August 28, 2018 / 7:21 AM / 3 months ago

CARE ratings for Indian debt instruments-Aug 28

    Aug 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 27, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Akal Pipe Industries                  ST Bk Fac          -              -       Withdrawn
Avni Yarns Pvt Ltd                    ST Bk Fac          CARE A4        3.5     Reaffirmed
Blue Ocean Biotech Pvt Ltd            ST Bk Fac          CARE A4        5       Reaffirmed
(enhanced from 0.25 Crore)
C Doctor India Pvt Ltd                ST Bk Fac          CARE A4        15      Reaffirmed

Centuary Fibre Plates Pvt Ltd         ST Bk Fac          CARE A3+       11      Revised from
                                                                                CARE A2+
Issuer not cooperating; Based on best available information
Coastal Aqua Pvt Ltd                  ST BkFac           CARE A3        325     Reaffirmed
Indo Nabin Projects Ltd               ST Bk Fac          CARE A4        110     Revised from
                                                                                CARE A4+
Jm Financial Capital Ltd              CP (for IPO        CARE A1+       5000    Assigned
                                      financing)
Jm Financial Products Ltd             CP (for IPO        CARE A1+       10000   Assigned
                                      financing)
Jm Financial Properties And Holdings LCP (for IPO        CARE A1+       2000    Assigned
                                      financing)
Karni Communication Pvt Ltd           Short- term Bk Fac CARE A4        15      Reaffirmed
Koner Food Product                    ST Fac             CARE A4        4.5     Assigned
Lipi International Pvt Ltd            ST Bk Fac          -              -       Withdrawn
Likhita Energy Systems Pvt Ltd        ST Bk Fac          CARE A4        50      Reaffirmed
(Enhanced from 3.00 Crore)
Mohindra Coaches (India) Pvt Ltd      ST Bk Fac          CARE A4        60      Reaffirmed
Raksan Transformers Pvt Ltd           ST Bk Fac          CARE A4        45      Reaffirmed
Rmp Bearings Ltd                      ST Bk Fac          CARE A4+       1       Reaffirmed
Saha & Mondal Construction            ST Bk Fac          CARE A4        80      Reaffirmed
Issuer not cooperating
Super Infratech Pvt Ltd               ST Bk Fac          CARE D         107.4   -
Issuer not cooperating
Sahota Papers Ltd                     ST Bk Fac          CARE A2+       6       Reaffirmed
Shriram City Union Finance Ltd        CP                 CARE A1+       30000   Reaffirmed
Tanla Solutions Ltd                   ST Bk Fac          CARE A2+       799     -
Placed on credit watch with developing implications
Traditional Gallery Pvt Ltd           ST Bk Fac          CARE A4        33      Assigned

MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd        Fixed Deposit      CARE AA+(FD)   100     Reaffirmed

