March 14, 2018 / 8:46 AM / 3 months ago

CARE ratings for Indian debt instruments-Mar 14

    Mar 14 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 13, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Accusonic Controls Pvt Ltd            ST Bk Fac          CARE A4        40      Reaffirmed
Bansal Extraction And Exports Pvt Ltd ST Bk Fac          CARE A4        30      Reaffirmed
Beeta Poly Coats Pvt Ltd              ST Bk Fac          -              -       Withdrawn
Cox And Kings Ltd                     CP Issue (carved   CARE A1+       16470   Reaffirmed
                                      out)*
(Enhanced from Rs.1,397 crore Crore)/*Carved out of the sanctioned working capital limits of the
company
Diamond Exports                       ST Bk Fac          -              -       Withdrawn
Galaxy Constructions And Contractors  ST Bk Fac          CARE A4        20
Pvt Ltd
ISSUER NOT COOPERATING
Glassco Laboratory Equipments Pvt Ltd ST Bk Fac          CARE A2        120     Reaffirmed
(Enhanced from Rs.8.00 crore Crore)
Gujarat Infrapipes Pvt Ltd            ST Bk Fac          CARE D         389     Revised from
                                                                                CARE A4
ISSUER NOT COOPERATING
Indiabulls Real Estate Ltd            CP (CP) Issue*     CARE A1+       15000   Reaffirmed
(Enhanced from 1,000.00 Crore)/*Backed by an undertaking given by the company stating that the
company would maintain cash and cash equivalents and undrawn facility limits in the company or
its subsidiaries to the extent of 60% of the amount of CP issued during the tenure of the CP.
Indian Designs Exports Pvt Ltd        ST BkFac           CARE A3+       2500    Revised from
                                                                                CARE A2
(enhanced from 162.68 crore Crore)
Lord Shiva Construction Company Pvt LtST Bk Fac          CARE A4        13.8
ISSUER NOT COOPERATING
Lulu Flight Kitchen Pvt Ltd           ST Bk Fac          CARE A3+       50      Reaffirmed
Mcnally Bharat Engineering Co. Ltd    ST Bk Fac          CARE D         400
(reduced from 395 Crore)
Om Yarn Plus Pvt Ltd                  ST Bk Fac          CARE A4        12.5
ISSUER NOT COOPERATING
Power Telecom                         ST Bk Fac          -              -       Withdrawn
Psn Automotive Marketing Pvt Ltd      ST Bk Fac          CARE A3        290     Reaffirmed
(enhanced from 11.50 Crore)
Quality Foods                         ST Bk Fac          CARE A4        50      Reaffirmed
Roj Leathers Exports Pvt Ltd          ST Bk Fac          CARE A4+       103
ISSUER NOT COOPERATING
Royel Impex                           ST Bk Fac          CARE A4        100     Assigned
Sahanu Sponge And Power Ltd           ST Bk Fac          CARE A4        3
ISSUER NOT COOPERATING
Sai Life Sciences Ltd                 ST Bk Fac          CARE A2+       806     Reaffirmed
(enhanced from 75.00 Crore)
Sajeev Mathew And Company             ST Bk Fac          CARE A4        50      Revised from
                                                                                CARE A4
ISSUER NOT COOPERATING
Satin Creditcare Network Ltd          CP (CP) issue      CARE A2        2000    Reaffirmed
(enhanced from 150 Crore)
S V Ispat Pvt Ltd                     ST Bk Fac          -              -       Withdrawn
Shera Metal Pvt Ltd                   ST Bk Fac          CARE A3        100     Reaffirmed
(reduced from 13 Crore)
Signode India Ltd                     CP-Proposed        CARE A1+       200     Assigned
Sinhgad Technical Education Society   ST Bk Fac          CARE D         164.5
ISSUER NOT COOPERATING
Souza Engineers And Contractors Pvt LtST Bk Fac          CARE A4        50      Reaffirmed
(enhanced from Rs.4.crore Crore)
Star Iris Exports Pvt Ltd             ST Bk Fac          -              -       Withdrawn
Suncity Sheets Pvt Ltd                ST Bk Fac          CARE A3        200     Revised from
                                                                                CARE A3+
ISSUER NOT COOPERATING
Suncity Strips And Tubes Pvt Ltd      ST Bk Fac          CARE A3        450     Revised from
                                                                                CARE A3+
ISSUER NOT COOPERATING
Visakha Container Terminal Pvt Ltd    ST Bk Fac          CARE A2        50      Reaffirmed
Yuken India Ltd                       ST Bk Fac          CARE A3        50      Reaffirmed

LONG TERM RATINGS:
-------------------
Aahil Products Company Pvt Ltd        LT Bk Fac          CARE B+        82.4    Assigned
Accusonic Controls Pvt Ltd            LT Bk Fac          CARE BB-       40      Revised from
                                                                                CARE BB-
Adilabad Municipality                 Issuer Rating      -              -       Withdrawn
-
Adishwar India Ltd                    LT Bk Fac          CARE BBB-      580     Reaffirmed
Amrapali Smart City Developers Pvt LtdLT BkFac           CARE D         2700    Issuer not
                                                                                cooperating
Bansal Extraction And Exports Pvt Ltd LT Bk Fac          CARE B+        171.5   Reaffirmed
Bansal Extraction And Exports Pvt Ltd LT/ ST Bk Fac      CARE B+/A4     450     Reaffirmed
Bansal Pathways (Damoh-Katni) Pvt Ltd LT Bk Fac          CARE BBB+      2100    Revised from
                                                                                CARE BBB
Bansal Pathways (Damoh-Katni) Pvt Ltd LT / ST Bk Fac     CARE BBB+/A2   75      Revised from
                                                                                CARE BBB /
                                                                                CARE A3
Beeta Poly Coats Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Bharat Spun Pipes And Construction    LT Bk Fac          CARE D         80      Revised from
Company                                                                         CARE BB-
ISSUER NOT COOPERATING
Bharat Spun Pipes And Construction    LT/ST Bk Fac       CARE D         200     Revised from
Company                                                                         CARE BB-
                                                                                /CARE A4
ISSUER NOT COOPERATING
Bharati Cv Northern Arc Capital 2018  Series A PTC       CARE A- (SO)   123.7   Assigned
Cox And Kings Ltd                     LT BkFac           CARE AA        -       Reaffirmed
Devinder Singh                        LT Bk Fac          CARE BB        70      Assigned
Diamond Exports                       LT Bk Fac          -              -       Withdrawn
Dighi Port Ltd                        LT Bk Fac          CARE D         7770.9
ISSUER NOT COOPERATING
Dnj Creations Llp                     LT Bk Fac          CARE BBB-      150     Assigned
Dq Entertainment International Ltd    LT Bk Fac          CARE D         1555.8
ISSUER NOT COOPERATING
Galaxy Constructions And Contractors  LT Bk Fac          CARE B         320
Pvt Ltd
ISSUER NOT COOPERATING
Glassco Laboratory Equipments Pvt Ltd LT Bk Fac          CARE BBB+      5       Reaffirmed
Greater Warangal Municipal CorporationIssuer Rating      CARE A-                Revised from
                                                                                CARE A
Gujarat Infrapipes Pvt Ltd            LT Bk Fac          CARE D         14.9    Revised from
                                                                                CARE BB
ISSUER NOT COOPERATING
Gujarat Infrapipes Pvt Ltd            LT / Shortterm Bk  CARE D         230     Revised from
                                      Fac                                       CARE BB /
                                                                                CARE A4
ISSUER NOT COOPERATING
Hitachi Payment Services Pvt Ltd      NCD (NCDs)         CARE AA        1200    Reaffirmed
Indiabulls Real Estate Ltd            Proposed NCD Issue CARE AA-       5000    Assigned
Indian Designs Exports Pvt Ltd        LT BkFac           CARE BBB       602.5   Revised from
                                                                                CARE BBB+
(enhanced from 44.52 crore Crore)
Indostar Capital Finance Ltd          LT debt programme  CARE AA-       49000   Reaffirmed
(enhanced from Rs. 3750 Crore)
Indostar Capital Finance Ltd          Market Linked      CARE PP-MLD AA-1000    Assigned
                                      Debentures
Kadambari Parboiled Rice Industries   LT Bk Facility     CARE B+        60.9    Assigned
Khammam Municipal Corporation         Issuer Rating      -              -       Withdrawn
Klm Axiva Finvest Ltd                 Proposed NCD issue CARE BB        1000    Assigned
Ksr Infracon Pvt Ltd                  LT Bk Fac          CARE BB+       100
ISSUER NOT COOPERATING
Ksr Infracon Pvt Ltd                  Long/ST Bk Fac     CARE BB+/A4+   400
