARE A4        60      Assigned
Rmg Alloy Steel Ltd                   ST Bk Fac          CARE D         1559.8  Reaffirmed
Rays Power Infra Pvt Ltd              ST Bk Fac          CARE A3        500     Reaffirmed
Simplex Engineering & Foundry Works PvST Bk Fac          CARE A3        750     Reaffirmed
Ltd
Singh Construction Pvt Ltd            ST Bk Fac          CARE A4        100     Assigned
Skill-Tech Engineers & Contractors PvtST Bk Fac          CARE A4        200     Reaffirmed
Ltd
Skp Buildcon Pvt Ltd                  ST Bk Facilitie    CARE A4        85      Assigned
Somi Conveyor Beltings Ltd            ST Bk Fac          CARE A3+       200     Reaffirmed
Soni Soya Products Pvt Ltd            ST Bk Facilitie    CARE A4        25      Assigned
Suryajyoti Spinning Mills Ltd         ST Bk Fac          CARE D         523.2   Reaffirmed
Star Ship Breaking Corporation        ST Bk Fac          CARE A4        300     Reaffirmed
Trident Ltd                           ST Bk Fac          CARE A1        3500    Reaffirmed
Trivista Steel And Power Pvt Ltd      ST Bk Fac          CARE A4        65      Issuer Not
                                                                                Cooperating
Umedica Laboratories Pvt Ltd          ST Bk Fac          CARE A3        75      Reaffirmed
Venkraft Paper Mills Pvt Ltd          ST Bk Fac          CARE A3        7.5     Reaffirmed
Vikram Solar Pvt Ltd                  ST Bk Fac          CARE A2+       1000    Reaffirmed



MEDIUM TERM RATINGS:
-------------------
Fraternal Credit And Financial ServiceFixed Deposit      -              -       Withdrawn
Ltd                                   Programme



LONG TERM RATINGS:
-------------------
Aaren Exports                         LT Bk Fac (TL)     CARE B+        8       Withdrawn
Aaren Exports                         LT Bk Fac (CC      CARE B+        40      Reaffirmed
                                      Limit)
Agrawal Cotex                         LT Bk Fac          CARE BB-       65      Assigned
Aishwarya Technologies & Telecom Ltd  LT Bk Fac          CARE B-        71.1    Issuer Not
                                                                                Cooperating
Aishwarya Technologies & Telecom Ltd  LT/ST Bk Facilitie CARE B-/A4     60      Issuer Not
                                                                                Cooperating
Amber Spintex Pvt Ltd                 LT Bk Fac          CARE BB-       575.6   Reaffirmed
Anrak Aluminium Ltd                   LT Bk Fac          CARE D         29950   Issuer Not
                                                                                Cooperating
Ayushajay Construction Pvt Ltd        LT Bk Fac          CARE BBB+      50      Reaffirmed
Ayushajay Construction Pvt Ltd        LT / ST Bk Fac     CARE BBB+ / A2 1000    Reaffirmed
Bhatia Colour Company                 LT Bk Fac          CARE BB-       110     Reaffirmed
Bmw Industries Ltd                    LT Bk Fac          CARE BBB+      4868    Issuer Not
                                                                                Cooperating
Bmw Iron & Steel Industries Ltd       LT Bk Fac          CARE D         465     Issuer Not
                                                                                Cooperating
Cargo Motors Pvt Ltd                  LT Bk Fac          CARE BBB-      10      Reaffirmed
Creativeline Cotspin Pvt Ltd          LT Bk Fac@         CARE A+        6.6     Revised from
                                                                                CARE A
@ the rating are based on credit enhancement in form of unconditional and irrevocable corporate
guarantee from Trident Limited (rated CARE A+(SO); Stable
Deccan Auto Ltd                       LT Bk Fac          CARE BB+       522.5   Reaffirmed
Dekson Castings Ltd                   LT Bk Fac          CARE BB-       126.2   Revised from
                                                                                CARE B+
Eternal Motors Pvt Ltd                LT Bk Fac          CARE BB        43.7    Reaffirmed
Eternal Motors Pvt Ltd                Long/ST Bk Fac     CARE BB / A4+  177.5   Reaffirmed
Floressence Perfumes Pvt Ltd          LT Bk Fac (FB)     CARE B+        190     Assigned
Fusion Microfinance Pvt Ltd           LT Bk Fac          CARE BBB+      3000    Reaffirmed
Fusion Microfinance Pvt Ltd           NCDs               CARE BBB+      100     Reaffirmed
Ghevariya Exports                     Long/ST Bk Fac     CARE BBB-      80      Reaffirmed
                                                         /CARE
Gie Jewels                            LT Bk Fac          CARE BBB-      0.7     Reaffirmed
Gie Jewels                            LT/ST Bk Facilitie CARE BBB-/A3   100     Reaffirmed
Hindusthan Ispat Pvt Ltd              LT Bk Fac          CARE BB        200     Reaffirmed
Hmt Machine Tools Ltd                 LT Bk Fac          CARE C         448.2   Revised from
                                                                                CARE D
Icici Prudential Capital Protection   Close-Ended        CARE AAAmf     -       Assigned
Oriented Fund Series Xii Plan A-C     Capital Protection
                                      Oriented Fund
Iv County Pvt Ltd                     LT Bk Fac          CARE BB+       1960    Assigned
Jai Mata Dee Construction             LT Bk Fac          CARE BB-       20      Reaffirmed
Jsw Power Trading Company             LT Bk Fac          -              -       Withdrawn*
*the facilities have been repaid
Kamakhya Shivalik Enterprises Pvt Ltd LT Bk Fac          CARE B+        60      Rating placed
