Reuters logo
CARE ratings for Indian debt instruments-Mar 24
March 24, 2017 / 6:15 AM / in 9 months

CARE ratings for Indian debt instruments-Mar 24

    Mar 24 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 23, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A.M. Rice Mills                       ST Bk Fac          CARE A4        60      Issuer not
                                                                                cooperating
Alaska Rubbers Pvt Ltd                ST Bk Fac          -              -       Withdrawn
Apl International Pvt. Ltd.           ST Bk Fac          CARE A4        2400    Revised from
                                                                                CARE A4+

(enhanced from 90.00 CR)
Blue Cross Commodities Pvt Ltd        ST Bk FacNon-FB    CARE A4+       7.5     Assigned
Central U.P. Gas Ltd                  ST Bk Fac          CARE A1        750     Reaffirmed
(enhanced from 15 CR)
F. T. Textiles Pvt Ltd                ST Bk Fac          CARE A4+       4       Revised from
                                                                                CARE A4
F. T. Textiles Pvt Ltd                ST Bk Fac          CARE A4+       4       Revised from
                                                                                CARE A4
Fives Combustion Systems Pvt Ltd      ST Bk Fac          CARE A3+ (SO)  120     Reaffirmed
Ganesha Ecosphere Ltd                 ST Bk Fac          CARE A2+       113     Reaffirmed
Genus Apparels Ltd                    ST Bk Fac          CARE A4        93.6    Reaffirmed
Genesis Resorts Pvt Ltd.              ST Bk Fac          CARE D         20      Issuer not
                                                                                cooperating
Gupta Tex Prints Pvt Ltd              ST Bk Fac          CARE D         2.5     Issuer not
                                                                                cooperating
Hubtown Bus Terminal (Ahmedabad) Pvt. ST Bk Fac          CARE D         275.5   Issuer not
Ltd.                                                                            cooperating
Hajra Medical Agency Pvt Ltd          ST Bk Fac          CARE A4        7.5     Issuer not
                                                                                cooperating
Jindal Green Crop International Pvt   ST Bk Fac (Non     CARE A4+       400     Issuer not
Ltd                                   Fund Based)                               cooperating
Kalyan Toll Infrastructure Ltd        ST Bk Fac          CARE A3+       120     Issuer not
                                                                                cooperating
Maithan International                 ST Bk Fac          CARE A4+       80      Revised from
                                                                                CARE A4
Narsingh Construction                 ST Bk Fac          CARE A4+       40      Issuer not
                                                                                cooperating
Om Metals Infraprojects Ltd           ST Bk Fac          CARE A2        50      Revised from
                                                                                CARE A2+
Pacific Academy Of Higher Education   ST Bk Fac          CARE A2        62      Reaffirmed
And Research Society
Raajratna Energy Holdings Pvt Ltd     ST Bk Fac          CARE A4+       50      Issuer not
                                                                                cooperating
Radha-Rukman Packages Pvt Ltd         ST Bk Fac          CARE A4        5       Issuer not
                                                                                cooperating
Sbs Transpole Logistics Pvt Ltd       ST Bk Fac          CARE A4        1160    Issuer not
                                                                                cooperating
Sekar Constructions                   ST Bk Fac          CARE A4        55      Reaffirmed
(enhanced from 5.00 CR)
Shalimar Distributor & Investment Pvt ST Bk Fac          CARE A4        145     Issuer not
Ltd                                                                             cooperating
Shiv Shipping Services                ST Bk Fac          CARE A4+       4.2     Reaffirmed
Shyam Polyspin Pvt Ltd                ST Bk Fac          CARE A4        20      Reaffirmed
Subrata Kundu Construction Company PvtST Bk Fac          CARE A4        35      Issuer not
Ltd                                                                             cooperating
Sun-N-Sand Hotels Pvt Ltd             ST Bk Fac- BG/LC   CARE A1+       15      Reaffirmed
Tavasya Venture Partners Pvt Ltd      ST Bk Fac          CARE A4        40      Issuer not
                                                                                cooperating
Tulsi Devi Educational Society        ST Bk Fac          CARE A4        37      Issuer not
                                                                                cooperating
Vizag Hospital And Cancer Research    ST Bk Fac          CARE A3        0.1     Reaffirmed
Center Pvt Ltd
Wires & Fabriks (Sa) Ltd.             ST Bk Fac          CARE A3+       102.5   Reaffirmed
Zynke Exports Pvt Ltd                 ST Bk Fac          -              -       Withdrawn

LONG TERM RATINGS:
-------------------
A.M. Rice Mills                       LT Bk Fac          CARE B+        120     Issuer not
                                                                                cooperating
Ajita Sil Chem Pvt Ltd                LT Bk Fac          CARE BB+       259.4   Revised from
                                                                                CARE BB
(Reduced from 30.54 CR)
Ajita Sil Chem Pvt Ltd                LT/ST Bk Fac       CARE BB+ /CARE 60      Revised from
                                                         A4+                    CARE BB /
                                                                                CARE A4
Akshat Roller Flour Mills Pvt Ltd     LT Bk Fac          CARE BB+       200     Issuer not
                                                                                cooperating
Alaska Rubbers Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Apl International Pvt. Ltd.           LT Bk Fac@         -              -       Withdrawn
@CARE has withdrawn the rating assigned to the Long Term Bank Facilities of APL International
Pvt. Ltd upon receipt of no dues certificate from the lender.
