July 4, 2018 / 9:33 AM / 3 months ago

CARE ratings for Indian debt instruments-Jul 4

    Jul 4 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 3, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Abs Construction Co                   ST Bk Fac          CARE A4        3.5     Assigned
Adi Tradelink                         ST Bk Fac          CARE A2+       175     Assigned
Allix Ceramic Pvt Ltd                 ST Bk Fac          CARE A4        1.35    Reaffirmed
Ambey Laboratories Pvt Ltd            ST Bk Fac          CARE A4        8.75    Revised from
                                                                                CARE A4+
Anamika Conductors Pvt Ltd            ST Bk Fac          CARE A4+       44      -
(Issuer not cooperating; Based on best available information)
Anupam Creation Pvt Ltd               ST Bk Fac          CARE A4        1       Assigned
Arvind Ltd                            CP (CP)            CARE A1+       600     Reaffirmed
                                      (Standalone)
Arvind Ltd                            CP (carved out)    CARE A1+       100     Reaffirmed
Bhadohi International                 ST Bk Fac          CARE A4        5       Reaffirmed
Btw Atlanta Transformers India Pvt LtdST Bk Facilitie    CARE A4+       18.75   Assigned
Chicago Constructions International PvST Bk Fac          CARE A4        3.5     Assigned
Ltd
Corona Vitrified Pvt Ltd              ST Bk Fac          CARE A4        3       Revised from
                                                                                CARE A4+
Dinesh Engineers Ltd                  ST Bk Fac          CARE A3+       107     Reaffirmed
Dynasoure Concrete Treatment Pvt Ltd  ST Bk Fac          CARE A4        2.25    Assigned
Eminent Dealers Pvt Ltd               ST Bk Fac          CARE A3        0.41    Assigned
Eco Polyfibres Pvt Ltd                ST Bk Fac          CARE D         7.5     Reaffirmed
Garima Castings                       ST Bk Fac          CARE A4        3.5     Assigned
Giriraj Jewellers Pvt Ltd             ST Bk Fac          CARE A4        6.5     Assigned
Goldstar Polymers Ltd                 ST Bk Fac          CARE A4        0.25    Reaffirmed
Goyal Educational And Welfare Society ST Bk Fac          CARE D         1       Reaffirmed
Hema Dyechem Pvt Ltd                  ST Bk Fac          CARE A4+       2.2     Revised from
                                                                                CARE A3
(ISSUER NOT COOPERATING)
Hema Dyeing & Printing Mills Pvt Ltd  ST Bk Fac          CARE A4        0.1     Revised from
                                                                                CARE A4+
Himachal Futuristic Communications LtdST Bk Fac          CARE A2+       1281.2  Reaffirmed
Hindupur Solar Park Pvt Ltd           ST Bk Fac          CARE A1+ (SO) ^160.69  Revised from
                                                                                CARE BBB+
^Credit enhancement in the form of unconditional & irrevocable Letter of Comfort from L&T
Infrastructure Finance Company Ltd (LTIFCL, rated CARE AAA; Stable/CARE A1+)
Hindupur Solar Park Pvt Ltd           ST Bk Fac          CARE A1+ (SO) ^160.69  Revised from
                                                                                CARE BBB+
^Credit enhancement in the form of unconditional & irrevocable Letter of Comfort from L&T
Infrastructure Finance Company Ltd (LTIFCL, rated CARE AAA; Stable/CARE A1+)
Hubergroup India Pvt Ltd              CP (CP) issue*     CARE A1+       100     Reaffirmed
*carved out of the sanctioned working capital limits of the company
