October 12, 2016 / 7:11 AM / a year ago

CARE ratings for Indian debt instruments-Oct 12

Oct 12 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 10, 2016.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Apollo Metalex Pvt Ltd                CP (CP) Programme* CARE A1+       250     Revised from
                                                                                CARE A1
* carved out of the sanctioned working capital limits of the company
Celebi Nas Airport Services India Pvt ST Bk Fac (NonFB - CARE A2+       50      Revised from
Ltd                                   BG/ LC)                                   A2
Gobind Sugar Mills Ltd                ST Bk Fac          CARE A4+       25      Revised from
                                                                                CARE A4
H. R. Polycoats Pvt Ltd               ST Bk Fac          CARE A3        160.9   Reaffirmed
Il&Fs Financial Services Ltd.         CP (CP) / ST Debt  CARE A1+       12500   Reaffirmed
                                      (STD) issue
K S Commodities Pvt Ltd               ST Bk Fac          CARE A4+       60      Reaffirmed
Krishnapatnam Port Co. Ltd            ST Instruments - CPCARE A1        1000    Reaffirmed
M/S. Royal Diam                       ST Bk Fac          CARE A3        650     Reaffirmed
Madhav Alloys Pvt Ltd                 ST Bk Fac          CARE A2+       700     Revised from
                                                                                CARE A2
Maxima Traders Bhopal Pvt Ltd         LT / ST Bk Fac     CARE A3        425     Reaffirmed
Mechemco Industries                   ST Bk Fac          CARE A4+       20      Reaffirmed
Million Traders Bhopal Pvt Ltd        LT / ST Bk Fac     CARE A3        200     Reaffirmed
Nagarjuna Agrichem Ltd                ST Bk Fac          CARE A3+       900     Reaffirmed
Natural Storage Solutions Pvt Ltd     ST Bk Fac          CARE A3        140     Reaffirmed
Prudhvi Infra Projects Pvt Ltd        ST Bk Fac          CARE A4        20      Assigned
Racl Geartech Ltd                     ST Bk Fac          CARE A3        20      Reaffirmed
Rishi Fibc Solutions Pvt Ltd          ST Bk Fac          CARE A2+       150     Reaffirmed
Shiva Texyarn Ltd On 'Credit Watch'   ST Bk Fac          CARE A3+       851     Placed on
                                                                                Credit Watch
Shri Balaji Industrial Products Ltd   ST Bk Fac          CARE A3+       150     Reaffirmed
Smilax Laboratories Ltd               ST Bk Fac          CARE A3        187.9   Reaffirmed
South West Port Ltd.                  ST Bk Fac (NFB-    CARE A1+       1550    Reaffirmed
                                      LC/BG)
Sree Rani Sati Overseas Pvt Ltd       ST Bk Fac          CARE A4        200     Reaffirmed
Stamlo Hotels Ltd                     ST Bk Fac          CARE A2+       45      Revised from
                                                                                CARE A3+


MEDIUM TERM RATINGS:
-------------------
Icici Home Finance Company Ltd        Fixed Deposits     CARE AAA (FD)          Reaffirmed
                                                         (SO)

LONG TERM RATINGS:
-------------------
Arcotech Ltd                          LT Bk Fac          CARE BB        2668.1  Revised from
                                                                                CARE BBB
Arcotech Ltd                          LT/ST Bk Fac       CARE BB /CARE  2050    Revised from
                                                         A4                     CARE BBB /
                                                                                CARE A3+
Aruna Finance Ltd                     LT Bk Fac          CARE BB-       180     Reaffirmed
Bodhi Hotel & Resorts Pvt Ltd         LT Bk Fac          CARE BB        175     Assigned
Celebi Nas Airport Services India Pvt LT Bk Fac          CARE A-        1045    Revised from
Ltd                                   (Fundbased -TL)                           CARE BBB+
Celebi Nas Airport Services India Pvt LT Bk Fac          CARE A-        100     Revised from
Ltd                                   (Fundbased - CC)                          CARE BBB+
Energy Efficiency Services Ltd        NCD issue          CARE AA        5000    Reaffirmed
Energy Efficiency Services Ltd        LT/ ST Bk Fac      CARE AA/CARE   10000   Reaffirmed
                                                         A1+
