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CARE ratings for Indian debt instruments-Nov 7
November 7, 2017 / 6:27 AM / a month ago

CARE ratings for Indian debt instruments-Nov 7

    Nov 7 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 6, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Arvind Og Nonwovens Pvt Ltd           ST Bk Fac          CARE A2        110     Reaffirmed
Bluestar Cottspin Pvt Ltd             ST Bk Fac          CARE A4        10      Reaffirmed
Central U.P Gas Ltd                   ST Bk Fac          CARE A1        750     Reaffirmed
Elegant Overseas                      ST Bk Fac          CARE A4        290     Reaffirmed

(enhanced from 21crs)
Ess Kay Fincorp Ltd. (Erstwhile Ess   CP Issues          CARE A3+       420     Reaffirmed
Kay Fincorp Pvt. Ltd.)
Fiorenza Granito Pvt Ltd              ST Bk Fac          CARE A4+       85.2    Revised from
                                                                                CARE A4
Jekin Enterprise                      ST Bk Fac          CARE A4        200     Issuer not
                                                                                cooperating
Kanhaiya Lal Agrawal                  ST Bk Facility     CARE A4        100     Reaffirmed
(Enhanced from 9.00crs)
Maa Uttar Bahini Agro Industries Pvt  ST Bk Fac          CARE A4        2.8     Issuer not
Ltd                                                                                cooperating
Muktar Automobiles Pvt Ltd            Short- term Bk Fac CARE A4        30      Reaffirmed
(enhanced from Rs. 1.00 crore)
P A Footwear P Ltd                    ST Bk Fac          CARE A2        299.5   Assigned
Pavit Ceramics Pvt Ltd                ST Bk Fac          CARE A4+       23.5    Reaffirmed
Permionics Membranes Pvt Ltd          ST Bk Fac          CARE A4        75      Reaffirmed
S.E.Power Ltd                         ST Bk Fac          CARE A4        25      Reaffirmed
(reduced from Rs.4.50 crore)
Sandhya Aqua Exports Pvt Ltd          ST Bk Fac          CARE A4+       840     Assigned
Sgs Marketing                         ST Bk Fac          CARE A4        55      Issuer not
                                                                                cooperating
Sri Ram Technopack Pvt Ltd            ST Bk Fac          CARE A4        2.5     Issuer not
                                                                                cooperating
Taurus Tiles Pvt Ltd                  ST Bk Fac          CARE A3 (SO)   15      Reaffirmed
The Climate Makers (Sales)            ST Bk Fac          CARE A4        50      Reaffirmed

LONG TERM RATINGS:
-------------------
Adhikar Microfinance Pvt Ltd          LT Bk Fac          CARE BB        500     Reaffirmed
Arvind Goodhill Suit Manufacturing PvtLong- Term Bk Fac  CARE BBB+      224.5   Reaffirmed
Ltd
Arvind Goodhill Suit Manufacturing PvtLT/ST Bk Fac       CARE BBB+      200     Reaffirmed
Ltd                                                      /CARE A2
(Enhanced from Rs.10.00 crore)
Arvind Og Nonwovens Pvt Ltd           Long- Term Bk Fac  CARE BBB       325.1   Reaffirmed
B. G. Chitale                         LT Bk Fac          CARE BBB+      493.8   Issuer not
                                                                                cooperating
(reduced from 53.71crs)
Bhilwara Green Energy Ltd             Sub ordinated      -              -       Withdrawn
                                      NonConvertible
                                      Debentures
Bluestar Cottspin Pvt Ltd             LT Bk Fac          CARE BB-       142.2   Revised from
                                                                                CARE B+
Divya Shree Industries                LT Bk Fac          CARE B+        71.2    Issuer not
                                                                                cooperating
Elegant Overseas                      LT Bk Fac          CARE BB-       8.5     Reaffirmed
Ess Kay Fincorp Ltd. (Erstwhile Ess   NCD issue (Tier II)-              -       Reaffirmed
Kay Fincorp Pvt. Ltd.)
