December 28, 2017 / 7:12 AM / 6 months ago

CARE ratings for Indian debt instruments-Dec 28

    Dec 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 27, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
3F Industries Ltd                     Short term BkFac   CARE A2        6024    Surveillance
(reduced from 702.40crs)
A.R.C Mills Pvt Ltd                   ST Bk Fac          CARE A4        18.2    Reaffirmed
Aradhya Steel Pvt Ltd                 ST Bk Fac –FB      CARE A3        216     Reaffirmed
Aradhya Steel Pvt Ltd                 ST Bk Fac          CARE A3        500     Reaffirmed
                                      Non fund based
                                      Letter of Credit   
Aradhya Steel Pvt Ltd                 ST Bk Fac          CARE A3        132     Reaffirmed 
                                      Non fund based
                                      Bk guarantee     
Autolite (India) Ltd                  ST Bk Fac          CARE A4        155     Reaffirmed
Bardhaman Agro Pvt Ltd                ST Bk Fac          CARE A4        1.7     Reaffirmed
Basanti Mata Agri Product Pvt Ltd     ST Bk Fac          CARE A4        1.8     ISSUER NOT
                                                                                COOPERATING
Bps Industries                        ST Bk Fac          CARE A4+ (SO)  112     ISSUER NOT
                                                                                COOPERATING
Chemrow India Pvt Ltd                 ST Bk Fac          CARE A4        285     Reaffirmed
(Reduced from 29.50 Crore)
Coastal Corporation Ltd               ST BkFac           CARE A3        200     ISSUER NOT
                                                                                COOPERATING
Coimbatore Capital Ltd                ST Bk Fac          CARE A3        370     Reaffirmed
Friends Timber Pvt Ltd                ST Bk Fac          CARE A4        162.5   Reaffirmed
Indian Additives Ltd                  ST Bk Fac          CARE A1+       165     Reaffirmed
Jayalakshmi Sea Foods Pvt Ltd         Short – term Bk FacCARE A3        105     Revised from
                                                                                CARE A3+
ISSUER NOT COOPERATING
Jiva Plywoods Pvt Ltd                 ST Bk Fac          CARE A4        25      Reaffirmed
Jyotirmaye Textiles Pvt Ltd           ST Fac             -              -       Withdrawn
K V R Constructions                   ST Bk Fac          CARE A4        150     Assigned
Madhu Cable And Conductors Pvt Ltd    ST Bk Fac          CARE D         100     Assigned
Marco Cables Pvt Ltd                  ST Bk Fac          CARE A4        50      Reaffirmed
Maruti Fertochem Ltd                  ST Bk Fac          CARE A4        2.5     ISSUER NOT
                                                                                COOPERATING
Neueon Towers Ltd                     ST Bk Fac          CARE D         2000.2  ISSUER NOT
                                                                                COOPERATING
Pacific Garments Pvt Ltd              ST Bk Fac          CARE A4        40      ISSUER NOT
                                                                                COOPERATING
Patel Jiva Sales Pvt Ltd              ST Bk Fac          CARE A4        170     Reaffirmed
Pavathal Spinning Mills Pvt Ltd       ST BkFac           CARE A4+       5       Reaffirmed
Platinuum Edu Trust                   ST Bk Fac          -              -       Withdrawn
Rani Sati Agro Food Pvt Ltd           ST Bk Fac          CARE A4        90      ISSUER NOT
                                                                                COOPERATING
Real Grow Exim Pvt Ltd                ST Bk Fac          CARE A4        20      ISSUER NOT
                                                                                COOPERATING
Santhoshimathaa Edible Oils Refinery  ST Bk Fac          CARE A3        390     Reaffirmed
Pvt Ltd
Splendid Metal Products Ltd           ST Bk Fac          CARE D         2691.3  ISSUER NOT
                                                                                COOPERATING
Sree Lakshmi Engineering Works        ST Bk Fac          CARE A4        10      Assigned
Sri Varsha Food Products India Ltd    ST Bk Fac          CARE A4        158.5   ISSUER NOT
                                                                                COOPERATING
The Amir Education Society            ST Bk Fac          CARE A4+       145     Revised from
                                                                                CARE A3
ISSUER NOT COOPERATING
Tritan Leather Works Pvt Ltd          ST Bk Fac          CARE A4+       90.3    ISSUER NOT
                                                                                COOPERATING
Twenty Four Secure Services Pvt Ltd   ST Bk Fac          CARE A4        10      ISSUER NOT
