October 16, 2018 / 5:12 AM / 8 months ago

CARE ratings for Indian debt instruments-Oct 16

    Oct 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 15, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Apex Construction                     ST Bk Fac          CARE A4        70      Reaffirmed
Dhanashree Electronics Ltd            STBk Fac           CARE A4        85      Reaffirmed
(Reduced from 10.00 Crore)
Girdhar Tents Pvt Ltd                 ST Bk Fac          CARE A4        50      Assigned

India Power Corporation Ltd           ST Bk Fac          CARE A3        1265.4  Revised from
                                                                                CARE A2
(reduced from Rs.131.00 crore Crore), (Credit watch with negative implications)
Khudiram Cold Storage Pvt Ltd         ST Bk Fac          CARE A4        1       Reaffirmed
Ladhuram Toshniwal Sons (Proprietor-  ST Bk Fac          CARE A4        35      Reaffirmed
Ladhuram Toshniwal Sons Pvt Ltd)
Magnum Aviation Pvt Ltd               ST Bk Fac          CARE A4        85      Revised from
                                                                                CARE D
(Reduced from 13.50 crore Crore)
Mamta Cold Storage                    ST Bk Fac          CARE A4        61.4    Assigned
Marutii Quality Products Pvt Ltd      ST Bk Fac          CARE A4        15      Reaffirmed
Pagan Paints And Chemicals Pvt Ltd    ST Bk Fac          CARE A4+       23      Assigned
Shruti Drugs Pvt Ltd                  ST Bk Fac          CARE A4        15      Assigned
Shree Parashnath Re-Roolling Mills LtdST Bk Fac          CARE D         539.2   Revised from
                                                                                CARE A4
Singur Cold Storage Pvt Ltd           ST Bk Facility     CARE A4        5       Reaffirmed

LONG TERM RATINGS:
-------------------
Apex Construction                     LT Bk Fac          CARE BB        60      Reaffirmed
Ashapura Intimates Fashion Ltd        LT Bk FacCC        CARE BBB-      575     Revised from
                                                                                CARE A
(Credit watch with negative implications)
Ashapura Intimates Fashion Ltd        LT Bk Fac-TL       CARE BBB-      150     Revised from
                                                                                CARE A
(Credit watch with negative implications)
Baazar Style Retail Pvt Ltd           LT Bk Fac          CARE BBB+      750     Revised from
                                                                                CARE BBB
(enhanced from 15.00 Crore)
Bright Fame International             LT / ST Bk Fac     CARE B+/A4     80      -
ISSUER NOT COOPERATING
Brindavan Hydropower Pvt Ltd          LT Bk Fac          CARE BBB       668.1   Reaffirmed
(reduced from 74.58 Crore)
Deepak Builders & Engineers India Pvt LT BkFac           CARE BB-       1750    Assigned
Ltd
Deepak Singal Engineers & Builders PvtLT BkFac           CARE BB-       70      Assigned
Ltd
Dhanashree Electronics Ltd            LT BkFac           CARE BB        130     Reaffirmed
(Enhanced from 5.00 Crore)
Girdhar Tents Pvt Ltd                 LT Bk Fac          CARE BB        83.6    Assigned
Gokul Ginning & Oil Industries        LT Bk Fac          CARE B+        60      Reaffirmed
Great Eastern Energy Corporation Ltd  LT Bk Fac          -              -       Withdrawn
Great Eastern Energy Corporation Ltd  NCDs               CARE BB+       770.8   -
ISSUER NOT COOPERATING
Grih Laxmi Sales & Marketing          LT Bk Fac          CARE B         80      Assigned
Hariom Aquaculture Pvt Ltd            LT Bk Fac          CARE BB        137     -
ISSUER NOT COOPERATING
India Power Corporation (Bodhgaya) LtdLT Bk Fac          CARE BBB (SO)  170     Revised from
                                                                                CARE A-
India Power Corporation Ltd           Proposed NCD issue -              -       Withdrawn
India Power Corporation Ltd           Outstanding NCD    CARE BBB       800     Revised from
                                      issue                                     CARE A-
(Credit watch with negative implications)
India Power Corporation Ltd           LT BkFac           CARE BBB       3264.3  Revised from
                                                                                CARE A-
(reduced from Rs.333.90 crore Crore)
Ivrcl Chengapalli Tollways Ltd        LT Bk Fac          CARE D         8619    Reaffirmed
Khudiram Cold Storage Pvt Ltd         LT Bk Fac          CARE B+        118.1   Reaffirmed
Ladhuram Toshniwal Sons (Proprietor-  LT BkFac           CARE BB        300     Reaffirmed
Ladhuram Toshniwal Sons Pvt Ltd)
(Enhanced from 11.50 Crore)
Magnum Aviation Pvt Ltd               LT Bk Fac          CARE B         95      Revised from
                                                                                CARE D
Marutii Quality Products Pvt Ltd      LT Bk Fac          CARE B+        65.2    Reaffirmed
(reduced from 11.17 Crore)
Pacific Global                        LT Bk Fac          CARE B         195     -
ISSUER NOT COOPERATING
Pagan Paints And Chemicals Pvt Ltd    LT Bk Fac          CARE BB-       35      Assigned
Shivachaya Sugarcane Bio Products Pvt LT Bk Fac          CARE B+        140     Assigned
Ltd
Shree Parashnath Re-Roolling Mills LtdLT Bk Fac          CARE D         1669.5  Revised from
                                                                                CARE B+
Shruti Drugs Pvt Ltd                  LT Bk Fac          CARE B         40      Assigned
Shruti Drugs Pvt Ltd                  Proposed LT Bk Fac CARE B         7.5     Assigned
Singh Education Society               LT Bk Fac          CARE B         47.8    Assigned
Singur Cold Storage Pvt Ltd           LT Bk Facility     CARE B+        79.2    Reaffirmed
Sri Laxmi Vinayaka Agro Foods         Long -term Bk Fac  CARE B+        158     -
ISSUER NOT COOPERATING
Subico Food Products                  LT Bk Fac          CARE B+        74.7    -
ISSUER NOT COOPERATING
Subico Food Products                  LT / ST Bk Fac     CARE B+/A4     25      -
ISSUER NOT COOPERATING
Welspun Flooring Ltd                  LT Bk Fac          CARE A- (SO)   6050    Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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