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CARE ratings for Indian debt instruments-Sep 13
September 13, 2017 / 6:09 AM / 3 months ago

CARE ratings for Indian debt instruments-Sep 13

    Sep 13 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 12, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Accent Microcell Pvt Ltd              ST Bk Fac          CARE A3        75      Assigned
Compuage Infocom Ltd                  ST Bk Fac (NFB)    CARE A2+       4800.5  Reaffirmed
Cords Cable Industries Ltd            ST Bk Fac          CARE A3        202.5   Reaffirmed
Ecl Finance Ltd                       CP                 CARE A1+       36000   Reaffirmed

Edelweiss Asset Reconstruction Co. LtdCP                 CARE A1+ (SO)  3000    Reaffirmed
Edelweiss Commodities Services Ltd    CP                 CARE A1+       70000   Reaffirmed
(enhanced from Rs 3,500 crore)
Edelweiss Custodial Services Ltd      ST Bk Fac          CARE A1+       15000   Reaffirmed
(enhanced from Rs. 1000 crore)
Edelweiss Finance & Investments Ltd   CP                 CARE A1+       10000   Reaffirmed
(enhanced from Rs. 1000 crore)
Edelweiss Financial Services Ltd      CP                 CARE A1+       63500   Reaffirmed
Edelweiss Housing Finance Ltd         CP                 CARE A1+       10000   Reaffirmed
(enhanced from Rs.500 crore)
Edelweiss Retail Finance Ltd          CP                 CARE A1+       5000    Reaffirmed
Edelweiss Securities Ltd              CP                 CARE A1+       10000   Reaffirmed
Hdb Financial Services Ltd            ST Bk Fac          CARE A1+       75000   Reaffirmed
Honour Lab Ltd                        ST Bk Fac          CARE A3+       1450    Reaffirmed
India Sign Pvt Ltd                    ST Bk Fac          CARE A3+       70      Assigned
Infinity Infratech                    ST Bk Fac          CARE A4        6       -
Issuer Not Cooperating
Narayani Flour Mill                   ST Bk Fac          CARE A4        54      Assigned
Operational Energy Group India Ltd    ST Bk Fac          CARE A3        80      Reaffirmed
Sms Pharmaceuticals Ltd               ST Bk Fac          CARE A2+       508.3   Reaffirmed
Vitrag Foam Pvt Ltd                   ST Bk Fac          CARE A4        91.8    -
Issuer Not Cooperating
Welspun Corp Ltd                      ST Bk Fac          CARE A1+       56000   Reaffirmed
Welspun Corp Ltd                      CP                 CARE A1+       2000    Reaffirmed

MEDIUM TERM RATINGS:
-------------------

Compuage Infocom Ltd                  Medium Term Fixed  CARE A-(FD)    400     Assigned
                                      Deposits Proposed

