November 16, 2017 / 4:28 AM / 7 months ago

CARE ratings for Indian debt instruments-Nov 16

    Nov 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 15, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ambit Finvest Pvt Ltd                 CP*                CARE A1+(SO)   500     Reaffirmed
*based on credit enhancement in the form of an unconditional and irrevocable guarantee from the
parent, Ambit Private Limited (APL).
Arvind Ltd                            ST Bk Fac          CARE A1+       4822.2  Reaffirmed
Arvind Ltd                            CP (CP) (Carved    CARE A1+       3000    Reaffirmed
                                      Out of sanctioned
                                      working capital limits)
Arvind Ltd                            CP (Standalone)    CARE A1+       4000    Reaffirmed
Bajaj Energy Ltd                      ST Bk Fac          CARE D         570     Revised from
                                                                                CARE A4
B. M. Foods                           ST Bk Fac          CARE A4        8       Assigned
Berger Paints India Ltd               CP                 CARE A1+       5000    Assigned
Dipesh Construction Company           ST Bk Fac          CARE A4        170     Reaffirmed
(enhanced from 12.00 CR)
Flemingo Duty Free Shop Pvt Ltd       ST Bk Fac          CARE A2+       80      Assigned
Kwality Animal Feeds Pvt Ltd          ST Bk Fac          CARE A3        30      Assigned
Muthoot Vehicle And Asset Finance Ltd ST Bk Fac          CARE A2        200     Assigned
Sanwariyaimpex Pvt Ltd                ST Bk Fac          CARE A4.       0.6     Reaffirmed
Vardaan Seeds And Agritech            ST Bk Fac          CARE A4        40      Assigned