Eses Commercials Pvt Ltd              Bk Fac-Fund        CARE BBB-(SO)* 200     Assigned
                                      based-TL
* rating is based on the credit enhancement in the form of letter of comfort provided 
by the promoter of Future Group for the sanctioned facilities
Eses Commercials Pvt Ltd              Bk Fac-Fund        CARE BBB-(SO)* 300     Assigned
                                      based-Working
                                      Capital TL
* rating is based on the credit enhancement in the form of letter of comfort provided
by the promoter of Future Group for the sanctioned facilities
Ess Kay Auto Finance Pvt. Ltd.        Proposed NCD issue CARE BBB       200     Assigned
                                      (Senior Debt)
Friends Polypack                      LT Bk Fac          CARE B+        37.7    Reaffirmed
Gayatri Projects Ltd                  LT Bk Fac          CARE BB-       2108.84 Reaffirmed
Gayatri Projects Ltd                  LT/ST Bk Fac       CARE BB-/CARE  39000   Reaffirmed
                                                         A4
Giga Solutions Pvt Ltd                Bk Fac                                    Withdrawn
Gobind Sugar Mills Ltd                LT Bk Fac          CARE BB+       1560.4  Revised from
                                                                                CARE BB
Gobind Sugar Mills Ltd                LT Bk Fac*         CARE BBB+ (SO) 1414.6  Reaffirmed
H. R. Polycoats Pvt Ltd               LT Bk Fac          CARE BBB-      293.2   Reaffirmed
Haryana Cybernet Pvt Ltd              Bk Fac                                    Withdrawn
Idaa Infrastructure Pvt Ltd           LT Bk Fac          CARE A         3284.6  Revised from
                                                                                CARE A-
Idasa India Ltd                       LT Bk Fac          CARE B+        79      Assigned
Il&Fs Financial Services Ltd.         NCDs               CARE AAA       10000   Assigned
Il&Fs Financial Services Ltd.         Subordinate Debt   CARE AAA       1000    Assigned
Il&Fs Financial Services Ltd.         NCDs               CARE AAA       25000   Reaffirmed
Il&Fs Financial Services Ltd.         Subordinated Debt  CARE AAA       9000    Reaffirmed
Il&Fs Financial Services Ltd.         Non-convertible    CARE AAA       2500    Reaffirmed
                                      Redeemable
                                      Cumulative PS
Infomagic Services Pvt Ltd            Bk Fac                                    Withdrawn
K S Commodities Pvt Ltd               LT/ ST Bk Fac      CARE BB/CARE   300     Reaffirmed
                                                         A4+
Kerala Communications Pvt Ltd         Bk Fac                                    Withdrawn
Krishnapatnam Port Co. Ltd            LT Bk              CARE A         52500   Reaffirmed
                                      FacRefinanced
                                      facility-TL
Krishnapatnam Port Co. Ltd            LT Bk Fac -        CARE A         7986.1  Reaffirmed
                                      External
                                      commercial borrowing
Krishnapatnam Port Co. Ltd            LT Bk Fac - CC     CARE A         2000    Reaffirmed
Krishnapatnam Port Co. Ltd            LT/ST Bk Fac-BGs   CARE A/CARE A1 2000    Reaffirmed
Madhav Alloys Pvt Ltd                 LT Bk Fac          CARE A-        818.4   Revised from
                                                                                CARE BBB+
Madhav Cotton Pvt Ltd                 LT Bk Fac          CARE B+        56.8    Reaffirmed
Madhya Bharat Agro Products Ltd       LT Bk Fac          CARE BBB       416     Reaffirmed
Magnolia Hospitality Pvt Ltd          LT Bk Fac          CARE BBB-      112.3   Reaffirmed
Mahanagar Telephone Nigam Ltd         NCDs-I             CARE AAA (SO)  29800   Reaffirmed
Mahanagar Telephone Nigam Ltd         NCDs-II            CARE AAA (SO)  7650    Reaffirmed
Mahanagar Telephone Nigam Ltd         NCDs-III           CARE AAA (SO)  37689.7 Reaffirmed
Maxima Traders Bhopal Pvt Ltd         LT Bk Fac          CARE BBB-      230     Reaffirmed
Mechemco Industries                   LT Bk Fac          CARE BB+       63.5    Reaffirmed
Million Traders Bhopal Pvt Ltd        LT Bk Fac          CARE BBB-      160     Reaffirmed
N & N Constructions                   LT Bk Fac          CARE D         122.5   Revised from
                                                                                CARE BB-
