January 16, 2018 / 6:48 AM / a month ago

CARE ratings for Indian debt instruments-Jan 16

    Jan 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 15, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Accurate Gauging And Instruments Pvt  Short term Bk Fac  CARE A4+       4       Re-affirmed
Ltd 
Arcadia Shipping Ltd                  ST Bk Fac (BG)     CARE A4        10      Reaffirmed
Bagh Bahar Appliances Pvt Ltd         ST Bk              -              -       Withdrawn
                                      Fac(Non-fund Based)
Basanti Devi Rice Mill Pvt Ltd        ST Bk Fac          CARE A4        0.59    Assigned
Diamond Beverages Pvt Ltd             ST Bk Fac          CARE A3        2       Reaffirmed

Enershell Alloys & Steel Pvt Ltd      ST Bk Fac          CARE A4        15.2    Revised from
                                                                                CARE D
Excel Metal Processors Pvt Ltd        ST Bk Fac          CARE D         20      -
ISSUER NOT COOPERATING
Hmt Machine Tools Ltd                 ST Fac             CARE A4        72.9    Reaffirmed
Jalaram Ginning Factory               ST Bk Fac          CARE A4        0.14    Reaffirmed
Jhajharia Nirman Ltd                  ST Bk Fac          CARE A3+       69.75   Assigned
Maruti Enterprises                    ST Bk Fac          CARE A4        60      Assigned
National Polyplast (India) Ltd        ST Bk Fac          -              -       Withdrawn
Santosh Starch Products Ltd           ST BkFac           CARE A4        2       Reaffirmed
Sharekhan Bnp Paribas Financial       CP Issue (IPO      CARE A1+       20000   Assigned
Services Pvt Ltd (Erstwhile Sharekhan Financing)
Financial Services Private Ltd
Shree Sant Kripa Appliances Pvt Ltd   ST Bk              CARE A2        500     Reaffirmed
                                      Fac(Non-fund Based)
(reduced from 75.00 Crore)
Sify Technologies Ltd                 ST Bk Fac          CARE A1+       630     Reaffirmed
Srishti Infrastructures Ltd           ST BkFac           CARE A4        73      Assigned
Ssk Infotech Pvt Ltd                  ST Bk Fac          CARE A2        20      Reaffirmed
                                      (Non-fund Based)
(reduced from 5.00 Crore)
Syska Led Lights Pvt Ltd              ST Bk              CARE A2        520     Reaffirmed
                                      Fac(Non-fund Based)
Thomson Press India Ltd               ST Bk Fac          CARE A2+       250     Assigned
Western India Metal Processors Ltd    ST Bk Fac          CARE D         230     -
ISSUER NOT COOPERATING 

LONG TERM RATINGS:
-------------------
Accurate Gauging And Instruments Pvt  LT Bk Fac          CARE BB+       2.22    Re-affirmed
Ltd 
Accurate Gauging And Instruments Pvt  Long/Short term    CARE BB+/A4+   4       Re-affirmed
Ltd                                    Bk Fac                                                   
                 