Ess Kay Fincorp Ltd. (Erstwhile Ess   LT Fac (Tier II)   CARE BBB       200     Reaffirmed
Kay Fincorp Pvt. Ltd.)
Ess Kay Fincorp Ltd. (Erstwhile Ess   NCD issue (Tier II)CARE BBB       200     Reaffirmed
Kay Fincorp Pvt. Ltd.)
Ess Kay Fincorp Ltd. (Erstwhile Ess   LT Bk Fac          CARE BBB+      3672.2  Reaffirmed
Kay Fincorp Pvt. Ltd.)
Ess Kay Fincorp Ltd. (Erstwhile Ess   NCD issue          CARE BBB+      213.3   Reaffirmed
Kay Fincorp Pvt. Ltd.)
Ess Kay Fincorp Ltd. (Erstwhile Ess   NCD issue          CARE BBB+      94.5    Reaffirmed
Kay Fincorp Pvt. Ltd.)
Ess Kay Fincorp Ltd. (Erstwhile Ess   NCD issue          CARE BBB+      200     Reaffirmed
Kay Fincorp Pvt. Ltd.)               (unsecured)
Ess Kay Fincorp Ltd. (Erstwhile Ess   NCD issue          CARE BBB+      150     Reaffirmed
Kay Fincorp Pvt. Ltd.)                (unsecured)
Ess Kay Fincorp Ltd. (Erstwhile Ess   NCD issue          CARE BBB+      150     Reaffirmed
Kay Fincorp Pvt. Ltd.)
Ess Kay Fincorp Ltd. (Erstwhile Ess   NCD                CARE BBB+      150     Reaffirmed
Kay Fincorp Pvt. Ltd.)
Ess Kay Fincorp Ltd. (Erstwhile Ess   Principal          CARE PP-MLD    250     Reaffirmed
Kay Fincorp Pvt. Ltd.)                ProtectedMarket    BBB+
                                      Linked Debenture
Ess Kay Fincorp Ltd. (Erstwhile Ess   Principal          CARE PP-MLD    150     Reaffirmed
Kay Fincorp Pvt. Ltd.)                ProtectedMarket    BBB+
                                      Linked Debenture
Fiorenza Granito Pvt Ltd              LT Bk Fac          CARE BB+       404.2   Revised from
                                                                                CARE BB
Galaxy Stamping Pvt Ltd               LT Bk Fac          CARE BB        5.2     Reaffirmed
(Reduced from 1.37crs)
Galaxy Stamping Pvt Ltd               LT/ST Bk Fac       CARE BB /CARE  120     Reaffirmed
                                                         A4
Indrayani Sales Pvt Ltd               LT/ST Bk Fac       CARE B /CARE A4125     Assigned
Jekin Enterprise                      LT Bk Fac          CARE B+        250     Issuer not
                                                                                cooperating
K. Girdharlal International Pvt Ltd   LT Bk Fac          CARE A-        6500    Reaffirmed
Kanhaiya Lal Agrawal                  LT Bk Facility     CARE BB        40      Reaffirmed
(Enhanced from 1.00crs)
Kct Renewable Energy Pvt Ltd          Proposed LT        ProvCARE BBB+  8040    Assigned
                                      Instrument – NCDs
Kunal Spaces Pvt Ltd                  LT Bk Fac          CARE BBB-      763.3   Issuer not
                                                                                cooperating
L&T South City Projects Pvt Ltd       Proposed LT Bk Fac CARE BBB-      1900    Reaffirmed
(reduced from 252crs)
Maa Uttar Bahini Agro Industries Pvt  LT Bk Fac          CARE B+        34.6    Issuer not
Ltd                                                                             cooperating
Mohan Project Contractors Pvt Ltd     LT Bk Fac^         CARE BB- (SO)  100     Revised from
                                                                                CARE BBB- (SO)
^backed by unconditional and irrevocable corporate guarantee of Gayatri Projects Limited (GPL;
rated CARE BB-; Negative/CARE A4 )
Muktar Automobiles Pvt Ltd            LT Bk Fac          CARE B+        135.6   Revised from
                                                                                CARE B
(enhanced from Rs. 9.88 crore)
Oberoi Realty Ltd                     LT / ST Bk         CARE AA+ /CARE 3000^   Assigned
                                      facility (Line of  A1+
                                      Credit)*
*Letter of Credit Limit (interchangeable with BG Limits) of Rs.30 crores as sublimit of LoC
Limits and Bank Guarantee Limit (interchangeable with LC Limits) of Rs.30 crores as sublimit of
LoC Limit for Oberoi Realty Ltd./^Out of the total LoC Limit of Rs.300 crores, Rs. 150 crores is
earmarked for Oberoi Constructions Limited and Rs 150 crores is earmarked for Incline Realty
Private Limited with primary obligor being Oberoi Realty Limited.
