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CARE ratings for Indian debt instruments-Mar 15
March 15, 2017 / 7:30 AM / 8 months ago

CARE ratings for Indian debt instruments-Mar 15

   Mar 15 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 14, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Amazon Wood Pvt Ltd                   ST Bk Fac          CARE A3        350     ISSUER NOT
                                                                                COOPERATING
Aptus Value Housing Finance India Ltd ST Bk Fac          CARE A2+       30      Reaffirmed
Au Housing Finance Ltd                Proposed CP (CP)   CARE A1+       500     Assigned
                                      issue
Club29 Pvt Ltd                        ST Bk Fac          CARE A4        7.5     Reaffirmed
Ess And Bee International             Short -Term Bk Fac CARE A4+       86      Reaffirmed
Gopal Sea Foods                       ST Bk Fac          CARE A4        75      Assigned
Green Woods Palaces And Resorts Pvt Ltd ST Bk Fac        CARE A3        185     Reaffirmed
Impetus Infotech (India) Pvt Ltd      ST Bk Fac          CARE A1        145     Reaffirmed
Investment & Precision Castings Ltd.  Short -Term Bk Fac CARE A3        40      Reaffirmed
Jagdamba Steels                       ST Bk Fac          CARE A4        30      Reaffirmed
K M Trans Logistics Pvt Ltd           ST Bk Fac          CARE A4+       80      Reaffirmed
Khandelwal Laboratories Pvt Ltd       ST Bk Fac          CARE A4+       70      Revised from
                                                                                CARE A3
Ostwal Phoschem (India) Ltd           ST Bk Fac          CARE A3        31      Reaffirmed
Paragon Cable India                   ST Bk Fac          CARE A4        55      Reaffirmed
Ratan Engineering Company Pvt Ltd     ST Bk Fac          CARE A4        2.5     Reaffirmed
Revati Texwinka Pvt Ltd               ST Bk Fac          CARE A4        35      Reaffirmed
Sabari Constructions Technologies Pvt ST Bk Fac          CARE A4        75      Reaffirmed
Ltd
Sanjay Trade Corporation              Short -Term Bk Fac CARE A4        300     Reaffirmed
Shankar Packagings Ltd                ST Bk Fac          CARE A2        40      Assigned
Shonan Engineering Works Pvt Ltd      ST Bk Fac          CARE A4        170     Reaffirmed
Shree Ganesh Rice Mills               ST Bk Fac          CARE A4        17      Issuer Not
                                                                                Cooperating
Shree Sales Corporation               ST Bk Fac          CARE A4        12.5    Reaffirmed
Sintercom India Pvt Ltd               ST Bk Fac          CARE A4        80      Reaffirmed
Stanlubes & Specialities (India) Pvt Ltd ST Bk Fac       CARE A4        10      Issuer not
                                                                                cooperating;
                                                                                Based on 
                                                                                best available
                                                                                information
Syndicate Impex                       ST Bk Fac          CARE A4        43      Assigned
Taurus Tiles Pvt Ltd                  ST Bk Fac          CARE A3 (SO)   15      Revised from
                                                                                CARE A2 (SO)
Tourism Finance Corporation Of India Ltd CP (proposed)   CARE A1+       500     Assigned
Vaibhu Infra Tech India Pvt Ltd       ST Bk Fac          CARE A4        30      Reaffirmed
Viksu Designs Pvt Ltd                 ST Bk Fac          CARE A4        120     Withdrawn
Vinshil Polychem                      ST Bk Fac          CARE A4        60      Reaffirmed
Uttam Galva Metallics Ltd             ST Bk Fac (Non-FB) CARE D         9100    Reaffirmed
Welmade Locking Systems Pvt Ltd       ST Bk Fac          CARE A2+;      3.5     Issuer not
                                                                                cooperating;
                                                                                Based on 
                                                                                best available
                                                                                information

LONG TERM RATINGS:
-------------------
A.S. Motors Pvt Ltd                   LT Bk Fac          CARE B+;       171.5   Reaffirmed
Aacharan Enterprises Pvt Ltd          LT Bk Fac          CARE BB        200     Reaffirmed
Aifaz Cotton Processors               LT Bk Fac          CARE B+        120     Assigned
Ajay Landmark Pvt Ltd                 LT Bk Fac          CARE B         122.5   Assigned
Amazon Wood Pvt Ltd                   LT Bk Fac          CARE BBB-      182.3   ISSUER NOT
                                                                                COOPERATING
Angel Fibers Pvt Ltd                  LT Bk Fac          CARE B+        150     Assigned
Aptus Value Housing Finance India Ltd LT Bk Fac          CARE A-        4970    Reaffirmed
Aptus Value Housing Finance India Ltd NCD Issue          CARE A-        1000    Reaffirmed
Aravali Transmission Service Company  LT Bk Fac          CARE A         1208.3  Revised from
Ltd.                                                                            CARE BBB-
Arya Educational And Cultural Society LT Bk Fac          CARE B+        90      ISSUER NOT
                                                                                COOPERATING
Au Housing Finance Ltd                LT Bk Fac          CARE A+        3850    Assigned
Bajrang Steel & Alloys Ltd            LT Bk Fac          CARE BB        140     ISSUER NOT
                                                                                COOPERATING.
