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CARE ratings for Indian debt instruments-Oct 30
October 30, 2017 / 4:40 AM / a month ago

CARE ratings for Indian debt instruments-Oct 30

    Oct 30 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 27, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Haldia Energy Ltd                     CP Issue*          CARE A1+       4500    Reaffirmed
* HEL maintains that the aggregate outstanding under CP and cash credit shall be within the
sanctioned working capital limit.
Haldia Petrochemicals Ltd             ST Bk Fac          CARE A1        31710   -
Issuer not cooperating; Based on best available information.

Infrastructure Leasing & Financial    CP issue (CP) / ST CARE A1+       17000   Reaffirmed
Services Ltd                          Debt (STD)
(enhanced from Rs.975 crore)
M. M. Ceramics And Ferro Alloys       ST Bk Fac          CARE A2+       780     Assigned
Rajratan Global Wire Ltd              ST Bk Fac          CARE A3+       403.6   Reaffirmed
Subh Laxmi Syntex Ltd                 ST Bk Fac          CARE A4        6       Reaffirmed

LONG TERM RATINGS:
-------------------
Al-Sami Agro Products Pvt Ltd         LT Bk Fac          CARE BB        391.8   Revised from
                                                                                CARE BB-
(reduced from 41.38 CR)
Bharat Industrial Enterprises Ltd     LT Bk Fac          CARE BB+       35      Assigned
Bharat Industrial Enterprises Ltd     LT/ST Bk Fac       CARE BB+ /CARE 730     Assigned
                                                         A4+
Capital First Home Finance Ltd        NCD                CARE AA+       3000    Assigned
Crux Biotech India Pvt Ltd            LT Bk Fac          CARE BB-       550.6   Reaffirmed
(Reduced from 56.69 CR)
Guru Nanak Rice And General Mills     LT Bk Fac          CARE B+        100     Reaffirmed
Haldia Petrochemicals Ltd             LT Bk Fac          CARE A-        49488.9 -
Issuer not cooperating; Based on best available information.
Haldia Petrochemicals Ltd             LT/ST Bk Fac       CARE A- /CARE  18000   -
                                                         A1
Issuer not cooperating; Based on best available information.
Indian Oil Lng Pvt Ltd                LT Bk Fac          CARE A-        28770   Reaffirmed
Indian Oil Lng Pvt Ltd                LT Compulsory      CARE AAA(SO)   3265    Reaffirmed
                                      Convertible
                                      Debentures (CCD)-I
Indian Oil Lng Pvt Ltd                LT Compulsory      CARE AAA(SO)   7870    Assigned
                                      Convertible
                                      Debentures* (CCD)-II (Proposed)
* The ratings are Provisional and shall be confirmed upon the execution of documents (including
signed term sheet, debenture trust deed etc.) by Indian Oil.
Infrastructure Leasing & Financial    Proposed NCDs      CARE AAA       10000   Assigned
Services Ltd
Jaycee Castalloys Pvt Ltd             LT Bk Fac          CARE BB        164.1   -
Issuer not cooperating; Based on best available information
K. P. Industries                      LT Bk Fac          CARE D         96.9    Revised from
                                                                                CARE B
Kaveri Ginning Industries Pvt Ltd     LT Bk FacTL        CARE BB        188     Revised from
                                                                                CARE BB-
(Reduced from 19.48 CR)
Kosi Bridge Infrastructure Co. Ltd    LT instrument      CARE AAA(SO)   2900    Reaffirmed
                                      (Proposed NCD)*
*Proposed Non-Convertible Debenture issue backed by discounting of future annuities receivable
from National Highways Authority of India.
M. M. Ceramics And Ferro Alloys       LT Bk Fac          CARE A-        200     Assigned
Madhuban Trade Steels Pvt. Ltd.       LT Bk Fac          CARE A-        420     Assigned
Parker Vrc Infrastructure Pvt Ltd     LT Bk Fac          CARE D         450     Revised from
                                                                                CARE BB
Proseed Foundation                    LT Bk Fac          -              -       Withdrawn
Rajratan Global Wire Ltd              LT Bk Fac          CARE BBB+      82.1    Reaffirmed
Rajratan Global Wire Ltd              LT/ST Bk Fac       CARE BBB+      452.5   Reaffirmed
                                                         /CARE A3+
Sarvottam Vegetable Oil Refinery Pvt  LT Bk Fac          CARE D         102.4   Revised from
Ltd                                                                             CARE B
Smsg Automart Pvt Ltd                 LT Bk Fac          CARE B+        102.9   Assigned
Subh Laxmi Syntex Ltd                 LT Bk Fac          CARE BB        223.9   Revised from
                                                                                CARE BB-
Tilak Ram Babu Ram Pvt Ltd            LT Bk Fac          CARE B         150     -
Issuer not cooperating; Based on best available information.
Venus Infrastructure & Developers Pvt LT Bk Fac          CARE BBB-      150     Assigned
Ltd
--------------------------------------------------------------------------------------------
$: 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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