Reuters logo
CARE ratings for Indian debt instruments-Apr 3
April 3, 2017 / 9:25 AM / 8 months ago

CARE ratings for Indian debt instruments-Apr 3

    Apr 3 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 31, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Arka Carbon Fuels Pvt Ltd             ST Bk Fac          CARE A4        1200    Revised from
                                                                                CARE A3+
Baba Ispat Pvt Ltd                    ST Bk Fac          CARE A4        5.5     Issuer not
                                                                                cooperating

Barmer Lignite Mining Co. Ltd         ST Bk Fac –        CARE A3        250     Reaffirmed
                                      Non-fund based
Dcb Bank Ltd                          ST Bk Fac          CARE A1+       2000    Assigned
Dharampal Premchand Ltd               ST Bk Fac          CARE A3+       61.9    Reaffirmed
Enmas Gb Power Systems Projects Ltd   ST Bk Fac          CARE A4        70      Revised from
                                                                                CARE D
Haldiram Bhujiawala Ltd               ST Bk Fac          CARE A3+       3       Reaffirmed
                                                                                and
                                                                                reclassified
from Long-term /Short-term Bank Facilities
Hospitality Education Services        ST Bk Fac          CARE A4        48      Reaffirmed
International
Integrated Cleanroom Technologies Pvt ST Bk Fac          CARE A2+       150     Reaffirmed
Ltd
Jajoo Rashmi Refractories Pvt Ltd     ST Bk Fac          CARE A4        60      Reaffirmed
Jaymala Spintex Ltd                   ST Bk Fac          CARE A4        24      Issuer not
                                                                                cooperating
Kesar Enterprises Ltd                 ST Bk Fac (Non-FB) CARE D         2       Reaffirmed
Kevin Ceramic Pvt Ltd                 ST Bk Fac          CARE A4        10      Reaffirmed
Kumar Arch Tech Pvt Ltd               ST Bk Fac          CARE A4        120     Reaffirmed
Manav Rachna International University ST Bk Fac          CARE A4        68      Reaffirmed
(Reduced from 11.05 cr)
Noble Tech Industries Pvt Ltd         ST Bk Fac          CARE A4+       929.8   Issuer not
                                                                                cooperating
Sanmarg Projects Pvt Ltd              ST Bk Fac          CARE A4        40      Issuer not
                                                                                cooperating
Solaris Ceramics Pvt Ltd              ST Bk Fac          CARE A2+       78      Reaffirmed
Senthil Papers And Boards Pvt Ltd     ST Bk Fac          CARE D         26.4    Reaffirmed
(increased from 0.25 CR)
Surya Telecom Pvt Ltd                 ST Bk Fac          CARE A4        70      Assigned
Swastik Coal Corporation Pvt Ltd      ST Bk Fac          CARE A4        3200    Revised from
                                                                                CARE A3+
Tocco Ceramic Pvt Ltd                 ST Bk Fac          CARE A2+       56      Reaffirmed
Vallabh Metal Inc.                    ST Bk Fac          CARE A4+       80      Issuer not
                                                                                cooperating
Vardhman Textile Components Ltd       ST Bk Fac          CARE A3        25      Assigned
Varmora Granito Pvt Ltd               ST Bk Fac          CARE A2+       113.5   Reaffirmed
Varmora International                 ST Bk Fac          CARE A2+       10      Reaffirmed

LONG TERM RATINGS:
-------------------
Abhilasha Enterprises                 LT Bk Fac          CARE BB+       60      Assigned
Amrit Humifresh Preservation Pvt Ltd  LT Bk Fac          CARE BB-       150     Issuer not
                                                                                cooperating
Arka Carbon Fuels Pvt Ltd             LT Bk Fac          CARE BB+       100     Revised from
                                                                                CARE BBB
Baba Ispat Pvt Ltd                    LT Bk Fac          CARE BB-       109.7   Issuer not
                                                                                cooperating
Baldev Krishan Memorial Charitable    LT Bk Fac          CARE D         86      Revised from
Society                                                                         CARE B
Barmer Lignite Mining Co. Ltd         LT Bk Fac          CARE BBB       12411.1 Reaffirmed
Barmer Lignite Mining Co. Ltd         LT Bk Fac - CC     CARE BBB       750     Reaffirmed
Belgravia Projects Pvt Ltd            LT Bk Fac          CARE BB        280     Assigned
Birlasoft (India) Ltd                 ST Bk Fac          -              -       Withdrawn*
*The company has repaid the aforementioned short-term term loan in full and there is no amount
outstanding under the said loan as on date.
