May 29, 2018 / 4:22 AM / 22 days ago

CARE ratings for Indian debt instruments-May 29

    May 29 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 28, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Delfina Ceramic Pvt Ltd               ST Bk Fac          CARE A4        12.5    -
Issuer not co operating; Based on best available information
Metro And Metro                       ST Bk Fac          CARE A2        110
Reaffirmed and removed from Issuer Not Cooperating ; (enhanced from 5.00 Crore)

Musale Construction                   ST Bk Fac          CARE A4        140     Assigned
Raipur Construction Pvt Ltd           ST Bk Fac          CARE A4        298.5   Assigned
Virtue Marketing Pvt Ltd              ST Bk Fac          CARE D         200
Revised from CARE A4+


LONG TERM RATINGS:
-------------------
Ashok Leyland Vehicles Ltd            LT BkFac           CARE A+        1884
Placed on credit watch with positive implications
Ashtavinayak Builders & Developers    LT Bk Fac          CARE B         75
Revised from CARE B+; Issuer Not Cooperating; on the basis of best available information
Bharti Prints                         LT Bk Fac          CARE BB-       60      -
Issuer Not Cooperating; based on best available information
Bijapur Education And Social Welfare  LT Bk Fac          CARE B+        100     Assigned
Society
Buckman Laboratories (India) Pvt Ltd  LT/ST Bk Fac       CARE BBB+/A2   120     Reaffirmed
Delfina Ceramic Pvt Ltd               LT Bk Fac          CARE BB-       48.2    -
Issuer not co operating; Based on best available information
Khedut Cotex Pvt Ltd                  Long- term Bk Fac  CARE D         84
Revised from CARE B+; Issuer Not Cooperating; Based on best available information
Maahi Milk Producer Co. Ltd           LT Bk Fac          CARE AA-       350     Assigned
Maharashtra Border Check Post Network LT Bk Fac          CARE A         10206.4 Assigned
Ltd
Mantri Infrastructure Pvt Ltd         Proposed           CARE BB+(SO)   2500    Reaffirmed
                                      Non-Convertible
                                      Bonds Issue (Series A)
Mantri Infrastructure Pvt Ltd         Proposed           CARE BB+(SO)   2500    Reaffirmed
                                      Non-Convertible
                                      Bonds Issue (Series B)
Metro And Metro                       LT/ ST Bk Fac      CARE BBB+/A2   290
Reaffirmed and removed from Issuer Not Cooperating ; (enhanced from 24.00 Crore)
Musale Construction                   LT Bk Fac          CARE BB-       60      Assigned
Orianaa Decorpack Pvt Ltd             LT Bk Fac          CARE B+        150     Assigned
P. H. Woven Sacks Pvt Ltd             LT Bk Fac          CARE B         68.5
Issuer not co operating; Based on best available information
Raipur Construction Pvt Ltd           LT Bk Fac          CARE BB        1.5     Assigned
Rawassa Construction                  LT/ST Bk Fac       CARE BB/A4     170     Assigned
Shridhar Industries Katni Pvt Ltd     LT Bk Fac          CARE B+        102.5   Assigned
Svatantra Microfin Pvt Ltd            Subordinate Debt   CARE A-        750     Assigned
Tata Steel Ltd                        Debentures-NCD     CARE AA        6509
Tata Steel Ltd                        Debentures-NCD     CARE AA        25000
Tata Steel Ltd                        Debentures-NCD     CARE AA        30000
Tata Steel Ltd                        FB - LT-TL         CARE AA        228000
Tata Steel Ltd                        Debentures-NCD     CARE AA        10000
Tata Steel Ltd                        Bonds-Perpetual    CARE AA-       12750
                                      Bonds
Tata Steel Ltd                        Bonds-Perpetual    CARE AA-       10000
                                      Bonds
Virtue Marketing Pvt Ltd              LT Bk Fac          CARE D         150
Revised from CARE BB+
--------------------------------------------------------------------------------------------
$: 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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