January 10, 2018 / 3:58 AM / 12 days ago

CARE ratings for Indian debt instruments-Jan 10

    Jan 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 9, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aarti Drugs Ltd                       CP                 CARE A1+       500     Assigned
Acara Bioherb Pvt Ltd                 Short- term Bk Fac CARE A4        85      Assigned
Btl Epc Ltd.                          ST Bk Fac (Non-    CARE A3        1153    Reaffirmed
                                      Fund based)
Falcon Yarns Pvt Ltd                  Short- term Bk Fac CARE A4+       45      Assigned
Gujarat Credo Mineral Industries Ltd  Short- term Bk Fac CARE A2        97      Assigned
International Trade Links Pvt Ltd     ST Bk Fac          CARE A4        3       Reaffirmed
(reduced from 3.90 Crore)
Jindal Timber & Plywood Pvt Ltd       Short- term Bk Fac CARE A4        140
ISSUER NOT COOPERATING
Jsp Projects Pvt Ltd                  ST Bk Fac          CARE A3        70
ISSUER NOT COOPERATING
King Yarns Pvt Ltd                    ST Bk Fac          CARE A4        12.8    Reaffirmed
Maruti Nandan Spinning Mill           Short- term Bk Fac CARE A4        29
ISSUER NOT COOPERATING
Nutech Appliances                     Short- term Bk Fac CARE A4        30
ISSUER NOT COOPERATING
Ramkumar Textile Pvt Ltd              Short- term Bk Fac CARE A 4       22.5    Reaffirmed
Realcade Lifescience Pvt Ltd          Short- term Bk Fac CARE A4        14.5    Reaffirmed
(enhanced from 0.85 Crore)
Srm Institute Of Science & Technology Short- term BkFac  CARE A3+       6000    Reaffirmed
Supreme Batteries Pvt Ltd             Short- term Bk Fac CARE A4+       105
Revised from CARE A4
T&T Projects Ltd                      ST Bk Fac          CARE A3+       750     Reaffirmed
Trust Investment Advisors Pvt Ltd     CP (CP)*           CARE A1+       2500    Reaffirmed
(enhanced from Rs.150 Crore); *The above rating is based on the following conditions to be
maintained: 1. For above mentioned CP issuance, Trust Investment Advisors Pvt. Ltd. will keep an
equivalent amount of bank lines unutilized. 2. The securities invested out of CP proceeds would
be invested in AA- and above rated papers and as acceptable to banks as security. 