ISSUER NOT COOPERATING
Kunvarji Warehousing And Logistics PvtLT Bk Fac          CARE BB+       39.4    Reaffirmed
Ltd
(Reduced from Rs.5.88 crore Crore)
L.S. Rice Exports Pvt Ltd             LT Bk Fac          CARE B+        48.3
ISSUER NOT COOPERATING
Lord Shiva Construction Company Pvt LtLT Bk Fac          CARE B+        105
ISSUER NOT COOPERATING
Lord Shiva Construction Company Pvt LtLT Bk Fac/ ST Bk   CARE B+/A4     75
                                      Fac
ISSUER NOT COOPERATING
Lulu Flight Kitchen Pvt Ltd           LT Bk Fac          CARE BBB       50      Reaffirmed
Lulu Flight Kitchen Pvt Ltd           LT/ST Bk Fac       CARE BBB/A3+   150     Reaffirmed
Mahabubnagar Municipality             Issuer Rating      -              -       Withdrawn
Mangalore Sez Ltd                     LT Bk Fac          CARE AA-       6967.9  Reaffirmed
Matrix Green Energy Pvt Ltd           LT Bk Fac          CARE BBB-      648.5   Reaffirmed
(enhanced from 27.75 Crore)
Mcnally Bharat Engineering Co. Ltd    Long/ST Bk Fac     -              -       Withdrawn
Mcnally Bharat Engineering Co. Ltd    LT Bk Fac          CARE D         1050    Issuer not
                                                                                cooperating
(reduced from 4,793.96 Crore)
Mcnally Bharat Engineering Co. Ltd    Non- Convertible   CARE D         435
                                      Redeemable PS
ISSUER NOT COOPERATING
Mpr Wind Farms                        LT BkFac           CARE BBB       134.6   Revised
                                                                                fromCARE BBB-
(reduced from 17.03 Crore)
Nalgonda Municipality                 Issuer Rating      -              -       Withdrawn
-
Narayan Cotgin Corporation            LT Bk Fac          CARE BB-       60      Assigned
Narayan Spinning Mills Pvt Ltd        LT Bk Fac          CARE BB        613.1   Reaffirmed
(enhanced from Rs.9.64 crore Crore)
Narayan Spinning Mills Pvt Ltd        LT/ST BkFac        CARE BB/A4     41.1    Reaffirmed
Nirmaan Rmbs Trust – Series I –       Series A Pass      ProvCARE       -       Assigned
2018-Originator: Dewan Housing FinanceThrough            AAA (SO)
Corporation Ltd                       Certificates
Om Yarn Plus Pvt Ltd                  LT Bk Fac          CARE BB        150.1
ISSUER NOT COOPERATING
Optival Health Solutions Pvt Ltd      LT BkFac           CARE BBB+      1050    Revised from
                                                                                CARE BBB-
Oswal Woollen Mills Ltd               CP (CP) issue*     -              -       Withdrawn
*carved out of the sanctioned working capital limits of the company
Paragon Industries Ltd                LT Bk Fac          CARE           841.9   Reaffirmed
                                                         BBB
(enhanced from 63.30 Crore)
Parasmani Buildwell Pvt Ltd           LT Bk Fac          CARE           150     Assigned
                                                         BB-
Power Telecom                         LT Bk Fac          -              -       Withdrawn
Psn Automotive Marketing Pvt Ltd      LT Bk Fac          CARE BBB-      25      Reaffirmed
Punjab Biomass Power Ltd              LT Bk Fac          CARE D         245.8
ISSUER NOT COOPERATING
Quality Foods                         LT Bk Fac          CARE B         19.2    Reaffirmed
Ratabhe Renewable Energy Pvt Ltd      LT Bk Fac          CARE A-        1375    Revised from
                                                                                CARE BBB
(reduced from 140.25 Crore)
Ritemed Pharma Retail Pvt Ltd         LT BkFac           CARE BBB+      180     Revised from
                                                                                CARE BBB-
Rkc Infrabuilt (Mehsana-Himatnagar)   LT Bk Fac*         CARE BBB (SO)  1500    Assigned
Road Project Pvt Ltd
*backed by unconditional and irrevocable corporate guarantee extended by RKC Infrabuilt Private
Limited (RKC; rated CARE BBB; Stable/CARE A3)
Rkc Infrabuilt (Savli-Halol) Road     LT Bk Fac*         CARE BBB (SO)  150     Assigned
Project Pvt Ltd
*backed by unconditional and irrevocable corporate guarantee extended by RKC Infrabuilt Private
Limited (RKC; rated CARE BBB; Stable/CARE A3)
Rkc Infrabuilt (Tarapur-Khambhat) RoadLT Bk Fac*         CARE BBB (SO)  84.5    Assigned
Project Pvt Ltd
*backed by unconditional and irrevocable corporate guarantee extended by RKC Infrabuilt Private
