October 19, 2018 / 6:54 AM / 8 months ago

CARE ratings for Indian debt instruments-Oct 19

    Oct 19 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 18, 2018.
COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aaren Intpro                          ST Bk Fac          CARE A4        50      Assigned
Agro Phos (India) Ltd                 ST Bk Fac          CARE A4+       60      Revised from
                                                                                CARE A3
Bharat Electrical Contractors &       ST Bk Fac          CARE A3+       2210    Reaffirmed
Manufacturers Pvt Ltd
Hi- Technocrats Pvt Ltd               ST Bk Fac          -              -       Withdrawn
J.G Spinning Mills Pvt Ltd            ST Bk Fac          CARE A4+       37.7    Reaffirmed
P.A.R.K. Felts Ltd                    ST Bk Fac          CARE A4        25      Assigned
Tmt Steels Pvt Ltd                    ST Bk Fac          CARE D         75      -
(Issuer not cooperating)
Vinshil Polychem                      ST Bk Fac          CARE A4        60      Reaffirmed
Virtue Marketing Pvt Ltd              ST Bk Fac          CARE D         200     -
(Issuer not cooperating)


LONG TERM RATINGS:
-------------------
Aaren Intpro                          LT Bk Fac          CARE B+        30      Assigned
Agro Phos (India) Ltd                 LT Bk Fac          CARE BB+       150     Revised from
                                                                                CARE BBB-
Avaada Power Pvt Ltd                  LT-Bk Fac –        CARE A-        1930    Reaffirmed
                                      Non-Fund Based
Avaada Power Pvt Ltd                  LT/ST-BkFac - Fund CARE A-/A2+    1250    Reaffirmed
                                      Based
Avaada Power Pvt Ltd                  LT/ST-Bk Fac –     CARE A-/A2+    2000    Reaffirmed
                                      Non-Fund Based
Bharat Electrical Contractors &       LT Bk Fac          CARE BBB       375     Reaffirmed
Manufacturers Pvt Ltd
Bharat Sheet Grah Pvt Ltd             LT Bk Fac          CARE B+        60.7    Assigned
Biaora To Dewas Highway Pvt Ltd       LT BkFac           CARE BBB-      12945.9 Reaffirmed
Fore Agro Llp                         LT Bk Fac          CARE B+        161     Assigned
Giriraj Renewables Pvt Ltd            LT Bk FacFund      CARE A-        2810    Reaffirmed
                                      Based-TL
Giriraj Renewables Pvt Ltd            Long/ST            CARE A-/A2+    1000    Reaffirmed
                                      BkFac-Non-Fund
                                      Based
Hi- Technocrats Pvt Ltd               LT Bk Fac          -              -       Withdrawn
J.G Spinning Mills Pvt Ltd            LT Bk Fac          CARE BB+       150.9   Reaffirmed
Mumbai Products (India)               LT Bk Fac          -              -       Withdrawn
P.A.R.K. Felts Ltd                    LT Bk Fac          CARE BB        67.3    Assigned
P.A.R.K. Felts Ltd                    LT/Short- term Bk  CARE BB /A4    37.7    Assigned
                                      Fac
Padam Shree Tex Feb Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Rithwik Projects Pvt Ltd              LT Bk Fac          CARE BBB-      3974.5  -
Placed on credit watch with negative implications)
Rithwik Projects Pvt Ltd              Long/ST Bk Fac     CARE BBB-/A3   16700   -
Placed on credit watch with negative implications
Sawp Steel Ltd (Erstwhile Sri Ananda  LT Bk Fac          CARE BB        120     -
Subbaraya Wire Products Ltd)
(Issuer not cooperating)
Tmt Steels Pvt Ltd                    LT Bk Fac          CARE D         75      -
(Issuer not cooperating)
Ui Fabricators Pvt Ltd                LT Bk Fac          CARE B+        120     -
(Issuer not cooperating)
Vajra Hospitality Llp                 LT Bk Fac          -              -       Withdrawn
Viney Gems & Jewellery Ltd            LT Bk Fac          -              -       Withdrawn
Vinshil Polychem                      LT Bk Fac          CARE B+        5       Reaffirmed
Virtue Marketing Pvt Ltd              LT Bk Fac          CARE D         150     -
(Issuer not cooperating)
--------------------------------------------------------------------------------------------
$: 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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