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CARE ratings for Indian debt instruments-May 16
May 16, 2017 / 5:05 AM / 6 months ago

CARE ratings for Indian debt instruments-May 16

    May 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 15, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  --------
SHORT TERM RATINGS:
-------------------
Akal Pipe Industries                  ST Bk Fac          CARE A4        3.2     Assigned
Anjani Food Products Pvt Ltd          ST Bk Fac          CARE A4        15      Assigned
Contour Steel Engineering India Pvt   ST Bk Fac          CARE A4        20      Reaffirmed
Ltd    
Etco Digital Pvt Ltd                  ST Bk Fac          CARE A4        70      Issuer not
                                                                                cooperating
Gcl Pvt Ltd                           ST Bk Fac          CARE D         40      Issuer not
                                                                                cooperating
Gmr Warora Energy Ltd                 ST Bk Fac (Non-FB) CARE A4        2443.8  Revised from
                                                                                CARE D
(enhanced from 230.00)
Jindal Steel & Power Ltd              ST Bk Fac          CARE D         68462.3 Reaffirmed
Jmj Switch Gears Pvt Ltd              ST Bk Fac          CARE D         17.2    Issuer not
                                                                                cooperating
Kovai Kalaimagal Educational Trust    ST Bk Fac          CARE D         1.4     Issuer not
                                                                                cooperating
Laxmi Garments                        ST Bk Fac          CARE A4        106.9   Issuer not
                                                                                cooperating
Mother Dairy Fruit And Vegetable Pvt LST Instruments (CP)CARE A1+       600*    Reaffirmed
*carved out of the sanctioned working capital limits of the company.
Mse Industries                        ST Bk Fac          CARE A4        21      Reaffirmed
P.K. Thakur And Company Pvt Ltd       ST Bk Fac          CARE A4        55      Assigned
R. K. Electrical Industries India Pvt ST Bk Fac          CARE A4        55      Assigned
Ltd
Texmaco Rail & Engineering Ltd        ST Bk Fac          CARE A1+       11000   Reaffirmed
Trans Metalite India Ltd              ST Bk Fac          CARE A4        15      Reaffirmed
Value Line Homestyle Pvt Ltd          ST Bk Fac          CARE A4        33      Reaffirmed