                                                                                Based on 
                                                                                best available
                                                                                information
Bharat Spun Pipe And Construction     LT/ST Bk Fac       CARE BB-/CARE  200     Suspension
Company                                                  A4                     Revoked and
                                                                                Rating 
                                                                                Revised 
                                                                                from 
                                                                                CARE BB/CARE A4
Bharat Spun Pipe And Construction     LT Bk Fac          CARE BB-;      80      Suspension
Company                                                                         Revoked and
                                                                                Rating 
Revised from CARE BB
Bharti Construction Company           Long- Term Bk Fac  CARE BB+       180     Reaffirmed
Bharti Construction Company           LT/ST Bk Fac       CARE BB+/CARE  374     Reaffirmed
                                                         A4+
Chemietron Clean Tech Pvt Ltd         LT Bk Fac          CARE B+        54.6    Issuer not
                                                                                cooperating;
                                                                                Based on 
                                                                                best available
                                                                                information
Chemietron Clean Tech Pvt Ltd         LT Bk Fac / ST Bk  CARE B+ /CARE  10      Issuer not
                                      Fac                A4;                    cooperating;
                                                                                Based on 
                                                                                best available
                                                                                information
Chennai Petroleum Corporation Ltd     LT Bk Fac          CARE AAA       10000   Reaffirmed
Club29 Pvt Ltd                        LT Bk Fac          CARE D         121.3   Revised from
                                                                                CARE B+
Commercial Carriers Ltd               LT Bk Fac          CARE D;        59.9    Issuer not
                                                                                cooperating;
                                                                                
Revised from CARE B+(Single B Plus;) on the basis of best available information
Dakshin Haryana Bijli Vitran Nigam LtdIssuer Rating      CARE BB (Is)           Reaffirmed
Eastern Logica Infoway Ltd            LT Bk Fac          CARE BBB       300     Revised from
                                                                                CARE BBB-
Emson Tools Manufacturing Corporation LT Bk Fac          CARE BB-       180     Issuer not
Ltd                                                                             cooperating;
                                                                                Based on 
                                                                                best available
                                                                                information
Faery Estates Pvt Ltd                 LT Bk Fac- LRD                            Withdrawn
                                      Loan-A
Faery Estates Pvt Ltd                 LT Bk Fac- LRD                            Withdrawn
                                      Loan-B
Faery Estates Pvt Ltd                 Proposed LT Bk                            Withdrawn
                                      Fac- LRD Loan-C
Fortune Rice Ltd                      LT Bk Fac          CARE BB        11.4    Reaffirmed
Fortune Rice Ltd                      LT/ ST Bk Fac      CARE BB/CARE A4350     Reaffirmed
Green Woods Palaces And Resorts Pvt Ltd LT Bk Fac        CARE BBB       2400    Reaffirmed
Hindupur Steel And Alloys Pvt Ltd     Long- Term Bk Fac  CARE BB-       222.1   Reaffirmed
Impetus Infotech (India) Pvt Ltd      LT Bk Fac          CARE A         540.5   Reaffirmed
Indian Infradevelopers                LT Bk Fac          CARE BB-       60      Reaffirmed
Indo Products                         Long- Term Bk Fac  CARE B         60      Issuer Not
                                                                                Cooperating
Innotech Educational Society          LT Bk Fac          CARE D         190     Issuer not
                                                                                cooperating;
Revised from CARE B+(Single B Plus;) on the basis of best available information
Investment & Precision Castings Ltd.  Long- Term Bk Fac  CARE BBB-      555.2   Reaffirmed
Jagdamba Steels                       LT Bk Fac          CARE BB        120     Reaffirmed
Jagdambaa Agro Mill Pvt Ltd           LT Bk Fac          CARE B         219.2   Issuer not
                                                                                cooperating;
                                                                                Based on 
                                                                                best available
