November 17, 2017 / 8:59 AM / 2 months ago

CARE ratings for Indian debt instruments-Nov 17

    Nov 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 16, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Arvind Fashions Ltd                   ST Bk Fac@         CARE A1+ (SO)  750     Reaffirmed
'@ These facilities/instruments are proposed to be backed by the unconditional, irrevocable and
continuing corporate guarantee of Arvind Limited. These ratings shall be confirmed only upon the
receipt of deed of guarantee and other documents to the satisfaction of CARE Ratings Limited.

Arvind Fashions Ltd                   Proposed CP Issue  CARE A1+ (SO)  1000    Reaffirmed
                                      (carved out of
                                      working capital limits)@
'@ These facilities/instruments are proposed to be backed by the unconditional, irrevocable and
continuing corporate guarantee of Arvind Limited. These ratings shall be confirmed only upon the
receipt of deed of guarantee and other documents to the satisfaction of CARE Ratings Limited.
Arvind Fashions Ltd                   Proposed CP Issue  CARE A1+ (SO)  500     Reaffirmed
                                      (Standalone)@
'@ These facilities/instruments are proposed to be backed by the unconditional, irrevocable and
continuing corporate guarantee of Arvind Limited. These ratings shall be confirmed only upon the
receipt of deed of guarantee and other documents to the satisfaction of CARE Ratings Limited.
Arvind Lifestyle Brandsltd            ST Bk Fac#         CARE A1+ (SO)  2751.2  Reaffirmed
# These facilities are backed by the unconditional, irrevocable and continuing corporate
guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+)
Arvind Lifestyle Brandsltd            CP issue (Carved   CARE A1+ (SO)  1500    Reaffirmed
                                      Out)#
# These facilities are backed by the unconditional, irrevocable and continuing corporate
guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+)
Arvind Lifestyle Brandsltd            CP issue           CARE A1+ (SO)  1000    Reaffirmed
                                      (Standalone)#
# These facilities are backed by the unconditional, irrevocable and continuing corporate
guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+)
Aska Equipments Ltd                   ST Bk Fac          CARE A2        160     Reaffirmed
Enhanced from 6.00 crore
Datamatics Business Solutions Ltd     ST Bk Fac          CARE A2+       10      Reaffirmed
Everest Kanto Cylinder Ltd            ST non-fund based  CARE A4+       549.2   Revised from
                                      Bk Fac                                    CARE A4
enhanced from 44.92 CR
Flourish Paper And Chemicals Ltd      ST Bk Fac          CARE A4+       80      Assigned
Olive Industries                      ST Bk Fac          CARE A4        30      Assigned
P.D. Bajoria Tea And Agro Products PvtST Bk Fac          CARE A4        3.5     Assigned
Ltd

