July 5, 2017 / 4:15 AM / 5 months ago

CARE ratings for Indian debt instruments-Jul 5

    Jul 5 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 4, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ashok Khandelwal                      ST Bk Fac          CARE A4        49.5    Assigned
Balaji Leather Creation               ST Bk Fac          CARE A4        51      Assigned
Best Corporation Pvt Ltd              ST Bk Fac          CARE A1        160     Reaffirmed
reduced from 22 CR

Dbl Tikamgarh Nowgaon Tollways Ltd    ST Bk Fac          CARE A1 (SO)   51.3    Revised from
                                                                                CARE A2+ (SO)
K.C.P. Sugar And Industries Corp      ST Bk Fac          CARE A1        65      Reaffirmed
Ltd
enhanced from 5 CR
Livia Polymer Bottles Pvt Ltd         ST Bk Fac          CARE A2        211.5   Reaffirmed
Madhusudan Agrawal                    ST Bk Fac          CARE A4        40      Reaffirmed
Mrf Ltd                               ST Bk Fac          CARE A1+       5500    Reaffirmed
Paramount Automotives Pvt Ltd         ST Bk Fac          CARE A4        10      Revised from
                                                                                CARE A4
ISSUER NOT COOPERATING
Polyspin Exports Ltd                  ST Bk Fac          CARE A4+       480     Reaffirmed
reduced from 49 cr
Rana Engineering Company              ST Bk Fac          CARE A4        32.5    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
K.C.P. Sugar And Industries Corp      FD                 CARE A (FD)    768.3   Reaffirmed
Ltd
LONG TERM RATINGS:
-------------------
Ashok Khandelwal                      LT Bk Fac          CARE BB        50.5    Assigned
Associated Aluminium Industries Pvt   Long/ST Bk Fac     CARE BBB+      200     Assigned
                                      (Fund based/Non
                                      Fund Based)
Asuti Trading Pvt Ltd                 ST Bk Fac -LC      CARE D         1150    Revised from
                                                                                CARE A4+
Asuti Trading Pvt Ltd                 Bk Fac – CC/LC     CARE D /D      50      Revised from
                                                                                CARE BB+/ A4+
Aura Poly Plastics Pvt Ltd            Bk Fac             CARE BB /A4    70      Assigned
Avirat Infrastructure Pvt Ltd         LT Bk Fac          CARE BB-       117.8   Assigned
Balaji Leather Creation               LT Bk Fac          CARE B+        1.9     Assigned
Bec Fertilizers Ltd                   LT Bk Fac          CARE D         637     Revised from
                                                                                CARE B+
Best Corporation Pvt Ltd              LT Bk Fac          CARE A         2245    Reaffirmed
enhanced from 100.24 CR
Beta Wind Farm Pvt Ltd                LT Bk Fac          CARE D         9697    Assigned
Dbl Betul Sarni Tollways Ltd          LT Bk Fac          CARE A+ (SO)   2410    Revised from
                                                                                CARE A- (SO)
Dbl Hata Dargawon Tollways Ltd        LT Bk Fac          CARE A+ (SO)   740     Revised from
                                                                                CARE A- (SO)
Dbl Hata Dargawon Tollways Ltd        Bk Fac             CARE A+ (SO)   37.1    Revised from
                                                         /A1                    CARE A- (SO)/
                                                                                A2+ (SO)
Dbl Patan Rehli Tollways Ltd          LT Bk Fac          CARE A+ (SO)   1950    Revised from
                                                                                CARE A- (SO)
Dbl Patan Rehli Tollways Ltd          Bk Fac             CARE A+ (SO)   104.3   Revised from
                                                         /A1                    CARE A- (SO)/
                                                                                A2+ (SO)
Dbl Tikamgarh Nowgaon Tollways Ltd    LT Bk Fac          CARE A+ (SO)   970     Revised from
                                                                                CARE A- (SO)
