November 13, 2017 / 10:34 AM / 8 days ago

CARE ratings for Indian debt instruments-Nov 13

    Nov 13 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 10, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Airan Steel And Power Pvt Ltd         ST Bk Fac          CARE A4        5       Assigned
Captain Polyplast Ltd                 ST Bk Fac          CARE A3        465     Reaffirmed
Cri Ltd                               ST Bk Fac *                               Withdrawn
*change in classification from short-term to long-term
Captain Polyplast Ltd                 ST Bk Fac          CARE A3        465     Reaffirmed
Eros International Media Ltd          ST Bk Fac          CARE A2        1870    Revised from
                                                                                CARE A1
Haldia Petrochemicals Ltd             ST Bk Fac          CARE A1+       28490   Revised from
                                                                                CARE A1
Issuer not co-operating
Idea Cellular Ltd                     CP (CP) Issue      CARE A1+       20000   Continues on
                                                                                Credit Watch
                                                                                with Developing
Implications
L&T Infrastructure Finance Co. Ltd    CP                 CARE A1+       110000  Reaffirmed
Mega Process Technology Pvt Ltd       ST Bk Fac          CARE A4        137     Assigned
New Saraswati House (India) Pvt Ltd   ST Bk Fac          CARE A1+       60      Assigned
Nickunj Edm Wires & Consumables Pvt Ltd LT/ST Bk Fac-    CARE A4+       40      Reaffirmed
                                      Non-FB
Nickunjeximp Enterprises Pvt Ltd      ST Bk Fac          CARE A4+       130     Reaffirmed
Rajluxmi Enterprises Pvt Ltd          ST Bk Fac          CARE A4        30      Reaffirmed
Rama Arts & Exports                   ST Bk Fac          CARE A4        2       Reaffirmed
Shivamautotech Ltd                    ST Bk Fac          CARE A2+       370     Reaffirmed
Sovereign Pharma Pvt Ltd              ST Bk Fac          CARE A2+       20      Assigned
Sri Chitra Agri Exports               ST Bk Fac          CARE A4        145     Assigned
Soham World Trade Pvt Ltd             ST Bk Fac                                 Withdrawn
Kamakhya Shivalik Enterprises Pvt Ltd ST Bk Fac                                 Withdrawn
Sara Spintex India Pvt Ltd            ST Bk Fac          CARE D         20      Revised from
                                                                                CARE D
Issuer not co-operatingSuditi Industries Ltd                 ST Bk Fac          CARE A3       
20      Reaffirmed
Tata Teleservices (Maharashtra) Ltd   Bk Fac-NonFund     CARE A1+       10050   Revised from
                                      Based - ST-BG                             CARE A2+
Tata Teleservices (Maharashtra) Ltd   Bk Fac-Fund Based  CARE A1+       6000    Revised from
                                      - ST-TL                                   CARE A2+
Tata Teleservices Ltd                 Non-FB Shortterm   CARE A1+       15850   Revised from
                                      Bk Fac – BG/LC                            CARE A2+
Tata Teleservices Ltd                 CP /Shortterm Debt CARE A1+       40000   Revised from
                                                                                CARE A2+
Vikas Publishing House Pvt Ltd        ST Bk Fac          CARE A1+       120     Assigned
Whitefield Spintex (India) Pvt Ltd    ST Bk Fac          CARE A4        13.5    Assigned


LONG TERM RATINGS:
-------------------
Aditya Auto Industries                LT Bk Fac          CARE B+        88      Revised from
                                                                                CARE BB-
Airan Steel And Power Pvt Ltd         LT Bk Fac          CARE BB-       60      Assigned
Airan Steel And Power Pvt Ltd         LT/ST Bk Fac       CARE BB-/CARE  25      Assigned
                                                         A4
Bajaj Superpack India Pvt Ltd         LT Bk Fac          CARE BB-       80      Assigned
