January 25, 2018 / 4:07 AM / 7 months ago

CARE ratings for Indian debt instruments-Jan 25

    Jan 25 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 24, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Akbar Travels Of India Pvt Ltd        ST Bk Fac          CARE A4        450
                                      (non-fund based)
Revised from CARE A3
Ankita Agro And Food Processing Pvt LtST Bk Fac          CARE A4        37.5    Assigned

Future Enterprises Ltd                ST Bk Fac (TL)     CARE A1+       500     Assigned
Future Enterprises Ltd                CP (Standalone)^   CARE A1+       1500    Reaffirmed
^ As per undertaking submitted by FEL the outstanding CP including working capital borrowings
will not exceed lower of the sanctioned working capital limits
Future Enterprises Ltd                CP*                CARE A1+       1500    Assigned
*Carved out of the sanctioned working capital limits of the company
Haldia Petrochemicals Ltd             ST Bk Fac          CARE A1+       28490   Reaffirmed
(reduced from 3,171.00 Crore)
Harak Chandra Flour Mills Ltd         ST Bk Fac          CARE A4+       10      Assigned
Jainco Buildcon Ltd                   ST Bk Fac          CARE A4        140     -
Issuer not cooperating; Revised from CARE A4+ on the basis of best available information
Jm Financial Properties And Holdings LCP                 CARE A1+       5000    Assigned
Mahadeo Construction Company          ST Bk Fac          CARE A4+       50      Reaffirmed
Mishrilal Associates Pvt Ltd          STFac              CARE A4        80      -
Issuer Not Cooperating; Based on best available information
Nutech Appliances                     ST Bk Fac          CARE A4        30
Revised from CARE A4; ISSUER NOT COOPERATING
Rishikesh Structural Solutions Llp    ST Bk Fac          CARE A4        10      Assigned
Sanghamitra Constructions             ST Bk Fac          CARE A4+       180     Assigned
Seyadu Beedi Company                  ST Bk Fac          CARE A2        80      Reaffirmed
Smarttrack Solar Systems Pvt Ltd      ST Bk Facility     CARE A4        20      Assigned
Sunder Impex Pvt Ltd                  ST Bk Fac          CARE A4        108.5   Reaffirmed

