December 21, 2018 / 7:01 AM / 7 months ago

CARE ratings for Indian debt instruments-Dec 21

    Dec 21 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 20, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bajaj Electricals Ltd                 CP                 CARE A1+       5000    Reaffirmed
Binayak Hi-Tech Engineering Pvt Ltd   Short--term Bk Fac CARE A4        140     Assigned
Ceres Hotels Pvt Ltd                  ST Bk Fac (Non-FB) CARE A3+       10      Reaffirmed
Cherian Varkey Construction Company   ST Bk Fac          CARE A2+       2400    Assigned
Pvt Ltd
Deora Wires N Machines Pvt Ltd        ST Bk Fac          CARE D         24.5    Assigned
Gosil Exports Pvt Ltd                 ST Bk Fac          CARE A4        125     Assigned
Hyderabad Steels                      ST Bk Fac          CARE A4        35      Assigned
Indo Rama Synthetics India Ltd        ST Bk Fac          CARE D         650     Reaffirmed
Jyoti Vincom Pvt Ltd                  ST Bk Fac          CARE A4        1.8     Reaffirmed
Krishi Constructions Pvt Ltd          Short -termBk Fac  CARE A4        50
(Issuer Not Cooperating)
Lambda Therapeutic Research Ltd       ST Bk Fac          CARE A1+       20      Reaffirmed
MM TV Ltd                             ST Bk Fac          CARE A1        60      Reaffirmed
Naresh Kumar & Company Pvt Ltd        ST BkFac           CARE A3+       50      Reaffirmed
Paras Commercial Corporation          ST Bk Fac          CARE A4        45.5    Assigned
Pavathal Spinning Mills Pvt Ltd       ST Bk Fac          CARE A4+       5       Reaffirmed
Prathishta Weaving & Knitting Co. Ltd ST Bk Fac          CARE A2        47      Reaffirmed
Saksham Signs Pvt Ltd                 ST Bk Fac          CARE A4        15      Assigned
Satluj Spintex Ltd                    ST Bk Fac          -              -       Withdrawn
Tata Communications Payment Solutions *ST Bk Fac         CARE A1+ (SO)  3640    Reaffirmed
Ltd
*backed by credit enhancement in the form of letter of comfort from Tata Communications Ltd.
(TCL), rated CARE AA+/CARE A1+ 
Tata Communications Payment Solutions *CP                CARE A1+ (SO)  2000    Reaffirmed
Ltd
*backed by credit enhancement in the form of letter of comfort from Tata Communications Ltd.
(TCL), rated CARE AA+/CARE A1+ 
Tata Communications Payment Solutions ^Proposed CP       CARE A1+(SO)   500     Reaffirmed
Ltd
^ backed by credit enhancement in the form of letter of comfort proposed to be extended by TCL 
Trisha Engineers                      ST Bk Fac          CARE A4        52.5    Reaffirmed
Varp Power Pvt Ltd                    ST Bk Fac          CARE A4        5       Reaffirmed
Yuva Shakthi Enterprises              ST BkFac           CARE A4        100     Revised from
                                                                                CARE A4+
(Issuer Not Cooperating)
 
