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CARE ratings for Indian debt instruments-Oct 3
October 3, 2017 / 7:07 AM / 2 months ago

CARE ratings for Indian debt instruments-Oct 3

    Oct 3 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 29, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aarti Suitings Pvt Ltd                ST Bk Fac          CARE A4        0.5     Assigned
Ami Lifesciences Pvt Ltd              ST Bk Fac          CARE A3+       150     -
Birla Tmt Holdings Pvt Ltd            CP                 CARE A1+       6000    Assigned
Century Textiles And Industries Ltd   CP issue           CARE A1+       22000   Assigned

Daya Engineering Works Pvt Ltd        ST Bk Fac          CARE A3        5       Reaffirmed
Dcm Shriram Industries Ltd            ST Bk Fac          CARE A1+       935.5   Revised from
                                                                                CARE A2
(enhanced from 89.51)
Greenland Paper Mills Ltd             ST Bk Fac          CARE A4        14      Reaffirmed
(enhanced from 1.10 CR)
Grenic Tiles Pvt Ltd                  ST Bk Fac          CARE A4        20      Reaffirmed
Hemang Construction                   ST Bk Fac          -              55      Withdrawn
Housing Development Finance Corp      ST Bk Fac          CARE A1+       138840.8Reaffirmed
Ltd
(reduced from 18,032.88 CR)
Housing Development Finance Corp      CP                 CARE A1+       750000  Reaffirmed
Ltd
Icon Sleeper Track Pvt Ltd            ST Bk Fac          CARE A3        10      Reaffirmed
Jm Financial Ltd (Revise)             CP issue           CARE A1+       10000   Assigned
Jocil Ltd                             ST Bk Fac          CARE A2+       150     Revised from
                                                                                CARE A1
K P N Textile Mills Pvt Ltd           ST Bk Fac          CARE A4        17.7    Reaffirmed
Kay Kay Exports                       ST Bk Fac          CARE A4        59      Reaffirmed
Panyam Cements And Mineral Industries ST Bk Fac          CARE D         93.2    Reaffirmed
Ltd
Patil Rail Infrastructure Pvt Ltd     ST Bk Fac          CARE A3        30      Reaffirmed
Piramal Enterprises Ltd               CP issue           CARE A1+       90000   Assigned
Premier Plastics                      ST Bk Fac          CARE A4        9       -
Issuer not cooperating
S.D. Corporation Pvt Ltd              Proposed CP issue^ CARE A1+(SO)   1000*   -
^ credit enhancement in the form of an unconditional, irrevocable and revolving DSRA Guarantee
provided by Shapoorji Pallonji and Company Private Ltd (SPCPL, rated CARE AA+, Stable)
The Pushpak Textiles Pvt Ltd          ST Bk Fac          -              -       Withdrawn
Turquoise Investments And Finance Pvt CP                 CARE A1+       7250    Assigned
Ltd
Virtue Marketing Pvt Ltd              ST Bk Fac          CARE A4+       200     Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Dcm Shriram Industries Ltd            Medium-term        CARE A+(FD)    150     Revised from
                                      Instruments –                             CARE A-(FD)
                                      Fixed Deposit
Jocil Ltd                             ST FD              CARE A2+(FD)   200     Revised from
                                                                                CARE A1(FD)

