March 14, 2012 / 5:42 AM / 6 years 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, 2012.	
	
COMPANY                             INSTRUMENT           RATING        AMOUNT      MOVEMENT	
                                                                       (RS.MLN)	
-------                             ----------           ------        -------     ---------	
SHORT TERM RATINGS:	
-------------------	
Asian Hotels (North) Ltd.           ST NCD              CARE A1         -          Withdrawn	
Associated Dyestuff Pvt Ltd.        ST Bk Fac           CARE A4         144.5      Reaffirmed	
Enhanced from Rs.11.75 crore	
Aurionpro Solutions Ltd.            ST Bk Fac           CARE A3+        450        Reaffirmed	
	
enhanced from Rs.35.00 crore	
Bijnor Steel & Alloys Pvt Ltd       ST Bk Fac           CARE A4+        10         Reaffirmed	
Elica Vitrified Pvt Ltd.            ST Bk Fac           CARE A4         10         Assigned	
Ethl Communications Holdings Ltd    ST NCD              CARE A1+ (SO)   56000      Withdrawn	
First Leasing Company Of India Ltd  CP (Standalone)     CARE A1+        1000       Assigned	
First Leasing Company Of India Ltd  ST NCD              CARE A1+        -          Withdrawn	
Greenesol Power Systems Pvt Ltd     Long/ST Bk Fac      CARE A3+        1500       Reaffirmed	
Madhya Pradesh Cupro Metals Pvt Ltd ST Bk Fac           CARE A4+        33.3       Reaffirmed	
Mmtc Ltd                            ST Bk Fac           CARE A1+        106480     Reaffirmed	
Mmtc Ltd                            CP*                 PR1+            -          Withdrawn	
*within working capital	
Mmtc Ltd                            CP**                PR1+            -          Withdrawn	
**outside working capital	
Ozon Vitrified Pvt Ltd              ST Bk Fac           CARE A4         18         Assigned	
Prasad Multi Services Pvt Ltd.      ST Bk Fac           CARE A4         30         Reaffirmed	
Raymond Zambaiti Ltd.               ST Bk Fac           CARE A1         300        Reaffirmed	
Sabari Alloys & Metals India Pvt    ST Bk Fac           CARE A4         90         Reaffirmed	
Ltd.	
Sks Ispat And Power Ltd             CP issue            CARE A1         500        Withdrawn	
Surya Vikas Plywood Ltd             ST Bk Fac           CARE A4         10         Reaffirmed	
Treasure World Construction Pvt Ltd ST Bk Fac           CARE A4         150        Withdrawn	
Treasure World Construction Pvt Ltd ST Bk Fac           CARE A4         100        Suspended	
Yuken India Ltd                     ST Bk Fac           CARE A3+        50         Reaffirmed	
	
MEDIUM TERM RATINGS:	
-------------------	
Indo Pacific Housing Finance Ltd    Fixed Deposits      CARE BBB%       10                      
   	
