October 17, 2018 / 7:25 AM / in a month

CARE ratings for Indian debt instruments-Oct 17

    Oct 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 16, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ahuja Overseas                        ST Bk Fac          CARE A4        198     Reaffirmed
Dc Industrial Plant Services Pvt Ltd  ST Bk Facility     CARE D         100     Revised from
                                                                                CARE A4
Eshyan Infratech                      ST Bk Fac          CARE A4        40      Assigned
Navbharat Explosives Co. Ltd          ST Bk Fac          CARE D         75
(Issuer Not Cooperating)
Navbharat Fuse Co. Ltd                ST Bk Fac          CARE D         235
(Issuer Not Cooperating)
Pallavi Constructions                 ST Bk Fac          CARE A4        70      Assigned
Panama Petrochem Ltd                  ST Bk Fac          CARE A1        4440    Reaffirmed
Shrikishan And Company                ST Bk Fac          CARE A4+       230     Assigned
Shrikishan And Company Pvt Ltd        ST Bk Fac          CARE A4+       200     Assigned
Sunrise Silichem Industries Pvt Ltd   ST Bk Fac          CARE A3        50      Assigned
Superking Glass And Ceramics Pvt Ltd  ST Bk Fac          CARE A4+       10      Assigned
Tata International Ltd                ST Bk Fac-Nonfund  CARE A1        2300    Reaffirmed
                                      based
Tata International Ltd                CP                 CARE A1        3000    Reaffirmed
Tata International Ltd                CP (Carved Out)*   CARE A1+       500     Reaffirmed
* Carved out of sanctioned working capital limits
Vishwa Glass And Ceramics Pvt Ltd     ST Bk Fac          CARE A3        40      Assigned

LONG TERM RATINGS:
-------------------
Ahuja Overseas                        LT Bk Fac          CARE BB-       7       Reaffirmed
Arcotech Ltd                          LT Bk Fac          CARE D         2668.1  Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Arcotech Ltd                          LT/Shortterm Bk    CARE D/D       2050    Revised from
                                      Fac                                       CARE BB-/
                                                                                CARE A4
(Issuer Not Cooperating)
Dc Industrial Plant Services Pvt Ltd  LT Bk Facility     CARE D         20      Revised from
                                                                                CARE C
Eshyan Infratech                      LT Bk Fac          CARE B+        20      Assigned
Gaap Tuff Glass Llp                   LT Bk Fac          CARE B+        82      Revised from
                                                                                CARE B
(Reduced from Rs 9.18 Crores)/(Removed from Non-Cooperation)
Kalani Marketing Pvt Ltd              LT/ST Bk Fac       -              -       Withdrawn
Navbharat Explosives Co. Ltd          LT Bk Fac          CARE D         85
(Issuer Not Cooperating)
Navbharat Fuse Co. Ltd                LT Bk Fac          CARE D         313
(Issuer Not Cooperating)
Pallavi Constructions                 LT Bk Fac          CARE B         70      Assigned
Panama Petrochem Ltd                  LT Bk Fac          CARE A         450     Revised from
                                                                                CARE A+
Rajasthan Bal Kalyan Samiti           LT Bk Fac          CARE BB        51.9    Assigned
Rama Marketing Enterprises            LT/ST Bk Fac       -              -       Withdrawn
Revathi Engineering Pvt Ltd           LT Bk Fac          CARE B+        30      Assigned
Revathi Engineering Pvt Ltd           LT/ ST BkFac       CARE B+/A4     25      Assigned
Sanaka Educational Trust              LT Bk Fac          CARE B-        494.2   Revised from
                                                                                CARE B
(Issuer Not Cooperating)
Satyesh Brinechem Pvt Ltd             LT BkFac           CARE BBB+      4289    Reaffirmed
Satyesh Brinechem Pvt Ltd             LT/STBk Fac        CARE BBB+/A3+  1221    Reaffirmed
Shrikishan And Company                LT Bk Fac          CARE BB        20      Assigned
Shrikishan And Company Pvt Ltd        LT Bk Fac          CARE BB        30      Assigned
Sree Shiva Ginning And Pressing       LT Bk Fac          CARE BB-       64.4    Reaffirmed
(Reduced from Rs.6.97 crore Crore)/(Removed from Non-Cooperation)
Sri Sri Gruhanirman India Pvt Ltd     LT Bk Fac          CARE B+        180     Assigned
Sunrise Silichem Industries Pvt Ltd   LT Bk Fac          CARE BBB-      504.5   Assigned
Superking Glass And Ceramics Pvt Ltd  LT Bk Fac          CARE BB+       85.6    Assigned
Surajkiran Renewable Resources Pvt LtdLT Bk Fac- TL      CARE BBB       2610    Assigned
Tata International Ltd                LT Bk Fac-Fund     CARE A+        5250    Reaffirmed
                                      based
(Enhanced from 325.00 Crore)
Tata International Ltd                NCDs               CARE A+        12000   Reaffirmed
Vishwa Glass And Ceramics Pvt Ltd     LT Bk Fac          CARE BBB-      60      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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