June 2, 2017 / 6:41 AM / 6 months ago

CARE ratings for Indian debt instruments-Jun 2

    Jun 2 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 1, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Glass Wall Systems India Pvt Ltd      ST Bk FacLC/BG     CARE A3+       1650    Reaffirmed
Smbt Sevabhavi Trust                  ST Bk Fac          CARE A4        236     Reaffirmed



LONG TERM RATINGS:
-------------------
Artemis Cv Ifmr Capital 2015          Artemis CV IFMR    -              -       Withdrawn
[Originator: Ikf Finance Ltd]         Capital 2015
Avinash Ramkrishna Developers Pvt Ltd LT Bk Facility     CARE BB+       280     Reaffirmed
Glass Wall Systems India Pvt Ltd      LT Bk Fac-CC       CARE BBB+      850     Reaffirmed
Golden Star Designer Pvt Ltd          LT Bk Fac          CARE B+        50      Assigned
Grebe Cv Ifmr Capital 2017 (OriginatorSeries A1 PTCs#    CARE A-        -       Assigned
Ikf Finance Ltd)
#Series A PTCs are rated on ultimate payment basis
Grebe Cv Ifmr Capital 2017 (OriginatorSeries A2 PTCs#    CARE BBB+      -       Assigned
Ikf Finance Ltd)
#Series A PTCs are rated on ultimate payment basis
Ksheer Sagar Developers Pvt Ltd       LT Bk Fac@         CARE BBB-      450     Assigned
@ backed by unconditional and irrevocable corporate guarantee provided by Royal Orchid Hotels
Limited (rated CARE BBB-; Stable).
Mace Ifmr Capital 2017 (Originator:   Series A1 PTCs#    CARE A-        -       Assigned
Arohan Financial Services Pvt Ltd)
#Series A PTCs are rated on ultimate payment basis
Mace Ifmr Capital 2017 (Originator:   Series A2 PTCs#    CARE BBB+      -       Assigned
Arohan Financial Services Pvt Ltd)
#Series A PTCs are rated on ultimate payment basis
Matrix Agro Pvt Ltd                   LT Bk Fac          CARE D         318.7   Issuer not
                                                                                cooperating
Rama Marketing Enterprises            LT Bk Fac          CARE BB/A4     350     Assigned
Smbt Sevabhavi Trust                  LT Bk Fac          CARE BB        1404.6  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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