November 22, 2017 / 7:04 AM / 7 months ago

CARE ratings for Indian debt instruments-Nov 22

    Nov 22 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 21, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aegis Gas (Lpg) Pvt. Ltd              ST Bk Fac          CARE A1+ (SO)  240     Reaffirmed
(Enhanced from 15 crore)
Aegis Logistics Ltd                   ST Bk Fac          CARE A1+       4119.8  Reaffirmed
Atc Telecom Infrastructure Pvt Ltd    ST Bk Fac          CARE A1+       5800    #
G.R Fabrics Pvt Ltd                   ST Bk Fac          CARE A4        10      Assigned
Ghv Hotel (India) Pvt Ltd             ST Bk Fac          CARE A4+       20      Issuer not
                                                                                cooperating
Goyal Cotton Fiber                    ST Bk Fac          -              -       Withdrawn
Happy Forgings Ltd                    ST Bk Fac          -              -       Withdrawn
Hindustan Aegis Lpg Ltd               ST Bk Fac          -              -       Withdrawn
Hindustan Produce Company             ST Bk Fac          CARE A4        69.3    Reaffirmed
Hsil Ltd                              ST Bk Fac          CARE A1+       2500    #
Hsil Ltd                              CP (CP) issue*     CARE A1+       3000    #
*carved out of the sanctioned working capital limits of the company.
Ion Healthcare Pvt Ltd                ST Bk Fac          CARE A2        20      Revised from
                                                                                CARE A3+
Itcos Granito Llp                     ST Bk Fac          CARE A4        25      Assigned
Kaveri Ceramic                        ST Bk Fac          CARE A4+       15      Withdrawn
Kesoram Industries Ltd                ST Bk Fac          CARE A2+       5850    @
M K Shipping And Allied Industries PvtST Bk Fac          CARE A3        700     Reaffirmed
Ltd
Mahavir Inductomelt Pvt Ltd           ST Bk Fac          CARE A3        1250    Reaffirmed
Njr Constructions Pvt Ltd             ST Bk Fac          CARE A4+       330     Assigned
Puneet Industries Pvt Ltd             ST Bk Fac          CARE A3        1000    Reaffirmed
Scott Edil Advance Research           ST Bk Fac          CARE A2        42      Revised from
Laboratories And Education Ltd                                                  CARE A3+
Scott Edil Pharmacia Ltd              ST Bk Fac          CARE A2        250     Revised from
                                                                                CARE A3+
Vidya Metal Manufacturing Company Pvt ST Bk Fac          CARE A4        120     Assigned
Ltd
LONG TERM RATINGS:
-------------------
Ace Infracity Developers Pvt Ltd      LT Bk Fac-TL       CARE BB        1200    Assigned
Aegis Gas (Lpg) Pvt. Ltd              LT Bk FacTL        CARE AA (SO)   150     Reaffirmed
Aegis Gas (Lpg) Pvt. Ltd              NCDs               CARE AA (SO)   428     Reaffirmed
Aegis Logistics Ltd                   LT Bk Fac          CARE AA        322.9   Reaffirmed
Aegis Logistics Ltd                   NCDs               CARE AA        250     Reaffirmed
Anupama Steel Ltd                     LT/ST Fac          CARE BBB-      375     Assigned
                                                         /CARE A3
Atc Telecom Infrastructure Pvt Ltd    LT Bk Fac          CARE AA-       26855.1 #
Belstar Investment And Finance Pvt LtdNCD issue          CARE A         1500    Assigned
                                      (Proposed)
Everest Power Pvt Ltd                 LT Bk Fac          CARE           3890    Assigned
                                                         EL 2
Eversendai Construction Pvt Ltd       Long /ST Bk Fac    CARE BBB-      4000    Reaffirmed
                                                         /CARE A3
Evershinesolvex Pvt Ltd               LT Bk Fac          CARE BB-       140     Assigned
Fouzdar Cars Pvt Ltd                  LT Bk Fac          CARE B         50      Revised from
                                                                                CARE B+
Issuer Not Cooperating
Fouzdar Cars Pvt Ltd                  LT/ST Bk Fac       CARE B/CARE A4 20      Revised from
                                                                                CARE B+
Issuer Not Cooperating
G.R Fabrics Pvt Ltd                   LT Bk Fac          CARE BB-       44.8    Assigned
Ghv Hotel (India) Pvt Ltd             LT Bk Fac          CARE BB+       143.4   Issuer not
                                                                                cooperating
Goyal Cotton Fiber                    LT Bk Fac          -              -       Withdrawn
Happy Forgings Ltd                    LT Bk Fac          -              -       Withdrawn
Happy Forgings Ltd                    LT/Shortterm Bk Fac-              -       Withdrawn
Hindustan Produce Company             LT Bk Fac          CARE B+        28.5    Reaffirmed
Hsil Ltd                              LT Bk Fac          CARE AA-       9325.8  #
Ibfsl Da Mar 12 Ii-[Originator:       Assignee Payouts   -              -       Withdrawn
