November 8, 2017 / 9:50 AM / a month ago

CARE ratings for Indian debt instruments-Nov 8

    Nov 8 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 7, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Apollo Rajshree Hospitals Pvt Ltd     ST Bk Fac          CARE A1+ (SO)  60      Reaffirmed
(enhanced from 4.50crs)
Gopinath Chem-Tech Ltd                ST Bk Fac          CARE A4        72.8    Issuer not
                                                                                cooperating
Gulshan Polyols Ltd                   ST Bk Fac          CARE A1+       55.6    Reaffirmed
(reduced from 12.18crs)
Jimmy Mode International              ST Bk Fac          -              -       Withdrawn
P.N. Gadgil And Sons                  ST Bk Fac          CARE A1        50      Reaffirmed
Prathishta Weaving And Knitting Ltd   ST Bk Fac          CARE A2        47      Reaffirmed
S Chand And Company Ltd               ST Bk Fac          CARE A1+       30      Revised from
                                                                                CARE A1
S Chand And Company Ltd               Proposed CP        CARE A1+       200*    Revised from
                                                                                CARE A1
*carved out of the sanctioned working capital limits of the company
S. R. Ballary                         ST Bk Fac          CARE A4+       45      Assigned
The Delhi Flour Mills Co. Ltd         ST Bk Fac          CARE A3+       36.7    Reaffirmed
(Enhanced from 0.57crs)
LONG TERM RATINGS:
-------------------
Aakar Motors                          LT Bk Fac          -              -       Withdrawn
Aatulya Lifecare Pvt Ltd              LT Bk Fac          CARE B         52      Assigned
Adani Agri Logistics (Mansa)Ltd       LT Bk Fac          CARE BBB       289.4   Assigned
Adani Agri Logistics (Mansa)Ltd       LT/ST Bk Fac       CARE BBB /CARE 39      Assigned
                                                         A3+
Adani Agri Logistics (Moga)Ltd        LT Bk Fac          CARE BBB       289.4   Assigned
Adani Agri Logistics (Moga)Ltd        LT/ST Bk Fac       CARE BBB /CARE 39      Assigned
                                                         A3+
Aguamenti Ifmr Capital 2017(OriginatorSeries A2 PTC      ProvCARE BBB   -       Assigned
Light Microfinancepvt Ltd)                               (SO)
Aguamenti Ifmr Capital 2017(OriginatorSeries A1 PTC      ProvCARE BBB+  -       Assigned
Light Microfinancepvt Ltd)                               (SO)
Apollo Rajshree Hospitals Pvt Ltd     LT Bk Fac          CARE AA- (SO)  450     Reaffirmed
Avadh Builders                        LT Bk Fac          -              -       Withdrawn
Balaji Packplast Pvt Ltd              LT Bk Fac          CARE B+        107.1   Reaffirmed
Brijbhoomi Expressway Pvt Ltd         LT Bk Fac          CARE BBB       1377.4  Reaffirmed
(reduced from Rs.145.23 crore)
Bst Textile Mills Pvt Ltd             Bk Facilites –     CARE BBB       150     Assigned
                                      Fund based – LT –CC
Btm Corp Ltd                          LT Bk Fac          CARE D         270     Revised from
                                                                                CARE BB
Btm Industries Ltd                    LT Bk Fac          CARE D         270     Revised from
                                                                                CARE BB-
Ferani Hotels Pvt. Ltd.               LT Bk Fac (TL)     CARE BBB+      3700    Reaffirmed
Ferani Hotels Pvt. Ltd.               Long- Term Bk Fac  CARE BBB+      150     Reaffirmed
                                      (Overdraft)
Gopinath Chem-Tech Ltd                LT Bk Fac          CARE BB+       15      Issuer not
                                                                                cooperating
Gopinath Chem-Tech Ltd                LT/ Short- Term Bk CARE BB+/CARE  198     Issuer not
                                      Fac                A4                     cooperating
Gulshan Polyols Ltd                   LT Bk Fac          CARE A+        1994.4  Reaffirmed
(enhanced from 170.51crs)
Jimmy Mode International              LT Bk Fac          -              -       Withdrawn
Keshvanand Ceramic Industries         LT Bk Fac          CARE B         41      Reaffirmed
Majestic Exports                      LT Bk Fac          CARE BBB-      54.5    Assigned
Majestic Exports                      Long/ST Bk Fac     CARE BBB-      160     Revised from
                                                         /CARE A3               CARE BB+ /
                                                                                CARE A4+
Modern Metaalics Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Natsteel Asia Pte Ltd                 LT Bk Fac*         CARE AA- (SO)  30600   Revised from
                                                                                CARE AA (SO)
* equivalent to USD 460 million converted at 66.52 INR|USD
Nipman Fasteners Industries Pvt. Ltd  LT Bk Fac          CARE BBB       1847.7  Reaffirmed
(Enhanced from 71.19crs)
P.N. Gadgil And Sons                  LT Bk Fac          CARE A         225     Reaffirmed
(reduced from from 32.50crs)
P.N. Gadgil And Sons                  LT/ ST Bk Fac      CARE A /CARE A12050    Reaffirmed
(enhanced from 195.00crs)
Prakash Electrical Engineering        LT Bk Fac          CARE BB-       100     Assigned
Corporation
Prathishta Weaving And Knitting Ltd   LT Bk Fac          CARE BBB+      3       Reaffirmed
(reduced from 0.50crs)
S Chand And Company Ltd               LT Bk Fac          CARE AA-       800     Revised from
                                                                                CARE A+
S. R. Ballary                         LT Bk Fac          CARE BB+       54      Assigned
S.B. Impex                            LT Bk Fac          CARE B+        100     Assigned
Sagar And Company                     LT Bk Fac          CARE BB+       350     Assigned
Sukhmaa Buildcon Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Sunil Charitable Society              LT Bk Fac          CARE BBB-      1073.2  Reaffirmed
T S Global Holdings Pte Ltd           LT Bk Fac*         CARE AA- (SO)  100000  Revised from
                                                                                CARE AA (SO)
* equivalent to USD 1500 million converted at 66.66 INR|USD
The Delhi Flour Mills Co. Ltd         LT Bk Fac          CARE BBB       2873.3  Reaffirmed
(Enhanced from 254.51crs)
Vindhyachal Expressway Pvt Ltd        LT Bk Fac          CARE BBB       5107.6  Reaffirmed
(enhanced from Rs.500.60 crore)
Wainganga Expressway Pvt Ltd          LT Bk Fac          CARE BBB       3221.7  Reaffirmed
(reduced from Rs.325.77 crore)
Zuariinfraworld India Ltd             LT Bk FacStand by  CARE A-(SO)    1890    Reaffirmed
                                      LOC
--------------------------------------------------------------------------------------------
$: 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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