December 1, 2017 / 5:39 AM / a year ago

CARE ratings for Indian debt instruments-Dec 1

    Dec 1 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 30, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
5Paisa Capital Ltd                    CP                 CARE A1+       150     Assigned
Abp Pvt Ltd                           ST Bk Fac          CARE A1+       1220    Reaffirmed
Abp Pvt Ltd                           CP (CP) issue*     CARE A1+       1000    Reaffirmed
*carved out of sanctioned working capital limit
Abp Pvt Ltd                           Proposed CP (CP)   CARE A1+       500     Reaffirmed
                                      issue#
# change in terms from carved out to standalone limit; the outstanding CP and sanctioned bank
borrowing will not exceed the overall sanctioned working capital limit of the company.
Bhagawatiestate Warehouse (Kolaras)   ST Bk Fac          CARE A4        24.5    Reaffirmed
Chengmari Tea Co. Ltd                 ST Bk Fac          CARE A4+       10      Reaffirmed
Govindam Brj Infra Projects Pvt Ltd   ST Bk Fac          CARE A4        90      Reaffirmed
Hanuman Agro Industries Ltd           ST Bk Fac          CARE A4        20      Reaffirmed
India Infoline Management Services LtdCP (CP)            CARE A1+       2000    Assigned
Jm Financial Capital Ltd              CP (IPO Financing) CARE A1+       15000   Assigned
Jm Financial Products Ltd             CP (IPO Financing) CARE A1+       45000   Assigned
Kashivishwanath Steels Pvt Ltd        ST Bk Fac          CARE A3        130     Reaffirmed
Kashivishwanath Textile Mills Ltd     ST Bk Fac          CARE A3        2.5     Reaffirmed
Kshitij Kumar Choudhary               ST Bk Fac          CARE A4        130     Assigned
M/S Max Impex                         ST Bk Fac          CARE A4        35      Assigned
Naviya Technologies                   ST Bk Fac          CARE A4        40      Assigned
Neilsoft Ltd                          ST Bk Fac          CARE A2        20      Reaffirmed
Sasmos Het Technologies Ltd           ST Bk Fac          CARE A3        200     Reaffirmed
Simanchal Construction                ST Bk Fac          CARE A4        160     Reaffirmed

