Reuters logo
CARE ratings for Indian debt instruments-Dec 26
December 26, 2016 / 6:02 AM / a year ago

CARE ratings for Indian debt instruments-Dec 26

Dec 26 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 23, 2016.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Cossmo Tex                            ST Bk Fac          CARE A4        37.5    Assigned
Delphi-Tvs Diesel Systems Ltd         ST Bk Fac          CARE A1        1500    Reaffirmed
Delphi-Tvs Diesel Systems Ltd         CP*                CARE A1        250     Reaffirmed
*Carved out of the sanctioned working capital limits of the company

Essar Oil Ltd                         ST Bk Fac-         CARE A1        105000  Positive
                                      Non-fundbased                             implications
Reduced from 16,000 CR
Feedback Infra Pvt Ltd                ST Bk Fac          CARE A3        250     Assigned
Gaurav Aircon Computers Pvt Ltd       ST Bk Fac          CARE A4        2       Reaffirmed
Reduced form 1.10 CR
Grg Cotspin Pvt Ltd                   ST Bk Fac          CARE A3+       560     Assigned
Gtv Engineering Ltd                   ST Bk Fac          CARE A4+       140     Assigned
Hmt Ltd                               Non-FB- STLC /BG   CARE A4        112.5   Developing
                                                                                Implications
Indore Composite Pvt Ltd              ST Bk Fac          CARE A3+       120.8   Revised from
                                                                                CARE A3
Nutech Appliances                     ST Bk Fac          CARE A4        30      Assigned
Ongc Tripura Power Co. Ltd            ST Bk Fac          CARE A1+       8470    Reaffirmed
Oriilon India Pvt Ltd                 ST Bk Fac          CARE A4        8.5     Reaffirmed
Pavathal Spinning Mills Pvt Ltd       ST Bk Fac          CARE A4+       5       Reaffirmed
Rushil Decor Ltd                      ST Bk Fac          CARE A3+       330     Reaffirmed
Satyam Suitings Pvt Ltd               ST Bk Fac          CARE A4        5       Reaffirmed
Servewell House Hold Appliances       ST Bk Fac          CARE A3        45      Assigned
Shakti Yarn Pvt Ltd                   ST Bk Fac          CARE A4+       60      Assigned
Stylo Tablewares                      ST Bk Fac          CARE A3        75      Assigned
Syndicate Bank                        CD                 CARE A1+       200000  Reaffirmed

