April 17, 2019 / 4:13 AM / in 9 days

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, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Balaji Construction Company           ST Bk Fac          CARE A4        180     Assigned
Maa Chandi Nirman Company             ST Bk Fac          CARE A4        50      Assigned
Mohite Industries Ltd                 ST Bk Fac          CARE A4        20      Assigned
Shantai Exim Ltd                      ST Bk Fac          CARE A4        140     Assigned
Shesadri Rice Mill                    ST Bk Fac          CARE A4        0.9     Assigned
Shree Ambica Agro Industries Pvt Ltd  ST Bk Fac          CARE A4        10      -
(Issuer not cooperating)
Vision Diagnostic India Pvt Ltd       ST Bk Fac          CARE A4+       20      Assigned
Agrawal Distilleries Pvt Ltd          ST Bk Fac          -              -       Withdrawn



LONG TERM RATINGS:
-------------------
Agrawal Distilleries Pvt Ltd          LT Bk Fac          -              -       Withdrawn
Akshara Enterprises India Pvt Ltd     LT Bk Fac          CARE BB+       219.3   Assigned
Akshara Enterprises India Pvt Ltd     LT/ST Bk Fac       CARE BB+/A4+   280.7   Assigned
Balaji Construction Company           LT Bk Fac          CARE BB        118     Assigned
Ecl Finance Ltd                       NCD                CARE AA        20000   Assigned
Hazaribagh Ranchi Expressway Ltd      Senior NCD issue   CARE D         4580    Revised from
                                      (NCD) - Series A                          CARE C
Hazaribagh Ranchi Expressway Ltd      Subordinate NCD    CARE D         1430    Revised from
                                      issue (NCD) -                             CARE C
                                      Series B
Inarco Pvt Ltd                        LT Bk Fac          CARE BBB       87.3    Assigned
Inarco Pvt Ltd                        LT/ST Bk Fac       CARE BBB/A3+   50      Assigned
Janatha Ocean Products                LT Bk Fac          CARE BB-       50      Assigned
Kpi Global Infrastructure Ltd         LT/ ST Fac         CARE BBB-/A3   60      Assigned
Maa Chandi Nirman Company             LT Bk Fac          CARE BB-       20      Assigned
Mohite Industries Ltd                 LT Bk Fac          CARE BB        220     Assigned
Mohite Industries Ltd                 Proposed Long/ST   CARE BB/A4     10      Assigned
                                      Bk Fac
Pacific Plastic Industries            LT / ST Bk Fac     CARE B+ /CARE  50      Assigned
                                                         A4
Pipeline Infrastructure Pvt Ltd       Proposed NCD issue CARE AAA       64520   Assigned
Radha Casting And Metalik Pvt Ltd     LT Bk Fac          CARE B         40      -
(Issuer not cooperating)
Shantai Exim Ltd                      LT Bk Fac          CARE C         70      Assigned
Shesadri Rice Mill                    LT Bk Fac          CARE BB-       81.1    Assigned
Shree Ambica Agro Industries Pvt Ltd  LT Bk Fac          CARE B+        92.7    Revised from
                                                                                CARE BB-
Sohum Foods Pvt Ltd                   LT Bk Fac          CARE BB-       119.7   Assigned
Sri Balaji Hospital                   LT Bk Fac          CARE B         100     Assigned
Suncity Realtors Pvt Ltd              LT Bk Fac@         CARE BBB-      593.7   Assigned
@ Backed by credit enhancement in the form of unconditional and irrevocable letter of comfort
(LOC) provided by Suncity Projects Private Limited (SPPL; rated ‘CARE BBB; Stable / CARE A3’)
Vip Enterprise Pvt Limite             LT Bk Fac          CARE B+        55      Assigned
Vision Diagnostic India Pvt Ltd       LT Bk Fac          CARE BB        80      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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