November 30, 2017 / 4:53 AM / 13 days ago

CARE ratings for Indian debt instruments-Nov 30

    Nov 30 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 29, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Advance Metering Technology Ltd       ST Bk Fac          CARE A3        40      Revised from
                                                                                CARE A4
Aercomfort Pvt Ltd                    ST Bk Fac          CARE A4        52.5    Assigned
Ajai Builders                         ST Bk Fac          CARE A4        150     Reaffirmed

(enhanced from 11.50 CR)
Avon Meters Pvt Ltd                   ST Bk Fac          CARE A4+       800     Assigned
Drt-Anthea Aroma Chemicals Pvt Ltd    ST Bk Fac (Fund    CARE A2+       6250    Revised from
                                      Based)                                    CARE A2
Drt-Anthea Aroma Chemicals Pvt Ltd    ST Bk Fac (Non     CARE A2+       240     Revised from
                                      Fund Based)                               CARE A2
Eastern Copper Manufacturing Company  ST Bk Fac          CARE A4        120     Assigned
Pvt Ltd
Focuz Corporation Pvtltd              ST Bk Fac: Non     --                     Withdrawn
                                      Fund Based- BG
G.K. Sales Corporation                ST Bk Fac          CARE A4        10
Issuer not cooperating
Gasgen Ferro Alloys Llp               ST Bk Fac          --                     Withdrawn
Greenlam Industries Ltd               ST Bk Fac          CARE A1+       2600    Revised from
                                                                                CARE A1
Jsw Projects Ltd                      ST Bk Fac          CARE A1+       350     Reaffirmed
(reduced from 50 CR)
Jyothy Laboratories Ltd               CP                 CARE A1+       1000    Reaffirmed
Kasuya Gpp Auto Products Pvt Ltd      ST Bk Fac          --                     Withdrawn
Mrmc Foods Pvt Ltd                    ST Bk Fac          CARE A4        152     Reaffirmed
Poornima Handicrafts Pvt Ltd          ST Bk Fac          CARE A4        50      Reaffirmed
Rama Phosphates Ltd                   ST Bk Fac          CARE A3        220     Assigned
Usha Martin Ltd                       ST Bk Fac          CARE A4+       22750   Revised from
                                                                                CARE A3
Vinayak International Housewares Pvt LST Bk Fac          CARE A4        170     Reaffirmed
Vipul Ltd                             ST Bk Fac          CARE A4        180     Reaffirmed
Wadhawan Global Capital Pvt Ltd.      CP (CP) issue      CARE A1+       5000    Reaffirmed
(enhanced from Rs.300 crore)
Yadav Construction Company            ST Bk Fac          --                     Withdrawn


