November 10, 2017 / 7:33 AM / 9 days ago

CARE ratings for Indian debt instruments-Nov 10

    Nov 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 9, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bindals Papers Mills Ltd              ST Bk Fac          CARE A4+       1212    Revised from
                                                                                CARE A4
Escorts Heart Institute & Research    ST Bk Fac          CARE A1+       250     Continues on
Centre Ltd                                                                      credit watch
                                                                                with developing
                                                                                implications
Fortis Healthcare Ltd.                ST Bk Fac          CARE A1+       560     Continues on
                                                                                credit watch
                                                                                with developing
                                                                                implications
 (reduced from Rs.75 crore)
Fortis Healthcare Ltd.                CP                 CARE A1+       6000    Continues on
                                                                                credit watch
                                                                                with developing
                                                                                implications
Glazetech Industries Pvt Ltd          ST Bk Fac          -              -       Withdrawn
Itd Cementation India Ltd.            CP (CP) issue*     CARE A1        2000    Reaffirmed
*Carved out of the sanctioned working capital limits of the company
Jai Ganesh Ispat & Ferro Alloys Pvt   ST Bk Fac          CARE A4+       11.8    Reaffirmed
Ltd
Lords Infracon Pvt Ltd                ST Bk Fac          CARE A4        60      Reaffirmed
(reduced from 8.00 CR)
Multivista Global Pvt Ltd             ST Bk Fac          CARE A3        150     Reaffirmed
Raksan Transformers Pvt Ltd           ST Bk Fac          CARE A4        45      Assigned
Sanford Vitrified Pvt Ltd             ST Bk Fac          CARE A3        41.8    Assigned
Shankar Packagings Ltd                ST Bk Fac          CARE A2        40      -
* (ISSUER NOT COOPERATING)
Shivam Hospital                       ST Bk Fac          CARE A4+       75      Reaffirmed
Tropical Agrosystem (India) Pvt Ltd   ST Bk Fac          CARE A3+       1700    Reaffirmed
(enhanced from 90 CR)
Walwhan Renewable Energy Ltd          Proposed CP issue  CARE A1+       12000   Assigned
Wellknown Polyester Ltd               ST Bk Fac          CARE A1        8000    Reaffirmed
Wellknown Polyester Ltd               CP (CP) Issue*     CARE A1        2000    Reaffirmed