Indiabulls Housing Finance Ltd ]
Ibfsl Da Mar 12 Ii-[Originator:       Second Loss        -              -       Withdrawn
Indiabulls Housing Finance Ltd ]      Facility        
Ibfsl Da Sept 11 I-[Originator:       Assignee Payouts   -              -       Withdrawn
Indiabulls Housing Finance Ltd ]
Indiafirst Life Insurance Co. Ltd     Proposed           CARE AA        1000    Assigned
                                      Subordinated Debt
Innovation Trust Viii Mar             Series A PTCs      -              -       Withdrawn
13-[Originator: Indiabulls Housing
Finance Ltd]
Innovation Trust Xi Mar 13-[OriginatorSeries A PTCs      -              -       Withdrawn
Indiabulls Housing Finance Ltd]
Ion Healthcare Pvt Ltd                LT Bk Fac          CARE BBB+      122     Revised from
                                                                                CARE BBB
Itcos Granito Llp                     LT Bk Fac          CARE B+        249.9   Assigned
Jorabat Shillong Expressway Ltd.      *Proposed Senior   ProvCARE AAA   6412    Assigned
                                      NCDs (NCDs)        (SO)
*the rating for the proposed NCD Issue is backed by discounting of future annuities receivable
from National Highways Authority of India (rated CARE AAA; Stable) apart from the presence of
proposed structured payment mechanism and various credit enhancement features 
Jorabat Shillong Expressway Ltd.      *Proposed          ProvCARE AAA   2488    Assigned
                                      Subordinate        (SO)
                                      NonConvertible Debentures (NCDs)
*the rating for the proposed NCD Issue is backed by discounting of future annuities receivable
from National Highways Authority of India (rated CARE AAA; Stable) apart from the presence of
proposed structured payment mechanism and various credit enhancement features 
Kaveri Ceramic                        LT Bk Fac          CARE BB-       35      Withdrawn
Kesoram Industries Ltd                LT Bk Fac          CARE A-        4300    @
Kesoram Industries Ltd                Long/Shortterm Bk  CARE A- /CARE  13150   @
                                      Fac                A2+                    
M K Shipping And Allied Industries PvtLT Bk Fac          CARE BBB-      70      Reaffirmed
Ltd
Mahavir Inductomelt Pvt Ltd           LT Bk Fac          CARE BBB-      120     Reaffirmed
Njr Constructions Pvt Ltd             LT Bk Fac          CARE BB+       100     Assigned
Orient Spun Silk And Processing Mills LT Bk Facility     CARE B         45      Assigned
Llp
Puneet Industries Pvt Ltd             LT Bk Fac          CARE BBB-      110     Reaffirmed
Ram Aabhoshan                         LT Bk Fac          CARE B+        150     Assigned
Ravindra Rice And General Mills       LT Bk Fac          CARE B+        165     Assigned
Scott Edil Advance Research           LT Bk Fac          CARE BBB+      329.1   Revised from
Laboratories And Education Ltd                                                  CARE BBB
Scott Edil Pharmacia Ltd              LT Bk Fac          CARE BBB+      500     Revised from
                                                                                CARE BBB
Shrimarc Mall Llp                     LT Bk Fac          CARE BB        690     Assigned
Siro Clinpharm Pvt Ltd                LT/ST Bk Fac       CARE BBB /CARE 75      Revised from
                                      (FundBased)        A3                     CARE BB /CARE
                                                                                A4
Supertech Ltd                         LT Bk Fac – I      -              -       Withdrawn
                                      (TL-I)
Supertech Ltd                         LT Bk Fac – II     -              -       Withdrawn
                                      (TL-II)
Supertech Realtors Pvt Ltd            LT Bk Fac – I      -              -       Withdrawn
                                      (TL-I)
Supertech Realtors Pvt Ltd            LT Bk Fac – II     -              -       Withdrawn
                                      (TL-II)
Supertech Township Projectltd         LT Bk Fac – I      -              -       Withdrawn
                                      (TL-I)
Supertech Township Projectltd         LT Bk Fac – II     -              -       Withdrawn
                                      (TL-II)
Vfpl Asipl Jv Company                 LT Bk Fac          CARE BB+       306     Assigned
Vidya Metal Manufacturing Company Pvt LT Bk Fac          CARE BB-       50      Assigned
Ltd
Vivriti Rey 010 2017-(Originator: SatiSeries A1 PTC      ProvCARE A-    -       Assigned
Creditcare Network Ltd)                                  (SO)                                   
Vivriti Rey 010 2017-(Originator: SatiSeries A2 PTC      ProvCARE BBB   -       Assigned
Creditcare Network Ltd)                                  (SO)
--------------------------------------------------------------------------------------------
$: 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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