                                                                                COOPERATING
Vishnu Barium Pvt Ltd                 ST Bk Fac          CARE A4        20      Reaffirmed
Vriddhi Infratech India Pvt Ltd       ST Bk Fac          CARE A4 +      377.5   Reaffirmed
    
MEDIUM TERM RATINGS:
-------------------
3F Industries Ltd                     Fixed Deposits     CARE BBB+      780     Surveillance/
                                                                                Enhancement   
LONG TERM RATINGS:
-------------------
3F Industries Ltd                     LT BkFac           CARE BBB+      3240    Surveillance
3F Industries Ltd                     Long/ST BkFac      CARE BBB+/A2   1100    Surveillance/
                                                                                Enhancement
(enhanced from 10.00crs)
A.R.C Mills Pvt Ltd                   LT Bk Fac          CARE B+        97.1    Reaffirmed
(reduced from 10.37crs)
Ajmer Vidyut Vitran Nigam Ltd.        LT Bonds Issue     CARE A- (SO)   3441.8  Reaffirmed
Ambani Builders Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Aradhya Steel Pvt Ltd                 LT Bk Fac - TL     CARE BBB       303.5   Reaffirmed
Aradhya Steel Pvt Ltd                 LT Bk Fac – CC     CARE BBB       734     Reaffirmed
Autolite (India) Ltd                  LT Bk Fac          CARE BB        72      Reaffirmed
Banasthali Vidyapith                  LT Bk Fac          CARE A+        91.3    Reaffirmed
Bardhaman Agro Pvt Ltd                LT Bk Fac          CARE BB-       62.8    Reaffirmed
(reduced from 7.05 Crore)
Basanti Mata Agri Product Pvt Ltd     LT Bk Fac          CARE B+        87.9    ISSUER NOT
                                                                                COOPERATING
Bps Industries                        LT Bk Fac          CARE BB+ (SO)  6.9     ISSUER NOT
                                                                                COOPERATING
Chemrow India Pvt Ltd                 LT Bk Fac          CARE BB-       50      Reaffirmed
(Reduced from 5.50 Crore)
Chhabra Autolink Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Coastal Corporation Ltd               LT BkFac           CARE BBB-      650     ISSUER NOT
                                                                                COOPERATING
Cream Jewellery                       LT Bk Fac/ ST Bk   CARE BB-/A4    70      Revised from
                                      Fac                                       CARE
                                                                                BB/Reaffirmed
Dhruv Cotex Pvt Ltd                   LT Bk Fac          CARE B+        130     Reaffirmed
Friends Timber Pvt Ltd                Long/ST Bk Fac     CARE B+        60      Reaffirmed
Global Offshore Services Ltd          LT Bk Fac TL – UBI CARE C         91.9    ISSUER NOT
                                      #                                         COOPERATING
#UBI- United Bank of India
Global Offshore Services Ltd          LT Bk Fac – FB     CARE C         200     ISSUER NOT
                                      Limits – UBI                              COOPERATING
Global Offshore Services Ltd          LT/ST Bk Fac – NFB CARE C/A4      130     ISSUER NOT
                                      Limits- UBI                               COOPERATING
Global Offshore Services Ltd          LT Bk Fac –TL      CARE D         3713    ISSUER NOT
                                                                                COOPERATING
Global Offshore Services Ltd          LT Bk Fac – FBL    CARE D         240     ISSUER NOT
                                                                                COOPERATING
Global Offshore Services Ltd          LT/ST Bk Fac –     CARE D         150     ISSUER NOT
                                      Non-FBL                                   COOPERATING
Hindusthan National Glass & IndustriesNCD - Series-III   CARE C         2000    Revised from
Ltd                                                                             CARE B+
Hindusthan National Glass & IndustriesLT Bk Fac          CARE D         20630   Revised from
Ltd                                                                             CARE B+
(reduced from 2,113.93 Crore)
Hindusthan National Glass & IndustriesLT/ST Bk Fac       CARE D         6000    Revised from
Ltd                                                                             CARE B+/CARE
                                                                                A4
Ilabs Hyderabad Technology Centre Pvt LT Bk Fac          CARE BBB+ (SO) 1000    Assigned
Ltd
Indian Additives Ltd                  LT Bk Fac          CARE AA        250     Reaffirmed
Indian Additives Ltd                  LT/ ST BkFac       CARE AA/A1+    40      Reaffirmed
Iskrupa Mall Management Company Pvt   LT Bk Fac – TL     CARE BBB- (SO) 1500    Reaffirmed
