February 12, 2018 / 4:54 AM / 2 months ago

CARE ratings for Indian debt instruments-Feb 12

    Feb 12 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 9 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A.S.Betgeri                           ST Bk Fac          CARE A4        44.8    Reaffirmed
Aloke Steels Industries Pvt Ltd       ST Bk Fac          CARE A3+       3.3     Reaffirmed
(Reduced from 1.20 Crore)
Armour Display Systems Pvt Ltd        ST Bk Fac          CARE A3 +      20      Assigned

Arun Excello Urban Infrastructure Pvt ST Bk Fac          -              -       Withdrawn
Ltd
Avexa Corporation Pvt Ltd             ST Bk Fac          CARE A3+       1200    Reaffirmed
(reduced from Rs. 125 crore Crore)
Best It World (India) Pvt Ltd         ST Bk Fac          CARE A3        1450    Revised from
                                                                                CARE A4+
C.M. Industries                       ST Bk Fac          CARE A4        50      Assigned
Fedders Electric & Engineering Ltd    ST Bk Fac          CARE A3        7620    Revised from
                                                                                CARE A3+
(reduced from 885.00 Crore)
Fenasia Ltd                           ST Bk Fac          CARE A4        17      Assigned
Gemini Equipment And Rentals Pvt Ltd  ST Bk Fac          CARE D         6       -
ISSUER NOT COOPERATING
Gjs Infratech Pvt Ltd                 ST Bk Fac          CARE A3        540     Reaffirmed
Gulshan Prints Pvt Ltd                ST Bk Fac          -              -       Withdrawn
Iifl Management Services Ltd          CP (CP)            CARE A1+       2000    Reaffirmed
Impetus Infotech (India) Pvt Ltd      ST BkFac           CARE A1        145     Reaffirmed
Jharkhand Ispat Pvt Ltd               ST BkFac           -              -       Withdrawn
K P Saha Pvt Ltd                      ST Bk Fac          CARE A4        4.5     Assigned
Lata Exports Apparels Pvt Ltd         ST Bk Fac          CARE D         67.5    -
ISSUER NOT COOPERATING
Maa Chhinnmastika Cement & Ispat Pvt LST BkFac           CARE A3+       2.7     Reaffirmed
Malvika Technical Services            ST Bk Fac          CARE A4        76      Assigned
Mechemco Industries                   ST BkFac           CARE A4        20      Revised from
                                                                                CARE A4+
Prafulla Kumar Mohanty                ST Bk Fac          CARE A4        35      -
ISSUER NOT COOPERATING
Samasta Microfinance Ltd              CP                 CARE A1        1000    Reaffirmed
Satyadeeptha Pharmaceuticals Ltd      ST Bk Fac          CARE A3        120     Reaffirmed
Shiv Mahima Milk Products Pvt Ltd     ST Bk Fac          CARE A4        10      Assigned
Shri Dinesh Mills Ltd                 ST Bk Fac          CARE A1+       48.3    Reaffirmed
Sri Sai Balaji Associates             ST Bk Facility     CARE A4        69      Assigned
Talbros Engineering Ltd               ST Bk Fac          CARE A2+       278     Revised from
                                                                                CARE A2
(Reduced from 30.00 Crore)
Travancore Cocotuft Pvt Ltd           ST Bk Fac          CARE A4+       70      Assigned
Viacom18 Media Pvt Ltd                ST Bk Fac          CARE A1+       2000    Reaffirmed
Viacom18 Media Pvt Ltd                CP                 CARE A1+       5000    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Harsha Engineers Ltd                  Medium Term Fixed  -              -       Withdrawn
                                      Deposit Instrument
LONG TERM RATINGS:
-------------------
A.S.Betgeri                           LT Bk Fac          CARE B+        30      Revised from
                                                                                CARE BB-
Aloke Steels Industries Pvt Ltd       LT Bk Fac          CARE BBB+      178     Reaffirmed
Araanya Mines Pvt Ltd                 LT BkFac           CARE BBB+(SO)  550     Reaffirmed
Armour Display Systems Pvt Ltd        LT Bk Fac          CARE BBB       29.2    Assigned
Arun Excello Urban Infrastructure Pvt LT Bk Fac          CARE BB        170     Reaffirmed
Ltd
Arun Fabricators                      LT Bk Fac          CARE BB        908     Reaffirmed
Avexa Corporation Pvt Ltd             LT Bk Fac          CARE BBB+      750     Revised from
