February 21, 2017 / 5:19 AM / 9 months ago

CARE ratings for Indian debt instruments-Feb 21

   Feb 21 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 20, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agrawal Cotspin Pvt Ltd               ST Bk Fac          CARE A4        12      Reaffirmed
Amtech Electronics (India) Ltd        ST Bk Fac          CARE A3        127.4   Reaffirmed
Arcvac Forgecast Pvt. Ltd             ST Bk Fac          CARE D         282.5   Revised from
                                                                                CARE A4
Choudhary Construction Company        ST Bk Fac          CARE A4+       151     Revised from
                                                                                CARE A4
Elkosta Security Systems India        ST Bk Fac          CARE A4        30      Assigned
Glazetech Industries Pvt Ltd          ST Bk Fac          CARE A4        46      Placed on
                                                                                Notice of
                                                                                withdrawal
Jagat Agro                            ST Bk Fac          CARE A4        29      Assigned
Kankai Pipes And Fittings Pvt Ltd     ST Bk Fac          CARE A4        50      Reaffirmed
Major Life Style Pvt Ltd              ST Bk Fac          CARE A4        50      Placed on
                                                                                Notice of
                                                                                withdrawal
Mehul Construction Company Pvt Ltd    ST Bk              CARE A4+       355     Assigned
                                      Facility-NonFB
(enhanced from Rs.6.00 crore)
Multi Infratech Pvt Ltd               ST Bk Fac          CARE A3        120     Reaffirmed
(reduced from 16crs)
Multimetals Ltd                       ST Bk Fac          CARE A3+       400     Revised from
                                                                                CARE A3
Plazma Technologies Pvt Ltd           ST Bk Fac          CARE A4        58      Reaffirmed
Shiva Corporation India Ltd           ST Bk Fac          CARE A3        312.5   Reaffirmed
Sona Wires Pvt Ltd                    ST Bk Fac          CARE A4        20      Reaffirmed
Spykar Lifestyles Pvt Ltd             ST Bk Fac –Fund    CARE A1+(SO)*  460     Reaffirmed
                                      Based – CC Limit
*The above rating is based on the condition that on occurrence of event of default as defined in
the credit arrangement letter, the lender will invoke the SBLC for the entire amount outstanding
against the facility. The rating is valid till the expiry of the validity of the SBLC or
extinguishment of the facility before the validity period on invocation of the SBLC, whichever
is earlier
Spykar Lifestyles Pvt Ltd             ST Bk Fac-NFBLC/BG CARE A1+(SO)*  200     Reaffirmed
*The above rating is based on the condition that on occurrence of event of default as defined in
the credit arrangement letter, the lender will invoke the SBLC for the entire amount outstanding
against the facility. The rating is valid till the expiry of the validity of the SBLC or
extinguishment of the facility before the validity period on invocation of the SBLC, whichever
is earlier
Spykar Lifestyles Pvt Ltd             ST Bk Fac-NFBLC/BG CARE A3        100     Reaffirmed
Surya Wires Pvt Ltd                   ST Bk Fac          CARE A4        90      Reaffirmed
Tribhuvan Spintex Pvt Ltd             ST Bk Fac          CARE A4        35.4    Reaffirmed
Zuberi Engineering Company            ST Bk Fac          CARE A4        50      Assigned

MEDIUM TERM RATINGS:
-------------------
Grauer & Weil (India) Ltd             Medium Term Fixed  CARE AA- (FD)  100     Assigned
                                      Deposit programme
                                      (Proposed)