                                                                                information
Jasdan Energy Pvt Ltd                 LT Bk Fac          CARE BBB+      1412.2  Reaffirmed
Joy Syndicate & Enclave Pvt Ltd       LT Bk Fac          CARE BB        93.5    Reaffirmed
K M Trans Logistics Pvt Ltd           LT Bk Fac          CARE BB+       320     Reaffirmed
Kaadambary Ricetech Pvt Ltd           LT Bk Fac          CARE D         145     Issuer Not Co
                                                                                operating;
Revised from CARE B (Single B) on the basis of best information available
Kamal Ideal Infratech Pvt Ltd         LT Bk Fac          CARE BB-       157.9   Assigned
Khandelwal Laboratories Pvt Ltd       LT Bk Fac          CARE BB+       130     Revised from
                                                                                CARE BBB-
Krishana Phoschem Ltd                 LT / ST Bk Fac     CARE BBB/CARE  170     Reaffirmed
                                                         A3
Lavanya Pure Food Pvt Ltd             LT Bk Fac          CARE B         132.2   Issuer not
                                                                                cooperating;
Revised from CARE B+(Single B Plus;) on the basis of best available information
Ma Moni Cold Storage Pvt Ltd          LT Bk Fac          CARE B+        64      Issuer not
                                                                                cooperating;
                                                                                Based on 
                                                                                best available
                                                                                information
Madhya Bharat Agro Products Ltd       LT Bk Fac          CARE BBB       416     Reaffirmed
Mahabir Industries                    LT Bk Fac          CARE BB-       90      Revised from
                                                                                CARE B+
Maru Transmission Service Company Ltd.LT Bk Fac          CARE A-;       1692.3  Revised from
                                                                                CARE BBB-
Maruti Granites & Marbles Pvt Ltd     LT Bk Fac          CARE BB        1       Reaffirmed
Maruti Granites & Marbles Pvt Ltd     LT /ST Bk Fac      CARE BB /CARE  110     Reaffirmed
                                                         A4
Metmill Footwear Pvt Ltd              Long/ST Bk Fac     CARE AA (SO)   100*    Assigned
                                                         / CARE A1+ (SO)
*Backed by Unconditional, Irrevocable and continuing
 Corporate Guarantee given by Metro Shoes Limited.
Metmill Footwear Pvt Ltd              Long/ST Bk Fac     Provisional    150*^   Assigned
                                                         CARE AA (SO
*Backed by Unconditional, Irrevocable and continuing Corporate Guarantee 
given by Metro Shoes Limited. 
^ Ratings are provisional and would be finalized upon receipt of final 
executed documents to the satisfaction of CARE. 
Moti Ram Sunil Kumar                  LT Bk Fac          CARE B         66.7    Issuer Not
                                                                                Cooperating
Nigam Industries                      LT Bk Fac          CARE B+        64      Assigned
Niki Agro Products Pvt Ltd            LT Bk Fac          CARE D         122.4   Issuer Not
                                                                                Cooperating;
Revised from CARE BB (Double B) on the basis of best information available
North East Ferro Alloys Company Pvt Ltd LT Bk Fac        CARE B+        59.5    Issuer not
                                                                                cooperating;
                                                                                Based on 
                                                                                best available
                                                                                information
Npp Printing N Packaging              LT Bk Fac          CARE BB+       70      Issuer not
                                                                                cooperating
Ostwal Phoschem (India) Ltd           LT Bk Fac          CARE BBB       93.2    Reaffirmed
Ozone Logistics Pvt Ltd               LT Bk Fac          CARE BB+ (SO)  295     Reaffirmed
Palak Ferro Alloys                    LT Bk Fac          CARE D         61      Issuer not
                                                                                cooperating;
                                                                                
Revised from CARE B+ (Single B Plus) on the basis of best available information
Palaparthi Super Speciality Hospital  LT Bk Fac          CARE B+        700     Revised from
Pvt Ltd                                                                         CARE BB+
Panama Agriculture Pvt Ltd            LT Bk Fac          CARE D         30.8    Revised from
                                                                                CARE B
Paragon Cable India                   LT Bk Fac          CARE BB;       40      Reaffirmed
Patel Phoschem Ltd                    LT Bk Fac          CARE BB-       163     Reaffirmed
Pratiroop Mudran                      LT Bk Fac          CARE B+        89.7    Reaffirmed
Prem Jain Ispat Udyog Pvt Ltd         LT Bk Fac          CARE BB        196.4   Issuer not
                                                                                cooperating.