Birlasoft (India) Ltd                 LT Bk Fac          CARE A+        600     Reaffirmed
(reduced from 65 CR)
Delhi International Airport Pvt Ltd   LT Bk Fac          -              -       Withdrawn
Dharampal Premchand Ltd               LT Bk Fac          CARE BBB       1452.6  Reaffirmed
(reduced from 156.06 CR)
Dharampal Premchand Ltd               LT Bk Fac/ ST Bk   CARE BBB /CARE 100     Assigned
                                      Fac                A3+
Eastern Navigation Pvt. Ltd.          LT Bk Fac          CARE BB+       94      Reaffirmed
(reduced from 10.75 CR)
Edu Smart Services Pvt Ltd            LT Bk Fac          CARE D         1162.9  Issuer not
                                                                                cooperating
Educomp Infrastructure & School       Cumulative         CARE C         340     Issuer not
Management Ltd                        Compulsory CPS                            cooperating
Educomp Infrastructure & School       LT Bk Fac          CARE D         8301    Issuer not
Management Ltd                                                                  cooperating
Enn Tee International Ltd             LT Bk Fac/ ST Bk   CARE A4+       1       Issuer not
                                      Fac                                       cooperating
Educomp Solutions Ltd                 Receivables        CARE D         4040.8  Issuer not
                                      Assignment Facility                       cooperating
Educomp Solutions Ltd                 LT Bk Fac          CARE D         18844   Issuer not
                                                                                cooperating
Educomp Solutions Ltd                 LT Bk Fac/ ST Bk   CARE D         374     Issuer not
                                      Fac                                       cooperating
Educomp Solutions Ltd                 NCD                CARE D         450     Issuer not
                                                                                cooperating
Enmas Gb Power Systems Projects Ltd   LT Bk Fac          CARE C         240     Revised from
                                                                                CARE D
(enhanced from Rs.18 crore)
Enmas Gb Power Systems Projects Ltd   LT Bk Fac/ ST Bk   CARE C /CARE   50      Revised from
                                      Fac                A4                     CARE D
Enn Tee International Ltd             LT Bk Fac          CARE B+        99.1    Issuer not
                                                                                cooperating
Globetech Medicare Pvt Ltd            LT Bk Fac          CARE B+        150     Issuer not
                                                                                cooperating
Grand Hira Resorts Pvt Ltd            LT Bk Fac          CARE D         150     Revised from
                                                                                CARE B+
Haldiram Bhujiawala Ltd               LT Bk Fac          CARE BBB+      497     Reaffirmed
                                                                                and
                                                                                reclassified
from Long-term /Short-term Bank Facilities
Hospitality Education Services        LT Bk Fac          CARE BB-       0.7     Reaffirmed
International
(Reduced from 0.95 CR)
Impact Solar Power Pvt Ltd            LT Bk Fac          CARE B+        35.2    Issuer not
                                                                                cooperating
[reduced from 4.57 CR]
Integrated Cleanroom Technologies Pvt LT Bk Fac          CARE A-        181.8   Reaffirmed
Ltd
Integrated Cleanroom Technologies Pvt LT Bk Fac/ ST Bk   CARE A- /CARE  350     Reaffirmed
Ltd                                   Fac                A2+
Jain Hydraulics Pvt Ltd               LT Bk Fac          CARE BB-       100     Issuer not
                                                                                cooperating
Jajoo Rashmi Refractories Pvt Ltd     LT Bk Fac/ ST Bk   CARE BB- /CARE 80      Reaffirmed
                                      Fac                A4
Jaymala Spintex Ltd                   LT Bk Fac          CARE B+        319.4   Issuer not
                                                                                cooperating
Joshi Technologies International Inc. LT Bk Fac          CARE A+        168.2   Reaffirmed
India Projects
Joyramchak Bandhab Samity             LT Bk Fac          CARE B+        50      Assigned
Kesar Enterprises Ltd                 LT Bk Fac (TL)     CARE D         1072.6  Reaffirmed
Kesar Enterprises Ltd                 LT Bk Fac (FB)     CARE D         633     Reaffirmed
Kevin Ceramic Pvt Ltd                 LT Bk Fac          CARE BB-       56.1    Revised from
                                                                                CARE B+
(Enhanced from 4.86 CR)
Kumar Arch Tech Pvt Ltd               LT Bk Fac/ ST Bk   CARE BB /CARE  105     Long-term
                                      Fac                A4                     revised from
                                                                                CARE
BB-/Reaffirmed
Mahalaxmi Roller Flour Mills          LT Bk Fac          CARE B+        58.4    Issuer not
                                                                                cooperating
Mahima Gems                           Bk Fac- Fund Based CARE BB        3       Reaffirmed
                                      LTTL
Mahima Gems                           Bk Fac- Fund Based CARE BB /CARE  180     Reaffirmed
                                      – LT/ST-Working    A4+
                                      Capital Limits
Manav Rachna International University LT Bk Fac          CARE BB        377.5   Reaffirmed
(Enhanced from 6.00 cr)
Metenere Ltd                          Long/ST Bk         -              -       Withdrawn
                                      FacFund/Non fund
                                      based – proposed limits
Navaratna Hypermarket Pvt Ltd         LT Bk Fac          CARE BB        250     Reaffirmed
Newtech Shelters Pvt Ltd              LT Bk Fac          CARE D         134.4   Revised from
                                                                                CARE BB-
Nile Overseas                         LT Bk Fac          CARE B+        150     Reaffirmed
Noble Tech Industries Pvt Ltd         LT Bk Fac          CARE BB+       1193.6  Issuer not
                                                                                cooperating
Noble Tech Industries Pvt Ltd         LT Bk Fac/ ST Bk   CARE BB+ /CARE 5.2     Issuer not
                                      Fac                A4+                    cooperating
Pan Intellecom Ltd                    LT Bk Fac          CARE BB+       30      Issuer not
                                                                                cooperating
Pan Intellecom Ltd                    LT Bk Fac/ ST Bk   CARE BB+ /CARE 90      Issuer not
                                      Fac                A4+                    cooperating
Paramount Blankets Pvt Ltd            LT Bk Fac          CARE C         210     Issuer not
                                                                                cooperating
Paramount Blankets Pvt Ltd            LT Bk Fac/ ST Bk   CARE C /CARE   10      Issuer not
                                      Fac                A4                     cooperating
Pooja Exports                         LT Bk Fac/ ST Bk   CARE BBB-(SO); 5098.8  Reaffirmed
                                      Fac*               Stable/CARE
                                                         A3(SO)
*Backed by unconditional and irrevocable corporate guarantee from Sidd s Jewels Private to the
lenders of Pooja Exports.
