January 30, 2018 / 7:40 AM / 3 months ago

CARE ratings for Indian debt instruments-Jan 30

    Jan 30 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 29, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Angel`S Aluminium Corporation         ST Bk Fac          CARE A4        1       Reaffirmed
Bagaria Aluminium Alloys Pvt Ltd      ST Bk Fac          CARE A4        30      Assigned
Bhate And Raje Construction Company PvST Bk Fac          -              -       Withdrawn
Ltd
Dolphin International Pvt Ltd         ST Bk Fac          CARE A4        120     Assigned
Ennore Tank Terminals Pvt Ltd         ST Bk Fac          CARE A1+       500     Reaffirmed

Eros Minerock Products Llp            ST Bk Fac          CARE A4        17      -
ISSUER NOT COOPERATING
Fashion Impex                         ST Bk Fac          CARE A4        25      Assigned
Forace Polymers Pvt Ltd               ST Bk Fac          CARE A3+       440     Revised from
                                                                                CARE A3
Indera Ethnics And Designs Pvt Ltd    ST Bk Fac          CARE A4        5       Assigned
Indiabulls Properties Pvt Ltd         CP Issue           CARE A1+       3000    Reaffirmed
Indiabulls Real Estate Company Pvt LtdCP Issue           CARE A1+       2000    Reaffirmed
Indiabulls Real Estate Ltd            CP Issue           CARE A1+       10000   Reaffirmed
Indiabulls Real Estate Ltd            ST Bk Facility -   -              -       withdrawn
                                      NFB-BG
Isinox Ltd                            ST Bk Fac –        -              -       Withdrawn
                                      Non-Fund based
Isinox Ltd                            ST Bk Fac – Fund   -              -       Withdrawn
                                      based
Kkr India Financial Services Pvt Ltd  CP                 CARE A1+       3000    Assigned
M G Threads                           ST Bk Fac          CARE A4        7       Reaffirmed
M. H. Khanusiya                       ST Bk Fac          CARE A4        200     -
Issuer not cooperating; Based on best available information
Nash Fashion (India) Ltd              ST Bk Fac          CARE A4        90      Assigned
Sarmangal Synthetics Pvt Ltd          ST Bk Fac          CARE A4        9.8     Reaffirmed
Shiva Texyarn Ltd                     ST Bk Fac          CARE A3+       350     Reaffirmed
Removed from credit watch
Shri Ramdev Cotspin                   ST Bk Fac          CARE A4        1.5     Reaffirmed
Silver Sign Pvt Ltd                   ST Bk Fac          CARE A4        120     Assigned
Sunmark Ceramic                       ST Bk Fac          CARE A4+       10      Assigned
Sylvanus Properties Ltd               CP Issue           CARE A1+       500     Reaffirmed
Lucina Land Development Ltd           ST - NonFB - LC /  -              -       Withdrawn
                                      BG / LOU
Truba Advance Science Kombine         ST Bk Fac          CARE A4        75      Reaffirmed
Worldwide Metals Pvt Ltd              ST Bk Fac          -              -       Withdrawn