LONG TERM RATINGS:
-------------------
Akbar Online Booking Company Pvt Ltd  LT Bk Fac (fund    CARE BB        50
                                      based)
Revised from CARE BB+
Akbar Online Booking Company Pvt Ltd  LT Bk Fac (fund    CARE BB        100
                                      based)*
Revised from CARE BBB- (SO); * backed by unconditional and irrevocable corporate guarantee by
Akbar Travels of India Private Limited.
Akbar Travels Of India Pvt Ltd        LT Bk Fac (TL)     CARE BB        38.2
Revised from CARE BBB-
Akbar Travels Of India Pvt Ltd        LT Bk Fac (fund    CARE BB        1867.5
                                      based)
Revised from CARE BBB-
Ankita Agro And Food Processing Pvt LtLT Bk Fac          CARE B-        105.6   Assigned
Annai Flour Mills Pvt Ltd             LT Bk Fac          CARE BB        150     -
Issuer not cooperating
Athanas Enterprise Pvt. Ltd.          LT NCD issue       CARE BBB+      4350    Assigned
Eleanor Realty Holdings India Pvt. LtdNCDs               CARE B         1615    Assigned
Eleanor Realty Holdings India Pvt. LtdLT Bk Facility –   CARE BBB- #    1700    Assigned
                                      Lease Rental
                                      Discounting
#Also the rating is based on the credit enhancement in the form of structured payment mechanism
where all the rent receivables from present/future lessee would be collected in the escrow
account which would be used for debt servicing
Fathimuthu Amma Mills Ltd             LT Bk Fac          CARE BBB-      182.5   Reaffirmed
(reduced from 19.77 Crore)
Future Enterprises Ltd                LT Bk Fac (TL)     CARE AA-       15187.2 Reaffirmed
Future Enterprises Ltd                LT Bk Fac (Fund    CARE AA-       6250    Reaffirmed
                                      Based)
(enhanced from Rs.375.00 Crore)
Future Enterprises Ltd                ST Bk Fac (Non     CARE A1+       6020    Reaffirmed
                                      Fund based)
(enhanced from Rs.452.00 Crore)
Haldia Petrochemicals Ltd             LT Bk Fac          CARE AA-       39690.1
Revised from CARE A+; (reduced from Rs.4948.49 Crore)
Haldia Petrochemicals Ltd             Long/ST Bk Fac     CARE AA-/A1+   15010
Revised from CARE A+ /CARE A1+ ; (reduced from 1,800.00 Crore)
Harak Chandra Flour Mills Ltd         LT Bk Fac          CARE BB+       89.9    Reaffirmed
(Enhanced from 5.25 Crore)
Jainco Buildcon Ltd                   LT Bk Fac          CARE BB-       110     -
Issuer not cooperating; Revised from CARE BB; on the basis of best available information
Kaya Knits                            LT Bk Fac          CARE BB        39.6    Assigned
Kaya Knits                            LT/ST Bk Fac       CARE BB/A4     40      Assigned
Mahadeo Construction Company          LT Bk Fac          CARE BB+       125.8   Reaffirmed
(enhanced from 11.97 Crore)
Meritra Homes Pvt Ltd                 LT Bk Fac          CARE BB        150     -
Issuer not cooperating
Mishrilal Associates Pvt Ltd          LTFac              CARE B         20      -
Issuer Not Cooperating. Revised from CARE B+; on the basis of best available information
Modi Infrastructure Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Nutech Appliances                     LT Bk Fac          CARE B+        30
Revised from CARE B+; ISSUER NOT COOPERATING; (reduced from 3.77 Crore)
Principal Pnb Asset Management CompanyPrincipal ST       CARE AAAmfs    -       Reaffirmed
Pvt Ltd                               Income Fund -Open
                                      Ended Income Scheme
Rambhajo’S                            LT Bk Fac          CARE BB-       170     Reaffirmed
Raunaq Ice & Cold Storage             LT/ST Bk Fac       CARE BB-/A4+   110
Long term rating assigned and Short term rating reaffirmed
Rishikesh Structural Solutions Llp    LT Bk Fac          CARE BB-       67.1    Assigned
Royal Impex                           ST BkFac           -              -       Withdrawn
Royal Impex                           LT BkFac           CARE BB+       185
Reclassification of facility from shortterm to long-term
Sanghamitra Constructions             LT Bk Fac          CARE BB+       50      Assigned
Sarna Marbles Pvt Ltd                 LT Bk Fac          CARE BB-       250     Assigned
Seyad Cotton Mills Ltd                LT Bk Fac          CARE BBB-      181.6   Reaffirmed
(reduced from 19.06 Crore)
Seyadu Beedi Company                  LT Bk Fac          CARE BBB+      282.4   Reaffirmed
(reduced from 31.73 Crore)
Shivalik Vyapaar Pvt Ltd              LT Bk Fac          CARE C         90      Assigned
Shree Laxmi Jewellery Pvt Ltd         LT Bk Fac          CARE BB+       200
Removed from CARE BB+; ISSUER NOT COOPERATING and reaffirmed
Shree Mahaveerji Polyfab Pvt Ltd      LT Bk Fac          CARE BB-       110.2   Assigned
Shyamsunder Grain Products Pvt Ltd    LT Bk Fac          CARE B+        150     Assigned
Smarttrack Solar Systems Pvt Ltd      LT Bk Facility     CARE BB        90      Assigned
Sri Murari Pavan Agrotech             LT Bk Fac          CARE B+        150     Assigned
Starke Rocksand Llp                   LT Bk Fac          CARE B+        66.5    Reaffirmed
Sunder Impex Pvt Ltd                  LT Bk Fac          CARE B+        20      Reaffirmed
Svm Cera Pvt Ltd                      LT Bk Fac          CARE D         45      -
Issuer not co operating; Based on best available information
Svm Cera Pvt Ltd                      ST Bk Fac          CARE D         24      -
Issuer not co operating; Based on best available information
Urjankur Shree Datta Power Co. Ltd    LT Bk Fac          CARE A         495.2   Reaffirmed
Reaffirmed; Removed from Credit Watch; (reduced from 101.72 Crore)
Urjankur Shree Tatyasaheb Kore Warana LT Bk Fac          CARE A-        1508.8  Reaffirmed
Power Co. Ltd
(reduced from 173.14 Crore)
Vishal Projects Pvt Ltd               LT Bk Fac          CARE B+        200     Assigned
Vishwakarma Auto Parts Pvt Ltd        LT Bk Fac          CARE B+        120.9   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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