May 11, 2018 / 3:27 AM / 15 days ago

CARE ratings for Indian debt instruments-May 11

    May 11 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 10, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bhasin & Company                      ST Bk Fac          CARE A4        100     Assigned
Dish Tv India Ltd                     ST Bk Fac          CARE A1+       1900
Continues on credit watch ; (enhanced from 90.00 Crore)
Kamala Board Box Pvt Ltd              ST Bk Fac          CARE A4        2.1     Assigned

Paramount Ltd                         ST Bk Fac          CARE A3+       500     Assigned
Surya Roshni Ltd                      CP                 CARE A1+ (SO)  2950    Reaffirmed
(enhanced from 270.00 Crore)
Surya Roshni Ltd                      CP                 CARE A1+ (SO)  350
Continues to be on credit watch with developing implications
Surya Roshni Ltd                      CP                 Prov.CARE A1   200
                                                         (SO)
Revised from Final to Provisional
Talwalkars Lifestyle Ltd              Proposed ST NCD    CARE A1+       250     Assigned
Walzen Strips Pvt. Ltd                ST Bk Fac          CARE A4+       63.5    Reaffirmed
(enhanced from 5.25 Crore)

LONG TERM RATINGS:
-------------------
Bhasin & Company                      LT Bk Fac          CARE BB-       80      Assigned
Dish Infra Services Pvt. Ltd          LT Non-Fund based  -              -       Withdrawn
                                      Bk Fac (LC)
Backed by unconditional and irrevocable corporate guarantee by Dish TV India Ltd
Dish Infra Services Pvt. Ltd          LT Fund based Bk   CARE A+(SO)    400
                                      Fac (CC)
Continues on Credit Watch ; Backed by unconditional and irrevocable corporate guarantee by Dish
TV India Ltd
Dish Infra Services Pvt. Ltd          Non – Convertible  CARE A+(SO)    1000
                                      Debentures
Continues on Credit Watch ; Backed by unconditional and irrevocable corporate guarantee by Dish
TV India Ltd
Dish Infra Services Pvt. Ltd          Non – Convertible  CARE A+(SO)    2000
                                      Debentures
Continues on Credit Watch ; Backed by unconditional and irrevocable corporate guarantee by Dish
TV India Ltd
Dish Infra Services Pvt. Ltd          LT/ST Bk Fac       CARE A+(SO)/   20835.3
                                                         A1+(SO)
Continues on Credit Watch ; Backed by unconditional and irrevocable corporate guarantee by Dish
TV India Ltd
Hinduja Housing Finance Ltd           LT Bk Fac          CARE AA-       12500   Reaffirmed
(Enhanced from Rs.455 Crore)
Hinduja Housing Finance Ltd           LT/ST Bk Fac       CARE AA-/ A1+  1550    Reaffirmed
(Enhanced from Rs.105 Crore)
Kamala Board Box Pvt Ltd              LT Bk Fac          CARE B+        97      Assigned
Paramount Ltd                         LT / ST Bk Fac     CARE BBB/ A3+  2000    Assigned
Pragya Wood Pvt. Ltd.                 LT Bk Fac          CARE BB-       50      Assigned
Radhakanta Himghar Pvt Ltd            LT Bk Fac          CARE B+        100.5   Reaffirmed
(enhanced from 5.05 Crore)
Raj Overseas                          LT Bk Fac          CARE BB-       72      Assigned
Shree Gayatri Kasth Udhyog            LT Bk Fac          CARE BB-       70      Assigned
Talwalkars Better Value Fitness Ltd   Proposed NCD       -              -       Withdrawn
Talwalkars Better Value Fitness Ltd   Proposed CP        -              -       Withdrawn
Talwalkars Lifestyle Ltd              Proposed LT NCD    CARE AA        250     Assigned
Walzen Strips Pvt. Ltd                LT Bk Fac          CARE BB        185     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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