Ltd 
Iskrupa Mall Management Company Pvt   LT Bk Fac – Lease  CARE BBB- (SO) 312     Reaffirmed
Ltd                                   Rental Discounting
(reduced from 36.00 Crore)
Janta Filling Station                 LT Bk Fac          CARE BB-       50      Assigned
Jayalakshmi Sea Foods Pvt Ltd         LT/ ST BkFac       CARE BBB-/A3   390     Revised from
                                                                                CARE BBB/
                                                                                CARE A3+
ISSUER NOT COOPERATING
Jayanti Contractors And Engineers Ltd LT Bk Fac          CARE B+        91.5    ISSUER NOT
                                                                                COOPERATING
Jiva Plywoods Pvt Ltd                 LT Bk Fac          CARE B         49.1    Reaffirmed
Jyotirmaye Textiles Pvt Ltd           LT Fac             -              -       Withdrawn
Jyotirmaye Textiles Pvt Ltd           LT/ST Bk Fac       -              -       Withdrawn
K V R Constructions                   LT Bk Fac          CARE BB        250     Assigned
Kreya Infratech Pvt Ltd               LT Bk Fac          CARE B+        30      Assigned
Kreya Infratech Pvt Ltd               LT/ST Bk Fac       CARE B+/A4     60      Assigned
Madhu Cable And Conductors Pvt Ltd    LT Bk Fac          CARE D         115     Assigned
Mahesh Vegoils Pvt Ltd                LT Bk Fac          CARE BB+       14.8    Reaffirmed
Mahesh Vegoils Pvt Ltd                LT/ST Bk Fac       CARE BB+/A4+   200     Reaffirmed
(enhanced from 6.80 Crore)
Malabar Precious Jewels (India) Pvt   LT Bk Fac          CARE BBB-      80      Assigned
Ltd 
Marco Cables Pvt Ltd                  LT Bk Fac          CARE BB+       150     Reaffirmed
Marco Cables Pvt Ltd                  Long / ST Bk Fac   CARE BB+/CARE  150     Reaffirmed
                                                         A4
Maru Transmission Service Company Ltd.LT Bk Fac          CARE A-        945     Reaffirmed
Maruti Fertochem Ltd                  LT Bk Fac          CARE B         220     Revised from
                                                                                CARE B+
ISSUER NOT COOPERATING
Navayuga Real Ventures Pvt Ltd        LT Bk Fac-TL       CARE BBB-      397.5   Reaffirmed
(enhanced from Rs.15.00 crore Crore)
Neueon Towers Ltd                     LT Bk Fac          CARE D         14202.4 ISSUER NOT
                                                                                COOPERATING
Nirmaan Rmbs Trust Series II          Series A1 PTC      CARE AAA (SO)  -       Reaffirmed
2013-Originator: Dewan Housing Finance
Ltd
Nirmaan Rmbs Trust Series II          Series A2 PTC      CARE AAA (SO)  -       Revised from
2013-Originator: Dewan Housing Finance                                          CARE AA- (SO)
Ltd
Nirmaan Rmbs Trust Series III         Series A1 PTC      CARE AAA (SO)  -       Reaffirmed
2013-Originator: Dewan Housing Finance
Ltd
Nirmaan Rmbs Trust Series III         Series A2 PTC      CARE AAA (SO)  -       Revised from
2013-Originator: Dewan Housing Finance                                          CARE AA (SO)
Ltd
Nirmaan Rmbs Trust Series IV          Series A1 PTC      CARE AAA (SO)  -       Reaffirmed
2013-Originator: Dewan Housing Finance
Ltd
Nirmaan Rmbs Trust Series IV          Series A2 PTC      CARE AAA (SO)  -       Revised from
2013-Originator: Dewan Housing Finance                                          CARE AA (SO)
Ltd
Ozone Projects Pvt Ltd                LT NCDs-II         CARE BB        189.3   Revised from
                                                                                CARE BB+
Ozone Projects Pvt Ltd                LT NCDs-I          CARE BB(SO)    1263    Revised from
                                                                                CARE BB+
Pacific Garments Pvt Ltd              LT Bk Fac          CARE B         18.6    ISSUER NOT
                                                                                COOPERATING
Pacific Garments Pvt Ltd              LT/ST Bk Fac       CARE B/A4      1.4     ISSUER NOT
                                                                                COOPERATING
Palaparthi Super Speciality Hospital  LT Bk Fac          CARE D         700     ISSUER NOT
Pvt Ltd                                                                         COOPERATING
Patel Jiva Sales Pvt Ltd              LT Bk Fac          CARE B+        68.5    Reaffirmed
Pavathal Spinning Mills Pvt Ltd       LT BkFac           CARE BB+       104.2   Reaffirmed
(reduce from 11.11 Crore)
Platinuum Edu Trust                   LT Bk Fac          -              -       Withdrawn
Prosper Jewel Arcade L.L.P.           LT Bk Fac          CARE BBB+ (SO) -       Assigned
@backed by unconditional and irrevocable corporate guarantee provided by Malabar Gold Private
Limited (MGPL).