Nagarjuna Agrichem Ltd                LT Bk Fac          CARE BBB+      1407.8  Reaffirmed
Natural Storage Solutions Pvt Ltd     LT/ ST Bk Fac      CARE BBB-/CARE 120     Reaffirmed
                                                         A3
Navayuga Udupi Tollway Pvt Ltd        LT Bk Fac          CARE BB+       4684.6  Reaffirmed
Nsl Wind Power Company (Satara) Pvt Ltd LT Bk Fac - TL   CARE BBB       1850    Reaffirmed
Nsl Wind Power Company (Satara) Pvt Ltd LT Bk Fac -                             Withdrawn
                                      External
                                      Commercial Borrowings
Optival Health Solutions Pvt Ltd      LT Bk Fac          CARE BBB-      1050    Reaffirmed
Prudhvi Infra Projects Pvt Ltd        LT Bk Fac          CARE B+        205     Assigned
Pune Sholapur Road Development Co. LtdLT Bk Fac          CARE BBB       8866.5  Reaffirmed
Punjab Cybernet Pvt Ltd               Bk Fac                                    Withdrawn
Racl Geartech Ltd                     LT Bk Fac          CARE BBB       471.7   Reaffirmed
Rishi Fibc Solutions Pvt Ltd          LT Bk Fac          CARE A         783.1   Revised from
                                                                                CARE A-
Shiva Texyarn Ltd On 'Credit Watch'   LT Bk Fac          CARE BBB       2053.8  Placed on
                                                                                Credit Watch
Shiva Texyarn Ltd On 'Credit Watch'   Long/ ST Bk Fac    CARE BBB/CARE  650     Placed on
                                                         A3+                    Credit Watch
Shri Balaji Industrial Products Ltd   LT Bk Fac          CARE BBB       447.1   Reaffirmed
Shri Balaji Industrial Products Ltd   LT/ST Bk Fac       CARE BBB/CARE  610     Reaffirmed
                                                         A3+
Shri Maa Marketing Pvt Ltd            Bk Fac                                    Suspended
Smilax Laboratories Ltd               LT Bk Fac          CARE BBB-      1280.8  Reaffirmed
Smilax Laboratories Ltd               LT / ST Bk Fac     CARE BBB-      50      Reaffirmed
                                                         /CARE A3
Soma Isolux Kishangarh-Beawar Tollway LT Bk Fac          CARE BB-       12169.6 Revised from
Ltd                                                                             B+
Sree Rani Sati Overseas Pvt Ltd       LT Bk Fac          CARE B         100     Reaffirmed
Sri Shakthi Refineries Pvt Ltd        LT Bk Fac          CARE BB-       100     Withdrawn
Stamlo Hotels Ltd                     LT Bk Fac          CARE A-        80      Revised from
                                                                                CARE BBB+
Stamlo Hotels Ltd                     Long/ST Bk Fac     CARE A-/CARE   85      Revised from
                                                         A2+                    CARE BBB+ /
                                                                                CARE A3+
State Bank Of Hyderabad               Lower Tier II BondsCARE AAA       1600    Reaffirmed
State Bank Of Hyderabad               Upper Tier II BondsCARE AAA       17500   Reaffirmed
State Bank Of Hyderabad               Perpetual Bonds    CARE AAA       6850    Reaffirmed
State Bank Of Hyderabad               Tier II Bonds      CARE AAA       7000    Reaffirmed
                                      (Basel III)
State Bank Of Hyderabad               Lower Tier II                             Withdrawn
                                      Bonds*
* Since SBH has fully repaid the bond issue, the rating for the same has been withdrawn
Surat Hazira Nh-6 Tollway Pvtltd      LT Bk Fac          CARE B         24000   Assigned
The Byke Hospitality Ltd              LT Bk Fac          CARE A-        94.4    Revised from
                                                                                CARE BBB
Uttar Pradesh Network Pvt Ltd         Bk Fac                                    Withdrawn
Vijayalakshmi Spintex Ltd             LT Bk Fac          CARE BB-       243.9   Assigned
Vijayalakshmi Spintex Ltd             Long /ST Bk Fac    CARE BB-/CARE  15      Assigned
                                                         A4
--------------------------------------------------------------------------------------------
$: 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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