LONG TERM RATINGS:
-------------------
Abt Investments (India) Pvt Ltd       LT NCDs            CARE B         1000    Reaffirmed
Avanse Financial Services Ltd         NCD                CARE AA+(SO)   1200    Reaffirmed
Avanse Financial Services Ltd         NCD                CARE AA+(SO)   250     Final Rating
Avanse Financial Services Ltd         NCD                CARE AA+(SO)   1550    Reaffirmed
Bindals Papers Mills Ltd              LT Bk Fac          CARE BB+       2741.5  Revised from
                                                                                CARE BB-
(Reduced from Rs.321.87 crore)
Bsc-C&C Kurali Toll Road Ltd          LT Bk Fac          CARE D         2279.2  Revised from
                                                                                CARE B+
Chittorgarh Kota Tollway Pvt Ltd      LT Bk Fac          CARE A /CARE A1200     -
* (ISSUER NOT COOPERATING)
Escorts Heart Institute & Research    LT Bk Fac          CARE A+        280     Continues on
Centre Ltd                                                                      credit watch
                                                                                with developing
                                                                                implications
Euro Pratik Ispat Pvt Ltd             LT Bk Fac          CARE BB-       90      Assigned
Finman Finance India Pvt Ltd          LT Bk Fac          CARE BB-       69.9    Reaffirmed
(reduced from 7.16 CR)
Fortis Healthcare Ltd.                LT Bk Fac          CARE A+        1440    Continues on
                                                                                credit watch
                                                                                with developing
                                                                                implications
 (increased from Rs.55 crore)
Gaurishanker Electro Castings Pvt Ltd LT Bk Fac          CARE D         82.6    -
(ISSUER NOT COOPERATING)
Hanuman Cotton Industries             LT Bk Fac          CARE D         80.1    Revised from
                                                                                CARE B+
* (ISSUER NOT COOPERATING)
Hygen Packs                           LT Bk Fac          CARE B+        53.8    Assigned
Itd Cementation India Ltd.            Bk Fac- FBLT- CC   CARE A-        8000    Reaffirmed
Itd Cementation India Ltd.            Bk Fac- FBLT- TL   CARE A-        1000    Reaffirmed
Itd Cementation India Ltd.            Bk Fac- Non fund   CARE A- /CARE  42500   Reaffirmed
                                      based- LT/ST- LC/BGA1
Jai Ganesh Ispat & Ferro Alloys Pvt   LT Bk Fac-CC       CARE BB+       82.5    Reaffirmed
Ltd
Jai Ganesh Ispat & Ferro Alloys Pvt   LT Bk              CARE BB+       155     Reaffirmed
Ltd                                   Fac Electronic
                                      Dealer Financing
Jai Mata Di Food Processing Pvt. Ltd. LT Bk Fac          CARE B         106     Reaffirmed
(enhanced from 9.90 CR)
Lords Infracon Pvt Ltd                LT Bk Fac          CARE B+        10      Revised from
                                                                                CARE B
Maa Jaychandi Multipurpose Cold StorageLT Bk Fac          CARE B         64      Reaffirmed
Pvt Ltd
(reduced from 6.88 CR)
Maheshwari Industries                 LT Bk Fac          CARE B         70      Assigned
Multivista Global Pvt Ltd             LT Bk Fac          CARE BBB-      184.8   Reaffirmed
(reduced from 22.09 CR)
Pragati Coatings Pvt Ltd              LT Bk Fac          CARE BB-       95      Assigned
Raksan Transformers Pvt Ltd           LT Bk Fac          CARE B+        70      Assigned
Rice Lake Weighing Systems India Ltd  LT Bk Fac          CARE BBB-      90      Reaffirmed
Rice Lake Weighing Systems India Ltd  LT/ST Bk Fac       CARE BBB-      200     Reaffirmed
                                                         /CARE A3
Sanford Vitrified Pvt Ltd             LT Bk Fac          CARE BBB-      172.4   Assigned
Sanford Vitrified Pvt Ltd             LT/ST Bk Fac       CARE BBB-      250     Reaffirmed
                                                         /CARE A3
(enhanced from Rs.14 crore)
Shankar Packagings Ltd                LT Bk Fac          CARE BBB+      110     -
* (ISSUER NOT COOPERATING)
Shivam Hospital                       LT Bk Fac          CARE BB+       1.3     Reaffirmed
South India Finvest Pvt Ltd           LT Bk Fac          CARE B         250     Assigned
Surgicoinmedequip Pvt Ltd             LT Bk Fac          CARE D         70      -
(ISSUER NOT COOPERATING)
Synergy Power Equipment Pvt. Ltd.     LT Bk Fac          CARE BB-       94.2    Reaffirmed
(reduced from 9.59 CR)
The Go Green Build Tech Pvt Ltd       LT Bk Fac          CARE D         95.6    -
(ISSUER NOT COOPERATING)
Tropical Agrosystem (India) Pvt Ltd   LT Bk Fac          CARE BBB+      700     Reaffirmed
(reduced from 74.61 CR)
U. C. Jain Foundation Trust           LT Bk Fac          CARE D         90      -
(ISSUER NOT COOPERATING)
Wasan Hospitality Pvt Ltd             LT Bk Fac          -              -       Withdrawn
Wellknown Polyester Ltd               LT Bk Fac          CARE A+        15922.9 Reaffirmed
Wellknown Polyester Ltd               Proposed NCD       CARE A+        500     Assigned
Wind World Wind Farms Hindustan Pvt   LT Bk Fac          CARE BB        3000    -
Ltd
(ISSUER NOT COOPERATING)
--------------------------------------------------------------------------------------------
$: 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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