February 7, 2017 / 4:39 AM / 10 months ago

CARE ratings for Indian debt instruments-Feb 7

Feb 7 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 6, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A H Mallick Agro Services & Cold      ST Bk Fac          CARE A4        2.6     Reaffirmed
Storage Pvt Ltd
Ahitri Spinning Mills Pvt Ltd         ST Bk Fac          CARE A4        13.5    Assigned
Allied Engineers                      ST Bk Fac          CARE A4        50      Assigned

Art And Craft Exclusives              ST Bk Fac          CARE A4        100     Reaffirmed
Ashok Leyland Ltd                     CP                 CARE A1+       6000    Reaffirmed
Bodal Chemicals Ltd                   Short -Term Bk Fac CARE A1        850     Revised from
                                                                                CARE A2+
Consolidated Construction Consortium  ST Bk Fac          CARE D         7473.8  Reaffirmed
Esscon Infratech Pvt Ltd              ST Bk Fac          CARE A3        170     Reaffirmed
Export-Import Bank Of India           ST CP Program (CP) CARE A1+       153972.5Reaffirmed
Idea Cellular Ltd                     CP (CP) Issue*     CARE A1+       20000   #
*Nil outstanding as on January 31, 2017
Iol Chemicals And Pharmaceuticals Ltd ST Bk Fac          CARE A4        1369.9  Reaffirmed
Kopalle Pharma Chemicals Pvt Ltd      ST Bk Fac          CARE A4        97.5    Reaffirmed
Kudu Industries Ltd                   ST Bk Fac          CARE A4        3.7     Reaffirmed
Lloyds Line Pipes Ltd                 CP (CP) Programme* CARE A1+       1000    Assigned
* carved out of the sanctioned working capital limits of the company
Lords Infracon Pvt Ltd                ST Bk Fac          CARE A4        800     Assigned
Maruti Spintex Pvt Ltd                ST Bk Fac          CARE A4        29.3    Assigned
Mittal Filaments Pvt Ltd              ST Bk Fac          CARE A4        2.5     Reaffirmed
Munish Forge Pvt Ltd                  ST Bk Fac          CARE A4+       200     Assigned
Network18 Media & Investments Ltd     CP (Standalone     CARE A1+       10000   Assigned
Pace Process Controls Pvt Ltd         ST Bk Fac          CARE A4        90      Assigned
Shree Rama Newsprint Ltd              ST Bk Fac          CARE A4        900     Suspension
                                                                                Revoked;
                                                                                Revised from
CARE D
Shree Rama Newsprint Ltd              ST Bk Fac          CARE D         57.5    Assigned
Unique Green Energy Technologies Pvt LST Bk Fac@         CARE A2+       117.4   Assigned
@ backed by the unconditional and irrevocable corporate guarantee provided by Shirdi Sai
Electricals Limited (rated 'CARE A; Stable/CARE A2+')
Virgo Laminates Ltd                   ST Bk Fac          CARE A2+       47.5    Reaffirmed