Idea Cellular Ltd                     CP (CP) Issue      CARE A1+       2000    -
(Continues on Credit Watch
with Developing Implications)
Janam Diamonds Pvt Ltd                ST Bk Fac          CARE A4        14      Revised from
                                                                                CARE A4+
(Issuer not cooperating; Based on best available information)
Juniper Hotels Pvt Ltd                ST Bk Fac          CARE A4        3       -
(Issuer Not Cooperating; Based on best available information)
K.C.P. Sugar And Industries CorporatioST Bk Fac          CARE A1        6.5     Reaffirmed
Ltd
Krishna Overseas                      ST Bk Fac          CARE A4        8.4     Reaffirmed
Kumar Civil Infra Consortium India PvtST Bk Fac          CARE A4        5       Assigned
Ltd
Maharaja Roofing Products             ST Bk Fac          CARE A4        1       Reaffirmed
Mgi Infra Pvt Ltd                     ST Bk Fac          CARE A4        4.7     -
(ISSUER NOT COOPERATING)
Muralikrishna Construction Company    ST Bk Fac          CARE A4        12.75   Assigned
Rali Engineering Works                ST Bk Fac          CARE A4        3       Reaffirmed
Ramniklal & Sons                      ST Bk Fac          CARE D         6       -
(Issuer not cooperating; Based on best available information)
Rockdude Exim Pvt Ltd                 ST Bk Fac          CARE A4        3       -
(ISSUER NOT COOPERATING)
Rockdude Impex Pvt Ltd                ST Bk Fac          CARE A4        11      -
(ISSUER NOT COOPERATING)
Royal Imports And Exports             ST Bk Fac          CARE A4        9       Assigned
Sb Energy Solar Pvt Ltd               ST Bk Fac          CARE A2+       75      Assigned
Sharda Construction And Corporation   ST Bk Fac          CARE A3+       150     Assigned
Pvt Ltd
Shiv Shakti Fibre Udyog               ST Bk Fac          CARE A4        5       Reaffirmed
Simplex Engineers & Traders           ST Bk Fac          CARE A4        14.5    Reaffirmed
Sri Vengamamba Hotels And Resorts     ST Bk Fac          CARE A4        0.25    Assigned
Sukhras Machines Pvt Ltd              ST Bk Fac          CARE A4        5       Reaffirmed
Yasho Industries Ltd                  ST Bk Fac          CARE A3        18.5    Revised from
                                                                                CARE A4+
York Transport Equipment (India) Pvt  ST Bk Fac          CARE A2+       15      Revised from
                                                                                CARE A2
(Removed from credit watch with developing implications)
Jayachandran Alloys Pvt Ltd           ST Bk Fac          -              -       Withdrawn

MEDIUM TERM RATINGS:
-------------------
K.C.P. Sugar And Industries           Fixed Deposit      CARE A (FD)    83.64   Reaffirmed
CorporationLtd                        programme


LONG TERM RATINGS:
-------------------
Abs Construction Co                   LT Bk Fac          CARE BB-       2.27    Assigned
Admiron Life Sciences Pvt Ltd         LT Bk Fac          CARE D         59.25   -
(ISSUER NOT COOPERATING)
Allix Ceramic Pvt Ltd                 LT Bk Fac          CARE B+        6.8     Reaffirmed
Ambey Laboratories Pvt Ltd            LT Bk Fac          CARE BB        23.69   Revised from
                                                                                CARE BB+
Ambizione Infrastructure Pvt Ltd      LT Bk Fac          CARE B+        12      Assigned
Anamika Conductors Pvt Ltd            LT Bk Fac          CARE BB+       41.63   -
(Issuer not cooperating; Based on best available information)
