March 10, 2017 / 6:23 AM / 9 months ago

CARE ratings for Indian debt instruments-Mar 10

    Mar 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 9, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Adachi Natural Polymer Pvt Ltd        ST Bk Fac          CARE A4        0.4     Reaffirmed
Agastya Nutrifood Industries Llp      ST Bk Fac          CARE A4        35      Assigned
Alankit Assignments Ltd               ST Bk Fac          CARE A4+       205.2   Reaffirmed
Alfa Flexitubes Pvt Ltd               ST Bk Fac          CARE A4        12.4    Reaffirmed

Anantshree Polymers Pvt Ltd           ST Bk Fac          CARE A4        2.5     Reaffirmed
Anindita Steels Ltd                   ST Bk Fac          CARE A4+       23.2    Issuer Not
                                                                                Cooperating
Anupam Nirman Pvt Ltd                 ST Bk Fac          CARE A3        730     Issuer Not
                                                                                Cooperating
Apex Diamonds                         ST Bk Fac          CARE A4+       80      Reaffirmed
Apricot Tiles India Pvt Ltd           ST Bk Fac          CARE A4        16      Reaffirmed
Bhimani Chemicals Pvt Ltd             ST Bk Fac          CARE A3        60      Revised from
                                                                                CARE A4+
Chamunda Electricals Pvt Ltd          ST Bk Fac          CARE A4        75      Assigned
Casa Décor Pvt Ltd                    ST Bk Fac          -              -       Withdrawn
Exedy India Ltd                       ST Bk Fac          CARE BBB-      92      Reaffirmed
(reduced from Rs.13.10 cr)
Gujarat Liqui Pharmacaps Pvt Ltd      ST Bk Fac          CARE D         20      Revised from
                                                                                CARE A4
Hemodiaz Life Sciences Pvt Ltd        ST Bk Fac          CARE A4        34      Reaffirmed
Hsil Ltd                              ST Bk Fac          CARE A1+       2500    Reaffirmed
Hsil Ltd                              CP *               CARE A1+       2500    Reaffirmed
* carved out of working capital limits of the company
Kay Jay Forgings Pvt Ltd              ST Bk Fac          CARE A2        10      Reaffirmed
Lalsons Plyboard Pvt Ltd              ST Bk Fac          CARE A4        51      Reaffirmed
Manju Shree Syntex Pvt Ltd            ST Bk Fac          CARE A4        5       Assigned
Paramount Automotives Pvt Ltd         ST Bk Fac          CARE A4        10      Issuer Not
                                                                                Cooperating
Partap Spintex Pvt Ltd (Formerly PartaST Bk Fac          CARE A3+       25      Reaffirmed
Spintex Ltd)
Petryc International Pvt. Ltd.        ST Bk Fac          CARE A4+       20      Reaffirmed
R E Cables And Conductors Pvt Ltd     ST Bk Fac          CARE A3+       500     Reaffirmed
(Reduced from 57.00 CR)
Rmbay                                 ST Bk Fac          CARE A4        60      Reaffirmed
Russaka Ply India Ltd                 ST Bk Fac          CARE A4        160     Reaffirmed
Srasthi Buildcon Pvt Ltd              ST Bk Fac          CARE A4        10      Reaffirmed
Supreme Batteries Pvt Ltd             ST Bk Fac          CARE A4        95      Reaffirmed
(enhanced from 4.50 CR)
The Waterbase Ltd                     ST Bk Fac          CARE A3+       389.8   Revised from
                                                                                CARE A3
Tirupati Iron Impex Pvt Ltd           LOC                CARE A4+       210     Issuer Not
                                                                                Cooperating
Tirupati Iron Impex Pvt Ltd           BG                 CARE A4+       20      Issuer Not
                                                                                Cooperating
United Teleservices Ltd.              ST Bk Fac          CARE A4+       150     Issuer Not
                                                                                Cooperating
Vardaan Exports                       ST Bk Fac          CARE A4        10      Issuer Not
                                                                                Cooperating
