May 18, 2018 / 6:32 AM / in 3 months

CARE ratings for Indian debt instruments-May 18

    May 18 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 17, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Capital Photo Service Pvt Ltd         ST Bk Fac          CARE A4+       10      Assigned
Earth Stahl & Alloys Pvt Ltd          ST Bk Fac          -              -       Withdrawn
Komoline Aerospace Ltd                ST Bk Fac          CARE A4        70      -
(Placed on Credit watch with NegativeImplications)
P. Manickam & Co                      ST Bk Fac          CARE A4+       100     Assigned

Reliance Cement Company Pvt Ltd       ST BkFac           CARE A1+       2000    Revised from
                                                                                CARE A1
Reliance Industries Ltd               CP                 CARE A1+       345000  Reaffirmed
(enhanced fromRs.30,000 crore Crore)
Renew Power Ltd (Erstwhile Renew PowerCP                 CARE A1+       5250    Reaffirmed
S.R. Precision Components Pvt Ltd     ST Bk Fac          CARE D         22.5    Revised from
                                                                                CARE A4
(ISSUER NOT COOPERATING)
Seam Industries Ltd                   ST Bk Fac          CARE D         300     Revised from
                                                                                CARE A4
Ventures Pvt Ltd)
(enhanced from Rs.325 crore Crore)
Sanvi Spinning Mill Pvt Ltd           ST BkFac           CARE A4        27.5    Reaffirmed
(enhanced from 2.25 Crore)
Vbs Textiles Pvt Ltd                  ST Bk Fac          CARE A4        42.5    Reaffirmed
Vipin Shah & Associates               ST Bk Fac          CARE A4        50      Assigned


LONG TERM RATINGS:
-------------------
Apex Realty Pvt Ltd                   LT Bk Fac – TL     -              -       Withdrawn
Capital Photo Service Pvt Ltd         LT Bk Fac          CARE BB+       140     Assigned
Earth Stahl & Alloys Pvt Ltd          LT Bk Fac          -              -       Withdrawn
Komoline Aerospace Ltd                LT Bk Fac          CARE BB-       30      -
Placed on Credit watch with NegativeImplications
Maison De Couture Fabrics Pvt Ltd     LT Bk Fac (TL)     CARE D         117     Revised from
                                                                                CARE BBB-
Maison De Couture Fabrics Pvt Ltd     Long -term Bk Fac  CARE D         288.2   Revised from
                                      (CC)                                      CARE BBB-
Nitesh Pune Mall Pvt Ltd              NCD                CARE B+        2350    -
(ISSUER NOT COOPERATING),CARE has sought information from the issuer and debenture trustee on
repayment but no confirmation on the same has been received till date. 
Nitesh Pune Mall Pvt. Ltd.            NCD                CARE B+        2350    -
(ISSUER NOT COOPERATING),CARE has sought information from the issuer and debenture trustee on
repayment but no confirmation on the same has been received till date. 
Nrss Xxxvi Transmission Ltd           LT Bk Fac          CARE BBB-      3060    Assigned
P. Manickam & Co                      LT Bk Fac          CARE BB+       170     Assigned
P. Manickam & Co                      LT/ST BkFac        CARE BB+ /CARE 30      Assigned
                                                         A4+
Paradip East Quay Coal Terminal Pvt   LT Bk Fac – TL     CARE A- (SO)   -       Assigned
Ltd
(Under credit watch with developing implications)
Paradip East Quay Coal Terminal Pvt   LT Bk Fac –        CARE A- (SO)   -       Assigned
Ltd                                   Performance
                                      Guarantee
Raheja Icon Entertainment Pvt Ltd     NCD issue          CARE B (SO)    680     -
(ISSUER NOT COOPERATING),CARE has sought information from the issuer and debenture trustee on
repayment but no confirmation on the same has been received till date. 
Raheja Icon Entertainment Pvt Ltd     NCD issue          CARE B (SO)    680     -
(ISSUER NOT COOPERATING),CARE has sought information from the issuer and debenture trustee on
repayment but no confirmation on the same has been received till date. 
Reliance Cement Company Pvt Ltd       LT BkFac           CARE A+        22898.3 Revised from
                                                                                CARE A
(reduced from 2,341.37 Crore)
Reliance Cement Company Pvt Ltd       LT Bk Fac@         CARE AA (SO)   2900    Reaffirmed
@Based on credit enhancement in the form of Unconditional & Irrevocable corporate guarantee from
Birla Corporation Limited
S.R. Precision Components Pvt Ltd     LT Bk Fac          CARE D         46.8    Revised from
                                                                                CARE B+
(ISSUER NOT COOPERATING)
Sanvi Spinning Mill Pvt Ltd           LT Bk Fac          CARE BB        685.4   Reaffirmed
(enhanced from 33.22 Crore)
Sanvi Spinning Mill Pvt Ltd           LT/ST BkFac        CARE BB /CARE  65      Reaffirmed
                                                         A4
(enhanced from 5.00 Crore)
Seam Industries Ltd                   LT Bk Fac          CARE D         383.7   Revised from
                                                                                CARE BB
Shreeraj Roto India Ltd               LT Bk Fac          CARE BB-       63.2    Assigned
Sintex Industries Ltd                 NCD issue          CARE BBB       5000    -
(ISSUER NOT COOPERATING)
Subhash Poultry Complex               LT Bk Fac          CARE B+        60      Assigned
The Catholic Syrian Bank Ltd          Lower Tier II      CARE BBB-      418     Continues on
                                      Bonds                                     credit watch
                                                                                with positive
implications
(Rupees Forty One crore and Eighty lakh only Crore)
Tissori India Fabrics Pvt Ltd         LT Bk Fac (TL)     CARE D         175.1   Revised from
                                                                                CARE BBB-
Tissori India Fabrics Pvt Ltd         LT Bk Fac (CC)     CARE D         325.1   Revised from
                                                                                CARE BBB-
Vbs Textiles Pvt Ltd                  LT Bk Fac          CARE B+        440     Reaffirmed
(enhanced from Rs.10.75 Crore)
Vipin Shah & Associates               LT Bk Fac          CARE BB-       30      Assigned
Worldstar Fabrics Llp                 Long -term Bk Fac  CARE D         422.5   Revised from
                                      (CC)                                      CARE BBB-
Worsted Overseas Trading Llp          LT Bk Fac (TL)     CARE D         118.5   Revised from
                                                                                CARE BBB-
Worsted Overseas Trading Llp          Long -term Bk Fac  CARE D         286.7   Revised from
                                      (CC)                                      CARE BBB-
Zephyr Fabric Trading Llp             Long -term Bk Fac  CARE D         250     Revised from
                                      (CC)                                      CARE BBB-
--------------------------------------------------------------------------------------------
$: 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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