LONG TERM RATINGS:
-------------------
A H Mallick Agro Services & Cold      LT Bk Fac          CARE B         85.6    Reaffirmed
Storage Pvt Ltd
Ace Finlease Pvt Ltd                  LT Bk Fac          CARE BB+       200     Reaffirmed
Ace Finlease Pvt Ltd                  Issuer Rating      CARE BB+       -       Reaffirmed
Ahitri Spinning Mills Pvt Ltd         LT Bk Fac          CARE B+        190     Assigned
Allied Engineers                      LT Bk Fac          CARE B+        50      Assigned
Amol Pharmaceuticals Pvt Ltd          LT Bk Fac          CARE BBB-      100     Assigned
Amol Pharmaceuticals Pvt Ltd          LT/ST Bk Fac       CARE BBB-      220     Assigned
                                                         /CARE A3
Art And Craft Exclusives              LT/Short -term Bk  CARE BB- /CARE 50      Reaffirmed
                                      Fac                A4
Ashok Leyland Ltd                     Long/ ST Bk Fac    CARE AA /CARE  21000   Revised from
                                                         A1+                    CARE AA-/
                                                                                CARE A1+
Bhoomidhan Cold Storage               LT Bk Fac          CARE B+        65.4    Assigned
Bodal Chemicals Ltd                   Long- Term Bk Fac  CARE A         770     Revised from
                                                                                CARE A-
Calyx Estate                          LT Bk Fac          CARE BBB       150     Reaffirmed
Consolidated Construction Consortium LLT Bk Fac          CARE D         11982.7 Reaffirmed
Crux Biotech India Pvt Ltd            LT Bk Fac          CARE BB-       566.9   Assigned
Esscon Infratech Pvt Ltd              LT Bk Fac          CARE BBB-      35      Reaffirmed
Export-Import Bank Of India           LT Bk Borrowing    CARE AAA       30000   Reaffirmed
                                      Program
Export-Import Bank Of India           CD Program (CD)^   CARE AAA       153972.5Reaffirmed
^interchangeable long term / short term limit
Federal Bank Ltd                      Lower Tier II bonds-              -       Withdrawn
Gopi Texfab Pvt Ltd                   LT / ST Bk Fac     CARE B+ /CARE  55      Reaffirmed
                                                         A4
Gourav Poultries India Pvt Ltd        LT Bk Fac          CARE B-        150     Assigned
Idea Cellular Ltd                     LT Bk Fac          CARE AA+       164270  #
Idea Cellular Ltd                     NCD (NCD) issue ^  CARE AA+       80000@  #
^ Outstanding amount of Rs.5,896 crore as on January 31, 2017 @ Enhanced from Rs.6,500 crore
Iol Chemicals And Pharmaceuticals Ltd LT Bk Fac          CARE BB        4485.1  Revised from
                                                                                CARE BB-
Kashtbhanjan Ginning And Oil IndustrieLT Bk Fac          CARE B+        42.9    Reaffirmed
Keshari Industries Ltd                LT Bk Fac          CARE B+        18.6    Reaffirmed
Keshari Industries Ltd                LT/ ST Bk Fac      CARE B+/A4     50      Reaffirmed
Kopalle Pharma Chemicals Pvt Ltd      LT Bk Fac          CARE BB        150     Reaffirmed
Ksh Distriparks Pvt Ltd               LT Bk Fac          CARE BBB-      976.6   Reaffirmed
Kudu Industries Ltd                   LT Bk Fac          CARE BB        121.6   Reaffirmed
Lords Infracon Pvt Ltd                LT Bk Fac          CARE B         10      Assigned
Madhav Textiles                       LT/ST Bk Fac       CARE BB-/CARE  70      Revised from
                                                         A4                     CARE BB/CARE
                                                                                A4
Magma Housing Finance                 LT Bk Fac          CARE AA-       11170   Reaffirmed
Magma Housing Finance                 Secured NCD issue  CARE AA-       400     Reaffirmed
                                      (Series II) -
                                      Tranche II
Magma Housing Finance                 Secured NCD issue  CARE AA-       350     Reaffirmed
                                      (Series III) -
                                      Tranche I
Magma Housing Finance                 Secured NCD issue  CARE AA-       200     Reaffirmed
                                      (Series III) -
                                      Tranche II
Magma Housing Finance                 Secured NCD issue  CARE AA-       100     Reaffirmed
                                      (Series III) -
                                      Tranche III
Magma Housing Finance                 Proposed Secured   CARE AA-       350     Reaffirmed
                                      NCD issue (Series
                                      III) - Tranche IV
Maharashtra State Electricity         Proposed LT Bk Fac CARE A         10000   Reaffirmed
Transmission Co. Ltd
Maruti Spintex Pvt Ltd                LT Bk Fac          CARE BB-       244.2   Assigned
Mirus Infratech Pvt Ltd               LT Bk Fac          CARE B+        75      Assigned
Mittal Dewellers Pvt Ltd              LT Bk Fac          CARE BB-       600     Assigned
Mittal Filaments Pvt Ltd              LT Bk Fac          CARE BB-       109     Reaffirmed
Munish Forge Pvt Ltd                  LT Bk Fac          CARE BB+       300     Assigned
Network18 Media & Investments Ltd     Long/ST Bk Fac     CARE AAA       10000   Assigned
                                                         /CARE A1+
Pace Process Controls Pvt Ltd         LT Bk Fac          CARE BB        7       Assigned
Paramesu Biotech Pvt Ltd              LT Bk Fac          CARE BB-       521.6   Assigned
Paras Dyeing And Printing Mills       LT Bk Fac          CARE B+        90      Assigned
Parasram Mannulal Dall Mills Pvt Ltd  LT Bk Fac          CARE B+        50      Reaffirmed
Savitridevi Industries Ltd            LT Bk Fac          CARE B         83.6    Revised from
                                                                                CARE B+
Seguro Foundations And Structures Pvt LT Bk Fac          CARE BB+       300     Reaffirmed
Ltd
Seguro Foundations And Structures Pvt LT/ ST Bk Fac      CARE BB+ /CARE 200     Reaffirmed
Ltd                                                      A4+
Shree Rama Newsprint Ltd              LT Bk Fac          CARE BB-       1769.75 Suspension
                                                                                Revoked;
                                                                                Revised from
CARE D
Shree Rama Newsprint Ltd              LT Bk Fac #        CARE BBB       230     Suspension
                                                                                Revoked
# backed by the unconditional, irrevocable and continuing corporate guarantee of Riddhi Siddhi
Gluco Biols Limited
Smt. Shakuntla Educational And WelfareLT Bk Fac          CARE D         1943.2  Assigned
Society
Smt. Shakuntla Educational And WelfareST Bk Fac          CARE D         500     Assigned
Society
Soni Traders                          LT Bk Fac          CARE BB+       600     Assigned
Starke Rocksand Llp                   LT Bk Fac          CARE B+        70      Assigned
Sun Shine Rice Unit                   LT Bk Fac          CARE B+        162.5   Reaffirmed
Swagat Housing Finance Co. Ltd        LT Bk Fac          CARE BB        100     Reaffirmed
Unique Green Energy Technologies Pvt  LT Bk Fac@         CARE A         88.6    Revised from
                                                                                CARE A-
@ backed by the unconditional and irrevocable corporate guarantee provided by Shirdi Sai
Electricals Limited (rated 'CARE A; Stable/CARE A2+')
Virgo Industries                      LT/Short -term Bk  CARE A-/CARE   380     Reaffirmed
                                      Fac                A2+
Virgo Laminates Ltd                   LT Bk Fac          CARE A-        45      Reaffirmed


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