Avinash Developers Pvt Ltd            LT Bk Fac          CARE BB        389.8   Issuer not
                                                                                cooperating
Belij Hydro Power Pvt Ltd             LT Bk Fac          CARE BB+       217.4   Issuer not
                                                                                cooperating
Bhilwara Jaipur Toll Road Pvt Ltd     LT Bk Fac          CARE BBB+(SO)* 2627.9  Revised from
                                                                                CARE A-(SO)
* backed by unconditional and irrevocable corporate guarantee from Om Metals Infraprojects Ltd
(OMIL)
Blue Cross Commodities Pvt Ltd        LT Bk FacFB        CARE BB+       300     Assigned
Blue Cross Commodities Pvt Ltd        LT Bk Fac          CARE BB+       20      Assigned
                                      (Proposed TL)
Career Point Ltd                      LT Bk Fac          CARE A         51.1    Assigned
Classic Citi Investments Pvt Ltd      LT Bk Fac – TL     CARE A+(SO)    829.1   Reaffirmed
(reduced from 100 CR)
F. T. Textiles Pvt Ltd                LT Bk Fac          CARE BB+       110.5   Revised from
                                                                                CARE BB
F. T. Textiles Pvt Ltd                LT Bk Fac          CARE BB+       110.5   Revised from
                                                                                CARE BB
Firefly Batteries Pvt Ltd             LT Bk Fac          CARE B+        230     Issuer not
                                                                                cooperating
Firefly Batteries Pvt Ltd             LT/ST Bk Fac       CARE B+ /CARE  87      Issuer not
                                                         A4                     cooperating
Fives Combustion Systems Pvt Ltd      LT/Short- term Bk  CARE BBB+      10      Reaffirmed
                                      Fac                (SO); Stable
                                                         /CARE A3+ (SO)
Ganesha Ecosphere Ltd                 LT Bk Fac          CARE A-        1662.5  Revised from
                                                                                CARE BBB+
Genesis Resorts Pvt Ltd.              LT Bk Fac          CARE D         1189.1  Issuer not
                                                                                cooperating
Genus Apparels Ltd                    LT Bk Fac          CARE BB-       62.4    Reaffirmed
Grain Milling Company Pvt Ltd         LT Bk Fac          CARE BBB+      256.4   Revised from
                                                                                CARE BBB
(Enhanced from Rs.21.54 crore)
Gupta Tex Prints Pvt Ltd              LT Bk Fac          CARE D         97.6    Issuer not
                                                                                cooperating
Gupta Tex Prints Pvt Ltd              LT/ST Bk Fac       CARE D         70      Issuer not
                                                                                cooperating
Hajra Medical Agency Pvt Ltd          LT Bk Fac          CARE BB-       97.5    Issuer not
                                                                                cooperating
Hubtown Bus Terminal (Adajan) Pvt.    LT Bk Fac          CARE D         416.7   Issuer not
Ltd                                                                                cooperating
Hubtown Bus Terminal (Ahmedabad) Pvt. LT Bk Fac – TL     CARE D         1000    Issuer not
Ltd.                                                                            cooperating
Industrial Progressive (India) Ltd    LT Bk Fac          CARE B-        550     Issuer not
                                                                                cooperating
Jindal Green Crop International Pvt   LT Bk Fac (Fund    CARE BB        120     Issuer not
Ltd                                   Based)                                    cooperating
Kalyan Toll Infrastructure Ltd        LT Bk Fac          CARE BBB       2404    Issuer not
                                                                                cooperating
Kalyan Toll Infrastructure Ltd        LT/Short- term Bk  CARE BBB /CARE 1610    Issuer not
                                      Fac                A3+                    cooperating
Landcraft Developers Pvt Ltd          LT Bk Fac          CARE BB+       300     Issuer not
                                                                                cooperating
Louroux Bio Energies Ltd              LT Bk Fac          -              -       Withdrawn
Narsingh Construction                 LT Bk Fac          CARE BB        10      Issuer not
                                                                                cooperating
Om Metals Infraprojects Ltd           LT Bk Fac          CARE BBB+      1320    Revised from
                                                                                CARE A-
Om Metals Infraprojects Ltd           LT/ST Bk Fac       CARE BBB+      4070    Revised from
                                                         /CARE A2               CARE A- /
                                                                                CARE A2+
P.M. Cot Fibers                       LT Bk Fac          CARE D         71.1    Issuer not
