February 15, 2017 / 5:45 AM / 10 months ago

CARE ratings for Indian debt instruments-Feb 15

    Feb 15 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 14, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Balasore Alloys Ltd                   ST Bk Fac          CARE A3        633     Reaffirmed
(Enhanced from 41.17 CR)
Balkrishna Agro Products              ST Bk Fac          CARE A4        40      Assigned
Blue Star Engineering & Electronics   CP*                CARE A1+(SO)   100     Reaffirmed
Ltd
Blue Star Engineering & Electronics   CP*                CARE A1+(SO)   100     Final Rating
Ltd
Blue Star Engineering & Electronics   CP^                CARE A1+(SO)   50      Reaffirmed
Ltd
Cnc India Tools & Services Pvt Ltd    ST Bk Fac          CARE A4+       70      Reaffirmed
(enhanced from 6 CR)
Crab And Taur Engineers Pvt Ltd       ST Bk Fac          CARE A4        120     Assigned
Gmr Infrastructure Ltd                ST Bk Fac          CARE A3        10450   Reaffirmed
Imperial Fastners Pvt Ltd             ST Bk Fac          CARE A4        11      Reaffirmed
Jay Jagdamba Profile Engineering      ST Bk Fac          CARE A3+       577     Revised from
Products Ltd.                                                                   CARE A3
K.S.D Construction                    ST Bk Fac          CARE A4        20      Assigned
Metro City Tiles Pvt. Ltd.            ST Bk Fac          CARE A4        1       Reaffirmed
Nayaab Jewels                         ST Bk Fac          CARE A4        2.7     Reaffirmed
R.Venkata Reddy                       ST Bk Fac          CARE A4        22.5    Assigned
Rnr Constructions Pvt Ltd             ST Bk Fac          CARE A4        80      Reaffirmed
Rolex Processors Pvt Ltd              ST Bk Fac          CARE A4        10.5    Reaffirmed
Seabird Resorts Pvt Ltd               ST Bk Fac          CARE A1+(SO)   3#      Reaffirmed
#-backed by unconditional & irrevocable corporate guarantee of Seabird Marine Services Private
Limited.
Shree Shyam Road Carrier              ST Bk Fac          CARE A4        5       Reaffirmed
Shri Sakthi Papers India Pvt Ltd      ST Bk Fac          CARE A4        47      Reaffirmed
Sivaswathi Constructions Pvt Ltd      ST Bk Fac          CARE A3+       1250    Reaffirmed
Siyaram Granito Pvt Ltd               ST Bk Fac          CARE A4        56.7    Reaffirmed
Wintry Engineering And Chemicals Pvt  ST Bk Fac          CARE A4+       17.5    Reaffirmed
Ltd

LONG TERM RATINGS:
-------------------
Ajay Synthetics Pvt Ltd               LT Bk Fac          CARE BB-       100     Reaffirmed
Anjaneya Cotton Traders               LT Bk Fac-TL       -              -       Withdrawn#
Anjaneya Cotton Traders               LT Bk Fac          CARE B+        57.5    Reaffirmed
(Enhanced from 4.20 CR)
Bajaj Allianz Life Insurance Company  CPA / Financial    CARE AAA(In)   -       Reaffirmed
Ltd.                                  Strength
Balasore Alloys Ltd                   LT Bk Fac          CARE BBB-      800     Reaffirmed
(Enhanced from 49.04 CR)
Balkrishna Agro Products              LT Bk Fac          CARE B+        46.8    Assigned
Bansal Pathways (Guna-Sironj) Pvt Ltd LT Bk Fac          CARE BBB-      1006.5  Assigned
Blue Star Engineering & Electronics   LT Bk Fac (TL)@    CARE AA+(SO)   249.7   Reaffirmed
Ltd
Bulandshahr Roller Flour Mills Pvt LtdLT Bk Fac          CARE B+        80      Reaffirmed
Calamondinn Bungalow                  Karnataka Tourism  CARE KTP B     -       Assigned
                                      Proptionally
                                      convertible debentureuct - Homestay
Cnc India Tools & Services Pvt Ltd    LT Bk Fac          CARE BB+       50      Reaffirmed
(enhanced from 2 CR)
Crab And Taur Engineers Pvt Ltd       LT Bk Fac          CARE BB        45      Assigned
Gmr Infrastructure Ltd                LT Bk FacTL        CARE BBB-      27996   Reaffirmed
(enhanced from 1,804.60)
Golden Mandhir Retail Pvt Ltd         LT Bk Fac          CARE BB        139.4   Revised from
                                                                                CARE BB-
(reduced from 14.95 CR)
Imperial Fastners Pvt Ltd             LT Bk Fac          CARE BB        155.5   Reaffirmed
(Enhanced from 14.70 CR)
Jay Jagdamba Profile Engineering      LT Bk Fac          CARE BBB       405     Reaffirmed
Products Ltd.