                                                                                on Notice of
                                                                                withdrawal for
90 day
L.S. Rice Exports Pvt Ltd             LT Bk Fac          CARE B+        48.3    Reaffirmed
Laurus Labs Ltd                       LT Bk Fac          CARE A+        7540    Reaffirmed
Lotus Texpark Ltd                     LT Bk Fac@         CARE A+        1032.8  Revised from
                                                                                CARE A
@ the rating are based on credit enhancement in form of unconditional and irrevocable corporate
guarantee from Trident Limited (rated CARE A+(SO); Stable
M.S.Ramaiah Developers And Builders PvLT Bk Fac          CARE BBB+      1200    Reaffirmed
Ltd
Mfar Realtors Pvt Ltd                 LT Bk Facilites    CARE B         220     Issuer Not
                                                                                Cooperating
Mini Diamonds (India) Ltd             LT Bk Fac          CARE BB-       90      Assigned
Pt Barasentosa Lestari                LT Bk Fac (TL)     CARE BBB-(SO)* 2440    Reaffirmed
* backed by unconditional and irrevocable corporate guarantee provided by GMR Infrastructure
Ltd. (GIL) rated CARE BBB- ; Stable/CARE A3
Pushpawati Singhania Research InstitutLT Bk Fac          CARE BBB       500     Reaffirmed
Ramdev Cold Storage                   LT Bk Fac          CARE B         60      Assigned
Ratna Cot Fibers                      LT Bk Fac          CARE BB-       62.7    Assigned
Raxa Security Services Ltd            LT Bk Fac          CARE BBB- (SO)*1000    Revised from
                                                                                CARE BB
* backed by unconditional and irrevocable corporate guarantee provided by GMR Infrastructure
Ltd. (GIL) rated CARE BBB- ; Stable/CARE A3
Raxa Security Services Ltd            LT/ST Bk Fac       CARE BBB-      50      Revised from
                                                         (SO)* /CARE A3         CARE BB /
                                                         (SO)                   CARE A4
* backed by unconditional and irrevocable corporate guarantee provided by GMR Infrastructure
Ltd. (GIL) rated CARE BBB- ; Stable/CARE A3
Rays Power Infra Pvt Ltd              LT Bk Fac          CARE BBB       500     Reaffirmed
Rays Power Infra Pvt Ltd              LT/ST Bk Fac       CARE BBB/ A3   1000    Reaffirmed
Rithwik Projects Pvt Ltd              LT Bk Fac          CARE BB        15375.9 Reaffirmed
Rmg Alloy Steel Ltd                   LT Bk Fac          CARE D         2574    Reaffirmed
S.D. Bansal Iron & Steel Pvt Ltd      LT Bk Fac          CARE BB        120     Assigned
Sanjeev Auto Parts Manufacturers Pvt  LT Bk Fac          CARE A         570.3   Reaffirmed
Ltd
Shree Rajeshwar Weaving Mills Pvt Ltd LT/ST Bk Fac       CARE D/CARE D  150     Issuer Not
                                                                                Cooperating
Siddhivinyak Motors Pvt Ltd           LT Bk Fac          CARE BB+       210.5   Reaffirmed
Sim Diam Pvt Ltd                      LT Bk Fac (FB)     CARE BB+       1600    Reaffirmed
Simplex Engineering & Foundry Works PvLT Bk Fac          CARE BBB-      400     Reaffirmed
Ltd
Singh Construction Pvt Ltd            LT Bk Fac          CARE B+        30      Assigned
Skill-Tech Engineers & Contractors PvtLT Bk Fac          CARE BB        100     Reaffirmed
Ltd
Skp Buildcon Pvt Ltd                  LT Bk Fac          CARE BB-       15      Assigned
Somi Conveyor Beltings Ltd            LT/ST Bk Fac       CARE BBB/A3+   180     Reaffirmed
Soni Soya Products Pvt Ltd            LT Bk Fac          CARE B+        23.4    Assigned
Sovereign Pharma Pvt Ltd              LT Bk Fac          CARE A         220.3   Revised from
                                                                                CARE A-
Sovereign Pharma Pvt Ltd              LT/ ST Bk Fac      CARE A/A2+     57.5    Revised from
                                                                                CARE A- / A2
Sri Ananda Subbaraya Wire Products PvtLT Bk Fac          CARE BB-       120     Assigned
Ltd
Star Ship Breaking Corporation        LT Bk Fac          CARE B         50      Reaffirmed
Suryajyoti Spinning Mills Ltd         LT Bk Fac          CARE D         2567    Reaffirmed
Titan Tex Fab Pvt Ltd                 LT/ ST Bk Fac      CARE BB-       149.2   Reaffirmed
Trident Ltd                           LT Bk Fac          CARE A+        23348.5 Revised from
                                                                                CARE A
Trident Ltd                           LT Bk Fac          CARE A+ /A1    12000   Revised from
                                                                                CARE A / A1
Trivista Steel And Power Pvt Ltd      LT Bk Fac          CARE BB-       110     Issuer Not
                                                                                Cooperating
Uday Autolink Pvt Ltd                 LT Bk Fac          CARE D         345.9   Assigned
Ultratech Cement Ltd                  NCD                -              -       Withdrawn
Umedica Laboratories Pvt Ltd          LT Bk Fac          CARE BBB-      2.8     Reaffirmed
Umedica Laboratories Pvt Ltd          Long/ST Bk Fac     CARE BBB-/A3   195     Reaffirmed
Venkraft Paper Mills Pvt Ltd          LT Bk Fac          CARE BBB-      458.4   Reaffirmed
Vikram Solar Pvt Ltd                  LT Bk Fac          CARE A-        1102    Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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