Captain Polyplast Ltd                 LT Bk Fac          CARE BB-/CARE  215.4   Reaffirmed
                                                         A4
Captain Polyplast Ltd                 LT Bk Fac          CARE BBB-      215.4   Reaffirmed
Cri Ltd                               LT Bk Fac *        CARE BBB+      183.8   Revised from
                                                                                CARE BBB
*change in classification from short-term to long-term
Cri Ltd                               Long /ST Bk Fac    CARE BBB+/CARE 460     Revised from
                                                         A3+                    CARE BBB/CARE
                                                                                A3
Darpan Jewels (Gujarat) Llp           LT /ST Bk Fac      CARE BBB-/CARE 100     Revised from
                                                         A3                     CARE BB+/
                                                                                CARE A4+
Dhanuka Soya Pvt Ltd                  LT Bk Fac          CARE BBB-      110     Revised from
                                                                                CARE BB+
Dhruv Wellness Ltd                    LT Bk Facility     CARE BB        150     Assigned
Earthcon Buildtech Pvt Ltd            LT Bk Fac          CARE D         90      Revised from
                                                                                CARE B+
Earthcon Constructions Pvt Ltd        LT Bk Fac          CARE D         700     Revised from
                                                                                CARE B+
Eros International Media Ltd          LT Bk Fac          CARE A-        5630    Revised from
                                                                                CARE A+
Eros International Media Ltd          Proposed CP/ ST                           Withdrawn
                                      debt*
*the rating has been withdrawn since the company does not intend to avail these facilities
Eros International Media Ltd          Proposed NCDs*                            Withdrawn
*the rating has been withdrawn since the company does not intend to avail these facilities
Haldia Petrochemicals Ltd             LT Bk Fac          CARE A+        39690.1 Revised from
                                                                                CARE A-
Issuer not co-operating
Haldia Petrochemicals Ltd             Long/ST Bk Fac     CARE A+/CARE   15010   Revised from
                                                         A1+                    CARE A-/CARE
                                                                                A1
Issuer not co-operating
Idea Cellular Ltd                     LT Bk Fac          CARE AA+       233949.2Continues on
                                                                                Credit Watch
                                                                                with Developing
Implications
Idea Cellular Ltd                     NCD (NCD) issue    CARE AA+       80000   Continues on
                                                                                Credit Watch
                                                                                with Developing
Implications
Kamakhya Shivalik Enterprises Pvt Ltd LT Bk Fac                                 Withdrawn
New Saraswati House (India) Pvt Ltd   LT Bk Fac (CC)     CARE AA- (SO)* 250     Revised from
                                                                                CARE A+ (SO)
* The ratings are based on the credit enhancement in the form of an 
  unconditional and irrevocable Corporate Guarantee from S. Chand And
  Company Ltd. (SCCL - rated ‘CARE AA-’ (Stable)/ ‘CARE A1+’).
Nickunj Edm Wires & Consumables Pvt Ltd LT Bk Fac-       CARE BB+       100     Reaffirmed
                                      Fundbased- CC
Nickunjeximp Enterprises Pvt Ltd      LT Bk Fac          CARE BB+       320     Reaffirmed
Nirja Publishers And Printerspvt Ltd  LT Bk Fac          CARE AA- (SO)* 60      Assigned
