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CARE ratings for Indian debt instruments-Oct 11
October 11, 2017 / 7:16 AM / 2 months ago

CARE ratings for Indian debt instruments-Oct 11

    Oct 11 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 10, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Adison Granito Pvt Ltd                ST Bk Fac          CARE A4        59      Assigned
Adithya Automotive Applications Pvt   ST Bk Fac          CARE A1        150     -
Placed on credit watch with developing implications
Anmol (India) Ltd                     ST Bk Fac          CARE A4        5       Assigned
Bej Ceramic                           ST Bk Fac          -              -       Withdrawn
Chamunda Nandikeshwar Mining          ST Bk Fac          CARE B+        20      -
Issuer not cooperating
Envirad Projects Pvt Ltd (Eppl)       ST Bk Fac          CARE A4+       250     Assigned
Friends Alloys                        ST Bk Fac          CARE A4+       30      -
Issuer not cooperating
Frontier Springs Ltd                  ST Bk Fac          CARE A4+       70      -
Grasim Industries Ltd                 ST Bk Fac          CARE A1+       4000    Reaffirmed
Grasim Industries Ltd                 CP (CP) Issue*     CARE A1+       5000    Reaffirmed
*Interchangeable between CP issue of Rs.500 crore and Short Term Bank Loan (STL) of equivalent
amount
Il&Fs Transportation Networks Ltd     Short--Term Bk Fac CARE A1        2300    Reaffirmed
                                      – TL
Il&Fs Transportation Networks Ltd     CPs                CARE A1        7500    Reaffirmed
Koneru Constructions Pvt Ltd          ST Bk Fac          CARE A4        85      Assigned
Mpm Pvt Ltd                           ST Bk Fac          CARE A4+       151.5   -
Issuer not cooperating
N.G. Projects Ltd                     ST Bk Fac          CARE A3+       410     Assigned
Reliance Jio Infocomm Ltd             CP                 CARE A1+       60000   Reaffirmed
Sham Electric Stores                  ST Bk Fac          CARE A4+       75      Assigned
Shreeji Pesticides Pvt Ltd            ST Bk Fac          CARE A2+       70      Reaffirmed
Issuer not cooperating
Shri Vardhman Industries              ST Bk Fac          CARE A4        40      Assigned
Suryoday Small Finance Bank Ltd       CP                 CARE A1        1750    Reaffirmed
Shreenathji Rasayan Pvt Ltd           ST Bk Fac          -              -       Withdrawn
Willowood Crop Sciences Pvt Ltd       ST Bk Fac          CARE A2+       100     Reaffirmed


