October 15, 2018 / 4:05 AM / a month ago

CARE ratings for Indian debt instruments-Oct 15

    Oct 15 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 12, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ambey Mining Pvt Ltd                  ST Bk Fac          CARE A1        2750    Reaffirmed
(enhanced from 200.0 Crore)
B.G. Shirke Construction Technology PvCP-Proposed#       CARE A1        -       Withdrawn
Ltd
# Carved out of sanctioned working capital limits of the company
Eastern Copper Manufacturing Company  ST Bk Fac          CARE A4        120     Reaffirmed
Pvt Ltd
Gagan Ferrotech Ltd                   ST Bk Fac          CARE A3+       -       Withdrawn
Narayani Coke Pvt Ltd                 ST Bk Fac          CARE A3        660     Reaffirmed
(enhanced from 56.30 Crore)
National Co-Operative Development     CP                 CARE A1+       18880   Assigned
Corporation
Neo Capricorn Plaza Pvt. Ltd.         ST Bk Fac          CARE A4 (SO)   50
“Issuer not cooperating; Revised from <CARE A4+(SO); Issuer not cooperating > Based on best
available information”
Sri Balaji Agro                       ST Bk Faculties    CARE A4        4.7
Issuer not cooperating, based on best available information
Success Exim Pvt Ltd                  ST Bk Fac          CARE A4        -       Withdrawn
Talin Modular Office Furniture SystemsShort -term BkFac  CARE A4        20
Pvt Ltd
Issuer not cooperating, basedon best available information
Trans Organics India Pvt Ltd          ST Bk Fac          CARE A4        35      Reaffirmed
Trimula Sponge Iron Pvt Ltd           ST Bk Fac          CARE A4+       10
Revised from CARE A4

LONG TERM RATINGS:
-------------------
Adm Solar Power And Infrastructure PvtLT Bk Fac          CARE B         51.5    Assigned
Ltd
Ambal Modern Rice Mill                LT Bk Fac          CARE BB-       187.5   Assigned
Ambey Mining Pvt Ltd                  LT Bk Fac          CARE A         500     Reaffirmed
Bajpe Zakariya                        LT Bk Fac          CARE B+        58.5    Assigned
Birdhichand Ghanshyamdas              LT Bk Fac          CARE BB-       123.4   Assigned
Danem Heavy Industries Pvt Ltd        LT Bk Fac          CARE BB-       300     Assigned
Dhanlaxmi Infrastructure Pvt Ltd      LT Bk Fac          CARE A-(SO)    1312.7  Assigned
Eashwara Sai Cotton Industries        LT Bk Fac          CARE BB-       43.3
Revised from CARE B+; (Reduced from 5.94 Crore)
Eastern Copper Manufacturing Company  LT Bk Fac          CARE B         38.8
Pvt Ltd
Revised from CARE C;
Gagan Ferrotech Ltd                   LT Bk Fac          CARE BBB       -       Withdrawn
Icici Home Finance Company Ltd        Senior Bonds       CARE AAA (SO)* 7990    Reaffirmed
(reduced from Rs.979 Crore); *based on Letter of comfort from ICICI Bank Ltd (rated CARE AAA ,
CARE A1+
Incredible Realcon Pvt Ltd            LT Instruments     CARE D         6000
                                      (Non- Convertible
                                      Debentures)
Revised from CARE B (SO);Negative Outlook: Negative]
Leel Electricals Ltd                  LT Bk Fac          CARE BB        4550
Revised from CARE BBB;
Leel Electricals Ltd                  LT/STBk Fac        CARE BB/A4     5950
Revised from CARE BBB; Negative/ CARE A3
Levita Polypack Llp                   LT Bk Fac          CARE B+        80      Assigned
Narayani Coke Pvt Ltd                 LT Bk Fac          CARE BBB-,     0.5     Reaffirmed
Narayani Coke Pvt Ltd                 Long/ ST Bk Fac    CARE BBB-/A3   90      Reaffirmed
National Co-Operative Development     LT Bonds           CARE AA        5000    Assigned
Corporation
National Co-Operative Development     Long /ST BkFac     CARE AA/A1+    200000  Assigned
Corporation
Neo Capricorn Plaza Pvt. Ltd.         LT Bk Fac          CARE BB (SO)   882.7
“Issuer not cooperating; Revised from <CARE BB+(SO); Issuer not cooperating > Based on best
available information”
Omega Enterprises                     LT                 CARE BB        69.6    Assigned
Pebble Bay Developers Pvt Ltd         Issuer Rating      CARE BB (IS)   -
“Issuer not cooperating; Revised from <CARE BB+(IS); Issuer not cooperating > Based on best
available information”
Puliani And Puliani                   Long -term Bk Fac  CARE B         75
Issuer not cooperating; Based on Best available information
Rising Sun Power Pvt Ltd              Long -term Bk Fac  CARE D         52.6
Issuer not cooperating; Based on best available information
Sri Balaji Agro                       Long -term Bk Fac  CARE B+        46
Issuer not cooperating, based on best available information
Success Exim Pvt Ltd                  LT Bk Fac          CARE BB-       -       Withdrawn
Talin Modular Office Furniture SystemsLong -term BkFac   CARE BB-       70
Pvt Ltd
Issuer not cooperating, basedon best available information
Trans Organics India Pvt Ltd          LT Bk Fac          CARE BB-       65      Reaffirmed
Trimula Sponge Iron Pvt Ltd           LT Bk Fac          CARE BB+       60
Revised from CARE BB-;


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