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CARE ratings for Indian debt instruments-Sep 11
September 11, 2017 / 4:39 AM / 11 days ago

CARE ratings for Indian debt instruments-Sep 11

    Sep 11 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 8, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aaditya Finechem Pvt Ltd              ST Bk Fac          CARE A3        50      Assigned
Baroque Pharmaceuticals Pvt Ltd       ST Bk Fac          CARE A3        20      Reaffirmed
Insco Steels Pvt. Ltd.                ST Bk Fac          CARE A4        2250    Reaffirmed
Jaguar Overseas Ltd                   ST Bk Fac          CARE A3+       1700    Assigned

Jayaraj Fortune Packaging Pvt Ltd     ST Bk Fac          CARE A4        37.5    Assigned
Jsw Energy                            ST Bk Fac          CARE A1+       46520   Reaffirmed
enhanced from Rs 3817.00 crore
Jsw Energy                            CP                 CARE A1+       7000    Reaffirmed
Mohindra Coaches (India) Pvt Ltd      ST Bk Fac          CARE A4        60      Assigned
P&C Projects Pvt Ltd                  ST Bk Fac          CARE A3        1000    Revised from
                                                                                CARE A4
Rahul Ferromet & Engineering Pvt Ltd  ST Bk Fac          CARE A4        16      Assigned
Sagar Manufacturers Pvt Ltd           ST Bk Fac          CARE A3+       30.4    Assigned
Urc Construction Pvt Ltd              ST Bk Fac          CARE A3        5700    Reaffirmed
enhanced from 430 CR
Vaishali Gems                         ST Bk Fac          CARE A4        270     Assigned

LONG TERM RATINGS:
-------------------
Aaditya Finechem Pvt Ltd              LT Bk Fac          CARE BBB-      60      Assigned
Aaram Plastics Pvt Ltd                LT Bk Fac          --                     Withdrawn
Aaram Plastics Pvt Ltd                ST Bk Fac          --                     Withdrawn
Acme Pv Powertech Pvt Ltd             LT Bk Fac          CARE BBB       3220    Assigned
Asahi India Glass Ltd                 LT Bk Fac          CARE A-        10418   Revised from
                                                                                CARE BBB+
enhanced from 894.18 CR
Asahi India Glass Ltd                 Bk Fac             CARE A- /A2    1133.8  Revised from
                                                                                CARE BBB+ /A3+
reduced from 158 CR
Baroque Pharmaceuticals Pvt Ltd       LT Bk Fac          CARE BBB-      178.9   Reaffirmed
enhanced from 16 CR
Baroque Pharmaceuticals Pvt Ltd       Bk Fac             CARE BBB- /A3  40      Reaffirmed
D. Thakker Constructions Pvt Ltd      LT Bk Fac          --                     Withdrawn
D. Thakker Constructions Pvt Ltd      ST Bk Fac          --                     Withdrawn
E-Homes Infrastructure Pvt Ltd        LT Bk Fac          --                     Withdrawn
Gautam Solar Pvt Ltd                  LT Bk Fac- TL      CARE BBB       52.6    Assigned
Gautam Solar Pvt Ltd                  LT / ST Bk Fac- BG CARE BBB /A2   97.4    Assigned
Gpt Healthcare Pvt Ltd                LT Bk Fac          CARE BBB-      64      Reaffirmed
Gpt Healthcare Pvt Ltd                NCD                CARE BBB-      100     Reaffirmed
Gpt Infraprojects Ltd                 LT Bk Fac          CARE BBB       5327    Reaffirmed
enhanced from Rs.422.50 crore
Greenland Automobiles Pvt Ltd         LT Bk Fac          CARE BB-       117.5   Assigned
Insco Steels Pvt. Ltd.                LT Bk Fac          CARE BB-       250     Reaffirmed
Jaguar Overseas Ltd                   LT Bk Fac          CARE BBB       325     Assigned
Jayaraj Fortune Packaging Pvt Ltd     LT Bk Fac          CARE B+        145     Assigned
Jsw Energy                            LT Bk Fac          CARE AA-       37112.9 Reaffirmed
Enhanced from Rs. 1883.94 crore
Jsw Energy                            LT NCD -1          CARE AA-       7200    Reaffirmed
Jsw Energy                            LT NCD -2          CARE AA-       7000    Reaffirmed
Jsw Energy                            LT NCD -3*         CARE AA-       10000   Reaffirmed
* Rs 500 crore placed
Jsw Energy                            Proposed LT NCD    CARE AA-       5000    Reaffirmed
Mohindra Coaches (India) Pvt Ltd      LT Bk Fac          CARE BB-       25      Assigned
Nish Developers Pvt Ltd               LT Bk Fac          --                     Withdrawn
P&C Projects Pvt Ltd                  LT Bk Fac          CARE BBB-      800     Revised from
                                                                                CARE BB
P&C Projects Pvt Ltd                  Bk Fac             CARE BBB- /A3  3100    Revised from
                                                                                CARE BB /A4
increased from 145 CR
Parshwanath Buildcon Pvt Ltd          LT Bk Fac          --                     Withdrawn
Radhe Radhe Fibers                    LT Bk Fac          --                     Withdrawn
Rahul Ferromet & Engineering Pvt Ltd  LT Bk Fac          CARE BB-       134     Assigned
Rohtak Panipat Tollway Pvt Ltd        LT Bk Fac          CARE BBB-      9707.2  Reaffirmed
Sagar Manufacturers Pvt Ltd           LT Bk Fac          CARE BBB       344.6   Assigned
Shree Aishwarya Industries            LT Bk Fac          CARE B         88.5
Issuer Not Cooperating
Sri Hari Constructions                LT Bk Fac          CARE BB-       130     Assigned
Super Spintex Pvt Ltd                 LT Bk Fac          CARE BB-       237.5   Assigned
Super Spintex Pvt Ltd                 Bk Fac             CARE BB- /A4   50      Assigned
Urc Construction Pvt Ltd              LT Bk Fac          CARE BBB       3900    Reaffirmed
enhanced from 208.47 CR
Vaishali Gems                         LT Bk Fac          CARE BB+       10      Assigned

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