January 6, 2017 / 5:24 AM / a year ago

CARE ratings for Indian debt instruments-Jan 6

Jan 6 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 5, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Anand Arc Ltd                         ST Bk Fac          CARE A4        37.5    Reaffirmed
Himadri Speciality Chemical Ltd       ST Bk Fac          CARE A1        4000    Revised from
                                                                                CARE A2+
Himadri Speciality Chemical Ltd       Proposed CP Issue* CARE A1        500     Assigned

*carved out of the sanctioned working capital limits of the company
The State Trading Corporation Of IndiaST Bk Fac          CARE A4+       40000   Revised to
Ltd                                                                             CARE D


LONG TERM RATINGS:
-------------------
Anand Arc Ltd                         LT Bk Fac          CARE BB        150     Reaffirmed
Anushree Sarees Pvt Ltd               LT Bk Fac          CARE BB        100     Reaffirmed
Aurangabad City Water Utility Co. Ltd LT Bk Fac          -              -       Withdrawn
Colour Creation Pvt Ltd               LT Bk Fac          CARE BB        487.9   Revised from
                                                                                CARE BB-
Core Hotel Ventures Pvt Ltd           Debentures-NCD     -              -       Withdrawn
Himadri Speciality Chemical Ltd       LT Bk Fac          CARE A         5869.2  Revised from
                                                                                CARE A-
Himadri Speciality Chemical Ltd       NCDs               CARE A         2500    Revised from
                                                                                CARE A-
Himadri Speciality Chemical Ltd       Long/ST Bk Fac     CARE A/A1      660     Revised from
                                                                                CARE A-/A2+
Hiraco Renewable Energy Pvt Ltd       LT Bk Fac - TL     -              -       Withdrawn
Jaigad Power Transco Ltd.             LT Bk Fac (TL)     CARE A+        2624    Revised to
                                                                                CARE A
Jaigad Power Transco Ltd.             LT Bk Fac CC       CARE A+        150     Revised to
                                                                                CARE A
Madhav Marbles & Granites Ltd         LT Bk Fac          -              -       Withdrawn
Shendra Green Energy Ltd              Fund Based - LT-TL -              -       Withdrawn
Shendra Green Energy Ltd              Fund Based - LT-CC -              -       Withdrawn
Shendra Green Energy Ltd              Non-Fund Based -   -              -       Withdrawn
                                      ST-LOC
The Great Eastern Shipping Co. Ltd    Proposed LT        CARE AAA       5000    Assigned
                                      NonConvertible
                                      Debenture
The Great Eastern Shipping Co. Ltd    Long/ST Bk Fac (BG)CARE AAA       500     Reaffirmed
The Great Eastern Shipping Co. Ltd    LT NCD -1          CARE AAA       4750    Reaffirmed
The Great Eastern Shipping Co. Ltd    LT NCD -2          CARE AAA       2000    Reaffirmed
The Great Eastern Shipping Co. Ltd    LT NCD -3          CARE AAA       4600    Reaffirmed
The Great Eastern Shipping Co. Ltd    LT NCD -4          CARE AAA       5000    Reaffirmed
The Great Eastern Shipping Co. Ltd    LT NCD -5          CARE AAA       5000    Reaffirmed
The Great Eastern Shipping Co. Ltd    LT NCD -6          CARE AAA       4000    Reaffirmed
The State Trading Corporation Of IndiaLT Bk Fac          CARE BB+       20000   Revised to
Ltd                                                                             CARE D
Velox Ceramic                         LT Bk Fac          CARE B+        74.6    Revised from
                                                                                CARE B
Velox Ceramic                         LT Bk Fac          CARE B+/CARE A417.5    Revised from
                                      /Shortterm Bk Fac                         CARE B / CARE
                                                                                A4
West Inn Ltd                          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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