LONG TERM RATINGS:
-------------------
Agropure Capital Foods Pvt. Ltd.      LT/ST Bk Fac       CARE BBB-      450     Reaffirmed
                                                         /CARE A3
Arvind Ltd                            Long- term Bk Fac  CARE AA        5911.8  Reaffirmed
Arvind Ltd                            NCD                CARE AA        1000    Reaffirmed
Arvind Ltd                            NCD                CARE AA        1000    Reaffirmed
Arvind Ltd                            LT/ST Bk Fac       CARE AA /CARE  12230   Reaffirmed
                                                         A1+
B. M. Foods                           Long- term Bk Fac  CARE BB-       79.5    Assigned
Bajaj Energy Ltd                      Long- term Bk Fac  CARE D         25783.5 Revised from
                                                                                CARE BB-
Bst Infratech Ltd                     Long- term Bk Fac  CARE BBB       1300    Revised from
                                                                                CARE BBB-
(enhanced from 61.9 CR)
Care Office Equipment Ltd             Long- term Bk Fac  CARE C         650     Revised from
                                                                                CARE BB+
Care Office Equipment Ltd             LT/ST Bk Fac       CARE C /CARE A4150     Revised from
                                                                                CARE BB+ /
                                                                                CARE A4+
Dadu Pipes Pvt Ltd                    Long- term Bk Fac  CARE BB        180     Reaffirmed
Dadu Pipes Pvt Ltd                    LT/ST Bk Fac       CARE BB /CARE  120     Reaffirmed
                                                         A4
(Enhanced from 2.00 crore)
Dignity Buildcon Pvt Ltd              Long- term Bk Fac  CARE D         7750    Revised from
                                                                                CARE BB+
Dipesh Construction Company           Long- term Bk Fac  CARE BB        30      Reaffirmed
Embee Agro Food Industries Pvt Ltd    Long- term Bk Fac  CARE B+        203.3   Revised from
                                                                                CARE BB-
(Issuer not cooperating)
Flemingo Duty Free Shop Pvt Ltd       Long- term Bk Fac  CARE A         689.5   Assigned
Flemingo Duty Free Shop Pvt Ltd       NCD                CARE A         1500    Assigned
Flemingo Duty Free Shop Pvt Ltd       LT/ST Bk Fac       CARE A /CARE   813.5   Assigned
                                                         A2+
Gangadi Investments Pvt Ltd           Proposed NCD issue CARE BB        4500    Assigned
Gpa Foods Pvt. Ltd.                   Long -term Bk Fac  CARE BBB-      68.6    Reaffirmed
                                      (CC)
(reduced from Rs. 8.22 CR)
Gpa Foods Pvt. Ltd.                   LT/ST Bk Fac       CARE BBB-      150     Assigned
                                                         /CARE A3
Hindustan Dall And Flour Mills        Long -term Bk Fac  CARE BBB-      68.6    Reaffirmed
                                      (CC)
(reduced from Rs. 8.22 CR)
Hindustan Dall And Flour Mills        LT/ST Bk Fac       CARE BBB-      150     Assigned
                                                         /CARE A3
India Exposition Mart Ltd             Long- term Bk Fac  CARE BBB+      325.2   Assigned
Kwality Animal Feeds Pvt Ltd          Long- term Bk Fac  CARE BBB-      450.3   Reaffirmed
Madhya Bharat Power Corporation Ltd   LT/ST Bk Fac       CARE BBB-(SO); 800     Final Rating
                                                         Stable/CARE A3
                                                         (SO)
Muthoot Vehicle And Asset Finance Ltd Long- term Bk Fac  CARE BBB+      175     Assigned
Muthoot Vehicle And Asset Finance Ltd LT/ST Bk Fac       CARE BBB+      2300    Assigned
                                                         /CARE A2
Nagesh Enterprises                    Long- term Bk Fac  CARE BB-       206.3   Reaffirmed
(Reduced from 21 CR)
Omrv Hospitals Pvt Ltd                Long- term Bk Fac  CARE B+        61.4    Revised from
                                                                                CARE BB
(Issuer not cooperating)
R.S.Triveni Foods Pvt. Ltd.           LT/ST Bk Fac       CARE BBB-      400     Reaffirmed
                                                         /CARE A3
Sak Buildtech Pvt Ltd                 Long- term Bk Fac  -              -       withdrawn
Sanwariyaimpex Pvt Ltd                Long- term Bk Fac  CARE B+        47      Reaffirmed
(Reduced from 5.60 CR)
Sheth Creators & Constructors Pvt. LtdNCD                CARE D         1250    Revised from
                                                                                CARE BB
(Issuer not cooperating)
Shri Mahavir Pulses Pvt. Ltd          LT/ST Bk Fac       CARE BBB-      80      Reaffirmed
                                                         /CARE A3
Shrinath Cotton Industries            Long- term Bk Fac  CARE B+        60.3    Reaffirmed
Sri Venkateswara Aerospace Pvt Ltd    LT Bk Facility     CARE BB-       36.4    Assigned
Sri Venkateswara Aerospace Pvt Ltd    Long/ST Bk Fac     CARE BB- /CARE 150     Reaffirmed
                                                         A4
Surajcropsciences Ltd                 Long- term Bk Fac  CARE BB-       175.7   Revised from
                                                                                CARE BB
(Issuer not cooperating)
Tarini Ifmr Capital 2017              Series A1 PTC#     CARE A- (SO)   1485.9  Assigned
The PTCs are rated on Ultimate Payment basis
Tarini Ifmr Capital 2017              Series A2 PTC#     CARE BBB- (SO) 49.5    Assigned
The PTCs are rated on Ultimate Payment basis
Truba Education Society               Long- term Bk Fac  CARE B+        300     Revised from
                                                                                CARE B
Vardaan Seeds And Agritech            Long- term Bk Fac  CARE B+        20      Assigned
Vasu Infrastructure Pvt Ltd           Long- term Bk Fac  CARE BB+       303.2   Revised from
                                                                                CARE BB
(Reduced from 50.00 CR),(Issuer not cooperating)
Vindhya Shiksha Samiti                Long- term Bk Fac  CARE BB+       140     Assigned
Worldstar Fabrics Llp                 LT Bk Fac (CC)     CARE BBB-      422.5   Assigned
Zen Tobacco Pvt Ltd                   Long- term Bk Fac  CARE B+        55      Revised from
                                                                                CARE B
Zephyr Fabric Trading Llp             Long -term Bk Fac  CARE BBB-      250     Assigned
                                      (CC)
--------------------------------------------------------------------------------------------
$: 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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