March 7, 2017 / 6:00 AM / 9 months ago

CARE ratings for Indian debt instruments-Mar 7

    Mar 7 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 6, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Associated Alcohols And Breweries Ltd ST Bk Fac          CARE A2        260     Reaffirmed
(enhanced from Rs.4.00 crore)
Bansal Associates                     ST Bk Fac          CARE A4        60      Reaffirmed
(Reduced from 8 CR)

Bcs India Pvt Ltd                     ST Bk Fac          CARE A3+       10      Assigned
Bholanath Zaveri Jewellers Pvt Ltd    ST Bk Fac          CARE A4        32.5    Assigned
Big Bags Bangalore Pvt Ltd            ST Bk Fac          CARE A4+       175     Reaffirmed
(enhanced from 6.50 crore)
Cb Doctor Ventilators Pvt Ltd         ST Bk Fac          CARE A4        75      Assigned
Christy Fabric Pvt Ltd                ST Bk Fac          CARE A4        2       Assigned
Christy Linens Pvt Ltd                ST Bk Fac          CARE A4        1.5     Assigned
Christy Textile Products Pvt Ltd      ST Bk Fac          CARE A4        5       Assigned
Coromandel Electric Co. Ltd           ST Bk Fac          CARE A3+       150     Reaffirmed
Dayakara Solar Power Pvt Ltd          ST Bk Fac          CARE A2        150.6   Assigned
Desh Bhagat Memorial Educational TrustST Bk Fac          CARE A3        75      Reaffirmed
(Enhanced from Rs.6.00 crore)
Dozco (India) Pvt Ltd                 ST Bk Fac          CARE A3        775     Issuer Not
                                                                                Cooperating
Encore Projects Pvt. Ltd.             ST Bk Fac          CARE A4        10      Reaffirmed
Evergreen Fabric Process Pvt Ltd      ST Bk Fac          CARE A4        2       Assigned
Gandhi Road Builders                  ST Bk Fac          CARE A4        75      Reaffirmed
Good Day Foods Pvt Ltd                ST Bk Fac          CARE A4        0.3     Revised from
                                                                                CARE A4+
Ksk Energy Ventures Ltd               ST Bk Fac          CARE D         2300    Revised from
                                                                                CARE A3
L&T Housing Finance Ltd.              CP                 CARE A1+       35000   Reaffirmed
(Enhanced from Rs.2,500 crore)
Lata Exports Apparels Pvt Ltd         ST Bk Fac          CARE A4        67.5    Reaffirmed
Mahavir Construction Company          ST Bk Fac          CARE A4        80      Issuer Not
                                                                                Cooperating
Mangalam Cement Ltd                   CP (CP) issue      CARE A1+       500     Assigned
Maral Overseas Ltd                    ST Bk Fac          CARE A3+       1576.6  Reaffirmed
(enhanced from 147.66 CR)
Mihit Solar Power Pvt Ltd             ST Bk Fac          CARE A2        296.3   Assigned
Nandi Pipes Pvt Ltd                   ST Bk Fac          CARE D         10      Revised from
                                                                                CARE A4
Ntpc Ltd                              CP Issue           CARE A1+       40000   Reaffirmed
(enhanced from 2,000 CR)
Padma Laxmi Sree Rice Mill Pvt. Ltd   ST Bk Fac          CARE A4        3       Reaffirmed
(reduced from 0.50 CR)
Pooja International                   ST Bk Fac          CARE A4        140     Reaffirmed
Premier Enterprises                   ST Bk Fac          CARE A4        80      Issuer Not
                                                                                Cooperating
R. B. Cars Pvt Ltd                    ST Bk Fac          CARE A4        45      Issuer Not
                                                                                Cooperating
Rama Handicrafts                      ST Bk Fac          CARE A4        85      Reaffirmed
Sebacic India Ltd                     ST Bk Fac          CARE D         4.6     Reaffirmed
S V Ispat Pvt Ltd                     ST Bk Fac          CARE A4        40      Issuer Not
                                                                                Cooperating
