January 17, 2018 / 5:54 AM / 7 months ago

CARE ratings for Indian debt instruments-Jan 17

   Jan 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 16, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
East Hooghly Agro Plantation Pvt Ltd  ST Bk Fac          CARE A4        2.5     Assigned
Gawar Construction Ltd                ST Bk Fac          CARE A1+       1500    Revised from
                                                                                CARE A1
Hardik Construction Company           ST BkFac           CARE A4        60      Assigned

Jajoo Exim Pvt Ltd                    ST Bk Fac          CARE A4        80      Reaffirmed
Jajoo Rashmi Refractories Pvt Ltd     ST Bk Fac          CARE A4        30      Reaffirmed
Kurinji Spinning Mills Pvt Ltd        ST Bk Fac          CARE A4        19.5    -
ISSUER NOT COOPERATING
L&T Finance Ltd. (Erstwhile Family    CP (IPO Financing) CARE A1+       90000   Assigned
Credit Ltd)
L&T Infrastructure Finance Co. Ltd    CP (for IPO        CARE A1+       50000   Assigned
                                      financing)
Levram Lifesciences Pvt Ltd           ST Bk Fac          CARE A4        50      Assigned
Metrro Waste Handling Pvt Ltd         ST Bk Fac          CARE A3        150     Assigned
Pansari Steels Pvt Ltd                ST Bk Fac          CARE A4        60      -
ISSUER NOT COOPERATING
Pcm Cement Concrete Pvt Ltd           ST Bk Fac          CARE A4+       100     Revised from
                                                                                CARE A4
Simero International Llp              ST Bk Fac          CARE A3        10      Assigned
Vadodara Gas Ltd                      ST Bk Fac          CARE A2+       250     Assigned
Vaneeta Impex Pvt Ltd                 ST Bk Fac          CARE A4        60      Assigned
Vijendra Pratap Singh                 ST Bk Fac          CARE A4        50      Assigned


LONG TERM RATINGS:
-------------------
Arun Polymers                         LT Bk Fac          CARE B+        90      -
ISSUER NOT COOPERATING
Arya Motors                           LT Bk Fac          CARE BB        140     Assigned
East Hooghly Agro Plantation Pvt Ltd  LT Bk Fac          CARE B+        112.7   Assigned
Gammon India Ltd                      LT FB Fac – CC     CARE D         9490.5  -
ISSUER NOT COOPERATING
Gammon India Ltd                      Long/ ST Non-FB    CARE D         90927.8 -
                                      Fac – CC
ISSUER NOT COOPERATING
Gammon India Ltd                      NCDs               CARE D         3240    -
ISSUER NOT COOPERATING
Gawar Construction Ltd                LT Bk Fac          CARE A+        500     Revised from
                                                                                CARE A
Gawar Construction Ltd                Long/ST Bk         CARE A+/A1+    12000   Revised from
                                                                                CARE A
Hardik Construction Company           LT BkFac           CARE B+        40      Assigned
Ireo Grace Realtech Pvt Ltd           LT BkFac           CARE BBB-      4975    Reaffirmed
Jajoo Exim Pvt Ltd                    LT Bk Fac          CARE BB-       5       Reaffirmed
Jajoo Rashmi Refractories Pvt Ltd     LT /ST Bk Fac      CARE BB-       80      Reaffirmed
Kirti Agrotech Ltd                    LT Bk Fac          CARE BBB-      219.2   Revised
                                                                                from
CARE BB+
(reduced from 23.75 Crore)
Kirti Agrovet Ltd                     LT Bk Fac          CARE BBB-      456     Revised from
                                                                                CARE BB+
(reduced from 49.45 Crore)
Kirti Dal Mills Ltd                   LT Bk Fac          CARE BBB-      900     Revised from
                                                                                CARE BB+
Kirti Gold Ltd                        LT Bk Fac          CARE BBB-      419.1   Revised
                                                                                from
CARE BB+
(reduced from 49.38 Crore)
Kurinji Spinning Mills Pvt Ltd        LT Bk Fac          CARE BB-       225.5   -
ISSUER NOT COOPERATING
Lekhya Motors Pvt Ltd                 LT BkFac           CARE B+        125     -
ISSUER NOT COOPERATING
Mahabubnagar Solar Parks Pvt Ltd      LT Bk Fac          -              -       Withdrawn
Metropolitan Infra Housing Pvt Ltd    NCDs               CARE D         1750    -
ISSUER NOT COOPERATING
Metrro Waste Handling Pvt Ltd         LT Bk Fac          CARE BBB-      100     Assigned
Pansari Steels Pvt Ltd                LT BkFac           CARE B         20      -
ISSUER NOT COOPERATING
Patna Highway Projects Ltd            LT Bk Fac          CARE D         8460    -
ISSUER NOT COOPERATING
Pcm Cement Concrete Pvt Ltd           LT Bk Fac          CARE BB+       1022    Revised from
                                                                                CARE BB
(reduced from 127.77 Crore)
Polepally Solar Parks Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Pravara Renewable Energy Ltd          LT Bk Fac          CARE D         1860.8  -
ISSUER NOT COOPERATING
Pravin Foods Pvt Ltd                  LT Bk Fac          -              -       Withdrawn
Rajahmundry Godavari Bridge Ltd       LT Bk Fac (TL)     CARE D         5660    -
ISSUER NOT COOPERATING
Reliance Corporate It Park Ltd        LT/ST Bk Fac       CARE AAA/A1+   10000   Assigned
Religare Finvest Ltd                  LT Debt/NCDs       CARE BBB       369.3   Revised from
                                                                                CARE A
(reduced form 332.05 Crore)
Simero International Llp              LT Bk Fac          CARE BBB-      710     Assigned
Simero International Llp              LT/ ST BkFac       CARE BBB-/A3   41      Assigned
Snn Homes Llp                         LT Bk Fac          -              -       Withdrawn
Snn Properties Llp                    LT Bk Fac          -              -       Withdrawn
Sri Anjaneya Agrotech Pvt Ltd         LT Bk Fac          CARE D         348
ISSUER NOT COOPERATING
Sri Selvanaayaki Textile              LT Bk Fac          CARE BB-       170     -
ISSUER NOT COOPERATING
Vadodara Gas Ltd                      LT Bk Fac          CARE A-        3645.9  Assigned
Vaneeta Impex Pvt Ltd                 LT Bk Fac          CARE BB        100     Assigned
Vijendra Pratap Singh                 LT Bk Fac          CARE BB-       45      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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