June 5, 2018 / 9:17 AM / 20 days ago

CARE ratings for Indian debt instruments-Jun 5

    Jun 5 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 4, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
5 Core Acoustics Pvt Ltd              ST Bk Fac          CARE A4+       150     -
(ISSUER NOT COOPERATING)
Amritlal Naresh Kumar                 ST Bk Fac          CARE A4        110     -
(ISSUER NOT COOPERATING)
Andhra Bank                           CD Programme       CARE A1+       50000   Reaffirmed
Bannari Amman Sugars Ltd              ST Bk Fac          CARE A1+       75      Reaffirmed
Deep Industries Ltd                   ST Bk Fac          CARE A1        21.7    -
(Ratings placed on
credit watch with
negative implications)
Digi Export Venture Pvt Ltd           ST Bk Fac          CARE A4+       160     -
(ISSUER NOT COOPERATING)
Ems And Exports                       ST Bk Fac          CARE A4+       430     -
(ISSUER NOT COOPERATING)
Five Core Electronics Ltd             ST Bk Fac          CARE A4+       40      -
(ISSUER NOT COOPERATING)
Happy Acoustics Pvt Ltd               ST Bk Fac          CARE A4+       365     -
(ISSUER NOT COOPERATING)
H. S. Mehta Infra Pvt Ltd             ST Bk Fac          -              -       Withdrawn
Indian Acoustics Pvt Ltd              ST Bk Fac          CARE A4+       240     -
(ISSUER NOT COOPERATING)
Irm Energy Pvt Ltd                    ST Bk Fac          CARE A2        750     Assigned
Neha Exports                          ST Bk Fac          CARE A4        140     -
(ISSUER NOT COOPERATING)
Rsk Industries Pvt Ltd                ST Bk Fac          CARE A4        20.4    -
(ISSUER NOT COOPERATING)
Visual And Acoustics Corporation Llp  ST Bk Fac          CARE A4+       115     -
(ISSUER NOT COOPERATING)


MEDIUM TERM RATINGS:
-------------------
Ncl Industries Ltd                    Fixed Deposit      CARE BBB (FD)  650     -
(ISSUER NOT COOPERATING)