LONG TERM RATINGS:
-------------------
Anchor Agritech                       LT Bk Fac          CARE B         54.5    Revised from
                                                                                CARE B+
Angel`S Aluminium Corporation         LT Bk Fac          CARE BB-       120     Reaffirmed
Antony Road Transport Solutions Pvt LtLT Bk Fac          CARE B+        414.3   Revised from
                                                                                CARE D
Aster Infrahome Pvt Ltd               LT Instruments-    CARE BB        500     Reaffirmed
                                      Nonconvertible
                                      debentures
Bagaria Aluminium Alloys Pvt Ltd      LT Bk Fac          CARE BB-       70      Assigned
Bhate And Raje Construction Company PvLT Bk Fac          -              -       Withdrawn
Ltd
Darshita Happy Homes Pvt Ltd          NCD issue          CARE BB+       880     -
Placed on credit watch with developing implications
Eden Slf Residency                    LT/ ST Bk Fac      -              -       Withdrawn
Engineered Power Resources India Pvt  LT Bk Fac          -              -       withdrawn
Ennore Tank Terminals Pvt Ltd         LT Bk Fac          CARE AA        2094.3  Reaffirmed
Eros Minerock Products Llp            LT Bk Fac          CARE B+        72.8    -
ISSUER NOT COOPERATING
Eros Minerock Products Llp            LT Bk Fac/ ST Bk   CARE B+ /CARE  70      -
                                      Fac                A4
ISSUER NOT COOPERATING
Fashion Impex                         LT Bk Fac          CARE B         45.1    Assigned
Fashion Impex                         LT/ST Bk Fac       CARE B / A4    115     Assigned
Fatte Guru Govind Singh And Company   LT Bk Fac          CARE B+        60      Assigned
Forace Polymers Pvt Ltd               LT Bk Fac          CARE BBB       511.9   Revised from
                                                                                CARE BBB-
Garve Motors Pvt Ltd                  LT Bk Fac          CARE BB-       190     Revised from
                                                                                CARE B+
Hanuman Ginning & Pressing Factory    LT Bk Fac          CARE B         70      -
Issuer not cooperating; Based on best available information
Haragouri Himghar Pvt Ltd             LT Bk Facility     CARE B         82.2    Reaffirmed
Indera Ethnics And Designs Pvt Ltd    LT Bk Fac          CARE B         50      Assigned
Indiabulls Estate Ltd                 LT Bk FacNon-FBL   CARE AA-       170     Reaffirmed
Indiabulls Infraestate Ltd            NCD Issue          CARE AA-       10000   Reaffirmed
Indiabulls Properties Pvt Ltd         FB-LT-LRD          CARE AA-       23424.9 Reaffirmed
Indiabulls Properties Pvt Ltd         NCD Issue          CARE AA-       2000    Reaffirmed
Indiabulls Properties Pvt Ltd         NFB-ST-LC/BG       CARE AA- / A1+ 300     Reaffirmed
Indiabulls Real Estate Company Pvt LtdLT FacTL           -              -       Withdrawn
Indiabulls Real Estate Company Pvt LtdLT Bk Fac          CARE AA-       14067.3 Reaffirmed
Indiabulls Real Estate Ltd            NCD issue          -              -       withdrawn
Indiabulls Real Estate Ltd            NCD issue          -              -       withdrawn
Indiabulls Real Estate Ltd            NCD issue          -              -       withdrawn
Indiabulls Real Estate Ltd            NCD issue          -              -       withdrawn
Indiabulls Real Estate Ltd            NCD issue          CARE AA        2250    Reaffirmed
Indiabulls Real Estate Ltd            LT Bk Fac          CARE AA-       5087.3  Reaffirmed
Indiabulls Real Estate Ltd            NCD issue          CARE AA-       15850   Reaffirmed
Indiabulls Real Estate Ltd            Proposed           CARE AA-       750     Reaffirmed
                                      NonConvertible
                                      Debenture issue
Isinox Ltd                            LT -Bk Fac – Fund  -              -       Withdrawn
                                      based
Jain Hydraulics Pvt Ltd               LT Bk Fac          CARE D         100     Revised from
                                                                                CARE BB-
ISSUER NOT COOPERATING
Lilamani Infra                        LT Bk Fac          -              -       Withdrawn
Lucina Land Development Ltd           Non-FB - STBG / LC -              -       Withdrawn
Lucina Land Development Ltd           LT Bk Fac – TL     CARE AA-       5000    Reaffirmed
Lucina Land Development Ltd           LT Bk Fac – TL     Provisional^   2000    Assigned
                                                         CARE AA-  
^Proposed to be backed by unconditional and irrevocable corporate guarantee from Indiabulls Real
Estate Limited
M G Threads                           LT Bk Fac          CARE B+        170     Reaffirmed
M. H. Khanusiya                       LT Bk Fac          CARE BB        112.6   -
