October 24, 2017 / 3:49 AM / a year ago

CARE ratings for Indian debt instruments-Oct 24

    Oct 24 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 23, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
-------                               ----------         ------        -------  ---------
Magna Electro Castings Ltd            ST Bk Fac          CARE A2        160     Reaffirmed
(enhanced from 15.25 CR)
Modern Power Services                 ST Bk Fac          CARE A4        30      -
(Issuer not cooperating)
Zircon Technologies (India) Ltd       ST Bk Fac          -              -       Withdrawn

Azure Greentech Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Azure Power (Karnataka) Pvt Ltd       LT Bk Fac          -              -       Withdrawn
Azure Sunshine Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Azure Surya Pvt Ltd                   LT Bk Fac -TL      -              -       Withdrawn
Gannon Dunkerley & Co. Ltd            LT Bk Fac (Fund    -              -       Withdrawn
Gannon Dunkerley & Co. Ltd            LT Bk Fac (TL)     -              -       Withdrawn
Gannon Dunkerley & Co. Ltd            Long/ST Bk Fac     -              -       Withdrawn
                                      (Non-fund based)
Goyal Enterprises                     LT Bk Fac          CARE B+        101.8   Assigned
Icici Prudential Mutual Fund          Close Ended        -              -       Withdrawn
                                      Capital Protection
                                      Oriented Fund
Lilamani Infra                        LT Bk Fac          CARE B+        552.7   -
(Issuer not cooperating)
Magna Electro Castings Ltd            LT Bk Fac          CARE BBB+      108.4   Reaffirmed
(reduced from 12.08 CR)
Modern Power Services                 LT Bk Fac          CARE BB-       20      -
(Issuer not cooperating)
Ncc Infraspace Pvt Ltd                LT Bk Fac          CARE BB+       100     -
(Issuer not cooperating)
Ncc Infraspace Pvt Ltd                LT/ST Bk Fac       CARE BB+/      320     -
                                                         CARE A4+
(Issuer not cooperating)
R. A. Parikh Jewellers                LT Bk Fac          -              -       Withdrawn
S.K.M.Cold Chain And Logistics        LT Bk Fac          -              -       Withdrawn
Zircon Technologies (India) Ltd       LT Bk Fac          -              -       Withdrawn
$: 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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