LONG TERM RATINGS:
-------------------
Abhilasha 11 2017 (Originator: SpandanSeries A PTC#      CARE A+
Sphoorty Financialltd)
# Series APTCs are rated on Ultimate Payment basis
Advance Metering Technology Ltd       LT Bk Fac          CARE BBB-      350     Assigned
                                      (Proposed TL)
Advance Metering Technology Ltd       LT Bk Fac          CARE BBB-      30      Revised from
                                                                                CARE BB
Advance Metering Technology Ltd       Bk Fac             CARE BBB- /A3  20      Revised from
                                                                                CARE BB/ A4
Aercomfort Pvt Ltd                    LT Bk Fac          CARE BB-       37.5    Assigned
Ajai Builders                         LT Bk Fac          CARE BB-       24.7    Revised from
                                                                                CARE B+
(Reduced from 2.93 CR)
Atria Solar Power (Chamrajnagar) Pvt LLT Bk Fac          CARE BBB-      3597    Assigned
Avon Meters Pvt Ltd                   LT Bk Fac          CARE BB+       250     Assigned
Bareilly Highways Project Ltd         LT Bk Fac          CARE D         1400    Reaffirmed
Dehradun Highways Project Ltd         LT Bk Fac          CARE D         5284.5  Reaffirmed
Drt-Anthea Aroma Chemicals Pvt Ltd    LT Bk Fac (TL)     CARE A-        350     Reaffirmed
(reduced from Rs.50.00 crore)
Drt-Anthea Aroma Chemicals Pvt Ltd    LT Bk Fac (Fund    CARE A-        30      Reaffirmed
                                      Based)
Eastern Copper Manufacturing Company  LT Bk Fac          CARE C         38.8    Assigned
Pvt Ltd
Focuz Corporation Pvtltd              LT Bk Fac: Fund    --                     Withdrawn
                                      Based CC
Focuz Corporation Pvtltd              LT Bk Fac: TL      --                     Withdrawn
G.K. Sales Corporation                LT Bk Fac          CARE B+        50
Issuer not cooperating
Ganga Spintex Ltd                     LT Bk Fac          CARE BB        199     Assigned
Gasgen Ferro Alloys Llp               LT Bk Fac          --                     Withdrawn
Greenlam Industries Ltd               LT Bk Fac          CARE A+        2370    Reaffirmed
(reduced from 246.20 CR)
H.P. Cotton Casuals Pvt. Ltd.         LT Bk Fac (CC)     CARE BB+       220     Revised from
                                                                                CARE BB
H.P. Cotton Casuals Pvt. Ltd.         LT Bk Fac (TL 1)   CARE BB+       85.2    Revised from
                                                                                CARE BB
(Reduced from 11.47 cr)
H.P. Cotton Casuals Pvt. Ltd.         LT Bk Fac (TL 2)   CARE BB+       14      Revised from
                                                                                CARE BB /A4
(Reduced from 1.83 cr)
Ivrcl Chengapalli Tollways Ltd        LT Bk Fac          CARE D         7973    Reaffirmed
Jaiprakash Power Ventures Ltd         LT Bk Fac          CARE D         114746.5Reaffirmed
(reduced from 15,170.49 CR)
Jsw Projects Ltd                      LT Bk Fac          CARE A+        13947.3 Reaffirmed
(reduced from 1796.68 CR)
Jyothy Fabricare Services Ltd         NCD@^              CARE AA (SO)   400     Reaffirmed
'@ Backed by unconditional and irrevocable corporate guarantee of Jyothy Laboratories Limited; ^
The instrument is a Long term Redeemable Zero Coupon NCD with a bullet repayment at the end of
third year from the allotment date i.e. January 12, 2015
Jyothy Laboratories Ltd               NCDs               CARE AA        4000    Reaffirmed
Kasuya Gpp Auto Products Pvt Ltd      LT Bk Fac          --                     Withdrawn
Mrmc Foods Pvt Ltd                    LT Bk Fac          CARE BB-       463.8   Revised from
                                                                                CARE B+
Palette International                 LT Bk Fac          CARE BB                Reaffirmed
Parsa Kente Collieriesltd             LT Bk Fac          CARE BBB       2500    Reaffirmed
Patliputraequipments Pvt Ltd          LT Bk Fac          CARE BBB-      150
Issuer not cooperating
Poornima Handicrafts Pvt Ltd          LT Bk Fac          CARE BB-       16.8    Revised from
                                                                                CARE B
Pt Barasentosa Lestari                LT Bk Fac (TL)^    CARE BB (SO)   2440    Revised from
                                                                                CARE BBB- (SO)
^The facility is backed by unconditional and irrevocable corporate guarantee provided by GMR
Infrastructure Ltd. (GIL) rated CARE BB; Stable/CARE A4.
Raghuleela Builders Pvt Ltd           LT Bk Fac-TL       CARE BBB-      7600    Reaffirmed
(reduced from 810 CR)
Raghuleela Builders Pvt Ltd           LT Bk Fac-TL       CARE BBB- (SO) 8100    Reaffirmed
(reduced from 930 CR)
Raghuraj Exports Pvt Ltd              LT Bk Fac          CARE B         98.7    Assigned
Rama Phosphates Ltd                   LT Bk Fac          CARE BBB-      505     Assigned
Redd Mica Pvt Ltd                     LT Bk Fac          CARE B+        51.4    Revised from
                                                                                CARE B
(reduced from 6.25 CR)
Redd Mica Pvt Ltd                     Bk Fac             CARE B+ /A4    87.5    Revised from
                                                                                CARE B
Rupa Dyeing And Printing Pvt Ltd      LT Bk Fac          CARE BBB-      22.4    Revised from
                                                                                CARE BB+
(enhanced from Rs.0.58 CR)
Rupa Dyeing And Printing Pvt Ltd      Bk Fac             CARE BBB- /A3  40      Revised from
                                                                                CARE BB+ /A4+
Shri Gargi Buildcon Pvt Ltd           LT Bk Fac          --                     Withdrawn
Star Plastics                         LT Bk Fac          CARE BB        150     Assigned
Susee Premium Automobiles Pvt Ltd     LT Bk Fac          CARE B         144.8   Assigned
Vaidya Industries                     LT Bk Fac          CARE B         138.8
Issuer not cooperating
Vaidyav & I Infrastructure Pvt Ltd    LT Bk Fac          CARE B+        41      Revised from
                                                                                CARE BB-
Issuer not cooperating
Vinayak International Housewares Pvt LLT Bk Fac          CARE B+        15      Reaffirmed
Vipul Ltd                             LT Bk Fac          CARE BB        4251.2  Reaffirmed
(reduced from 432.00 CR)
Vivriti Windu 010 2017(Originator:    Series A PTC#      CARE A- (SO)           Provisional
Fusion Microfinancepvt Ltd)
# Series APTCs are rated on Ultimate Payment basis
Yadav Construction Company            LT Bk Fac          --                     Withdrawn

--------------------------------------------------------------------------------------------
$: 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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