August 23, 2017 / 6:31 AM / a year ago

CARE ratings for Indian debt instruments-Aug 23

   Aug 23 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 22, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
-------                               ----------         ------        -------  ---------
Corporate Fashion Pvt Ltd             ST Bk Fac          CARE A4        5
Issuer not cooperating
Nayaab Jewels                         ST Bk Fac          CARE D         2.7     Revised from
                                                                                CARE A4
Indostar Capital Finance Ltd          CP                 CARE A1+       17500   Reaffirmed
Panchmahal Steel Ltd                  ST Bk Fac          CARE A4+       920     Reaffirmed
Vishnu Cotton Mills Ltd               ST Bk Fac          CARE A4+       61.1    Revised from
                                                                                CARE A4
U & T Tractor Spares Pvt Ltd          ST Bk Fac                                 Withdrawn

B.J. Grain                            LT Bk Fac          CARE D         60      Revised from
                                                                                CARE B+
Corporate Fashion Pvt Ltd             LT Bk Fac          CARE BB-       54.6
Issuer not cooperating
Greenland Motors                      LT Bk Fac          CARE BB-       300     Assigned
Greenlands A&M Corporation            LT Bk Fac          CARE BB-       280     Assigned
Greenlands A&M Corporation            Long/ ST Bk Fac    CARE BB-/CARE  20      Assigned
Indostar Capital Finance Ltd          LT Debt Programme  CARE AA-       37500   Reaffirmed
Ishwar Oil Industries                 LT Bk Fac          CARE D         55.3    Revised from
                                                                                CARE B+
Issuer not cooperating
Madhya Bharat Telecom Infrastructures LT Bk Fac          CARE BB+       150     Assigned
Madhya Bharat Telecom Infrastructures LT/ST Bk Fac       CARE BB+/CARE  180     Assigned
Mahaveer Finance India Ltd            LT Bk Fac          CARE BB+       750     Reaffirmed
Mahaveer Finance India Ltd            NCD issue          CARE BB+       200     Assigned
Mercury Car Rentals Pvt Ltd           LT Bk Fac          CARE BBB-      3000    Assigned
Nayaab Jewels                         LT Bk Fac          CARE D         177     Revised from
                                                                                CARE B
Omax Minerals Pvt Ltd                 LT/ST Bk Fac       CARE BBB-CARE  200     Assigned
Omax Minerals Pvt Ltd                 LT Bk Fac*                                Withdrawn
* CARE has withdrawn the rating assigned to the Long-term Bank Facilities 
 (i.e. Cash Credit facility from Punjub National Bank) as the company has 
 fully repaid the amounts and there is no amount outstanding under the said facility. 
Panchmahal Steel Ltd                  LT Bk Fac          CARE BB+       550     Reaffirmed
Patidar Agricare                      LT Bk Fac          CARE B         51.5    Assigned
Prasad Education Trust                LT Bk Fac          CARE D         438.2   Revised from
                                                                                CARE BB-
S M Industries                        LT Bk Fac          CARE B+        60      Assigned
Sundew Properties Ltd                 LT TL Bk Facility  CARE A+        12880.2 Assigned
Sundew Properties Ltd                 Proposed LT TL Bk  CARE A+        923.6   Reaffirmed
Tamilnadu Petroproducts Ltd           LT Bk Fac          CARE BBB       594.5   Revised from
                                                                                CARE BBB-
Tamilnadu Petroproducts Ltd           Long/ST Bk Fac     CARE BBB/CARE  535.2   Revised from
                                                         A3                     CARE BBB-/
                                                                                CARE A3
U & T Tractor Spares Pvt Ltd          LT Bk Fac                                 Withdrawn
Vishnu Cotton Mills Ltd               LT Bk Fac          CARE BB+       109.8   Revised from
                                                                                CARE BB-
$: 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
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