K. P. Industries                      LT Bk Fac          CARE B         96.9    Affirmed
(reduced from 10.45 cr)
K.S.D Construction                    LT Bk Fac          CARE BB        50      Assigned
Kamal Pressing Factory                LT Bk Fac          CARE B         50      Assigned
Likhita Energy Systems Pvt Ltd        LT Bk Fac          CARE B         107     Reaffirmed
Mahendra Brothers Exports Pvt Ltd     LT/ST Bk Fac       CARE A- /CARE  9000    Reaffirmed
                                                         A2
Mannae Laboratories Pvt Ltd           LT Bk Fac          CARE B+        150     Assigned
Mbmg Diamonds Pvt Ltd                 LT/ST Bk Fac       CARE A- /CARE  400     Revised from
                                                         A2                     CARE
                                                                                A-(SO)/CARE
A2(SO)
Metro Ceramics                        Long- Term Bk Fac  CARE BB        56.4    Reaffirmed
(reduced from 6.32 CR)
Metro City Tiles Pvt. Ltd.            LT Bk Fac          CARE BB        120.3   Reaffirmed
(reduced from 12.50 CR)
Metro Shoes Ltd                       LT Bk Fac          CARE AA /CARE  250     Reaffirmed
                                                         A1+
Metro World Tiles Pvt. Ltd.           LT Bk Fac          CARE BB        95.4    Reaffirmed
(reduced from 10.08 CR)
Navin Cotton Fiber                    LT Bk Fac          CARE B+        90      Reaffirmed
Nayaab Jewels                         LT Bk Fac          CARE B         175     Reaffirmed
One Education Initiatives Pvt Ltd     LT Bk Fac          CARE BB+       346     Reaffirmed
Oriental Granites And Crushers        LT Bk Fac          CARE BB-       53.5    Revised from
                                                                                CARE B+
(reduced from 5.80 CR)
Patel Knr Infrastructures Ltd         NCD (NCD)          CARE AAA (SO)  2958.1  Placed on
                                                                                Credit Watch
                                                                                with Developing
Implications
Power Televentures Pvt Ltd            LT Bk Fac          CARE BB        120     Reaffirmed
Power Televentures Pvt Ltd            LT/ST Bk Fac       CARE BB /CARE  80      Reaffirmed
                                                         A4
Pradeep Cotton Pvt Ltd                LT Bk Fac          CARE B+        90      Reaffirmed
R.Venkata Reddy                       LT Bk Fac          CARE BB-       45      Assigned
Rajrajeshwar Cotex Pvt Ltd            LT Bk Fac          CARE B         65      Reaffirmed
(Reduced from Rs.6.77 CR)
Rameshwaram Cotton Mills              LT Bk Fac          CARE BB-       100     Assigned
Ranchem Pvt Ltd                       Bk Fac-TL          -              -       Withdrawn
                                      (Proposed)
(Reduced from Rs. 4.67 cr)
Rnr Constructions Pvt Ltd             LT Bk Fac          CARE BB        60      Reaffirmed
Rolex Processors Pvt Ltd              LT Bk Fac          CARE BB-       95.9    Reaffirmed
Seabird Resorts Pvt Ltd               LT Bk Fac          CARE A+(SO)    88.5#   Reaffirmed
#-backed by unconditional & irrevocable corporate guarantee of Seabird Marine Services Private
Limited.