Sanganeriya Spinning Mills Ltd        ST Bk Fac          CARE A4        15      Reaffirmed
Shamanur Sugars Ltd                   ST Bk Fac          CARE A4        650     Reaffirmed
(enhanced from 40.00 CR)
Snj Synthetics Ltd                    ST Bk Fac          CARE A4        73      Issuer Not
                                                                                Cooperating
Sri Anjaneya Cotton Mills Ltd         ST Bk Fac          CARE A4        70      Reaffirmed
(reduced from 10.00 crore)
Suncity Sheets Pvt Ltd                ST Bk Fac          CARE A3+       200     Revised from
                                                                                CARE A3
(enhanced from Rs.12.15 crore)
Surya Textech                         ST Bk Fac          CARE A4        4       Assigned
The Ruby Mills Ltd                    ST Bk Fac          CARE A4        128     Reaffirmed
Turning Point                         ST Bk Fac          CARE A4        40      Reaffirmed
(enhanced from 3.00 crore)
Usha Yarns Ltd                        ST Bk Fac          CARE A3        5       Assigned
Vasavi Power Services Pvt Ltd         ST Bk Fac          CARE D         500     Issuer Not
                                                                                Cooperating
Worldwide Metals Pvt Ltd              ST Bk Fac          CARE A4        40      Reaffirmed

LONG TERM RATINGS:
-------------------
Abro Chimique Pvt. Ltd.               LT Bk Fac          CARE B+        108.8   Reaffirmed
(Reduced from 11.50 CR)
Admiron Life Sciences Pvt Ltd         LT Bk Fac          CARE D         592.5   Issuer Not
                                                                                Cooperating
Amrut Export                          LT/ST Bk Fac       CARE BB+ /CARE 1500    Issuer Not
                                                         A4+                    Cooperating
Asian Aerosol Oan Pvt Ltd             LT Bk Fac          CARE B         83      Revised from
                                                                                CARE B+
Associated Alcohols And Breweries Ltd Commerical Paper   -              -       Withdrawn
                                      (CP) issue*
*carved out of the sanctioned working capital limits of the company
Associated Alcohols And Breweries Ltd LT Bk Fac          CARE BBB+      324.2   Reaffirmed
(reduced from Rs.40.80 crore)
Ats Heights Pvt Ltd                   LT Instrument- NCD CARE BB        800     Assigned
                                      (NCDs)
Baba Bhuman Shah Ji Industries        LT Bk Fac          CARE B         108     Assigned
Bansal Associates                     LT Bk Fac          CARE BB-       40      Reaffirmed
(Enhanced from 2 CR)
Bcs India Pvt Ltd                     LT Bk Fac          CARE BBB       90      Reaffirmed
(Enhanced from 8 CR)
Bholanath Zaveri Jewellers Pvt Ltd    LT Bk Fac          CARE B+        67.5    Assigned
Big Bags Bangalore Pvt Ltd            LT Bk Fac          CARE BB+       68.5    Reaffirmed
(reduced from 9.99 crore)
Cb Doctor Ventilators Pvt Ltd         LT Bk Fac          CARE B         12.5    Assigned
Cb Doctor Ventilators Pvt Ltd         LT/ST Bk Fac       CARE B /CARE A430      Assigned
Christy Fabric Pvt Ltd                LT Bk Fac          CARE BB        35.2    Assigned
Christy Linens Pvt Ltd                LT Bk Fac          CARE BB        10      Assigned
Christy Textile Products Pvt Ltd      LT Bk Fac          CARE BB        40      Assigned
Classic Products Pvt Ltd              LT Bk Fac          CARE BB        135     Reaffirmed
(Enhanced from 9.00 CR)
Classic Products Pvt Ltd              LT/ST Bk Fac       CARE BB /CARE  50      Reaffirmed
                                                         A4
Coromandel Electric Co. Ltd           LT Bk Fac          CARE BBB+      100     Reaffirmed
Dayakara Solar Power Pvt Ltd          LT Bk Fac#         CARE BBB+(SO)  2220    Assigned
# backed by unconditional & irrevocable co-obligor undertakings provided by Mihit Solar Power
Private Limited and Grahati Solar Energy Private Limited.
