May 24, 2018 / 3:25 AM / 3 months ago

CARE ratings for Indian debt instruments-May 24

    May 24 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 23, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Accurex Biomedical Pvt Ltd            ST Bk Fac          CARE A4        30      Reaffirmed
                                                                                CARE A4
(ISSUER NOT COOPERATING)/(Enhanced from 2.05 Crore)
Arek Industries Pvt Ltd               ST Bk Fac          CARE A4        1       Assigned

Cephas Medical Pvt Ltd                ST Bk Fac          CARE A4        15      Assigned
Kunal Structure (India) Pvt Ltd       ST Bk Fac          CARE A1        300     Reaffirmed
Nnt Developers Pvt. Ltd.              ST Bk Fac          CARE A4        50      Assigned
Om Shiv Lumbers Pvt Ltd               ST Bk Fac          CARE D         35
(ISSUER NOT COOPERATING)
Punjab National Bank                  CD                 CARE A1+       600000  Reaffirmed

LONG TERM RATINGS:
-------------------
Accurex Biomedical Pvt Ltd            LT Bk Fac          CARE BB-       85.5    Reaffirmed
                                                                                CARE BB-
(ISSUER NOT COOPERATING)
Arek Industries Pvt Ltd               LT Bk Fac          CARE B+        75      Assigned
Auxilo Finserve Pvt Ltd               LT Bk Fac          CARE A-        2250    Assigned
C.D. Engineering Company              LT Bk Fac          CARE BB-       140     Assigned
Cephas Medical Pvt Ltd                LT Bk Fac          CARE BB-       35      Assigned
G. R. C Infra Pvt Ltd                 LT Bk Fac          CARE B+        500     Assigned
Ge Diesel Locomotive Pvt Ltd          LT Bk Fac          CARE A         10000   Assigned
Kunal Structure (India) Pvt Ltd       LT Bk Fac*         CARE A         1800    Reaffirmed
*Reclassified bank facilities of Rs.20 crore from Long-term to Long-term/ Short-term
Kunal Structure (India) Pvt Ltd       LT / ST Bk Fac*    CARE A/A1      8300    Reaffirmed
*Reclassified bank facilities of Rs.20 crore from Long-term to Long-term/ Short-term
Nitesh Pune Mall Pvt Ltd              NCD Issue          CARE D         2350    Revised from
                                                                                CARE B+
Nnt Developers Pvt. Ltd.              LT Bk Fac          CARE BB-       40      Assigned
Om Shiv Lumbers Pvt Ltd               LT Bk Fac          CARE D         15
(ISSUER NOT COOPERATING)
Punjab National Bank                  Basel III          CARE A+        15000   Revised from
                                      Compliant                                 CARE AA-
                                      PerpetualTier I Bonds
Punjab National Bank                  Infrastructure     CARE AA        50000   Revised from
                                      Bonds                                     CARE AA+
Punjab National Bank                  Basel III          CARE AA        20000   Revised from
                                      Compliant Tier                            CARE AA+
                                      IIBonds
Punjab National Bank                  Perpetual Bonds    CARE AA-       21630   Revised from
                                                                                CARE AA
Punjab National Bank                  Upper Tier II BondsCARE AA-       90000   Revised from
                                                                                CARE AA
Satya Srinivasa Enterprises           LT Bk Fac          CARE B         80      Assigned
Shradha Agencies Pvt Ltd              LT Bk Fac          CARE D         150     Reaffirmed
Shradha Agencies Pvt Ltd              LT Bk Fac          CARE D         130     Revised from
                                                                                CARE B
Shri Dattaprabhu Agro Industries Pvt LLT Bk Fac          CARE B+        116.2   Assigned
Silk Cotton                           LTBkFac            CARE D         75.2
(ISSUER NOT COOPERATING)
Vikas Chain And Jewellery Pvt Ltd     LT Bk Fac          CARE B+        117.5   Assigned
Yash Laxmi Solvent Pvt Ltd            LT Bk Fac          CARE BB        238.4   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 rru.data@thomsonreuters.com)
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