Senthil Kumar Textiles                LT Bk Fac          CARE BB-       68.2    Reaffirmed
(reduced from 8.22 CR)
Sharada Ayurvedic Medical College (RunLT Bk Fac          CARE B+        56.5    Assigned
By Sri Basava Education Charitable &
Social Welfare Trust)
Shiv. S. Balvantrai Rotliwala         LT/ST Bk Fac       CARE BBB-      250     Revised from
                                                         /CARE A3               CARE BB/ CARE
                                                                                A4
(enhanced from Rs.15 crore)
Shree Shyam Road Carrier              LT Bk Facility – TL-              -       Withdrawn
Shree Shyam Road Carrier              LT Bk Fac          CARE BB        40      Reaffirmed
(reduced from 4.18 CR)
Shri Ramdev Cotspin                   LT Bk Fac          CARE BB-       145     Reaffirmed
Shri Sakthi Papers India Pvt Ltd      LT Bk Fac          CARE BB-       335     Revised from
                                                                                CARE BB
Shri Sakthi Papers India Pvt Ltd      LT/ST Bk Fac       CARE BB- /CARE 15      Revised from
                                                         A4                     CARE BB /
                                                                                CARE A4
Shubh Fabrics Ltd                     LT Bk Fac          CARE BB-       75      Reaffirmed
Sivaswathi Constructions Pvt Ltd      LT Bk Fac          CARE BBB       750     Reaffirmed
Sivaswathi Constructions Pvt Ltd      Long -term / Short CARE BBB /CARE 2000    Assigned
                                      -term Bk Fac       A3+
Siyaram Granito Pvt Ltd               LT Bk Fac          CARE BB        359.7   Revised from
                                                                                CARE BB-
(reduced from 38.70 CR)
Sobhagia Clothing Company             LT Bk Fac          CARE BBB-      300     Reaffirmed
Sterling Gated Community Pvt Ltd      LT InstrumentsNCDs CARE B+        600     Reaffirmed
Sukhbir Agro Energy Ltd               LT Bk Fac          CARE BBB+      10099.9 Reaffirmed
(enhanced from 678.48 CR)
Sukhbir Agro Energy Ltd               LT/ST Bk Fac       CARE BBB+      875     Reaffirmed
                                                         /CARE A3+
(enhanced from 41.00 CR)
Swipe Technologies Pvt Ltd            LT Bk Fac          CARE BB-       35      Reaffirmed
Tirupati Cotton Corporation           LT Bk Fac          CARE B+        100     Assigned
Uni Design Elite Jewellery Pvt Ltd    LT/ST Bk Fac       CARE A- /CARE  350     Assigned
                                                         A2
Uni Design Jewellery (India) Pvt Ltd  LT Bk Fac          -              -       Withdrawn
Uni Design Jewellery (India) Pvt Ltd  LT/ST Bk Fac       CARE A- /CARE  975     Revised from
                                                         A2                     CARE
                                                                                A-(SO)/CARE
A2(SO)
Uni Design Jewellery Pvt Ltd          LT/ST Bk Fac       CARE A- /CARE  750     Revised from
                                                         A2                     CARE
                                                                                A-(SO)/CARE
A2(SO)
Wintry Engineering And Chemicals Pvt  LT Bk Fac          CARE BB+       110     Reaffirmed
Ltd
(enhanced from 3.00 CR)
Wintry Engineering And Chemicals Pvt  LT Bk Fac          CARE BB+       138     Reaffirmed
Ltd
--------------------------------------------------------------------------------------------
$: 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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