June 8, 2018 / 6:14 AM / 16 days ago

CARE ratings for Indian debt instruments-Jun 8

    Jun 8 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 7, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
B. S. Agriculture Industries (India)  ST Bk Fac          CARE A4        37.5    Assigned
Baroda Equipments And Vessels Pvt Ltd ST Bk Fac          CARE A4        42      -
(Issuer not co operating; Based on best available information)
Brooks Laboratories Ltd               ST Bk Fac          CARE A4+       25      Revised from
                                                                                CARE A3
Ceigall India Ltd                     ST Bk Fac          -              -       Withdrawn
Dhariwal Infrastructure Ltd           ST BkFac           CARE A3        1000    Reaffirmed
Enn Tee International Ltd             ST Bk Fac          CARE D         1       Revised from
                                                                                CARE A4
(Issuer not co operating)
Ganga R.K. Industries Pvt Ltd         ST Bk Fac          CARE A4        15      Reaffirmed
Global Construction                   ST Bk Fac          CARE A4        55      Assigned
H S Ramesh                            ST Bk Fac          CARE A4        40      Assigned
Joy Guru Cold Storage Pvt Ltd         ST BkFac           CARE A4        0.7     Assigned
Kotecha Steel Forge Pvt Ltd           ST BkFac           CARE A4        9.5     Reaffirmed
Mercator Oil And Gas Ltd              ST BkFac           CARE A3 (SO)   1240    Revised from
                                                                                CARE A3+
Orchid Exim (India) Pvt Ltd           ST Bk Fac          CARE A4        14      Reaffirmed
Orient Cement Ltd                     CP (CP) issue*     CARE A1+       1500    Reaffirmed
(Removed from credit watch),*Carved out of the sanctioned working capital limits of the company.

Orient Cement Ltd                     CP (CP) issue      CARE A1+       1000    Reaffirmed
(Removed from credit watch)
Pluto Ceramic                         ST Bk Fac          CARE D         12.5    -
(Issuer not co operating; Based on best available information)
P.A.R.K. Industries Pvt Ltd           ST Bk Fac          CARE A4+       25      -
R. I. Cotton Pvt Ltd                  ST Bk Fac          CARE A4        22.5    -
(Issuer not co operating; Based on best available information)
Swastik Ceracon Ltd                   ST Bk Fac          CARE D         155     Revised from
                                                                                CARE A4
(Issuer not co operating; Based on best available information)
Vaibhav Laxmi Exports Pvt Ltd         ST Bk Fac          CARE A4        35      -
(Issuer not co operating; Based on best available information)