M Sugars Ltd                          LT Bk Fac          CARE D         282.7   Revised from
                                                                                CARE B
P A Footwear P Ltd                    LT Bk Fac          CARE BBB+      100.5   Assigned
Parthas                               LT Bk Fac          CARE B+        200     Reaffirmed
(enhanced from 12.45crs)
Pavit Ceramics Pvt Ltd                LT Bk Fac          CARE BB+       47.1    Reaffirmed
(Reduced from 5.66crs)
Pavit Ceramics Pvt Ltd                LT/ST Bk Fac       CARE BB+/CARE  45      Reaffirmed
                                                         A4+
Permionics Membranes Pvt Ltd          LT Bk Fac          CARE BB-       60      Reaffirmed
Polysil Pipes                         Long/ST Bk Fac     CARE A /CARE   300     Reaffirmed
                                                         A2+
Radhegovindkripa Developers Pvt Ltd   LT Bk Fac          CARE BB        615.7   Revised from
                                                                                CARE BB-
S.E.Power Ltd                         LT Bk Fac          CARE BB        214.5   Revised from
                                                                                CARE BB+
(reduced from Rs.33.12 crore)
Sadaram Jining And Pressing IndustriesLT Bk Fac          CARE D         81.9    Revised from
                                                                                CARE B+
Sandhya Aqua Exports Pvt Ltd          LT/ST Bk Fac       CARE BB+ /CARE 390     Assigned
                                                         A4+
Satsangi Traders Pvt Ltd              LT Bk Fac          CARE BB+       90      Reaffirmed
(Enhanced from Rs.6.25 crore)
Satsangi Traders Pvt Ltd              LT/Shortterm Bk FacCARE BB+ /CARE 150     Reaffirmed
                                                         A4+
(Enhanced from Rs.12.00 crore)
Sgs Marketing                         LT Bk Fac          CARE B+        25      Issuer not
                                                                                cooperating
Sgs Marketing                         LT / ST            CARE B+/A4     20      Issuer not
                                                                                cooperating
Simoco Telecommunications (South Asia)LT Bk Fac          CARE D         150     Issuer not
Ltd                                                                             cooperating
Sri Ram Technopack Pvt Ltd            LT Bk Fac          CARE B+        49      Issuer not
                                                                                cooperating
Taurus Tiles Pvt Ltd                  LT BkFac           CARE BBB (SO)  333.5   Reaffirmed
(reduced from RS.35.81 crore)
Taurus Tiles Pvt Ltd                  LT/ST Bk Fac       CARE BBB (SO)  50      Reaffirmed
                                                         /CARE A3 (SO)
The Climate Makers (Sales)            LT Bk Fac          CARE BB-       30      Reaffirmed
Tufropes Pvt Ltd                      LT Bk Fac          CARE A+        65.3    Reaffirmed
Tufropes Pvt Ltd                      LT/ST Bk Fac       CARE A+ /CARE  500     Reaffirmed
                                                         A1+
--------------------------------------------------------------------------------------------
$: 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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