January 3, 2018 / 8:57 AM / in a year

CARE ratings for Indian debt instruments-Jan 3

   Jan 3 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 2, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agroh Rewa Ring Road Pvt Ltd          ST Bk Fac          CARE A3+ (SO)  9       Reaffirmed
Agroking Pesticides Pvt Ltd           ST Bk Fac          CARE A4        15      -
ISSUER NOT COOPERATING
Akshar Chem India Ltd                 ST Bk Fac          CARE A1+       60      Reaffirmed

Ampsolar Solution Pvt Ltd             ST Bk Fac – LOC    CARE A1+(SO)   250     Assigned
Ampsolar Solution Pvt Ltd             ST Bk Fac – LOC    CARE A1+(SO)   840     Assigned
Ampsolar Solution Pvt Ltd             ST Bk Fac –        CARE A1+(SO)   10      Assigned
                                      Overdraft
Ampsolar Solution Pvt Ltd             ST Bk Fac –        Provisional    40      Provisional
                                      Forward Contract   CARE A1+(SO)
Bhaskar Steel & Ferro Alloy Pvt Ltd   ST Bk Fac          CARE A3 (SO)   100     Reaffirmed
Big Bags Bangalore Pvt Ltd            ST Bk Fac          CARE A4+       165     Reaffirmed
Bluepark Seafoods Pvt Ltd             ST Bk Fac          CARE A4+       100     Assigned
Chandra Electronic Appliances Pvt Ltd ST Bk Fac          CARE A4        4       Reaffirmed
Cmk Projects Pvt Ltd                  ST Bk Fac          CARE A4+       100     Reaffirmed
Conffi Sanitaryware Pvt Ltd           ST Bk Fac          CARE A4+       10.8    Revised from
                                                                                CARE A4
Das Processors                        ST Bk Fac          CARE A4        70      Reaffirmed
Embio Ltd                             ST Non Fund        CARE A2+       15.3    Reaffirmed
                                      BasedBk Fac
Embio Ltd                             ST Non Fund        CARE A2+       92      Reaffirmed
                                      BasedBk Fac*
*Sub-limit of long-term fund-based facilities
Fullerton India Credit Co. Ltd        CP                 CARE A1+       10000   Reaffirmed
G Ramamoorthi Constructions India Pvt ST Bk Fac          CARE A4        40      Reaffirmed
Ltd
Gaurav Aircon Computers Pvt Ltd       ST Bk Fac          CARE A4        2       Reaffirmed
Gemscab Industries Ltd                ST Bk Fac          CARE A3        825     Reaffirmed
Jsw Dharamtar Port Pvt Ltd.           ST Bk Fac (Non     CARE A1+       50      Upgraded from
                                      Fund Based – LC/BG)                       CARE A1
Jsw Infrastructure Ltd.               ST Bk Fac          CARE A1+       800     Upgraded from
                                                                                CARE A1
Jsw Jaigarh Port Ltd.                 ST Bk Fac – NFB    CARE A1+       650     Upgraded from
                                      (LC/BG)                                   CARE A1
Kufri Fun Campus Pvt Ltd              ST Bk Fac          CARE A4        30      Assigned
Madhya Bharat Power Corporation Ltd   ST Non-Fund Based  CARE A4        100     Revised from
                                      Bk Fac                                    CARE A4 to
                                                                                CARE D and
                                                                                again to 
                                                                                CARE A4
Maharaja Paper Industries Pvt Ltd     ST Bk Fac          CARE A4        30      Reaffirmed
Medikon India                         ST Bk Fac          -              -       Withdrawn
Micro Therapeutic Research Labs Pvt Ltd ST Bk Fac        CARE A4        1.5     Revised from
                                                                                CARE D
Mother Dairy Fruit & Vegetable Pvt LtdST Bk Fac          CARE A1+       200     Reaffirmed
Mother Dairy Fruit & Vegetable Pvt LtdCP                 CARE A1+       6000    Reaffirmed
*carved out of the sanctioned working capital limits of the company
Neeraj Paper Marketing Ltd            ST Bk Fac          CARE A4+       200     -
ISSUER NOT COOPERATING
Qrg Central Hospital And Research     ST Bk Fac          CARE A2+       100     Reaffirmed
Centre Ltd
Refracast Metallurgical Pvt Ltd       ST Bk Fac          CARE A4        20      Reaffirmed
Reliance Infrastructure Ltd           ST Bk Fac          CARE A2+       15000   Revised from
                                                                                CARE A2+
