November 28, 2017 / 7:05 AM / a year ago

CARE ratings for Indian debt instruments-Nov 28

    Nov 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 27, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bhagawati Cools Priavate Ltd          ST Bk Fac          CARE A4        44.5    Reaffirmed
Him Steel Pvt Ltd                     ST Bk Fac          CARE D         50      Revised from
                                                                                CARE A4
Il&Fs Education & Technology Services CP                 CARE A1+       1250    Reaffirmed
Ltd
India Pesticides Ltd                  ST Bk Fac          CARE A2+       150     Reaffirmed
J P Extrusiontech Ltd                 ST Bk Fac          CARE A4        30      Reaffirmed
J.D. Industries                       ST Bk Fac          CARE A4        40      Assigned
Ladhar Paper Mills                    ST Bk Fac          CARE A4        5       Reaffirmed
Mahavir Foods                         ST Bk Fac          CARE D         150     Issuer not
                                                                                cooperating
Rajshree Construction                 ST Bk Fac          CARE A4        37.5    Issuer not
                                                                                cooperating
Shree Bajrang Sales Pvt Ltd           ST Bk Fac          CARE A4        130     Assigned
Siddhi Weaves Pvt Ltd                 ST Bk Fac          CARE A3        5.6     Assigned
Sidhivinayak Rice Mills               ST Bk Fac          CARE D         180     Issuer not
                                                                                cooperating
Singur Cold Storage Pvt Ltd           ST Bk Facility     CARE A4        5       Assigned
Sudhanva Engineers And Builders       ST Bk Facility     CARE A4        40      Reaffirmed
Terram Geosynthetics Pvt Ltd          ST Bk Fac          CARE A3+       80      Revised from
                                                                                CARE A3
(enhanced from 5.93crs)
Usha Breco Ltd                        ST Bk Fac          CARE A2+       10      Reaffirmed
Vishakha Irrigation Pvt Ltd           ST Bk Fac          CARE A4        123.9   Reaffirmed
Vizag Rebars Pvt Ltd                  ST Bk Fac          CARE A4        50      Reaffirmed
(Enhanced from 15crs)

MEDIUM TERM RATINGS:
-------------------
Usha Breco Ltd                        Medium-term        CARE A (FD)    100     Assigned
                                      Instruments- Fixed
                                      Deposit
LONG TERM RATINGS:
-------------------
Bag Poly Enterprises                  LT Bk Fac          CARE BB-       62.3    Assigned
Belstar Investment And Finance Pvt LtdPS (Proposed)      CARE A- (RPS)  500     Assigned
Bhagawati Cools Priavate Ltd          LT Bk Fac          CARE B+        95.6    Reaffirmed
Chaudhary Ingots Pvt Ltd              LT Bk Fac          CARE D         115     Issuer not
                                                                                cooperating
Earth Solar Power Pvt Ltd             LT Bk Fac          CARE BBB       235.2   Assigned
Esaf Microfinance And Investments Pvt Proposed NCD issue -              -       Withdrawn
Ltd
Excel Castronics Ltd                  LT / ST Bk Fac     -              -       Withdrawn
Him Cylinders Ltd                     LT Bk Fac          CARE D         18      Revised from
                                                                                CARE BB-
Him Steel Pvt Ltd                     LT Bk Fac          CARE D         500     Revised from
                                                                                CARE BB-
Him Valves And Regulators Pvt Ltd     LT Bk Fac          CARE D         181.4   Revised from
                                                                                CARE BB-
India Pesticides Ltd                  LT Bk Fac          CARE A-        98      Reaffirmed
(reduced from 13.20crs)
India Pesticides Ltd                  Long/ST Bk Fac     CARE A- /CARE  480     Reaffirmed
                                                         A2+
(enhanced from 45.00crs)
J P Extrusiontech Ltd                 LT Bk Fac          CARE BB+       60.2    Reaffirmed
(reduced from 6.70crs)
J P Extrusiontech Ltd                 LT/ST Bk Fac       CARE BB+ /CARE 35      Reaffirmed
                                                         A4
J.D. Industries                       LT Bk Fac          CARE B         76.4    Assigned
Kalpanabiri Manufacturing Company Pvt LT Bk Fac          CARE BB+       120     Assigned
Ltd
Khushi Foods Ltd                      LT Bk Fac          CARE D         73.7    Issuer not
                                                                                cooperating
Ladhar Paper Mills                    LT Bk Fac          CARE BB-       116.2   Reaffirmed
(Reduced from Rs. 11.84 cr.)
Madhepura Electric Locomotives Pvt LtdLT Bk Fac          CARE A-        11630   Assigned
Mahavir Foods                         LT Bk Fac          CARE D         70      Issuer not
                                                                                cooperating
Maruti Nandan Food Products Pvt. Ltd. LT Bk Fac          CARE D         150     Issuer not
                                                                                cooperating
Rajshree Construction                 LT Bk Fac          CARE BB        51.4    Issuer not
                                                                                cooperating
Shavyaa Geotex                        LT Bk Fac          CARE B+        59.6    Reaffirmed
(reduced from 7.09crs)
Shavyaa Geotex                        LT/ST Bk Fac       CARE B+/CARE A445      Reaffirmed
Shree Bajrang Sales Pvt Ltd           LT Bk Fac          CARE B         50      Assigned
Siddhi Weaves Pvt Ltd                 LT Bk Fac          CARE BBB-      735.8   Assigned
Sidhivinayak Rice Mills               LT Bk Fac          CARE D         41.4    Issuer not
                                                                                cooperating
Singur Cold Storage Pvt Ltd           LT Bk Facility     CARE B+        79.2    Assigned
Sudhanva Engineers And Builders       LT Bk Facility     CARE B+        30      Reaffirmed
Terram Geosynthetics Pvt Ltd          LT / Shortterm Bk  CARE BBB       100     Revised from
                                      Fac                /CARE A3+              CARE BBB- /
                                                                                CARE A3
(enhanced from 8.00crs)
The Alleppey Co. Ltd                  LT / Shortterm Bk  CARE BB /CARE  207     Revised from
                                      Fac                A4                     CARE BB-
                                                                                /CARE A4
Unique Impex                          LT Bk Fac          CARE B+        45      Assigned
Usha Breco Ltd                        LT Bk Fac          CARE A         1258    Reaffirmed
(enhanced from 45.75Crs)
Vishakha Irrigation Pvt Ltd           LT Bk Fac          CARE BB+       200.7   Revised from
                                                                                CARE BB
Vishakha Irrigation Pvt Ltd           LT/ Short- term Bk CARE BB+ /CARE 80      Assigned
                                      Fac                A4
Vizag Rebars Pvt Ltd                  LT Bk Fac          CARE B+        950     Revised from
                                                                                CARE BB
(Enhanced from 5crs)
Wind Urja India Pvt. Ltd.             LT Bk Fac– TL      CARE A+(SO)^   1106.6  Reaffirmed
[reduced from 131.45 crore]/^Backed by credit enhancement in the form of unconditional and
irrevocable corporate guarantee extended by IL&FS Energy Development Company Ltd.[rated CARE A+,
Stable] to the long-term bank facilities of Wind Urja India Pvt. Ltd. (WUIPL)
--------------------------------------------------------------------------------------------
$: 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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