Deccan Hyderabad Trade Impex Pvt Ltd  LT Bk Fac          CARE D         100     Issuer Not
                                                                                Cooperating
Desh Bhagat Memorial Educational TrustLT Bk Fac          CARE BBB-      25      Reaffirmed
(Reduced from Rs.9.06 crore)
Devarahipparigi Wind Power Pvt Ltd    LT Bk Fac^         CARE A+(SO)    63.6    Assigned
Dignus Infra Pvt Ltd                  LT Bk Fac          CARE B+        23.5    Assigned
Dignus Infra Pvt Ltd                  LT/ST Bk Fac       CARE B+ /CARE  30      Assigned
                                                         A4
Dozco (India) Pvt Ltd                 LT Bk Fac          CARE BBB-      567.8   Issuer Not
                                                                                Cooperating
Earthcon Constructions Pvt Ltd        LT Bk Fac          CARE B+        700     Reaffirmed
(Enhanced from 60.00 CR)
Encore Projects Pvt. Ltd.             LT Bk Fac          CARE BB-       63.4    Reaffirmed
(Reduced from 7.56 CR)
Encore Projects Pvt. Ltd.             LT/ST Bk Fac       CARE BB-       13.5    Reaffirmed
Evergreen Fabric Process Pvt Ltd      LT Bk Fac          CARE BB        33.3    Assigned
Gandhi Road Builders                  LT Bk Fac          CARE BB-       25      Reaffirmed
Good Day Foods Pvt Ltd                LT Bk Fac          CARE BB        132.6   Revised from
                                                                                CARE BB+
Gujarat Steel & Pipes                 LT Bk Fac          CARE B+ /CARE  240     Reaffirmed
                                                         A4
Kanchanjunga Power Company Pvt Ltd    LT Bk Fac          CARE BBB-      1477    Reaffirmed
(reduced from 156.60 CR)
Kanchanjunga Power Company Pvt Ltd    LT/ST Bk Fac       CARE BBB-      94.5    Reaffirmed
                                                         /CARE A3
Khandelwal Jewellers (Akola) Pvt Ltd  LT Bk Fac          CARE BB-       21.8    Issuer Not
                                                                                Cooperating
Khandelwal Jewellers (Akola) Pvt Ltd  LT/ST Bk Fac       CARE BB- /CARE 215     Issuer Not
                                                         A4                     Cooperating
Ksk Energy Ltd                        LT Bk Fac          CARE D         1950    Revised from
                                                                                CARE BB
Ksk Energy Ventures Ltd               LT Bk Fac          CARE D         1000    Revised from
                                                                                CARE BBB-
Ksk Energy Ventures Ltd               LT/ST Bk Fac CARE D         5000    Revised from
                                                                                CARE BBB- /
                                                                                CARE A3
Kuber Securities                      LT Bk Fac          CARE B+        27.5    Upgraded from
                                                                                CARE B
(reduced from 3.76 CR)
Lata Exports Apparels Pvt Ltd         LT Bk Fac          CARE B         375     Revised from
                                                                                CARE B+
Leon Realtors Pvt Ltd                 LT Instruments-    CARE B+        550     Assigned
                                      NCD (NCDs)
Leon Realtors Pvt Ltd                 LT Bk Fac (TL –    CARE BBB (SO)  1340    Reaffirmed
                                      Lease Rental
                                      Discounting)*
* The rating is based on the credit enhancement in the form of structured payment mechanism
which entails operating escrow account and maintenance of Debt Service Reserve Account in the
form of Bank Guarantee (Covering two month’s principal and interest obligation).