LONG TERM RATINGS:
-------------------
Accent Microcell Pvt Ltd              LT Bk Fac          CARE BBB-      137.4   Assigned
Accent Microcell Pvt Ltd              LT /ST Bk Fac      CARE BBB-      112.5   Assigned
Balaji Industries                     LT Bk Fac          -              -       Withdrawn
Compuage Infocom Ltd                  LT Bk Fac (FB)     CARE A-        2005    Reaffirmed
Cords Cable Industries Ltd            LT Bk Fac          CARE BBB       460     Revised from
                                                                                CARE BBB-
Cords Cable Industries Ltd            LT/ST Bk Fac       CARE BBB /CARE 1520    Revised from
                                                         A3                     CARE BBB- /
                                                                                CARE A3
Ecl Finance Ltd                       LT Bk Fac          CARE AA        127250  Reaffirmed
(enhanced from Rs 5200 crore)
Ecl Finance Ltd                       NCD                CARE AA        25577   Reaffirmed
(reduced from Rs.4325 crore)
Ecl Finance Ltd                       Subordinate Debt   CARE AA        14000   Reaffirmed
Ecl Finance Ltd                       Retail Bonds       CARE AA        9425.9  Reaffirmed
(reduced from Rs.1300 crore)
Ecl Finance Ltd                       Principal          CARE PP-MLD AA 7875.4  Reaffirmed
                                      protected
                                      Marketlinked Debenture
(reduced from Rs.1300 crore)
Edelweiss Asset Reconstruction Co. LtdNCD                CARE AA (SO)   1000    Reaffirmed
Edelweiss Asset Reconstruction Co. LtdNCD                CARE AA- (SO)  300     Reaffirmed
Edelweiss Asset Reconstruction Co. LtdNCD                CARE AA- (SO)  370     Reaffirmed
Edelweiss Asset Reconstruction Co. LtdLT Bk Fac          CARE AA- (SO)  1597.5  Reaffirmed
(reduced from Rs.180 crore)
Edelweiss Asset Reconstruction Co. LtdLT Bk Fac          CARE AA- (SO)  2200    Reaffirmed
Edelweiss Asset Reconstruction Co. LtdPrincipal          CARE PP-MLD AA 7000    Reaffirmed
                                      Protected Market   (SO)
                                      Linked Debentures (PP-MLD)
Edelweiss Commodities Services Ltd    NCD                CARE AA        10750   Reaffirmed
(reduced from Rs.1,100 crore)
Edelweiss Finance & Investments Ltd   NCD                CARE AA        1500    Reaffirmed
Edelweiss Finance & Investments Ltd   Principal          CARE PP-MLD- AA3078.3  Reaffirmed
                                      protected
                                      Marketlinked Debenture
(reduced from Rs.500 crore)
Edelweiss Financial Services Ltd      NCD                CARE AA        3365    Reaffirmed
(reduced from Rs 650 crore)
Edelweiss Housing Finance Ltd         LT Bk Fac          CARE AA        18500   Reaffirmed
(enhanced from Rs.1,350 crore)
Edelweiss Housing Finance Ltd         NCD                CARE AA        6650    Reaffirmed
(enhanced from Rs.200 crore)
Edelweiss Housing Finance Ltd         Subordinate Debt   CARE AA        3000    Reaffirmed
(enhanced from Rs.100 crore)
Edelweiss Housing Finance Ltd         Retail Bonds       CARE AA        5000    Reaffirmed
Edelweiss Housing Finance Ltd         NCD                CARE AA(SO)*   710     Reaffirmed
(reduced from Rs.250 crore)
Edelweiss Retail Finance Ltd          NCD                CARE AA        9500    Reaffirmed
(enhanced from Rs.450 crore)
Edelweiss Retail Finance Ltd          Subordinate Debt   CARE AA        3000    Reaffirmed
(enhanced from Rs.100 crore)
Gajraj Hotel Pvt Ltd                  LT Bk Fac          CARE D         180.3   -
Issuer Not Cooperating
Hdb Financial Services Ltd            NCD                CARE AAA       238438  Reaffirmed
Hdb Financial Services Ltd            Perpetual Debt     CARE AAA       5000    Reaffirmed
Hdb Financial Services Ltd            LT Bk Fac          CARE AAA       165000  Reaffirmed
Honour Lab Ltd                        LT Bk Fac          CARE BBB+      4218.9  Reaffirmed
Hotel Deepali                         LT Bk Fac          CARE BB        104.3   Assigned
Ifci Ltd                              CP                 -              -       Withdrawn
India Sign Pvt Ltd                    LT Bk Fac          CARE BBB       80      Assigned
Infinity Infratech                    LT Bk Fac          CARE B+        49.1    -
Issuer Not Cooperating
Interjewel Designs                    Long/ST Bk Fac (FB)CARE D         360     Revised from
                                                                                CARE C / CARE
                                                                                A4
Interjewel Designs                    Long/ST Bk Fac-    CARE D         5       Revised from
                                      Non-Fund Based                            CARE C / CARE
                                                                                A4
Laxmi Goldorna House Ltd              LT Bk Fac          CARE BB        100     Reaffirmed
Mozart Vitrified Pvt Ltd              LT Bk Fac          CARE B+        125     Assigned
Narayani Flour Mill                   LT Bk Fac          CARE BB-       12      Assigned
Nrss Xxxi (B) Transmission Ltd        Proposed NCDs      CARE AAA(SO)   6800    Assigned
Operational Energy Group India Ltd    LT Bk Fac          CARE BBB       170     Reaffirmed
P T Motors Pvt Ltd                    LT Bk Fac          CARE BB        150     Reaffirmed
(enhanced from 9 CR)
Signet Industries Ltd                 LT Bk Fac          CARE BB+       1513.9  -
Issuer Not Cooperating
Signet Industries Ltd                 LT/ST Bk Fac       CARE BB+ /CARE 2100    -
                                                         A4+
Issuer Not Cooperating
Sms Pharmaceuticals Ltd               LT Bk Fac          CARE A-        1747.6  Reaffirmed
Sociedade De Fomento Industrial Pvt   LT Bk Fac          CARE BBB+      875     Assigned
Ltd
Soni Ginning Factory                  LT Bk Fac          CARE BB-       60      Assigned
South Ganga Waters Technologies Pvt   LT Bk Fac          CARE BBB-      265     Assigned
Ltd
Urjankur Shree Datta Power Co. Ltd    LT-Fund based- Bk  CARE A         200     Placed on
                                      Fac (CC)                                  Credit Watch
                                                                                with developing
                                                                                implications
Urjankur Shree Datta Power Co. Ltd    LT-Fund Based-Bk   CARE A         817.2   Placed on
                                      Fac (TL)                                  Credit Watch
                                                                                with developing
                                                                                implications
Vitrag Foam Pvt Ltd                   LT Bk Fac          CARE BB-       43.5    -
Issuer Not Cooperating
Vkt Pharma Pvt Ltd                    LT Bk Fac          CARE BBB-      900     Revised from
                                                                                CARE BB+
Welspun Corp Ltd                      LT Bk Fac          CARE AA-       4015    Reaffirmed
Welspun Corp Ltd                      NCD                CARE AA-       9940    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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