LONG TERM RATINGS:
-------------------
Aircel Ltd                            LT Bk Fac          CARE D         174790  Revised from
                                                                                CARE BB+ (SO)
Aircel Smart Money Ltd                LT Bk Fac          CARE D         174790  Revised from
                                                                                CARE BB+ (SO)
Aircelcellular Ltd                    LT Bk Fac          CARE D         174790  Revised from
                                                                                CARE BB+ (SO)
Aksharimpex Pvt Ltd                   Bk Fac-FB - LT/    CARE BBB/ A3   2350    Assigned
                                      STEPC/ PSC
Arvind Fashions Ltd                   Bk Fac#            CARE AA (SO)   500     Reaffirmed
# These facilities are backed by the unconditional, irrevocable and continuing corporate
guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+)
Arvind Fashions Ltd                   LT Bk Fac@         CARE AA (SO)   1750    Reaffirmed
'@ These facilities/instruments are proposed to be backed by the unconditional, irrevocable and
continuing corporate guarantee of Arvind Limited. These ratings shall be confirmed only upon the
receipt of deed of guarantee and other documents to the satisfaction of CARE Ratings Limited.
Arvind Lifestyle Brandsltd            LT Bk Fac#         CARE AA (SO)   3403.9  Reaffirmed
# These facilities are backed by the unconditional, irrevocable and continuing corporate
guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+)
Arvind Lifestyle Brandsltd            LT Bk Fac@         CARE AA (SO)   1500    Reaffirmed
'@ These facilities/instruments are proposed to be backed by the unconditional, irrevocable and
continuing corporate guarantee of Arvind Limited. These ratings shall be confirmed only upon the
receipt of deed of guarantee and other documents to the satisfaction of CARE Ratings Limited.
Arvind Lifestyle Brandsltd            NCD issue          CARE AA (SO)   750     Reaffirmed
                                      (Outstanding)#
# These facilities are backed by the unconditional, irrevocable and continuing corporate
guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+)
Aska Equipments Ltd                   LT Bk Fac          CARE BBB+      70      Reaffirmed
Enhanced from 4.00 crore
Atoz Infracon Pvt Ltd                 LT Bk Fac          CARE BB+       100     Revised from
                                                                                CARE BB+
Issuer not cooperating; enhanced from 9 CR
Calista Properties Pvt Ltd            Bk Fac             CARE B- /A4    150     Reaffirmed
Datamatics Business Solutions Ltd     LT Bk Fac          CARE BBB+      206     Reaffirmed
Datamatics Business Solutions Ltd     Bk Fac             CARE BBB+ /A2+ 60      Reaffirmed
Dishnet Wireless Ltd                  LT Bk Fac          CARE D         174790  Revised from
                                                                                CARE BB+ (SO)
Dolby Plyboards Pvt Ltd               Bk Fac             CARE BB- /A4   105     Reaffirmed
Everest Kanto Cylinder Ltd            LT fund based Bk   CARE BB        849.9   Revised from
                                      Fac (Yes Bk TL)                           CARE B
reduced from 206.96 CR
Everest Kanto Cylinder Ltd            LT fund based Bk   CARE BB        85      Revised from
                                      Fac (EXIM Bk TL)                          CARE B
reduced from 32.09 CR
Everest Kanto Cylinder Ltd            LT fund based Bk   CARE BB        810     Revised from
                                      Fac – CC                                  CARE B
Flourish Paper And Chemicals Ltd      LT Bk Fac          CARE BB-       70      Assigned
Gangavaram Port Ltd                   LT Bk Fac          CARE AA        5159.6  Revised from
                                                                                CARE AA-
Reduced from Rs.1162.88 crore
Hcl It City Lucknow Pvt Ltd           LT Bk Fac – TL     CARE AAA (SO)  3860    Assigned
Hcl It City Lucknow Pvt Ltd           LT/ ST Bk Fac –    CARE AAA (SO)  820     Assigned
                                      Non Fund Based
Leading Construction                  LT Bk Fac          CARE BB        36.6    Reaffirmed
Reduced from 4.07 CR
Leading Construction                  Bk Fac             CARE BB /A4+   20      Reaffirmed
Maa Padmavati Fabrics                 LT Bk Fac          CARE B+        60      Reaffirmed
New World Landmark Llp                LT Bk Fac          CARE BBB-      763.3
Issuer not cooperating
Nyalkaran Infra                       LT Bk Fac          CARE BB-       150     Assigned
Olive Industries                      LT Bk Fac          CARE B         255.8   Assigned
P.D. Bajoria Tea And Agro Products PvtLT Bk Fac          CARE B         74.8    Assigned
Ltd
Reliance Broadcast Network Ltd        LT NCDs (NCD)      CARE AA+ (SO)  1800    Final Rating
S. K. Timbers                         LT Bk Fac          CARE B         80      Assigned
S.S. Agri Business Pvt Ltd            LT Bk Fac          CARE B+        115.3   Assigned
Sahakarmaharshishankarraomohite Patil LT Bk Fac          CARE C         350     Revised from
Ssk Ltd                                                                         CARE B
Shiv Shankar Rice Mills               LT Bk Fac          CARE BB-       100     Assigned
Vignan'S Foundation For Science,      LT Bk Fac          CARE BBB-      414.7
Technology And Research
Issuer not cooperating
Vivriti Asensio 010 2017 (Originator: Series A PTC#      CARE A- (SO)   258     Provisional
Annapunra Microfinancepvt Ltd)
# Series APTCs are rated on Ultimate Payment basis

--------------------------------------------------------------------------------------------
$: 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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