LONG TERM RATINGS:
-------------------
Aarti Suitings Pvt Ltd                LT Bk Fac          CARE BB        144.8   Assigned
Ami Lifesciences Pvt Ltd              LT Bk Fac          CARE BBB       125.9   Revised from
                                                                                CARE BBB-
(enhanced from Rs.10.71 crore)
Ami Lifesciences Pvt Ltd              LT/ST Bk Fac       CARE BBB /CARE 305     Revised from
                                                         A3+                    CARE BBB-/
                                                                                CARE A3
Annai Constructions                   LT Bk Fac          CARE BB        50      Assigned
Dakshin Budhakhali Improvement SocietyLT Bk Fac          CARE BB        141.1   Reaffirmed
Daya Engineering Works Pvt Ltd        LT Bk Fac          CARE BBB-      100     Reaffirmed
Daya Engineering Works Pvt Ltd        LT/ST Bk Fac       CARE BBB-      25      Reaffirmed
                                                         /CARE A3
Dcm Shriram Industries Ltd            LT Bk Fac          CARE A+        5286.6  Revised from
                                                                                CARE A-
(enhanced from 421.11)
Divi’S Laboratories Ltd               LT Bk Fac          CARE AA+       250     Reaffirmed
Divi’S Laboratories Ltd               LT/ST Bk Fac       CARE AA+ /CARE 2430    Reaffirmed
                                                         A1+
Gemini Cv Trust Sep 2017 (Originator: Series A PTC       CARE AAA(SO)   -       Assigned
Hinduja Leyland Finance)
Gravity Ferrous Pvt Ltd               LT Bk Fac          CARE BBB-      150.9   Revised from
                                                                                CARE BB+
(reduced from Rs.17.15 crore)
Greenko Clean Energy Projects Pvt Ltd Proposed NCD issue CARE A+(SO)    2000    Assigned
                                      ^
^proposed to be backed by unconditional and irrevocable corporate guarantee of Greenko Energies
Private Limited (GEPL; rated CARE A+; Stable/CARE A1+ ).
Greenland Paper Mills Ltd             LT Bk Fac          CARE BB        53.9    Revised from
                                                                                CARE BB-
(reduced from 5.89 CR)
Grenic Tiles Pvt Ltd                  LT Bk Fac          CARE BB-       74.1    Reaffirmed
Hemang Construction                   LT Bk Fac          -              20      Withdrawn
Housing Development Finance Corp      Issuer Rating      AAA (Is)       -       Reaffirmed
Ltd
Housing Development Finance Corp      LT Bk Fac          CARE AAA       45750.8 Reaffirmed
Ltd
(reduced from 6,219.25 CR)
Icon Sleeper Track Pvt Ltd            LT Bk Fac          CARE BBB-      22.5    Reaffirmed
(reduced from Rs.3.00 crore)
Icon Sleeper Track Pvt Ltd            LT/ST Bk Fac       CARE BBB-      170     Reaffirmed
                                                         /CARE A3
Jocil Ltd                             LT Bk Fac          CARE A         300     Revised from
                                                                                CARE A+
K P N Textile Mills Pvt Ltd           LT Bk Fac          CARE BB        84      Reaffirmed
(reduced from 9.56 CR)
Kay Kay Exports                       LT Bk Fac          CARE BB-       130     Reaffirmed
Kn Bijapura Solar Energy Pvt. Ltd     LT Bk Fac          CARE BBB-      935     Assigned
Kn Indi Vijaypura Solar Energy Pvt.   LT Bk Fac          CARE BBB-      915     Assigned
Ltd
Kn Muddebihal Solar Energy Pvt. Ltd   LT Bk Fac          CARE BBB-      935     Assigned
Kn Sindagi Solar Energy Pvt. Ltd      LT Bk Fac          CARE BBB-      235     Assigned
M. D. Suitings Pvt Ltd                LT Bk Fac          CARE BBB-      100     -
Issuer not cooperating
Mahima Gems                           LT Bk Fac          CARE BB+       3       Revised from
                                                                                CARE BB
Mahima Gems                           LT/ST Bk Fac       CARE BB+ /CARE 180     Revised from
                                                         A4+                    CARE BB /
                                                                                CARE A4+
Mehrab N Irani And Company            LT Bk Fac          CARE BB-       125     Reaffirmed
Navayuga Quazigund Expressway Pvt Ltd LT Bk Fac-ECB      -              -       Withdrawn
Navayuga Quazigund Expressway Pvt Ltd LT Bk Fac-TL       CARE BB+       20303.5 Reaffirmed
New Lakshmi Jewellery                 LT Bk Fac          CARE BB-       175     Reaffirmed
Ntpc Tamil Nadu Energy Co. Ltd        LT Bk Fac (FB)     CARE A-        15000   Revised from
                                                                                CARE BBB+
(enhanced from 1,000 CR)
Ntpc Tamil Nadu Energy Co. Ltd        LT/ST Bk Fac       CARE A- /CARE  2000    Revised from
                                      (Non-fund based)   A2                     CARE BBB+ /
                                                                                CARE A3+
Panyam Cements And Mineral Industries LT Bk Fac          CARE D         300     Reaffirmed
Ltd
Panyam Cements And Mineral Industries NCD                CARE D         978.6   Reaffirmed
Ltd
Patil Rail Infrastructure Pvt Ltd     LT Bk Fac          CARE BBB-      600     Reaffirmed
Patil Rail Infrastructure Pvt Ltd     LT/ST Bk Fac       CARE BBB-      861.8   Reaffirmed
                                                         /CARE A3
(reduced from 96.76 CR)
Poddar Diamonds Ltd                   LT Bk Fac          CARE BBB-      700     Reaffirmed
Premier Plastics                      LT Bk Fac          CARE B+        121     -
Issuer not cooperating
Shivram Synthetic Pvt Ltd             LT Bk Fac          CARE BB        100     -
Issuer not cooperating
Shri Ram Agro Sciences Pvt Ltd        LT Bk Fac          CARE B+        150     -
Issuer not cooperating
Shri Vinayak Logistic                 LT Bk Fac          CARE B         162.5   Assigned
Sri Rama Marketing                    LT Bk Fac          CARE BB        150     Assigned
The Pushpak Textiles Pvt Ltd          LT Bk Fac          -              -       Withdrawn
Toni Industries Pvt Ltd               LT Bk Fac          CARE B         86      Reaffirmed
(reduced from 10.00 CR)
Ummeed Housing Finance Pvt Ltd        LT Bk Fac          CARE BBB-      750     Assigned
Village Financial Services Pvt Ltd    LT Bk Fac          CARE BBB-      5000    Reaffirmed
(enhanced from Rs.451.77 crore)
Virtue Marketing Pvt Ltd              LT Bk Fac          CARE BB+       150     Reaffirmed
Visage Holdings And Finance Pvt Ltd   Sub-ordinated Debt CARE BB+       120     Reaffirmed
                                      issue
Visage Holdings And Finance Pvt Ltd   LT Bk Fac          CARE BBB-      770     Reaffirmed
(enhanced from 50.00 CR)
Visage Holdings And Finance Pvt Ltd   NCD-I              CARE BBB-      210     Reaffirmed
Visage Holdings And Finance Pvt Ltd   NCD-I              CARE BBB-      120     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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