Anamika Conductors Pvt Ltd            LT/ST Bk Fac       CARE BB+/A4+   35      -
(Issuer not cooperating; Based on best available information)
Anupam Creation Pvt Ltd               LT Bk Fac          CARE BB-       16.5    Assigned
Azure Power India Pvt Ltd             LT Bk Fac          CARE A+        194.46  Reaffirmed
Azure Power India Pvt Ltd             LT / ST Bk Fac     CARE A+/A1+    1023    Reaffirmed
Azure Power India Pvt Ltd             LT / ST Bk Fac     CARE A+/A1+    500     Assigned
Btw Atlanta Transformers India Pvt LtdLT Bk Fac          CARE BB+       37.5    Assigned
Btw Atlanta Transformers India Pvt LtdLong/ST Bk Fac     CARE BB+/A4+   18.75   Assigned
Chandana Rice Industries              LT Bk Fac          CARE B+        17      Assigned
Chicago Constructions International   LT Bk Fac          CARE BB-       16.5    Reaffirmed
Pvt Ltd
Consolidated Coin Company Pvt Ltd     LT Bk Fac          CARE BBB       5       Reaffirmed
(Removed from Issuer not cooperating)
Consolidated Coin Company Pvt Ltd     LT/ ST Bk Fac      CARE BBB/A3+   255     Reaffirmed
(Removed from Issuer not cooperating)
Corona Vitrified Pvt Ltd              LT Bk Fac          CARE BB        8       Reaffirmed
Deccan Hyderabad Trade Impex Pvt Ltd  LT Bk Fac          CARE D         10      -
(ISSUER NOT COOPERATING)
Dinesh Engineers Ltd                  LT Bk Fac          CARE BBB       5       Reaffirmed
Dinesh Engineers Ltd                  LT / ST Bk Fac     CARE BBB/A3+   38      Reaffirmed
Dynasoure Concrete Treatment Pvt Ltd  LT Bk Fac          CARE BB-       0.24    Assigned
Dynasoure Concrete Treatment Pvt Ltd  LT/ST Bk Fac       CARE BB- /A4   4       Assigned
Eco Polyfibres Pvt Ltd                LT Bk Fac          CARE D         7.5     Reaffirmed
Eco Polyfibres Pvt Ltd                LT Bk Fac          CARE D         7.5     Reaffirmed
Eminent Dealers Pvt Ltd               LT Bk Fac          CARE BBB-      5.09    Assigned
Eminent Dealers Pvt Ltd               LT/ST Bk Fac       CARE BBB-/A3   9.5     Assigned
Gail Gas Ltd                          Proposed Bond Issue-              -       Withdrawn
Garima Castings                       LT Bk Fac          CARE BB        13.48   Assigned
Garima Castings                       LT Bk Fac/ ST Bk   CARE BB/A4     5       Assigned
                                      Fac
Giriraj Jewellers Pvt Ltd             LT Bk Fac          CARE BB-       8.5     Assigned
Goldstar Polymers Ltd                 LT/ST Bk Fac       CARE B+/A4     7       Reaffirmed
Goyal Educational And Welfare Society LT Bk Fac          CARE D         12      Reaffirmed
Hema Dyechem Pvt Ltd                  LT/ST Bk Fac       CARE BB+/CARE  14.5    Revised from
                                                         A4+                    CARE BBB-/A3
(ISSUER NOT COOPERATING)
Hema Dyeing & Printing Mills Pvt Ltd  LT Bk Fac          CARE BB        5       Revised from
                                                                                CARE BB+
Himachal Futuristic Communications LtdLT Bk Fac          CARE A-        588.36  Reaffirmed
Himachal Futuristic Communications LtdLT Instrument – NCDCARE A-        33.73   Reaffirmed
Himachal Futuristic Communications LtdLT Instrument -    CARE BBB+      60.38   Reaffirmed
                                      Cumulative              *
                                      Redeemable PS
*The rating assigned to the Cumulative Redeemable Preference Shares of HFCL is one notch lower
to the bank facilities due to the subordinated nature of the instrument to bank debt.