Renew Power Ventures Pvt Ltd          ST Bk Fac          CARE A1+       4000    Reaffirmed
Sona Wires Pvt Ltd                    ST Bk Fac          CARE A4        2.7     Reaffirmed
South West Port Ltd.                  ST Bk Fac          CARE A1+       1550    Reaffirmed
                                      (Non-fund Based)
Srmb Srijan Pvt Ltd                   ST Bk Fac          CARE A3        890     Reaffirmed
(reduced from 108.00 )
Surya Wires Pvt Ltd                   ST Bk Fac          CARE A4        186     Reaffirmed
Tata Housing Development Co. Ltd      CP Issue           CARE A1+       10000   Reaffirmed
Tata Value Homes Ltd                  CP Issue           CARE A1+       2000    Reaffirmed
Udipta Energy And Equipment Pvt Ltd   ST Bk Fac          CARE A4        130     Assigned
Virdev Intermediates Pvt Ltd          ST Bk Fac          CARE A4+       40      Revised from
                                                                                CARE A4

LONG TERM RATINGS:
-------------------
Abhishek Propbuild Pvt Ltd            LT BkFac           CARE BBB-(SO)] 1425.6  Reaffirmed
Agroh Rewa Ring Road Pvt Ltd          LT Bk Fac          CARE BBB (SO)  526     Reaffirmed
Agroh Rewa Ring Road Pvt Ltd          Longterm/ST Bk Fac CARE BBB (SO)  33.3    Reaffirmed
Agroking Pesticides Pvt Ltd           LT Bk Fac          CARE BB-       62.5    -
ISSUER NOT COOPERATING
Akshar Chem India Ltd                 LT Bk Fac          -              0       Withdrawn
Akshar Chem India Ltd                 Long- Term/STBk FacCARE A+        420     Reaffirmed
Apex Realty Pvt Ltd                   Long-TL            CARE AA (SO)   500     Reaffirmed
Ardent Properties Pvt Ltd             Long-TL            CARE AA        2000    Reaffirmed
Bharat Power Inc                      LT Bk Fac          -              -       Withdrawn
Bhaskar Steel & Ferro Alloy Pvt Ltd   LT Bk Fac          CARE BBB-(SO)  684.8   Reaffirmed
Big Bags Bangalore Pvt Ltd            LT Bk Fac          CARE BB+       48.7    Reaffirmed
Bluepark Seafoods Pvt Ltd             LT Bk Fac          CARE BB+       850     Assigned
Camden Industries Ltd                 NCDs (NCD)         -              -       Withdrawn
Chandra Electronic Appliances Pvt Ltd LT Bk Fac          CARE BB        126.9   Reaffirmed
Cmk Projects Pvt Ltd                  LT Bk Fac          CARE BB+       200     Revised from
                                                                                CARE BB
Columbus Overseas Llp                 LT Bk Fac          CARE BB        140.6   Assigned
Conffi Sanitaryware Pvt Ltd           LT Bk Fac          CARE BB+       177.5   Reaffirmed
Das Processors                        LT Bk Fac          CARE BB-       20      Reaffirmed
Dharti Cotton Pvt Ltd                 LT Bk Fac          CARE B+        120     Reaffirmed
Durga Automotives Pvt Ltd             LT Bk Fac          CARE B         140     Assigned
Dushmanta Giri                        LT Bk Fac          CARE BB        65      -
ISSUER NOT COOPERATING
Embio Ltd                             LT Bk Fac          CARE A-        415.6   Reaffirmed
Fullerton India Credit Co. Ltd        NCDs               CARE AAA       30000   Reaffirmed
Fullerton India Credit Co. Ltd        Subordinated Debt  CARE AAA       4500    Reaffirmed
Fullerton India Credit Co. Ltd        LT Bk Fac          CARE AAA       10000   Reaffirmed
G Ramamoorthi Constructions India Pvt LT Bk Fac          CARE BB        50      Reaffirmed
Ltd
Gaurav Aircon Computers Pvt Ltd       LT Bk Fac          CARE BB        71      Reaffirmed
Gehlot Enterprise                     LT Bk Fac          CARE B+        90      Assigned
Gemscab Industries Ltd                LT Bk Fac          CARE BBB       871.2   Reaffirmed
Gvk Emri (Up)                         LT BkFac           CARE BBB       100     Reaffirmed
Gvk Emri (Up)                         Long/ST BkFac      CARE BBB       280     Reaffirmed
Gvk Janani Shishu Suraksha Up         LT BkFac           CARE BBB-      147     Revised from
                                                                                CARE BBB
Gvk Janani Shishu Suraksha Up         Long/ST BkFac      CARE BBB-/CARE 290     Revised from
                                                         A3                     CARE BBB
H L Promoters Pvt Ltd                 LT Bk Fac          CARE AA-       500     Reaffirmed
H. S. Agro                            LT Bk Fac TL       -              0       Withdrawn
