July 22, 2013 / 6:03 AM / 5 years ago

CARE ratings for Indian debt instruments-Jul 22

Jul 22 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 19, 2013.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Allcargo Logistics Ltd                proposed           CARE A1+       500     Withdrawn
                                      standalone CP (CP)
                                      issue
Dolbi'S Granite Exports Pvt Ltd       ST Bk Fac          CARE A4        50      Assigned

Hng Float Glass Ltd                   ST Bk Fac          CARE A3+       550     Reaffirmed
Jalaram Ginning Factory               ST Bk Fac          CARE A4        8.5     Reaffirmed
Kadevi Industries Ltd                 ST Bk Fac          CARE A4        1004.8  Revised from
                                                                                CARE D
Multilink                             ST Bk Fac          CARE A4        40      Assigned

LONG TERM RATINGS:
-------------------
Abg Shipyard Ltd                      Bk Fac, NCDs and   CARE BB /             Suspended
                                      CP                 CARE A4
Corum Hospitality                     LT Bk Fac          CARE BB        67.8    Assigned
Dolbi'S Granite Exports Pvt Ltd       LT Bk Fac          CARE B-        76.1    Assigned
Eskay Resorts (India) Pvt Ltd         LT Bk Fac          CARE B+        120     Assigned
Essel Walajahpet Poonamallee Toll RoadLT Bk Fac (TL)@    CARE BBB (SO)  10200   Assigned
Pvt Ltd
(@ backed by the unconditional and irrevocable corporate guarantee of Essel Infraprojects
Limited (EIL, rated CARE BBB/ CARE A3+ (Reaffirmed in March 2013).
Gemini Equipment And Rentals Pvt Ltd  issuer rating      CARE BB+ (Is)          Notice of
                                                                                Withdrawal
Haldia Bulk Terminals Pvt Ltd         LT Bk Fac          CARE D         922.2   Revised from
                                                                                CARE BB(SO)
Haldia Bulk Terminals Pvt Ltd         LT/ ST Bk Fac      CARE D         220     Revised from
                                                                                CARE A4(SO)
Hng Float Glass Ltd                   LT Bk Fac          CARE BBB+      4678    Revised from
                                                                                CARE BBB
Hng Float Glass Ltd                   LT/ ST Bk Fac      CARE BBB+      350     Rating
                                                                                revised from
                                                                                CARE BBB 
                                                                                /CARE A3
Irb Infrastructure Developers Ltd     LT-Proposed        CARE A         1000    Assigned
                                      Secured NCD
Jalaram Ginning Factory               LT/ ST Bk Fac      CARE B+/CARE A490      Reaffirmed
(enhanced from 7.00)
K. S. Cot Fiber Pvt Ltd               LT Bk Fac          CARE B         18.3    Assigned
K. S. Cot Fiber Pvt Ltd               LT/ST Bk Fac       CARE B/CARE A4 70      Assigned
K.S. Cotex (India) Pvt Ltd            LT Bk Fac          CARE B         17.9    Assigned
K.S. Cotex (India) Pvt Ltd            LT/ST Bk Fac       CARE B/CARE A4 67.4    Assigned
Kadevi Industries Ltd                 LT Bk Fac          CARE C         1206.9  Revised from
                                                                                CARE D
Mentor India Ltd.                     Bk Fac             -                      Suspended
Mfl Direct Assignment Aug'10 - I      Assignee Payouts   CARE AAA(SO)           Withdrawn
Mfl Direct Assignment Aug'10 - I      Second Loss        CARE BBB(SO)           Withdrawn
                                      Facility
Multilink                             LT Bk Fac          CARE BB-       90      Assigned
Radhe Govind Kripa Developers Pvt Ltd LT Bk Fac          CARE BB-       595     Assigned
Shantha Projects Ltd                  LT Bk Fac          CARE B+        427     Reaffirmed
(Enhanced from 32.50 Cr)
Shree Krishna Stone Quarry            LT Bk Fac          CARE BB-       72      Assigned
Sundaram Multi Pap Ltd                Bk Fac             CARE BB+/              Suspended
                                                         CARE A4
United Metachem Industries            LT/ST Bk Fac       CARE B +/      80      Assigned
                                                         CARE A4
Vaibhav Laxmi Industries              LT/ST Bk Fac       CARE B/CARE A4 180     Assigned
White Pearls Hotels & Investments Pvt LT Bk Fac          CARE B         150     Assigned
Ltd
Wind World (India) Ltd                Bk Fac             CARE BB+/              Suspended
                                                         CARE A4+
--------------------------------------------------------------------------------------------
$: 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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