LONG TERM RATINGS:
-------------------
Aarti Drugs Ltd                       Long- term Bk Fac  CARE A+        2321.4  Assigned
Aarti Drugs Ltd                       Long- term/ Short- CARE A+/A1+    9399.9  Assigned
                                      term BkFac
Anand Arc Ltd                         LT Bk FacST Bk Fac CARE BB        1535    Reaffirmed
Anand Arc Ltd                         Long / ST BkFac    CARE BB/A4     2.5     Reaffirmed
Balwan Poultry & Breeding Farm        Long- term Bk Fac  CARE D         60
ISSUER NOT COOPERATING
Banashankari Institute                Long- term Bk Fac  CARE BB-       50      Assigned
Btl Epc Ltd.                          ST Bk Fac (Fund/   -
                                      Non Fund based)
Withdrawal
Btl Epc Ltd.                          LT Bk Fac (Fund    CARE BBB       850
                                      based)
Reaffirmed with change in outlook from negative
Btl Epc Ltd.                          LT Bk Fac (Non-    CARE BBB       748
                                      Fund based)
Compucom Software Ltd                 Long- term Bk Fac  CARE BBB       10      Assigned
Compucom Software Ltd                 Long- term/ Short- CARE BBB/A3    400     Assigned
                                      term BkFac
Eco Polymers                          LT BkFac           CARE B         67
ISSUER NOT COOPERATING
Falcon Yarns Pvt Ltd                  Long- term Bk Fac  CARE BB+       862.5   Assigned
Gujarat Credo Mineral Industries Ltd  Long- term Bk Fac  CARE BBB+      473     Assigned
India Cartons                         Long- term Bk Fac  CARE BB-       100     Assigned
International Trade Links Pvt Ltd     LT Bk Fac          CARE BB-       245.5   Reaffirmed
(reduced from 28.00 Crore)
Jindal Timber & Plywood Pvt Ltd       Long- term Bk Fac  CARE B+        40
ISSUER NOT COOPERATING
Jsp Projects Pvt Ltd                  LT Bk Fac          CARE BBB-      1580
ISSUER NOT COOPERATING
Keshari Industries Ltd                Long- term Bk Fac  CARE B+        18.6
ISSUER NOT COOPERATING
Keshari Industries Ltd                Long- term/        CARE B+/A4     50
                                      Shortterm Bk Fac
ISSUER NOT COOPERATING
King Yarns Pvt Ltd                    LT Bk Fac          CARE BB        610
Revised from CARE BB-
Maruti Nandan Spinning Mill           Long- term Bk Fac  CARE B+        50
ISSUER NOT COOPERATING
Maruti Nandan Spinning Mill           Long/ Short- term  CARE B+/A4     300
                                      Bk Fac
ISSUER NOT COOPERATING
Mehar Tableware Pvt Ltd               Long- term Bk Fac  CARE BB-       66.8
ISSUER NOT COOPERATING
Mehar Tableware Pvt Ltd               Long- term/ Short- CARE BB-/A4    48
                                      term Bk Fac
ISSUER NOT COOPERATING
Mokama-Munger Highway Ltd             LT Bk Fac – TL     CARE A         681.9   Reaffirmed
                                      (Subordinate Debt)
(reduced from Rs.76.00 Crore)
Mokama-Munger Highway Ltd             LT Bk Fac TL       CARE A+        897.4   Reaffirmed
                                      (Senior Debt)
(reduced from Rs.97.38 Crore)
Mokama-Munger Highway Ltd             Non- Convertible   CARE A+        1450.5  Reaffirmed
                                      Debenture issue
(reduced from Rs.165 Crore)
Nirmal Spinning Mills Pvt Ltd         LT BkFac           CARE B         111
ISSUER NOT COOPERATING
North Bihar Highway Ltd               Long- term Bk Fac  CARE A-        2682.2  Reaffirmed
                                      - TL (Senior Debt)
(reduced from 2751.80 Crore)
North Bihar Highway Ltd               Non- Convertible   CARE A-        1963.5  Reaffirmed
                                      Debenture
North Bihar Highway Ltd               Long- term Bk Fac  CARE BBB+      330     Reaffirmed
                                      – TL (Subordinate
                                      Debt)
(reduced from 39.00 Crore)
Nutech Appliances                     Long- term Bk Fac  CARE B+        37.7
ISSUER NOT COOPERATING
Radix Electrosystems Pvt Ltd          CC                 -                      Withdrawn
Ramkumar Textile Pvt Ltd              Long- term Bk Fac  CARE B+        10      Reaffirmed
Ramkumar Textile Pvt Ltd              Long- term/ short- CARE B+/A4     87.5    Reaffirmed
                                      term Bk Fac
Realcade Lifescience Pvt Ltd          Long- term Bk Fac  CARE B+        318.4
Revised from CARE B (enhanced from 27.00 Crore)
Srm Institute Of Science & Technology Long- term BkFac   CARE BBB+      10320.1
(enhanced from 922.69 Crore)
Supreme Batteries Pvt Ltd             Long- term Bk Fac  CARE BB+       255.5
Revised from CARE BB
Supreme Poultry Pvt Ltd               Long- term Bk Fac  CARE BB-       49.4    Reaffirmed
(reduced from 5.21 Crore)
T&T Projects Ltd                      LT Bk Fac          CARE BBB       170     Reaffirmed
Trust Investment Advisors Pvt Ltd     Non- Convertible   CARE A         1500    Reaffirmed
                                      Debenture (NCD)
Trust Investment Advisors Pvt Ltd     Non- Convertible   CARE A         750     Assigned
                                      Debenture (NCD)
Valliammai Society                    Long- term BkFac   CARE BBB+      730
Revised from CARE BBB+


--------------------------------------------------------------------------------------------
$: 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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