December 21, 2017 / 6:41 AM / a month 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, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aditya Arav Dev Construction Co. Pvt. ST Bk Facility     CARE A4        110     Assigned
Ltd.
Aegis Logistics Ltd                   ST Bk Fac          CARE A1+       4219.8  Reaffirmed
(Enhanced from Rs.411.98 crores)
Alchaw Metprint India Ltd             ST Bk Fac          CARE A4+       10      Revised from
                                                                                CARE A4
B. G. Transport Company               ST Bk Fac          CARE A4+       1       Assigned
B.G.Roadlines                         ST Bk Fac          CARE A4+       1       Assigned
Bangera Overseas Pvt Ltd              ST BkFac           CARE A3        190     Reaffirmed
Bhanu Construction                    ST Bk Fac          CARE A4+       350     ISSUER NOT
                                                                                COOPERATING
Bhupinder Singh                       ST Bk Fac          CARE A4+       1       Assigned
Century Textiles And Industries Ltd   CP issue           CARE A1+       22000   Reaffirmed
Color Granito Pvt Ltd                 ST Bk Fac          CARE A4        44.5    Reaffirmed
G. B. Enterprises Transport Pvt Ltd   ST Bk Fac          CARE A4+       1.1     Assigned
Goyal Educational & Welfare Society   ST Bk Fac          CARE D         10      Revised from
ISSUER NOT COOPERATING                                                          CARE A4
G. S. Roadlines                       ST Bk Fac          CARE A4+       1       Assigned
G. S. Roadways                        ST Bk Fac          CARE A4+       1       Assigned
Gtv Engineering Ltd                   ST Bk Fac          -              -       Withdrawn
Grand Prix Engineering Pvt Ltd        ST Bk Fac          CARE A4+       15      Assigned
Gujral Roadways Pvt Ltd               ST Bk Fac          CARE A4+       1.1     Assigned
Indo Nabin Projects Ltd               ST Bk Fac          CARE A4+       110     Reaffirmed
Rama Krishna Spintex Pvt Ltd          ST Bk Fac          CARE A4        7       Reaffirmed
Rattan Kaur                           ST Bk Fac          CARE A4+       1.2     Assigned
Satin Creditcare Network Ltd          CP                 CARE A2        1500    Reaffirmed
Subhash Singh Choudhary               ST Bk Fac          CARE A4        100     Assigned
Synnova Gears & Transmissions Pvt Ltd ST Bk Fac          CARE A4+       17      Assigned
T. K. Roadlines                       ST Bk Fac          CARE A4+       1       Assigned
T. K. Roadways                        ST Bk Fac          CARE A4+       1       Assigned
Tejinder Kaur                         ST Bk Fac          CARE A4+       1       Assigned
Transoceanic Agro Comm Pvt Ltd        ST Bk Fac          CARE A3        2501    Reaffirmed
(reduced from 260.10 Crores)
Unitech Fabricators And Engineers Pvt ST Bk Fac          CARE A4        42      Assigned
Ltd

LONG TERM RATINGS:
-------------------
Aditya Arav Dev Construction Co. Pvt. LT Bk Facility     CARE B+        22.5    Assigned
Ltd.
Aegis Logistics Ltd                   LT Bk Fac          CARE AA        2742.1  Reaffirmed
(Enhanced from Rs.32.29 crores)
Aegis Logistics Ltd                   NCDs               CARE AA        250     Reaffirmed
Alchaw Metprint India Ltd             LT Bk Fac          CARE BB        30.1    Revised from
                                                                                CARE BB-
Arex Industries Ltd                   LT Bk Fac          CARE BBB       338.2   Reaffirmed
(enhanced from Rs.8.00 crores)
Arex Industries Ltd                   LT/STBk Fac        CARE BBB/A3+   55      Reaffirmed
(enhanced from Rs.4.50 crores)
Ats Heights Pvt Ltd                   LT Instruments     CARE BB        800     Reaffirmed
                                      (NCDs- NCDs)
Ats Heights Pvt Ltd                   LT Instruments     CARE BB        850     Assigned
                                      (NCDs- NCDs-
                                      Proposed)
Avanse Financial Services Ltd         LT Bk Fac          CARE AA+(SO)   11060   Reaffirmed
Avanse Financial Services Ltd         LT Bk Fac          CARE AA+(SO)   1000    Final Rating
Avanse Financial Services Ltd         LT Bk Fac          ProvCARE       1940    Reaffirmed
                                                         AA+(SO)
B. G. Transport Company               LT Bk Fac          CARE BB-       99      Assigned
B.G.Roadlines                         LT Bk Fac          CARE BB-       99      Assigned
Bangera Overseas Pvt Ltd              LT BkFac           CARE BBB-      3.6     Reaffirmed
Bhanu Construction                    LT Bk Fac          CARE BB+       100     ISSUER NOT
                                                                                COOPERATING
Bhupinder Singh                       LT Bk Fac          CARE BB-       99      Assigned
Color Granito Pvt Ltd                 LT Bk Fac          CARE BB-       267.9   Revised from
                                                                                CARE B+
Color Granito Pvt Ltd                 LT/ST Bk Fac       CARE BB- /A4   100     Revised from
                                                                                CARE B+
G. B. Enterprises Transport Pvt Ltd   LT Bk Fac          CARE BB-       98.9    Assigned
G. S. Roadlines                       LT Bk Fac          CARE BB-       99      Assigned
