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CARE ratings for Indian debt instruments-Oct 23
October 23, 2017 / 5:27 AM / a month ago

CARE ratings for Indian debt instruments-Oct 23

    Oct 23 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 20, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Dipesh Construction Company           ST Bk Fac          CARE A4        120     Assigned
National Engineering Industries Ltd   ST Bk Fac          CARE A1+       6600    Reaffirmed
National Engineering Industries Ltd   CP^                CARE A1+       1800    Reaffirmed
^The aggregate of CP/STD and other working capital borrowings shall be within the sanctioned
fund based working capital limits

National Engineering Industries Ltd   CP$                CARE A1+       600     Reaffirmed
$ by earmarking fund based bank limit
Ostro Jaisalmer Pvt Ltd               ST Bk Fac          CARE A2        280     Assigned
Standard Castings Pvt Ltd             ST Bk Fac          CARE A4        20      Assigned
Vardeep Petro Chemical Pvt Ltd        ST Bk Fac          CARE A4        141.7   Assigned

LONG TERM RATINGS:
-------------------
Atlas Pet Plas Industries Ltd         LT Bk Fac          CARE B+        132     Assigned
Dipesh Construction Company           LT Bk Fac          CARE BB        30      Assigned
Geosys India Infrastructures Pvt Ltd  LT Bk Fac          CARE BB-       50      Assigned
Madhya Bharat Power Corporation Ltd   Bk Fac             CARE BBB-(SO)/ 800     Assigned
                                                         A3 (SO)
Mayfair Fabrics Ltd                   LT Bk Fac          CARE B         58.6    Withdrawn
National Engineering Industries Ltd   LT Bk Fac          CARE AA        4945    Revised from
                                                                                CARE AA-
enhanced from 377 CR
Ostro Jaisalmer Pvt Ltd               LT Bk Fac (CC)     --                     Withdrawn
CARE has withdrawn the rating assigned to the bank facilities (cash credit) of Ostro Jaisalmer
Pvt Ltd with immediate effect, as the company has repaid the aforementioned facility in full and
there is no amount outstanding under the said facility as on date
Ostro Jaisalmer Pvt Ltd               LT Bk Fac (TL)     CARE BBB+      2842.1  Revised from
                                                                                CARE BBB
reduced from 313.00 CR
Srm Motors Pvt Ltd                    LT Bk Fac          CARE B+        190     Assigned
Standard Castings Pvt Ltd             LT Bk Fac (TL)     CARE B         71.3    Assigned
Standard Castings Pvt Ltd             Bk Fac             CARE B /A4     70      Assigned
Vardeep Petro Chemical Pvt Ltd        LT Bk Fac          CARE BB        83.3    Assigned
Waaneep Solar Pvt Ltd                 LT Bk Fac          CARE BBB+      3561    Reaffirmed
enhanced from 237.76 CR

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