LONG TERM RATINGS:
-------------------
Aditya Infra And Agri Business Pvt LtdLT Bk Fac          CARE B+        80      -
Issuer not cooperating; Based on best available information
Akal Pipe Industries                  LT Bk Fac          -              -       Withdrawn
Avni Yarns Pvt Ltd                    LT Bk Fac          CARE BB        107.8   Reaffirmed
(Reduced from 11.91 Crore)
Babasaheb Bapusaheb Gunjate           LT Bk Fac          CARE B         60      Revised from
                                                                                CARE B+
Issuer not cooperating; Based on best available information
Bishnupriya Food Industries Pvt Ltd   LT Bk Fac          CARE B         147.6   Revised from
                                                                                CARE B+
Blue Ocean Biotech Pvt Ltd            LT Bk Fac          CARE BB        226.9   Reaffirmed
Bmw Iron & Steel Industries Ltd       LT Bk Fac          CARE D         465     -
Issuer not cooperating; Based on best available information
C Doctor India Pvt Ltd                LT Bk Fac          CARE B         17.5    Reaffirmed
C Doctor India Pvt Ltd                LT/ST Bk Fac       CARE B/A4      25      Reaffirmed
Centuary Fibre Plates Pvt Ltd         LT Bk Fac          CARE BBB       115     Revised from
                                                                                CARE BBB+
Issuer not cooperating; Based on best available information
Coastal Aqua Pvt Ltd                  LT BkFac           CARE BBB-      134     Reaffirmed
(enhanced from 11.83 Crore)
Coastal Gujarat Power Ltd             NCDs               CARE AA (SO)/& 27000   Final Rating
                                                                                Assigned
& backed by unconditional irrevocable corporate guarantee by Tata Power Co. Limited 
(Rated CARE AA, Stable)
Coastal Gujarat Power Ltd             Proposed           CARE AA (SO)/@ 1500    Reaffirmed
                                      Nonconvertible
                                      Debentures
@The rating is provisional and will be finalized on submission of the executed version of the
unconditional, irrevocable corporate guarantee from Tata Power Company Limited and verification
of their conformity as per draft documents provided to CARE.
Entel Motors Pvt Ltd                  LT Bk Fac          CARE BB-       80      Reaffirmed
(reduced from 8.30 Crore)
Hdfc Credila Financial Services Pvt LtNon- Convertible                  -       Withdrawn
                                      Debenture*         -
*Non-Convertible Debenture of Rs.200 crore has matured hence rating has been withdrawn.
Hdfc Credila Financial Services Pvt   Perpetual Debt     CARE AA+       2750    Reaffirmed
Ltd
Hdfc Credila Financial Services Pvt   Non- Convertible   CARE AAA       5000    Reaffirmed
Ltd                                   Debenture
Hdfc Credila Financial Services Pvt   Subordinate Debt   CARE AAA       1000    Reaffirmed
Ltd
Hdfc Credila Financial Services Pvt   Issuer rating      CARE AAA (Is)  -       Reaffirmed
Ltd
Indo Nabin Projects Ltd               LT Bk Fac          CARE B         78.5    Revised from
                                                                                CARE BB
Indo Nabin Projects Ltd               LT/ ST Bk Fac      CARE B/A4      460     Revised from
                                                                                CARE BB
Indo Nabin Projects Ltd               LT Bk Fac          CARE D         120     Revised from
                                                                                CARE BB
Indo Nabin Projects Ltd               LT/ ST Bk Fac      CARE D/D       200     Revised from
                                                                                CARE BB
Karni Communication Pvt Ltd           LT Bk Fac          CARE BB        45      Revised from
                                                                                CARE BB-
Koner Food Product                    LT Bk Fac          CARE B+        89      Assigned
Likhita Energy Systems Pvt Ltd        LT Bk Fac          CARE B+        142.1   Reaffirmed
(reduced from 14.50 Crore)
Lipi International Pvt Ltd            LT Bk Fac          -              -       Withdrawn
M L Rice Mills                        LT Bk Fac          CARE B         245     Revised from
                                                                                CARE B+
Issuer not cooperating; Based on best available information
Mahadev Marmo Pvt Ltd                 LT Bk Fac          CARE BB-       101.3   Revised from
                                                                                CARE BB
Manohar Cold Storage And Agrotech     LT Bk Fac          CARE BB-       60      Assigned
Mohindra Coaches (India) Pvt Ltd      LT Bk Fac          CARE B+        25      Revised from
