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CARE ratings for Indian debt instruments-Aug 21
August 21, 2017 / 5:31 AM / 3 months ago

CARE ratings for Indian debt instruments-Aug 21

    Aug 21 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 18, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Besco Ltd (Foundry Division)          ST Bk Fac          CARE A4        27.7    Assigned
Chomu Chandwaji Tollways Pvt Ltd      ST Bk Fac          CARE A4        20      Assigned
D And M Cables Pvt Ltd                ST Bk Fac          CARE A4        15      Assigned
Danopharm Chemicals Pvt Ltd           ST Bk Fac          CARE A3        75      Revised from
                                                                                CARE A4
Fab Tool Industries                   ST Bk Fac          CARE A4        8       Assigned
K G Denim Ltd                         ST Bk Fac          CARE A3        1545.2  Reaffirmed
(enhanced from 133.20 CR)
Kalyani Steels Ltd                    ST Bk Fac          CARE A1+       5000    Reaffirmed
Kalyani Steels Ltd                    CP                 CARE A1+       750     Reaffirmed
Ksh International Pvt Ltd             ST Bk Fac          CARE A3+       100     Revised from
                                                                                CARE A3
Lipi Data Systems Ltd                 ST Bk Fac          CARE A3        1550    Reaffirmed
National Bulk Handling Corporation PvtST Bk Fac          CARE A1+       3325    Reaffirmed
Ltd
National Bulk Handling Corporation PvtCP(CP)             CARE A1+       3500    Reaffirmed
Ltd

LONG TERM RATINGS:
-------------------
Behl Motors Pvt Ltd                   LT Bk Fac          CARE BB-       90      Assigned
Besco Ltd (Foundry Division)          LT Bk Fac          CARE BB        117.3   Assigned
Chomu Chandwaji Tollways Pvt Ltd      LT Bk Fac          CARE BB        255     Assigned
D And M Cables Pvt Ltd                LT Bk Fac          CARE BB-       85      Assigned
Danopharm Chemicals Pvt Ltd           LT Bk Fac          CARE BBB-      75      Revised from
                                                                                CARE BB+
Dhanraj Diamond                       LT Bk Fac          CARE B+        110     Assigned
Ds Agrifoods Pvt Ltd                  LT Bk Fac          CARE B+        149.8   Reaffirmed
(Reduced from 15 CR)
Fab Tool Industries                   LT Bk Fac          CARE BB-       63      Assigned
Holistic Remedies Pvt Ltd             LT Bk Fac          CARE B         60      Assigned
Inox Wind Infrastructure Services Ltd LT Bk Fac – CC*    CARE A-(SO)    750     Revised from
                                                                                CARE AA-(SO)
*Backed by an unconditional and irrevocable corporate guarantee provided by Inox Wind Limited.
Inox Wind Infrastructure Services Ltd NCDs^              CARE A-(SO)    1462.5  Revised from
                                                                                CARE AA-(SO)
(reduced from 200 CR),^Backed by unconditional and irrevocable corporate guarantee provided by
Inox Wind Limited and a structured payment mechanism.
Inox Wind Ltd                         LT Bk Fac          CARE A-        2595.8  Revised from
                                                                                CARE AA-
Intec Capital Ltd                     CP (CP)            -              -       Withdrawn
Intec Capital Ltd                     LT Bk Fac          CARE BB        3091.5  Revised from
                                                                                CARE BBB-
Intec Capital Ltd                     NCD                CARE BB        40.1    Revised from
                                                                                CARE BBB-
K G Denim Ltd                         LT Bk Fac          CARE BBB-      1122.4  Reaffirmed
(enhanced from 93.25 CR)
Kalyani Steels Ltd                    LT Bk Fac          CARE AA        2356    Reaffirmed
Kamal Ideal Infratech Pvt Ltd         LT Bk Fac          CARE BB-       157.9   Revised from
                                                                                CARE BB-
Ksh International Pvt Ltd             LT Bk Fac          CARE BBB+      863.1   Revised from
                                                                                CARE BBB
(enhanced from Rs.56.29 crore)
Lipi Data Systems Ltd                 LT Bk Fac          CARE BBB-      340     Revised from
                                                                                CARE BBB
Lipi Data Systems Ltd                 LT/ST Bk Fac       CARE BBB-      200     Revised from
                                                         /CARE A3               CARE BBB /
                                                                                CARE A3
M.S. Reddy                            LT Bk Fac          CARE B+        74      Assigned
National Bulk Handling Corporation PvtLT Bk Fac          CARE A+        2119.5  Reaffirmed
Ltd
National Bulk Handling Corporation PvtLT / ST Bk Fac     CARE A+ /CARE  3600    Reaffirmed
Ltd                                                      A1+
Oriental Bank Of Commerce             Proposed - Basel   CARE A         10000   Assigned
                                      III Compliant
                                      Additional Tier I Bonds
R M Rocks & Sand Pvt Ltd              LT Bk Fac          CARE B         80      Assigned
Shrivallabh Pittie Industries Ltd     LT Bk FacTL        CARE BBB-      2750    Revised from
                                                                                CARE BB+
ISSUER NOT COOPERATING
Solan Spinning Mills Pvt Ltd          LT Bk Fac          CARE B+        85      Assigned
Tata Cleantech Capital Ltd            Proposed NCDs      CARE AA+       2000    Assigned
United Constructions And Projects     LT Bk Fac          CARE B+        106     Assigned
(Bangalore) Pvt Ltd
--------------------------------------------------------------------------------------------
$: 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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