LONG TERM RATINGS:
-------------------
B. S. Agriculture Industries (India)  LT Bk Fac          CARE B+        41.9    Assigned
Baroda Equipments And Vessels Pvt Ltd LT Bk Fac/ ST Bk   CARE BB/A4     55      -
                                      Fac
(Issuer not co operating; Based on best available information)
Brooks Laboratories Ltd               LT Bk Fac          CARE BB+       274.6   Revised from
                                                                                CARE BBB-
Ceigall India Ltd                     LT Bk Fac          -              -       Withdrawn
Cure Life Care Pvt Ltd                LT Bk Fac          CARE D         176.1   -
(Issuer not co operating; Based on best available information)
Dhampur International Pte Ltd         LT /ST - Fund      CARE           230    Revised from
                                      based/Non Fund     A-(SO)/A1             Provisional
                                      based              (SO)                  CARE A-(SO)/CARE
                                                                                A1 (SO)
Dhariwal Infrastructure Ltd           LT BkFac           CARE BBB       33810.2 Reaffirmed
Edelweiss Finvest Pvt Ltd             NCDs               CARE AA        1500    Assigned
Edelweiss Finvest Pvt Ltd             Principal          CARE PP-MLD AA 2000    Assigned
                                      Protected Market
                                      Linked Debentures
Enn Tee International Ltd             LT Bk Fac          CARE D         99.1    Revised from
                                                                                CARE B+
(Issuer not co operating)
F3 Marine Foods Worldwide             LT Bk Fac          CARE B+        200     Assigned
Ganga R.K. Industries Pvt Ltd         LT Bk Fac          CARE BB        30      Revised from
                                                                                CARE BB-
Ganga R.K. Industries Pvt Ltd         LT/ ST Bk Fac      CARE BB/A4     70      LT revised
                                                                                from CARE BB-
                                                                                / ST Reaffirmed
Global Construction                   Long- term Bk Fac  CARE BB        70      Assigned
H S Ramesh                            LT Bk Fac          CARE B+        50      Assigned
Joy Guru Cold Storage Pvt Ltd         LT BkFac           CARE B         80      Assigned
Kotecha Steel Forge Pvt Ltd           LT/ ST BkFac       CARE BB/A4     50      LT revised
                                                                                from CARE BB-
                                                                                / ST Reaffirmed
Mahashakti Cold Storage Pvt Ltd       LT Bk Facility     CARE B+        73      Assigned
Mercator Oil And Gas Ltd              LT BkFac           CARE BBB (SO)  992     Revised from
                                                                                CARE BBB+
Mercator Petroleum Ltd                Long/STBk Fac      CARE BBB       950     Revised from
                                                         (SO)/A3(SO)            CARE
                                                                                BBB+(SO)/ 
                                                                                CARE A3+ (SO)
Orchid Exim (India) Pvt Ltd           LT/ST BkFac        CARE BB-/A4    120     Reaffirmed
Orient Cement Ltd                     LT Bk Fac          CARE AA-       13170   Reaffirmed
(Removed from credit watch)
P.A.R.K. Industries Pvt Ltd           LT Bk Fac          CARE BB+       9.9     Revised from
                                                                                CARE BB-
(Issuer not co operating)
P.A.R.K. Industries Pvt Ltd           LT/ST Bk Fac       CARE BB+/A4+   50      Revised from
                                                                                CARE BB-
(Issuer not co operating)
Paramount Chempro                     LT Bk Fac          CARE B+        70      Assigned
Pluto Ceramic                         LT Bk Fac          CARE D         43      -
(Issuer not co operating; Based on best available information)
R. I. Cotton Pvt Ltd                  LT Bk Fac          CARE B         165.6   -
(Issuer not co operating; Based on best available information)
Sai Swadhin Commercials Pvt Ltd       LT Bk Fac          CARE B         76.4    Assigned
Sanvira Industries Ltd                LT Bk Fac          CARE BBB+      3193.5  Revised from
                                                                                CARE BBB
Sanvira Industries Ltd                LT/ST Bk           CARE BBB+/A2   1200    Revised from
                                      Fac                                       CARE BBB/CARE
                                                                                A3+
Sarjay Chemicals Pvt Ltd              LT Bk Fac          CARE D         75      -
(Issuer not co operating; Based on best available information)
Savani Infracon Llp                   LT Bk Fac          CARE B+        250     Assigned
Steel Forge And Cast Industries       LT/ST BkFac        CARE BB/A4     60      LT revised
                                                                                from CARE BB-
                                                                                / ST Reaffirmed
Swastik Ceracon Ltd                   LT Bk Fac          CARE D         766.2   Revised from
                                                                                CARE BB
(Issuer not co operating; Based on best available information)
Swastik Ceracon Ltd                   LT/ST Bk Fac       CARE D         25      Revised from
                                                                                CARE BB /
                                                                                CARE A4
(Issuer not co operating; Based on best available information)
Titagarh Singapore Pte Ltd            LT BkFac           CARE A (SO)    1200    Revised from
                                                                                CARE A+
Trenox Laminates                      LT Bk Fac          CARE B+        150     Assigned
Vaibhav Laxmi Exports Pvt Ltd         LT/ST Bk Fac       CARE B/A4      170     -
(Issuer not co operating; Based on best available information)
Vaibhav Laxmi Industries              LT/ST Bk Fac       CARE B/A4      180     -
(Issuer not co operating; Based on best available information)
Waaneep Solar Pvt Ltd                 Long term BkFac    CARE BBB+      3412.5  Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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