Vidhani Veneers Pvt Ltd               ST Bk Fac          CARE A4        49      Reaffirmed

LONG TERM RATINGS:
-------------------
Adachi Natural Polymer Pvt Ltd        LT Bk Fac          CARE BB        24.5    Reaffirmed
(reduced from 2.76 CR)
Adachi Natural Polymer Pvt Ltd        LT/ST Bk Fac       CARE BB /CARE  65      Reaffirmed
                                                         A4
Agastya Nutrifood Industries Llp      LT Bk Fac          CARE B+        90      Assigned
Agastya Nutrifood Industries Llp      LT/ST Bk Fac       CARE B+        25      Assigned
Ahmedabad District Cooperative Milk   LT Bk Fac          CARE AAA(SO)   1314    Assigned
Producers’ Union Ltd
Alankit Assignments Ltd               LT Bk Fac          CARE BB+       336     Reaffirmed
Alfa Flexitubes Pvt Ltd               LT Bk Fac          CARE BB        10      Reaffirmed
Alfa Flexitubes Pvt Ltd               LT/ST Bk Fac       CARE BB /CARE  145     Reaffirmed
                                                         A4
Anantshree Polymers Pvt Ltd           LT Bk Fac          CARE BB        68.5    Revised from
                                                                                CARE B
(reduced from 8.98 CR)
Anindita Steels Ltd                   LT Bk Fac          CARE BB+       200     Issuer Not
                                                                                Cooperating
Anupam Nirman Pvt Ltd                 LT Bk Fac          CARE BBB-      200     Issuer Not
                                                                                Cooperating
Apricot Tiles India Pvt Ltd           LT Bk Fac          CARE B+        94.1    Reaffirmed
B. R. Designs Pvt Ltd                 LT Bk Fac          CARE BB        104     Reaffirmed
B. R. Designs Pvt Ltd                 LT/ ST Bk Fac      CARE BB /CARE  196     Reaffirmed
                                                         A4
Baba Bhuman Shah Ji Rice Mills        LT Bk Fac          CARE B         142.8   Assigned
Bhimani Chemicals Pvt Ltd             LT/ ST Bk Fac      CARE BBB-      110     Revised from
                                                         /CARE A3               CARE BB+ /
                                                                                CARE A4+
Casa Décor Pvt Ltd                    LT Bk Fac          -              -       Withdrawn
Chamunda Electricals Pvt Ltd          LT Bk Fac          CARE B+        10      Assigned
Clarion Properties Ltd                LT Bk Fac          CARE BB        700     Reaffirmed
(Enhanced from 20.00 CR)
Clarion Properties Ltd                LT/ST Bk Fac       CARE BB /CARE  26.4    Reaffirmed
                                                         A4
Deepak Proteins Pvt Ltd               LT Bk Fac          CARE B+        90      Reaffirmed
(reduced from 9.09 CR)
Dhruv Cotex Pvt Ltd                   LT Bk Fac          CARE B+        130     Revised from
                                                                                CARE B
Digital Ventures Pvt Ltd              LT Bk Fac@         -              -       Withdrawn
Dignity Buildcon Pvt Ltd              LT Bk Fac          CARE BBB-      7750    Revised from
                                                                                CARE BBB
(enhanced from 675.00 CR)
Dls Papers Pvt Ltd                    LT Bk Fac          CARE B         92.5    Assigned
Exedy India Ltd                       LT Bk Fac          CARE A3+       9.5     Reaffirmed
(reduced from Rs.1.40 cr)
Era Realtors Pvt. Ltd.                LT Bk Fac          -              -       Withdrawn
Garden Silk Mills Ltd                 LT Bk Fac – TL     CARE D         10638.2 Reaffirmed
Garden Silk Mills Ltd                 LT Bk Fac – Fund   CARE D         2987.1  Reaffirmed
                                      based working
                                      capital limits
Garden Silk Mills Ltd                 ST Bk Fac –        CARE D         5320    Reaffirmed
                                      Non-fund based
                                      working capital limits
Garden Silk Mills Ltd                 LT Bk Fac –Non     CARE D         4167.9  Reaffirmed
                                      Fund based
