February 23, 2018 / 4:15 AM / 3 months ago

CARE ratings for Indian debt instruments-Feb 23

    Feb 23 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 22, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A H Mallick Agro Services And Cold    ST Bk Fac          CARE A4        2.6     Reaffirmed
Storage Pvt. Ltd.
D.D. Agro Industries Ltd              ST Bk Fac          CARE A4        15
Issuer not cooperating, Based on best available information

East Hooghly Poly Plast Pvt Ltd       Short- term Bk Fac CARE A4+       13.8    Assigned
Excel Composites Pvt Ltd              Short- term Bk Fac CARE A4        11      Assigned
Garg Rice Mill                        ST Bk Fac          CARE A4        2.5
Issuer not cooperating, Based on best available information
Geetanjali Ispat And Powers Pvt Ltd   Short- term Bk     CARE A4        5       Assigned
                                      Facility
Grv Spintex Pvt Ltd                   Short- term Bk Fac CARE A4        38
Issuer not co- operating
Ikf Finance Ltd                       CP (Proposed)      CARE A2+       1000    Reaffirmed
(enhanced from Rs 50 Crore)
Jhaveri Flexo India Ltd               Short- term Bk Fac CARE A3        360
                                      – Non FB Fac
Revised from CARE A4+ ; (Enhanced from 34.00 Crore)
Kulkarni Power Tools Ltd              ST Bk Fac          CARE A4        134.2   Reaffirmed
(reduced from 25.15 Crore)
Kunstocom India Ltd                   ST Bk Fac          CARE A3        60      Reaffirmed
Shree Raj Metalloys Pvt Ltd           ST Bk Fac          CARE A4        20      Reaffirmed
(enhanced from 1.50 Crore)
Shreem Electric Ltd                   Short- term Bk Fac CARE A2        6850
Revised from CARE A2+
Spi Cinemas Pvt Ltd                   Short- term Bk Fac CARE A3+       100     Reaffirmed
Universal Metal Co. Ltd               Short- term Bk Fac CARE A4+       10      Reaffirmed
(reduced from Rs.6.50 Crore)
Veyankatesh Metals Alloys Pvt Ltd     Short- term Bk Fac CARE A4        5       Assigned

