September 22, 2017 / 5:18 AM / 25 days ago

CARE ratings for Indian debt instruments-Sep 22

   Sep 22 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 21, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agrawal Roadlines Pvt Ltd             ST Bk Fac          CARE A4        30      Reaffirmed
Himachal Baspa Power Co. Ltd          ST Bk Fac – Non    CARE A1+       4500    Revised from
                                      Fund Based                                CARE A1
M. Surya Narayana Reddy               ST Bk Fac          CARE A4+       55      Assigned

Saigon Infratech Pvt Ltd              ST Bk Fac          CARE D         260     Issuer not
                                                                                cooperating;
                                                                                Revised from
                                                                                CARE A4
Oberoi Realty Ltd                     Proposed ST CP     CARE A1+       100     Reaffirmed
Take Solutions Ltd                    Proposed CP Issue  CARE A1+       1000    Assigned
Upl Ltd                               ST Bk Fac (Non-FB  CARE A1+       7500    Reaffirmed
                                      limit)
Upl Ltd                               CP                 CARE A1+       1000    Reaffirmed


LONG TERM RATINGS:
-------------------
Agrawal Automobiles                   LT Bk Fac          CARE BB-       100     Reaffirmed
Agrawal Automobiles                   LT/ ST Bk Fac      CARE BB- /CARE 2       Reaffirmed
                                                         A4
Agrawal Roadlines Pvt Ltd             LT Bk Fac          CARE BB-       140     Reaffirmed
Ayla Bari Tea Co. Pvt. Ltd            LT Bk Fac          CARE B+        80.8    Reaffirmed
Azen Medical Welfare & Research SocietLT Bk Fac          CARE B+        198.4   ISSUER NOT
                                                                                COOPERATING
Baba Jhareshwar Multipurpose Himghar  LT Bk Fac          CARE B         68.6    Revised from
Pvt Ltd                                                                         CARE B;
                                                                                ISSUER NOT
                                                                                COOPERATING
Capital First Ltd                     Perpetual Debt     CARE AA        4000    Reaffirmed
Garg Granites Pvt Ltd                 LT Bk Fac          CARE B+        75      Assigned
Glatt Solutions Pvt Ltd               LT Bk Fac          CARE BB        165     Assigned
Himachal Baspa Power Co. Ltd          LT Bk Fac          CARE A+        67231.8 Revised from
                                                                                CARE A
Himachal Baspa Power Co. Ltd          LT Bk Fac – CC     CARE A+        2740    Revised from
                                                                                CARE A
Incline Realty Pvt Ltd                LT NonConvertible  CARE AA+(SO)   7500    Reaffirmed
                                      Debenture
India Build Property Developers Pvt LtNCDsProposed       Provisional    350     Assigned
                                                         CARE BB
India Steel Works Ltd                 LT Bk Fac                                 Withdrawn
Indiabulls Infraestate Ltd            LT Instrument-NCD^ Provisional    10000   Assigned
                                                         CARE AA- (SO)
Indiabulls Infraestate Ltd            LT Bk facility –                          Withdrawn
                                      TL 
Indiabulls Properties Pvt Ltd         LT Instrument-NCD^ Provisional    2000    Assigned
                                                         CARE AA- (SO)
^The above rating is based on the credit enhancement in the form of unconditional
 and irrevocable corporate guarantee to be provided by Indiabulls Real Estate Ltd 
 (IBREL) to the lenders of the company for repayment obligation
Indiabulls Properties Pvt Ltd         LT Instrument – NCD                       Withdrawn
Invention Realtors Pvt Ltd            LT Bk Fac          CARE D         150     Issuer not
                                                                                cooperating;
                                                                                Based on best 
                                                                                available 
                                                                                information
Jyoti Holdings Pvt Ltd                LT Bk Fac          CARE BB-       150     Revised from
                                                                                CARE B+
Lords Oriental Resorts Developers     LT Bk Fac          CARE D         131.6   Revised from
(Silvassa) Pvt Ltd                                                              CARE B
M. Surya Narayana Reddy               LT Bk Fac          CARE BB        40      Assigned
M. Surya Narayana Reddy               LT Bk Fac          CARE BB        7.5     Assigned
Mithra Kyokuto Special Purpose VehicleLT Bk Fac          CARE BB-       80      Reaffirmed
Company Pvt Ltd
New Habitat Housing Finance &         LT Bk Fac          CARE BBB-      500     Reaffirmed
Development Ltd
Newry Properties Pvt Ltd              LT Bk Fac          CARE BB-       200     Assigned
Responce Renewable Energy Ltd         LT Bk Fac          CARE BB        490     Assigned
Sadashiv Castings Pvt Ltd             LT Bk Fac          CARE D                 Revised from
                                                                                CARE BB-
Saigon Infratech Pvt Ltd              LT Bk Fac          CARE D         50      Issuer not
                                                                                cooperating;
                                                                                Revised from
                                                                                CARE B+
Satin Creditcare Network Ltd          NCD                CARE BBB+      250     Reaffirmed
Satin Creditcare Network Ltd          NCD (Proposed)     CARE BBB+      20      Assigned
Sri Adhikari Brothers Television      LT Bk Fac – TL     CARE D         861.5   Revised from
Network Ltd                                                                     CARE BBB-
Take Solutions Ltd                    Issuer Rating      CARE AA- (Is)          Assigned
Translite Energy Ltd                  LT Bk Fac          CARE BB        135     Reaffirmed
Translite Energy Ltd                  LT/ST Bk Fac       CARE BB /CARE  210     Reaffirmed
                                                         A4
Tv Vision Ltd                         LT Bk Fac – TL     CARE D         243.9   Revised from
                                                                                CARE BBB- (SO)
Upl Ltd                               Long/ST Bk Fac (FB CARE AA+       17500   Reaffirmed
                                      limit)
Upl Ltd                               NCD issue          CARE AA+       8500    Reaffirmed
Visual Percept Solar Projects Pvt Ltd LT Bk Fac          CARE A+        658.1   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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