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CARE ratings for Indian debt instruments-Aug 29
August 29, 2017 / 8:33 AM / 22 days ago

CARE ratings for Indian debt instruments-Aug 29

    Aug 29 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 28, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bhawani Prasad Sharma Contractor      ST Bk Fac          CARE A4        42.5    Assigned
Jay Kishan Fibre Pvt Ltd              ST Bk Fac          CARE A4        30      Assigned
Mayur Enterprise                      ST Bk Fac          CARE A4        20      Assigned
Rational Business Corporation Pvt Ltd ST Bk Fac          CARE A3        130     Assigned

Sangam Rice Pvt Ltd                   ST Bk Fac          CARE A4        110     Assigned
Stefina Vitrified Pvt Ltd             ST Bk Fac          CARE A4        40      Assigned
Tinna Trade Ltd                       ST Bk Fac          CARE A4+       400     Reaffirmed
United Agro Industries                ST Bk Fac          CARE A4        50      Assigned


LONG TERM RATINGS:
-------------------
Adani Power Rajasthan Ltd.            LT Bk Fac          CARE BBB-      58910   Revised from
                                                                                CARE BBB
Adani Power Rajasthan Ltd.            LT / ST Bk Fac     CARE BBB- / A3 19600   Revised from
                                                                                CARE BBB /
                                                                                CARE A3+
Agroh Kodinar Veraval Highways Pvt LtdLT Bk Fac – Fund   Provisional    3216    Reaffirmed
                                      based              CARE BBB   
Agroh Kodinar Veraval Highways Pvt LtdLT Bk Fac – Non    Provisional   335     Reaffirmed
                                      Fund based         CARE BBB
Aircel Cellular Ltd                   LT Bk Fac*         CARE BBB-      174790  Revised from
                                                                                CARE BBB+
^backed by support provided by the promoter (Maxis Communications Berhad)
Aircel Ltd                            LT Bk Fac *        CARE BBB- ^    174790  Revised from
                                                                                CARE BBB+
^backed by support provided by the promoter / * Part of Group facilities (interchangeable
between Aircel Limited, Aircel Cellular Limited, Dishnet Wireless Limited and Aircel
Smart Money Limited) 
Aircel Smart Money Ltd                LT Bk Fac*         CARE BBB- ^    174790  Revised from
                                                                                CARE BBB+
^backed by support provided by the promoter / * Part of Group facilities (interchangeable
between Aircel Limited, Aircel Cellular Limited, Dishnet Wireless Limited and Aircel
Smart Money Limited) 
Bhawani Prasad Sharma Contractor      LT Bk Fac          CARE BB        18.5    Assigned
Cedar Mfi Trust 26                    Series A PTCs      -              -       Withdrawn
Chaudhary Rice Mills                  LT Bk Fac          CARE B         84      Assigned
Coral Associates                      LT/ST Bk Fac       CARE BB+ /A4   95      Reaffirmed /
                                                                                Revised  
                                                                                CARE A4+
Creative Clothex                      LT Bk Fac          CARE B         41      Assigned
Dholi Spintex Pvt Ltd                 LT Bk Fac          CARE BBB-      150     Assigned
Diatrends Jewellery Pvt Ltd           LT/ ST Bk Fac      CARE BBB-      300     Reaffirmed
                                                         /CARE A3
Dishnet Wireless Ltd                  LT Bk Fac*         CARE BBB- ^    174790  Revised from
                                                                                CARE BBB+
^backed by support provided by the promoter / * Part of Group facilities (interchangeable
between Aircel Limited, Aircel Cellular Limited, Dishnet Wireless Limited and Aircel
Smart Money Limited) 
Gajanan Ferro Pvt Ltd                 LT Bk Fac          CARE B+        147.5   Assigned
Jainam Fab Pvt Ltd                    LT Bk Fac          CARE B+        64      Assigned
Jay Kishan Fibre Pvt Ltd              LT Bk Fac          CARE BB        120     Assigned
Kavita Exim Pvt Ltd                   LT Bk Fac          CARE B+        120     Assigned
Mahalaxmi Traders                     LT Bk Fac          CARE BB-       90      Reaffirmed
Maris Power Supply Company Pvt Ltd    LT Bk Fac          CARE BBB       209.6   Revised from
                                                                                Provisional
                                                                                CARE BBB-
Mayur Enterprise                      LT Bk Fac          CARE BB-       49.9    Assigned
Merlin Projects Ltd                   LT Bk Fac          CARE A-        600     Assigned
Rational Business Corporation Pvt Ltd LT Bk Fac          CARE BBB-      170     Assigned
Rational Business Corporation Pvt Ltd LT/ST Bk Fac       CARE BBB- / A3 150     Assigned
Ravi Teja Textiles                    LT Bk Fac          CARE B         48.2    -
Issuer not cooperating
Renew Wind Energy (Rajkot) Pvt Ltd    LT Bk Fac – TL     -              -       Withdrawn
Renew Wind Energy (Rajkot) Pvt Ltd    LT Bk Fac –        -              -       Withdrawn
                                      Subordinated Bk
                                      Loan
Rrb Energy Ltd                        LT Bk Fac – Fund   CARE C         950     Revised from
                                      based                                     CARE D
Rrb Energy Ltd                        LT/ ST Bk Fac –    CARE C / A4    400     Revised from
                                      Non-fund based                            CARE D /D
Sangam Rice Pvt Ltd                   LT Bk Fac          CARE B         55      Assigned
Shivam Jewels                         Bk Fac-FB - LT/    CARE BBB /CARE 150     Assigned
                                      STCC/Packing CreditA3
Shree Sita Ispat And Power Pvt Ltd    LT Bk Fac          CARE B+        60      Assigned
Shrivallabh Pittie Industries Ltd     LT Bk FacTL        CARE BBB-      2750    Revised from
                                                                                CARE BB+
Shrivallabh Pittie Industries Ltd     LT Bk FacCC        CARE BBB-      800     Assigned
Stefina Vitrified Pvt Ltd             LT Bk Fac          CARE BB-       320     Assigned
Tinna Trade Ltd                       LT Bk Fac          CARE BB        300     Reaffirmed
United Agro Industries                LT Bk Fac          CARE BB-       30      Assigned
Vadilal Enterprise Ltd                LT Bk Fac          CARE BBB+      259.5   Revised from
                                                                                CARE BBB
Vadilal Enterprise Ltd                LT Bk Fac          CARE BBB+ / A2 5       Revised from
                                                                                CARE BBB /
                                                                                CARE A3+
--------------------------------------------------------------------------------------------
$: 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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