May 28, 2018 / 4:01 AM / 3 months ago

CARE ratings for Indian debt instruments-May 28

    May 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 25, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Del Trade International Pvt Ltd       ST Bk Fac          CARE A4+       340     Assigned
Essar Oil Ltd                         ST Bk Fac - Non-FBLCARE A1+       122490  Reaffirmed
(enhanced from 10,900 Crore)
Essar Oil Ltd                         ST Bk Fac -Fund    CARE A1+       20000   Assigned
                                      Based - Bill
                                      Discounting
Koley Multipurpose Himghar Pvt Ltd    ST BkFacility      CARE A4        2       Reaffirmed
Sanginita Chemicals Ltd               ST Bk Fac          CARE A3        22.5    Reaffirmed
Sharp Enterprises                     ST Bk Fac          CARE A4        250     Raffirmed
(Revised from Issuer Not Cooperating)
Spacetech Equipment And Structurals   ST Bk Fac          CARE A4        70      Reaffirmed
Pvt Ltd

LONG TERM RATINGS:
-------------------
All Well Hospital And Research        LT Bk Fac          CARE BB-       75      Reaffirmed
Institute Pvt Ltd
Central Bank Of India                 Lower Tier II Bond -              -       Withdrawn
                                      – Series XIII
Chandra Engineers                     LT Bk Fac          CARE BB-       64.9    Assigned
Chandra Engineers                     LT /ST Bk Fac      CARE BB-/A4    55.1    Assigned
Del Trade International Pvt Ltd       LT Bk Fac          CARE BB+       120     Assigned
Ess Ell Cables Company                LT Bk Fac          CARE BB        2.7     Assigned
Ess Ell Cables Company                Long/ST Bk Fac     CARE BB/A4     120     Assigned
Ess Kay Fincorp Ltd                   NCD (Secured NCD)  CARE BBB+      1500    Assigned
                                      (Proposed)
Essar Oil Ltd                         LT Bk Fac - TL     CARE AA        150140  Revised from
                                                                                CARE AA-
(enhanced from 14,079 Crore)
Essar Oil Ltd                         LT Bk Fac - FBL    CARE AA        20000   Revised from
                                                                                CARE AA-
(enhanced from 1,255 Crore)
Il&Fs Energy Development Co. Ltd      Proposed LT-       CARE AA+ (SO)  1950    Reaffirmed
                                      NCDs-Tranche-I
Il&Fs Energy Development Co. Ltd      Proposed LT-       CARE AA+ (SO)  3050    Reaffirmed
                                      NCDs-Tranche-II
Koley Multipurpose Himghar Pvt Ltd    LT BkFacility      CARE B+        121.9   Reaffirmed
New Baba Rice Mill                    LT Bk Fac          CARE B+        58      Assigned
Prem Jain Ispat Udyog Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Sanginita Chemicals Ltd               LT Bk Fac          CARE BBB-      4.7     Revised from
                                                                                CARE BBB-
(Reduced from Rs.0.70 crore Crore)
Sanginita Chemicals Ltd               LT/ ST Bk Fac      CARE BBB-/A3   260     Revised from
                                                                                CARE BBB
(enhanced from Rs.25.00 crore Crore)
Shivam Cotton Industries              LT BkFac           CARE B+        129.9   Assigned
Spacetech Equipment And Structurals   LT Bk Fac          CARE B         32.5    Reaffirmed
Pvt Ltd
Spacetech Equipment And Structurals   LT/ ST Bk Fac      CARE B/A4      47.5    Reaffirmed
Pvt Ltd                               (Proposed)
Ssg Infratech Pvt Ltd                 LT Bk Fac          CARE BB+       350     Assigned
Ssg Infratech Pvt Ltd                 LT/ ST Bk Fac      CARE BB+/A4+   625     Assigned
Vadinar Oil Terminal Ltd              LT Bk Fac          CARE AA        34910   Revised from
                                                                                CARE AA-
Vadinar Power Co. Ltd                 LT Bk Fac          CARE AA        14570   Revised from
                                                                                CARE AA-
--------------------------------------------------------------------------------------------
$: 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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