April 12, 2018 / 6:32 AM / 3 months ago

CARE ratings for Indian debt instruments-Apr 12

    Apr 12 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 11, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Banik Rubber Industries (India) Pvt   CP*                CARE A1        100     Assigned
Ltd 
*carved out of SBI cash credit limit of Rs.21.00 cr/ Drawing Power whichever is lower
Escorts Heart Institute And Research  ST Bk Fac          CARE A4        250     Revised from
Centre Ltd                                                                      CARE A2
(Removed from Credit watch with Negative Implications)
Fortis Healthcare Ltd                 ST Fac             CARE A4        560     Revised from
                                                                                CARE A2
(Removed from Credit watch with Negative Implications)
Fortis Healthcare Ltd                 CPs                CARE A4        6000    Revised from
                                                                                CARE A2
(Removed from Credit watch with Negative Implications)
India Commercial Services             ST Bk Fac          CARE A4+       210     Assigned
Inmark Retail Pvt Ltd                 ST Bk Fac – Non    -              -       Withdrawn @
                                      Fund Based
@short term rating is withdrawn as the same is not renewed by the bank
Integrated Service Point Pvt Ltd      ST Bk Fac          CARE A4+       100     Assigned
Kalsi Brothers                        ST Bk Fac          CARE A4        130     Assigned
Maa Annapurna Sheet Grah              ST Bk Fac          CARE A4        2.1     Reaffirmed
Masturlal Fabrichem Pvt Ltd           ST Bk Fac          CARE A4        22      Assigned
Mysore Engineers (India) Pvt Ltd      ST Bk Fac          CARE A4        50      Assigned
Pitambara Foods                       ST Bk Facility     CARE A4        25      Assigned
Pragya Electric And Electronics       ST Bk Fac          CARE A4        50      Assigned
Corporation
PV Knit Fashions                      ST Bk Fac          CARE A4        31.5    Assigned
Sahapur Cold Storage                  ST Bk Facility     CARE A4        1       Assigned
Saisanket Enterprises                 ST Bk Fac          CARE A3        28      Assigned
Shree Ramkrishna Exports Pvt Ltd      ST (Non-Fund Based)CARE A1        1144.3  Assigned
(enhanced from nil)
Tubas Wire And Conductor Pvt Ltd      ST Bk Fac          CARE A4        20      Assigned
V And S International Pvt Ltd         ST Bk Fac          CARE D         5       Assigned

LONG TERM RATINGS:
-------------------
Annapurna Cotex Pvt Ltd               LT Bk Fac          CARE BB        110     Assigned
Baba Kailashpati Agro Processing Pvt  LT Bk Fac          CARE B         155.9   Reaffirmed
Ltd 
(Reduced from 15.69crs)
Brigade Gujarat Properties Pvt Ltd    LT Bk Fac          CARE A-        800     Assigned
(reduced from 100.00crs)
Escorts Heart Institute And Research  LT Bk Fac          CARE C         280     Revised from
Centre Ltd                                                                      CARE BBB+
(Removed from Credit watch with Negative Implications)
Fortis Healthcare Ltd                 LT Fac             CARE C         1440    Revised from
                                                                                CARE BBB+
(Removed from Credit watch with Negative Implications)
Goel Food Products                    LT Bk Fac          CARE B+        80.3    Assigned
Hariom Traders                        LT Bk Facility     CARE B+        120     Assigned
India Commercial Services             LT Bk Fac          CARE BB        40      Assigned
Indian Art Gallery                    LT / ST Bk Fac     CARE BB+ /CARE 75      Assigned
                                                         A4+
Inmark Retail Pvt Ltd                 LT Bk Fac - TL     CARE B         139     Revised from
                                                                                CARE BB(SO)
Inmark Retail Pvt Ltd                 LT Bk Fac -Fund    CARE B         51.5    Revised from
                                      Based                                     BB (SO)
Integrated Service Point Pvt Ltd      LT Bk Fac          CARE BB-       135     Assigned
Jm Financial Capital Ltd              CP Issue (IPO      -              -       Withdrawn
                                      Financing)
Jm Financial Products Ltd             CP Issue (IPO      -              -       Withdrawn
                                      Financing)
Jm Financial Properties And Holdings LCP (IPO financing) -              -       Withdrawn
Kalsi Brothers                        LT Bk Fac          CARE BB-       150     Assigned
Maa Annapurna Sheet Grah              LT Bk Fac          CARE B+        107.3   Revised from
                                                                                CARE B
(reduced from 11.11crs)
Masturlal Fabrichem Pvt Ltd           LT Bk Fac          CARE BB-       58      Assigned
Masturlal Fabrichem Pvt Ltd           Long / ST Bk Fac   CARE BB-       100     Assigned
                                                         /CARE A4
Mysore Engineers (India) Pvt Ltd      LT Bk Fac          CARE BB-       125     Assigned
Naman Cotton                          LT Bk Fac          CARE BB-       70      Assigned
Pitambara Foods                       LT Bk Facility     CARE B+        55      Assigned
Pragya Electric And Electronics       LT Bk Fac          CARE BB-       24      Assigned
Corporation
Pv Knit Fashions                      LT Bk Fac          CARE BB-       56      Assigned
Sahapur Cold Storage                  LT Bk Facility     CARE B         55.9    Assigned
Saisanket Enterprises                 LT Bk Fac          CARE BBB-      60      Assigned
Shree Kaushalya Fibers                LT Bk Fac          CARE B+        51.4    Assigned
Shree Ramkrishna Exports Pvt Ltd      Long / ST (Fund    CARE A+ /CARE  16539.8 Reaffirmed
                                      Based)             A1
(reduced from 1700crs )
Srb International Pvt Ltd             LT Bk Fac          CARE BB        100     Assigned
Sunlit Elements Pvt Ltd               LT Bk Fac          CARE B+        95      Assigned
Tarini Ifmr Capital 2017-Originator:  Series A1 PTCs     -              -       Withdrawn
Home Credit India Finance Pvt Ltd. 
Tarini Ifmr Capital 2017-Originator:  Series A2 PTCs     -              -       Withdrawn
Home Credit India Finance Pvt Ltd. 
Tubas Wire And Conductor Pvt Ltd      LT Bk Fac          CARE B+        42.5    Assigned
V And S International Pvt Ltd         LT Bk Fac          CARE D         345     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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