                                                                                Based on 
                                                                                best available
                                                                                information
Rail.One Usa Corp                     LT Bk Fac*         CARE BB (SO)   1090    Assigned
*Backed by unconditional and irrevocable corporate guarantee of PCM Cement Concrete Pvt Ltd
Ratan Engineering Company Pvt Ltd     LT Bk Fac          CARE B+;       127.5   Reaffirmed
Repco Home Finance Ltd                LT Bk Fac          CARE AA        30450.1 Reaffirmed
Repco Home Finance Ltd                NCDs               CARE AA        5000    Reaffirmed
Repco Home Finance Ltd                NCDs               CARE AA        10000   Reaffirmed
Revati Texwinka Pvt Ltd               LT Bk Fac          CARE BB-;      32.3    Reaffirmed
S Satyanarayana & Co                  LT Bk Fac          CARE B+        25      Assigned
S Satyanarayana & Co                  LT/ST Bk Fac       CARE           120     Assigned
                                                         B+;Stable/CARE
                                                         A4
Sabari Constructions Technologies Pvt LT Bk Fac          CARE BB        225.5   Reaffirmed
Ltd
Saisudhir Energy Ltd                  LT Bk Fac          CARE D         1468.7  Reaffirmed
Sanjay Trade Corporation              Long- Term Bk Fac  CARE B         50      Reaffirmed
Sethia Foods                          LT Bk Fac          CARE BB+       81.3    Revised from
                                                                                CARE BB
Shankar Packagings Ltd                LT Bk Fac          CARE BBB+      110     Assigned
Shonan Engineering Works Pvt Ltd      LT Bk Fac          CARE BB-       75.3    Revised from
                                                                                CARE BB
Shonan Engineering Works Pvt Ltd      LT Bk Fac                                 Withdrawn
Shree Ganesh Jewellers Ltd            LT Bk Fac          CARE B+;       287.5   Revised from
                                                                                CARE BB
Shree Ganesh Poly Plast Pvt Ltd       LT Bk Fac          CARE BB        61.2    Issuer not
                                                                                cooperating;
                                                                                Based on 
                                                                                best available
                                                                                information
Shree Ganesh Rice Mills               LT Bk Fac          CARE B+        133     Issuer Not
                                                                                Cooperating
Shree Sales Corporation               LT Bk Fac          CARE BB-       22.6    Reaffirmed
Shree Sales Corporation               LT/ST Bk Fac       CARE BB-/CARE  47.5    Reaffirmed
                                                         A4
Shri Ram Precisions                   LT Bk Fac          CARE BB+ (SO)  187     Reaffirmed
Shri Vardhman Milk Dairy Pvt Ltd      LT Bk Fac          CARE BB-       41.6    Assigned
Shrikalyani Agritech Pvt. Ltd.        LT Bk Fac          CARE B+        116.7   Issuer not
                                                                                cooperating
Shriram Ozone Retail Pvt Ltd          LT Bk Fac          CARE BB+ (SO)  183.4   Reaffirmed
Sintercom India Pvt Ltd               LT Bk Fac          CARE BB        197.1   Reaffirmed
Sintercom India Pvt Ltd               Long/ST Bk Fac     CARE BB/CARE A479.7    Reaffirmed
Sonotel Hotels & Resorts Pvt Ltd      LT Bk Fac          CARE BB-       45.4    Reaffirmed
Stanlubes & Specialities (India) Pvt LLT Bk Fac          CARE B-        44.2    Issuer not
                                                                                cooperating;
Revised from CARE B (Single B) on the basis of best available information
Syndicate Impex                       Long- Term Bk Fac  CARE B+        11.6    Assigned
Taurus Tiles Pvt Ltd                  Long- Term Bk Fac  CARE BBB (SO)  358.1   Revised from
                                                                                CARE BBB+ (SO)
Taurus Tiles Pvt Ltd                  LT/Shortterm Bk FacCARE BBB (SO)  50      Revised from
                                                         /CARE A3 (SO)          CARE
                                                                                BBB+(SO)/CARE A2
(SO)
Terra Infra Development Ltd           Long/ST Bk Fac     CARE B- /CARE  92.8    Revised from
                                                         A4                     CARE B / CARE
                                                                                A4
Tourism Finance Corporation Of India Ltd LT Subordinated CARE A;        1000    Reaffirmed
                                      Bonds
Tourism Finance Corporation Of India Ltd  LT Bk Fac      CARE A+        6815    Reaffirmed
Uttam Galva Metallics Ltd             LT Bk Fac (TL)     CARE D         39339.4 Reaffirmed
Uttam Galva Metallics Ltd             LT Bk Fac (FB)     CARE D         1700    Revised from
                                                                                CARE C
Vaibhu Infra Tech India Pvt Ltd       LT Bk Fac          CARE BB-       35      Reaffirmed
Vinshil Polychem                      LT Bk Fac          CARE B+        5       Reaffirmed
Welmade Locking Systems Pvt Ltd       Long- Term Bk Fac  CARE A-        113.6   Issuer not
                                                                                cooperating;
                                                                                Based on 
                                                                                best available
                                                                                information
--------------------------------------------------------------------------------------------
$: 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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