July 27, 2018 / 7:24 AM / 4 months ago

CARE ratings for Indian debt instruments-Jul 27

    Jul 27 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 26, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A.M. Distributors                     ST Bk Fac          CARE A4        3.5     Assigned
A.V. Valves Ltd                       ST Bk Fac          CARE A4        30      Revised from
                                                                                CARE A4
ISSUER NOT COOPERATING

Baba Saw Mill                         ST Bk Fac          CARE A4        38.3    Reaffirmed
Empire Industries Ltd                 ST Bk Fac          CARE A1        250     Reaffirmed
Gna Axles Ltd                         ST Bk Fac          CARE A1        155     Reaffirmed
Goyal Industries                      ST Bk Fac          CARE A4        5       Assigned
Hi Tech Engineers And Consultants Pvt ST BkFac           CARE A4+       400     Revised from
Ltd                                                                             CARE A3
ISSUER NOT COOPERATING
Kamla Construction Company            ST Bk Fac          CARE A4        45      Revised from
                                                                                CARE A4+
ISSUER NOT COOPERATING
Kumar Civil Infra Consortium India PvtST Fac             CARE A4        50      Reaffirmed
Ltd
Maple Leaf Intelligent Solutions Pvt  ST BkFac           CARE A4        60      Assigned
Ltd
Maithan International                 ST Bk Fac          -              -       Withdrawn
Nakkheeran Publications               ST Bk Fac          CARE A4        7.5     Assigned
Polyspin Exports Ltd                  ST Bk Fac          CARE A4+       480     Reaffirmed
(reduced from 48.00 Crore)
Rmc Switchgears Ltd                   ST Bk Fac          CARE A4+       300     Revised from
                                                                                CARE A4
(Enhanced from 15.00 Crore),removed from issuer not cooperating
Shree Ganesh Khand Udyog Sahakri MandlST Bk Fac          CARE A4 (A     260     Assigned
Ltd                                                      Four)

MEDIUM TERM RATINGS:
-------------------

Empire Industries Ltd                 Fixed Deposit      CARE A (FD)    743     Reaffirmed
                                      programme

