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CARE ratings for Indian debt instruments-May 18
May 18, 2017 / 5:49 AM / 7 months ago

CARE ratings for Indian debt instruments-May 18

    May 18 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 17, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Alpha Maier Pvt Ltd                   ST Bk Fac          CARE A3        70      Reaffirmed
Bharathi Spintex India Ltd            ST Bk Fac          CARE A4        15.3    Reaffirmed
Rc Golden Granites Pvt Ltd            ST Bk Fac          CARE A4        89      Reaffirmed
Jayaram Textiles                      ST Bk Fac          CARE D         1.8     Issuer not
                                                                                cooperating
Sigma Projects Inc                    ST Bk FacLOC       CARE A4        53      Assigned

Shriram Epc Ltd                       ST Bk Fac          CARE D         9272.7  Revised from
                                                                                CARE A4+
(Enhanced from 667.14 CR)
Trion Chemicals Pvt Ltd               ST Bk Fac          CARE A3        158.9   Reaffirmed
(enhanced from Rs.7.00 crore)
Voltech Manufacturing Co. Ltd         ST Bk Fac          CARE A4        130     Issuer not
                                                                                cooperating

LONG TERM RATINGS:
-------------------
Aaditya Transport                     LT Bk Fac          CARE BB-       45      Assigned
Accord Builders                       LT Bk Fac@         CARE BBB-(SO)  1538.5  Reaffirmed
(enhanced from Rs.45.90 core) @ backed by credit enhancement in form of unconditional and
irrevocable corporate guarantee from Omkar Realtors & Developers Private Limited.
Developers P
Aegis Value Homes Ltd                 LT Bk Fac          CARE BB-       237.5   Reaffirmed
Alpha Maier Pvt Ltd                   LT Bk Fac          CARE BBB-      45.5    Reaffirmed
(reduced from 5.88 CR)
Amruth Organic Fertilizers            LT Bk Fac          CARE B+        100     Assigned
Asan Memorial Association             LT Bk Fac          CARE D         83.8    Issuer not
                                                                                cooperating
Bhandary Foundation                   LT Bk Fac          CARE BB+       195     Reaffirmed
(Reduced from 21.59 CR)
Bharathi Spintex India Ltd            LT Bk Fac          CARE BB-       425.6   Reaffirmed
(reduced from 50.02 CR)
Cent Bank Home Finance Ltd.           LT Bk Fac          CARE A-        1318.3  Assigned
Coastal Farms                         LT Bk Fac          CARE BBB-      525     Reaffirmed
(enhanced from 30 CR)
Cubatic Texfab Pvt Ltd                LT Bk Fac          CARE B+        50      Assigned
Globalite Industries Pvt Ltd          LT Bk Fac          CARE BB-       126     Revised from
                                                                                CARE BB
Globalite Industries Pvt Ltd          LT/ST Bk Fac       CARE BB- /CARE 6       Revised from
                                                         A4                     CARE BB
H.G. Narayan & Sons                   LT Bk Fac          CARE BBB-      75      Reaffirmed
(Reduced from 8 CR)
Haldia Agro Pvt Ltd                   LT Bk Fac          CARE B+        67      Assigned
Highrise Facility Solutions Pvt Ltd   LT Bk Fac@         CARE BBB-(SO)  2200    Reaffirmed
(enhanced from Rs.80 crore) @ backed by credit enhancement in form of unconditional and
irrevocable corporate guarantee from Omkar Realtors & Developers Private Limited.
Developers Pri
Ikf Finance Ltd                       NCDs (NCD)         CARE A-        750     Reaffirmed
(reduced from 100 CR)
Ikf Finance Ltd                       Market Linked      CARE PP-MLD A- 250     Assigned
                                      Debenture (MLD) –
                                      Proposed
Jayaram Textiles                      LT Bk Fac          CARE D         236.7   Issuer not
                                                                                cooperating
K R B S Jewelery Pvt Ltd              LT Bk Fac          CARE BB-       100     Issuer not
                                                                                cooperating
Mallella Stone International          LT Bk Fac          CARE B+        50      Assigned
Marian Projects Pvt Ltd               LT Bk Fac          CARE BB-       370     Reaffirmed
Methra Industries India Pvt Ltd       LT Bk Fac          CARE D         120.8   Issuer not
                                                                                cooperating
New Suresh Fashion Jewellery          LT Bk Fac          CARE B+        50      Assigned
Omkar Ventures Pvt Ltd                LT Bk Fac@         CARE BBB-(SO)  3800    Reaffirmed
(enhanced from Rs.110 crore)
Palmar Mills Pvt Ltd                  LT Bk Fac          CARE BB        131.9   Revised from
                                                                                CARE BB-
(reduced from 14.58 CR)
Pv Power Technologies Pvt Ltd         Long/ST Fund Based  CARE BBB-/    195     Reaffirmed
                                      – CC/Pre & Post     CARE A3
                                      Shipment Cr
Pv Power Technologies Pvt Ltd         Long/ST Non Fund    CARE BBB-/    140     Reaffirmed
                                      Based- LOC/BG       CARE A3
(Enhanced from Rs 5.25 crore)
Sai Traders                           LT Bk Fac          CARE BB-       30      Assigned
Saraswathi Broilers Pvt Ltd           LT Bk Fac          CARE B+        120     Issuer not
                                                                                cooperating
Shriram Epc Ltd                       LT Bk Fac          CARE D         7394.1  Revised from
                                                                                CARE BB
(reduced from 1,975.08 CR)
Shriram Epc Ltd                       LT/ST Bk Fac       CARE D         577.7   Revised from
                                                                                CARE BB /
                                                                                CARE A4
(Enhanced from 48.00 CR)
Sigma Projects Inc                    LT Bk FacCC        CARE BB-       22      Assigned
Solutrean Building Technologies Ltd   LT Bk Fac          CARE BB-       500     Reaffirmed
Srinivasa Educational Society         LT Bk Fac          CARE BB        71      Assigned
Starlon Exim Pvt Ltd                  LT/ST Bk Fac       CARE B+ /CARE  150     Assigned
                                                         A4
Surana Developers (Wadala) Llp        LT Bk Fac@         CARE BBB-(SO)  4100    Reaffirmed
(enhanced from Rs.113 crore) @ backed by credit enhancement in form of unconditional and
irrevocable corporate guarantee from Omkar Realtors & Developers Private Limited.
Developers Pr
Trion Chemicals Pvt Ltd               LT Bk Fac          CARE BBB-      344     Reaffirmed
Vedbhumi Builders And Developers Pvt  LT Bk Fac          CARE D         389.4   Reaffirmed
Ltd
(enhanced from 32 CR)
Vgs Realty Construction Pvt Ltd       LT Bk Fac@         CARE BBB-(SO)  1259.5  Reaffirmed
(enhanced from Rs.37.80 crore)
Voltech Manufacturing Co. Ltd         LT Bk Fac          CARE BB-       119.9   Issuer not
                                                                                cooperating
--------------------------------------------------------------------------------------------
$: 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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