November 16, 2018 / 6:46 AM / 25 days 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, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A.S. Traders                          ST Bk Fac          -              -       Withdrawn
AKMB Projects Pvt Ltd                 ST Bk Fac          CARE A4        70      Assigned
Alankit Ltd                           ST Bk Fac          CARE A3+       100     Reaffirmed
Greenway Clothings India Pvt Ltd      ST Bk Fac          CARE A4        113.7   Assigned
Iscon Surgicals Ltd                   ST Bk Fac          CARE A4        50      Assigned

Kamdhenu Ltd                          ST Bk Fac          CARE A2+       200     Assigned
Khem Traders                          ST Bk Fac          CARE A4        60      Assigned
National Collateral Management ServiceBk Fac-Non-FBST    CARE A1+       50      Reaffirmed
Ltd                                   (ST)
National Collateral Management ServiceCP (Standalone)    CARE A1+       3000    Reaffirmed
Ltd
Shree Rajasthan Syntex Ltd            ST Bk Fac          CARE D         424.2   Reaffirmed
Shamsons Industries                   ST Bk Fac          CARE A4        15      Assigned
Shamsons Polymers Pvt Ltd             ST Bk Fac          CARE A4        25      Assigned
Taranjot Resources Pvt Ltd            ST Bk Fac          CARE A4        235     Assigned
Rushil Décor Ltd                      ST Bk Fac          -              -       Withdrawn


MEDIUM TERM RATINGS:
-------------------
Shree Rajasthan Syntex Ltd            Fixed Deposits     CARE D (FD)    34.531  Reaffirmed
                                      (Instrument)

LONG TERM RATINGS:
-------------------
A.S. Traders                          LT Bk Fac          -              -       Withdrawn
AKMB Projects Pvt Ltd                 LT Bk Fac          CARE B+        30      Assigned
Alankit Ltd                           LT Bk Fac          CARE BBB-      60      Reaffirmed
Ashish Ship Breakers Pvt Ltd          LT / ST Bk Fac     CARE BB- /CARE 500     Revised from
                                                         A4                     CARE BB /
                                                                                CARE A4+
(Issuer not cooperating)
Ashish Vessel Demolition Pvt Ltd      LT / ST Bk Fac     CARE B+ /CARE  300     Revised from
                                                         A4                     CARE BB- /
                                                                                CARE A4
(Issuer not cooperating)
Dryfruit Factory Llp                  LT Bk Fac#         CARE BB- (SO)  88      Assigned
#Bank facilities are backed by the unconditional and irrevocable 
corporate guarantee of Span Divergent Limited
Dryfruit Factory Llp                  LT / ST Bk Fac#    CARE BB- (SO)  52      Assigned
                                                         /CARE A4 (SO)
#Bank facilities are backed by the unconditional and irrevocable 
corporate guarantee of Span Divergent Limited
Greenway Clothings India Pvt Ltd      LT Bk Fac          CARE BB        36.3    Assigned
HDB Financial Services Ltd            Proposed NCDs      CARE AAA       90000   Reaffirmed
HDB Financial Services Ltd            Proposed Market    CARE PP-MLD AAA10000   Assigned
                                      Linked Debentures
High Point Properties Pvt Ltd         Proposed NCDs      Provisional    2250    Assigned
                                      (NCD)^             CARE AA+(SO)
^backed by unconditional and irrevocable revolving corporate guarantee provided 
by Shapoorji Pallonji and Company Private Ltd (SPCPL, rated CARE AA+)
Industrial Handling                   LT Bk Fac          CARE BB-       150     Assigned
Iscon Surgicals Ltd                   LT Bk Fac          CARE BB        14.2    Assigned
Iscon Surgicals Ltd                   LT/ST Bk Fac       CARE BB/CARE A4120     Assigned
Kamdhenu Ltd                          LT Bk Fac          CARE A-        1300    Assigned
Kanakadurga Finance Ltd               Proposed NCD issue CARE BBB       200     Assigned
Khem Traders                          LT Bk Fac          CARE B+        39.7    Assigned
Maihar Alloys Pvt. Ltd.               LT Bk Fac          Revised        90      Revised from
                                                         fromCARE B+            CARE B+
Mangal Commercial Pvt Ltd             LT Bk Fac          CARE BB-       100     Assigned
National Collateral Management ServiceCP (CP) issue      -              -       Withdrawn
Ltd                                   (Carved out of
                                      working capital limits)
National Collateral Management ServiceBk Fac-TL-LT (TL)  CARE A+        1750    Reaffirmed
Ltd
National Collateral Management ServiceLT- Working        CARE A+        250     Assigned
Ltd                                   Capital Bk Fac
National Collateral Management ServiceBk                 CARE A+/CARE   5000    Reaffirmed
Ltd                                   Fac-FB-LT/Sublimit A1+
                                      as Non-Fund based ST Fac
PNC Aligarh Highways Pvt Ltd          LT Bk Fac          Provisional    5000    Assigned
                                                         CARE A*
*The above rating is Provisional pending receipt of Appointed Date 
from National Highways Authority of India (NHAI).
PNC Triveni Sangam Highways Pvt Ltd   LT Bk Fac          Provisional    8730    Assigned
                                                         CARE A-
Pradeep Mining And Construction Pvt Ltd LT Bk Fac        CARE BB        120     Reaffirmed
Prime Comfort Products Pvt. Ltd       LT Bk Fac          CARE BB        500.7   Revised from
                                                                                CARE BB+
(Issuer not cooperating)
Renaatus Procon Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Rushil Décor Ltd                      LT Bk Fac          -              -       Withdrawn
Shamsons Industries                   LT Bk Fac          CARE BB        60      Assigned
Shamsons Industries                   LT Bk Fac/ Short   CARE BB /CARE  10      Assigned
                                      –term Bk Fac       A4
Shamsons Polymers Pvt Ltd             LT Bk Fac          CARE BB        107.1   Assigned
Shamsons Polymers Pvt Ltd             LT Bk Fac/ Short   CARE BB /CARE  12.9    Assigned
                                      –term Bk Fac       A4
Shree Rajasthan Syntex Ltd            LT Bk Fac          CARE D         921     Reaffirmed
Taranjot Resources Pvt Ltd            LT Bk Fac          CARE BB        15      Assigned
Veepee Cotex Corporation              LT Bk Fac          CARE B         59.1    -
(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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