August 11, 2017 / 4:26 AM / in 2 months

CARE ratings for Indian debt instruments-Aug 11

    Aug 11 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 10, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Cetex Petrochemicals Ltd              ST Bk Fac          CARE A3        150     Reaffirmed
Global Tech (India) Pvt Ltd           ST Bk Fac          CARE A4        40      Assigned
Gtn Enterprises Ltd                   ST Bk Fac          CARE A4        910     Reaffirmed
Kalinga Media & Entertainment Pvt Ltd ST Bk Fac          CARE A1(SO)    46.3    Assigned

(enhanced from 4.50 CR)
New Delhi Television Ltd              ST Bk Fac          CARE A3        40      Revised from
                                                                                CARE A2+
Reliance Jute Mills (International)   ST Bk Fac          CARE A4        70      Reaffirmed
Ltd
(reduced from Rs.12.0 crore)
Smruthi Organics Ltd                  ST Bk Fac (Non     CARE A4        130     Reaffirmed
                                      Fund based)
(enhanced from 10.00 crore)
Tata International Ltd                CP                 CARE A1        2500    Assigned
Tata International Ltd                CP (Carved Out)*   CARE A1(SO)    500     Assigned

LONG TERM RATINGS:
-------------------
Aditya Educational Society            LT Bk Fac          CARE BBB-      1374    Assigned
Asha Enterprises                      LT Bk Fac          CARE B+        80      Assigned
Cetex Petrochemicals Ltd              LT Bk Fac          CARE BBB       669     Reaffirmed
(reduced from 136.49 CR)
Cetex Petrochemicals Ltd              Long/ST Bk Fac –   CARE BBB /CARE 230     Reaffirmed
                                      Non Fund Based BG  A3
                                      Limits
Dena Bank                             Perpetual Bonds    CARE A         1250    Reaffirmed
Dena Bank                             Tier II Bonds      CARE A+        8000    Revised from
                                      (Basel III                                CARE AA-
                                      compliant)
Dena Bank                             Lower Tier II      CARE A+        2000    Revised from
                                      Bonds - Series XI                         CARE AA-
Dena Bank                             Lower Tier II      CARE A+        12000   Revised from
                                      Bonds – Series XII                        CARE AA-
Dena Bank                             Tier II Bonds      CARE A+        4000    Revised from
                                      (Basel III                                CARE AA-
                                      compliant)
Dena Bank                             Basel III          CARE BBB+      10000   Reaffirmed
                                      Compliant
                                      Additional Tier I Perpetual Bonds
Dena Bank                             Basel III          CARE BBB+      4000    Reaffirmed
                                      Compliant
                                      Additional Tier I Perpetual Bonds
Drive India Enterprise Solutions Ltd  LT/ST Bk Fac       CARE BBB /CARE 1650    Assigned
                                                         A3+
G. R. Multiflex Packaging Pvt Ltd.    LT Bk Fac          CARE D         120     Revised from
                                                                                CARE B+
Gauri Shankar Rice Mills              LT Bk Fac          CARE B+        50      Assigned
Global Tech (India) Pvt Ltd           LT Bk Fac          CARE B+        20      Assigned
Gtn Enterprises Ltd                   LT Bk Fac          CARE BB-       182.7   Revised from
                                                                                CARE B
(reduced from 18.80 CR)
Indiabulls Properties Pvt Ltd         Long/ST Bk Fac –   CARE
                                      Non Fund Based BG  AA-(SO);Stable/CARE A1+(SO)
                                      Limits
--------------------------------------------------------------------------------------------
$: 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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