LONG TERM RATINGS:
-------------------
A H Mallick Agro Services And Cold    LT Bk Fac          CARE B         85.2    Reaffirmed
Storage Pvt. Ltd.
(reduced from 8.56 Crore)
Baba Bhuman Shah Ji Rice Mills        LT Bk Fac          CARE B         142.8
Issuer not cooperating, Based on best available information
Badu Road Developers Llp              Long- term Bk Fac  CARE BBB-      150     Reaffirmed
Capri Global Capital Ltd              LT Bk Fac          CARE A+        25000   Reaffirmed
(Enhanced from Rs.2000 Crore)
Capri Global Housing Finance Ltd      LT Bk Facility     CARE A-        6000    Reaffirmed
(Enhanced from 300 Crore)
Clover Energy Pvt Ltd                 Long- term Bk Fac  -              -       Withdrawn
                                      (Proposed)
D.D. Agro Industries Ltd              LT Bk Fac          CARE BB-       172.9
Issuer not cooperating, Based on best available information
East Hooghly Poly Plast Pvt Ltd       Long- term Bk Fac  CARE BB+       100.4   Assigned
Excel Composites Pvt Ltd              Long- term Bk Fac  CARE B+        79      Assigned
Garg Rice Mill                        LT Bk Fac          CARE B         137.5
Issuer not cooperating, Based on best available information
Geetanjali Ispat And Powers Pvt Ltd   Long- term Bk      CARE BB-       85      Assigned
                                      Facility
Grv Spintex Pvt Ltd                   Long- term Bk Fac  CARE BB        449.8
Issuer not co- operating
Gupta Enterprises                     Long- term/        CARE BB+/ A4+  892.4
                                      Shortterm Bk Fac
Issuer not cooperating; Revised from CARE BBB; Stable/ CARE A3+ on the basis of best available
information
Gupta Hair Products Pvt Ltd           Long- term/        CARE BB+/ A4+  147.5
                                      Shortterm Bk Fac
Issuer not cooperating; Revised from CARE BBB; Stable/ CARE A3+ on the basis of best available
information
Iris Ecopower Venture Pvt Ltd         Long- term Bk Fac  -              -       Withdrawn
                                      (Proposed)
Jdb Steel Llp                         LT Bk Fac          CARE BB+       445
Revised from CARE BB
Jhaveri Flexo India Ltd               Long- term Bk Fac  CARE BBB-      400
                                      – TL
Revised from CARE BB+
Jhaveri Flexo India Ltd               Long- term Bk Fac  CARE BBB-      50.9
                                      – FB Fac
Revised from CARE BB+; (Reduced from 6.00 Crore)
Kabra Jewels Pvt Ltd                  LT Bk Fac          CARE BB-       100
Issuer not cooperating; Based on best available information
Krishna Shipping And Allied Services  LT Bk Fac          CARE B+        87.5    Reaffirmed
Kulkarni Power Tools Ltd              LT Bk Fac          CARE B+        363.3
Revised from CARE B- ; (reduced from 36.89 Crore)
Kunstocom India Ltd                   LT Bk Fac          CARE BBB-      252.6   Reaffirmed
(reduced from Rs. 28.67 Crore)
Lotus Clean Power Venture Pvt Ltd     Long- term Bk Fac  -              -       Withdrawn
                                      (Proposed)
Maharashtra State Electricity         Long- term Bk Fac  CARE A         10000   Reaffirmed
Transmission Co. Ltd                  - Proposed
(reduced from 100.00 Crore)
Manappuram Home Finance Ltd           LT Bk Fac          CARE AA-       750     Assigned
Mansarover Roller Flour Mills Pvt Ltd LT Bk Fac          CARE B+        56
Issuer not cooperating, Based on best available information
Maple Renewable Power Pvt Ltd         Long- term Bk Fac  -              -       Withdrawn
                                      (Proposed)
Metro Ceramics                        Long- term Bk Fac  CARE BB        56.4
Issuer not co- operating
Metro World Tiles Pvt Ltd             Long- term Bk Fac  CARE BB        95.4
Issuer not co- operating
Mirambica Agro Industries             LT Bk Fac          CARE BB-       65.7    Assigned
Mj Infrastructure                     Long- term Bk Fac  CARE B+        100
Revised from CARE BB
Nhj Infra Pvt Ltd                     Long- term Bk Fac  CARE B         35      Assigned
Nhj Infra Pvt Ltd                     Long- term/ Short- CARE B/ A4     45      Assigned
                                      term Bk Fac
Olive Ecopower Pvt Ltd                Long- term Bk Fac  -              -       Withdrawn
                                      (Proposed)
Orchid Renewable Powertech Pvt Ltd    Long- term Bk Fac  -              -       Withdrawn
                                      (Proposed)
Oriental Pathways (Agra) Pvt Ltd      Long- term Bk Fac  CARE BB        538.2
Revised from CARE D ; (reduced from 78.66 Crore)
Raj Sneh Auto Wheels Pvt Ltd          Long- term Bk Fac  CARE B         150     Assigned
Raja Udyog Pvt Ltd                    Long- term Bk Fac  CARE BB        34.6
Revised from CARE BBB+ (under credit watch with developing implications) to CARE BB; Issuer not
cooperating
Raja Udyog Pvt Ltd                    LT/ Short- termBk  CARE BB/ A4    210
                                      Fac
Revised from CARE BBB+/ CARE A2(under credit watch with developing implications) to CAREBB/ CARE
A4; Issuer not cooperating
Rajarambapu Patil Sah.Dudh Sangh Ltd  Long- term Bk Fac  -              -       Withdrawn
Reethu Tobacco Traders                Long- term Bk Fac  CARE B+        76      Assigned
Rsm Sapthagiri Finance Ltd            LT Bk Fac          CARE BBB       650     Reaffirmed
(Enhanced from Rs.40 Crore)
Ruchi Infrastructure Ltd              LT Bk Fac          CARE BB-       865.7   Reaffirmed
(reduced from 92.39 Crore)
Shree Krishna Cold Storage Pvt. Ltd.  Long- term Bk      CARE B+        100     Assigned
                                      Facility
Shree Raj Metalloys Pvt Ltd           LT Bk Fac          CARE B+        49.6    Reaffirmed
(reduced from 5.00 Crore)
Shreem Electric Ltd                   Long- term Bk Fac- -              -       Withdrawn
                                      WCTL
Shreem Electric Ltd                   Long- term Bk Fac  CARE BBB+      3150
Revised from CARE A-
Siesta Laminates Pvt Ltd              Long- term Bk Fac  CARE BB-       78.4
Issuer not cooperating; Based on best available information
Siwana Solar Power Project Pvt Ltd    Long- term Bk Fac  CARE BB        250     Assigned
Spi Cinemas Pvt Ltd                   Long- term Bk Fac  CARE BBB       2200    Reaffirmed
(enhanced from 180 Crore)
Sri Varadaraja Textiles Pvt Ltd       Long- term Bk Fac  CARE BB        109.9   Reaffirmed
(reduce from 11.93 Crore)
Stuti Processors Pvt Ltd              Long- term Bk Fac  CARE BB-       185.5   Assigned
Tulip Renewable Powertech Pvt Ltd     Long- term Bk Fac  -              -       Withdrawn
                                      (Proposed)
Unison Metals Ltd                     Long- term Bk Fac  CARE BB        217.7   Reaffirmed
(reduced from Rs.21.84 Crore)
Universal Metal Co. Ltd               Long- term Bk Fac  CARE BB        127.5   Reaffirmed
(enhanced from Rs.9.51 Crore)
Veyankatesh Metals Alloys Pvt Ltd     Long- term Bk Fac  CARE B+        45      Assigned
Violet Green Power Pvt Ltd            Long- term Bk Fac  -              -       Withdrawn
                                      (Proposed)
Vnkc Agrocom Pvt Ltd                  Long- term Bk Fac  -              -       Withdrawal
Vnkc Agrocom Pvt Ltd                  Short- term Bk Fac -              -       Withdrawal
Vnkc Agrocom Pvt Ltd                  Long- term/        -              -       Withdrawal
                                      Short term Fac
--------------------------------------------------------------------------------------------
$: 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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