December 20, 2017 / 10:34 AM / a year 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, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A. G. Enterprise                      ST Bk Fac          CARE A4+       818     Reaffirmed
B. D. Transport Company               ST BkFac           CARE A4+       1       Assigned
B. S. Enterprise                      ST BkFac           CARE A4+       1.1     Assigned
B. S. Roadways                        ST BkFac           CARE A4+       1.8     Assigned

B. S. Transport Company               ST BkFac           CARE A4+       1       Assigned
B. T. Roadlines                       ST BkFac           CARE A4+       1       Assigned
B.D. Roadways                         ST Bk Fac          CARE A4+       1       Assigned
Bmd Pvt Ltd                           ST Bk Fac          CARE A1        50      Revised from
                                                                                CARE A1+
Bmd Pvt Ltd                           CP (CP) Issue *    CARE A1        700     Revised from
                                                                                CARE A1+
*carved out of sanctioned working capital limits of the company
Climax Overseas Pvt Ltd               ST Bk Fac          CARE A4+       250     Assigned
Earth Stone Global                    ST Bk Fac          CARE A4        137.5   Assigned
Hari Equipments Pvt Ltd               ST Bk Fac          CARE A3        130     Assigned
J. K. Industries                      ST Bk Fac          CARE A4+       634     Reaffirmed
Kedarnath Commotrade Pvt Ltd          ST Bk Fac          CARE A3        200     Assigned
Nice Sesame Agro Industries           ST BkFac           CARE A4        3.5     Assigned
Power Grid Corporation Of India Ltd   ST Borrowing       CARE A1+       21000   Reaffirmed
                                      Programme
Power Grid Corporation Of India Ltd   CP                 CARE A1+       30000   Reaffirmed
R.K. Enterprise                       ST Bk Fac          CARE A4+       0.7     Assigned
R.K. Roadlines                        ST Bk Fac          CARE A4+       0.7     Assigned
R.K. Transport Company                ST Bk Fac          CARE A4+       0.7     Assigned
Rayana Paper Board Industries Ltd     ST Bk Fac          CARE A3+       15.4    Reaffirmed
Shantamani Enterprise                 ST Bk Fac          CARE A4+       634     Reaffirmed
Sanvijay Rolling And Engineering Ltd  ST Bk Fac          -              -       Withdrawn
Moksh Agarbatti Company               ST Bk Fac          -              -       Withdrawn

LONG TERM RATINGS:
-------------------
A. G. Enterprise                      LT/ ST Bk Fac      CARE BB        100     Reaffirmed
Agroh Biaora Tollways Pvt Ltd         LT BkFac           CARE BBB       633.5   Reaffirmed
Agroh Biaora Tollways Pvt Ltd         Longterm/STBk Fac  CARE BBB / A3+ 106.1   Reaffirmed
Agroh Infrastructure Developers Pvt   LT Bk Fac          CARE BBB       150     Reaffirmed
Agroh Infrastructure Developers Pvt   LT/ST BkFac        CARE BBB/A3+   1300    Reaffirmed
Agroh Toll Highways Pvt Ltd           LT Bk Fac          CARE A-        762.4   Reaffirmed
Agroh Toll Highways Pvt Ltd           LT/STBk Fac        CARE A-/A2+    65.3    Reaffirmed
B. D. Transport Company               LT BkFac           CARE BB-       99      Assigned
B. S. Enterprise                      LT BkFac           CARE BB-       98.9    Assigned
B. S. Roadways                        LT BkFac           CARE BB-       98.2    Assigned
B. S. Transport Company               LT BkFac           CARE BB-       99      Assigned
B. T. Roadlines                       LT BkFac           CARE BB-       99      Assigned
B.D. Roadways                         LT Bk Fac          CARE BB-       99      Assigned
Bmd Pvt Ltd                           LT Bk Fac          CARE A+        2707.8  Reaffirmed
Climax Overseas Pvt Ltd               LT Bk Fac          CARE BB+       17.5    Assigned
Climax Overseas Pvt Ltd               LT/ST Bk Fac       CARE BB+/A4+   2.5     Assigned
Earth Stone Global                    LT Bk Fac          CARE B+        12.5    Assigned
Hari Equipments Pvt Ltd               LT Bk Fac          CARE BBB-      220     Assigned
Hubli Cotton Industries               LT Bk Facility     CARE B         75      Assigned
J. K. Industries                      LT/ ST Bk Fac      CARE BB        80      Reaffirmed
Kedarnath Commotrade Pvt Ltd          LT Bk Fac          CARE BBB-      150     Assigned
Magnolia Hospitality Pvt Ltd          LT Bk Fac          CARE BBB-      112.3   -
ISSUER NOT COOPERATING*
Moksh Agarbatti Company               LT Bk Fac          -              -       Withdrawn
Momai Foods Pvt Ltd                   Long- term Bk Fac  CARE D         98.6    Revised from
                                                                                CARE B+
Nice Sesame Agro Industries           LT BkFac           CARE BB-       94.4    Assigned
Ppn Power Generating Company Pvt Ltd  LT Bk Fac          CARE BBB       4422.5  Revised from
                                                                                CARE A
Ppn Power Generating Company Pvt Ltd  Long / ST Bk Fac   CARE BBB/A3    3100    Revised from
                                                                                CARE A / CARE
                                                                                A2+
R.K. Enterprise                       LT Bk Fac          CARE BB-       99.3    Assigned
R.K. Roadlines                        LT Bk Fac          CARE BB-       99.3    Assigned
R.K. Transport Company                LT Bk Fac          CARE BB-       99.3    Assigned
Rayana Paper Board Industries Ltd     LT Bk Fac          CARE BBB       147.5   Reaffirmed
Rishi Reality Leasing Services Pvt    LT Bk Fac          CARE BB+       152.5   Assigned
Sanvijay Rolling And Engineering Ltd  LT Bk Fac          -              -       Withdrawn
Sewa Grih Rin Ltd                     LT Bk Fac          CARE BBB-      300     Assigned
Shantamani Enterprise                 LT/ ST Bk Fac      CARE BB        80      Reaffirmed
Shree Veerabhadreshwara Rice Indust   LT Bk Facility     CARE B         60      Reaffirmed
Simhapuri Expressway Ltd              LT Bk Fac          CARE BB        20298.9 Revised from
                                                                                CARE D
Sunshine Liquid Storage Pvt Ltd       LT BkFac           CARE B+        165     Assigned
Tarsons Products Pvt Ltd              LT Bk Fac          CARE A-        784.3   Revised from
                                                                                CARE BBB+
Theme Hotels Pvt Ltd                  LT Bk Fac          CARE B-        38.9    Assigned
United Global Corporation Ltd         Long- Term Bk Fac  Provisional    660@    Revised from
                                      – Non-Fund Based   CARE BB+               CARE BBB-
#to be backed by corporate guarantee from SSPL / Issuer not Cooperating
United Global Corporation Ltd         Long -Term BkFac – CARE BB+       190@    Revised from
                                      Fund Based                                CARE BBB-
@backed by corporate guarantee from Sri Srinivasa Construction Constructions India Pvt. Ltd.
(SSPL) / Issuer not Cooperating
United Global Corporation Ltd         Long- Term Bk Fac  CARE BB+       140@    Revised from
                                      – Non-Fund Based                          CARE BBB-
@backed by corporate guarantee from Sri Srinivasa Construction Constructions India Pvt. Ltd.
(SSPL) / Issuer not Cooperating
Wellbuild Merchants Pvt Ltd           LT Bk Fac          CARE BB+       700     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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