April 23, 2018 / 4:13 AM / a month ago

CARE ratings for Indian debt instruments-Apr 23

    Apr 23 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 20, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Alpa Laboratories Ltd                 ST Bk Fac          CARE A3        30      Assigned
Dawer Sons Pvt Ltd                    ST Bk Fac          CARE A4        15      Assigned
Icoat Projects Pvt Ltd                ST Bk Fac          CARE A4        80      Assigned
Jind Industrial And Manufacturing WorkST Bk Fac          CARE A4        3       Assigned
Pvt. Ltd.
Rsv Constructions Pvt Ltd             ST Bk Fac          CARE A4+       160     Assigned
Shaarc Projects Ltd                   ST Bk Fac          -              -       Withdrawn
Sunil Hitech Engineers Ltd.           ST Bk Fac          -              -       Withdrawn#
                                      (Proposed LOC)
#there facilities are being withdrawn as the limits were proposed and not sanctioned by the
bankers
Sunil Hitech Engineers Ltd.           ST Bk Fac          CARE A4        4210
Revised from CARE A2+ ; (reduced from 558.50 Crore)
The Trinity Group                     ST Bk Fac          CARE A4        145     Assigned

MEDIUM TERM RATINGS:
-------------------
The Ugar Sugar Works Ltd              Fixed Deposit      -              -       Withdrawn
                                      programme

LONG TERM RATINGS:
-------------------
Alpa Laboratories Ltd                 Long- term/ ST Bk  CARE BBB-/A3   120     Assigned
                                      Fac
Cedar Inclusive Finance Trust 2       Series A2 PTCs     CARE A (SO)    -       Provisional
(Originator: Esaf Small Finance Bank
Ltd)
Cedar Inclusive Finance Trust 2       Series A1 PTCs     CARE AA- (SO)  -       Provisional
(Originator: Esaf Small Finance Bank
Ltd)
Cedar Inclusive Finance Trust 2       Series A3 PTCs     CARE BBB+ (SO) -       Provisional
(Originator: Esaf Small Finance Bank
Ltd)
Dabra Agro Pvt Ltd                    LT Bk Fac          CARE B+        240     Assigned
Dawer Sons Pvt Ltd                    LT Bk Fac          CARE BB-       70      Assigned
Gayatri Agro Oil And Food Products    LT Bk Fac          CARE BB        126.1   Assigned
Icoat Projects Pvt Ltd                LT Bk Fac          CARE BB-       40      Assigned
Jind Industrial And Manufacturing WorkLT Bk Fac          CARE B+        63.7    Assigned
Pvt. Ltd.
Metal'S & Metal (Electric) Pvt Ltd    LT Bk Fac          CARE BB-       130     Assigned
Morgan Credits Pvt Ltd                Proposed NCD issue CARE A-        11000   Assigned
Prem Narayan Rameshwar Dayal          LT Bk Fac          CARE B         99      Assigned
Punjab National Bank                  Corporate          -              -       Withdrawn
                                      Governance Rating
Rsv Constructions Pvt Ltd             LT Bk Fac          CARE BB+       185     Assigned
Saptam Decore Pvt Ltd                 LT Bk Fac          CARE BB-       400     Assigned
Sathwik Exports                       LT Bk Facility     CARE B+        55      Assigned
Shaarc Projects Ltd                   LT Bk Fac          -              -       Withdrawn
Shaarc Projects Ltd                   LT/ST Bk Fac       -              -       Withdrawn
Sky Alloys & Power Pvt. Ltd.          LT Bk Fac          CARE D         150     Assigned
Sunil Hitech Engineers Ltd.           LT Bk Fac          -              -       Withdrawn#
                                      (Proposed TL)
#there facilities are being withdrawn as the limits were proposed and not sanctioned by the
bankers
Sunil Hitech Engineers Ltd.           LT Bk Fac          -              -       Withdrawn#
                                      (Proposed CC)
#there facilities are being withdrawn as the limits were proposed and not sanctioned by the
bankers
Sunil Hitech Engineers Ltd.           Long/ST Bk Fac     -              -       Withdrawn#
                                      (Proposed BG)
#there facilities are being withdrawn as the limits were proposed and not sanctioned by the
bankers
Sunil Hitech Engineers Ltd.           LT Bk Fac (TL)     CARE BB        200
Revised from CARE A-; (reduced from 70.00 Crore)
Sunil Hitech Engineers Ltd.           LT Bk Fac (CC)     CARE BB        3920
Revised from CARE A-; (reduced from 439.50 Crore)
Sunil Hitech Engineers Ltd.           Long/ST Bk Fac     CARE BB/A4     11380
Revised from CARE A-/ CARE A2+ ; (reduced from 1375.00 Crore)
Tejankar Healthcare And Medical       LT Bk Fac          CARE B         140.2   Reaffirmed
Research Institute Pvt Ltd
The Trinity Group                     LT Bk Fac          CARE BB        5       Assigned
Vaibhav Cotex Pvt Ltd                 LT Bk Fac          CARE B+        107     Reaffirmed
(enhanced from Rs.6.59 Crore)
--------------------------------------------------------------------------------------------
$: 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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