November 29, 2017 / 7:46 AM / 17 days ago

CARE ratings for Indian debt instruments-Nov 29

    Nov 29 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 28, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bhola Nath Zaveri Jewellers Pvt Ltd   ST Bk Fac          -              -       Withdrawn
Chintoo Creations                     ST Bk Fac          CARE A4        60      -
Issuer not cooperating
Fine Blanking Pvt Ltd                 ST Bk Fac          CARE A4        3       -
Issuer not cooperating

G.S.Roller Flour Mills Pvt Ltd        ST Bk Fac          CARE A4        9       -
Issuer not cooperating
Hi-Tech Power & Steel Ltd             ST Bk Fac          CARE A3        360     Assigned
Hi-Tech Resistors Pvt Ltd             ST Bk Fac          CARE A4        24      Assigned
Hollis Vitrified Pvt Ltd              ST Bk Fac          CARE A4        27.5    -
Issuer not cooperating
Indian Oil-Adani Gas Pvt Ltd          ST Bk Fac          CARE A2+       2150    Assigned
Intergen Energy Ltd                   ST Bk Fac          CARE A4        100     Assigned
Kiran Gems Pvt Ltd                    ST Bk Fac          CARE A+        24760   Revised from
                                                                                CARE A
Max Healthcare Institute Ltd          ST Bk Fac          CARE A1+       7.6     Reaffirmed
Mono Steel India Ltd                  ST Bk Fac          CARE A3        2180    Assigned
Noken Vitrified Pvt Ltd               ST Bk Fac          CARE A4        35      Reaffirmed
Radico Nv Distilleries Maharashtra LtdST Bk Fac          CARE A2        30      Assigned
Rashtriya Chemicals And Fertilizers   CP (CP) Issue      CARE A1+       10000   Assigned
Ltd
Samasta Microfinance Ltd              Proposed CP        CARE A1        1000    Assigned
The Western India Plywoods Ltd        ST Bk Fac          CARE A3        70      Reaffirmed
Upper India Steel Manufacturing And   ST Bk Fac          CARE A4        199     Reaffirmed
Engineering Co. Ltd
Spandana Sphoorty Financialltd        Series A PTC       CARE A+(SO)    496.2   Assigned