Gujarat Liqui Pharmacaps Pvt Ltd      LT/ST Bk Fac       CARE D         52.5    Revised from
                                                                                CARE BB /
                                                                                CARE A4
H. G. Infratech Pvt Ltd               LT Bk Fac          CARE BB-       280     Revised from
                                                                                CARE B+
Hemodiaz Life Sciences Pvt Ltd        LT Bk Fac          CARE B+        34      Reaffirmed
Hindusthan National Glass & IndustriesNCD - Series-III   -              -       Withdrawn
Ltd
Hindusthan National Glass & IndustriesLT Bk Fac          CARE B+        21139.3 Revised from
Ltd                                                                             CARE BB
(reduced from 2,131.28 CR)
Hindusthan National Glass & IndustriesNCD - Series-III   CARE B+        200     Revised from
Ltd                                                                             CARE BB
Hindusthan National Glass & IndustriesLT/ ST Bk Fac      CARE B+ /CARE  6000    Revised from
Ltd                                                      A4                     CARE BB /
                                                                                CARE A4
Hsil Ltd                              LT Bk Fac          CARE AA-       9156.3  Reaffirmed
(enhanced from 867 CR)
Indus Udyog & Infrastructure Pvt Ltd  LT Bk Fac          CARE BB        220.9   Issuer Not
                                                                                Cooperating
Jaimal Singh Satnam Singh             LT Bk Fac          CARE B+        57.5    Assigned
K.P. Energy Ltd                       LT Bk Fac          CARE BBB-      409.8   Assigned
K.P. Energy Ltd                       LT/ ST Bk Fac      CARE BBB-      90      Assigned
                                                         /CARE A3
Kanodia Textile Mills                 LT Bk Fac          CARE BB-       70      Assigned
Kay Jay Forgings Pvt Ltd              LT Bk Fac          CARE BBB+      1003    Reaffirmed
(enhanced from Rs. 87.37 crore)
Khandoba Distilleries Ltd             LT Bk Fac          CARE BB        650     Issuer Not
                                                                                Cooperating
Koyili Hospital                       LT Bk Fac          CARE BB-       180.1   Reaffirmed
Krishna Shipping And Allied Services  LT Bk Fac          CARE B+        87.5    Assigned
Lalsons Plyboard Pvt Ltd              LT Bk Fac          CARE B+        10      Reaffirmed
Manju Shree Syntex Pvt Ltd            LT Bk Fac          CARE B+        61.5    Assigned
Maxpure Water Systems Pvt Ltd         LT Bk Fac          CARE BB        150     Reaffirmed
Minerva Automobiles Pvt. Ltd.         LT Bk Fac          CARE B+        77.9    Issuer Not
                                                                                Cooperating
Northern Agro Seed Products           LT Bk Fac          CARE BB-       80      Reaffirmed
Pankaj Agro Protinex Ltd              LT Bk Fac          CARE BB-       80      Revised from
                                                                                CARE BB
Paradigm Business Ventures            LT Bk Fac          CARE BB-       150     Revised from
                                                                                CARE B+
Paramount Automotives Pvt Ltd         LT Bk Fac          CARE BB        80      Issuer Not
                                                                                Cooperating
Partap Spintex Pvt Ltd (Formerly PartaLT Bk Fac          CARE BBB       640     Reaffirmed
Spintex Ltd)
Petryc International Pvt. Ltd.        LT Bk Fac          CARE BB        92.9    Reaffirmed
[Reduced from Rs.9.44 crore]
Pnc Kanpur Highways Ltd               LT Bk Fac          CARE BBB+      2452.6  Revised from
                                                                                CARE BBB
(reduced from 268.00 CR)
R E Cables And Conductors Pvt Ltd     LT Bk Fac          CARE BBB       628     Reaffirmed
(Reduced from 64.90 CR)
Radheshyam Ginning Pressing Pvt Ltd   LT Bk Fac          CARE B+        100     Reaffirmed
