May 17, 2018 / 4:40 AM / 9 months ago

CARE ratings for Indian debt instruments-May 17

    May 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 16, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
-------                               ----------         ------        -------  ---------
Chandrashekher Industries             ST Bk Fac          CARE A4        100     Assigned
J.B.R. Technologies Ltd               ST Bk Fac          CARE A4        30      Assigned
Nurneher Agro Products Pvt. Ltd.      ST Bk Fac          CARE A4        1.9     Assigned
Onkar International Pvt Ltd           ST Bk Fac          CARE A4        10      Assigned

Sunshine Tiles Company Pvt Ltd        ST Bk Fac          CARE A2+       515.2   Reaffirmed
(enhanced from Rs.44.72 Crore)

Chandrashekher Industries             LT Bk Fac          CARE BB+       20      Assigned
Dharmadev Infrastructure Ltd          LT Bk Fac          -              -       Withdrawn
Ess Kay Fincorp Ltd                   Proposed Principal CARE PP-MLD    250     Assigned
                                      Protected-Market   BBB+
                                      Linked Debenture
J.B.R. Technologies Ltd               LT Bk Fac          CARE BB        45.2    Assigned
Nurneher Agro Products Pvt. Ltd.      LT Bk Fac          CARE B+        68.3    Assigned
Onkar International Pvt Ltd           LT/ST BkFac        CARE BB-/A4    180     Assigned
Ridhi Sidhi Pulses                    LT BkFac           CARE D         76.2    -
*Issuer did not cooperate; Based on best available information
Shree Chhatrapati Sahakari Sakhar     LT Fac             CARE BB-       450     Assigned
Karkhana Ltd
Sky Industries Ltd                    LT Bk Fac          CARE BB        85      Assigned
Sky Industries Ltd                    LT/ST Bk Fac       CARE BB/A4+    50      Assigned
Sunshine Tiles Company Pvt Ltd        LT Bk Fac          CARE A-        2067.5  Reaffirmed
(enhanced from Rs.133.72 Crore)
T. C. Motors Pvt Ltd                  LT Bk Fac          CARE BB-       255.7   Assigned
$: 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wd -Rating Stands Withdrawn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
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