Rakesh Advertising Pvt Ltd            LT Bk Fac          CARE BB-       40      Reaffirmed
Rakesh Advertising Pvt Ltd            LT/ST Bk Fac       CARE BB-/A4    85      Reaffirmed
Rani Sati Agro Food Pvt Ltd           LT Bk Fac          CARE B+        20      ISSUER NOT
                                                                                COOPERATING
Ratnagarbha Agro Pvt Ltd              LT Bk Fac          CARE D         129.9   ISSUER NOT
                                                                                COOPERATING
Real Grow Exim Pvt Ltd                LT Bk Fac          CARE B+        298     ISSUER NOT
                                                                                COOPERATING
Rosetta Ifmr Capital 2017 (Originator:Series A PTC#      ProvCARE A (SO)-       -
Fusion Microfinance Pvt Ltd)
#Series A PTCs are rated on Ultimate Payment basis
S.K. Sulz Fab Pvt Ltd                 LT Bk Fac          CARE B+        90      Revised from
                                                                                CARE B, stable
Sai Chakra Hotels Pvt Ltd             LT Bk Fac@         CARE A+ (SO)   3500    Reaffirmed
@ The rated facility holds credit enhancement in the form of unconditional and irrevocable
corporate guarantee from Prestige Estate Projects Limited.
Sai Venkat Vishnu Hotels Pvt Ltd      LT Bk Fac          CARE BB-       100     ISSUER NOT
                                                                                COOPERATING
Sameer Construction Company           LT Bk Fac          CARE B+        30      Assigned
Sameer Construction Company           LT / ST BkFac      CARE B+/A4     30      Assigned
Santhoshimathaa Edible Oils Refinery  LT Bk Fac          CARE BBB-      114     Reaffirmed
Pvt Ltd
(reduced from 14.95 Crore)
Shanti Motors                         LT Bk Fac          CARE B+        55.8    Revised from
                                                                                CARE BB-
ISSUER NOT COOPERATING
Sindhanur Gangavathi Tollway Pvt Ltd  LT Bk Fac          CARE D         1800    ISSUER NOT
                                                                                COOPERATING
Skm Buildcon                          LT Bk Fac          CARE B+        57.5    ISSUER NOT
                                                                                COOPERATING
Splendid Metal Products Ltd           LT Bk Fac          CARE D         17018.4 ISSUER NOT
                                                                                COOPERATING
Sree Lakshmi Engineering Works        LT Bk Fac          CARE B+        90      Reaffirmed
(Enhanced from Rs.5.00 Crore)
Sri Varsha Food Products India Ltd    LT Bk Fac          CARE BB+       441.5   ISSUER NOT
                                                                                COOPERATING
Srikanth International                LT Bk Fac          CARE BB+       365     Assigned
Sumetco Alloys Pvt Ltd                LT Bk Fac          CARE B+        100     ISSUER NOT
                                                                                COOPERATING
Surya Laxmi Industries                LT Bk Fac          CARE BB+       104.4   Assigned
The Amir Education Society            LT Bk Fac          CARE BB+       55      Revised from
                                                                                CARE BBB-
ISSUER NOT COOPERATING
Tirupati Balajee Nutrition Pvt. Ltd.  LT Bk Fac          CARE B+        77.1    ISSUER NOT
                                                                                COOPERATING
Twenty Four Secure Services Pvt Ltd   LT Bk Fac          CARE BB        50      ISSUER NOT
                                                                                COOPERATING
Umak Educational Trust                LT Bk Fac          CARE D         663.7   ISSUER NOT
                                                                                COOPERATING
Vishnu Barium Pvt Ltd                 LT Bk Fac          CARE BB        219.3   Revised from
                                                                                CARE B+
(reduced from Rs.24.27 crore Crore)
Vriddhi Infratech India Pvt Ltd       LT Bk Fac          CARE BB+       40      Reaffirmed
Ysg Cabs And Logistics Pvt Ltd        LT Bk Fac          CARE B         400     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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