April 17, 2018 / 6:51 AM / 6 days ago

CARE ratings for Indian debt instruments-Apr 17

    Apr 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 16, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Asian Tea And Export Ltd              ST Bk Fac          CARE A3        32.5    Assigned
Gem Motors India Pvt Ltd              ST Bk Fac          CARE A4        50      Assigned
Kekule Pharma Ltd                     ST Bk Fac          CARE A3        120     Assigned
Ncml Finance Pvt Ltd (Nfin)           CP Issue (Proposed)CARE A1+       2000    Assigned
Rivipac Polymers Pvt Ltd              ST Bk Fac          CARE A4        1.9     Assigned
Sabve Rohini Contractors Pvt Ltd      ST Bk Fac          CARE A4        45      Assigned
Shree Ganga Paddy Processors          ST Facility        CARE A4        32.5    Assigned
V Thirupathi Naidu                    ST Bk Fac          CARE A4        30      Assigned
Kohinoor Foods Ltd                    ST Bk Fac          CARE D         7473    Revised from
                                                                                CARE A4 
Plastene Polyfilms Ltd                ST Bk Fac          -              -       Withdrawn
Swastik Enterprises                   ST Bk Fac          -              -       withdrawn
                                                                                CARE A4

LONG TERM RATINGS:
-------------------
Ampl Cleantech (P) Ltd                LT Bk Fac          CARE A         2620    Assigned
Ampl Cleantech (P) Ltd                Long/ST Bk Fac     CARE A / A2+   500     Assigned
Asian Tea And Export Ltd              LT Bk Fac          CARE BBB-      47.5    Assigned
Batsons Textiles                      LT Bk Fac          -              -       withdrawn
Doaba Khalsa Trust                    LT Bk Fac          CARE D         312     Assigned
Fullerton India Credit Co. Ltd        NCDs               CARE AAA       40000   Reaffirmed
Fullerton India Credit Co. Ltd        Subordinated Debt  CARE AAA       6000    Reaffirmed
Gem Motors India Pvt Ltd              LT Bk Fac          CARE B+        197.8   Assigned
Golden Prince Wines Pvt Ltd           LT Bk Fac          CARE BBB       250     Assigned
Il&Fs Infrastructure Debt Fund        Infrastructure     CARE AAA       -       Reaffirmed
                                      debt fund Scheme   (MF-IDF)
                                      Series 1-A
Il&Fs Infrastructure Debt Fund        Infrastructure     CARE AAA       -       Reaffirmed
                                      debt fund Scheme   (MF-IDF)
                                      Series 1-B
Il&Fs Infrastructure Debt Fund        Infrastructure     CARE AAA       -       Reaffirmed
                                      debt fund Scheme   (MF-IDF)
                                      Series 1-C
Kekule Pharma Ltd                     LT Bk Fac          CARE BBB-      156.5   Assigned
Kissan Solvex Pvt Ltd                 LT Bk Fac          CARE B+        140     Assigned
Kohinoor Foods Ltd                    LT Bk Fac          CARE D         1995    Revised from
                                                                                CARE BB
Krishnapatnam Port Co. Ltd            LT Bk              CARE A         53586.6 Reaffirmed
                                      FacRefinanced
                                      facility-TL
Krishnapatnam Port Co. Ltd            LT Bk Fac –        CARE A         5839.6  Reaffirmed
                                      External
                                      commercial borrowing
Krishnapatnam Port Co. Ltd            LT Bk Fac – CC     CARE A         2000    Reaffirmed
Krishnapatnam Port Co. Ltd            LT/ST Bk Fac-BGs   CARE A/A1      2000    Reaffirmed
Mahindra Rural Housing Finance Ltd    NCD issue          CARE AA+       2000    Reaffirmed
Mahindra Rural Housing Finance Ltd    Subordinated Debt  CARE AA+       3000    Reaffirmed
Patna Sahib Charitable Educational TruLT Bk Fac          CARE D         217.5   Assigned
Plastene Polyfilms Ltd                LT Bk Fac          -              -       Withdrawn
Plastene Polyfilms Ltd                LT/ ST Bk Fac      -              -       Withdrawn
Rivipac Polymers Pvt Ltd              LT Bk Fac          CARE B         43.2    Assigned
Rivipac Polymers Pvt Ltd              LT /ST Bk Fac      CARE B/A4      28.5    Assigned
Sabve Rohini Contractors Pvt Ltd      LT Bk Fac          CARE BB-       45      Assigned
Sadbhav Infrastructure Project Ltd    NCD Issue #        Provisional    3600    Assigned
                                                         CARE A+ 
# The above instruments are proposed to be backed by unconditional and irrevocable corporate
guarantee to be extended by Sadbhav Engineering Limited (SEL; rated CARE A+; Stable/CARE A1+).
The rating shall be confirmed upon receipt of debenture trust deed, deed of guarantee and other
documents to the satisfaction of CARE Ratings Limited.
Shree Ganga Paddy Processors          LT Bk Facility     CARE B         17.5    Assigned
Swastik Enterprises                   LT Bk Fac          -              -       withdrawn
V Thirupathi Naidu                    LT Bk Fac          CARE BB-       30      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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