LONG TERM RATINGS:
-------------------
Adie Broswon Sugars & Industries Pvt LBk Fac             --             --      Suspended
Agl Polyfil Pvt Ltd                   LT Bk Fac          CARE B+        137.5   Revised from
                                                                                CARE BB-
reduced from 16.06 CR
Alp Non Woven Pvt Ltd                 LT Bk Fac          CARE D         64.1    Assigned
Amw Motors Ltd                        Bk Fac             --             --      Suspended
Arunachala Spinning Mills India Pvt LtLT Bk Fac          CARE B+        112.5   Reaffirmed
Arunachala Spinning Mills India Pvt LtBk Fac             CARE B+ /A3    20      Reaffirmed
Asrec (India) Ltd                     LT Bk Fac          CARE BBB+      1000    Reaffirmed
Baba Hi-Tech Pvt Ltd                  LT Bk Fac          CARE BB-       93.6    Reaffirmed
reduced from 10.09 CR
Cable Corporation Of India Ltd        Bk Fac             --             --      Suspended
Chandra Nirman Pvt Ltd                Bk Fac             --             --      Suspended
Corporation Bank                      Upper Tier II      CARE A+        3000    Reaffirmed
                                      Bonds-Series I
Corporation Bank                      Upper Tier II      CARE A+        7000    Reaffirmed
                                      Bonds-Series II
Corporation Bank                      Upper Tier II      CARE A+        5000    Reaffirmed
                                      Bonds-Series III
Corporation Bank                      Upper Tier II      CARE A+        5000    Reaffirmed
                                      Bonds-Series IV
Corporation Bank                      Upper Tier II      CARE A+        3000    Reaffirmed
                                      Bonds-Series VI
Corporation Bank                      Upper Tier II      CARE A+        5500    Reaffirmed
                                      Bonds-Series VII
Corporation Bank                      Perpetual Bonds    CARE A+        2375    Reaffirmed
                                      -Series I
Corporation Bank                      Perpetual Bonds    CARE A+        3000    Reaffirmed
                                      -Series II
Corporation Bank                      Perpetual Bonds    CARE A+        1000    Reaffirmed
                                      -Series III
Corporation Bank                      Perpetual Bonds    CARE A+        1000    Reaffirmed
                                      -Series IV
Corporation Bank                      Lower Tier II      CARE AA-       5000    Reaffirmed
                                      Bonds (Series IV)
Cossmo Tex                            LT Bk Fac          CARE BB        14.4    Assigned
Delphi-Tvs Diesel Systems Ltd         LT Bk Fac          CARE A         4753.2  Reaffirmed
Delphi-Tvs Diesel Systems Ltd         Bk Fac             CARE A /A1     50      Reaffirmed
Dindayal Industries Ltd               LT Bk Fac          CARE B+        60      Assigned
Dirgh Diamond Pvt Ltd                 Bk Fac             --             --      Suspended
Dushmanta Giri                        LT Bk Fac          CARE BB        65      Reaffirmed
Ecoren Energy India Pvt Ltd           LT Bk Fac          --             --      Withdrawn
Ecoren Energy India Pvt Ltd           Bk Fac             CARE BBB- /A3  64.3    Revised from
                                                                                CARE A4
enhanced from 2.50 CR
Essar Oil Ltd                         LT Bk Fac          CARE A         231710  Positive
                                                                                implications
Enhanced from 19,850 CR
Feedback Infra Pvt Ltd                LT Bk Fac          CARE BBB-      700     Assigned
Feedback Infra Pvt Ltd                Bk Fac             CARE BBB- /A3  1150    Assigned
Gaurav Aircon Computers Pvt Ltd       LT Bk Fac          CARE BB        71      Reaffirmed
enhanced from 6.20 CR
General Security & Information ServiceBk Fac             --             --      Suspended
Pvt. Ltd.
Grg Cotspin Pvt Ltd                   LT Bk Fac          CARE BBB+      2116.5  Revised from
                                                                                CARE BBB
Gtv Engineering Ltd                   LT Bk Fac          CARE BB+       50      Assigned
Guinea Motors Pvt Ltd                 LT Bk Fac          CARE BB-       100     Revised from
                                                                                CARE B
reduced from 15.00 CR
Gurdaspur Sugar Pvt Ltd               Bk Fac             --             --      Suspended
H.P. Cotton Casuals Pvt. Ltd.         LT Bk Fac          CARE BB        334.7   Reaffirmed
reduced from 35.43 CR
H.P. Cotton Casuals Pvt. Ltd.         Bk Fac             CARE BB /A3    18.3    Reaffirmed
reduced from 2 CR
Hari Bhoomi Communications Pvt Ltd    LT Bk Fac          CARE BBB       137     Reaffirmed
Reduced from 15 CR
Hmt Ltd                               FB-LT-CC           CARE B-        445.6   Developing
                                                                                Implications
Imac India Coach Builders Pvt Ltd     Bk Fac             --             --      Suspended
Indore Composite Pvt Ltd              LT Bk Fac          CARE BBB+      161.6   Revised from