Raghu Rama Renewable Energy Ltd       LT Bk Fac          CARE B         80      Reaffirmed
Ram Krushna Cotton Industries         LT Bk Fac          CARE BB-       90      Reaffirmed
Rmbay                                 LT Bk Fac          CARE BB        93.9    Reaffirmed
Ruchira Papers Ltd                    LT Bk Fac          CARE BBB+      711.6   Revised from
                                                                                CARE BBB
Ruchira Papers Ltd                    LT/ ST Bk Fac      CARE BBB+      62.5    Revised from
                                                         /CARE A3+              CARE BBB /
                                                                                CARE A3+
Russaka Ply India Ltd                 LT Bk Fac          CARE BB-       35      Reaffirmed
S C Enterprises                       LT Bk Fac          CARE B+        50      Assigned
S E Transstadia Pvt Ltd               LT Bk Fac – TL     CARE D         3499.1  Revised from
                                                                                CARE BBB-
(reduced from Rs.358.00 CR)
S E Transstadia Pvt Ltd               LT Bk Fac – Non-FB CARE D         200     Revised from
                                                                                CARE BBB-
Sai Sudha Motors Pvt Ltd              LT Bk Fac          CARE BB-       110     Reaffirmed
Sar Senapati Santaji Ghorpade Sugar   LT Bk Fac          CARE B-        2657.9  Issuer Not
Factory Ltd                                                                     Cooperating
Shambhu Mahadev Sugar & Allied        LT Bk Fac          CARE B+        284.3   Issuer Not
Industries Ltd                                                                  Cooperating
Shree Gokulesh Rice Mill              LT Bk Fac          CARE B+        65.6    Reaffirmed
(reduced from 6.83 CR)
Shree Vishwakarma Cold Storage        LT Bk Fac          CARE B+        60      Assigned
Sigma C Infrastructure Pvt Ltd        LT Bk Fac          CARE BB        80      Issuer Not
                                                                                Cooperating
Sigma C Infrastructure Pvt Ltd        LT Bk Fac          CARE D         240     Issuer Not
                                                                                Cooperating
Spine Arthroscopic And Joint          LT Bk Fac          CARE BB+       135.6   Assigned
Replacement Centre Pvt Ltd
Srasthi Buildcon Pvt Ltd              LT Bk Fac          CARE B+        43.2    Reaffirmed
Sukhmani Holidays Inn Pvt Ltd         LT Bk Fac          CARE D         133.1   Revised from
                                                                                CARE B+
(Reduced from 15 CR)
Supreme Batteries Pvt Ltd             LT Bk Fac          CARE BB        255.5   Reaffirmed
(enhanced from 22.55 CR)
The Nilgiri Dairy Farm Pvt Ltd        LT Bk Fac@         CARE A(SO)     270     Assigned
@ backed by unconditional and irrevocable corporate guarantee provided by Future Consumer
Limited (rated CARE A/CARE A1; Stable).
The Waterbase Ltd                     LT Bk Fac          CARE BBB       427.5   Revised from
                                                                                CARE BBB-
(reduced from 27.75 CR)
Tirupati Iron Impex Pvt Ltd           CC                 CARE BB+       220     Issuer Not
                                                                                Cooperating
Vardaan Exports                       LT Bk Fac          CARE B+        140     Issuer Not
                                                                                Cooperating
Vardaan Exports                       LT/ST Bk Fac       CARE B+ /CARE  30      Issuer Not
                                                         A4                     Cooperating
Vidhani Veneers Pvt Ltd               LT Bk Fac          CARE B+        10      Reaffirmed
Yogi Cotex Pvt Ltd                    LT Bk Fac          CARE B+        130     Revised from
                                                                                CARE B
--------------------------------------------------------------------------------------------
$: 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