December 20, 2018 / 10:25 AM / a month ago

CARE ratings for Indian debt instruments-Dec 20

    Dec 20 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 19, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Abhishek Steel Industries Ltd         ST Bk Fac          CARE A3        100     Assigned
Bagkiya Constructions Pvt Ltd         ST Bk Fac          CARE A4+       350     Assigned
Bannari Amman Sugars Ltd              ST Bk Fac          CARE A1+       3075    Reaffirmed
(enhanced from 7.50 Crore)

Bardhaman Agro Pvt Ltd                ST Bk Fac          CARE A4        1.7     -
(issuer Not Cooperative)
Bhavani Impex                         ST Bk Fac          CARE A4        70      Reaffirmed
Choice Equity Broking Pvt Ltd         ST Bk Fac          -              -       Withdrawn
Chimique India Ltd                    ST Bk Fac          CARE A2+       740     Reaffirmed
(reduced from 75.00 Crore)
Eco Bliss                             ST Bk Fac          CARE A4        44      Assigned
Grasim Industries Ltd                 ST Bk Fac          CARE A1+       11000   Reaffirmed
Grasim Industries Ltd                 CP (CP) Issue      CARE A1+       15000   Reaffirmed
                                      Proposed*
*Interchangeable between CP issue of Rs.1000 crore and Short 
Term Bank Loan (STL) of equivalent amount.
Jindal Infrastructure                 ST BkFac           CARE A4        40      Assigned
Jindal Prl Infrastructure (Joint      ST BkFac           CARE A4        120     Assigned
Venture)
Mahamaya Steel Industries Ltd         Short -term Bk Fac CARE A3        360     Revised from
                                                                                CARE A4+
Rnr Imports & Exports                 ST Bk Fac          CARE A4        120     Assigned
Bhadreshwar Vidyut Pvt Ltd (Erstwhile ST Bk Fac          CARE D         4300    -
Opgs Power Gujarat Pvt Ltd)
(Issuer Not Cooperative)
The State Trading Corporation Of IndiaST Bk Fac          CARE D         40000   Reaffirmed
Ltd
S S Infrastructure Development        ST Bk Fac          CARE A4        80      -
Consultants Pvt Ltd
(issuer Not Cooperative)
Sagar Cements Ltd                     ST Bk Fac          CARE A3        250     -
(issuer Not Cooperative)
Shree Hari Steel Industries           ST BkFac           CARE A4        40      Reaffirmed
Sri M.S.P.Velayutha Nadar             ST Bk Fac          CARE A4        120     Reaffirmed