                                                                                CARE BBB
(enhanced from Rs. 70 crore Crore)
Avexa Corporation Pvt Ltd             LT/ST BkFac        CARE BBB+/A3+  2050    Revised from
                                                                                CARE BBB
                                                                                /CARE A3+
Balaji Polycot Pvt Ltd                LT BkFac           CARE BB-       115.5   Issuer not
                                                                                cooperating
Best It World (India) Pvt Ltd         LT Bk Fac          CARE BBB-      800     Revised from
                                                                                CARE BB+
Bridgestone India Pvt Ltd             LT/ST Bk Fac       CARE AAA/A1+   4730    Reaffirmed
C.M. Industries                       LT Bk Fac          CARE B         50      Assigned
Cg Tollway Pvt Ltd                    Long Term Bk Fac   CARE A+(SO)    14000   Assigned
                                      (TL)#
# Irrevocable and unconditional Corporate Guarantee of Sponsor, IRB Infrastructure Developers
Limited (IRBIDL) to meet any shortfall in (a) project cost funding (b) meeting the Major
Maintenance requirement of the Project (c) meeting any shortfall in Debt Servicing (d) to meet
any shortfall in one quarter s Debt Service Reserve (e) Termination payment to meet the entire
outstanding debt obligation in case of termination of Concession due to any event during entire
loan tenor (before and after COD)
Classic Promoters & Builders Pvt Ltd  NCD                CARE B         2000    Assigned
Dhareshwar Ginning Industries         Long- term Bk Fac  CARE B+        62.4    Reaffirmed
(reduced from 6.63 Crore)
Diagold Creations Pvt Ltd             LT / ST Bk Fac     CARE BB-/A4    -       Revised from
                                                                                CARE
                                                                                BB-/Reaffirmed
[Reduced from Rs.9.00 crore]
Fedders Electric & Engineering Ltd    LT Bk Fac          CARE BBB       4600    Revised from
                                                                                CARE BBB+
(reduced from 568.17 Crore)
Fenasia Ltd                           LT Bk Fac          CARE B+        78      Assigned
Gdn Enterprises Ltd                   LT Bk Fac          CARE BBB       500     Assigned
Gemini Equipment And Rentals Pvt Ltd  LT Bk Fac          CARE D         102     -
ISSUER NOT COOPERATING
Gjs Infratech Pvt Ltd                 LT Bk Fac          CARE BBB-      210     Reaffirmed
Gulshan Prints Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Hsil Ltd                              LT BkFac           CARE AA-       4683.3  #
(enhanced from 432.58 Crore)
Impetus Infotech (India) Pvt Ltd      LT BkFac           CARE A         459.2   Reaffirmed
(reduced from Rs.54.05 crore Crore)
India Infoline Finance Ltd            LT Bk Fac          CARE AA        20000   Reaffirmed
India Infoline Finance Ltd            NCDs               CARE AA        27000   Reaffirmed
India Infoline Finance Ltd            PS                 CARE AA        500     Reaffirmed
India Infoline Finance Ltd            Subordinated Debt  CARE AA        2000    Reaffirmed
India Infoline Housing Finance Ltd    LT NCD             CARE AA        5000    Reaffirmed
India Infoline Housing Finance Ltd    LT NCD             CARE AA        4000    Reaffirmed
Indices Agro Food Products            LT Bk Fac          CARE B+        120     Assigned
Indices Agro Food Products            Long- term/ ST     CARE B+/A4     30      Assigned
                                      BkFac
Indsur Global Ltd                     LT Bk Fac          CARE BB+       214.9   Reaffirmed
Indsur Global Ltd                     Long/ST BkFac      CARE BB+/A4    235     Reaffirmed
Jharkhand Ispat Pvt Ltd               LT BkFac           CARE BBB       235     Reaffirmed
(Reduced from 33.50 Crore)
Joy Syndicate & Enclave Pvt Ltd       LT Bk Fac          -              -       Withdrawn
K P Saha Pvt Ltd                      LT Bk Fac          CARE BB-       95.5    Assigned
L&T South City Projects Pvt Ltd       Proposed LT Bk Fac -              -       Withdrawn
Lata Exports Apparels Pvt Ltd         LT Bk Fac          CARE D         75      -
ISSUER NOT COOPERATING