Hindupur Solar Park Pvt Ltd           LT Bk Fac          -              -       Withdrawn*
*CARE has withdrawn the rating assigned to the long-term bank facilities of Hindupur Solar Park
Private Limited with immediate effect, as the company has repaid the amounts under the said
facility with outstanding amount being reduced to Rs.321.38 crore and the bank facilities
becoming short-term in nature
Hissar Pipes Pvt Ltd                  LT Bk Fac          CARE BB-       10      Reaffirmed
Hubergroup India Pvt Ltd              LT Bk Fac          CARE AAA       350     Reaffirmed
Hubergroup India Pvt Ltd              LT/ ST Bk Fac      CARE AAA/A1+   768.4   Reaffirmed
Idea Cellular Ltd                     LT Bk Fac          CARE AA        30377.34-
(Continues on Credit Watch with Developing Implications)
Idea Cellular Ltd                     NCD (NCD) issue    CARE AA        6401    -
(Continues on Credit Watch with Developing Implications)
India Flysafe Aviation Ltd            LT Bk Fac          CARE BB        96.12   Reaffirmed
J.B. Gold Pvt Ltd                     LT Bk Fac          CARE B         9       Reaffirmed
Janam Diamonds Pvt Ltd                Topdom Marketing   CARE BB        18.5    Revised from
                                      Private Limited                           CARE BB+
(Issuer not cooperating; Based on best available information)
Jayachandran Alloys Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Juniper Hotels Pvt Ltd                LT Bk Fac          CARE BB        70.61   -
(Issuer Not Cooperating; Based on best available information)
K.C.P. Sugar And Industries Corp      LT Bk Fac          CARE A         162.38  Reaffirmed
Ltd
Kahaan Polymers Llp                   LT Bk Fac          CARE B+        12.19   Assigned
Kumar Civil Infra Consortium India PvtLT Bk Fac          CARE B-        5       Assigned
Ltd
Maharaja Roofing Products             LT Bk Fac          CARE BB-       6.97    Revised from
                                                                                CARE BB
Marikal Solar Parks Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Mgi Infra Pvt Ltd                     LT Bk Fac          CARE BB-       4       Revised from
                                                                                CARE BB
(ISSUER NOT COOPERATING)
Muralikrishna Construction Company    LT Bk Fac          CARE BB        6       Assigned
Oddiville Foods And Frozen            LT Bk Fac          CARE B+        9.78    Assigned
Om Packaging                          LT Bk Fac          CARE B+        6       Reaffirmed
P T Motors Pvt Ltd                    LT Bk Fac          CARE BB        15      Reaffirmed
Power Televentures Pvt Ltd            LT Bk Fac          CARE D         15.8    Revised from
                                                                                CARE BB
(ISSUER NOT COOPERATING)
Power Televentures Pvt Ltd            LT/ shortterm Bk   CARE D / D     8       Revised from
                                      Fac                                       CARE BB/A4
(ISSUER NOT COOPERATING)
R.R. Polynet Pvt Ltd                  LT Bk Fac          CARE D         3.18    Revised from
                                                                                CARE B+
R.R. Polynet Pvt Ltd                  LT Bk Fac/ ST Bk   CARE D         5.6     Revised from
                                      Fac                                       CARE B+/A4
Rali Engineering Works                LT Bk Fac          CARE B+        4       Revised from
                                                                                BB-
Ramniklal & Sons                      LT Bk Fac          CARE D         17      -
(Issuer not cooperating; Based on best available information)
Renew Power Ltd                       LT Bk Fac          CARE A+        1234.03 Assigned
                                      (Non-Fund)
Rockdude Exim Pvt Ltd                 LT Bk Fac          CARE B         1.9     Revised from
                                                                                B+
(ISSUER NOT COOPERATING)
Rockdude Impex Pvt Ltd                LT Bk Fac          CARE B+        10.9    Revised from
                                                                                CARE BB-
(ISSUER NOT COOPERATING)
Royal Imports And Exports             LT Bk Fac          CARE BB-       6       Assigned
Sagar Pulses Pvt Ltd                  LT Bk Fac          CARE BB-       34.15   Assigned
Salasar Balaji Industries             LT Bk Fac          CARE BB-       15      Revised from
                                                                                CARE BB
(ISSUER NOT COOPERATING)
Satman Automobile Pvt Ltd             LT Bk Fac          CARE B         15      Revised from
                                                                                CARE B+
Sb Energy Four Pvt Ltd                LT Bk Fac          CARE A-        40      Assigned
Sb Energy Pvt Ltd                     LT Bk Fac*         CARE A-        700     Assigned
* SB Energy Pvt. Ltd. (SBPL), SB Energy Six Pvt. Ltd. (SBSIPL), SB Energy Seven Pvt. Ltd.