LONG TERM RATINGS:
-------------------
Abro Chimique Pvt. Ltd                LT Bk Fac          CARE B+        77.2    Reaffirmed
(reduced from 9.11 Crore)
Ahan Add Chem Pvt Ltd                 LT Bk Fac          CARE B+        181.9   Reaffirmed
(reduced from 18.20 Crore)
Binayak Hi-Tech Engineering Pvt Ltd   LT Bk Fac          CARE BB-       56.3    Assigned
Ceres Hotels Pvt Ltd                  LT Bk Fac (TL)     CARE BBB+      2500    Reaffirmed
Ceres Hotels Pvt Ltd                  LT Bk Fac (FB)     CARE BBB+      50      Reaffirmed
Cherian Varkey Construction Company PvLT Bk Fac          CARE A-        1090    Assigned
Ltd
Classic Mall Development Company Pvt LNCDs (NCD) issue   -              -       Withdrawn
                                      (Series 1)
Classic Mall Development Company Pvt LNCDs (NCD) issue   -              -       Withdrawn
                                      (Series 2)
Deora Wires N Machines Pvt Ltd        LT Bk Fac          CARE D         53      Assigned
Deora Wires N Machines Pvt Ltd        LT/ ST Bk Fac      CARE D /D      30      Assigned
Durga Projects And Infrastructure Pvt LT Bk Fac- TL      CARE BB+       1500    Assigned
Ltd
Ess Kay Fincorp Ltd.                  LT Instruments     -              -       Withdrawn
                                      (NCD Issue)@
@Ratings have been withdrawn following receipt of confirmation from Investor for full repayment
of the NCD issue 
Ess Kay Fincorp Ltd.                  CP Issues          -              -       Withdrawn
                                      (Proposed)#
# The company has requested to withdraw the Short term rating for proposed CP issue as the
company is not using the same, further there is nil outstanding as on date.  
Ess Kay Fincorp Ltd.                  LT Bk Fac          CARE A-        3672.2  Reaffirmed
Ess Kay Fincorp Ltd.                  LT Instruments     CARE A-        500     Assigned
                                      (NCD Issue)
Fox Cashew Industries                 LT Bk Fac          CARE B+        60      Assigned
Gosil Exports Pvt Ltd                 LT Bk Fac          CARE BB        11.7    Assigned
Healthico Quality Products Pvt Ltd    LT Bk Fac          CARE B         140     Assigned
Hyderabad Steels                      LT Bk Fac          CARE BB-       40      Assigned
India International Clearing          Issuer Rating *    CARE AAA       -       Reaffirmed
Corporation (Ifsc) Ltd.
*The rating is subject to the company maintaining overall gearing not exceeding 2.00 times
Indo Rama Synthetics India Ltd        LT Bk Fac          CARE D         1237.5  Reaffirmed
Indo Rama Synthetics India Ltd        Long/ST Bk Fac     CARE D         7112.5  Reaffirmed
Ishwar Resort Hotels Pvt Ltd          LT Bk Fac          -              -       Withdrawn
Jyoti Vincom Pvt Ltd                  LT Bk Fac          CARE B         116.7   Reaffirmed
(reduced from 13.24 Crore)
Krishi Constructions Pvt Ltd          Long -term BkFac   CARE BB-       30      Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Krishna Prasad Industries             LT Bk Fac          CARE B+        60      Assigned
Kw Homes Pvt Ltd                      Proposed LT        -              -       Withdrawn
                                      Instruments
                                      (Nonconvertible debentures- NCDs)
Lambda Therapeutic Research Ltd       LT Bk Fac          CARE AA-       160     Reaffirmed
Lambda Therapeutic Research Ltd       LT / ST Bk Fac     CARE AA-/A1+   300     Reaffirmed
Madhav Infracon (Ghansore Mandla      LT Bk Fac          -              -       Withdrawn
Corridor) Pvt Ltd
Majestic Basmati Rice Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Marvest Aqua Protein Pvt Ltd          LT Bk Fac          CARE B+        61.6    Assigned
Mas Rural Housing And Mortgage FinanceLT Bk Fac          CARE A         5000    Assigned
Ltd
Mm Tv Ltd                             LT Bk Fac          CARE A         639     Reaffirmed
(Enhanced from 47.53 Crore)
Nadhi Bio Products Pvt Ltd            LT BkFac           CARE BBB-      383.8   Revised from
                                                                                CARE BBB-
Nadhi Bio Products Pvt Ltd            LT/Shortterm Bk FacCARE BBB-/A3   20      Assigned
Naresh Kumar & Company Pvt Ltd        LT BkFac           CARE BBB+      2498    Reaffirmed
(enhanced from Rs.171.74 cr Crore)
Naresh Kumar & Company Pvt Ltd        Long/STBk Fac      CARE BBB+/A3+  250     Reaffirmed
(enhanced from Rs.19.0 cr Crore)
Oriental Granites & Crushers          LT Bk Fac          CARE BB-       47.7    Reaffirmed
(reduced from 4.99 Crore)
Origo Finance Pvt Ltd                 LT Bk Fac          CARE BBB-      500     Assigned
Paras Commercial Corporation          LT Bk Fac          CARE BB        54.5    Assigned
Pavathal Spinning Mills Pvt Ltd       LT Bk Fac          CARE BB+       100.3   Reaffirmed
(reduced from 10.42 Crore)
Prathishta Weaving & Knitting Co. Ltd LT Bk Fac          CARE BBB+      3       Reaffirmed
Reliance Business Broadcast News      NCD issue -1 *     CARE AA (SO)   4000
Holdings Ltd (Erstwhile Known As
Business Broadcast News Holdings Ltd
(Reduced from Rs.600 crore Crore)/* backed by unconditional and irrevocable corporate guarantee
by Reliance Capital Limited (RCL; Guarantor or Benefactor rated CARE AA/A1+; Credit Watch with
Developing Implications) 
Reliance Business Broadcast News      NCD issue 2 *      CARE AA (SO)   2000
Holdings Ltd (Erstwhile Known As
Business Broadcast News Holdings Ltd
* backed by unconditional and irrevocable corporate guarantee by Reliance Capital Limited (RCL;
Guarantor or Benefactor rated CARE AA/A1+; Credit Watch with Developing Implications) 
Reliance Business Broadcast News      NCD issue 3 *      CARE AA (SO)   2500
Holdings Ltd (Erstwhile Known As
Business Broadcast News Holdings Ltd
* backed by unconditional and irrevocable corporate guarantee by Reliance Capital Limited (RCL;
Guarantor or Benefactor rated CARE AA/A1+; Credit Watch with Developing Implications) 
Rukmani Retails Pvt Ltd               LT Bk Fac          CARE B+        45      Assigned
Rukmani Retails Pvt Ltd               LT / ST Bk Fac     CARE B+/A4     55      Assigned
Saksham Signs Pvt Ltd                 LT Bk Fac          CARE BB-       50      Assigned
Satluj Spintex Ltd                    LT Bk Fac          -              -       Withdrawn
Southern Electric Company             LT Bk Fac          CARE BB-       76      Assigned
Talwalkars Lifestyle Ltd              NCD issue          -              -       Withdrawn
Talwalkars Lifestyle Ltd              NCD issue          -              -       Withdrawn
Tata Communications Payment Solutions *LT Bk Fac         CARE AA (SO)   4000    Reaffirmed
Ltd
*backed by credit enhancement in the form of letter of comfort from Tata Communications Ltd.
(TCL), rated CARE AA+/CARE A1+
Tata Communications Payment Solutions ^Proposed Bk       CARE           1000    Reaffirmed
Ltd                                   Fac-LT /ST         AA(SO)/A1+(SO)
^ backed by credit enhancement in the form of letter of comfort proposed to be extended by TCL
Trisha Engineers                      LT Bk Fac          CARE BB        20      Reaffirmed
Universal Saur Urja Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Varp Power Pvt Ltd                    LT Bk Fac          CARE BB+       45.6    Reaffirmed
(reduced from 4.78 Crore)
Yuva Shakthi Enterprises              LT Bk Fac          CARE BB        29.5    Revised from
                                                                                CARE BB+
(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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below