November 20, 2017 / 5:49 AM / 7 months ago

CARE ratings for Indian debt instruments-Nov 20

    Nov 20 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 17, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aggarwal Rice Mills                   ST Bk Fac          CARE A4        75      Assigned
(Enhanced from 33.05 crore)
Akanshaispat Pvt Ltd                  ST Bk Fac          CARE A4        100     Reaffirmed
Dwarkadhish Cotspin Pvt Ltd           ST Bk Fac          CARE A3        4.4     Revised from
                                                                                CARE A4+
Fleming Laboratories Ltd              ST Bk Fac          CARE A3        86.8    Reaffirmed
(enhanced from 8.05 CR)
Guru Nanak Engineering Services       ST Bk Fac          CARE A4        110     Reaffirmed
(enhanced form 8.00 CR)
Hajaria Security Service              ST Bk Fac          CARE A4        7.5     Assigned
Hi- Tech Water Solutions Pvt Ltd      ST Bk Fac          CARE A4+       1500    Reaffirmed
M. M. Ceramics And Ferro Alloys       ST Bk Fac          CARE A2+       1700    Reaffirmed
(enhanced from 78.00 CR)
Raajratna Ventures Ltd                ST Bk Fac          CARE A2        160     Revised from
                                                                                CARE A3+
Techno Rings                          ST Bk Fac          CARE A3        20.4    Assigned
Utkarsh India Ltd                     ST Bk Fac          CARE A3+       927.2   Revised from
                                                                                CARE A3
(enhanced from 67.22 CR)
Wfb Baird And Company (India) Pvt Ltd ST Bk Fac          CARE A3        985     Reaffirmed
(enhanced from 36.5 CR)
Yash Papers Ltd                       ST Bk Fac          CARE A3        230.4   Assigned

LONG TERM RATINGS:
-------------------
Aggarwal Rice Mills                   LT Bk Fac          CARE B+        332.4   Reaffirmed
Akanshaispat Pvt Ltd                  LT Bk Fac          CARE BB-       32.5    Revised from
                                                                                CARE BB
Ashapura Intimates Fashion Ltd        LT Bk Fac-CC       CARE A         575     Revised from
                                                                                CARE BBB+
(enhanced from Rs.50 crore)
Ashapura Intimates Fashion Ltd        LT Bk Fac-TL       CARE A         150     Assigned
Baba Super Minerals Pvt Ltd           LT Bk Fac          CARE BB        195.8   Assigned
Baba Super Minerals Pvt Ltd           LT/ST Bk Fac       CARE BB /CARE  92.5    Assigned
                                                         A4
Bhavani Modern Rice Mill              LT Bk Fac          CARE B+        60      Assigned
Clean Wind Power (Pratapgarh) Pvt Ltd LT Bk Fac (TL)     CARE A         527     Revised from
                                                                                CARE BBB+
(reduced from 61.10 CR)
Clean Wind Power (Pratapgarh) Pvt Ltd LT Bk Fac (Bk      CARE A         30      Revised from
                                      Overdraft)                                CARE BBB+
Daulat Flour Mill                     LT Bk Fac          CARE B+        89.6    Reaffirmed
(Enhanced from 7.50 CR)
Dwarkadhish Cotspin Pvt Ltd           LT Bk Fac          CARE BBB-      319.1   Revised from
                                                                                CARE BB+
(reduced from Rs.36.37 crore)
Dwarkadhish Cotspin Pvt Ltd           LT/ST Bk Fac       CARE BBB-      170     Revised from
                                                         /CARE A3               CARE BB+ /
                                                                                CARE A4+
Fleming Laboratories Ltd              LT Bk FacForeign   -              -       Reaffirmed
                                      Currency TL
Fleming Laboratories Ltd              LT Bk Fac          CARE BBB-      175     Reaffirmed
(enhanced from 12.41 CR)
Fleming Laboratories Ltd              LT/ST Bk Fac       CARE BBB-      30      Reaffirmed
                                                         /CARE A3
(enhanced from 1.00 CR)
Guru Nanak Engineering Services       LT Bk Fac          CARE BB        40      Reaffirmed
Hajaria Security Service              LT Bk Fac          CARE BB-       30      Assigned
Hajaria Security Service              LT/ST Bk Fac       CARE BB- /CARE 62.5    Assigned
                                                         A4
Hajaria Soft Services Pvt Ltd         LT Bk Fac          CARE B+        2.5     Assigned
Hajaria Soft Services Pvt Ltd         LT/ST Bk Fac       CARE B+ /CARE  47.5    Assigned
                                                         A4
Haridwar Highways Project Ltd         LT Bk Fac          CARE B         9810.9  Revised from
                                                                                CARE B+
Hi- Tech Water Solutions Pvt Ltd      LT Bk Fac          CARE BB+       200     Reaffirmed
India Infoline Finance Ltd            Subordinated Debt  CARE AA        2000    Assigned
Indian Machine Tool Manufacturers’    LT Bk Fac          CARE BBB       1652.1  Reaffirmed
Association
(reduced from Rs.184 crore)
M. M. Ceramics And Ferro Alloys       LT Bk Fac          CARE A-        750     Reaffirmed
(enhanced from 20.00 CR)
Madhuban Trade Steels Pvt. Ltd.       LT Bk Fac          CARE A-        775     Reaffirmed
(enhanced from 42.00 CR)
Momai Apparels Ltd                    LT Bk Fac          CARE A(SO)     325     Revised from
                                                                                CARE BBB+(SO)
Pcc Logistics Ltd                     LT Bk Fac          CARE BBB-      420     Assigned
R.S. Dream Land Pvt Ltd.              LT Bk Fac          CARE B+        120     Assigned
Raajratna Ventures Ltd                LT Bk Fac          CARE BBB+      80      Reaffirmed
Raajratna Ventures Ltd                LT/ST Bk Fac       CARE BBB+      520     Reaffirmed /
                                                         /CARE A2               Revised from
                                                                                CARE A3+
(Enhanced from Rs.42.00 crore)
Sree Gopal Rice Mill                  LT Bk Fac          CARE B+        44.7    Assigned
Techno Rings                          LT/ST Bk Fac       CARE BBB-      22.5    Assigned
                                                         /CARE A3
Utkarsh India Ltd                     LT Bk Fac          CARE BBB       1110    Reaffirmed
(enhanced from 101.23 CR)
Utkarsh India Ltd                     LT/ST Bk Fac       CARE BBB /CARE 2625    Reaffirmed
                                                         A3+                    /Revised from
                                                                                CARE A3
(enhanced from 250 CR)
West Bengal Infrastructure DevelopmentBond Series IB     -              -       WITHdrawn
Finance Corporation Ltd               (AD, AE, AF/2007-
                                      08)@
Wfb Baird And Company (India) Pvt Ltd LT Bk Fac          CARE BBB       80      Reaffirmed
Wfb Baird And Company (India) Pvt Ltd LT/ST Bk Fac       CARE BBB /CARE 125     Reaffirmed
                                                         A3+
Yash Papers Ltd                       LT Bk Fac          CARE BBB-      1419.6  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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