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CARE ratings for Indian debt instruments-Jan 13
January 13, 2017 / 9:27 AM / a year ago

CARE ratings for Indian debt instruments-Jan 13

Jan 13 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 12, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aradhan Chemtech                      ST Bk Fac          CARE A4        10      Reaffirmed
Chetak Enterprises Ltd                ST Bk Fac          CARE A1+       20      Reaffirmed
Chetak Enterprises Ltd                CP (CP) (carved    CARE A1+       450     Assigned
                                      out of fund based
                                      working capital limits)
Classical Natural Stones              ST Bk Fac          CARE A4        88.5    Reaffirmed
Emami Agrotech Ltd (Formerly Emami    ST Bk Fac          CARE A3+       36655   Reaffirmed
Biotech Ltd)
Feedback Energy Distribution Co. Ltd  ST Bk Fac@         CARE A3 (SO)   420     Assigned
@ The ratings are based on the credit enhancement in the form of corporate guarantee
 from Feedback Infra Private Limited (rated 'CARE BBB-; Stable' / 'CARE A3').
Feedback Infra Pvt Ltd                ST Bk Fac          CARE A3        250     Reaffirmed
Greenply Industries Ltd               ST Bk Fac          CARE A1+       3050    Reaffirmed
Gvk Industries Ltd                    ST Bk Fac          CARE D         196     Reaffirmed
Greenply Industries Ltd               ST Debt (incl. CP  CARE A1+       250     Reaffirmed
                                      )*
*carved out of the sanctioned working capital limits
Holdwell Components Pvt. Ltd.         ST Bk Fac          CARE A4+       45      Reaffirmed
Jade Blue Lifestyle India Ltd         ST Bk Fac          CARE A2        70      Assigned
Jai Bharat Gum And Chemicals Ltd      ST Bk Fac          CARE A2+       610     Reaffirmed
Jms Mining Services Pvt Ltd           ST Bk Fac          CARE A1+       150     Reaffirmed
Kunstocom India Ltd                   ST Bk Fac          CARE A3        60      Reaffirmed
Sarda Energy & Minerals Ltd           Proposed CP (CP)   CARE A1        500     Assigned
                                      issue*
Shivangi Metal Industries Pvt Ltd     ST Bk Fac          CARE A4        215     Reaffirmed
Shri Girija Smelters Ltd              ST Bk Fac          CARE A4        230     Reaffirmed
Siepmanns Card Systems Pvt Ltd        ST Bk Fac          CARE A3        100     Reaffirmed
Softel Overseas Pvt Ltd               ST Bk Fac          CARE A4        100     Reaffirmed
Topcem India                          ST Bk Fac          CARE A1 (SO)   159     Reaffirmed
Verdant Life Sciences Pvt Ltd         LT/ST Bk Fac       CARE A4+       12      Revised from
                                                                                CARE A4
Viraj Profiles Ltd                    ST Bk Fac          CARE A2        37830   Continues to
                                                                                be on Credit
                                                                                Watch with
                                                                                Negative 
                                                                                Implications
Vishnu Chemicals Ltd                  ST Bk Fac          CARE A3        1143.5  Reaffirmed
Vkl Seasoning Pvt Ltd                 ST Bk Fac          CARE A3+       40      Reaffirmed
(enhanced from Rs.3.00 Crore)


