January 18, 2018 / 5:51 AM / 3 months ago

CARE ratings for Indian debt instruments-Jan 18

    Jan 18 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 17, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agnice Fire Protection Pvt Ltd        ST Bk Fac          CARE A4+       250     Reaffirmed
(Enhanced from 20 Crore)
Arkkays National Engineering And      ST Bk Fac          CARE A3        290     Reaffirmed
Foundry Company

(reduced from 41 Crore)
Avni Yarns Pvt Ltd                    ST Bk Fac          CARE A4        3.5     Reaffirmed
Dhanvridhi Commercial Pvt Ltd         ST Bk Fac          CARE A4        48.7    Reaffirmed
Eco Cements Ltd                       ST Bk Fac          CARE A4        50      -
Issuer not cooperating
Hi-Trac Manpower Services Pvt Ltd     ST Bk Fac          CARE A4        10      Assigned
Krofta Papers Pvt Ltd                 ST Bk Fac          CARE A4        50      Assigned
Kvn Impex Pvt. Ltd.                   ST Bk Fac          CARE A4+       2210    Assigned
Kvtek Power Systems Pvt Ltd           ST Bk Fac          CARE A4        43      Assigned
L&T Housing Finance Ltd               CP (for IPO        CARE A1+       10000   Assigned
                                      financing)
Madanjeet Singh Walia And Brothers    Short -term Bk Fac CARE A4        70      Assigned
Raj West Power Ltd                    ST Bk Fac          CARE A1+       2270
Revised from CARE A1
Raj West Power Ltd                    Proposed CP        CARE A1+       1000
Revised from CARE A1
S.V.Sivalinga Nadar & Sons            ST Bk Fac          CARE A4+       300     Reaffirmed
(enhanced from 16.55 Crore)
Sree Gouriputra Agro Products Pvt Ltd ST Bk Fac          CARE A4        80      Reaffirmed
Tehri Pulp & Paper Ltd                ST Bk Fac          CARE A4        189.5
Revised from CARE D
Trisha Engineers                      ST Bk Fac          CARE A4        52.5    Assigned