LONG TERM RATINGS:
-------------------
Agrawal Cotspin Pvt Ltd               LT Bk Fac          CARE B+        80      Reaffirmed
Amtech Electronics (India) Ltd        LT Bk Fac          CARE BBB-      47.5    Reaffirmed
Ansh Cotex                            LT Bk Fac          CARE BB-       84.5    Assigned
Arcvac Forgecast Pvt. Ltd             LT Bk Fac          CARE D         1109.4  Revised from
                                                                                CARE BB-
Bardiya Real Estate Developers Pvt LtdLT Bk Fac          CARE BB+       360.6   Reaffirmed
Choudhary Construction Company        LT Bk Fac          CARE BB+       19      Revised from
                                                                                CARE BB
Drs Warehousing (North) Pvt Ltd       LT Bk Fac          CARE BBB-      431.5   Assigned
Elkosta Security Systems India        LT Bk Fac          CARE B         120     Assigned
Glazetech Industries Pvt Ltd          LT Bk Fac          CARE B         37.5    placed on
                                                                                Notice of
                                                                                withdrawal
Growing Opportunity Finance (India) PvLT Bk Fac          CARE BB+       500     Reaffirmed
Ltd
(enhanced from 15.00crs)
Indian City Properties Ltd            LT Bk Fac          -              -       Withdrawn
Jagat Agro                            LT Bk Fac          CARE B+        100     Assigned
Kankai Pipes And Fittings Pvt Ltd     LT Bk Fac          CARE B+        41.5    Reaffirmed
Kankai Pipes And Fittings Pvt Ltd     LT/ST Bk Fac       CARE B+ /CARE  20      Reaffirmed
                                                         A4
Karanj Textile Park Pvt Ltd           LT Bk Fac          CARE BB        250.5   Assigned
Karanj Textile Park Pvt Ltd           LT /ST Bk Fac      CARE BB /CARE  40      Assigned
                                                         A4
Kunal Lohachem Pvt Ltd                LT Bk Fac          CARE B         60      Reaffirmed
Leopard Vitrified Pvt Ltd             LT Bk Fac          CARE BB        395.5   Reaffirmed
(enhanced from Rs.35.55 crore)
Leopard Vitrified Pvt Ltd             LT/ST Bk Fac       CARE BB /CARE  42.5    Reaffirmed
                                                         A4
Loh Swetanshu Prakashbhai             LT Bk Fac          CARE BB-       57      Assigned
Madhya Pradesh Agro Food Industries LtLT Bk Fac          CARE BB+       180     Reaffirmed
Mehul Construction Company Pvt Ltd    LT Bk              CARE BB+       240     Assigned
                                      Facility-Fundbased
(enhanced from Rs.9.00 crore)
Multi Infratech Pvt Ltd               LT Bk Fac          CARE BBB-      80      Reaffirmed
Multimetals Ltd                       LT / ST Bk Fac     CARE BBB-      350     Reaffirmed/
                                                         /CARE A3+              revised
                                                                                from
                                                                                CARE A3 
Plasser (India) Pvt Ltd               LT/ST Bk Fac       CARE AA- /CARE 500     Reaffirmed
                                                         A1+
Plazma Technologies Pvt Ltd           LT Bk Fac          CARE BB-       26.3    Revised from
                                                                                CARE BB
Premier Car Sales Ltd                 LT Bk Fac          CARE BB+       150     Assigned
Proagri Seeds                         LT Bk Fac          CARE B+        85      Assigned
Rohtas Fasteners Pvt Ltd              LT Bk Fac          CARE BBB-      59.2    Revised from
                                                                                CARE BB+
S V Creditline Pvt Ltd                LT Bk Fac          CARE BBB-      1000    Reaffirmed
Sarvajanik Jankalyan Parmarthik Nyas  LT Bk Fac          CARE B+        515.4   Reaffirmed
Satish Motors Pvt Ltd                 LT Bk Fac          CARE B+        200     Revised from
                                                                                CARE BB-
Shiva Corporation India Ltd           LT Bk Fac          CARE BBB-      100     Reaffirmed
Snn Homes Llp                         LT Bk Fac          CARE BBB+      1240    Reaffirmed
Snn Properties Llp                    LT Bk Fac 199      CARE BBB+      1990    Reaffirmed
Sona Wires Pvt Ltd                    LT Bk Fac          CARE B+        39.1    Reaffirmed
Spykar Lifestyles Pvt Ltd             LT Bk Fac-FB-CC    CARE BBB       601     Reaffirmed
(enhanced from 46.10crs)
Surya Wires Pvt Ltd                   LT Bk Fac          CARE B+        196     Reaffirmed
Surya Wires Pvt Ltd                   LT/ ST Bk Fac      CARE B+ /CARE  40      Reaffirmed
                                                         A4
Svm Cera Pvt Ltd                      LT Bk Fac          CARE D         45      Assigned
Svm Cera Pvt Ltd                      ST Bk Fac          CARE D         24      Assigned
Tribhuvan Spintex Pvt Ltd             LT Bk Fac          CARE BB-       630     Reaffirmed
Tribhuvan Spintex Pvt Ltd             LT/ ST Bk Fac      CARE BB- /CARE 90      Reaffirmed
                                                         A4
Vaishno Devi Food Products Pvt Ltd    LT Bk Fac          CARE BB+       261.3   Reaffirmed
(enhanced from 19.05crs)
Zuberi Engineering Company            LT Bk Fac          CARE BB+       80      Assigned
Zuberi Engineering Company            LT /ST Bk Fac      CARE BB+ /CARE 900     Assigned
                                                         A4
--------------------------------------------------------------------------------------------
$: 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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below