May 10, 2017 / 3:49 AM / 6 months ago

CARE ratings for Indian debt instruments-May 10

    May 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 9, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Dynatech Industries Priavte Ltd       ST Bk Fac          CARE A4        20      Issuer not
                                                                                cooperating
Elite Infra Projects Pvt Ltd          ST Bk Fac          CARE D         60      Issuer not
                                                                                cooperating
Gujarat Raffia Industries Ltd         ST Bk Fac          CARE A4        30      Issuer not
                                                                                cooperating
Jindal India Thermal Power Ltd        ST Bk Fac          CARE D         2097.4  Reaffirmed
Mauria Udyog Ltd                      ST Bk Fac          CARE A3        2400    Reaffirmed
Nirmal International                  ST Bk Fac          CARE A4        80      Reaffirmed
Patidar Cotspin Pvt Ltd               ST Bk Fac          CARE A4        25      Issuer not
                                                                                cooperating
Rcl Paper And Packagings Ltd          ST Bk Fac          CARE D         27.5    Issuer not
                                                                                cooperating
Sheba Properties Ltd                  CP                 CARE A1+       60000   Assigned
Simbel Ceramic Pvt Ltd                ST Bk Fac          CARE A4        10      Issuer not
                                                                                cooperating
Sundaram Bnp Paribas Home Finance Ltd ST Bk Fac          CARE A1+       100     Reaffirmed
Sirius Infra Projects Pvt Ltd         ST Bk Fac          CARE D         50      Issuer not
                                                                                cooperating
Tritvam                               Project            NCR - 7 Star   -       Withdrawn
Velbon Vitrified LLp                  ST Bk Fac          CARE A4        21      Assigned

LONG TERM RATINGS:
-------------------
Apollo Fiege Integrated Logistics Pvt LT Bk Fac          CARE BBB       250     Reaffirmed
Ltd
Bvg India Ltd                         LT Bk Fac          CARE A+        6487.5  Revised from
                                                                                CARE A
Bvg India Ltd                         LT/ ST Bk Fac      CARE A+/A1     7340    Revised from
                                                                                CARE A
Continental Multimodal Terminals Ltd  LT Bk Fac – FB – TLCARE BBB+      350     Reaffirmed
Continental Multimodal Terminals Ltd  LT/ST –            CARE BBB+      50      Reaffirmed
                                      Fund/Non-FB limits /CARE A2
Dynatech Industries Priavte Ltd       LT Bk Fac          CARE B+        67.5    Issuer not
                                                                                cooperating
Elite Infra Projects Pvt Ltd          LT Bk Fac          CARE D         95      Issuer not
                                                                                cooperating
Evergreen International Ltd           LT Bk Fac          CARE BB        120     Assigned
Gaap Tuff Glass Llp                   LT Bk Fac          CARE B         91.8    Issuer not
                                                                                cooperating
Global Offshore Services Ltd          LT Bk Fac – TL     CARE C         91.9    Revised from
                                                                                CARE D
Global Offshore Services Ltd          LT Bk Fac – FBL    CARE C         200     Revised from
                                                                                CARE D
Global Offshore Services Ltd          Long/ST Bk Fac –   CARE C /A4     130     Revised from
                                      Non Fund Based                            CARE D
Global Offshore Services Ltd          LT Bk Fac – TL     CARE D         3713    Reaffirmed
Global Offshore Services Ltd          LT Bk Fac – FBL    CARE D         240     Reaffirmed
Global Offshore Services Ltd          Long/ST Bk Fac –   CARE D         150     Reaffirmed
                                      Non Fund Based
Gujarat Raffia Industries Ltd         LT Bk Fac          CARE BB-       140.4   Issuer not
                                                                                cooperating
J P And Company                       LT Bk Fac          CARE B+        120     Assigned
J.K. Bhansali & Co.                   LT Bk Fac          CARE BB+       402     Issuer not
                                                                                cooperating
Jindal India Thermal Power Ltd        LT Bk Fac          CARE D         57666.9 Reaffirmed
Jindal India Thermal Power Ltd        Long/ST Bk Fac     CARE D         2900    Reaffirmed
Kanakadurga Finance Ltd               LT Bk Fac          CARE BBB       1028    Reaffirmed
Mangala Seeds                         LT Bk Fac          CARE B+        80      Issuer not
                                                                                cooperating
Mauria Udyog Ltd                      LT Bk Fac          CARE BBB-      550     Reaffirmed
Megaplast India Pvt Ltd               LT/Shortterm Bk FacCARE BBB /CARE 150     Reaffirmed
                                                         A3+
P.M. Shah & Co. Jewellers Pvt Ltd     LT Bk Fac          CARE BB-       50      Issuer not
                                                                                cooperating
Patidar Cotspin Pvt Ltd               LT Bk Fac          CARE B         7.5     Issuer not
                                                                                cooperating
Patidar Cotspin Pvt Ltd               LT/Shortterm Bk FacCARE B/A4      50      Issuer not
                                                                                cooperating
Platina Steels Pvt Ltd                LT Bk Fac          CARE B+        171.6   Issuer not
                                                                                cooperating
R M Auto Link Pvt Ltd                 LT Bk Fac          CARE B+        75      Issuer not
                                                                                cooperating
Rcl Paper And Packagings Ltd          LT Bk Fac          CARE D         72.8    Issuer not
                                                                                cooperating
Satyam Cottex                         LT Bk Fac          CARE B+        58.1    Issuer not
                                                                                cooperating
Sheba Properties Ltd                  Perpetual Debt     CARE AA-       397     Assigned
Sheba Properties Ltd                  LT Bk Fac          CARE AA+       170000  Assigned
Sheba Properties Ltd                  NCDs               CARE AA+       15270   Assigned
Sheba Properties Ltd                  Subordinated Debt  CARE AA+       2650    Assigned
Shikhar Microfinance Pvt Ltd          LT Bk Fac (TL)     CARE BB+       500     Reaffirmed
Sikka Motors Pvt Ltd                  LT Bk Fac          CARE B         340     Assigned
Simbel Ceramic Pvt Ltd                LT Bk Fac          CARE BB        87.7    Issuer not
                                                                                cooperating
Sirius Infra Projects Pvt Ltd         LT Bk Fac          CARE D         40      Issuer not
                                                                                cooperating
Sri Balaji Raw & Parboiled Rice Mills LT Bk Fac          CARE B+        200     Issuer not
Pvt Ltd                                                                         cooperating
Sundaram Bnp Paribas Home Finance Ltd Subordinated Debt  CARE AA        2500    Reaffirmed
Sundaram Bnp Paribas Home Finance Ltd LT Bk Fac          CARE AA+       1083.3  Reaffirmed
Sundaram Bnp Paribas Home Finance Ltd NCDs (Series VIII) CARE AA+       1110    Reaffirmed
Sundaram Bnp Paribas Home Finance Ltd NCDs (Series IX)   CARE AA+       3158    Reaffirmed
Sundaram Bnp Paribas Home Finance Ltd NCDs (Series X)    CARE AA+       4132    Reaffirmed
Sundaram Bnp Paribas Home Finance Ltd NCDs (Series XI)   CARE AA+       4565    Reaffirmed
Sundaram Bnp Paribas Home Finance Ltd NCDs (Series XII)  CARE AA+       1000    Reaffirmed
Velbon Vitrified Llp                  LT Bk Fac          CARE B+        225     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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