H. S. Agro                            Non-FB - LT-BGs    -              0       Withdrawn
Hari Bhoomi Communications Pvt Ltd    LT Bk Fac          CARE BBB       127.4   Reaffirmed
Il&Fs Infra Asset Management Ltd      IL&FS Mutual Fund  CARE AAA       0       Assigned
                                      Infrastructure     (MF-IDF)
                                      Debt Fund - Series 3-A
Jsw Dharamtar Port Pvt Ltd.           Long term Bk Fac   CARE A+        750     Upgraded from
                                      – Subordinated debt                       CARE A
Jsw Dharamtar Port Pvt Ltd.           Long term Bk Fac   CARE AA-       3300    Upgraded from
                                      – TL                                      CARE A+
Jsw Dharamtar Port Pvt Ltd.           LT Bk Fac (Non     CARE AA-       300     Upgraded from
                                      Fund Based – BG)                          CARE A+
Jsw Infrastructure Ltd.               LT Bk Fac          CARE AA-       850     Upgraded from
                                                                                CARE A+
Jsw Infrastructure Ltd.               LT NCD             CARE AA-       1960    Upgraded from
                                                                                CARE A+
Jsw Jaigarh Port Ltd.                 Long term Bk Fac   CARE AA-       16360   Upgraded from
                                      – TL                                      CARE A+
Jsw Paradip Terminal Pvt Ltd.         LT Bk Fac(TL)      CARE AA- (SO)  4400.@  Upgraded from
                                                                                Provisional
                                                                                CARE A+ (SO)
@ backed by unconditional and irrevocable corporate guarantee 
 by JSW Infrastructure Limited (JSWIL)
Jsw Paradip Terminal Pvt Ltd.         LT Bk Fac (BG)     CARE AA- (SO)  4400.@  Upgraded from
                                                                                Provisional
                                                                                CARE A+ (SO)
@ backed by unconditional and irrevocable corporate guarantee
 by JSW Infrastructure Limited (JSWIL)
Kolkata-One Excelton Pvt Ltd          LT Bk Fac          CARE AA-       900     Reaffirmed
Kriday Realty Pvt Ltd                 LT Bk Fac          CARE AA        900     Reaffirmed
Kufri Fun Campus Pvt Ltd              LT Bk Fac          CARE B+        98.9    Assigned
Kunal Lohachem Pvt Ltd                LT Bk Fac          CARE B         60      Reaffirmed
Madhya Bharat Power Corporation Ltd   LT Fund Based Bk   CARE BB        7718.8  Revised from
                                      Fac-TL                                    CARE BB+ to
                                                                                CARE D and 
                                                                                subsequently
                                                                                revised to 
                                                                                CARE BB
Madhya Bharat Power Corporation Ltd   Long/ST Bk Fac     CARE BBB-(SO)  800     Reaffirmed
Maharaja Paper Industries Pvt Ltd     LT Bk Fac          CARE B         140.6   Reaffirmed
Manisha Textiles Pvt Ltd              LT Bk Fac          CARE BB-       54.1    Assigned
Medikon India                         LT Bk Fac          -              -       Withdrawn
Micro Therapeutic Research Labs Pvt Ltd LT Bk Fac        CARE B         146.2   Revised from
                                                                                CARE D
Mother Dairy Fruit & Vegetable Pvt LtdLT Bk Fac          CARE AAA       13725   Reaffirmed
Myntra Jabong India Pvt Ltd           LT/ST Bk Fac       CARE BBB-(SO)  3000    Assigned
Neeraj Paper Marketing Ltd            LT Bk Fac          CARE BB+       600     -
ISSUER NOT COOPERATING
Oceanic Buildcon Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Paul & Company                        LT Bk Fac          CARE BB-       119.9   -
ISSUER NOT COOPERATING
Piccadily Hotels Pvt Ltd              LT Bk Fac          -              -       Withdrawn*
*CARE has withdrawn the rating assigned to the previous bank facilities of 
 Piccadily hotels Private Limited (PHPL) with immediate effect, as the company
 has repaid the aforementioned bank facilities in full by availing a new term 
 loan and there is no amount outstanding under the loan as on date. 
