April 16, 2018 / 6:13 AM / 6 days ago

CARE ratings for Indian debt instruments-Apr 16

    Apr 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 13, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Jm Financial Capital Ltd              CP (IPO Financing) CARE A1+       3000    Assigned
Jm Financial Products Ltd             CP (IPO Financing) CARE A1+       5000    Assigned
Jm Financial Properties And Holdings LCP (for IPO        CARE A1+       40000   Assigned
                                      financing)
Koley Multipurpose Himghar Pvt Ltd    ST Bk Facility     CARE A4        2       Assigned
Northern Electric Cables Pvt Ltd      ST Bk Fac          CARE A4        46      Assigned
Omsai Udyog India Pvt Ltd             ST Bk Fac          CARE A4+       100     Assigned
Sadbhav Engineering Ltd               CP (standalone)    CARE A1        550     Assigned
Utkal Metallics Ltd                   ST Bk Fac          CARE A4        4       Assigned

LONG TERM RATINGS:
-------------------
Begonia Mfi Northern Arc              Series A1 PTC      CARE A (SO)    -       Assigned
2018-(Originator: Fusion Microfinance
Pvt Ltd)
Begonia Mfi Northern Arc              Series A2 PTC      CARE BBB (SO)  -       Assigned
2018-(Originator: Fusion Microfinance
Pvt Ltd)
Bharat Financial Inclusion Ltd        LT / ST Bk Fac     CARE A+/A1+    75000   -
(Continues on credit watch with positive implications)
Bhatia Wine Merchants Pvt Ltd         LT Bk Fac          CARE BBB       500     Assigned
Brightstar Healthcare Pvt Ltd         LT Bk Fac          CARE B         300     Assigned
Cleantech Solar Energy (India) Pvt LtdLT Bk Fac          CARE BBB-      390     Assigned
Dual Rings Pvt Ltd                    LT Bk Facility     CARE BB-       70      Assigned
Gn Poultry Farms                      LT Bk Facility     CARE B         60      Assigned
Gupta Agro Products                   LT Bk Fac          CARE B+        75      Assigned
Indiana International Corporation     LT Bk Fac          CARE BB-       61.5    Assigned
Flooring Pvt Ltd
Koley Multipurpose Himghar Pvt Ltd    LT Bk Facility     CARE B+        121.9   Reaffirmed
(Enhanced from 7.86 Crores)
Lakshmi Tobaccos                      LT Bk Fac          CARE B+        99      Assigned
Lodha Finserv Pvt Ltd                 LT Bk Fac          CARE BBB       500     Assigned
Mimir Ifmr Capital 2018 (Originator:  Series A1 PTC      CARE A- (SO)   -       Assigned
Midland Microfin Ltd)
Mimir Ifmr Capital 2018 (Originator:  Series A2 PTC      CARE BBB+ (SO) -       Assigned
Midland Microfin Ltd)
Muktsar Cotton Pvt Ltd                LT Bk Fac          CARE B+        100     Assigned
Northern Electric Cables Pvt Ltd      LT Bk Fac          CARE BB-       84      Assigned
Omsai Udyog India Pvt Ltd             LT Bk Fac          CARE BB        120     Assigned
Orange Automotive Pvt Ltd             LT Bk Fac          CARE BB-       95      Assigned
Satin Creditcare Network Ltd          LT Bk Fac          CARE BBB+      28000   Reaffirmed
(enhanced from 2200 Crores)
Satin Creditcare Network Ltd          NCDs(Proposed)     CARE BBB+      5000    Assigned
Small Industries Development Bank Of  Unsecured Bonds    CARE AAA       329500  Reaffirmed
India
(enhanced from Rs.17,950 Crores)
Utkal Metallics Ltd                   LT Bk Fac          CARE B+        73      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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