LONG TERM RATINGS:
-------------------
A.M. Distributors                     LT Bk Fac          CARE BB-       51.4    Assigned
A.V. Valves Ltd                       LT Bk Fac          CARE B         0.5     Revised from
                                                                                CARE B
(reduced from 0.59 Crore) ,ISSUER NOT COOPERATING
A.V. Valves Ltd                       LT/ ST Bk Fac      CARE B/A4      48      Revised from
                                                                                CARE B
ISSUER NOT COOPERATING
Baba Saw Mill                         LT Bk Fac          CARE B         30      Reaffirmed
(Reduced from 3.11 Crore)
Balaji Weft Pvt Ltd                   LT BkFac           CARE A-(SO)    418     Reaffirmed
Outlook revised from Stable to Negative
Balaji Weft Pvt Ltd                   LT / Shortterm Bk  CARE           50      Reaffirmed
                                      Fac                A-(SO)/A2+(SO)
Outlook revised from Stable to Negative
Bmw Industries Ltd                    LT Bk Fac          -              -       Withdrawn
Bmw Industries Ltd                    ST Bk Fac          -              -       Withdrawn
Canara Robeco Mutual Fund             Close-Ended        CARE AAA mfs   -       Withdrawn
                                      Capital Protection (SO)
                                      Oriented Fund – 
                                      Series 4*
* Rating assigned to the Canara Robeco Capital Protection Oriented Fund Series 4 has been
withdrawn with immediate effect, since the scheme has matured and there are no units outstanding
under the scheme.    
Canara Robeco Mutual Fund             Close-Ended        CARE AAA mfs   -       Reaffirmed
                                      Capital            (SO)
                                      Protection
                                      Oriented Fund
                                     – Series 5
Canara Robeco Mutual Fund             Close-Ended        CARE AAA mfs   -       Reaffirmed
                                      Capital            (SO)
                                      Protection
                                      Oriented Fund 
                                      – Series 6
Canara Robeco Mutual Fund             Close-Ended        CARE AAA mfs   -       Reaffirmed
                                      Capital            (SO)
                                      Protection
                                      Oriented Fund 
                                      – Series 7
Canara Robeco Mutual Fund             Close-Ended        CARE AAA mfs   -       Reaffirmed
                                      Capital            (SO)
                                      Protection
                                      Oriented Fund 
                                      – Series 8
Canara Robeco Mutual Fund             Close-Ended        CARE AAA mfs   -       Reaffirmed
                                      Capital            (SO)
                                      Protection
                                      Oriented Fund 
                                      – Series 9
Canara Robeco Mutual Fund             Close-Ended        CARE AAA mfs   -       Reaffirmed
                                      Capital            (SO)
                                      Protection
                                      Oriented Fund 
                                      – Series 10
Deepshikha Exim Pvt Ltd               LT BkFac #         CARE A-(SO)    237     Reaffirmed
Outlook revised from Stable to Negative
# Bank facilities are backed by the unconditional and irrevocable corporate guarantee of Jindal
Worldwide Limited    
Empire Industries Ltd                 LT Bk Fac          CARE A         467.2   Reaffirmed
Falcon Steels                         LT Bk Fac          CARE BB-       59.8    Assigned
Gna Axles Ltd                         LT Bk Fac          CARE A         1390.8  Reaffirmed
Goyal Cattle Feeds Industries         LT Bk Fac          CARE BB-       52.5    Assigned
Goyal Industries                      LT Bk Fac          CARE BB        161.8   Assigned
Hi Tech Engineers And Consultants Pvt LT BkFac           CARE BB+       10      Revised from
Ltd                                                                             CARE BBB-
ISSUER NOT COOPERATING
Jindal Denim (India) Pvt Ltd          LT BkFac #         CARE A-(SO)    340     Reaffirmed
Outlook revised from Stable to Negative
Kamla Construction Company            LT Bk Fac          CARE BB        20      Revised from
                                                                                CARE BB+
ISSUER NOT COOPERATING
Kumar Civil Infra Consortium India PvtLT Bk Fac          CARE B-        70      Reaffirmed
Ltd
(enhanced from 5 Crore)
Maple Leaf Intelligent Solutions Pvt  LT BkFac           CARE BB-       10      Assigned
Ltd
Nakkheeran Publications               LT Bk Fac          CARE B         129.5   Assigned
Niharika Threads Pvt Ltd              LT BkFac #         CARE A-(SO)    418     Reaffirmed
Outlook revised from Stable to Negative
Om Sugars Ltd                         LT Bk Fac          CARE D         282.7
ISSUER NOT COOPERATING
Polyspin Exports Ltd                  LT Bk Fac          CARE BB+       194.1   Reaffirmed
(reduced from 21.66 Crore)
Rattan Poultries Pvt Ltd              LT Bk Fac          CARE B         120     Assigned
Rmc Switchgears Ltd                   LT Bk Fac          CARE BB+       189     Revised from
                                                                                CARE BB
(Enhanced from 9.86 Crore),removed from issuer not cooperating
S.J. Textiles                         LT Bk Fac          CARE BB-       57.5    Assigned
Saroj Weavers Pvt Ltd                 LT BkFac #         CARE A-(SO)    249     Reaffirmed
Outlook revised from Stable to Negative
Shree Ganesh Khand Udyog Sahakri MandlLT Bk Fac          CARE B+        141.1   Reaffirmed
Ltd
(reduced from Rs.17.40 crore Crore)
Shree Ganesh Khand Udyog Sahakri MandlLT/ST Bk Fac       CARE B+/A4     100     Reaffirmed
Ltd                                                      (Single B
                                                         Plus/Outlook: /A Four)
Sintex Industries Ltd                 NCD                CARE BB+       5000    Revised from
                                                                                CARE BBB
ISSUER NOT COOPERATING
Sri Jyothi Cotton Ginners             LT BkFac - TL      CARE B         150     Revised from
                                                                                CARE B+
ISSUER NOT COOPERATING
Tarachand Impex Ltd                   LT BkFac #         CARE A-(SO)    313     Reaffirmed
Outlook revised from Stable to Negative
# Bank facilities are backed by the unconditional and irrevocable corporate guarantee of Jindal
Worldwide Limited.
Yash Weavers Ltd                      LT BkFac           CARE A-(SO)    311.2   Reaffirmed
Outlook revised from Stable to Negative
Yash Weavers Ltd                      LT / Shortterm Bk  CARE           25.5    Reaffirmed
                                      Fac                A-(SO)/A2+(SO)
Outlook revised from Stable to Negative
--------------------------------------------------------------------------------------------
$: 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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