September 18, 2017 / 4:33 AM / in a month

CARE ratings for Indian debt instruments-Sep 18

    Sep 18 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 15, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Eagle Hunter Solutions Ltd            ST Bk Fac          CARE A4        76.6    Reaffirmed
(Enhanced from 2 crores)
Gainup Industries India Pvt Ltd       ST Bk Fac          CARE A4        100     Reaffirmed
(increased from 5 CR)

Hisar Metal Industries Ltd            ST Bk Fac          CARE A4+       300     Revised from
                                                                                CARE A4
Jindal Stainless Steelway Ltd         ST Bk Fac          CARE A3+       850     Revised from
                                                                                CARE A3
(Reduced from 90.00 CR)
Kaniska Garments                      ST Bk Fac          CARE A4        40      Assigned
Magnum Aviation Pvt Ltd               ST Bk Fac          CARE D         135     Revised from
                                                                                CARE A4
Sahota Papers Ltd                     ST Bk Fac          CARE A2+       6       Reaffirmed
Sar Denim Pvt Ltd                     ST Bk Fac          CARE A4        10      Assigned
Sengupta Motors                       ST Bk Fac          CARE A4        12      Assigned
Sharma Construction Company           ST Bk Fac          CARE A4        30      -
(Issuer Not Cooperating)
Sri Savitr Solar Pvt Ltd              ST Bk Fac          CARE A4        115     Assigned
The India Cements Ltd                 ST Bk Fac          CARE A1        5493.1  Reaffirmed
The India Cements Ltd                 CP                 CARE A1        2500    Reaffirmed
Tuaman Engineering Ltd                ST Bk Fac          CARE A3        160     Assigned

LONG TERM RATINGS:
-------------------
Adya Bhawan Ltd                       LT Bk Fac          CARE BB-       59.1    Assigned
B. Samyakk Agri Cottons               LT Bk Fac          CARE B+        100     Reaffirmed
Baba Bhubaneswar Cold Storage Pvt Ltd LT Bk Fac          CARE B         81.3    Assigned
Best Finance Corporation Pvt Ltd      LT Bk Fac          CARE BBB+(SO)  600     Reaffirmed
(enhanced from 25 CR)
Dynamic Realty Enterprises            LT Bk Fac          CARE BB-       290     Assigned
Eagle Hunter Solutions Ltd            LT Bk Fac          CARE BB        140     Revised from
                                                                                CARE BB-
Gainup Industries India Pvt Ltd       LT Bk Fac          CARE BB        710     Reaffirmed
(increased from 20 CR)
Hariom Aquaculture Pvt Ltd            LT Bk Fac          CARE BB        137     Revised from
                                                                                CARE BB-
(Enhanced from 8 CR)
Hisar Metal Industries Ltd            LT Bk Fac          CARE BB+       200     Revised from
                                                                                CARE BB
Jainco Enterprises Pvt Ltd            LT Bk Fac          CARE BB+       50      Assigned
Jainco Enterprises Pvt Ltd            LT/ST Bk Fac       CARE BB+ /CARE 450     Assigned
                                                         A4+
Jindal Stainless Steelway Ltd         LT Bk Fac (TL)     -              -       Withdrawn
Jindal Stainless Steelway Ltd         LT Bk Fac* (TL)    -              -       Withdrawn
*backed by unconditional and irrevocable corporate guarantee provided by Nalwa Sons Investments
Limited
Jindal Stainless Steelway Ltd         LT Bk Fac          CARE BBB       900     Revised from
                                                                                CARE BBB-
(reduced from 90.97 CR)
Jyoti Plastic Works Pvt Ltd           LT Bk Fac          CARE BB+       105     -
(Issuer Not Cooperating)
Jyoti Plastic Works Pvt Ltd           LT/ST Bk Fac       CARE BB+ /CARE 45      -
                                                         A4+
(Issuer Not Cooperating)
Kaniska Garments                      LT Bk Fac          CARE BB        108     Assigned
Kirpa Ram Dairy Pvt Ltd               LT Bk FacTL        -              -       Withdrawn
Kirpa Ram Dairy Pvt Ltd               LT Bk Fac (CC)     CARE BB-       150     Reaffirmed
Magnum Aviation Pvt Ltd               LT Bk Fac          CARE D         95      Revised from
                                                                                CARE BB
Mahestala Agro Foods Pvt Ltd          LT Bk Fac          CARE BB-       173     Assigned
Pee Kay Shuttering House              LT Bk Fac          -              -       Withdrawn
S. Sagar Enterprise                   LT/ST Bk Fac       CARE BB+ /CARE 100     Revised from
                                                         A4+                    CARE BB /
                                                                                CARE A4
Sahota Papers Ltd                     LT Bk Fac          CARE A-        48      Reaffirmed
Sar Denim Pvt Ltd                     LT Bk Fac          CARE BB        466     Assigned
Sengupta Motors                       LT Bk Fac          CARE B+        58      Assigned
Sharma Construction Company           LT Bk Fac          CARE B+        50      -
(Issuer Not Cooperating)
Shirish Hotels Pvt Ltd                LT Bk Fac          CARE B+        133.5   Assigned
Shree Balaji Steel                    LT Bk Fac          CARE D         48      -
(Issuer Not Cooperating) Based on Best Available Information
Sree Shiva Ginning And Pressing       LT Bk Fac          CARE BB-       69.7    Revised from
                                                                                CARE B+
(Enhanced from 6.70 CR)
Sri Kaveri Cotton Industries          LT Bk Fac          CARE B+        155.5   Reaffirmed
(reduced from Rs 15.90 CR)
Sri Savitr Solar Pvt Ltd              LT Bk Fac          CARE BB        285     Assigned
The India Cements Ltd                 LT Bk Fac          CARE A         26662.1 Revised from
                                                                                CARE A-
The India Cements Ltd                 NCD                CARE A         1500    Revised from
                                                                                CARE A-
Tuaman Engineering Ltd                LT Bk Fac          CARE BBB       90      Assigned
Vishavkarma Agro Industries           LT Bk Fac          CARE BB-       97.3    -
(Issuer Not Cooperating)
Zears Developers Pvt Ltd              LT Bk Fac          CARE B+        250     Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
--------------------------------------------------------------------------------------------
$: 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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