January 23, 2018 / 4:14 AM / a month ago

CARE ratings for Indian debt instruments-Jan 23

    Jan 23 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 22, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Acme Magadh Solar Power Pvt Ltd       ST BkFac           CARE A3+       100     Assigned
Acme Nalanda Solar Power Pvt Ltd      ST BkFac           CARE A3+       150     Assigned
Ahuja Impex Pvt Ltd                   ST Bk Fac          CARE A4        100     Assigned
Balaji Mobitech Pvt Ltd               ST Bk Fac          CARE D         100     Revised from
                                                                                CARE A4
B.P. Alloys Ltd                       ST BkFac           CARE A4        70      -

(ISSUER NOT COOPERATING)
Bhagawati Development Services Pvt LtdST Bk Fac          CARE A4        52.5    Reaffirmed
Bhopal Switchgears Pvt Ltd            ST Bk Fac          CARE A4        42.5    Assigned
Bihani Agro Foods Pvt Ltd             ST BkFac           CARE A4        0.3     -
(ISSUER NOT COOPERATING)
Dharti Cotspin Pvt Ltd                ST Bk Fac          CARE A4+       15      Revised from
                                                                                CARE A4
Elektrolites (Power) Pvt Ltd          ST Bk Fac          CARE A3        205     Reaffirmed
Excel Associates Pvt Ltd              ST Bk Fac          CARE A3        85      Reaffirmed
Golden Chem Tech Ltd                  ST Bk Fac          CARE A4        47.5    Reaffirmed
(Credit watch with Developing Implications)
Golden Seams Industries Pvt Ltd       ST BkFac           CARE A4        120     -
Hansraj Memorial Educational Society  ST Bk Fac          CARE A4        130     Reaffirmed
Jai Bharat Gum And Chemicals Ltd      ST Bk Fac          CARE A2+       610     -
(ISSUER NOT COOPERATING)
K.K. Sorathia                         ST Bk Fac          CARE A4        100     -
(ISSUER NOT COOPERATING)
K.P.G. Enterprise                     ST Bk Fac          CARE A4+       490.8   -
(ISSUER NOT COOPERATING)
Kanchan Oil Industries Ltd            ST Bk Fac          CARE A4+       50      Assigned
Miltech Industries Pvt Ltd            ST Bk Fac          CARE A4        65      Reaffirmed
Nirosha Power Pvt Ltd                 ST Bk Fac          CARE A3+       300     Assigned
Pims Medical And Education Charitable ST BkFac           CARE A4        50      -
Society
(ISSUER NOT COOPERATING)
Sahara Hospitality Ltd                ST Bk Fac - Non    CARE D         200     -
                                      Fund Based
(ISSUER NOT COOPERATING)
Satluj Spintex Ltd                    ST Bk Fac          CARE A3        12.5    Reaffirmed
Tuticorin Coal Terminal Pvt Ltd       ST Bk Fac          CARE D         470     -
(ISSUER NOT COOPERATING)
West Quay Multiport Pvt Ltd           ST Bk Fac (Non     CARE D         250     -
                                      Fund Based)
(ISSUER NOT COOPERATING)