(SBSEPL), SB Energy Solar Pvt. Ltd. (SBSPL), SBG Cleantech Energy Eight Private Limited (SBEEPL)
and SBE Renewables Ten Private Limited (SBTPL) (collectively referred to as co-obligors) are
authorized to utilize the aforementioned limits interchangeably, subject to maximum availment of
the amount of facility specified (i.e. Rs.700 crore) and would be jointly and severally liable
for the facility.
Shakshi Coir Products Pvt Ltd         LT Bk Fac          CARE B+        6.9     Assigned
Shanti Agro Foods Pvt Ltd             LT Bk Fac          CARE D         29.42   Revised from
                                                                                CARE B+
Sharda Construction And Corporation   LT Bk Fac          CARE BBB+      150     Assigned
Ltd
Shiv Shakti Fibre Udyog               LT Bk Fac          CARE B         2.5     Revised from
                                                                                CARE B+
Shri Mahavir Bright Steel Udyog       LT Bk Fac          CARE B         8       Reaffirmed
Simplex Engineers & Traders           LT Bk Fac          CARE B         0.5     Revised from
                                                                                CARE B+
Skb Foods Products Pvt Ltd            LT Bk Fac          CARE BB+       10      Revised from
                                                                                CARE BB+
Sony Aircon                           LT Bk Fac          CARE B         10      Revised from
                                                                                CARE B+
(Issuer not cooperating)
Sri Vengamamba Hotels And Resorts     LT Bk Fac          CARE BB-       4.75    Assigned
Sukhras Machines Pvt Ltd              LT Bk Fac          CARE BB-       5       Reaffirmed
Tata Capital Financial Services Ltd   Perpetual Debt     CARE AA        600     Reaffirmed
Tata Capital Financial Services Ltd   LT Bk Fac          CARE AA+       1085    Reaffirmed
Tata Capital Financial Services Ltd   NCDs               CARE AA+       3464    Reaffirmed
Tata Capital Financial Services Ltd   Subordinated Debt  CARE AA+       2000    Reaffirmed
Tata Cleantech Capital Ltd            Subordinated debt  CARE AA+       100     Reaffirmed
Tata Cleantech Capital Ltd            NCD                CARE AA+       300     Reaffirmed
Topdom Marketing Pvt Ltd              Topdom Marketing   CARE BB+       17      Reaffirmed
                                      Private Limited
Vibrant Fab Pvt Ltd                   LT/ST Bk Fac       CARE BB-/A4    12.5    -
(ISSUER NOT COOPERATING)
Visage Holdings And Finance Pvt Ltd   LT Bk Fac          CARE BBB       77      Revised from
                                                                                CARE BBB-
Visage Holdings And Finance Pvt Ltd   NCD-I              CARE BBB       21      Revised from
                                                                                CARE BBB-
Visage Holdings And Finance Pvt Ltd   NCD-II             CARE BBB       12      Revised from
                                                                                CARE BBB-
Visage Holdings And Finance Pvt Ltd   NCD-III            CARE BBB       32      Revised from
                                                                                CARE BBB-
Visage Holdings And Finance Pvt Ltd   Sub-ordinated Debt CARE BBB       12      Revised from
                                      issue                                     CARE BBB-
(Continues on Credit Watch with Developing Implications)
Yasho Industries Ltd                  LT / ST Bk Fac     CARE BBB-/CARE 49      Revised from
                                                         A3                     CARE BB+ /
                                                                                CARE A4+
York Transport Equipment (India) Pvt  LT FB Fac (TL)     -              -       Withdrawn
York Transport Equipment (India) Pvt  LT Bk Fac          CARE A-        40      Revised from
                                                                                CARE BBB+
(Removed from credit watch with developing implications)
Zyfix Tools Pvt Ltd                   LT Bk Fac          CARE BB        7       Assigned

--------------------------------------------------------------------------------------------
$: 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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