October 13, 2017 / 4:29 AM / in 9 days

CARE ratings for Indian debt instruments-Oct 13

    Oct 13 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 12, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Avinash Constructions                 ST Bk Fac          CARE A4        1       Assigned
Baba Malleshwar Rice Mill Pvt. Ltd    ST Bk Fac          CARE A4        2.1
Issuer not cooperating
Chawla International                  ST Bk Fac          CARE A4        72.5

Issuer not cooperating
Fullerton India Home Finance Co. Ltd. CP (CP) issue      CARE A1+       2500    Reaffirmed
enhanced from Rs. 100 crore
Future Retail Ltd                     ST Bk Fac (Non     CARE A1+       25000   Reaffirmed
                                      Fund based)
Future Retail Ltd                     CP                 CARE A1+       6500    Reaffirmed
(carved out of working capital limits)
Future Retail Ltd                     CP (Standalone)^   CARE A1+       4500    Reaffirmed
^ As per undertaking submitted by FEL the outstanding CP including working capital borrowings
will not exceed lower of the sanctioned working capital limits
Lotus Texpark Ltd                     ST Bk Fac@         CARE A1+ (SO)  90      Revised from
                                                                                CARE A1 (SO)
'@ Ratings are based on credit enhancement in form of unconditional and irrevocable corporate
guarantee from Trident Limited (rated CARE AA-; Stable / CARE A1+).
Maxheal Laboratories Pvt Ltd          ST Bk Fac          CARE A4        100
Issuer not cooperating
Oilex Engineers (India) Pvt Ltd       ST Bk Fac          CARE A4+
Issuer not cooperating
Rimjhim Ispat Ltd                     ST Bk Fac          CARE A3        1850    Assigned
Sandhya Samrat Construction And       ST Bk Fac          CARE A4        35
Services Pvt. Ltd
Issuer not cooperating
Sri Lakshmivenkateshwara Rice Mill    ST Bk Fac          CARE A4        6.5
Issuer not cooperating
Trendy Homewares                      ST Bk Fac          CARE A3        25      Assigned
Trident Ltd                           ST Bk Fac          CARE A1+       3000    Revised from
                                                                                CARE A1
reduced from 350 CR

LONG TERM RATINGS:
-------------------
Ally Pharma Options Pvt Ltd           Bk Fac             CARE BB- /A4   100
Issuer not cooperating
Alpha Design Technologies Pvt Ltd     LT Bk Fac          --                     Withdrawn
Alpha Design Technologies Pvt Ltd     ST Bk Fac          --                     Withdrawn
Avinash Constructions                 LT Bk Fac          CARE B         79      Assigned
Baba Malleshwar Rice Mill Pvt. Ltd    LT Bk Fac          CARE BB-       90.4
Issuer not cooperating
Chawla International                  LT Bk Fac          CARE B+        5
Issuer not cooperating
Creativeline Cotspin Pvt Ltd          LT Bk Fac          --                     Withdrawn
Dentcare Dental Lab Pvt Ltd           LT Bk Fac          CARE BB        314.5   Reaffirmed
enhanced from 16.45 CR
Fullerton India Home Finance Co. Ltd. LT Debt programme  CARE AA+       10000   Reaffirmed
enhanced from Rs. 500 crore
Future Retail Ltd                     LT Bk Fac (Fund    CARE AA-       32500   Reaffirmed
                                      Based)
H M Industrial Pvt Ltd                LT Bk Fac          CARE BB+       379
Issuer not cooperating
H M Industrial Pvt Ltd                Bk Fac             CARE BB+ /A4   30
Issuer not cooperating
Imlrt November 2015                   Series A PTCs      --                     Withdrawn
Investors Clinic Infratech Pvt Ltd    LT Bk Fac          CARE BB        200     Assigned
Lotus Texpark Ltd                     LT Bk Fac@         CARE AA- (SO)  894.8   Revised from
                                                                                CARE A+ (SO)
reduced from 103.28 CR; '@ Ratings are based on credit enhancement in form of unconditional and
irrevocable corporate guarantee from Trident Limited (rated CARE AA-; Stable / CARE A1+).
M L Rice Mills                        LT Bk Fac          CARE B+        245     Reaffirmed
M. M. Yarns Pvt Ltd                   LT Bk Fac          CARE BB-       1208
Issuer not cooperating
M. M. Yarns Pvt Ltd                   Bk Fac             CARE BB- /A4   50
Issuer not cooperating
Maxheal Laboratories Pvt Ltd          Bk Fac             CARE BB- /A4   73.8
Issuer not cooperating
Navyug Industries                     LT Bk Fac          CARE BB        150     Assigned
Issuer not cooperating
Oilex Engineers (India) Pvt Ltd       LT Bk Fac          CARE BB+
Issuer not cooperating
Oilex Engineers (India) Pvt Ltd       Bk Fac             CARE BB+ /A4+
Issuer not cooperating
Rimjhim Ispat Ltd                     LT Bk Fac          CARE BBB-      2673.9  Assigned
Sandhya Samrat Construction And       LT Bk Fac          CARE BB        35
Services Pvt. Ltd
Issuer not cooperating
Shiv Agrevo Ltd                       LT Bk Fac          CARE BBB       20      Assigned
Sopaan Jeweller                       LT Bk Fac          CARE B+        120     Assigned
Sri Lakshmivenkateshwara Rice Mill    LT Bk Fac          CARE B+        48.4
Issuer not cooperating
The Nilgiri Dairy Farm Pvt Ltd        LT-Bk Fac          CARE A (SO)    37@     Reaffirmed
'@ The facilities are backed by unconditional and irrevocable guarantee from Future Consumer
Limited (erstwhile Future Consumer Enterprises Limited) rated CARE A/Stable/A1 (re-affirmed in
RCM dated September 29, 2017).
Trendy Homewares                      LT Bk Fac          CARE BBB-      15      Assigned
Trendy Homewares                      Bk Fac             CARE BBB- /A3  15      Assigned
Trident Ltd                           LT Bk Fac          CARE AA-       17646.3 Revised from
                                                                                CARE A+
reduced from 2,334.85 CR
Trident Ltd                           Bk Fac             CARE AA- /A1+  12000   Revised from
                                                                                CARE A+ /
                                                                                CARE 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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