LONG TERM RATINGS:
-------------------
Adani Power Ltd.                      LT Bk Fac @        -              -       Withdrawn
@ backed by unconditional and irrevocable corporate guarantee of Adani Properties Pvt. Ltd.
(APPL)
Agnice Fire Protection Pvt Ltd        LT Bk Fac          CARE BB+       30      Reaffirmed
(Reduced from 5 Crore)
Arkkays National Engineering And      LT Bk Fac          CARE BBB-      419.5   Reaffirmed
Foundry Company
(enhanced from 26.44 Crore)
Aruna Finance Ltd                     LT Bk Fac          CARE BB+       230
Revised from CARE BB-
Avni Yarns Pvt Ltd                    LT Bk Fac          CARE BB        64.6    Reaffirmed
Brijlal Hospital & Research Centre PvtLT Bk Fac          CARE BB        149.8
Ltd
Issuer not cooperating
Castings India Pvt Ltd                LT Bk Fac          CARE B+        80      Assigned
Chintamani Finlease Ltd               Proposed NCDs      CARE B+        50      Assigned
Dhanvridhi Commercial Pvt Ltd         LT Bk Fac (Fund    CARE B-        45      Reaffirmed
                                      Based)
Dhanvridhi Commercial Pvt Ltd         LT/ST Bk Fac       CARE B-/A4     16.3    Reaffirmed
Dhanvridhi Commercial Pvt Ltd         LT Bk Fac (Term    CARE D         35
                                      Debt)
Revised from CARE B-
Eco Cements Ltd                       LT Bk Fac          CARE BB        291.5   -
Issuer not cooperating
Ecoplus Steels Pvt Ltd                LT Bk Fac          CARE BB        589.1   -
Issuer not cooperating
Gwet Cold Chain Pvt Ltd               LT Bk Fac          CARE B         359.8   -
Issuer Not Cooperating
Hariom Agri International Pvt Ltd     LT Bk Fac          CARE B+        46.5    Reaffirmed
Hi-Trac Manpower Services Pvt Ltd     LT Bk Fac          CARE BB-       220     Assigned
Ispat India                           LT Bk Fac          CARE BB-       150     -
Issuer not cooperating; Based on best available information
Kapco Electric Pvt Ltd                LT Bk Fac          CARE B+        50.9
Revised from CARE B+ ISSUER NOT COOPERATING
Kapco Electric Pvt Ltd                LT/ST Bk Fac       CARE B+        70
Revised from CARE B+ ISSUER NOT COOPERATING
Kohima Mariani Transmission Ltd       LT Bk Fac          CARE A-        9946.7  Assigned
Krofta Papers Pvt Ltd                 LT Bk Fac          CARE B+        145     Reaffirmed
Kvn Impex Pvt. Ltd.                   LT Bk Fac          CARE BB+       100     Assigned
Kvtek Power Systems Pvt Ltd           LT Bk Fac          CARE B+        77.1    Assigned
Kvtek Power Systems Pvt Ltd           LT Bk Fac/ST Bk    CARE B+/CARE   70      Assigned
                                      Fac                A4
Leap India Pvt Ltd                    LT Bk Fac          CARE BBB-      1000    Reaffirmed
Madanjeet Singh Walia And Brothers    LT Bk Fac          CARE BB-       25      Assigned
Msv Laboratories Pvt. Ltd.            LT Bk Fac          CARE D         212.5
Revised from CARE B
Prabal Motors Pvt Ltd                 LT Bk Fac          CARE BB        150     Assigned
Raj West Power Ltd                    LT Bk Fac          CARE A+        33677.8
Revised from CARE A
Rajkamal Electric Press               LT Bk Fac          CARE BB        69.1    -
Issuer Not Cooperating
Rama Udyog Pvt Ltd                    LT Bk Fac          CARE BBB-      250     Reaffirmed
(enhanced from 15.00 Crore)
Rayat Educational & Research Trust    LT Bk Fac (FB)     CARE B         200
Revised from CARE C
Republic Auto Sales                   LT Bk Fac          CARE B+        112.5   -
Issuer Not Cooperating
S.N.Milk Products Pvt Ltd             LT Bk Fac          CARE BB        450     -
Issuer not cooperating
S.V.Sivalinga Nadar & Sons            LT Bk Fac          CARE BB+       9.5     Reaffirmed
Shanu Silk Mills India Pvt Ltd        LT Bk Fac          CARE BB-       111     Assigned
Spine Arthroscopic And Joint          LT Bk Fac          CARE BB+       127.2   Reaffirmed
Replacement Center Pvt Ltd
(reduced from 13.56 Crore)
Sree Gouriputra Agro Products Pvt Ltd LT Bk Fac TL#      -              -       Withdrawn
#the rating assigned to long term bank facility (term Loan) has been withdrawn since the company
has fully repaid the said facility and there is not outstanding under the facility.
Sree Gouriputra Agro Products Pvt Ltd LT Bk Fac          CARE B+        60      Reaffirmed
Swastik Aahar Mills Pvt Ltd           LT Bk Fac          CARE B+        55      -
Issuer Not Cooperating; Based on best available information
Tehri Pulp & Paper Ltd                LT Bk Fac          CARE BB-       479.7
Revised from CARE D
Tele Express                          LT Bk Fac          CARE BB-       50      Assigned
Tele Express                          LT/ST Bk Fac       CARE BB-/A4    100     Assigned
Trisha Engineers                      LT Bk Fac          CARE BB        20      Assigned
Velankani Information Systems Ltd     LT Bk Fac          CARE BBB       4500    Assigned
Venkateshwara Power Project Ltd       LT Bk Fac          CARE BB        1033.9  Reaffirmed
(reduced from 196.22 Crore)
Viney Gems & Jewellery Ltd            LT Bk Fac          CARE B-        100     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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