                                    Programme                                              	
	
LONG TERM RATINGS:	
-------------------	
Abg Haldia Bulk Terminals Pvt. Ltd. LT Bk Fac           CARE BBB- (SO)  100*       Reaffirmed	
*includes Non-fund based sub limit of Rs.90.40 crore	
Abg Haldia Bulk Terminals Pvt. Ltd. Long/ST Bk Fac      CARE BBB-       22         Reaffirmed	
                                                        (SO)/CARE A3	
                                                        (SO)	
Abg-Lda Bulk Handling Pvt. Ltd.     LT Bk Fac           CARE BBB-       534.5      Reaffirmed	
Abg-Lda Bulk Handling Pvt. Ltd.     Long/ST Bk Fac      CARE BBB-       200        Reaffirmed	
Associated Dyestuff Pvt Ltd.        LT Bk Fac           CARE BB         32.5       Reaffirmed	
Reduced from Rs.7.00 crore	
Aurionpro Solutions Ltd.            LT Bk Fac           CARE BBB        747.8      Reaffirmed	
enhanced from Rs.51.69 crore	
Bholaram Education Society          LT Bk Fac           CARE BB-        183.8      Revised from	
                                                                                   CARE B+	
Bijnor Steel & Alloys Pvt Ltd       LT Bk Fac           CARE BB+        118.9      Reaffirmed	
Brindavan Hydropower Pvt. Ltd.      LT Bk Fac (TL)      CARE BBB-(SO)   810        Revised from	
                                                                                   CARE BBB+	
                                                                                   (SO)	
Btm Corp Ltd                        LT Bk Fac           CARE BB         120        Reaffirmed	
Deepak Nexgen Feeds Pvt. Ltd.       LT Bk Fac           CARE B+         236        Assigned	
Elica Vitrified Pvt Ltd.            LT Bk Fac           CARE BB         202.1      Reaffirmed	
Frontier Lifeline Pvt Ltd.          LT Bk Fac           CARE BB+        900        Reaffirmed	
Greenesol Power Systems Pvt Ltd     LT Bk Fac           CARE BBB+       100        Reaffirmed	
Il&Fs Financial Services Ltd        NCD                 CARE AAA        1000       Reaffirmed	
Il&Fs Financial Services Ltd        Subordinated debt   CARE AAA        4000       Reaffirmed	
Madhya Pradesh Cupro Metals Pvt Ltd LT Bk Fac           CARE BB+        67.8       Reaffirmed	
Manu Yantralaya Pvt Ltd.            LT Bk Fac           CARE BBB-       61.9       Reaffirmed	
Mmtc Ltd                            LT Bk Fac           CARE AA         8550       Reaffirmed	
Ozon Vitrified Pvt Ltd              LT Bk Fac           CARE BB         202.8      Reaffirmed	
Prasad Multi Services Pvt Ltd.      LT Bk Fac           CARE BB+        263.1      Reaffirmed	
Raymond Zambaiti Ltd.               LT Bk Fac           CARE A-         1181.1     Reaffirmed	
Sabari Alloys & Metals India Pvt    LT Bk Fac           CARE B+         100        Reaffirmed	
Ltd.	
Sharda Construction & Corporation   LT Bk Fac (fundbased CARE BBB%      220                     	
Pvt Ltd                                                                                    	
Sharda Construction & Corporation   LT Bk Fac (non-fund CARE BBB%       350                     
 	
Pvt Ltd                             based)                                                	
Surya Vikas Plywood Ltd             LT Bk Fac           CARE B+         177.6      Reaffirmed	
Tibrewala Electricals               LT Bk Fac           CARE BBB-       62.5       Reaffirmed	
Tikaula Sugar Mills Ltd             LT Bk Fac           CARE BB         770.6      Reaffirmed	
Treasure World Construction Pvt Ltd LT Bk Fac           CARE BB         300        Withdrawn	
Treasure World Construction Pvt Ltd LT Bk Fac           CARE BB         468        Suspended	
Tuticorin Coal Terminal Pvt Ltd.    LT Bk Fac           CARE BBB- (SO)  2810       Reaffirmed	
Tuticorin Coal Terminal Pvt Ltd.    ST Bk Fac           CARE BBB-       470        Reaffirmed	
                                                        (SO)/CARE A3	
                                                        (SO)	
Umiya Flexifoam Pvt Ltd             LT Bk Fac           CARE BB         12.5       Reaffirmed	
Umiya Flexifoam Pvt Ltd             ST Bk Fac           CARE BB/CARE    125        Reaffirmed	
                                                        A4+	
West Quay Multiport Pvt Ltd.        LT Bk Fac           CARE BBB- (SO)  1165       Reaffirmed	
West Quay Multiport Pvt Ltd.        ST Bk Fac           CARE BBB-       250        Reaffirmed	
                                                        (SO)/CARE A3	
                                                        (SO)	
Yuken India Ltd                     LT Bk Fac/TL        CARE BBB+       96.8       Reaffirmed	
reduced from 12.00	
Yuken India Ltd                     LT Bk Fac/CC        CARE BBB+       180        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, E-mail at rru.data@reuters.com)

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