                                                                                CARE BB-
Navkar Sugars                         LT Bk Fac          -              -       Withdrawn
Oxford Educational Society            LT Bk Fac          CARE BB        100     Assigned
Parekh Gadgets Pvt Ltd                LT Fac             CARE BB-       60      Reaffirmed
R B Rungta Steel & Food Products Pvt  LT Bk Fac          CARE BB-       76.6    Assigned
Ltd
Raipur Speciality Steels Pvt Ltd      LT Bk Fac          CARE B+        56.1    Reaffirmed
(Enhanced from 5.41 Crore)
Rajdhani Crafts Industries Pvt Ltd    LT/ST BkFac        CARE BB-/A4    150     Assigned
Raksan Transformers Pvt Ltd           LT Bk Fac          CARE BB-       70      Revised from
                                                                                CARE B+
Rmp Bearings Ltd                      LT Bk Fac          CARE BB+       236.3   Reaffirmed
(enhanced from Rs.14.90 crore Crore)
S. H. Enterprises                     LT Bk Fac          CARE B+        80      Reaffirmed
Saha & Mondal Construction            LT BkFac           CARE B+        20      Revised from
                                                                                CARE BB-
Issuer not cooperating
Sahota Papers Ltd                     LT Bk Fac          CARE A-        48      Reaffirmed
Shiv Shakti Rice Mills                LT Bk Fac          CARE BB-       80      Revised from
                                                                                CARE B+
Shree Ramanjaneya Hotels Pvt Ltd      LT Bk Fac          CARE B         149.1   -
Issuer not cooperating
Shri Salasar Agro Processor           LT Bk Fac          CARE B         70      -
Issuer not cooperating
Shriram City Union Finance Ltd        NCD-VI             -              -       Withdrawn
Shriram City Union Finance Ltd        NCD-VII (public    -              -       Withdrawn
                                      issue)
Shriram City Union Finance Ltd        NCD-X              -              -       Withdrawn
Shriram City Union Finance Ltd        NCD-XIV            -              -       Withdrawn
Shriram City Union Finance Ltd        NCD-XVII           -              -       Withdrawn
Shriram City Union Finance Ltd        NCD                CARE AA+       5000    Assigned
Shriram City Union Finance Ltd        NCD-III            CARE AA+       30      Reaffirmed
(reduced from 35.67 Crore)
Shriram City Union Finance Ltd        NCD -VIII(public   CARE AA+       790.6   Reaffirmed
                                      issue)
(reduced from 85.6 Crore)
Shriram City Union Finance Ltd        NCD-IX (public     CARE AA+       951.5   Reaffirmed
                                      issue)
Shriram City Union Finance Ltd        NCD-XII            CARE AA+       1000    Reaffirmed
Shriram City Union Finance Ltd        NCD-XV             CARE AA+       350     Reaffirmed
Shriram City Union Finance Ltd        NCD-XVI            CARE AA+       750     Reaffirmed
Shriram City Union Finance Ltd        NCD-XVIII          CARE AA+       1000    Reaffirmed
Shriram City Union Finance Ltd        NCD-XIX            CARE AA+       1150    Reaffirmed
Shriram City Union Finance Ltd        NCD-XX             CARE AA+       3550    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXI            CARE AA+       1350    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXII           CARE AA+       5000    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXIII          CARE AA+       5000    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXIV           CARE AA+       4000    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXV            CARE AA+       6500    Reaffirmed
Shriram City Union Finance Ltd        Sub-debt - I       CARE AA+       1202    Reaffirmed
(reduced from 145.35 Crore)
Shriram City Union Finance Ltd        Sub-debt – II      CARE AA+       1000    Reaffirmed
Shriram City Union Finance Ltd        Sub-debt – III     CARE AA+       600     Reaffirmed
Sonalac Paints And Coatings Ltd       LT Bk Fac          CARE BB-       95      -
Issuer not cooperating; Based on best available information
Super Infratech Pvt Ltd               LT Bk Fac          CARE D         71.4    -
Issuer not cooperating
Tanla Solutions Ltd                   LT Bk Fac          CARE A-        1       -
Placed on credit watch with developing implications
Traditional Gallery Pvt Ltd           LT Bk Fac          CARE BB        13.1    Assigned
Traditional Gallery Pvt Ltd           LT/ST BkFac        CARE BB/A4     80      Assigned
Yashoda Cotton & General Mills Pvt LtdLT Bk Fac          CARE D         60.6    -
Issuer not cooperating; Based on best available information
--------------------------------------------------------------------------------------------
$: 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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