November 24, 2017 / 6:47 AM / in a year

CARE ratings for Indian debt instruments-Nov 24

   Nov 24 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 23, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Blue Star Ltd                         ST Bk Fac          CARE A1+       10100   Reaffirmed
Blue Star Ltd                         CP                 CARE A1+       4000    Reaffirmed
Classicon Construction India Pvt Ltd  ST Bk Fac          CARE A4        50.5    Assigned
Hal Offshore Ltd                      ST Bk Fac          CARE A3+       2000    Rating put
                                                                                under Credit
                                                                                watch
Hindware Home Retail Pvt Ltd          ST Bk Fac – Non-FB CARE A1+ (SO)^ 105     Rating placed
                                      working capital                           on credit
                                      limits – LC/ BG                           watch with 
                                                                                developing 
                                                                                implications
Jaywant Sugars Ltd                    ST Bk Fac          CARE A4        60      Issuer not
                                                                                cooperating
Jsw Steel Salav Ltd                   ST Non fund based  CARE A1+ (SO)  2605    Reaffirmed
                                      working capital
                                      facility (LC/BG) @
@Backed by Letter of Comfort (LoC) from JSW Steel Limited (JSWSL: rated 
CARE AA-; Stable/CARE A1+) provided on behalf of JSSL to the lenders.
M.K. Agrotech Pvt Ltd                 ST Bk Fac          CARE A1        1935    Revised from
                                                                                CARE A2+
Premier Enterprises                   ST Bk Fac          CARE A4        110     Revised from
                                                                                CARE A4
Seamec Ltd                            ST - Bk Fac-Fund   CARE A2+       210     Placed on
                                      based / Non-FB-                           credit watch
                                                                                with developing
implications
Seamec Ltd                            ST – Non-fund      CARE A2+       50      Placed on
                                      based Forward                             credit watch
                                      contract                                  with developing
implications
Sgs Marine Habitability Pvt Ltd       ST Bk Fac          CARE A4        60      Reaffirmed
Spectrum Filtration Pvt Ltd           ST Bk Fac          CARE A4        6       Reaffirmed
Spray Engineering Devices Ltd         ST Bk Fac          CARE A4        170     Assigned

MEDIUM TERM RATINGS:
-------------------
Savery Transport Finance Ltd          Fixed Deposits     CARE BBB+ (FD) 50      Reaffirmed

LONG TERM RATINGS:
-------------------
Ayan Foods                            LT Bk Fac          CARE B+        37.9    Revised from
                                                                                CARE B
Blue Star Ltd                         LT Bk Fac          CARE AA+       500     Reaffirmed
Classicon Construction India Pvt Ltd  LT Bk Fac          CARE B+        19.5    Assigned
Daenerys Ifmr Capital 2017            Series A2 PTC      Provisional    36.8    Assigned
                                                         CARE A- (SO)
Daenerys Ifmr Capital 2017            Series A1 PTC      Provisional    458.1   Assigned
                                                         CARE AA- (SO
Fairdeal Multifilament Pvt Ltd        LT Bk Fac          CARE B+        53.6    Reaffirmed
Fairdeal Multifilament Pvt Ltd        LT / ST Bk Fac     CARE B+ /CARE  42.6    Reaffirmed
                                                         A4
Guinea Motors Pvt Ltd                 LT Bk Fac          CARE BB-       100     Reaffirmed
Gvk Emergency Management & Research   LT Bk Fac          CARE BBB+      446.5   Reaffirmed
Institute
Gvk Emergency Management & Research   Long/ST Bk Fac     CARE BBB+      434.1   Reaffirmed
Institute                                                /CARE A3+
Hal Offshore Ltd                      LT Bk Fac          CARE BBB       3000    Rating put
                                                                                under Credit
                                                                                watch
Hindware Home Retail Pvt Ltd          LT Bk Fac – FB     CARE AA- (SO)^ 80      Rating placed
                                      working capital                           on credit
                                      limits - CC                               watch with
                                                                                developing 
                                                                                implications
India Build Property Developers Pvt Ltd NCDs             CARE BB        350     Final Rating
Indiabulls Asset Management Company Ltd Open-Ended IncomeCARE A+mfs             Revised from
                                      Scheme                                    CARE AAAmfs
Jaywant Sugars Ltd                    LT Bk Fac          CARE BB-       1189.5  Issuer not
                                                                                cooperating
Jsw Steel Salav Ltd                   LT Bk Fac (TL)@    CARE A+ (SO)   8500    Reaffirmed
@Backed by Letter of Comfort (LoC) from JSW Steel Limited (JSWSL: rated 
CARE AA-; Stable/CARE A1+) provided on behalf of JSSL to the lenders.
Jsw Steel Salav Ltd                   LT Bk Fac (Fund    CARE A+ (SO)   770     Reaffirmed
                                      Based)@
@Backed by Letter of Comfort (LoC) from JSW Steel Limited (JSWSL: rated 
CARE AA-; Stable/CARE A1+) provided on behalf of JSSL to the lenders.
M.K. Agrotech Pvt Ltd                 LT Bk Fac          CARE A         230     Revised from
                                                                                CARE A-
Micro Melt Pvt Ltd                    LT Bk Fac          CARE BB        73
Molagavalli Renewable Pvt Ltd         LT Bk Fac          CARE BBB       2910    Assigned
Premier Enterprises                   LT Bk Fac          CARE BB+       50      Revised from
                                                                                CARE BB
Premier Synthetics Ltd                Non-convertible    CARE B         95      Reaffirmed
                                      NonCumulative
                                      Redeemable PS
Pullani Engineers Pvt Ltd             LT Bk Fac          CARE B+        59.1    Revised from
                                                                                CARE BB-
Reliance Utilities And Power Pvt Ltd  Non- Convertible   CARE AAA       62500   Reaffirmed
                                      Debentures
Rsd Overseas                          LT Over draft      CARE B         100     Revised from
                                                                                CARE B+
Savery Transport Finance Ltd          LT Bk Fac          CARE BBB+      200     Reaffirmed
Seamec Ltd                            LT/ ST-Working     CARE A-/CARE   250     placed on
                                      Capital Limits -   A2+                    credit watch
                                      Bk Fac-Fundbased                          with developing
implications
Sgs Marine Habitability Pvt Ltd       LT Bk Fac          CARE BB-       140     Reaffirmed
Spectrum Filtration Pvt Ltd           LT Bk Fac          CARE BB        67.6    Reaffirmed
Spray Engineering Devices Ltd         LT Bk Fac          CARE B+        210     Assigned
Sun Corporation                       LT Bk Fac          CARE BB        120     Revised from
                                                                                CARE BB-
Unitech Automobiles Pvt Ltd           LT Bk Fac          CARE BB-       810     Reaffirmed
Vasmo Agro Nutri Product Pvt Ltd      LT Bk Fac          CARE BB+       400     Assigned
Vibrant Polymers Llp                  LT Bk Fac          CARE BB-       135     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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