LONG TERM RATINGS:
-------------------
3F Oil Palm Agrotech Pvt Ltd          LT Bk Fac          CARE BBB       210.2   Reaffirmed
Aradhan Chemtech                      LT Bk Fac          CARE BB-       60      Reaffirmed
Bridge Track And Tower Pvt. Ltd       LT Bk Facilitie    CARE BBB-      249.1   Reaffirmed
Bridge Track And Tower Pvt. Ltd       Long/ST Bk Fac     CARE BBB-      190     Reaffirmed
                                                         /CARE A3
Chetak Enterprises Ltd                Proposed LT NCD    CARE A+        450     Assigned
                                      (NCD)
Chetak Enterprises Ltd                LT/ST Bk Fac       CARE A+ /CARE  3000    Reaffirmed
                                                         A1+
Chetak Enterprises Ltd                LT Bk Fac          CARE A+;       3516.9  Reaffirmed
(enhanced from 305.43crs)
Classical Natural Stones              LT Bk Fac          CARE B+        32      Reaffirmed
Dhanda Breeding Farm Pvt Ltd          LT Bk Facilitie    CARE B+        66.4    Assigned
Emami Agrotech Ltd (Formerly Emami    LT Bk Facilitie    CARE BBB+      5106    Revised from
Biotech Ltd)                                                                    CARE BBB
Feedback Brisa Highways Omt Pvt Ltd   LT Bk Fac@         CARE BBB-(SO)  110     Assigned
@ The ratings are based on the credit enhancement in the form of corporate guarantee
 from Feedback Infra Private Limited (rated 'CARE BBB-; Stable' / 'CARE A3'). 
Feedback Brisa Highways Omt Pvt Ltd   LT/ ST Bk Fac@     CARE BBB-(SO)  200     Assigned
                                                         /CARE A3 (SO)
Feedback Energy Distribution Co. Ltd  LT Bk Fac@         CARE BBB-(SO)  608.1   Assigned
@ The ratings are based on the credit enhancement in the form of corporate guarantee
 from Feedback Infra Private Limited (rated 'CARE BBB-; Stable' / 'CARE A3'). 
Feedback Energy Distribution Co. Ltd  Proposed NCD issue#CARE BBB-(SO)  500     Assigned
# The rating is based on the proposed credit enhancement in the form of unconditional
 and irrevocable corporate guarantee from Feedback Infra Private Limited
 (rated 'CARE BBB-; Stable' / 'CARE A3').
Feedback Energy Distribution Co. Ltd  LT/ ST Bk Fac@     CARE BBB-(SO)  140     Assigned
                                                         /CARE A3 (SO)
Feedback Infra Pvt Ltd                LT Bk Fac          CARE BBB-      700     Reaffirmed
Feedback Infra Pvt Ltd                LT/ST Bk Fac       CARE BBB-      1300    Reaffirmed
                                                         /CARE A3
Greenply Industries Ltd               LT Bk Fac          CARE AA-       4150.5  Reaffirmed
Gvk Gautami Power Ltd                 LT Bk Fac          CARE D         10097.5 Reaffirmed
Gvk Industries Ltd                    LT Bk Fac          CARE D         5200.7  Reaffirmed
Manipal Housing Finance Syndicate Ltd Fixed Deposits     CARE BBB+ 120     Reaffirmed
                                      Programme
Hindustan Gum & Chemicals Ltd         Long/ST Bk Fac     CARE A+ /CARE  2115    Reaffirmed
                                                         A1+
Holdwell Components Pvt. Ltd.         LT Bk Facilitie    CARE BB+       100     Reaffirmed
J. M. Hosiery & Co. Ltd.              LT Bk Fac          CARE A-        850     Reaffirmed
J.K.Sagar Developers                  LT Bk Facilitie    CARE B+        99      Assigned
Jade Blue Lifestyle India Ltd         LT Bk Fac          CARE A-        774.8   Assigned
Jai Bharat Gum And Chemicals Ltd      LT Bk Fac          CARE BBB+      10      Reaffirmed
Jms Mining Services Pvt Ltd           LT Bk Facilitie    CARE A+        2600    Reaffirmed
Jms Mining Services Pvt Ltd           Long/ST Bk Fac     CARE A+/CARE   4850    Reaffirmed
                                                         A1+
Kaveri Ginning Industries Pvt Ltd     LT Bk Facilitie    CARE BB-       194.8   Revised from
                                                                                CARE B+
Khedut Cotex Pvt Ltd                  LT Bk Fac          CARE B+        84      Assigned
Kontinental Steel And Power Ltd.      LT Bk Facilitie    CARE BBB       50      Reaffirmed
Kontinental Steel And Power Ltd.      Long/ST Bk Fac     CARE BBB /CARE 130     Reaffirmed
                                                         A3+
Kunstocom India Ltd                   LT Bk Fac          CARE BBB-      286.7   Reaffirmed
Manipal Housing Finance Syndicate Ltd LT Bk Fac          CARE BBB+      2660.3  Reaffirmed
Parmarth Wind Energy Pvt Ltd          LT Bk Fac          CARE BBB+      366.3   Reaffirmed
Parry Enterprises India Ltd           LT Bk Fac          CARE A-        816     Reaffirmed
Parry Enterprises India Ltd           CP Issue                                  Withdrawn
Poonia Wines (Rewari)                 LT Bk Fac          CARE BB-       150     Reaffirmed
R. K. Marble Pvt Ltd                  LT Bk Fac          CARE A+        1900    Reaffirmed
R. K. Marble Pvt Ltd                  LT / ST Bk Fac     CARE A+ /CARE  1350    Reaffirmed
                                                         A1+
Rajarambapu Patil Sahakari Sakhar     LT Bk Fac          CARE BB-       5000    Reaffirmed
Karkhana Ltd
Rjp Infrastructure Pvt Ltd            LT Bk Fac          CARE BBB       50      Reaffirmed
Rjp Infrastructure Pvt Ltd            LT / ST Bk Fac     CARE BBB/CARE  550     Reaffirmed
                                                         A3+
Shivangi Metal Industries Pvt Ltd     LT Bk Fac          CARE BB-       150     Reaffirmed
Shri Girija Smelters Ltd              LT Bk Fac          CARE B+        40      Reaffirmed
Siepmanns Card Systems Pvt Ltd        LT Bk Fac          CARE BBB-      43.6    Reaffirmed
(Enhanced from 1.91crs)
Siepmanns Card Systems Pvt Ltd        Long/Shortterm Bk  CARE BBB-      189.8   Reaffirmed
                                      Fac                /CARE A3
(Enhanced from 17.00crs)
Sms-Aabs India Tollways Pvt Ltd       LT Bk Facilitie    CARE A-        500     Revised from
                                                                                CARE BBB+
Sms-Aabs India Tollways Pvt Ltd       Long/ST Bk Fac     CARE A- /CARE  432     Revised from
                                                         A2+                    CARE BBB+ /
                                                                                CARE A2
Topcem India                          LT Bk Fac          CARE A (SO)    340     Reaffirmed
Verdant Life Sciences Pvt Ltd         LT Bk Fac          CARE BB+       268.7   Revised from
                                                                                CARE BB-
Viraj Profiles Ltd                    LT Bk Facilitie    CARE BBB+      7876.3  Continues to
                                                                                be on Credit
                                                                                Watch with 
                                                                                Negative
                                                                                Implications
Vishnu Chemicals Ltd                  LT Bk Fac          CARE BBB-      2271.2  Reaffirmed
(enhanced from 156.82 crs)
Vkl Seasoning Pvt Ltd                 LT Bk Fac          CARE BBB       340     Reaffirmed
(enhanced from Rs.15.00 Crore)
Vkl Seasoning Pvt Ltd                 LT Bk Fac          CARE BBB       467.4   Reaffirmed
(enhanced from Rs.32.57 Crore)
Zaveri And Company Pvt Ltd            LT / ST Bk Fac     CARE A-        300     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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