LONG TERM RATINGS:
-------------------
Abp News Network Pvt Ltd              LT Bk Fac          CARE A         257.5   Revised from
                                                                                CARE A-
(reduced from 40.00crs)
Abp Pvt Ltd                           LT Bk Fac          CARE A+        1367.8  Reaffirmed
Abp Pvt Ltd                           Long/ST Bk Fac     CARE A+ /CARE  2300    Reaffirmed
                                                         A1+
Aishwarya Avant Builders Llp          LT Bk Fac – TL     CARE BB        250     Assigned
Baba Hi-Tech Pvt Ltd                  LT Bk Fac          CARE BB-       88.4    Reaffirmed
Bhagawatiestate Warehouse (Kolaras)   LT Bk Fac          CARE B         7.7     Revised from
                                                                                CARE B+
Bhagawatiestate Warehouse (Kolaras)   LT/ST Bk Fac       CARE B         40      Revised from
                                                         /CARE A4               CARE B+
Chengmari Tea Co. Ltd                 LT Bk Fac          CARE BB+       140     Reaffirmed
Govindam Brj Infra Projects Pvt Ltd   LT Bk Fac          CARE BB-       60      Reaffirmed
Grand Pinkcityinfraproject            LT Bk Fac          CARE B+        140     Assigned
Hanuman Agro Industries Ltd           LT Bk Fac          CARE BB-       158.5   Reaffirmed
Jitf Urban Infrastructure Services LtdNCD*                                      Withdrawn
*backed by Put Right provided by Jindal Saw Limited for timely repayment of principal,
redemption premium and interest obligations. The above NCD s were transferred from Jindal ITF
Limited to JUISL pursuant to the completion of composite scheme of re-arrangement.
Karnataka State Financial Corporation Unsecured Bonds    CARE AA-(SO)   1230    Reaffirmed
                                      Series I @
@ backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka State Financial Corporation Unsecured Bonds    CARE AA-(SO)   1000    Reaffirmed
                                      Series II @
@ backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka State Financial Corporation Unsecured Bonds    CARE AA-(SO)   2000    Reaffirmed
                                      Series III @
@ backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka State Financial Corporation Unsecured Bonds    CARE AA-(SO)   2000    Reaffirmed
                                      Series IV @
@ backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka State Financial Corporation Unsecured Bonds    CARE AA-(SO)   2500    Reaffirmed
                                      Series V @
@ backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka State Financial Corporation Unsecured Bonds    CARE AA-(SO)   2350    Reaffirmed
                                      Series VI @
@ backed by unconditional and irrevocable guarantee from Government of Karnataka (GoK)
Karnataka Water And Sanitation Pooled LT Bk Fac- LT – TL@CARE AA-(SO)   2000    Reaffirmed
Fund Trust
@ backed by an unconditional and irrevocable undertaking from Government of Karnataka to make
budgetary allocations for timely debt servicing and make good without demur any cash shortfall
arising on this loan commitment.    
Kashivishwanath Steels Pvt Ltd        LT Bk Fac          CARE BBB       221.1   Revised from
                                                                                CARE BBB-
Kashivishwanath Textile Mills Ltd     LT Bk Fac          CARE BBB       188     Revised from
                                                                                CARE BBB-
(reduced from 23.36crs)
Krishiinfratech                       LT Bk Fac          CARE BB+       345     Assigned
Kshitij Kumar Choudhary               LT Bk Fac          CARE BB-       20      Assigned
M/S Max Impex                         LT Bk Fac          CARE B         25      Assigned
Naviya Technologies                   LT Bk Fac          CARE BB-       30      Assigned
Naviya Technologies                   LT Bk Fac/         CARE BB- /CARE 60      Assigned
                                      Shortterm Bk Fac   A4
Neilsoft Ltd                          LT Bk Fac          CARE A-        140     Reaffirmed
Om Aastha Indo Energy Pvt Ltd         LT Bk Fac          CARE B+        70      Assigned
Payal Dealers Pvt Ltd                 LT Bk Fac          CARE BB-       109.2   Reaffirmed
Popawala Chemicals Pvt Ltd            LT/ST Bk Fac       CARE BB        187.5   Revised from
                                                         /CARE A4               CARE BB- 
                                                                                Reaffirmed
Prathameshsolarfarms Ltd              LT Bk Fac          CARE BBB       2887.5  Assigned
Rasilant Technologies Pvt Ltd         LT/ ST Bk Fac      CARE B+                Assigned
                                                         /CARE A4
Raxa Security Services Ltd (Raxa)     LT Bk Fac (Over    -              -       Withdrawn
                                      Draft)
Raxa Security Services Ltd (Raxa)     LT Bk Fac (TL)@    CARE BB (SO)   2250    Revised from
                                                                                CARE BBB-(SO)
@ backed by unconditional and irrevocable corporate guarantee of GMR Infrastructure Limited
(GIL; rated CARE BB; Stable/ CARE A4)
Raxa Security Services Ltd (Raxa)     Long/ST Bk Fac@    CARE BB (SO)   50      Revised from
                                                         /CARE A4 (SO)          CARE BBB-(SO)
                                                                                / CARE A3 (SO)
@ backed by unconditional and irrevocable corporate guarantee of GMR Infrastructure Limited
(GIL; rated CARE BB; Stable/ CARE A4)
Ry Midas Alluminiums Pvt Ltd          LT Bk Fac/ ST Bk   CARE BB-       150     Assigned
                                      Fac                /CARE A4
Ry Midas Alluminiums Pvt Ltd          LT Bk Fac/ ST Bk   CARE BB-       150     Assigned
                                      Fac                /CARE A4
Safewater Lines India Pvt Ltd         LT Bk Fac          CARE BBB-      100     Assigned
Sasmos Het Technologies Ltd           LT/ST Bk Fac       CARE BBB-      150     Reaffirmed
                                                         /CARE A3
Simanchal Construction                LT Bk Fac          CARE BB-       30      Reaffirmed
Supertech Precast Technologies Pvt LtdLT Bk Fac                                 Withdrawn
Surya Construction Company            LT Bk Fac          CARE BB        150     Assigned
Tarapore And Company                  LT Bk Fac          CARE A-        250     Reaffirmed
Ultra Aluminium Pvt Ltd               LT Bk Fac          CARE BB-       96      Issuer not
                                                                                cooperating
--------------------------------------------------------------------------------------------
$: 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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