                                                                                cooperating
(reduced from 7.75 CR)
Pacific Academy Of Higher Education   LT Bk Fac          CARE BBB+      430.9   Reaffirmed
And Research Society
Pareena Infrastructures Pvt Ltd       LT Bk Fac          CARE BB-       395     Issuer not
                                                                                cooperating
Pnl Constructions Pvt Ltd (Erstwhile  LT Bk Fac          CARE BB        120     Revised from
Mantena Infratech Pvt Ltd)                                                      CARE B+
Raajratna Electrodes Pvt Ltd          LT Bk Fac          CARE BBB       105     Revised from
                                                                                CARE BBB-
Raajratna Energy Holdings Pvt Ltd     LT Bk Fac          CARE BB+       335.5   Issuer not
                                                                                cooperating
Radha-Rukman Packages Pvt Ltd         LT Bk Fac          CARE B         217.2   Issuer not
                                                                                cooperating
Rakesh Kumar Gupta Rice Mills Pvt.    LT Bk Fac          CARE B+        76.4    Issuer not
Ltd                                                                             cooperating
Rkc Infrabuilt Pvt Ltd                LT Bk Fac          CARE BBB-      250     Issuer not
                                                                                cooperating
Rkc Infrabuilt Pvt Ltd                LT/ST Bk Fac       CARE BBB-      1000    Issuer not
                                                         /CARE A3               cooperating
Saico Cranes Pvt Ltd                  LT Bk Fac          CARE BB        95      Assigned
Sangam Press Pvt Ltd                  LT Bk Fac          CARE B+        162.5   Issuer not
                                                                                cooperating
Sanghavi Exports International Pvt.   LT Bk Fac (FB)     CARE D         5445    Issuer not
Ltd                                                                             cooperating
Sanghvi Foods Pvt Ltd                 LT Bk Fac          CARE BBB+      634.4   Revised from
                                                                                CARE BBB
(Enhanced from Rs.49.83 crore)
Sbs Transpole Logistics Pvt Ltd       LT Bk Fac          CARE BB        1000    Issuer not
                                                                                cooperating
Sekar Constructions                   LT Bk Fac          CARE BB-       67.8    Reaffirmed
(enhanced from 4.28 CR)
Shiv Shakti Modern Flour Mills Pvt.   LT Bk Fac          CARE BB-       62.5    Issuer not
Ltd                                                                             cooperating
Shiv Shakti Modern Flour Mills Pvt.   LT Bk Fac          CARE BB-       62.5    Issuer not
Ltd                                                                             cooperating
Shiv Shipping Services                LT/ST Bk Fac       CARE BB+ /CARE 150     Reaffirmed
                                                         A4+
Shyam Polyspin Pvt Ltd                LT Bk Fac          CARE B+        180     Reaffirmed
Sps Educational Trust                 LT Bk Fac          CARE B+        252.5   Issuer not
                                                                                cooperating
Ssv Spinners Pvt Ltd                  LT Bk Fac          CARE B+        371.6   Reaffirmed
(enhanced from 32.16 cr)
Subrata Kundu Construction Company PvtLT Bk Fac          CARE B+        35      Issuer not
Ltd                                                                             cooperating
Sun-N-Sand Hotels Pvt Ltd             LT Bk Fac- TL      CARE AA-       395.4   Reaffirmed
(reduced from 46.88 CR)
Sun-N-Sand Hotels Pvt Ltd             LT Bk Fac- CC      CARE AA-       7.7     Reaffirmed
Suraksha Packers Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Swarnalatha Agritech Pvt Ltd          LT Bk Fac          CARE BB        61.5    Issuer not
                                                                                cooperating
Tavasya Venture Partners Pvt Ltd      LT Bk Fac          CARE BB        15      Issuer not
                                                                                cooperating
The Chennai Silks                     LT Bk Fac          CARE BBB+      500     Reaffirmed
Tulsi Devi Educational Society        LT Bk Fac          CARE B+        18.6    Issuer not
                                                                                cooperating
V. Sathyamoorthy & Co                 LT Bk Fac          CARE BB+       250     Reaffirmed
(enhanced from 20 CR)
Vizag Hospital And Cancer Research    LT Bk Fac          CARE BBB-      112.5   Reaffirmed
Center Pvt Ltd
(reduced from 14.99 CR)
Wellwisher Homes                      LT Bk Fac          -              -       Withdrawn
Wires & Fabriks (Sa) Ltd.             LT Bk Fac          CARE BBB+      459.4   Reaffirmed
Wires & Fabriks (Sa) Ltd.             LT/ST Bk Fac       CARE BBB+      291.5   Reaffirmed
                                                         /CARE A3+
(enhanced from 26.45 CR)
--------------------------------------------------------------------------------------------
$: 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