Issuer not cooperating; Based on best available information
Mahavir Global Coal Ltd               LT Bk Fac          CARE BB-       60      Assigned
Milan Cottex                          LT Bk Fac          CARE BB-       86.7    -
Issuer not cooperating; Based on best available Information
Namdev Finvest Pvt. Ltd.              LT Bk Fac          CARE BB        250     Reaffirmed
Nash Fashion (India) Ltd              LT Bk Fac          CARE B         169.4   Assigned
Nash Fashion (India) Ltd              LT/ST Bk Fac       CARE B / A4    155     Assigned
Nikhil Tobaccos                       LT Bk Fac          CARE B+        230     Assigned
Panchanan Cold Storage Pvt Ltd        LT Bk Fac          CARE B         47.4    Reaffirmed
Paramount Blankets Pvt Ltd            LT Bk Fac          CARE D         210     Revised from
                                                                                CARE C
ISSUER NOT COOPERATING
Paramount Blankets Pvt Ltd            LT/ ST Bk Fac      CARE D         10      Revised from
                                                                                CARE C / A4
ISSUER NOT COOPERATING
Paramount Rice Pvt Ltd                LT Bk Fac          CARE BB        239.4   Revised from
                                                                                CARE BB-
Premvati Rice Mill                    LT Bk Fac          CARE B+        1.1     Assigned
Premvati Rice Mill                    LT/ST Bk Fac       CARE B+ /CARE  60      Assigned
                                                         A4
Sapna Steels                          LT Bk Fac          CARE BB-       98.5    Assigned
Sarmangal Synthetics Pvt Ltd          LT Bk Fac          CARE BB        140     Reaffirmed
Satyam Roller Flour Mills Pvt Ltd     LT Bk Fac          CARE BB-       100     Reaffirmed
Selene Estate Ltd                     LT Bk FacTL        CARE AA-       562.5   Reaffirmed
Selene Estate Ltd                     LT Bk FacBG        CARE AA-       80      Reaffirmed
Shiv Valley Highways Pvt Ltd          LT Bk Fac – Fund   CARE A         6960    Assigned
                                      based
Shiv Valley Highways Pvt Ltd          LT Bk Fac – Non    CARE A         740     Assigned
                                      Fund based
Shiva Texyarn Ltd                     LT Bk Fac          CARE BBB       1293.8  Reaffirmed
Removed from credit watch
Shiva Texyarn Ltd                     Long/ ST Bk Fac    CARE BBB /CARE 550     Reaffirmed
                                                         A3+
Removed from credit watch
Shree Ramkrishna Oil Industries       Long- term Bk Fac  CARE B+        95      Reaffirmed
Shri Ramdev Cotspin                   LT Bk Fac          CARE BB-       145     Reaffirmed
Signature Automobiles India Pvt Ltd   LT Bk Fac-TL #     -              -       Withdrawal
# 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
Signature Automobiles India Pvt Ltd   LT Bk Fac          CARE B+        104.7   Reaffirmed
Silver Sign Pvt Ltd                   LT / ST Bk Fac     CARE B /CARE A480      Assigned
Somnath Enterprises                   LT Bk Fac          CARE BB-       93.5    Revised from
                                                                                CARE B+
Sri Rama Ginning Industries           LT Bk Fac          CARE B+        80      Assigned
Srinivasa Cotton Industries           LT Bk Fac          CARE B+        64      -
Issuer not cooperating
Sunmark Ceramic                       LT Bk Fac          CARE BB        57.2    Assigned
Super Max Affordable Housing Pvt Ltd  LT Bk Fac          CARE B         250     Assigned
(Smpl)
Sylvanus Properties Ltd               LT Bk Fac – TL     CARE AA-       1000    Reaffirmed
Sylvanus Properties Ltd               NCD Issue          CARE AA-       1000    Reaffirmed
Tirumala Cotton                       LT Bk Fac          CARE B+        65      -
Issuer not cooperating
Truba Advance Science Kombine         LT Bk Fac          CARE B         33.4    Reaffirmed
Vasani Cold Chains Pvt Ltd            LT Bk Fac          CARE B+        65.3    Assigned
Vasudev Power Pvt Ltd                 LT Bk Fac          CARE BB+       15      Assigned
Vasudev Power Pvt Ltd                 LT/ST Bk Fac       CARE BB+ / A4+ 125     Assigned
Venkateshwara Power Project Ltd       LT Bk Fac          CARE BB        2033.9  Reaffirmed
Vhv Beverages Pvt Ltd (Vhv)           LT Bk Fac          CARE BB+       160     Assigned
Worldwide Metals Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Yash Weavers Ltd                      LT Bk Fac          CARE A-        311.2   Assigned
Yash Weavers Ltd                      LT/ST Bk Fac       CARE A- /CARE  25.5    Assigned
                                                         A2+

--------------------------------------------------------------------------------------------
$: 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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