* The ratings are based on the credit enhancement in the form
  of an unconditional and irrevocable Corporate Guarantee from 
  S. Chand And Company Ltd. (SCCL - rated ‘CARE AA-’ (Stable)/ ‘CARE A1+’).
Pavanputrasheetgrah Pvt Ltd           LT Bk Fac          CARE B         70      Issuer Not
                                                                                Cooperating
Pharande Promoters And Builders       LT Bk Fac          CARE BBB-      2000
Issuer not co-operating
Prolific Papers Pvt Ltd               LT Bk Fac          CARE BB        240     Assigned
Rajluxmi Enterprises Pvt Ltd          LT Bk Fac          CARE BB-       70      Reaffirmed
Rama Arts & Exports                   LT Bk Fac          CARE BB-       97.6    Revised from
                                                                                CARE B+
Rama Arts & Exports                   LT Bk Fac/ ST Bk   CARE BB-/CARE  6.2     Long term
                                      Fac                A4                     Rating
                                                                                facilities 
                                                                                revised 
                                                                                from CARE B+
Sambhav Exim                          LT Bk Fac          CARE D         100     Revised from
                                                                                CARE B
Sambhav Exim                          LT/ST Bk Fac       CARE D         60      Revised from
                                                                                CARE B/ CARE
                                                                                A4
Sara Spintex India Pvt Ltd            LT Bk Fac          CARE D         363.6   Revised from
                                                                                CARE D
Issuer not co-operating
Sei Adityashakti Pvt Ltd              LT Bk Fac (TL)                            Withdrawn
Sei Phoebus Pvt Ltd                   LT Bk Fac (TL)                            Withdrawn
Shivamautotech Ltd                    LT Bk Fac          CARE BBB+      4832.3  Revised from
                                                                                CARE BBB+
Soham World Trade Pvt Ltd             LT Bk Fac                                 Withdrawn
Sovereign Pharma Pvt Ltd              LT Bk Fac          CARE A         203.4   Reaffirmed
Sovereign Pharma Pvt Ltd              LT / Shortterm Bk  CARE A /CARE   100     Reaffirmed
                                      Fac                A2+
Suditi Industries Ltd                 LT Bk Fac          CARE BBB-      211     Reaffirmed
Superlite Aac Blocks Industry         LT Bk Facility     CARE B+        135.5   Assigned
Tanot Wind Power Ventures Pvt Ltd     LT Bk Fac (TL)                            Withdrawn
Tata Teleservices (Maharashtra) Ltd   LT Bk Fac- TL      CARE A+        50011.1 Revised from
                                                                                CARE A-
Tata Teleservices (Maharashtra) Ltd   Bk Fac-Fund Based- CARE A+        1400    Revised from
                                      LT-CC                                     CARE A-
Tata Teleservices Ltd                 NCDs               CARE A+        6500    Revised from
                                                                                CARE A-
Tata Teleservices Ltd                 LT Bk FacTL        CARE A+        122985.3Revised from
                                                                                CARE A-
Tata Teleservices Ltd                 LT Bk FacCC        CARE A+        1000    Revised from
                                                                                CARE A-
Tek Travels Pvt. Ltd.                 LT/ST Bk Fac       CARE BBB+      1250    Revised from
                                                                                CARE BBB/CARE
                                                                                A3
Tek Travels Pvt. Ltd.                 LT Bk Fac          CARE BBB+      155     Revised from
                                                                                CARE BBB;
Vijayalakshmi Spintex Ltd             LT Bk Fac          CARE B+        243.9   Revised from
                                                                                CARE BB-
Vijayalakshmi Spintex Ltd             LT/ST Bk Fac       CARE B+/CARE A415      Revised from
                                                                                CARE BB-/CARE
                                                                                A4
Issuer not co-operating
Vikas Publishing House Pvt Ltd        LT Bk Fac (CC)     CARE AA- (SO)* 670     Revised from
                                                                                CARE A+ (SO)
* The ratings are based on the credit enhancement in the form of an 
 unconditional and irrevocable Corporate Guarantee from S. Chand And 
 Company Ltd. (SCCL - rated ‘CARE AA-’ (Stable)/ ‘CARE A1+’)
Vikas Publishing House Pvt Ltd        LT Bk Fac (TL)                            Withdrawn*
*The ratings with respect to the term loans from banks have been withdrawn 
 as the company has fully repaid the term loans and there is no
  outstanding under these facilities.
Vsn Laboratories Pvt Ltd              LT Bk Fac          CARE B+        63      Reaffirmed
Whitefield Spintex (India) Pvt Ltd    LT Bk Fac          CARE B+        266.8   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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