LONG TERM RATINGS:
-------------------
Adison Granito Pvt Ltd                LT Bk Fac          CARE B+        935     Assigned
Adithya Automotive Applications Pvt   LT Bk Fac          CARE A-        100     -
Placed on credit watch with developing implications
Amba Enterprises Ltd                  LT Bk Fac          CARE BB        50      -
Issuer not cooperating
Anmol (India) Ltd                     LT Bk Fac          CARE BB        250     Assigned
Apco Chetak Expressway Pvt Ltd        LT Bk Fac – Fund   CARE A         5500    Assigned
                                      based
Apco Chetak Expressway Pvt Ltd        LT Bk Fac – Non    CARE A         1600    Assigned
                                      Fund based
Balaji Weft Pvt Ltd                   LT Bk Fac          CARE A-        418     Assigned
Balaji Weft Pvt Ltd                   LT/Shortterm Bk FacCARE A- / A2+  50      Assigned
Bej Ceramic                           LT Bk Fac          -              -       Withdrawn
Bhilai Engineering Corporation Ltd    FB - LT-CC         CARE B         1029    Assigned
Bhilai Engineering Corporation Ltd    Non-FB - LT/ ST-BGsCARE B / A4    4974.5  Assigned
Bhilai Engineering Corporation Ltd    Bk Fac-Non-FB -    CARE B / A4    1196.5  Assigned
                                      LT/ ST-LOC
Bombay Jewellery                      LT Bk Fac          CARE BB-       150     Assigned
Chamunda Nandikeshwar Mining          LT Bk Fac          CARE B+        50      -
Issuer not cooperating
Coffee Day Global Ltd                 LT Bk FacTL        CARE AA-       1354    Reaffirmed
Coffee Day Global Ltd                 LT Bk FacWorking   CARE AA-       3191.9  Reaffirmed
                                      capital
Dcr Distillery Pvt Ltd                LT Bk Fac          CARE D         140     Assigned
Eagle Infra Pvt Ltd                   LT Bk Fac          CARE BBB       1484    Assigned
Eagle Infra Pvt Ltd                   LT Bk Fac #        CARE BBB+      593.6   Assigned
# The rating is based on the credit enhancement in form of unconditional and irrevocable
corporate guarantee of Eagle Infra India Limited (EIIL; rated: CARE BBB+/Stable and CARE A3+).
Envirad Projects Pvt Ltd (Eppl)       LT Bk Fac          CARE BB        50      Assigned
Friends Alloys                        LT Bk Fac          CARE BB        160     -
Issuer not cooperating
Frontier Springs Ltd                  LT Bk Fac          CARE BB+       110     -
Issuer not cooperating
Gopalpur Port Ltd                     Proposed Non Fund  Provisional    500     Assigned
                                      Based Bk Fac – BG  CARE AA 
Gopalpur Port Ltd                     Proposed Fund      Provisional    250     Assigned
                                      Based – CC Limits  CARE AA 
Gopalpur Port Ltd                     Proposed LER*      Provisional    250     Assigned
                                      Limit – LT         CARE AA
                                      (Derivative) Facility
Gopalpur Port Ltd                     Proposed Fund      ProvCARE AA    14000   Assigned
                                      Based Bk Fac- LT TL(CLC^/ LOU^ )
^CLC – Capex Letter of Credit ^LOU – Letter of Undertaking for Buyer s Credit
Grasim Industries Ltd                 LT Bk Fac          CARE AAA       17500   Reaffirmed
Grasim Industries Ltd                 NCD Issue @ (LT    CARE AAA       3500    Reaffirmed
                                      umbrella rating)
@NCD o/s as on June 30, 2017 is Nil
Il&Fs Transportation Networks Ltd     Long - Term Bk Fac CARE A         16915   Reaffirmed
                                      – TL
Il&Fs Transportation Networks Ltd     Long - Term Bk Fac CARE A         500     Reaffirmed
                                      – CC
Il&Fs Transportation Networks Ltd     LT Instruments     CARE A         9250    Reaffirmed
                                      Debentures - NCD
Il&Fs Transportation Networks Ltd     Long / ST Bk Fac   CARE A /CARE A18900    Reaffirmed
Il&Fs Transportation Networks Ltd     LT Instruments     CARE AA+       7500    Reaffirmed
                                      Debentures- NCD
Il&Fs Transportation Networks Ltd     LT Instruments     CARE AAA       8150    Reaffirmed
                                      Debentures- NCD
Il&Fs Transportation Networks Ltd     LT Instruments     Provisional    2000    Reaffirmed
                                      Debentures- NCD    CARE AAA
Jaydeep Enterprise Llp                LT/ ST Bk Fac      CARE B+ /CARE  250     Assigned
                                                         A4
Koneru Constructions Pvt Ltd          LT Bk Fac          CARE BB        65      Assigned
Krishna Cotton                        LT Bk Fac          CARE B+        85.5    Reaffirmed
Matrushakti Industries Llp            LT Bk Fac          CARE BB-       74.4    Assigned
Mpm Pvt Ltd                           LT Bk Fac          CARE BB+       175     -
Issuer not cooperating
N.G. Projects Ltd                     LT Bk Fac          CARE BBB       240     Assigned
Nand Enterprise                       LT Bk Fac          CARE B+        75      Reaffirmed
Neogrowth Credit Pvt Ltd (Ncpl)       NCD                CARE BBB       1406    Reaffirmed
Niharika Threads Pvt Ltd              LT Bk Fac #        CARE A-        418     Assigned
# Bank facilities are backed by the unconditional and irrevocable corporate guarantee of Jindal
Worldwide Limited
Parsuram Arawali Highways Pvt Ltd     LT Bk Fac          Provisional    3555    Assigned
                                                         CARE A     
Reliance Jio Infocomm Ltd             LT Bk Fac          CARE AAA       450000  Reaffirmed
Reliance Jio Infocomm Ltd             NCD^               CARE AAA       60000   Reaffirmed
^ backed by unconditional and irremovable corporate guarantee from its parent Reliance
Industries Limited (RIL, rated CARE AAA; Stable/CARE A1+)
Sachin Agro Foods Llp                 LT Bk Fac          CARE B+        150     Assigned
Saha Infratech Pvt Ltd                NCD issue          CARE D         1600    Revised from
                                                                                CARE BB
Seth Construction Company             LT / ST Bk Fac     CARE BB+ / A4+ 150     Assigned
Sham Electric Stores                  LT Bk Fac          CARE BB+       24      Assigned
Shreeji Pesticides Pvt Ltd            LT Bk Fac          CARE BBB+      99.3    Reaffirmed
Shreenathji Rasayan Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Shreenathji Rasayan Pvt Ltd           LT/ST Bk Fac       -              -       Withdrawn
Shri Vardhman Industries              LT Bk Fac          CARE B+        17.5    Assigned
Sri Venkateswara Mechanical And       LT Bk Fac          CARE BB-       23.4    Assigned
Electrical Engineering Industries
Sri Venkateswara Mechanical And       LT/ST Bk Fac       CARE BB-       106.6   Assigned
Electrical Engineering Industries
Suryoday Small Finance Bank Ltd       NCD                CARE A-        1100    Reaffirmed
Suryoday Small Finance Bank Ltd       Bk Fac             CARE A- / A1   1500    Reaffirmed
Tata Steel Ltd                        LT Bk Fac          CARE AA        228000  Reaffirmed
Tata Steel Ltd                        NCD                CARE AA        71510   Reaffirmed
Tata Steel Ltd                        Perpetual Bond     CARE AA        22750   Reaffirmed
Trimurti Cotton Industries            LT Bk Fac          -              -       Withdrawn
Willowood Crop Sciences Pvt Ltd       LT Bk Fac          CARE BBB+      450     Reaffirmed
Z.H. Industries Pvt Ltd               LT Bk Fac          CARE B         200     Assigned
--------------------------------------------------------------------------------------------
$: 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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