August 3, 2018 / 7:43 AM / 3 months ago

CARE ratings for Indian debt instruments-Aug 3

   Aug 3 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 2, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aarti Suitings Pvt Ltd                ST Bk Fac          CARE A4        0.5     Reaffirmed
Anupam Nirman Pvt Ltd                 ST Bk Fac          CARE A3        730     -
(ISSUER NOT COOPERATING)
Baba Ispat Pvt Ltd                    ST Bk Fac          CARE A4        5.5     -

(ISSUER NOT COOPERATING)
Bengal Tea & Fabrics Ltd              ST Bk Fac          CARE A3+       25      Reaffirmed
Dodhia Synthetics Ltd                 ST Bk Fac          CARE A3        776.5   Assigned
K.D. Iron & Steel Company             ST Bk Fac          CARE A4+       20      -
(ISSUER NOT COOPERATING)
Mahavir Coal Washeries Pvt Ltd        ST BkFac           CARE A4+       40      Revised from
                                                                                CARE A3
(ISSUER NOT COOPERATING)
Cosmic Ferro Alloys Ltd               ST Bk Fac          CARE D         1220.5  -
(ISSUER NOT COOPERATING)
Global Offshore Services Ltd          ST Bk Fac          -              -       Withdrawn
Nortech Power Projects Pvt. Ltd.      ST Bk Fac          CARE A4        100     -
(ISSUER NOT COOPERATING)
Sahaj E-Village Ltd                   ST BkFac(Facility  CARE A2+ (SO)  38      Reaffirmed
                                      3)#
#backed by letter of comfort from SIFL
Stone Age Pvt Ltd                     ST Bk Fac          CARE A4        135     Reaffirmed
Nilkanth Ferro Ltd                    ST Bk Fac          -              -       Withdrawn
Vanita Cold Storage                   ST Bk Fac          CARE A4        155     Reaffirmed
Vasupujya Filaments                   ST Bk Fac          CARE A3        26      Assigned