Eefco Metals & Powders Pvt Ltd        LT Bk Fac          CARE BB        64.4    Revised from
                                                                                CARE BB
ISSUER NOT COOPERATING; Reduced from 7.86 CR
Fepl Engineering Pvt Ltd              LT Bk Fac          CARE D         20      Revised from
                                                                                CARE BB-
Fepl Engineering Pvt Ltd              Bk Fac             CARE D/ D      35      Revised from
                                                                                CARE BB- /A4
Henraajh Feeds India Pvt Ltd          LT Bk Fac          CARE BB-       187.8   Revised from
                                                                                CARE B+
reduced from 20.00 CR
Indiabulls Real Estate Ltd            Proposed NCDs      CARE AA-       5750    Assigned
                                      (NCD)
Jalpa Devi Tollways Ltd               LT Bk Fac          CARE A+ (SO)   6540    Revised from
                                                                                CARE A- (SO)
K.C.P. Sugar And Industries Corp      LT Bk Fac          CARE A         1585.9  Reaffirmed
Ltd
enhanced from 124.57 CR
Livia Polymer Bottles Pvt Ltd         LT Bk Fac          CARE A-        254.2   Reaffirmed
Livia Polymer Bottles Pvt Ltd         Working Capital    CARE A- /A2    175     Reaffirmed
                                      Limits
Madhusudan Agrawal                    LT Bk Fac          CARE BB-       20      Revised from
                                                                                CARE B+
Mrf Ltd                               LT Bk Fac          CARE AAA       21000   Reaffirmed
Enhanced from Rs.1200 crore
Nanis Buildcon Pvt Ltd                LT Bk Fac          CARE B+        100     Assigned
Newrise Healthcare Pvt Ltd            LT Bk Fac          --                     Withdrawn
Paramount Automotives Pvt Ltd         LT Bk Fac          CARE BB        80      Revised from
                                                                                CARE BB
ISSUER NOT COOPERATING
Phoolchand Infrastructure Pvt Ltd     LT Bk Fac          CARE BB-       150     Assigned
Polyspin Exports Ltd                  LT Bk Fac          CARE BB+       216.6   Reaffirmed
reduced from 22.13 cr
Promont Hillside Pvt Ltd              Proposed NCDs      CARE AA (SO)   4000    Final rating
                                      (NCD)
Rana Engineering Company              LT Bk Fac          CARE BB        60      Reaffirmed
Shiv Dal Mill                         LT Bk Fac          CARE B+        100     Assigned
Sourcehov India Pvt Ltd               LT Bk Fac – FB     CARE BB+       150     Reaffirmed
                                      Limits
Sumedha Vehicles Pvt Ltd              LT Bk Fac          CARE B+        150     Assigned
Sun Direct Tv Pvt Ltd                 LT Bk Fac          CARE BBB+      9262.6  Reaffirmed
Enhanced from Rs. 369.68 crore
Super Infratech Pvt Ltd               LT Bk Fac          CARE D         71.4    Assigned
Super Infratech Pvt Ltd               ST Bk Fac          CARE D         107.4   Assigned
Suryavanshi Infrastructure Pvt Ltd    LT Bk Fac          CARE A+ (SO)   36.8    Revised from
                                                                                CARE A- (SO)
Suryavanshi Infrastructure Pvt Ltd    Bk Fac             CARE A+ (SO)   2.6     Revised from
                                                         /A1 (SO)               CARE A- (SO)
                                                                                /A2+ (SO)
Tata Motors Ltd                       NCD                CARE AA+       10000   Assigned
Taurus Cv Trust March 2017 (OriginatorSeries A PTC#      CARE AAA (SO)  4493.9  Final rating
Hinduja Leyland Finance Ltd)                                                    Assigned
#Series A PTCs are rated on ultimate payment basis
Vriddhi Infratech-Blacklead Infratech LT Bk Fac          CARE B         150     Assigned
--------------------------------------------------------------------------------------------
$: 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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