LONG TERM RATINGS:
-------------------
Airtravel Enterprises India Ltd       LT Bk Fac          CARE BB        600     Reaffirmed
Airtravel Enterprises India Ltd       Long/ST Bk Fac     CARE BB /CARE  80      Reaffirmed
                                                         A4
Alps Hospitals Ltd                    LT Bk Fac          CARE A+        340     Reaffirmed
(enhanced from Rs.18 crore)
Apical Exim Pvt Ltd                   LT Bk Fac          CARE BB+       200     Revised from
                                                                                CARE BB
(reduced from 25.00 CR)
Ayan Foods                            LT Bk Fac          CARE B+        55      Reaffirmed
(enhanced from 3.79 CR)
Bhola Nath Zaveri Jewellers Pvt Ltd   LT Bk Fac          -              -       Withdrawn
Devki Devi Foundation                 LT Bk Fac          CARE A+        1279.2  Reaffirmed
(enhanced from Rs.107.92 crore)
Eveready Spinning Mills Pvt Ltd       LT Bk Fac          CARE A-        2963.8  Revised from
                                                                                CARE BBB+
(reduced from 333.80 CR)
Fine Blanking Pvt Ltd                 LT Bk Fac          CARE B+        55      -
Issuer not cooperating
G.S.Roller Flour Mills Pvt Ltd        LT Bk Fac          CARE BB-       60      -
Issuer not cooperating
Hi-Tech Power & Steel Ltd             LT Bk Fac          CARE BBB-      790     Assigned
Hi-Tech Resistors Pvt Ltd             LT Bk Facility     CARE B+        32.2    Assigned
Hollis Vitrified Pvt Ltd              LT Bk Fac          CARE BB-       109.9   -
Issuer not cooperating
Indian Oil-Adani Gas Pvt Ltd          LT Bk Fac          CARE A-        9712    Reaffirmed
(increased from Rs.945 crore)
Intergen Energy Ltd                   LT Bk Fac          CARE BB        15      Assigned
Intergen Energy Ltd                   LT/ST Bk Fac       CARE BB /CARE  35      Assigned
                                                         A4
Jay Bharat Steel Corporation          LT Bk Fac          CARE BBB-      425     Assigned
Jm Financial Products Ltd             Proposed NCDs      CARE AA        25000   Assigned
Kiran Gems Pvt Ltd                    LT Bk Fac          CARE A1        2100    Reaffirmed
Kiran Jewelry                         LT Bk Fac          CARE A+        1350    Revised from
                                                                                CARE A
Kiran Jewels (India)                  LT Bk Fac          CARE A+        100     Revised from
                                                                                CARE A
Logan Minerals Pvt Ltd                LT Bk Fac          CARE BB+       175     Revised from
                                                                                CARE BB
Mahavir Coal Resources Pvt Ltd        LT Bk Facility     CARE BB        250     Reaffirmed
(enhanced from Rs.11.25 crore)
Maruti Bitumen Pvt Ltd                Long/ST Bk Fac     CARE BB- /CARE 122     Reaffirmed
                                                         A4
Max Healthcare Institute Ltd          LT Bk Fac          CARE A+        3448.2  Reaffirmed
(enhanced from Rs.314.82 crore)
Megastar Foods Pvt Ltd                LT Bk Fac          CARE BB-       160     -
Issuer not cooperating
Mnk Educational Society               LT Bk Fac          CARE BB-       120     Assigned
Mono Steel India Ltd                  Long/ST Bk Fac     CARE BBB /     520     Assigned
                                                         CARE A3
Nasa Brain And Spine Centre           LT Bk Fac/ ST Bk   CARE BB- /CARE 100     Assigned
                                      Fac                A4
Noken Vitrified Pvt Ltd               LT Bk Fac          CARE B+        317.1   Revised from
                                                                                CARE B
(reduced from 32 CR)
Popular Autoworks Pvt Ltd             LT Bk Fac          CARE BB        133.6   Reaffirmed
(enhanced from 4.83 CR)
Popular Autoworks Pvt Ltd             Long/ST Bk Fac     CARE BB /CARE  327.5   Reaffirmed
                                                         A4
(reduced from 41.44 CR)
Powerlite Electricals (India) Pvt Ltd LT Bk Fac          -              -       Withdrawn
Radico Nv Distilleries Maharashtra LtdLT Bk Fac          CARE A-        600     Revised from
                                                                                CARE A
(enhanced from 30.00 CR)
Rajheramb Properties                  LT Bk Fac          CARE BB        161.3   -
Issuer not cooperating
Rajparis Civil Constructions Ltd      LT Bk Fac          CARE BB        150     Assigned
Reena Tinaaz Pvt Ltd                  LT Bk Fac          CARE BBB-      1750    Assigned
Sadbhav Infrastructure Project Ltd    Long/ST Bk Fac     CARE A- /CARE  4000    Assigned
                                                         A2+
Samasta Microfinance Ltd              LT Bk Fac          CARE A         77.1    Revised from
                                                                                CARE BB+
Samasta Microfinance Ltd              NCD                CARE A         50      Revised from
                                                                                CARE BB+
Samasta Microfinance Ltd              NCD (unsecured,    CARE A         50      Revised from
                                      subordinated)                             CARE BB+
Shritirupatisteelcast Ltd             LT Bk Fac          CARE BBB-      320     Revised from
                                                                                CARE BB+
The Western India Plywoods Ltd        LT Bk Fac          CARE BBB-      318.7   Reaffirmed
(reduced from 32.67 CR)
Upper India Steel Manufacturing And   LT Bk Fac          CARE BB-       516     Reaffirmed
Engineering Co. Ltd
(reduced from Rs.57.60 crore)
Yeshashvi Steels And Alloys Pvt Ltd   LT Bk Fac          CARE B         78      Reaffirmed
(Reduced from 7.95 CR)
Yogakshemam Loans Ltd                 LT Bk Fac          CARE BB+       150     Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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