July 10, 2018 / 7:06 AM / in 4 months

CARE ratings for Indian debt instruments-Jul 10

    Jul 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 9, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Birendra Prasad Singh                 ST Bk Fac          CARE A4        100     Reaffirmed
Bnk Energy Alternatives               ST Bk Fac          CARE A4        30      Assigned
Devi Iron & Power Pvt Ltd             ST Bk Fac          CARE A3+       175     Assigned
(Issuer not cooperating)
Dmw Cnc Solutions India Pvt Ltd       ST Bk Fac          CARE A4        21      Reaffirmed
M/S Rajkishor Singh                   ST Bk Fac          CARE A4        20      -
(Issuer not cooperating)
New Horizon Knits Pvt Ltd             ST Bk Fac          CARE A4        16      Reaffirmed
Orient Abrasives Ltd                  ST Bk Fac          CARE A1        150     -
(Placed on credit watch with negative implications)
Sagar Manufacturers Pvt Ltd           ST Bk Fac          CARE A2        30.4    Rating
                                                                                Revised from
                                                                                CARE A3+
Vishnu Saran And Company              ST Bk Fac          CARE A4        80      Revised from
                                                                                CARE A4+
(Issuer not cooperating)


MEDIUM TERM RATINGS:
-------------------
Pc Jeweller Ltd                       Medium Term        CARE A (FD)    2000    Revised from
                                      InstrumentFixed                           CARE A+ (FD)
                                      Deposit Programme



LONG TERM RATINGS:
-------------------
A V Overseas                          LT Bk Fac          CARE B+        75      Assigned
Aadhar Housing Finance Ltd            NCDs*              CARE AA+       30000   Assigned
*The ratings are based on credit enhancement in the form of a  Letter of Comfort  issued by
Dewan Housing Finance Corporation Ltd. (DHFL), rated CARE AAA‟ (Triple A); Stable, in favour of
AHFL s lenders.
Aakavi Spinning Mills Pvt Ltd         LT Bk Fac          CARE BB        61.1    -
Agrawal Channel Mills Pvt Ltd         LT Bk Fac          CARE BBB       285.5   Assigned
Birendra Prasad Singh                 LT Bk Fac          CARE BB-       5       Reaffirmed
Bnk Energy Alternatives               LT Bk Fac          CARE B+        20      Assigned
Cheeka Rice Mill                      LT Bk Fac          CARE B         80      Revised from
                                                                                CARE B+
(Issuer not cooperating)
Devi Iron & Power Pvt Ltd             LT Bk Fac          CARE BBB       355     Assigned
Dmw Cnc Solutions India Pvt Ltd       LT Bk Fac          CARE BB        725.2   Reaffirmed
Espire Infolabs Pvt Ltd               LT Bk Fac          CARE BB+       166.4   Assigned
Espire Infolabs Pvt Ltd               Long/ST Bk Fac     CARE BB+/A4+   33.6    Assigned
Hindustan Coils Ltd                   LT Bk Fac          CARE BBB       565     Assigned
Ikf Finance Ltd                       Proposed NCD issue CARE A-        350     Assigned
Kochas Power Pvt Ltd                  LT Bk Fac          CARE BB-       200     Assigned
M/S Rajkishor Singh                   LT Bk Fac          CARE B         10      Revised from
                                                                                CARE BB-
(Issuer not cooperating)
Mahalaxmi Roller Flour Mills          LT Bk Fac          CARE B         58.4    Revised from
                                                                                CARE B+
(Issuer not cooperating)
Maxwell Auto Components Pvt Ltd       LT Bk Fac          CARE B         152.2   Revised from
                                                                                CARE B+
(Issuer not cooperating)
Metcon India Realty & Infrastructure  LT Bk Fac          CARE BB        70      Revised from
Pvt Ltd                                                                         CARE BB
(Issuer not cooperating)
Metcon India Realty & Infrastructure  LT/ST Bk Fac       CARE BB/A4     390     Revised from
Pvt Ltd                                                                         CARE BB/A4
(Issuer not cooperating)
Mevada Oil Mill Pvt Ltd               LT Bk Fac          CARE D         146     Revised from
                                                                                CARE BB-
(Issuer not cooperating)
Nahar Homes Llp                       LT Bk Fac          CARE BB+       800     Revised from
                                                                                CARE BBB
(Issuer not cooperating)
New Horizon Knits Pvt Ltd             LT Bk Fac          CARE B         64      Revised from
                                                                                CARE B+
Nikki Steels Pvt Ltd                  LT Bk Fac          CARE B-        120     Revised from
                                                                                CARE B
(Issuer not cooperating)
Orient Abrasives Ltd                  LT Bk Fac          CARE A         1310    -
(Placed on credit watch with negative implications)
Paradip East Quay Coal Terminal Pvt   LT Bk Fac – TL     CARE A-        9408.8^ -
LTD
Continues on credit watch with developing implications / ^based on the credit enhancement in the
form of unconditional and irrevocable corporate guarantee to be provided by JSW Infrastructure
Limited up to expiry of moratorium period or expiry of performance guarantee whichever is later.
Paradip East Quay Coal Terminal Pvt   LT Bk Fac –        CARE A-        706.4^  -
LTD                                   Performance
                                      Guarantee
Continues on credit watch with developing implications / ^based on the credit enhancement in the
form of unconditional and irrevocable corporate guarantee to be provided by JSW Infrastructure
Limited up to expiry of moratorium period or expiry of performance guarantee whichever is later.
JSW Infrastructure Limited up to expiry of moratorium period or expiry of performance guarantee
whichever is later.
Richu Mal Bishan Sarup                LT Bk Fac          CARE B         50      Revised from
                                                                                CARE B+
(Issuer not cooperating)
Sagar Manufacturers Pvt Ltd           LT Bk Fac          CARE BBB+      2890.3  Rating
                                                                                revised from
                                                                                CARE BBB
Samridhi Realty Homes Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Sri Laxmi Traders                     LT Bk Fac          CARE B         70      Revised from
                                                                                CARE BB-
(Issuer not cooperating)
Surya Manufacturing Pvt Ltd           LT Bk Fac          CARE BB        240     Revised from
                                                                                CARE BBB-
Vishnu Saran And Company              LT Bk Fac          CARE BB        50      Revised from
                                                                                CARE BB+
(Issuer not cooperating)
Xrbia Developers Ltd                  LT Bk Fac          CARE BB+       1900    Revised from
                                                                                CARE BBB
(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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