Mahavir Construction Company          LT Bk Fac          CARE BB-       9       Issuer Not
                                                                                Cooperating
Maral Overseas Ltd                    LT Bk Fac          CARE BBB       1463.3  Reaffirmed
(reduced from 146.85 CR)
Mihit Solar Power Pvt Ltd             LT Bk Fac#         CARE BBB+(SO)  4050    Assigned
# backed by unconditional & irrevocable co-obligor undertakings provided by Grahati Solar Energy
Private Limited and Dayakara Solar Power Private Limited.
Mohini Fibers Ltd                     LT Bk Fac          CARE BB+       200     Assigned
Mohini Fibers Ltd                     LT/ST Bk Fac       CARE BB+ /CARE 250     Reaffirmed
                                                         A4+
(enhanced from 21.25 CR)
Monalisa Ceramics India Pvt Ltd       LT Bk Fac          CARE BB-       150     Issuer Not
                                                                                Cooperating
Mount Everest Breweries Ltd           LT Bk Fac          CARE BBB+(SO)  240.9   Reaffirmed
(reduced from Rs.28.17 crore)
Mount Everest Breweries Ltd           LT Bk Fac          CARE BBB+(SO)  170     Assigned
Mount Everest Breweries Ltd           LT/ST Bk Fac       CARE BBB+(SO)  20      Reaffirmed
                                                         /CARE A2(SO)
Nandi Pipes Pvt Ltd                   LT Bk Fac          CARE D         84      Revised from
                                                                                CARE B+
North Eastern Electric Power          NCD                CARE AA        40000   Reaffirmed
Corporation Ltd.
North Eastern Electric Power          Proposed NCD issue CARE AA        3000    Assigned
Corporation Ltd.
Olive Tree Retail Pvt Ltd             LT Bk Fac          CARE BB-       100     Issuer Not
                                                                                Cooperating
Padma Laxmi Sree Rice Mill Pvt. Ltd   LT Bk Fac          CARE B+        123.5   Reaffirmed
(reduced from 14.00 CR)
Paramount Textile Mills Pvt Ltd       LT Bk Fac (TL)     -              -       Withdrawn
Paramount Textile Mills Pvt Ltd       LT Bk Fac          CARE BB+       230     Reaffirmed
(enhanced from 12.49 CR)
Pooja International                   LT Bk Fac          CARE BB-       9.2     Reaffirmed
Premier Enterprises                   LT Bk Fac          CARE BB        50      Issuer Not
                                                                                Cooperating
Premier Enterprises                   LT/ST Bk Fac       CARE BB /CARE  30      Issuer Not
                                                         A4                     Cooperating
R. B. Cars Pvt Ltd                    LT Bk Fac          CARE BB        225     Issuer Not
                                                                                Cooperating
Radha Ballabh Health Care & Research  LT Bk Fac          CARE B+        200     Assigned
Institute Pvt Ltd
Rajsamadhiyala Spintex Pvt. Ltd.      LT Bk Fac          CARE BB        665.9   Reaffirmed
Rajsamadhiyala Spintex Pvt. Ltd.      LT/ST Bk Fac       CARE BB /CARE  35      Reaffirmed
                                                         A4+
(enhanced from 3.00 CR)
Rajshila Synthetics Pvt Ltd           LT Bk Fac          CARE BB+       35      Revised from
                                                                                CARE BB
(enhanced from 2.00 CR)
Rajshila Synthetics Pvt Ltd           LT/ST Bk Fac       CARE BB+ /CARE 264     Revised from
                                                         A4+                    CARE BB /
                                                                                CARE A4+
Rama Handicrafts                      LT Bk Fac          CARE BB        10.2    Revised from
                                                                                CARE BB-
Ramdev Stainless Strips Pvt Ltd       LT Bk Fac          CARE B+        113.9   Reaffirmed
Ramkrupa Ginning And Pressing Pvt Ltd LT Bk Fac          CARE B+        200     Reaffirmed
S V Ispat Pvt Ltd                     LT Bk Fac          CARE BB-       50      Issuer Not