G. S. Roadways                        LT Bk Fac          CARE BB-       99      Assigned
Goyal Educational & Welfare Society   LT Bk Fac          CARE D         120     Revised from
                                                                                CARE BB-
ISSUER NOT COOPERATING
Grand Prix Engineering Pvt Ltd        LT Bk Fac          CARE BB+       105.2   Assigned
Grand Prix Engineering Pvt Ltd        LT/ST Bk Fac       CARE BB+/A4+   170     Assigned
Gtv Engineering Ltd                   LT Bk Fac          -              -       Withdrawn
Gujral Roadways Pvt Ltd               LT Bk Fac          CARE BB        98.9    Assigned
Indo Nabin Projects Ltd               LT Bk Fac          CARE BB        198.5   Reaffirmed
Indo Nabin Projects Ltd               LT/ ST Bk Fac      CARE BB/A4+    10      Reaffirmed
Indo Nabin Projects Ltd               Long/ST Bk Fac     CARE BB/A4+    650     Reaffirmed
Kanha Exim                            LT Bk Fac          CARE BB+       160     Assigned
Pvr Solar Energy Llp                  LT Bk Fac          CARE BB        104.4   Assigned
Raheja Icon                           NCD issue          CARE BB(SO)    680     -
Rama Krishna Spintex Pvt Ltd          LT Bk Fac          CARE BB        770.2   Reaffirmed
(enhanced from Rs.76.13 Crores)
Rattan Kaur                           LT Bk Fac          CARE BB-       98.8    Assigned
Satin Creditcare Network Ltd          Preference Share   CARE BBB       250     Revised from
                                      Capital                                   CARE BBB
Satin Creditcare Network Ltd          LT Bk Fac          CARE BBB+      22000   Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCD                CARE BBB+      1000    Assigned
Satin Creditcare Network Ltd          NCD                CARE BBB+      1000    Assigned
Satin Creditcare Network Ltd          NCD                CARE BBB+      250     Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCD                CARE BBB+      180     Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCD                CARE BBB+      500     Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCD                CARE BBB+      515     Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCD                CARE BBB+      -       Revised from
                                                                                CARE BBB+
* Exchange Rate USD 1 = INR 65.70 for Instrument of USD 4 million
Satin Creditcare Network Ltd          NCDs               CARE BBB+      500     Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCDs               CARE BBB+      -       Revised from
                                                                                CARE BBB+
** Exchange Rate USD 1 = INR 66.34 for Instrument of USD 7 million
Satin Creditcare Network Ltd          NCDs               CARE BBB+      250     Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCDs               CARE BBB+      -       Revised from
                                                                                CARE BBB+
^ Exchange Rate USD 1 = INR 70 for Instrument of USD 10 million
Satin Creditcare Network Ltd          NCD                CARE BBB+      -       Revised from
                                                                                CARE BBB+
^^ Exchange Rate USD 1 = INR 68 for Instrument of USD 5 million
Satin Creditcare Network Ltd          NCD                CARE BBB+      250     Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCD                CARE BBB+      150     Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCD                CARE BBB+      200     Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCD                CARE BBB+      650     Revised from
                                                                                CARE BBB+
Satin Creditcare Network Ltd          NCD - Subordinated CARE BBB+      210     Revised from
                                      Debentures                                CARE BBB
Seagull Publishers Pvt Ltd            LT Bk Fac          -              -       Withdrawn
Shiva Distilleries Pvt Ltd            LT Bk Fac          CARE BBB       848.4   Reaffirmed
Subhash Singh Choudhary               LT Bk Fac          CARE BB        100     Assigned
Suryavathi Energy Llp                 LT Bk Facility     CARE BB        150     Assigned
Synnova Gears & Transmissions Pvt Ltd LT Bk Fac          CARE BB+       302.9   Assigned
T. K. Roadlines                       LT Bk Fac          CARE BB-       99      Assigned
T. K. Roadways                        LT Bk Fac          CARE BB-       99      Assigned
Tejinder Kaur                         LT Bk Fac          CARE BB-       99      Assigned
Transoceanic Agro Comm Pvt Ltd        LT Bk Fac          CARE BBB-      30      Reaffirmed
Unibait Feeds Pvt Ltd                 LT Bk Fac          CARE BB        120     Assigned
Unitech Fabricators And Engineers Pvt LT Bk Fac          CARE B+        55.6    Assigned
Ltd
Vishnu Vardhan Solar Energy Llp       LT Bk Facility     CARE BB        103     Assigned
Vivriti Matic 010 2017 (Originator:   Series A1 PTC      ProvCARE A+    -       Assigned
Asirvad Microfinance Ltd)                                (SO)
Vivriti Matic 010 2017 (Originator:   Series A2 PTC      ProvCARE BBB+  -       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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