January 11, 2018 / 7:30 AM / 5 months ago

CARE ratings for Indian debt instruments-Jan 11

    Jan 11 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 10, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Electro International Company Pvt Ltd ST Bk Fac          CARE A4        37.5    Assigned
Euro Safety Footwear India Pvt Ltd    ST Bk Fac          CARE A4+       315     Reaffirmed
H. M. Patel And Compan                ST Bk Fac          CARE A4        45      Assigned
Keda Ceramic Pvt Ltd                  ST Bk Fac          CARE A4        16      Assigned

Lalaji Travels Pvt Ltd                ST Bk Facility     CARE A4        110     Assigned
Mideast Integrated Steels Ltd         ST Bk Fac          CARE A4        1000    -
                                      (Proposed)
Placed on Credit watch with developing implications
M.P.K. Steels India Pvt Ltd           ST Bk Fac          CARE D         72.5    -
Qutone Granito Pvt Ltd                ST Bk Fac          CARE A2        91      Revised from
                                                                                CARE A3+
Qutone Tiles Pvt Ltd                  ST Bk Fac          CARE A2        61.4    Revised from
                                                                                CARE A3+
Regen Powertech Pvt Ltd               ST Bk Fac (Fund    CARE D         500     Revised from
                                      Based) – EPC/PSC                          CARE A3+
Shakti Polyweave Pvt Ltd              ST Bk Fac          CARE A2        70      Assigned
Spring Overseas Pvt Ltd               ST Bk Fac          CARE A4        47.5    Assigned
Star Paper Mills Ltd                  ST Bk Facility     CARE A4+       100     -
Sun Industrial Automation And SolutionST Bk Fac          CARE A4        30      Assigned
Vipul Ltd                             ST Bk Fac          CARE A4        180     Reaffirmed

LONG TERM RATINGS:
-------------------
Artedz Fabs Pvt Ltd                   LT Bk Fac          CARE BB-       111     Revised from
                                                                                CARE B
Avon Plastic Industries Pvt Ltd       LT Bk Fac          CARE BBB       150     Assigned
Bagori Polymers Pvt Ltd               LT Bk Fac          CARE BB-       143.5   Assigned
Electro International Company Pvt Ltd LT Bk Fac          CARE B+        82.5    Assigned
Euro Safety Footwear India Pvt Ltd    LT Bk Fac          CARE BB+       146.9   Reaffirmed
Frystal Pet Pvt Ltd                   LT Bk Fac          CARE B+        120     Revised from
                                                                                CARE BB-
Issuer Not Cooperating
Gaya Railway Infra Pvt Ltd            LT Bk Fac          CARE B+        90      -
Issuer Not Cooperating; Based on best available information
Geo-Fresh Organic                     LT Bk Fac          CARE BBB       29.8    Assigned
Geo-Fresh Organic                     LT/ST Bk Fac       CARE BBB / A3  57.5    Assigned
H. M. Patel And Compan                LT Bk Fac          CARE B+        15      Assigned
Himalayan Heli Services Pvt Ltd       LT Bk Fac          CARE BB        186.7   Revised from
                                                                                CARE BB+
Issuer Not Cooperating
Indianoil Lng Pvt Ltd                 Compulsorily       CARE AAA       7870    Final Rating
                                      convertible
                                      debentures
Keda Ceramic Pvt Ltd                  LT Bk Fac          CARE BB-       111.5   Assigned
M.P.K. Steels India Pvt Ltd           LT Bk Fac          CARE D         156.7   -
Issuer not cooperating; Based on best available information
Issuer not cooperating; Based on best available information
Mangal Shanti Development Corporation LT Bk Fac          -              -       Withdrawn
Mideast Integrated Steels Ltd         LT Bk Fac          CARE BB-       1000    -
                                      (Proposed )
Placed on Credit watch with developing implications
Mittal Forgings And Components Pvt LtdLT Bk Fac          CARE BB        59.2    -
Issuer Not Cooperating
Qutone Ceramic Pvt Ltd                LT Bk Fac          CARE BBB+      506     Revised from
                                                                                CARE BBB
Qutone Ceramic Pvt Ltd                LT/ ST Bk Fac      CARE BBB+/A2   45      Revised from
                                                                                CARE BBB/A3+
Qutone Granito Pvt Ltd                LT Bk Fac          CARE BBB+      1744.7  Revised from
                                                                                CARE BBB
Qutone Tiles Pvt Ltd                  LT Bk Fac          CARE BBB+      1049.6  Revised from
                                                                                CARE BBB
Rama Udyog Pvt Ltd                    LT Bk Fac          CARE BBB-      150     Assigned
Regen Powertech Pvt Ltd               LT Bk Fac - TL     CARE D         250     Revised from
                                                                                CARE BBB-
Regen Powertech Pvt Ltd               LT Bk Fac (Fund    CARE D         3500    Revised from
                                      Based) - CC                               CARE BBB-
Regen Powertech Pvt Ltd               LT Bk Fac (Fund    CARE D         376.4   Revised from
                                      Based) – ECB                              CARE BBB-
Regen Powertech Pvt Ltd               Long/ST Bk         CARE D         9050    Revised from 
Fac                                   (Non-Fund Based)                          CARE BBB-/A3
                                      BG 
Regen Powertech Pvt Ltd               Long/ST Bk Fac     CARE D         3100    Revised from
                                      (Non-Fund Based) –                        CARE BBB-/A3
                                      LC/BG
Regen Powertech Pvt Ltd               Long/ST Bk Fac     CARE D         3150    Revised from
                                      (Non-Fund Based) –                        CARE BBB-/A3
                                      LC
Shakti Polyweave Pvt Ltd              LT Bk Fac          CARE BBB+      408.9   Assigned
Shakti Polyweave Pvt Ltd              LT/ST Bk Fac       CARE BBB+ / A2 520     Assigned
Shriram Transport Finance Co. Ltd     Series A PTC       CARE AAA       10003.9 Assigned
Spring Overseas Pvt Ltd               LT Bk Fac          CARE BB-       12      Assigned
Spring Overseas Pvt Ltd               LT/ ST Bk Fac      CARE BB-/A4    0.5     Assigned
Star Paper Mills Ltd                  LT Bk Facility     CARE BB+       190     -
Issuer not cooperating
Sun Industrial Automation And SolutionLT Bk Fac          CARE B+        60      Assigned
Suncity Buildcon Pvt Ltd              LT Bk Fac @        CARE BBB (SO)  3150    Assigned
@Backed by credit enhancement in the form of Suncity Projects Private Limited rated ‘CARE BBB;
Stable / CARE A3’ revised from ‘CARE BBB-; Stable / CARE A3’ in December-2017 acting as a
co-borrower
Suryansh Agro                         LT Bk Fac          CARE B         63.3    Assigned
Teemage Builders Pvt Ltd              LT Bk Fac          CARE BBB-      250     Assigned
Thomas And Company Pvt Ltd            LT Bk Fac          CARE B+        65      Reaffirmed
Tunga Pvc Pipes Pvt Ltd               LT Bk Fac          CARE BBB       150     Assigned
Vipul Ltd                             LT Bk Fac          CARE BB        5251.2  Reaffirmed
--------------------------------------------------------------------------------------------
$: 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