                                                                                Cooperating
Sanganeriya Spinning Mills Ltd        LT Bk Fac          CARE BB        85      Reaffirmed
Satyam Builders                       LT Bk Fac          CARE BB+       100     Issuer Not
                                                                                Cooperating
Seagull Publishers Pvt Ltd            LT Bk Fac          CARE B+        59.8    Assigned
Sebacic India Ltd                     LT Bk Fac          CARE D         339.6   Reaffirmed
Sebacic India Ltd                     LT/ST Bk Fac       CARE D         159.3   Reaffirmed
Shamanur Sugars Ltd                   LT Bk FacTL*       -              -       Assigned
Shamanur Sugars Ltd                   LT Bk FacCC        CARE B+        501.9   Reaffirmed
(Enhanced from 49.44 CR)
Sharp Realtors                        LT Bk Fac -TL      CARE B         850     Issuer Not
                                                                                Cooperating
Shri Samarth Paper And Board Mill     LT Bk Fac          CARE D         97.6    Issuer Not
                                                                                Cooperating
Skyscape Developers Pvt. Ltd.         LT Bk Fac          -              -       Withdrawn
Snj Synthetics Ltd                    LT Bk Fac          CARE BB        385     Issuer Not
                                                                                Cooperating
Sood Agro Mills                       LT Bk Fac          CARE B+        70      Assigned
Sri Anjaneya Cotton Mills Ltd         LT Bk Fac          CARE BB-       337.7   Revised from
                                                                                CARE BB
(enhanced from 33.40 crore)
Star Raison Landmarks                 LT Bk Fac          CARE BB        400     Assigned
Suncity Sheets Pvt Ltd                LT Bk Fac          CARE BBB       161.4   Revised from
                                                                                CARE BBB-
(enhanced from Rs.16.06 crore)
Suncity Sheets Pvt Ltd                LT/ST Bk Fac       CARE BBB /CARE 290     Revised from
                                                         A3+                    CARE BBB- /
                                                                                CARE A3
Supertech Ltd                         LT Bk Fac          CARE BB+       19000   Reaffirmed
(Enhanced from 1,450 CR)
Supertech Ltd                         NCD                CARE BB+       1058    Reaffirmed
(Reduced from 130.00 CR)
Supertech Precast Technologies Pvt LtdLT Bk Fac          CARE BB+(SO)   385.3   Reaffirmed
Supertech Realtors Pvt Ltd            LT Bk Fac          CARE BB+(SO)   7350    Reaffirmed
Supertech Township Project Ltd        LT Bk Fac          CARE BB+(SO)   3400    Reaffirmed
Surya Textech                         LT Bk Fac          CARE BB        136.7   Assigned
The Ruby Mills Ltd                    LT Bk Fac          CARE BB-       1284.8  Reaffirmed
Turning Point                         LT Bk Fac          CARE BB+       2.6     Reaffirmed
Turning Point                         LT/ST Bk Fac       CARE BB+ /CARE 30      Reaffirmed
                                                         A4
Usha Yarns Ltd                        LT Bk Fac          CARE BBB-      442     Assigned
Usha Yarns Ltd                        LT/ST Bk Fac       CARE BBB-      0.2     Assigned
                                                         /CARE A3+
Vantage Spinners Pvt Ltd              LT Bk Fac          CARE B+        687.5   Reaffirmed
Vasavi Power Services Pvt Ltd         LT Bk Fac          CARE D         150     Issuer Not
                                                                                Cooperating
Vilas Javdekar Eco Homes              Issuer Rating      CARE BB(Is)    -       Notice of
                                                                                Withdrawal
Worldwide Metals Pvt Ltd              LT Bk Fac          CARE BB-       1210    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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