August 30, 2017 / 4:30 AM / 3 months ago

CARE ratings for Indian debt instruments-Aug 30

    Aug 30 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 29, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aavas Financiers Ltd                  Proposed CP (CP)   CARE A1+       1000    Reaffirmed
                                      issue
enhanced from 50 CR
Future Supply Chain Solutions Ltd.    LT Bk Fac- Fund    CARE A2+       620     Reaffirmed
                                      Based
Future Supply Chain Solutions Ltd.    ST Bk Fac          CARE A2+       50      Reaffirmed
Gujarat Industries Power Co. Ltd      ST Bk Fac          CARE A1+       6700    Reaffirmed
reduced from Rs.1020 crore
Gujarat State Fertilizers & Chemicals ST Bk Fac          CARE A1+       27000   Reaffirmed
Ltd
Gujarat State Fertilizers & Chemicals CP                 CARE A1+       31650   Reaffirmed
Ltd
Kohinoor Foods Ltd                    ST Bk Fac          CARE A4        7473    Revised from
                                                                                CARE A3
Pnb Housing Finance Ltd               CP                 CARE A1+       150000  Reaffirmed
enhanced from Rs.9000 crore
Seabridge Terminals Pvt Ltd.          ST Bk Fac          CARE A3+       10      Assigned
Sree Padmanabha Cashew                ST Bk Fac          CARE A4        5       Assigned

MEDIUM TERM RATINGS:
-------------------
Dhampur Sugar Mills Ltd               Medium -term Fixed CARE A- (FD)   300     Revised from
                                      Deposit                                   CARE BBB+ (FD)
Hitech Corporation Ltd                FD                 CARE A+ (FD)   30.4    Reaffirmed
LONG TERM RATINGS:
-------------------
Aavas Financiers Ltd                  LT Instrument      CARE A+        500     Assigned
                                      Subordinate debt
Bhilwara Green Energy Ltd             Subordinated NCD   CARE BBB-      321.6   Reaffirmed
Bishnupriya Food Industries Pvt Ltd   LT Bk Fac          CARE B+        147.6   Assigned
Cent Bank Home Finance Ltd            LT Bk Fac          CARE A-        1318.3  Reaffirmed
Cent Bank Home Finance Ltd            NCD Issue (Tier-II)CARE A-        300     Reaffirmed
Dhampur Sugar Mills Ltd               LT Bk Fac – TL     CARE A-        3912.4  Revised from
                                                                                CARE BBB+
enhanced from Rs 244.00 crore
Dhampur Sugar Mills Ltd               LT Bk Fac – Fund   CARE A-        8045    Revised from
                                      based                                     CARE BBB+
enhanced from Rs 685.00 crore
Future Supply Chain Solutions Ltd.    LT Bk Fac-TL       CARE A         390     Assigned
Gujarat Industries Power Co. Ltd      LT Bk Fac          CARE AA-       10154.8 Reaffirmed
enhanced from Rs.674.46 crore
Gujarat Industries Power Co. Ltd      Bk Fac             CARE AA- /A1+  2752.6  Reaffirmed
reduced from Rs.330.26 CR
Gujarat State Fertilizers & Chemicals LT Bk Fac          CARE AA+       4650    Reaffirmed
Ltd
Harrow Educational Society            LT Bk Fac          CARE D         53.9    Assigned
Hinduja Leyland Finance Ltd           Subordinated Debt  CARE AA-       2000    Assigned
                                      issue (Proposed)
As Hitech Plast Ltd)
reduced from 10 CR
India Home Loans Ltd                  LT Bk Fac          CARE BBB-      1000    Reaffirmed
enhanced from Rs. 15 crore
Kohinoor Foods Ltd                    LT Bk Fac          CARE BB        1995    Revised from
                                                                                CARE BBB-
Pnb Housing Finance Ltd               LT Bonds/ NCD *    CARE AAA       85000   Reaffirmed
* An amount of Rs. 2021 crore is outstanding as on August 22, 2017
Saveera Hospital Pvt Ltd              LT Bk Facility     CARE BB        383.9   Reaffirmed
Seabridge Terminals Pvt Ltd.          LT Bk Fac          CARE BBB       200     Assigned
Seabridge Terminals Pvt Ltd.          LT Bk Fac          CARE BBB       4       Assigned
Simran Food Pvt Ltd                   Bk Fac- Fund Based CARE BB-       150     Assigned
                                      LT- CC
Sree Padmanabha Cashew                LT Bk Fac          CARE B+        50      Assigned
Suzlon Global Services Ltd            LT Bk Fac          CARE A         13000   Revised from
                                                                                Provisional
                                                                                CARE A-
Provisional; reduced from 1350 CR
Suzlon Global Services Ltd            Bk Fac             CARE A /A2+    2500    Revised from
                                                                                Provisional
                                                                                CARE A- /A2+
                                                                                Provisional
Yes Capital (India) Pvt Ltd           Proposed NCD issue CARE AA        6300    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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