LONG TERM RATINGS:
-------------------
Aleph Enterprises                     Long -term Bk Fac  CARE B+        10      -
(ISSUER NOT COOPERATING)
Aleph Enterprises                     LT/Short -term Bk  CARE B+/A4     70      -
                                      Fac
(ISSUER NOT COOPERATING)
Alpha Pacific Systems Pvt Ltd         LT Bk Fac          CARE B+        60      Assigned
Alpha Pacific Systems Pvt Ltd         LT/ST Bk Fac       CARE B+/A4     40      Assigned
Amritlal Naresh Kumar                 LT Bk Fac          CARE BB-       15      -
Andhra Bank                           Lower Tier II      -              -       Withdrawn
                                      Bonds (Series F)
Andhra Bank                           Tier I Bonds       CARE A+        8000    Revised from
                                      (Basel III) -                             CARE AA-
                                      Perpetual Bonds
Andhra Bank                           Tier I Bonds       CARE A+        9000    Revised from
                                      (Basel III) -                             CARE AA-
                                      Perpetual Bonds - Series III
Andhra Bank                           Tier I Bonds       CARE A+        5000    Revised from
                                      (Basel III) -                             CARE AA-
                                      Perpetual Bonds - Series IV
Andhra Bank                           LT Bonds           CARE AA        5001    Revised from
                                                                                CARE AA+
Andhra Bank                           Lower Tier II      CARE AA        6000    Revised from
                                      Bonds – Series G                          CARE AA+
Andhra Bank                           Lower Tier II      CARE AA        3200    Revised from
                                      Bonds – Series H                          CARE AA+
Andhra Bank                           Tier-II            CARE AA        5000    Revised from
                                      Bonds-Series A                            CARE AA+
                                      (Basel III)
Andhra Bank                           Tier-II            CARE AA        5000    Revised from
                                      Bonds-Series B                            CARE AA+
                                      (Basel III)
Andhra Bank                           Tier-II            CARE AA        10000   Revised from
                                      Bonds-Series C                            CARE AA+
                                      (Basel III)
Andhra Bank                           Tier-II            CARE AA        10000   Revised from
                                      Bonds-Series D                            CARE AA+
                                      (Basel III)
Andhra Bank                           Upper Tier II      CARE AA-       2800    Revised from
                                      Bonds – Series C                          CARE AA
Bannari Amman Sugars Ltd              LT Bk Fac          CARE A+        5860    Assigned
Bannari Amman Sugars Ltd              LT /ST Bk Fac      CARE A+/A1+    154     Assigned
Cedar Inclusive Finance Trust 5 - EsafSeries A2 PTCs     CARE A-        29.4    Assigned
Small Finance Bank Ltd
Cedar Inclusive Finance Trust 5 - EsafSeries A1 PTCs     CARE AA-       393.7   Assigned
Small Finance Bank Ltd
Cedar Inclusive Finance Trust 5 - EsafSeries A3 PTCs     CARE BBB       15.8    Assigned
Small Finance Bank Ltd
Chemietron Clean Tech Pvt Ltd         LT Bk Fac          CARE D         54.6    Revised from
                                                                                CARE B+
Chemietron Clean Tech Pvt Ltd         LT Bk Fac / ST Bk  CARE D         10      Revised from
                                      Fac                                       CARE B+/A4
Deep Industries Ltd                   LT Bk Fac          CARE A         2824.3  -
(Ratings placed on credit watch with negative implications)
Deep Industries Ltd                   LT / ST Bk Fac     CARE A / A1    900     -
(Ratings placed on credit watch with negative implications)
Ems And Exports                       LT Bk Fac          CARE BB+       20      -
(ISSUER NOT COOPERATING)
Five Core Electronics Ltd             LT Bk Fac          CARE BB+       10      -
(ISSUER NOT COOPERATING)
Goel Roadways                         LT Bk Fac          CARE B+        60      Reaffirmed
H. S. Mehta Infra Pvt Ltd             LT Bk Fac          -              -       Withdrawn
(ISSUER NOT COOPERATING)
Happy Acoustics Pvt Ltd               LT Bk Fac          CARE BB+       15      -
(ISSUER NOT COOPERATING)
Impact Solar Power Pvt Ltd            LT Bk Fac          -              -       Withdrawn
Indian Acoustics Pvt Ltd              LT Bk Fac          CARE BB+       35.4    -
(ISSUER NOT COOPERATING)
Irm Energy Pvt Ltd                    LT Bk Fac          CARE BBB+      1980    Assigned
Irm Energy Pvt Ltd                    LT/ST Bk Fac       CARE BBB+/A2   100     Assigned
Ncl Industries Ltd                    LT Bk Fac          -              -       Withdrawn
Ncl Industries Ltd                    LT/ST Bk Fac       -              -       Withdrawn
Neha Exports                          LT Bk Fac          CARE BB-       10      -
(ISSUER NOT COOPERATING)
Omaxe Ltd                             NCD                -              -       Withdrawn
Ramakrishna Electronics_Karnataka     LT Bk Fac          CARE D         60      -
Division
(ISSUER NOT COOPERATING)
Rsk Industries Pvt Ltd                LT Bk Fac          CARE BB-       1.5     -
(ISSUER NOT COOPERATING)
Rsk Industries Pvt Ltd                LT Bk Fac/ ST Bk   CARE BB-/A4    40      -
                                      Fac
(ISSUER NOT COOPERATING)
Sai Silks (Kalamandir) Ltd            LT Bk Fac          CARE BBB+      1497.2  Reaffirmed
Swagattam Plastics                    LT Bk Fac          CARE BB        20.5    -
(ISSUER NOT COOPERATING)
Swagattam Plastics                    LT/ST Bk Fac       CARE BB/A4     45      -
(ISSUER NOT COOPERATING)
The Lakshmi Vilas Bank Ltd            Lower Tier II BondsCARE BBB+      505     Revised from
                                                                                CARE A-
The Lakshmi Vilas Bank Ltd            Tier II Bonds      CARE BBB+      781     Revised from
                                      (Basel III                                CARE A-
                                      Compliant) –I
The Lakshmi Vilas Bank Ltd            Tier II Bonds      CARE BBB+      1401    Revised from
                                      (Basel III                                CARE A-
                                      Compliant) –II
The Lakshmi Vilas Bank Ltd            Tier II Bonds      CARE BBB+      1000    Revised from
                                      (Basel III                                CARE A-
                                      Compliant) –III
Veritas Finance Pvt Ltd               NCDs               CARE BBB       1500    Revised from
                                                                                CARE BBB-
Veritas Finance Pvt Ltd               LT Bk Fac          CARE BBB       1000    Revised from
                                                                                CARE BBB-
Vijay Grihnirman Pvt Ltd              Proposed LT        -              -       Withdrawn
                                      NonConvertible
                                      Debenture
Visual And Acoustics Corporation Llp  LT Bk Fac          CARE BB+       15      -
(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)
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