July 2, 2018 / 6:39 AM / 17 days ago

CARE ratings for Indian debt instruments-Jul 2

    Jul 2 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 29, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A.B. Pal Electricals Pvt. Ltd.        ST Bk Fac          CARE A4        40      Assigned
Aqua Designs (India) Pvt Ltd          ST Bk Fac          CARE A4+       870     -
(ISSUER NOT COOPERATING)
Buildquick Infrastructure Pvt Ltd     ST Bk Fac          CARE A4        25      Assigned

Gupta Tex Prints Pvt Ltd              ST Bk Fac          CARE D         2.5     -
(ISSUER NOT COOPERATING)
Hasbro Clothing Pvt Ltd               ST Bk Fac          CARE A3+       100     Assigned
Igenius Life Science Llp              ST Bk Fac          -              -       Withdrawn
Liberty Shoes Ltd                     ST Bk Fac          CARE A2+       395     Reaffirmed
(enhanced from Rs.37.80 crore Crore)
Mahesh Developers Pvt Ltd             ST Bk Fac          -              -       Withdrawn
*Issuer did not cooperate; Based on best available information
Madhusudan Agrawal                    ST Bk Fac          CARE A4        60      Reaffirmed
(enhanced from 4.50 Crore)
Maksteel Wirehealds Pvt Ltd           ST Bk Fac          CARE A4        10.7    -
(ISSUER NOT COOPERATING)
Mechvac Fabricators India Pvt Ltd     ST Bk Fac          CARE A4+       103     -
(ISSUER NOT COOPERATING)
Rattanindia Finance Pvt Ltd           CP Issue           CARE A1+       3000    Reaffirmed
(enhanced from 100 Crore)
Rattanindia Finance Pvt Ltd           CP Issue           CARE A1+       3000    Reaffirmed
(enhanced from 100 Crore)
Rexon Strips Ltd                      ST Bk Fac          CARE A4        20      Revised from
                                                                                CARE A4
(ISSUER NOT COOPERATING)
Sadbhav Engineering Ltd               CP issue           -              -       Withdrawn
                                      (Standalone)^
(^Sadbhav Engineering Limited (SEL) had given an undertaking to keep its sanctioned fund-based
working capital limits unutilized to the extent of this standalone CP issue of Rs.50 crore. In
line with this undertaking, SEL has been confirming that the total utilisation of its fund-based
working capital limits (within consortium) and the outstanding amount of the above standalone CP
issue have not exceeded ‘the sanctioned fund-based working capital limits under consortium or
its drawing power, whichever is lower.)
Sigma Industrial Corporation          ST Bk Fac          CARE D         100     -
(ISSUER NOT COOPERATING); Based on no available information)
Sanghvi Forging & Engineering Ltd     ST Bk Fac          CARE D         10.5    -
(ISSUER NOT COOPERATING)
Sanathan Textiles Pvt Ltd             ST Bk Fac          CARE A3+       850     Reaffirmed
(Enhanced from Rs.20.00 crore Crore)
Shree Narshingha Cold Storage Pvt Ltd ST BkFac           CARE A4        1.5     Reaffirmed
Sreenagar Cold Storage Pvt Ltd        ST BkFac           CARE A4        2.4     Reaffirmed
Sreeven Constructions                 Short tern Bk Fac  CARE A4        36      Assigned
Sri Vari Infra                        Short tern Bk Fac  CARE A4        10      Assigned
Sundaram Bnp Paribas Home Finance Ltd ST Bk Fac          CARE A1+       350     Reaffirmed
(enhanced from 10.00 Crore)
Thenpandian Spinning Mills India Pvt  ST Bk Fac          CARE A4        60      -
Ltd
(ISSUER NOT COOPERATING)
Tvs Motor Co. Ltd                     CP (CP)            CARE A1+       4000    Reaffirmed
(enhanced from Rs.200 crore Crore)
Virat Alloys Pvt Ltd                  ST Bk Fac          CARE A4        10      Assigned
