July 7, 2017 / 5:54 AM / 4 months ago

CARE ratings for Indian debt instruments-Jul 7

   Jul 7 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 6, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Gayatri Seafoods And Feeds Pvt Ltd    ST Bk Fac          CARE A4        65      Assigned
Skm Egg Products Export (India) Ltd   ST Bk Fac          CARE A3                Reaffirmed
Shinie Impex                          ST Bk Fac                                 Withdrawn
Jagdish Agro Foods                    ST Bk Fac                                 Withdrawn
Tirupati Agro Product                 ST Bk Fac          CARE A4        2.1     Reaffirmed


MEDIUM TERM RATINGS:
-------------------
Dewan Housing Finance Corporation Ltd Fixed Deposit      CARE AAA (FD)  80000   Reaffirmed
                                      programme

LONG TERM RATINGS:
-------------------
Adlabs Entertainment Ltd              LT Bk Fac –TL      CARE D         10158.4 Revised from
                                                                                CARE BBB-
Aircel Cellular Ltd                   LT Bk Fac*         CARE BBB+ (SO) 174790  Downgraded
                                                                                from CARE A-
                                                                                (SO)
*Part of Group facilities (interchangeable between Aircel Limited, 
Aircel Cellular Limited, Dishnet Wireless Limited and Aircel Smart Money Limited)
Wireless Limited and Aircel Smart Money Limited)
Aircel Ltd                            LT Bk Fac*         CARE BBB+ (SO) 174790  Downgraded
                                                                                from CARE A-
                                                                                (SO)
*Part of Group facilities (interchangeable between Aircel Limited, 
Aircel Cellular Limited, Dishnet Wireless Limited and Aircel Smart Money Limited)
Aircel Smart Money Ltd                LT Bk Fac*         CARE BBB+ (SO) 174790  Downgraded
                                                                                from CARE A-
                                                                                (SO)
*Part of Group facilities (interchangeable between Aircel Limited, 
Aircel Cellular Limited, Dishnet Wireless Limited and Aircel Smart Money Limited)
Asia Pacific Resources Pvt Ltd        Long/ST Bk Fac     CARE BBB-      250     Assigned
                                      (fund              /CARE A3
                                      based/non-fund based)
Bloomfex Pvt Ltd                      LT Bk Fac          CARE B+;               Issuer not
                                                                                cooperating
Brewster Ifmr Capital 2017 (Originator Series A1 PTC     Provisional            Assigned
Asirvad Microfinance Ltd)                                CARE A (SO)
Celestial Solar Solutions Pvt Ltd     LT Bk Fac          CARE BBB       580     Assigned
Dewan Housing Finance Corporation Ltd Perpetual Debt     CARE AA        8000    Reaffirmed
Dewan Housing Finance Corporation Ltd Subordinated Debt  CARE AA+       22050   Reaffirmed
Dewan Housing Finance Corporation Ltd Non-convertible    CARE AA+(RPS)  7500    Reaffirmed
                                      Redeemable
                                      Cumulative Preference share
Dewan Housing Finance Corporation Ltd NCDs               CARE AAA       176551.2Reaffirmed
Dewan Housing Finance Corporation Ltd NCDs (Public Issue)CARE AAA       140000  Reaffirmed
Dewan Housing Finance Corporation Ltd LT Bk Fac          CARE AAA       427138  Reaffirmed
Dishnet Wireless Ltd                  LT Bk Fac*         CARE BBB+ (SO) 174790  Downgraded
                                                                                from CARE A-
                                                                                (SO)
*Part of Group facilities (interchangeable between Aircel Limited, 
Aircel Cellular Limited, Dishnet Wireless Limited and Aircel Smart Money Limited)
E R Automotives Ltd                   LT Bk Fac                                 Withdrawn
Esteem Industries Inc                 LT Bk Fac          CARE B+        12      Assigned
Gayatri Seafoods And Feeds Pvt Ltd    LT Bk Fac          CARE BB        185     Assigned
Infutec Healthcare Ltd                LT Bk Fac          CARE D         716.2   Rating
                                                                                suspension
                                                                                revoked 
                                                                                and revised 
                                                                                from CARE B+
Infutec Healthcare Ltd                LT/ ST Bk Fac      CARE D         145     Rating
                                                                                suspension
                                                                                revoked 
                                                                                and revised
                                                                                from 
                                                                                CARE B+ 
                                                                                /CARE A4
Jagdish Agro Foods                    LT Bk Fac                                 Withdrawn
Jagdish Agro Foods                    LT/ ST Bk Fac                             Withdrawn
Maruti Educational Trust              LT Bk Fac          CARE BB                Assigned
Mulanur Renewable Energy Pvt Ltd      LT Bk Fac          CARE BBB+;     1288.4  Assigned
Shinie Impex                          LT Bk Fac                                 Withdrawn
Shri Kedareshwar Builders And         LT Bk Fac          CARE B+        798.8   Assigned
Developers Pvt Ltd
Skm Egg Products Export (India) Ltd   Long/ST Bk Fac     CARE BBB /CARE         Reaffirmed
                                                         A3
Sree Veerabhadreshwara Rice And Flour LT Bk Fac          CARE B+;       100     Assigned
Mills
Sri Scl Infatech Ltd                  LT Bk Fac          CARE BB        310     Revised from
                                                                                CARE B+
Sri Scl Infatech Ltd                  LT/ ST Bk Fac      CARE BB /CARE  220     Revised from
                                                         A4                     CARE B+/)
                                                                                CARE A4
Suraj Marbles Pvt Ltd                 LT/ST Bk Facilitie CARE BB- /CARE         Assigned
                                                         A4
Tamilnadu State Transport Corporation LT Bk Fac          CARE B         150     Reaffirmed
(Coimbatore) Ltd
Tirupati Agro Product                 LT Bk Fac          CARE BB        39.9    Reaffirmed
Vilas Polymer Ltd                     LT Bk Fac                                 withdrawn
Warbler Cv Ifmr Capital 2017          Series A1 PTC      Provisional            Assigned
(Originator: Ikf Finance Ltd)                            CARE A (SO)
Warbler Cv Ifmr Capital 2017          Series A2 PTC      Provisional            Assigned
(Originator: Ikf Finance Ltd)                            CARE BBB+ (SO)
Warbler Cv Ifmr Capital 2017          Series A2 PTC      Provisional            Assigned
(Originator: Ikf Finance Ltd)                            CARE BBB+ (SO)
--------------------------------------------------------------------------------------------
$: 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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