                                                                                CARE BBB-
Indus Ferro Tech Ltd                  LT Bk Fac*         CARE BB+ (SO)  178.1   Assigned
*backed by corporate guarantee extended by Ghatge Patil Industries Limited (GPIL; rated CARE
BB+/Negative/CARE A4+ ).
Jibika Rice Mill Pvt. Ltd.            Bk Fac             --             --      Suspended
Kankani Enterprises Pvt Ltd           LT Bk Fac          CARE B+        87.5    Assigned
Kms Coach Builders Pvt Ltd            Bk Fac             --             --      Suspended
Lulu Cyber Park Pvt Ltd               Bk Fac             --             --      Withdrawn
Maa Ganga Rice Mill                   Bk Fac             --             --      Suspended
Maharaja Resources Pvt. Ltd           Bk Fac             --             --      Suspended
Mahavir Rice Mills                    Bk Fac             --             --      Suspended
Nainani Medico                        LT Bk Fac          CARE BB        82.5    Reaffirmed
Nekkanti Sea Foods Ltd                Bk Fac             --             --      Suspended
Nsl Tidong Power Generation Pvt Ltd   Bk Fac             --             --      Suspended
Nutech Appliances                     LT Bk Fac          CARE B+        37.7    Assigned
Ongc Tripura Power Co. Ltd            LT Bk Fac          CARE AA-       29764.4 Revised from
                                                                                CARE A+
Reduced from 3,138 CR
Oriilon India Pvt Ltd                 LT Bk Fac          CARE BB-       202.8   Revised from
                                                                                CARE B+
Oriilon India Pvt Ltd                 Bk Fac             CARE BB- /A4   150     Revised from
                                                                                CARE B+/ A4
P. Venkat Reddy                       LT Bk Fac          CARE BB        60      Assigned
Pavathal Spinning Mills Pvt Ltd       LT Bk Fac          CARE BB+       115     Reaffirmed
reduced from 12.09 CR
Penna Cement Industries Ltd           Bk Fac             --             --      Suspended
Pochiraju Industries Ltd              Bk Fac             --             --      Suspended
Prateek Apparels Pvt Ltd              Bk Fac             --             --      Suspended
Rushil Decor Ltd                      LT Bk Fac          CARE BBB+      874.3   Reaffirmed
Samarpan Synthetics Pvt Ltd           LT Bk Fac          CARE BB-       323     Reaffirmed
Satyam Suitings Pvt Ltd               LT Bk Fac          CARE B+        63.3    Reaffirmed
Reduced from 5.55 CR
Servewell House Hold Appliances       Bk Fac             CARE BBB- /A3  45      Assigned
Shakti Yarn Pvt Ltd                   LT Bk Fac          CARE BB+       250     Reaffirmed
Enhanced from 18 CR
Shree Sai Organic Foods Pvt Ltd       LT Bk Fac          CARE BB-       103.5   Revised from
                                                                                CARE B+
reduced from 10.78 CR
Solaimalai Enterprises                Bk Fac             --             --      Suspended
State Bank Of Mysore                  Upper Tier II BondsCARE AAA       6400    Reaffirmed
State Bank Of Mysore                  Perpetual Bonds    CARE AAA       2600    Reaffirmed
State Bank Of Mysore                  Basel III Tier II  CARE AAA       5000    Reaffirmed
                                      Bonds
Stylo Tablewares                      Bk Fac             CARE BBB- /A3  25      Assigned
Swastik Polytex Pvt Ltd               LT Bk Fac          CARE BB-       54.2    Reaffirmed
Syndicate Bank                        Upper Tier II BondsCARE AA        8197    Reaffirmed
Syndicate Bank                        Perpetual Bonds    CARE AA        7730    Reaffirmed
Syndicate Bank                        Basel III          CARE AA-       28000   Reaffirmed
                                      Additional Tier I
                                      Bonds
Syndicate Bank                        Lower Tier II BondsCARE AA+       15000   Reaffirmed
Syndicate Bank                        Basel III Tier II  CARE AA+       48500   Reaffirmed
                                      Bonds
Tangnu Romai Power Generation Pvt Ltd Bk Fac             --             --      Suspended
Thakurdas Lotwala                     LT Bk Fac          CARE B+        75      Assigned
Ultra Readymix Concrete Pvt Ltd       Bk Fac             --             --      Withdrawn
Umesh Industries Pvt Ltd              LT Bk Fac          CARE B+        91.7    Reaffirmed
Reduced from 9.60 CR
United Machinery & Appliances         Bk Fac             --             --      Suspended
Universal Associates                  LT Bk Fac          CARE D         130     Revised from
                                                                                CARE BB
Universal Associates                  Bk Fac             CARE D         85      Revised from
                                                                                CARE BB /A4+
Vignan'S Foundation For Science,      LT Bk Fac          CARE BBB-      414.7   Reaffirmed
Technology And Research

--------------------------------------------------------------------------------------------
$: 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