Win-Stone Industries (India) Pvt Ltd  ST Bk Fac          CARE D         6       -
(ISSUER NOT COOPERATING)
Welspun Corp Ltd                      CP (CP) Issue      CARE A1+       5000    Reaffirmed
(enhanced form Rs.200 crore Crore)

LONG TERM RATINGS:
-------------------
A.B. Pal Electricals Pvt. Ltd.        LT Bk Fac          CARE BB-       140     Assigned
Access Promoter                       LT BkFac           CARE BB        69.4    -
((ISSUER NOT COOPERATING); based on best available information)
Agrawal Warehousing & Logistics       LT Bk Fac          CARE B+        28      Assigned
Aqua Designs (India) Pvt Ltd          LT Bk Fac          CARE BB+       630     -
(ISSUER NOT COOPERATING)
Buildquick Infrastructure Pvt Ltd     LT Bk Fac          CARE B+        45      Assigned
Bulland Buildtech Pvt Ltd             LT Bk Fac          CARE D         450     Revised from
                                                                                CARE B+
(ISSUER NOT COOPERATING)
Flagship Developers Pvt Ltd           NCDs (ISIN no.     CARE BB        2600    Revised from
                                      INE150S08038)                             CARE BBB-
(ISSUER NOT COOPERATING)
Gatik Tea Company Pvt Ltd             LT Bk Fac          CARE B+        82.9    Reaffirmed
(reduced from 8.75 Crore)
Gufic Biosciences Ltd                 LT BkFac (fund     CARE BBB-      600     -
                                      based)
(enhanced from Rs.25.00 crore Crore),
(Continues on credit watch with developing implications)
Gufic Biosciences Ltd                 LT BkFac (TL)      CARE BBB-      70      Assigned
Gufic Biosciences Ltd                 LT/ST Bk Fac (fund CARE BBB-/A3   360     Assigned
                                      and non-FBL)
Gupta Tex Prints Pvt Ltd              LT Bk Fac          CARE D         97.6    -
(ISSUER NOT COOPERATING)
Gupta Tex Prints Pvt Ltd              LT/ST Bk Fac       CARE D/D       70      -
(ISSUER NOT COOPERATING)
Hasbro Clothing Pvt Ltd               LT Bk Fac          CARE BBB-      300     Assigned
Igenius Life Science Llp              LT Bk Fac          -              -       Withdrawn
Lakshmi Balaji Constructions          LT Bk Fac          CARE B+        120     Assigned
Liberty Shoes Ltd                     LT Bk Fac          CARE A-        1431.4  Reaffirmed
(reduced from Rs.144.84 crore Crore)
Machine Tools (India) Ltd             LT Bk Fac          CARE BB        50      -
(ISSUER NOT COOPERATING)
Madhusudan Agrawal                    LT Bk Fac          CARE BB-       50      Reaffirmed
(enhanced from 4.00 Crore)
Mahesh Developers Pvt Ltd             LT Bk Fac          -              -       Withdrawn
*Issuer did not cooperate; Based on best available information
Machine Tools (India) Ltd             LT/ST Bk Fac       CARE A4        85      -
(ISSUER NOT COOPERATING)
Maksteel Wirehealds Pvt Ltd           LT Bk Fac          CARE BB        47.9    -
(ISSUER NOT COOPERATING)
Maksteel Wirehealds Pvt Ltd           LT/ST Bk Fac       CARE BB/A4     50      -
(ISSUER NOT COOPERATING)
Mechvac Fabricators India Pvt Ltd     LT Bk Fac          CARE BB+       110.5   -
(ISSUER NOT COOPERATING)
Ncc Infraspace Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Ncc Infraspace Pvt Ltd                LT/ST Bk Fac       -              -       Withdrawn
Om Sai Hospitality                    LT Bk Fac          CARE D         55.5    -
(ISSUER NOT COOPERATING)
Prakash Stainless Pvt Ltd             LT Bk Fac          CARE B         150     -
(ISSUER NOT COOPERATING)
Raja Poultry Farm                     LT Bk Fac          CARE BB-       120     Assigned
Rajrani Cold Storage And Ice Plant PvtLT Bk Fac          CARE D         137.1   Revised from
