September 12, 2017 / 4:34 AM / 2 months ago

CARE ratings for Indian debt instruments-Sep 12

    Sep 12 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 11, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Arowana Exports Pvt Ltd               ST Bk Fac          CARE D         70      Issuer not
                                                                                Cooperating
Cauvery Buildtech                     ST Bk Fac          CARE A4        37.5    Assigned
Freemans Measures Pvt Ltd             ST Bk Fac          CARE A4        16.1    Assigned
Hindalco Industries Ltd               Proposed CP (CP)   CARE A1+       20000   Reaffirmed
                                      issue
                                      (Standalone)/ ST Debt
Hypercity Retail India Ltd            ST Bk Fac*         CARE A1 (SO)   100     Reaffirmed
*Backed by Unconditional and irrevocable Corporate Guarantee by Shopper Stop Ltd
Indo Rama Synthetics Ltd              ST Bk Fac          CARE D         650     Reaffirmed
M. G Hussain                          ST Bk Fac          CARE A4        25      Assigned
Manappuram Finance Ltd                Proposed CP issue  CARE A1+       35000   Assigned
Marc Enterprises Pvt Ltd              ST Bk Fac          CARE A4+       20      assigned
Opel Sulz Pvt Ltd                     ST Bk Fac          -              -       Withdrawn
Pks Technobuild Pvt Ltd               ST Bk Fac          CARE A4        40      Assigned
R.S. Infraprojects Pvt Ltd            ST Bk Fac          CARE A3+       1750    Assigned
Ramky Enviro Engineers Ltd            ST Bk Fac          CARE A3+       1500    Revised from
                                                                                CARE A3
Rmp Bearings Ltd                      ST Bk Fac          CARE A4+       1       Assigned
Sanvi Spinning Mill Pvt Ltd           ST Bk Fac          CARE A4        22.5    Reaffirmed
Shopper Stop Ltd                      ST Bk Fac          CARE A1        215     Reaffirmed
Sutlej Textiles And Industries Ltd    Fund Based-        CARE A1+       6000    Reaffirmed
                                      LT/ST-CC/EPC/PCFC
Sutlej Textiles And Industries Ltd    CP                 CARE A1+       3000    Reaffirmed
Trent Ltd                             CP Issue           CARE A1+       4000    Reaffirmed
(Enhanced from Rs. 300 crore)
Unitech International Ltd             ST Bk Fac          CARE A4        230     Issuer not
                                                                                Cooperating
Wadhawan Global Capital Pvt. Ltd.     CP Issue           CARE A1+       3000    Reaffirmed
(enhanced from Rs.100 crore)
    