Adani Agri Logistics (Kannauj) Ltd    LT Bk Fac          CARE BBB       35.09   Assigned
Adani Agri Logistics (Kannauj) Ltd    LT/ST Bk Fac       CARE BBB/A3+   3       Assigned
Adani Agri Logistics (Panipat) Ltd    LT Bk Fac          CARE BBB       35.94   Assigned
Adani Agri Logistics (Panipat) Ltd    LT/ST Bk Fac       CARE BBB/A3+   3       Assigned
Aditya Birla Sun Life Asset ManagementClose Ended        CARE AAAmfs    -       Withdrawn
Company Ltd.                          Capital Protection (SO)
                                      Oriented Fund
Arcadia Shipping Ltd                  LT Bk Fac          CARE D         129.12  Revised from
                                                                                CARE BB-
Bagh Bahar Appliances Pvt Ltd         Long Term Bk       CARE A-        80      Reaffirmed
                                      Fac(Fund based)
(enhanced from 75.00 Crore)
Basanti Devi Rice Mill Pvt Ltd        LT Bk Fac          CARE BB        6.33    Assigned
Bhoomidhan Cold Storage               LT Bk Fac          -              -       Withdrawn
Diamond Beverages Pvt Ltd             LT Bk Fac          CARE BBB-      132.15  Reaffirmed
(enhanced from 82.45 Crore)
Divine Mission Educational Trust      LT Bk Fac          CARE B         7.56    Reaffirmed
(Enhanced from Rs. 6.00 crore Crore)
Enershell Alloys & Steel Pvt Ltd      LT Bk Fac          CARE B         34.76   Revised from
                                                                                CARE D
(reduced from Rs.36.07 crore Crore)
Engineered Power Resources India Pvt  LT BkFac           CARE BB-       12.52   -
Ltd 
ISSUER NOT COOPERATING
Excel Metal Processors Pvt Ltd        LT Bk Fac          CARE D         38.12   -
ISSUER NOT COOPERATING
Hmt Machine Tools Ltd                 LT Bk Fac          CARE C         49.82   Reaffirmed
Ice Make Refrigeration Ltd (Erstwhile LT Bk Fac          CARE BBB+      1.53    Reaffirmed
Ice Make Refrigeration Pvt Ltd)
Ice Make Refrigeration Ltd (Erstwhile LT/STBk Fac        CARE BBB+/CARE 12.5    Reaffirmed
Ice Make Refrigeration Pvt Ltd)                          A2
(enhanced from Rs.9.50 crore Crore)
Jalaram Ginning Factory               LT/ Short term     CARE B+        7.5     Reaffirmed
                                      Bk Fac
Jalaram Ginning Factory               LT Bk Fac          CARE B+        0.32    Reaffirmed
Jhajharia Nirman Ltd                  LT Bk Fac          CARE BBB       3.25    Assigned
Jorabat Shillong Expressway Ltd       *Senior NCD (NCDs) CARE AAA (SO)  641.2   Final Rating
*the rating for the NCD Issues are backed by discounting of future annuities receivable from
National Highways Authority of India (rated CARE AAA; Stable) apart from the presence of a
structured payment mechanism and various credit enhancement features
Jorabat Shillong Expressway Ltd       *Subordinate Non   CARE AAA (SO)  242.16  Final Rating
                                      Convertible Deb
                                      (NCDs)
*the rating for the NCD Issues are backed by discounting of future annuities receivable from
National Highways Authority of India (rated CARE AAA; Stable) apart from the presence of a
structured payment mechanism and various credit enhancement features
Mahajan Engineering Works             LT Bk Fac          CARE BBB-      150     Reaffirmed
(enhanced from Rs.10.00 crore Crore)
Manav Infra Projects Ltd              LT Bk Fac          CARE BB        38      Assigned
Maruti Enterprises                    LT Bk Fac          CARE B         72.5    Assigned
Nandan Associates                     LT Bk Fac (FB)     -              -       Withdrawn
National Polyplast (India) Ltd        LT Bk Fac          -              -       Withdrawn
Om Lamcoat Pvt Ltd                    LT Bk Fac          -              -       Withdrawn
Pavan Agro Foods                      LT Bk Fac          CARE B         54.8    Assigned
Purna Pharmaceuticals Pvt Ltd         LT Bk Fac          CARE BB        150     -
ISSUER NOT COOPERATING
Ram Swaroop Rameshwarlal Jewellers    LT Bk Fac          CARE BB        120     Assigned
Santosh Starch Products Ltd           LT Bk Fac          CARE BB        13      Reaffirmed
Santosh Starch Products Ltd           LT/STBk Fac        CARE BB/A4     180     Reaffirmed
(enhanced from 13.50 Crore)
Satyam Agro Industries                LT Bk Fac          CARE BB-       90.1    Assigned
Shivam Cot Fibers Pvt Ltd             LT Bk Fac          CARE BB-       72.7    Assigned
Shree Nath Gum And Chemicals          LT BkFac           CARE BB        20      Revised from
                                                                                CARE BB-
Shree Nath Gum And Chemicals          LT/shortterm Bk FacCARE BB/A4     60      Revised from
                                                                                CARE
                                                                                BB-/Reaffirmed
Shree Sant Kripa Appliances Pvt Ltd   Long Term Bk       CARE A-        6850    Rating
                                      Fac(Fund based)                           reaffirmed
(enhanced from Rs.625.00 Crore)
Sify Technologies Ltd                 LT Bk Fac          CARE A+        6978    Reaffirmed
Sify Technologies Ltd                 Long / ST Bk Fac   CARE A+/A1+    1240    Reaffirmed
Srishti Infrastructures Ltd           LT BkFac           CARE BB        35      Assigned
Ssk Infotech Pvt Ltd                  LT Bk Fac(TL)      CARE A-        71.7    Rating
                                                                                Reaffirmed
(reduced from 11.00 Crore)
Ssk Infotech Pvt Ltd                  LT Bk Fac(Fund     CARE A-        50      Reaffirmed
                                      based)                                   
(reduced from 9.00 Crore)
Ssk Retails Pvt Ltd                   LT Bk Fac(Fund     CARE A-        250     Rating
                                      based)                                    reaffirmed
(reduced from 30.00 Crore)
Sun Agri Fresh Industries Pvt Ltd     LT Bk Fac          CARE D         432.8   Revised from
                                                                                CARE BB-
ISSUER NOT COOPERATING
Sun Agri Fresh Industries Pvt Ltd     LT Bk Fac          CARE D         142.2   Revised from
                                      (Proposed)                                CARE BB-
ISSUER NOT COOPERATING
Sun Agri Fresh Industries Pvt Ltd     LT/ST Bk Fac       CARE D/D       25      Revised from
                                      (Proposed)                                CARE BB-/CARE
                                                                                A4
ISSUER NOT COOPERATING
Sundaram Industries                   LT Bk Fac          CARE BB-       75      Assigned
Svr Corporation Pvt Ltd               LT Bk Fac          CARE B+        95      Assigned
Syska Led Lights Pvt Ltd              Long Term Bk       CARE A-        980     Reaffirmed
                                      Fac(Fund based)
(enhanced from 90.00 Crore)
Thomson Press India Ltd               LT Bk Fac          CARE A-        980     Assigned
Vardaan Lifestyle Ltd                 LT Bk Fac          CARE B+        150     Re-affirmed
Western India Metal Processors Ltd    LT Bk Fac          CARE D         700     -
ISSUER NOT COOPERATING
Women’S Next Loungeries Ltd           LT Bk Fac          CARE B         125     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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