LONG TERM RATINGS:
-------------------
Abhishek Steel Industries Ltd         LT Bk Fac          CARE BBB-      100     Assigned
Adithi Automotive Pvt Ltd             LT Bk Fac          CARE BB-       80      Assigned
Bagkiya Constructions Pvt Ltd         LT Bk Fac          CARE BB+       20      Assigned
Bannari Amman Sugars Ltd              LT Bk Fac          CARE A+        5140    Reaffirmed
Bannari Amman Sugars Ltd              LT /ST BkFac       CARE A+ /CARE  154     Reaffirmed
                                                         A1+
Bardhaman Agro Pvt Ltd                LT Bk Fac          CARE BB-       62.8    -
(issuer Not Cooperative)
Bdh Hotel & Resort                    LT Bk Fac          CARE B+        180     Reaffirmed
Bgr Energy Systems Ltd                LT Bk Fac          CARE BBB       30760   Revised from
                                                                                CARE BBB+
Bgr Energy Systems Ltd                LT/ ST Bk Fac      CARE BBB /CARE 64320   Revised from
                                                         A3                     CARE BBB+
Bhadreshwar Vidyut Pvt Ltd (Erstwhile LT Bk Fac          CARE D         14974   -
Opgs Power Gujarat Pvt Ltd)
(Issuer Not Cooperative)
Bhadreshwar Vidyut Pvt Ltd (Erstwhile LT Bk Fac – CC     CARE D         1350    -
Opgs Power Gujarat Pvt Ltd)
(Issuer Not Cooperative)
Bhadreshwar Vidyut Pvt Ltd (Erstwhile Issuer Rating      CARE D         -       -
Opgs Power Gujarat Pvt Ltd)
(Issuer Not Cooperative)
Bhavani Impex                         LT Bk Fac          CARE B         30      Reaffirmed
Chettinad International Coal Terminal LT/ ST Bk Fac @    -              -       Withdrawn
Pvt Ltd
@ The long-term/ short-term bank facility (BG of Rs.20 crore) from 
Indian Bank backed by corporate guarantee from South India Corpn 
Private Limited has been withdrawn as the limits have been closed
Chettinad International Coal Terminal LT/ ST Bk Fac      CARE A-/CARE   980     Revised from
Pvt Ltd                                                  A2+                    CARE A-
(enhanced from Rs.80 crore Crore)
Chimique India Ltd                    LT Bk Fac          CARE BBB+      24.7    Reaffirmed
(reduced from 13.18 Crore)
Choice Equity Broking Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Eco Bliss                             LT Bk Fac          CARE BB        18.9    Assigned
First Choice Realty Llp               LT BkFac           CARE BB+       111.8   Revised from
                                                                                CARE BBB
(reduced from Rs.14.00 crore Crore)
Gaddam Pattabhi Reddy                 LT Bk Fac          CARE BB        150     Assigned
Grasim Industries Ltd                 LT Bk Fac          CARE AAA       15060   Reaffirmed
Grasim Industries Ltd                 NCD Issue (LT      CARE AAA       10000   Reaffirmed
                                      umbrella rating)
                                      (Proposed)
International Metal Industries        LT Bk Fac          CARE B+        80      Reaffirmed
Jindal Denim (India) Pvt Ltd          LT Bk Fac          -              -       Withdrawn
Jindal Infrastructure                 LT BkFac           CARE B+        110     Assigned
Jindal Prl Infrastructure (Joint      LT BkFac           CARE BB-       30      Assigned
Venture)
Khattar Edibles Pvt Ltd               LT Bk Fac          CARE B+        80      Assigned
Mahamaya Steel Industries Ltd         LT BkFac           CARE BBB-      419.2   Revised from
                                                                                CARE BB+
(reduced from 44 Crore)
Maliram Jewellers                     LT Bk Fac/ ST Bk   CARE BB/CARE A4112.5   Reaffirmed
                                      Fac
(reduced from Rs.15.00 crore Crore)
Microtex Fashion Industries           LT Bk Fac          CARE D         72.3    -
(Issuer Not Cooperative)
Prakash Engineers And Construction    LT Bk Fac          CARE BB+       60      Assigned
Company
Prakash Engineers And Construction    LT/STBk Fac        CARE BB+/CARE  20      Assigned
Company                                                  A4+
Royal Mudhol Hospital And Research    LT Bk Fac          CARE BB        1737.7  Assigned
Centre Llp
S S Infrastructure Development        LT Bk Fac          CARE BB        20      -
Consultants Pvt Ltd
(Issuer Not Cooperative)
Sagar Cements Ltd                     LT Bk Fac          CARE BBB-      2275.5  -
(Issuer Not Cooperative)
Sarvesh Builders (India) Pvt. Ltd     NCDs               CARE BB-       1300    Revised from
                                                                                CARE BB
Shanti Foundation                     LT Bk Fac          CARE BB-       198.8   Reaffirmed
Shree Hari Steel Industries           LT BkFac           CARE BB        60      Revised from
                                                                                CARE BB-
Shree Siddhivinayak Realhomes Pvt. LtdNCDs               CARE BB-       3950    Revised from
                                                                                CARE BB
Sri M.S.P.Velayutha Nadar             LT Bk Fac          CARE B+        30      Revised from
                                                                                CARE B
Srinivasa Poultry Farm                LT Bk Fac          CARE B+        74.3    Reaffirmed
Supreme Exports                       Long -term BkFac   CARE B+        80      -
(Issuer Not Cooperative)
Tarachand Impex Ltd                   LT Bk Fac          -              -       Withdrawn
The State Trading Corporation Of IndiaLT Bk Fac          CARE D         20000   Reaffirmed
Ltd
Trico Global Trades                   LT Bk Fac          CARE BB-       55.2    Assigned
Welspun Pipes Inc                     FB Fac (LT)^       CARE A+        3248    Reaffirmed
^USD 50 Million @ 64.9596
--------------------------------------------------------------------------------------------
$: 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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