July 31, 2018 / 6:46 AM / 4 months ago

CARE ratings for Indian debt instruments-Jul 31

    Jul 31 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 30, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Christina Finance And Investments Ltd ST Bk Fac          CARE A4+       60      Assigned
Dimyra International                  ST Bk Fac          CARE A4        15      Assigned
Excel Generators Pvt Ltd              ST Bk Fac          CARE A4        25      Reaffirmed
Hinduja Housing Finance Ltd           CP                 CARE A1+       1500    Reaffirmed

Ma Mahamaya Rice Mill Pvt Ltd         ST Bk Facility     CARE A4        3.7     Assigned
S. D. Corporation Pvt Ltd             CP^                CARE A1+       9100    Reaffirmed
^Credit enhancement in the form of unconditional & irrevocable guarantee by Shapoorji Pallonji&
Company Private Limited (SPCPL, rated CARE AA+ Stable/ A1+)
S. D. Corporation Pvt Ltd             Proposed CP*       Provisional    500     Reaffirmed
                                                         CARE A1+
* Credit enhancement in the form of proposed unconditional & irrevocable guarantee by SPCPL
S. D. Corporation Pvt Ltd             Proposed CP*       Provisional   1000    Assigned
                                                         CARE A1+
* Credit enhancement in the form of proposed unconditional & irrevocable guarantee by SPCPL
Swaraj Sulz Pvt Ltd                   ST Bk Fac          CARE A4        6       -
(Issuer not cooperating)
Starconn Mobility Pvt Ltd             ST Bk Fac          -              -       Withdrawn
Venketswar Agro                       ST Bk Facility     CARE A4        2.7     Assigned
Viral Corporation India Pvt Ltd       ST Bk Fac          CARE A4        60      Reaffirmed

LONG TERM RATINGS:
-------------------
Aaryaman Recreation Club Ltd          LT Bk Fac          CARE D         75      Revised from
                                                                                CARE B+
Ador Ceramics Pvt Ltd                 LT Bk Fac          CARE BB-       61.7    Assigned
Bipin Engineers Pvt Ltd               LT Bk Fac          CARE B+        50.3    Assigned
Devi Engineering And Constructions PvtLT Bk Facility     CARE BBB-      100     Assigned
Ltd
Dimyra International                  LT Bk Fac          CARE B         59.1    Assigned
Excel Generators Pvt Ltd              LT Bk Fac          CARE BB-       30      Revised from
                                                                                CARE B+
Hinduja Housing Finance Ltd           LT Bk Fac          CARE AA-       12390.6 Reaffirmed
Hinduja Housing Finance Ltd           LT/Shortterm Bk FacCARE AA-/A1+   1550    Reaffirmed
Jupiter Dyechem Pvt Ltd               LT / ST Bk Fac     CARE BBB+/A2+  5850    Assigned
Karvy Solar Power Ltd                 Proposed NCD issue^Provisional    1300    Assigned
                                                         CARE A+
^proposed to be backed by unconditional and irrevocable corporate guarantee of Greenko Energies
Private Limited (GEPL; rated CARE A+; Stable/CARE A1+ ).
Ma Mahamaya Rice Mill Pvt Ltd         LT Bk Facility     CARE B+        113     Assigned
Mahamaya Infrastructure Pvt Ltd       LT Bk Fac          CARE D         700     Revised from
                                                                                CARE B+
New Era Enviro Ventures (Mahbubnagar) Proposed NCD issue^Provisional    510     Assigned
Pvt Ltd                                                  CARE A+   
^proposed to be backed by unconditional and irrevocable corporate guarantee of Greenko Energies
Private Limited (GEPL; rated CARE A+; Stable/CARE A1+ ).
Oriental Sales Corporation            LT Bk Fac          CARE BB        30      Revised from
                                                                                CARE BB-
Oriental Sales Corporation            LT /ST Bk Fac      CARE BB/A4     384     Revised from
                                                                                CARE BB-/A4
Pan Intellecom Ltd                    LT Bk Fac          CARE BB        30      Revised from
                                                                                CARE BB+
(Issuer not cooperating)
Pan Intellecom Ltd                    LT /ST Bk Fac      CARE BB/A4     90      Revised from
                                                                                CARE BB+/A4+
(Issuer not cooperating)
Pennar Renewables Pvt Ltd             Proposed NCD issue^Provisional    1400    Assigned
                                                         CARE A+ 
^proposed to be backed by unconditional and irrevocable corporate guarantee of Greenko Energies
Private Limited (GEPL; rated CARE A+; Stable/CARE A1+ ).
Premier Photovoltaic Medak Pvt Ltd    Proposed NCD issue^Provisional    2010    Assigned
                                                         CARE A+
^proposed to be backed by unconditional and irrevocable corporate guarantee of Greenko Energies
Private Limited (GEPL; rated CARE A+; Stable/CARE A1+ ).
Prithvi Edifice Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Pune Sholapur Road Development Co. LtdLT Bk Fac          CARE BB        7795.1  Revised from
                                                                                CARE BBB
Ramswaroop Shivhare                   LT Bk Fac          CARE B+        50      -
(Issuer not cooperating; Based on best available information)
Ramswaroop Shivhare                   LT / ST Bk Fac     CARE B+/A4     50      -
(Issuer not cooperating; Based on best available information)
Road Infrastructure Development CompanLT Bk Fac          CARE BB        10565.1 Reaffirmed at
Of Rajasthan Ltd                                                                CARE BBB-
Sarvottam Poultry Feed Supply Centre  LT Bk Fac          CARE B         153     Reaffirmed at
Pvt Ltd                                                                         CARE B
(Issuer Not cooperating)
Shri Jineshwar Buildcon Llp           LT Bk Fac          CARE B         50      Revised from
                                                                                CARE B+
(Issuer not cooperating)
Sigma-C Infrastructure Pvt Ltd        LT Bk Fac          CARE D         80      Revised from
                                                                                CARE BB
(Issuer not cooperating)
Sigma-C Infrastructure Pvt Ltd        LT Bk Fac          CARE D         240     -
(Issuer not cooperating)
Smt Mohini Devi Lekhraj Odhrani       LT Bk Fac          -              -       Withdrawn
Charitable Trust
Sri Dhandayuthapani Spinners Pvt Ltd  LT Bk Fac          CARE B+        148.3   Revised from
                                                                                CARE B
(Removed from Issuer not cooperating)
Starconn Mobility Pvt Ltd             LT Bk Fac          -              -       Withdrawn
Swaraj Sulz Pvt Ltd                   LT Bk Fac          CARE BB-       55.8    Revised from
                                                                                CARE BB
(Issuer not cooperating)
Utkarsh Developers                    LT Bk Fac          CARE BBB-      83      Assigned
V.R. Industries Pvt Ltd               LT Bk Fac          CARE B+        100     Reaffirmed at
                                                                                CARE BB-
(Issuer Not cooperating)
Venketswar Agro                       LT Bk Facility     CARE B+        66.3    Assigned
Viral Corporation India Pvt Ltd       LT Bk Fac          CARE B         65      Reaffirmed
Vivriti Trippier 07 2018 - S.M.I.L.E. Series A1 PTC#     Provisional    239.6   Assigned
Microfinance Ltd                                         CARE A- 
# Both the PTCs are rated on Ultimate Payment basis
Vivriti Trippier 07 2018 - S.M.I.L.E. Series A2 PTC#     Provisional    11.1    Assigned
Microfinance Ltd                                         CARE BBB   
# Both the PTCs are rated on Ultimate Payment basis
--------------------------------------------------------------------------------------------
$: 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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