Prasad Education Trust                LT Bk Fac          CARE BB-       456     Issuer not
                                                                                cooperating
Rcs Steel & Auto Pvt Ltd              LT Bk Fac          CARE B         39.8    Issuer not
                                                                                cooperating
[reduced from 5.30 CR]
Rock And Storm Distillaries Pvt Ltd   LT Bk Fac          CARE BB+       320     Assigned
Sai Retail India Pvt Ltd              LT Bk Fac          CARE BBB-      640     Reaffirmed
Sanmarg Projects Pvt Ltd              LT Bk Fac          CARE BB-       25      Issuer not
                                                                                cooperating
Senthil Papers And Boards Pvt Ltd     LT Bk Fac (TL)     CARE D         1723.8  Reaffirmed
(reduced from 177.67 CR)
Senthil Papers And Boards Pvt Ltd     LT Bk Fac (CC)     CARE D         400     Reaffirmed
(reduced from 50.00 CR)
Shiraguppi Sugar Works Ltd            LT Bk Fac          CARE D         1961.6  Revised from
                                                                                CARE B
Shiraguppi Sugar Works Ltd            ST Bk Fac          CARE D         3.7     Revised from
                                                                                CARE A4
Shree Ganpatlal Onkarlal Agrawal & Co.LT Bk Fac          CARE BB+       200     Revised from
                                                                                CARE BBB
Siesta Hospitality Services Ltd       LT Bk Fac          CARE BB+       555.4   Issuer not
                                                                                cooperating
Solaris Ceramics Pvt Ltd              LT Bk Fac          CARE A-        96.6    Reaffirmed
Solaris Ceramics Pvt Ltd              LT Bk Fac/ ST Bk   CARE A- /CARE  180     Reaffirmed
                                      Fac                A2+
Srinivasan Associates Pvt Ltd         LT Bk Fac          CARE BB+       100     Issuer not
                                                                                cooperating
Supreme Poultry Pvt Ltd               LT Bk Fac          CARE BB-       52.1    Reaffirmed
(reduced from 5.84 CR)
Suresh Angadi Education Foundation    LT Bk Fac          CARE D         340.2   Revised from
                                                                                CARE B-
Surya Telecom Pvt Ltd                 LT Bk Fac          CARE B         28.5    Assigned
Swastik Coal Corporation Pvt Ltd      LT Bk Fac          CARE BB+       550     Revised from
                                                                                CARE BBB
Tanot Wind Power Ventures Pvt Ltd     LT Bk Fac^         CARE BBB+ (SO) 43.2    Reaffirmed
(reduced from 660 CR)
Tim Delhi Airport Advertising Pvt Ltd LT Bk Fac          -              -       Withdrawn
Tim Delhi Airport Advertising Pvt Ltd ST Bk Fac          -              -       Withdrawn
Tlg India Pvt Ltd                     Proposed           CARE BBB       18000   Assigned
                                      NonConvertible
                                      Debenture issue
Tocco Ceramic Pvt Ltd                 LT Bk Fac          CARE A-        97.8    Reaffirmed
Tocco Ceramic Pvt Ltd                 LT Bk Fac/ ST Bk   CARE A- /CARE  180     Reaffirmed
                                      Fac                A2+
V.R. Industries Pvt Ltd               LT Bk Fac          CARE BB-       100     Issuer not
                                                                                cooperating
Vardhman Textile Components Ltd       LT Bk Fac          CARE BBB-      97      Assigned
Varmora Granito Pvt Ltd               LT Bk Fac          CARE A-        183.2   Reaffirmed
Varmora Granito Pvt Ltd               LT Bk Fac/ ST Bk   CARE A- /CARE  350     Reaffirmed
                                      Fac                A2+
Varmora International                 LT Bk Fac/ ST Bk   CARE A- /CARE  200     Reaffirmed
                                      Fac                A2+
Vrindaa Crafts Pvt Ltd                LT Bk Fac          CARE BB-       110     Issuer not
                                                                                cooperating
--------------------------------------------------------------------------------------------
$: 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