Ltd                                                                             CARE BB-
(ISSUER NOT COOPERATING)
Rexon Strips Ltd                      LT Bk Fac          CARE B+        220     Revised from
                                                                                CARE B
(ISSUER NOT COOPERATING)
Samunnati Financial Intermediation &  LT Bk Fac          CARE BBB-      400     Assigned
Services Pvt Ltd
Sanathan Textiles Pvt Ltd             LT Bk Fac          CARE BBB       4971.3  Reaffirmed
(Enhanced from Rs.204.13 crore Crore)
Sanghvi Forging & Engineering Ltd     LT Bk Fac          CARE D         1234.9  -
(ISSUER NOT COOPERATING)
Sanghvi Forging & Engineering Ltd     LT/ST Bk Fac       CARE D         320     -
(ISSUER NOT COOPERATING)
Sathya Lifestyles Pvt Ltd             LT Bk Fac          CARE D         100     -
(ISSUER NOT COOPERATING)
Setco Automotive (Uk) Ltd.            LT Bk Fac – FBL    -              -       Withdrawn
Shree Balaji Agro Farm Industries Pvt LT Bk Fac          CARE BB-       86.9    Assigned
Ltd
Shree Narshingha Cold Storage Pvt Ltd LT BkFac           CARE B         82      Reaffirmed
(reduced from 8.85 Crore)
Sigma Industrial Corporation          LT Bk Fac          CARE D         100     -
(ISSUER NOT COOPERATING); Based on no available information)
Sreenagar Cold Storage Pvt Ltd        LT BkFac           CARE B         83.6    Reaffirmed
(reduced from 8.76 Crore)
Sreeven Constructions                 LT Bk Fac          CARE BB-       44      Assigned
Sri Vari Infra                        LT Bk Fac          CARE B         85      Assigned
Sri Vasave Kanyaka Parameshwari Rice  LT Bk Fac          CARE BB-       250     Revised from
Mills Pvt Ltd                                                                   CARE B+
(Outlook:Positive)
Srinivasa Rice Industry               LT Bk Fac          CARE B         68      -
(ISSUER NOT COOPERATING)
Sundaram Bnp Paribas Home Finance Ltd NCDs(Series VIII)  CARE AA+       670     Reaffirmed
(reduced from 102.00 Crore)
Sundaram Bnp Paribas Home Finance Ltd NCDs (Series IX)   CARE AA+       1300    Reaffirmed
(reduced from 130.00 Crore)
Sundaram Bnp Paribas Home Finance Ltd NCDs (Series X)    CARE AA+       1030    Reaffirmed
(reduced from 181.00 Crore)
Sundaram Bnp Paribas Home Finance Ltd NCDs (Series XI)   CARE AA+       1300    Reaffirmed
(reduced from 300.50 Crore)
Sundaram Bnp Paribas Home Finance Ltd NCDs(Series XII)   CARE AA+       1000    Reaffirmed
Sundaram Bnp Paribas Home Finance Ltd NCDs(Series XIII)  CARE AA+       2000    Reaffirmed
Sundaram Bnp Paribas Home Finance Ltd Subordinated Debt  CARE AA+       1000    Revised from
                                      (Series II)                               CARE AA
Sundaram Bnp Paribas Home Finance Ltd Subordinated Debt  CARE AA+       500     Revised from
                                      (Series III)                              CARE AA
Sundaram Bnp Paribas Home Finance Ltd LT Bk Fac          CARE AA+       500     Reaffirmed
(reduced from 75.00 Crore)
Thenpandian Spinning Mills India Pvt  LT Bk Fac          CARE B+        240     -
Ltd
(ISSUER NOT COOPERATING)
Tirupati International                LT Bk Fac          CARE BB+       49.9    -
(ISSUER NOT COOPERATING)
Virat Alloys Pvt Ltd                  LT Bk Fac          CARE BB-       109     Assigned
Virat Alloys Pvt Ltd                  LT /ST Bk Fac      CARE BB-/A4    87      Assigned
Win-Stone Industries (India) Pvt Ltd  LT Bk Fac          CARE D         142.6   -
(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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below