February 20, 2017 / 5:15 AM / 9 months ago

CARE ratings for Indian debt instruments-Feb 20

    Feb 20 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 17, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Andhra Pradesh Heavy Machinery And    ST Bk Fac          CARE A1        10      Reaffirmed
Engineering Ltd
Borah Automobiles Pvt Ltd             ST Bk Fac          CARE A4        1       Reaffirmed
Glocal Healthcare Systems Pvt. Ltd    ST Bk Fac          CARE A4        50      Assigned
Himachal Fibres Ltd                   ST Bk Fac          CARE D         50      Revised from
                                                                                CARE A4

Jain Irrigation Systems Ltd           ST Bk Fac (Non-FB) CARE A3+       17350   Revised from
                                                                                CARE A3
Jiva Plywood Pvt Ltd                  ST Bk Fac          CARE A4        25      Assigned
Kan Victual Pvt Ltd                   ST Bk Fac          CARE A4        85      Reaffirmed
Leena Powertech Engineers Pvt Ltd     ST Bk Fac          CARE A2        110     Assigned
Malaiya Tractors                      ST Bk Fac          CARE A4        15      Reaffirmed
Mineral World Llp                     ST Bk Fac          CARE A4        10      Assigned
Nalli Chinnasami Chetty               ST Bk Fac          CARE A2        70      Reaffirmed
Sequel Logistics Pvt Ltd              ST Bk Fac          CARE A2        195     Reaffirmed
Sgs Marketing                         ST Bk Fac          CARE A4        55      Assigned
Supreme Batteries Pvt Ltd             ST Bk Fac          CARE A4        45      Reaffirmed
Yash Appliances                       ST Bk Fac          CARE A3        180     Assigned

LONG TERM RATINGS:
-------------------
Adani Power Maharashtra Ltd.          LT Bk Fac          CARE A-        150241.9Reaffirmed
Adani Power Maharashtra Ltd.          Long/ST Bk Fac     CARE A- /CARE  10000   Revised from
                                                         A2                     CARE A- /
                                                                                CARE A2+
Akshaya Signature Homes Pvt Ltd       Proposed NCD issue CARE C         800     Withdrawn
Andhra Pradesh Heavy Machinery And    LT Bk Fac          CARE A         180     Reaffirmed
Engineering Ltd
Assrm & Co                            LT Bk Fac          -              -       Withdrawn
Badarpur Faridabad Tollway Limted     LT Bk Fac          CARE D         3867.1  Reaffirmed
Borah Automobiles Pvt Ltd             LT Bk Fac          CARE B+        120     Reaffirmed
(reduced from 12.18 CR)
Capital First Ltd                     NCD                CARE AA+       37000   Reaffirmed
(reduced from 4350 CR)
Capital First Ltd                     Proposed NCDs      CARE AA+       15000   Assigned
Dhanraj & Co.                         LT Bk Fac          CARE B         150     Assigned
Disha Microfin Ltd                    NCD                CARE BBB+      350     Assigned
Disha Microfin Ltd                    LT Bk Fac          CARE BBB+      2000    Reaffirmed
Dungarmal Dhanraj & Co.               LT Bk Fac          CARE B         150     Assigned
Glocal Healthcare Systems Pvt. Ltd    LT Bk Fac          CARE BB        350     Revised from
                                                                                CARE BBB-
(enhanced from Rs.25 crore)
Himachal Fibres Ltd                   LT Bk Fac          CARE D         220     Revised from
                                                                                CARE C+
Jain Irrigation Systems Ltd           LT Bk Fac (TL)     CARE BBB+      5376.7  Revised from
                                                                                CARE BBB-
Jain Irrigation Systems Ltd           LT Bk Fac (FB)     CARE BBB+      15500   Revised from
                                                                                CARE BBB-
Jiva Plywood Pvt Ltd                  LT Bk Fac          CARE B         55      Assigned
Kan Victual Pvt Ltd                   LT Bk Fac          CARE BB+       138.7   Revised from
                                                                                CARE BB
Leena Powertech Engineers Pvt Ltd     LT Bk Fac          CARE BBB+      200     Assigned
Leena Powertech Engineers Pvt Ltd     LT / ST Bk Fac     CARE BBB+      1190    Assigned
                                                         /CARE A2
Malaiya Tractors                      LT Bk Fac          CARE B+        58.1    Reaffirmed
(reduced from 5.94 CR)
Mineral World Llp                     LT Bk Fac          CARE BB-       114.4   Assigned
Nalli Chinnasami Chetty               LT Bk Fac          CARE BBB+      33.4    Reaffirmed
(reduced from 4.42 CR)
Nalli Nkr Trust                       LT Bk Fac          CARE BBB+      47.4    Reaffirmed
(reduced from 6.55 CR)
Patil And Company                     LT Bk Fac          CARE B-        100     Assigned
Patil And Company                     LT / ST Bk Fac     CARE B- /CARE  70      Assigned
                                                         A4
Principal Pnb Asset Management CompanyOpen-Ended Income  CARE AAAmfs    -       Assigned
Pvt Ltd                               Scheme
Ps Srijan Estate Llp                  LT Bk FacProposed  CARE BBB-      820     Reaffirmed
Ranga Particle Board Industries Ltd   LT Bk Fac (FB) –TL CARE BB-       790     Assigned
Ranga Particle Board Industries Ltd   LT Bk Fac (FB) – CCCARE BB-       260     Assigned
Sarvodaya Agrotech (India) Ltd        LT Bk Fac          CARE BBB-      150     Reaffirmed
                                                         /CARE A3
Sequel Logistics Pvt Ltd              LT Bk Fac          CARE BBB+      67.4    Reaffirmed
Sequel Logistics Pvt Ltd              LT / ST Bk Fac     CARE BBB+      171.5   Reaffirmed
                                                         /CARE A2
Sgs Marketing                         LT Bk Fac          CARE B+        25      Assigned
Sgs Marketing                         LT / ST Bk Fac     CARE B+ /CARE  20      Assigned
                                                         A4
Sms Ltd                               LT Bk Fac – CC     CARE A-        2750    Reaffirmed
                                                                                and assigned
                                                                                Outlook Positive
Sms Ltd                               Long/ST Bk Fac     CARE A- /CARE  200     Reaffirmed
                                      –fund based (SLOC) A2                     and assigned
                                                                                Outlook Positive
Sms Ltd                               Long/ST Bk Fac-    CARE A- /CARE  8070    Reaffirmed
                                      Non fund based     A2                     and assigned
                                                                                Outlook Positive
Spgv Petrochem (India) Pvt Ltd        Long/ST Bk Fac     CARE BB /CARE  248     Reaffirmed
                                                         A4+
Supreme Batteries Pvt Ltd             LT Bk Fac          CARE BB        225.5   Reaffirmed
(reduced from 23.09 CR)
Yash Appliances                       LT Bk Fac          CARE BBB-      80      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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