LONG TERM RATINGS:
-------------------
Bright Style Fabrics Pvt Ltd          LT Bk Fac          CARE BB-       67      Reaffirmed
Cauvery Buildtech                     LT Bk Fac          CARE BB-       25      Assigned
Freemans Measures Pvt Ltd             LT Bk Fac          CARE B+        29.6    Assigned
Freemans Measures Pvt Ltd             LT Bk Fac/ ST Bk   CARE B+ /CARE  85      Assigned
                                      Fac                A4
Hypercity Retail India Ltd            LT Bk Fac*         CARE A (SO)    3518.3  Reaffirmed
*Backed by Unconditional and irrevocable Corporate Guarantee by Shopper Stop Ltd/ (Enhanced from
Rs.165.83 Crore)
Hypercity Retail India Ltd            LT / ST Bk Fac*    CARE A (SO)    400     Reaffirmed
                                                         /CARE A1 (SO)
*Backed by Unconditional and irrevocable Corporate Guarantee by Shopper Stop Ltd
Hypercity Retail India Ltd            LT Bk Fac^         CARE BBB+ (SO) 82.5    Reaffirmed
^ Backed by Letter of Comfort by SSL
Hypercity Retail India Ltd            LT / ST Bk Fac^    CARE BBB+ (SO) 200     Reaffirmed
                                                         /CARE A2 (SO)
^ Backed by Letter of Comfort by SSL
Indo Rama Synthetics Ltd              LT Bk Fac          CARE D         1237.5  Reaffirmed
Indo Rama Synthetics Ltd              Long/ ST Bk Fac    CARE D         7112.5  Reaffirmed
Khanna Polyweave Pvt Ltd              LT Bk Fac          CARE BB-       150     Assigned
M. G Hussain                          LT Bk Fac          CARE B+        48      Assigned
Mafatlal Industries Ltd               LT Bk FacTL        CARE BBB       675     Reaffirmed
Mafatlal Industries Ltd               LT Bk Fac – FB Fac CARE BBB       950     Reaffirmed
Mafatlal Industries Ltd               Long /ST Bk Fac –  CARE BBB /CARE 375     Reaffirmed
                                      Fund/Non Fund BasedA3+
Mahalaxmi Jewellers Pvt Ltd           LT Bk Facility     CARE B+        75      Assigned
Marc Enterprises Pvt Ltd              LT Bk Fac          CARE BB+       120     Assigned
Marc Enterprises Pvt Ltd              LT/ ST Bk Fac      CARE BB+ /CARE 360     Assigned
                                                         A4+
Metecno India Pvt Ltd                 LT Bk Fac          CARE BB-       246.1   Reaffirmed
Metecno India Pvt Ltd                 Long / ST Bk Fac   CARE BB- /CARE 200     Reaffirmed
                                                         A4
Mumbai Waste Management Ltd           LT Bk Fac          CARE BBB+      780.6   Revised from
                                                                                CARE BBB
[reduced from 81.85crs]
Mumbai Waste Management Ltd           LT/ST Bk Fac       CARE BBB+      25      Revised from
                                                         /CARE A3+              CARE BBB /
                                                                                CARE A3
Nhpc Ltd                              Proposed Long      CARE AAA       22500   Assigned
                                      –term Bonds (W
                                      Series)
Opel Sulz Pvt Ltd                     LT Bk Fac          -              -       Withdrawn
Pacific Medical University            LT Bk Fac          CARE BBB-      1172.4  Assigned
Param Exports                         LT Bk Fac          CARE BB+       107.5   Reaffirmed
Pks Technobuild Pvt Ltd               LT Bk Fac          CARE BB-       50      Assigned
R.R. Polynet Pvt Ltd                  LT Bk Fac          CARE B+        31.8    Assigned
R.R. Polynet Pvt Ltd                  LT Bk Fac/ ST Bk   CARE B+ /CARE  56      Assigned
                                      Fac                A4
R.S. Infraprojects Pvt Ltd            LT Bk Fac          CARE BBB+      700     Assigned
Ramky Enviro Engineers Ltd            LT Bk Fac          CARE BBB+      2494.2  Revised from
                                                                                CARE BBB-
[reduced from 280.39crs]
Rgs Poultry Farm                      LT Bk Fac          CARE B+        45      Assigned
Riddhi Siddhi Associates              LT Bk Fac          CARE BB+       395     Assigned
Riddhi Siddhi Associates              LT/ST Bk Fac       CARE BB+ /CARE 500     Assigned
                                                         A4
Rmp Bearings Ltd                      LT Bk Fac          CARE BB+       149     Assigned
Rohtak Hissar Tollway Pvt Ltd         LT/ST Bk Fac       CARE BBB-      9524    Reaffirmed
                                                         /CARE A3
S.M.I.L.E. Microfinance Ltd           NCD-I (Proposed)   CARE BBB       387     Assigned
S.M.I.L.E. Microfinance Ltd           NCD-II (Proposed)  CARE BBB       258     Assigned
Sanjay Homes And Developers Pvt Ltd   LT Bk Fac          -              -       Withdrawn
Sanvi Spinning Mill Pvt Ltd           LT Bk Fac          CARE BB        332.2   Revised from
                                                                                CARE B+
(reduced from 34.50crs)
Sanvi Spinning Mill Pvt Ltd           LT /ST Bk Fac      CARE BB /CARE  50      Revised from
                                                         A4                     CARE B
                                                                                /Reaffirmed
Shopper Stop Ltd                      LT Bk Fac          CARE A         7426.7  Reaffirmed
Sutlej Textiles And Industries Ltd    Fund Based-LT-TL   CARE AA        8098.2  Reaffirmed
Sutlej Textiles And Industries Ltd    Non-Fund           CARE AA/CARE   450     Reaffirmed
                                      Based-ST-LC/BG     A1+
Talettutayi Solar Projects One Pvt LtdLT Bk Fac – TL     CARE BBB-      1750    Assigned
The Tata Power Co. Ltd                Perpetual Bond     CARE AA        15000   Reaffirmed
The Tata Power Co. Ltd                Hybrid Bond        CARE AA        15000   Reaffirmed
The Tata Power Co. Ltd                NCDs               CARE AA        22100   Reaffirmed
Unitech International Ltd             LT Bk Fac          CARE BB        120     Issuer not
                                                                                Cooperating
Wasan Auto Sales Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Zubic Lifescience Pvt Ltd             LT Bk Fac          CARE B         128     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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