Piccadily Hotels Pvt Ltd              LT Bk Fac          CARE BB        3300    Assigned
Plasser India Pvt Ltd                 LT/ST BkFac        CARE AA-       500     Reaffirmed
Princeton Infrastructure Pvt Ltd      LT Bk Fac          CARE AA-       900     Reaffirmed
Promont Hillside Pvt Ltd              NCDs               CARE AA (SO)   4000    Reaffirmed
Promont Hilltop Pvt Ltd               LT Bk Fac          CARE AA        1250    Reaffirmed
Promptec Renewable Energy Solutions Pvt LT Bk Fac        CARE A-        200     Reaffirmed
Ltd
Promptec Renewable Energy Solutions Pvt ST Bk Fac        CARE A-        150     Reaffirmed
Ltd
Qrg Central Hospital And Research     LT Bk Fac          CARE A-        30      Reaffirmed
Centre Ltd
Refracast Metallurgical Pvt Ltd       LT Bk Fac          CARE BB        70      Reaffirmed
Reliable Spaces Pvt Ltd               LT Bk Fac          CARE BB+       1700    Assigned
Reliance Infrastructure Ltd           LT Bk Fac          CARE A-        37000   Revised from
                                                                                CARE A-
Reliance Infrastructure Ltd           LT NCD -1          CARE A-        8000    Revised from
                                                                                CARE A+
Reliance Infrastructure Ltd           LT NCD-2           CARE A-        12000   Revised from
                                                                                CARE A+
Reliance Infrastructure Ltd           LT NCD-3           CARE A-        3650    Revised from
                                                                                CARE A+
Renew Clean Energy Pvt Ltd            LT Bk Fac          CARE A+ (SO)   1500    Assigned
Renew Power Ventures Pvt Ltd          LT/ST BkFac        CARE A+        16300   Reaffirmed
Sai Maatarini Tollways Ltd            LT Bk Fac          CARE D         13973.5 Revised from
                                                                                CARE BB+
Sector 113 Gatevida Developers Pvt LtdLT Bk Fac          CARE AA-       2000    Reaffirmed
Shivalik Engineering Industries Pvt Ltd LT Bk Fac@       CARE BBB- (SO) 480.6   -
ISSUER NOT COOPERATING 
@ Backed by unconditional and irrevocable corporate 
guarantee of Shivalik Power & Steel Private Limited
Shivalik Engineering Industries Pvt Ltd LT Bk Fac#       Provisional    44.1    -
                                                         CARE BBB- (SO)
ISSUER NOT COOPERATING 
# Rating is Provisional as the corporate guarantee deed is yet to be executed.
Shivalik Power & Steel Pvt Ltd        LT Bk Fac          CARE BBB-      158.9   -
ISSUER NOT COOPERATING
Slk Software Services Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Smart Value Homes (Boisar) Pvt Ltd    LT Bk Fac          CARE AA        500     Reaffirmed
Smart Value Homes (Peenya) Pvt Ltd    LT Bk Fac          CARE AA        2000    Reaffirmed
Sona Wires Pvt Ltd                    LT Bk Fac          CARE B+        35.9    Reaffirmed
Srmb Srijan Pvt Ltd                   LT Bk Fac          CARE BBB-      2655    Reaffirmed
Sterling Addlife India Pvt Ltd        LT Bk Fac          CARE BBB+      993.5   Reaffirmed
Sterling Addlife India Pvt Ltd        Long/ST BkFac      CARE BBB+      250     Reaffirmed
Surya Wires Pvt Ltd                   LT Bk Fac          CARE B+        100     Reaffirmed
Surya Wires Pvt Ltd                   LT/ ST Bk Fac      CARE B+        40      Reaffirmed
Tamilnadu Waste Management Ltd        LT Bk Fac          CARE BBB+(SO)  223.6   Revised from
                                                                                CARE BBB
Tata Housing Development Co. Ltd      LT Bk Fac          CARE AA        9500    Reaffirmed
Tata Value Homes Ltd                  LT Bk Fac          CARE AA        3500    Reaffirmed
Tata Value Homes Ltd                  NCDs               CARE AA        4000    Reaffirmed
Trichy Tollway Pvt Ltd                LT Bk Fac          CARE AA-       2631.7  Removed from
                                                                                Credit Watch,
                                                                                Rating 
                                                                                Reaffirmed
Udipta Energy And Equipment Pvt Ltd   LT Bk Fac          CARE BB        100     Assigned
Vasundhara Diamond Roof Pvt Ltd       LT Bk Fac          CARE BBB       150     Reaffirmed
Virdev Intermediates Pvt Ltd          LT Bk Fac          CARE BB        88      Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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