February 19, 2018 / 5:38 AM / 4 months ago

CARE ratings for Indian debt instruments-Feb 19

    Feb 19 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 16, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Acs Technologies Ltd                  ST Bk Fac          CARE A4        40      Assigned
Agarwal Packers & Movers Ltd          ST Bk Fac          CARE A3+       160     Revised from
                                                                                CARE A3
(increased from Rs.12.50 crore Crore)
Godha Cabcon And Insulation Ltd       ST Bk Fac          CARE A4        100     Assigned
Il & Fs Financial Services Ltd        CP issue           CARE A1+       30000   Reaffirmed
(enhanced from Rs.2,750 crore Crore)
Imc Ltd                               ST Bk Fac          CARE A1+       1250    Reaffirmed
J K Electric Contractor               ST Bk Fac          CARE A4        140
ISSUER NOT COOPERATING
Jain Grani Marmo Pvt Ltd              ST Bk Fac          CARE A4        10      Reaffirmed
K.P.R.M Ramasswami Dhal Trading CompanST Bk Fac          CARE A4        15      Assigned
Madhav Industries                     ST Bk Fac          CARE A4        20      Reaffirmed
Maithan Alloys Ltd                    ST BkFac           CARE A1+       4300    Reaffirmed
Newtech Buildhome Pvt Ltd             ST Bk Fac@         CARE A3+ (SO)  140     Assigned
@backed by unconditional and irrevocable corporate guarantee extended by Serveall Land
Developers Private Limited
Rama Handicrafts                      ST BkFac           -              -       Withdrawn
Shantol Green (India) Pvt Ltd         ST Bk Fac          CARE D         0.8     Assigned
Shrine Engineering Pvt Ltd            ST Bk Fac          CARE A4        35      Reaffirmed
ISSUER NOT COOPERATING
Sigachi Industries Pvt Ltd            ST Bk Fac          CARE A3        67.5    Assigned
Slr Metaliks Ltd                      ST Bk Fac ^        CARE A3+(SO)   700     @
^backed by a letter of comfort extended by SFI to secure the facilities.
Solcen Infra Pvt Ltd                  ST Bk Fac          CARE A4        49      Assigned
Teja Industries                       ST Bk Fac          CARE A4        122.5   Reaffirmed