LONG TERM RATINGS:
-------------------
Abro Chimique Pvt Ltd                 LT Bk Fac          CARE B+        91.1    Reaffirmed
Acme Magadh Solar Power Pvt Ltd       LT BkFac           CARE BBB       559.4   Assigned
Acme Nalanda Solar Power Pvt Ltd      LT Bk Fac          CARE BBB       841.5   Assigned
Ahuja Impex Pvt Ltd                   LT Bk Fac          CARE BB        50      Assigned
Alba Asia Pvt Ltd                     LT Bk Fac –TL      CARE C         200     -
(ISSUER NOT COOPERATING)
Avirat Cotton Industries Pvt Ltd      Long- term Bk Fac  CARE B+        175.2   Reaffirmed
outlook revised fromStable to Positive
B.P. Alloys Ltd                       LT BkFac           CARE B+        71.6    -
(ISSUER NOT COOPERATING)
Balaji Mobitech Pvt Ltd               LT Bk Fac          CARE D         100     Revised from
                                                                                CARE BB-
Bhagawati Development Services Pvt LtdLT Bk Fac          CARE B+        30      Reaffirmed
Bhopal Switchgears Pvt Ltd            LT Bk Fac          CARE B+        95.8    Assigned
Bihani Agro Foods Pvt Ltd             LT BkFac           CARE B+        96.5    -
(ISSUER NOT COOPERATING)
Dhanalakshmi Textrade India Pvt Ltd   LT Fac             -              -       -
Dharti Cotspin Pvt Ltd                LT Bk Fac          CARE BB        369.1   Revised from
                                                                                CARE BB-
Elektrolites (Power) Pvt Ltd          LT Bk Fac          CARE BBB-      4.6     Reaffirmed
Elektrolites (Power) Pvt Ltd          LT/STBk Fac        CARE BBB-      80      Reaffirmed
                                                         /CARE A3
Excel Associates Pvt Ltd              LT Bk Fac          CARE BBB-      27      Reaffirmed
Golden Chem Tech Ltd                  LT Bk Fac          CARE BB        300     Reaffirmed
(Credit watch with Developing Implications)
Golden Seams Industries Pvt Ltd       LT Bk Fac          CARE BB+       629.1   -
(ISSUER NOT COOPERATING)
Hansraj Memorial Educational Society  LT Bk Fac          CARE B         199     Reaffirmed
Jai Bharat Gum And Chemicals Ltd      LT Bk Fac          CARE BBB+      10      -
(ISSUER NOT COOPERATING)
Jajoo Exports                         LT/ ST Bk Fac      CARE BB-/A4    96      Reaffirmed
Jyothy Fabricare Services Ltd         NCDs               -              -       Withdrawn
K.K. Sorathia                         LT Bk Fac          CARE BB        10      -
(ISSUER NOT COOPERATING)
K.P.G. Enterprise                     LT Bk Fac          CARE BB-       60      -
(ISSUER NOT COOPERATING)
Kalanikethan Fashions Pvt Ltd         LT Bk Fac          CARE BBB       565.8   Reaffirmed
Kanchan Oil Industries Ltd            LT Bk Fac          CARE BB+       100     Assigned
Miltech Industries Pvt Ltd            LT Bk Fac          CARE B+        130     Reaffirmed
Minerva Poultry Pvt. Ltd.             LT Bk Fac          CARE B+        37.1    Revised from
                                                                                CARE B
Nidhi Textiles                        Long -term BkFac   CARE B+        115     Assigned
Nirosha Power Pvt Ltd                 LT Bk Fac          CARE BBB       1780    Assigned
Noor Impex Pvt Ltd                    LT/STBk Fac        CARE BB-/A4    180     -
(ISSUER NOT COOPERATING)
Payal Dealers Pvt Ltd                 LT Bk Fac          CARE BB-       139.2   Reaffirmed
Principle Security And Allied ServicesLong -term Bk Fac  CARE BBB-      60.4    Assigned
Pvt Ltd
Pudhuaaru Financial Services Pvt Ltd  LT Bk Fac          CARE BBB-      851.3   Reaffirmed
Pudhuaaru Financial Services Pvt Ltd  LT/ST BkFac        CARE BBB-/A3   1148.7  Reaffirmed
Rail.One Usa Corp                     LT BkFac*          CARE BB+(SO)   893.8   Revised from
                                                                                CARE BB
Rajrajeshwar Cotex Pvt Ltd            LT Bk Fac          CARE B+        65      Revised from
                                                                                CARE B
Recmet Alloys Pvt Ltd                 LT BkFac           CARE B+        99.5    -
(ISSUER NOT COOPERATING)
Ruksh Enterprises                     LT Bk Fac          CARE B+        60.7    Assigned
S. M. Teledirect Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Sahara Hospitality Ltd                LT Bk Fac - CC     CARE D         206.7   -
(ISSUER NOT COOPERATING)
Sahara Hospitality Ltd                LT Bk Fac TL       CARE D         4860.7  -
(ISSUER NOT COOPERATING)
Satluj Spintex Ltd                    LT Bk Fac          CARE BBB-      2309.6  Reaffirmed
Shree Nandhi Silks Pvt Ltd            LT Bk Fac          CARE BBB       400     Assigned
Smt. Malti Devi Memorial Trust        LT Bk Fac          CARE B+        45.5    Assigned
Spring Field Shelters Pvt Ltd         LT Bk Fac          CARE D         368.5   Revised from
                                                                                CARE BB
Tuticorin Coal Terminal Pvt Ltd       LT Bk Fac (Fund    CARE D         2810    -
                                      based)
(ISSUER NOT COOPERATING)
West Quay Multiport Pvt Ltd           LT Bk Fac (Fund    CARE D         1165    -
                                      based)
(ISSUER NOT COOPERATING)
--------------------------------------------------------------------------------------------
$: 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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