LONG TERM RATINGS:
-------------------
Aarti Suitings Pvt Ltd                LT Bk Fac          CARE BB        139.7   Reaffirmed
Adig Jemtex Pvt Ltd                   LT Bk Fac          CARE BB        274.3   Reaffirmed
Amar Alloys Pvt Ltd                   LT Bk Fac          CARE B+        100     Assigned
Amrit Humifresh Preservation Pvt Ltd  LT Bk Fac          CARE BB-       150     -
(ISSUER NOT COOPERATING)
Anchor Agritech                       LT Bk Fac          CARE D         54.5    Revised from
                                                                                CARE B
Anupam Nirman Pvt Ltd                 LT Bk Fac          CARE BBB-      200     -
(ISSUER NOT COOPERATING)
Apogee Services Pvt Ltd               LT Bk Fac          CARE B         61.7    Assigned
Apogee Services Pvt Ltd               LT Bk Fac/ST Bk    CARE B/A4      18.3    Assigned
                                      Fac
Arvind Fashions Ltd                   Proposed LT/ST Bk  CARE A+/A1+    2000    Assigned
                                      Fac
Baba Ispat Pvt Ltd                    LT Bk Fac          CARE B+        109.7   -
(ISSUER NOT COOPERATING)
Bengal Tea & Fabrics Ltd              LT Bk Fac          CARE BBB       292.2   Reaffirmed
Chirag Operating Lease Company Pvt. Ltd LT Bk Fac        -              -       Withdrawn
Cosmic Ferro Alloys Ltd               LT Bk Fac          CARE D         846.5   -
(ISSUER NOT COOPERATING)
Dodhia Synthetics Ltd                 LT Bk Fac          CARE BBB       674.3   Assigned
Global Offshore Services Ltd          LT Bk Fac          -              -       Withdrawn
Global Offshore Services Ltd          LT/ST Bk Fac       -              -       Withdrawn
G-Next Media Pvt Ltd                  LT Bk Fac          CARE BB+       115     -
(ISSUER NOT COOPERATING)
G-Next Media Pvt Ltd                  LT/ ST Bk Fac      CARE BB+/A4+   21.5    -
(ISSUER NOT COOPERATING)
Gramco Infratech Pvt Ltd              LT Bk Fac          CARE B         93.2    Reaffirmed
Hanwant Fasteners Pvt Ltd             LT Bk Fac          CARE B         54.1    -
(ISSUER NOT COOPERATING)
Indian Microfinance Loan Receivables  Series A PTCs      -              -       Withdrawn
Trust September 2016 A(Originator: Bharat Financial Inclusion Ltd)
K.D. Iron & Steel Company             LT Bk Fac          CARE BB+       401.1   -
(ISSUER NOT COOPERATING)
Kanmani Poultry Farm                  LT Bk Fac          CARE B         101.5   Assigned
Mahavir Coal Washeries Pvt Ltd        LT BkFac           CARE BB+       260     Revised from
                                                                                CARE BBB
(ISSUER NOT COOPERATING)
Mahavir Coal Washeries Pvt Ltd        LT/Shortterm Bk FacCARE BB+/A4+   100     Revised from
                                                                                CARE BBB/CARE
                                                                                A3
(ISSUER NOT COOPERATING)
Neelam Dyeing And Printing House Pvt Ltd LT Bk Fac       CARE B         73.9    Assigned
Neelam Dyeing And Printing House Pvt Ltd Proposed LT BkFacCARE B        6.1     Assigned
Nilkanth Ferro Ltd                    LT Bk Fac          -              -       Withdrawn
Nortech Power Projects Pvt. Ltd.      LT Bk Fac          CARE C         20      -
(ISSUER NOT COOPERATING)
Pankaj Steel Corporation              LT Bk Fac/ST Bk FacCARE B+/A4     80      Assigned
Paramesu Biotech Pvt Ltd              LT BkFac           CARE BB+       703.7   Upgraded from
                                                                                CARE BB
Reliance Financial Ltd                Market Linked      CARE PP-MLD AA 500     Reaffirmed
                                      Debentures*        (SO)
*The ratings are based on credit enhancement in the form of a Letter of
 Comfort issued by Reliance Capital Ltd. (RCL),rated CARE AA+
 (credit watch with developing implications)’, in favour of RFL’s debt instruments. 
Sahaj E-Village Ltd                   LT Bk Fac          CARE A- (SO)   70      Reaffirmed
                                      (Facility 2)^
^ backed by letter of responsibility from SIFL;
Sahaj E-Village Ltd                   LT Bk Fac          CARE A+ (SO)   200     Reaffirmed
                                      (Facility 1)*
*backed by put option from Srei Infrastructure Finance Ltd. (SIFL);
Sar Senapati Santaji Ghorpade Sugar   LT Bk Fac          CARE B-        2657.9  -
Factory Ltd
(ISSUER NOT COOPERATING)
Sks Buildtech Pvt Ltd                 LT Bk Fac          CARE B         260     -
(ISSUER NOT COOPERATING)
Sree Karpagamoorthy Automobiles       LT Bk Fac          CARE B+        70      Assigned
Sri Koundinya Educational Society     LT Bk Fac          CARE BBB-      70      Revised and
                                                                                Removed from
                                                                                CARE B+
(ISSUER NOT COOPERATING)
Stone Age Pvt Ltd                     LT/ST BkFac        CARE BB/A4     75      Reaffirmed
Straight Edge Contracts Pvt Ltd       LT Bk Fac          CARE B         100     -
(ISSUER NOT COOPERATING)
Swadeshi Aluminium Company Pvt Ltd    LT Bk Fac          CARE B         180     -
(ISSUER NOT COOPERATING)
Vasupujya Filaments                   LT Bk Fac          CARE BBB       369.8   Assigned
--------------------------------------------------------------------------------------------
$: 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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