LONG TERM RATINGS:
-------------------
Acs Technologies Ltd                  LT Bk Fac          CARE BB        160     Assigned
Adani Agri Logistics (Kotkapura) Ltd  LT Bk Fac          CARE BBB+      244.8   Revised from
                                                                                CARE BBB
Adani Agri Logistics (Kotkapura) Ltd  LT/ STBk Fac       CARE BBB+/A2   20      Revised from
                                                                                CARE BBB
                                                                                /CAREA3+
Agarwal Packers & Movers Ltd          LT Instruments     -              -       Withdrawn
                                      (NonConvertible
                                      Debentures)#
#Withdrawn as the instrument has been fully redeemed there is no amount outstanding against the
said instrument
Agarwal Packers & Movers Ltd          LT Bk Fac          CARE BBB       350     Reaffirmed
(decreased from Rs.47.50 crore Crore)
Avaada Power Pvt Ltd                  LT Bk Fac –        CARE BBB+      1930    Reaffirmed
                                      Non-fund Based
Avaada Power Pvt Ltd                  LT/ST-Bk Fac -     CARE BBB+/A2   1250    Assigned
                                      Fund Based/NonFund
                                      Based
Avaada Power Pvt Ltd                  LT/ST Bk Fac –     CARE BBB+/A2   2000    Reaffirmed
                                      Non-fund Based
Avr Infra Pvt Ltd                     LT Bk Fac          CARE BBB-      332     Reaffirmed
Berggruen Hotels Pvt. Ltd.            LT Bk Fac- TL      CARE BBB- (SO) 1636.8  Reaffirmed
Chennai Petroleum Corporation Ltd     LT Bonds           CARE AAA       10000   Reaffirmed
Dighi Oil Storage Pvt Ltd             LT Bk Fac          CARE A (SO)    421.8   Reaffirmed
Epistel Impex Pvt Ltd                 LT Bk Fac          CARE BB-       75      Assigned
Godha Cabcon And Insulation Ltd       LT Bk Fac          CARE BB-       84.8    Assigned
Imc Ltd                               LT Bk Fac          CARE A+        10263.5 Reaffirmed
(enhanced from 789.73 Crore)
Imc Ltd                               Issuer Rating      CARE A+ (Is)   -       Reaffirmed
J K Electric Contractor               LT Bk Fac          CARE BB-       10
ISSUER NOT COOPERATING
Jai Venkay Poultry Farms              LT Bk Fac          CARE D         77.4
ISSUER NOT COOPERATING
Jain Grani Marmo Pvt Ltd              LT Bk Fac          CARE B         1       Revised from
                                                                                CARE BB-/A4
Jain Grani Marmo Pvt Ltd              LT/ST BkFac        CARE B/A4      50      Revised from
                                                                                CARE BB-/A4
Janwani Foods Industries              LT Bk Fac          -              -       Withdrawn
Jubilee Infrastructures               LT Bk Fac          CARE B+        60      Assigned
K.P.R.M Ramasswami Dhal Trading CompanLT Bk Fac          CARE B+        60      Assigned
Kabra Transport Pvt. Ltd.             LT Bk Facility     CARE BB        70      Assigned
Kala Infrastructure                   LT Bk Fac          CARE BB-       75      Assigned
Kandla Packaging Pvt Ltd              LT Bk Fac          CARE B+        120
ISSUER NOT COOPERATING
Lokesh Industrial Services Pvt Ltd    LT Bk Fac          CARE BB-       100     Reaffirmed
Lokesh Infraproject Pvt Ltd           LT Bk Fac          CARE BB-       100     Reaffirmed
Madhav Industries                     LT Bk Fac          CARE BB        151     Revised from
                                                                                CARE BB-
(reduced from 19.00 Crore)
Maithan Alloys Ltd                    LT BkFac           CARE AA-       1309.9  Revised from
                                                                                CARE A+
Meenaxi Exports                       LT Bk Fac/ ST Bk   CARE B+/A4     90      Reaffirmed
                                      Fac
Newtech Buildhome Pvt Ltd             LT Bk Fac@         CARE BBB (SO)  1000    Assigned
@backed by unconditional and irrevocable corporate guarantee extended by Serveall Land
Developers Private Limited
Oriental Enterprise Pvt Ltd           LT Bk Fac          CARE BB+       204.1   Revised from
                                                                                CARE BB
ISSUER NOT COOPERATING/
Oriental Enterprise Pvt Ltd           LT/ST Bk Fac       CARE BB+/A4+   170     Revised from
                                                                                CARE BB/CARE
                                                                                A4+
ISSUER NOT COOPERATING
Oriental Nicco Projects Pvt Ltd       LT Bk Fac          CARE BB+       150     Revised from
                                                                                CARE BB
ISSUER NOT COOPERATING
Oriental Nicco Projects Pvt Ltd       LT/ST Bk Fac       CARE BB+/A4+   350     Revised from
                                                                                CARE BB/CARE
                                                                                A4+
ISSUER NOT COOPERATING
Png Brothers (Earlier Known As Png    LT Bk Fac          CARE BBB       652     Reaffirmed
Jewellery & Gems)
(enhanced from 30.80 Crore)
Png Brothers (Earlier Known As Png    Long- term/ ST Bk  CARE BBB/A3+   600     Reaffirmed
Jewellery & Gems)                     Fac
(enhanced from 52.00 Crore)
Polysil Irrigation Systems Pvt Ltd    Long/ ST Bk Fac    CARE BBB-/A3   130     Reaffirmed
(enhanced from 10.00 Crore)
Premier Plasmotec Pvt Ltd             Long term Bk Fac   CARE BB        108.3   Assigned
Rama Handicrafts                      LT BkFac           -              -       Withdrawn
Servotech Power Systems Ltd           LT Bk Fac          CARE BB+       102.6   Assigned
Servotech Power Systems Ltd           LT/ ST Bk Fac      CARE BB+/A4+   40      Assigned
Shantol Green (India) Pvt Ltd         LT Bk Fac          CARE D         143.9   Assigned
Shine Textile                         LT Bk Facility     CARE BB        125     Assigned
Shree Ganpatlal Onkarlal Agrawal & Co.LT Bk Fac          -              -       Withdrawn
Shrine Engineering Pvt Ltd            LT Bk Fac          CARE BB-       20      Revised from
                                                                                CARE B
Sigachi Industries Pvt Ltd            LT Bk Fac          CARE BBB-      282.1   Reaffirmed
(enhanced from 10.00 Crore)
Slr Metaliks Ltd                      LT Bk Fac (Fund    CARE BBB (SO)  1150    @
                                      Based)^                                   
^backed by a letter of comfort extended by SFI to secure the facilities.
Slr Metaliks Ltd                      LT Bk Fac (TL)#    CARE BBB+ (SO) 4400    @
#backed by the unconditional and irrevocable corporate guarantee provided by Sociedade De
Fomento Industrial Private
Limited (SFI)
Sociedade De Fomento Industrial Pvt LtLT Bk Fac          CARE BBB+      875     @
Solcen Infra Pvt Ltd                  LT Bk Fac          CARE BB-       33.5    Assigned
Southern Pharma India Pvt Ltd         LT Bk Fac          CARE D         158
ISSUER NOT COOPERATING
Sree Sannidhi Foods Pvt Ltd           LT Bk Fac          CARE BB        87      Assigned
Teja Industries                       LT Bk Fac          CARE BB        70      Revised from
                                                                                CARE BB-
Utopian Sugars Ltd                    LT Bk FacTL        CARE D         1360    Reaffirmed
Velox Ceramic                         LT Bk Fac          CARE BB-       62.5    Revised from
                                                                                CARE B+
(reduced from 7.46 Crore)
Velox Ceramic                         LT/ST BkFac        CARE BB-/A4    17.5    Revised from
                                                                                CARE B+/
                                                                                reaffirmed
Vippy Industries Ltd                  LT/ST BkFac        CARE A-/A2+    313     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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