Leel Electricals Ltd                  LT Bk Fac – TL     -              -       Withdrawn
Leel Electricals Ltd                  LT Bk Fac          CARE A-        4550    Reaffirmed
                                                                                and removed
                                                                                from Credit
                                                                                Watch
(reduced from 982.13 Crore)
Leel Electricals Ltd                  LT/ST BkFac        CARE A-/A2     5950    Reaffirmed
                                                                                and removed
                                                                                from Credit
                                                                                Watch
(reduced from 1135.00 Crore)
Maa Chhinnmastika Cement & Ispat Pvt LLT BkFac           CARE BBB+      147.6   Reaffirmed
Malvika Technical Services            LT Bk Fac          CARE BB-       7.5     Assigned
Mechemco Industries                   LT BkFac           CARE BB+       63.5    Reaffirmed
Mps Telecom Pvt Ltd                   LT Bk Fac          CARE BBB       200     Assigned
Mps Telecom Retail Ltd                LT Bk Fac          CARE BBB       430     Assigned
Mumbai Products (India)               LT Bk Fac          CARE BB-       122.6
ISSUER NOT COOPERATING
National Extrusion                    LT Bk Fac          CARE B+        35.4    -
ISSUER NOT COOPERATING
National Extrusion                    LT/ ST Bk Fac      CARE B+/A4     20      -
ISSUER NOT COOPERATING
Optiemus Electronics Ltd              LT Bk Fac          CARE BBB       190     Assigned
Optiemus Infracom Ltd                 LT Bk Fac          CARE BBB       2315    Assigned
Padam Shree Tex Fab Pvt Ltd           LT Bk Fac          CARE BB-       150
ISSUER NOT COOPERATING
Prafulla Kumar Mohanty                LT Bk Fac          CARE BB-       50      -
ISSUER NOT COOPERATING
R. K. Industries                      LT Bk Fac          CARE BB-       150     Assigned
Raj Foods International               LT/ ST Bk Fac      -              -       Withdrawn
Samasta Microfinance Ltd              LT Bk Fac          CARE A         77.1    Reaffirmed
Samasta Microfinance Ltd              NCDs               CARE A         50      Reaffirmed
Samasta Microfinance Ltd              NCDs (unsecured,   CARE A         50      Reaffirmed
                                      subordinated)
Sankheswaraa Gold Exports Pvt Ltd     LT Bk Fac          CARE B-        125     Revised from
                                                                                CARE B
ISSUER NOT COOPERATING
Sanwariyaji Synthetics                LT Bk Fac          -              -       Withdrawn
Sanwariyaji Texfab Industries Ltd     LT Bk Fac          -              -       Withdrawn
Satyadeeptha Pharmaceuticals Ltd      LT Bk Fac          CARE BBB-      516     Reaffirmed
(enhanced from 25.85 Crore)
Sethia Foods                          LT Bk Fac          CARE BB+       77.8    Reaffirmed
Sharwin Cottex                        LT BkFac           CARE B+        145     -
ISSUER NOT COOPERATING
Shiv Mahima Milk Products Pvt Ltd     LT Bk Fac          CARE B+        173.5   Reaffirmed
Shri Dinesh Mills Ltd                 LT Bk Fac          CARE A         123.9   Reaffirmed
(reduced from Rs.16.83 crore Crore)
Shri Laxmi Polycoat Pvt Ltd           LT BkFac           CARE BB        108.7   -
ISSUER NOT COOPERATING
Sri Sai Balaji Associates             LT Bk Facility     CARE B         6       Assigned
Talbros Engineering Ltd               LT Bk Fac          CARE A-        202     Revised from
                                                                                CARE BBB+
(Enhanced from 18.00 Crore)
Techfab International Pvt Ltd         LT/ST BkFac        CARE BBB/A2    600     Reaffirmed
                                                                                /Reclassified
(enhanced from 30.00 Crore)
Teleecare Network India Pvt Ltd       LT Bk Fac          CARE BBB       1710    Assigned
Viacom18 Media Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Viacom18 Media Pvt Ltd                Long/ST BkFac      CARE AA /A1+   13250   $ Reaffirmed
(enhanced from 675 Crore)
--------------------------------------------------------------------------------------------
$: 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