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CARE ratings for Indian debt instruments-Nov 9
November 9, 2017 / 6:16 AM / 2 months ago

CARE ratings for Indian debt instruments-Nov 9

    Nov 9 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 8, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bhagatjee Steels Pvt Ltd              ST Bk Fac          CARE A4        5.7     Assigned
Choudhary Enterprises                 ST Bk Fac          CARE A4        1.05    Assigned
Coastal Aqua Pvt Ltd                  ST Bk Fac – EPC    CARE A4        300     Reaffirmed
Coastal Aqua Pvt Ltd                  ST Bk Fac – LC/BG  CARE A4        6       Assigned

Coastal Aqua Pvt Ltd                  ST Bk Fac – CEL    CARE A4        15      Assigned
Ganpati Foods                         ST Bk Fac          CARE A4        130     Assigned
Dharalifescience Pvt Ltd              ST Bk Fac          -              -       Withdrawn
Il & Fs Financial Services Ltd        CP (CP) issue      CARE A1+       27500   Reaffirmed
Kanak Textiles                        ST Bk Fac          CARE A4        30      Assigned
Kreedai Exim                          ST Bk Fac          CARE A4        150     Assigned
Major Life Style Pvt Ltd              ST Bk Fac          -              -       Withdrawn
M.D. Hygiene Pvt Ltd                  ST Bk Fac          CARE A4        21.8    Assigned
Neha International Ltd                ST Bk Fac          CARE A3        23.5    Reaffirmed
Prognosys Medical Systems Pvt Ltd     ST Bk Fac          CARE A4        75      Assigned
Trivista Steel And Power Pvt Ltd      ST Bk Fac          CARE A4        5       Revised from
                                                                                CARE A4
Vakrangee Ltd                         ST Bk Fac          CARE A1        100     Revised from
                                                                                CARE A3+
Vishnu Cars Pvt Ltd                   ST Bk Fac          CARE A4+       16      Reaffirmed

MEDIUM TERM RATINGS:
-------------------
The Ugar Sugar Works Ltd              Fixed Deposit      CARE BBB-      300     Assigned
                                      programme



LONG TERM RATINGS:
-------------------
Anjanee Cement Corporation            LT Bk Fac          CARE B+        100     Assigned
Banco Aluminium Ltd                   LT Bk Fac          CARE A         150     Reaffirmed
Banco Aluminium Ltd                   LT/ST Bk Fac       CARE A/A1      400     Reaffirmed
Bhagatjee Steels Pvt Ltd              LT Bk Fac          CARE B         161.5   Assigned
Boshan Developers Pvt Ltd             LT Bk Fac          CARE BB        16.4    Assigned
Choudhary Enterprises                 LT Bk Fac          CARE BB-       4       Assigned
Coastal Aqua Pvt Ltd                  LT Bk Fac – TL     CARE BB+       45.8    Reaffirmed
Dharalifescience Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Dharalifescience Pvt Ltd              LT/ST Bk Fac       -              -       Withdrawn
Ganpati Foods                         LT Bk Fac          CARE BB-       160     Assigned
Indian Bank                           Proposed           CARE AAA       10000*  Assigned
                                      Infrastructure
                                      Bond Issue
*Includes a green shoe option of Rs.500 crore
Jay Agro Industries                   LT Bk Fac          CARE D*        165.1   Revised from
                                                                                CARE B+
* ISSUER NOT COOPERATING
Kanak Textiles                        LT Bk Fac          CARE B+        40      Assigned
Kedar Cotton Industries               LT Bk Fac          CARE B+        9.8     Reaffirmed
Khedut Cotex Pvt Ltd                  LT Bk Fac          CARE B+        84      -
Issuer not cooperating
M.D. Hygiene Pvt Ltd                  LT Bk Fac          CARE BB-       65.6    Assigned
M.D. Hygiene Pvt Ltd                  LT/ ST Bk Fac      CARE BB- / A4  6       Assigned
Neha International Ltd                LT Bk Fac          CARE BBB-      5.6     Reaffirmed
Paras Gottam And Company              LT /ST Bk Fac      CARE B+ /CARE  100     Reaffirmed
                                                         A4
Prognosys Medical Systems Pvt Ltd     LT Bk Fac          CARE B+        25      Assigned
Shri Ram Ginning Pressing And Oil MillLT Bk Fac          CARE B+        116.4   Reaffirmed
Simon India Ltd                       LT Bk Fac          CARE BBB+ *    750     Assigned
*Backed by irrevocable and unconditional corporate guarantee of Zuari Global Ltd (ZGL)
Soaring Spirits Pvt Ltd               LT Bk Fac          CARE BB        60      Assigned
The Tata Power Co. Ltd                NCDs               CARE AA        15000   Assigned
Trivista Steel And Power Pvt Ltd      LT Bk Fac          CARE BB-       170     Revised from
                                                                                CARE BB-
Vakrangee Ltd                         LT Bk Fac          CARE A         1960    Revised from
                                                                                CARE BBB
Vishnu Cars Pvt Ltd                   LT Bk Fac          CARE BB+       584     Reaffirmed
Zuari Sugar And Power Ltd             LT Bk Fac          CARE BBB+ *    1000    Assigned
*Backed by irrevocable and unconditional corporate guarantee of Zuari Global Ltd (ZGL)


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