Limited (RKC; rated CARE BBB; Stable/CARE A3)
Royel Impex                           LT Bk Fac          CARE B+        50      Assigned
S V Ispat Pvt Ltd                     LT Bk Fac          -              -       Withdrawn
Sahanu Sponge And Power Ltd           LT Bk Fac          CARE B+        112.1
ISSUER NOT COOPERATING
Sai Life Sciences Ltd                 LT Bk Fac          CARE A         3157.6  Reaffirmed
(reduced from 339.12 Crore)
Sajeev Mathew And Company             LT Bk Fac          CARE B         100     Revised from
                                                                                CARE B+
ISSUER NOT COOPERATING
Shera Metal Pvt Ltd                   LT Bk Fac          CARE BBB-      230.6   Revised from
                                                                                CAREBBB-
(reduced from 25.48 Crore)
Shera Metal Pvt Ltd                   LT/ST BkFac        CARE BBB-/A3   2.5     Revised from
                                                                                CARE
                                                                                BBB-/CARE A3
Shiv Ganesh Industries                LT Bk Fac          CARE B         55      Revised from
                                                                                CARE B+
ISSUER NOT COOPERATING
Shree Rani Sati Overseas Pvt Ltd      LT Bk Fac          -              -       Withdrawn
Shree Rupanadham Steel Pvt Ltd        LT/ST Bk Fac       CARE BB/A4     50      Revised from
                                                                                CARE BB-/
                                                                                CARE A4
Shri Basava Textiles Ltd              LT Bk Fac          CARE           144     Assigned
                                                         BB
Sidhartha Buildhome Pvt Ltd           LT Bk Fac          CARE D         1290
ISSUER NOT COOPERATING
Signode India Ltd                     LT Bk Fac          CARE AA        850     Reaffirmed
(enhanced from 10 Crore)
Signode India Ltd                     LT/ST BkFac        CARE AA/A1+    1800    Reaffirmed
(enhanced from 160 Crore)
Sinhgad Technical Education Society   LT Bk Fac          CARE D         4262.4
ISSUER NOT COOPERATING
Souza Engineers And Contractors Pvt LtLT Bk Fac          CARE BB        40      Reaffirmed
(enhanced from Rs.2.20 crore Crore)
Sri Bhavani Wire Industries           LT Bk Fac          CARE BB-       50      Issuer not
                                                                                cooperating
Star Iris Exports Pvt Ltd             LT Bk Fac          -              -       Withdrawn
Suncity Sheets Pvt Ltd                LT Bk Fac          CARE BBB-      161.4   Revised from
                                                                                CARE BBB
ISSUER NOT COOPERATING
Suncity Sheets Pvt Ltd                LT/ST Bk Fac       CARE BBB-/A3   290     Revised from
                                                                                CARE BBB
                                                                                /CARE A3+
ISSUER NOT COOPERATING
Suncity Strips And Tubes Pvt Ltd      LT Bk Fac          CARE BBB-      245     Revised from
                                                                                CARE BBB
ISSUER NOT COOPERATING
Ultra Home Construction Pvt Ltd       LT Bk Fac          CARE D         2045.6
ISSUER NOT COOPERATING
Vcarve Renewable Energy Pvt Ltd       LT Bk Facility     CARE BB        150     Revised from
                                                                                CARE BB-
Visakha Container Terminal Pvt Ltd    LT Bk Fac          CARE A-        2741.1  Revised from
                                                                                CARE BBB+
(enhanced from Rs 157.00 crore Crore)
Visakha Container Terminal Pvt Ltd    LT/ST Bk Fac       CARE A-/A2     180     Revised from
                                                                                CARE
                                                                                BBB+/CARE A2
Yuken India Ltd                       LT Bk Fac          CARE BBB-      226.2   Reaffirmed
(reduced from 39 crore Crore)
--------------------------------------------------------------------------------------------
$: 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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