LONG TERM RATINGS:
-------------------
Aadhisiva Enterprises                 LT Bk Fac          CARE D         63.5    Issuer not
                                                                                cooperating
Akal Pipe Industries                  LT Bk Fac          CARE B-        45.6    Assigned
Aleph Enterprises                     LT Bk Fac          CARE B+        10      Issuer not
                                                                                cooperating
Aleph Enterprises                     LT /ST Bk Fac      CARE B+ /CARE  70      Issuer not
                                                         A4                     cooperating
Anjani Food Products Pvt Ltd          LT Bk Fac          CARE BB-       110     Assigned
Ava Apparels Llp                      LT /ST Bk Fac      CARE B+ /CARE  72      Revised from
                                                         A4                     CARE B
Azure Power India Pvt Ltd             LT Bk Fac          CARE A-        1601    Revised from
                                                                                CARE BBB
Azure Power India Pvt Ltd             LT /ST Bk Fac      CARE A- /CARE  5250    Revised from
                                                         A2+                    CARE BBB /
                                                                                CARE A3+
Contour Steel Engineering India Pvt LtLT Bk Fac          CARE BB-       60      Revised from
                                                                                CARE BB
Cosmic Soft Solutions Pvt Ltd         LT Bk Fac          CARE BB-       333.1   Reaffirmed
(Enhanced from 10.96 CR)
Etco Digital Pvt Ltd                  LT Bk Fac          CARE BB-       40      Issuer not
                                                                                cooperating
Etp International Pvt Ltd             LT Bk Fac          CARE BB        113.2   Issuer not
                                                                                cooperating
Express Projects Pvt Ltd              LT Bk Fac          CARE BB-       200     Reaffirmed
                                      (Overdraft)
Express Projects Pvt Ltd              LT Bk Fac (TL)     CARE BB-       931     Withdrawn
Galaxy Enterprise                     LT Bk Fac          CARE BB-       100     Issuer not
                                                                                cooperating
Gcl Pvt Ltd                           LT Bk Fac          CARE D         177.1   Issuer not
                                                                                cooperating
Gmr Warora Energy Ltd                 NCD Programme      CARE BB        750     Revised from
                                                                                CARE D
Gmr Warora Energy Ltd                 Long/ST Bk Fac (FB)CARE BB /CARE  3976.2  Revised from
                                                         A4                     CARE D
(enhanced from 390.00)
Gmr Warora Energy Ltd                 LT Bk Fac (TL)     CARE D         34457.9 Reaffirmed
(reduced from 3,510.88)
Guranditta Mal Mohan Lal              LT Bk Fac          CARE B         170     Assigned
Herrera Ifmr Capital 2017             Series A1 PTC      CARE A-(SO)    414.5   Assigned
Herrera Ifmr Capital 2017             Series A2 PTC      CARE BB+(SO)   42.9    Assigned
Jindal Steel & Power Ltd              LT Bk Fac          CARE D         184406.2Reaffirmed
Jindal Steel & Power Ltd              NCD I              CARE D         5000    Reaffirmed
Jindal Steel & Power Ltd              NCD II             CARE D         10000   Reaffirmed
Jindal Steel & Power Ltd              NCD III            CARE D         8620    Reaffirmed
Jindal Steel & Power Ltd              NCD IV             CARE D         1000    Reaffirmed
Jindal Steel & Power Ltd              NCD V              CARE D         7500    Reaffirmed
Jindal Steel & Power Ltd              NCD VI             CARE D         4000    Assigned
Jindal Steel & Power Ltd              CP                 CARE D         -       Withdrawn
Jmj Switch Gears Pvt Ltd              LT Bk Fac          CARE D         51.2    Issuer not
                                                                                cooperating
K.V. Chinnaiah                        LT Bk Fac          CARE B         35      Assigned
Kovai Kalaimagal Educational Trust    LT Bk Fac          CARE D         56.6    Issuer not
                                                                                cooperating
Laxmi Garments                        LT Bk Fac          CARE B+        3.1     Issuer not
                                                                                cooperating
Little Flower Hospital Trust          ST Bk Fac          CARE BB+       374.2   Revised from
                                                                                CARE BB
(Reduced from 45.93 CR)
Madarkhat Tea Company Pvt Ltd         LT Bk Fac          CARE B         58      Assigned
Mse Industries                        LT Bk Fac          CARE B+        28.9    Reaffirmed
(reduced from 3.05 CR)
Niha International Pvt Ltd            LT Bk Fac          CARE B+        74.5    Assigned
P.K. Thakur And Company Pvt Ltd       LT Bk Fac          CARE B+        30.1    Assigned
Palla Silks Pvt Ltd                   LT Bk Fac          CARE BB-       80      Issuer not
                                                                                cooperating
Palla Vajara Kiran Textiles Pvt Ltd   LT Bk Fac          CARE BB-       50      Issuer not
                                                                                cooperating
Pheroze Framroze & Company Pvt Ltd    LT Bk Fac          CARE BB        500     Revised from
                                                                                CARE BB-
(enhanced from Rs. 39 crore)
Pln Silks Pvt Ltd                     LT Bk Fac          CARE BB-       70      Issuer not
                                                                                cooperating
Precision Electronics Ltd             LT Bk Fac          CARE BB        48      Reaffirmed
Precision Electronics Ltd             LT /ST Bk Fac      CARE BB /CARE  50      Reaffirmed
                                                         A4
R. K. Electrical Industries India Pvt LT Bk Fac          CARE C         30      Assigned
Ltd
Rmj Modern Rice Mill                  LT Bk Fac          CARE BB-       118.9   Issuer not
                                                                                cooperating
Spi Engineers Pvt Ltd                 LT Bk Fac          CARE B+        60      Assigned
Sri Ranga Textiles Pvt Ltd            LT Bk Fac          CARE BB        85.4    Issuer not
                                                                                cooperating
Stage Door                            LT Bk Fac          CARE B         80      Reaffirmed
Texmaco Rail & Engineering Ltd        LT Bk Fac          CARE AA-       2440    Reaffirmed
(enhanced from 95 CR)
Texmaco Rail & Engineering Ltd        LT /ST Bk Fac      CARE AA- /CARE 6420    Assigned
                                                         A1+
Trans Metalite India Ltd              LT Bk Fac          CARE B         110.9   Reaffirmed
Value Line Homestyle Pvt Ltd          LT Bk Fac          CARE BB-       47      Revised from
                                                                                CARE B+
--------------------------------------------------------------------------------------------
$: 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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