Reuters logo
CARE ratings for Indian debt instruments-Sep 28
September 28, 2017 / 4:26 AM / 2 months ago

CARE ratings for Indian debt instruments-Sep 28

    Sep 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 27, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Expanded Polymer Systems Pvt Ltd      ST Bk Fac (Bills   CARE A3        50      Assigned
                                      Discounting)
Expanded Polymer Systems Pvt Ltd      ST Bk Fac (Non     CARE A3        622.4   Assigned
                                      Fund based)

Jaideep Metallics & Alloys Pvt Ltd    ST Bk Fac          CARE A4        55      Assigned
Krbl Ltd                              Proposed CP        CARE A1+       5000    Assigned
Ksh Logistics Pvt Ltd                 ST Bk Fac          CARE A4        7.5     Assigned
M. G. Autosales Pvt Ltd               ST Bk Fac          CARE A4        2.5     Assigned
Maxim Tubes Company Pvt Ltd           ST Bk Fac          CARE A3        200     Assigned
Mutyala Agro Tech Llp                 ST Bk Fac          CARE A4        18      Assigned
Neotia Healthcare Initiative Ltd      ST Bk Fac          CARE A3        100     Assigned
Sharma Export                         ST Bk Fac          CARE A4+       230     Reaffirmed
Tata Communications Payment Solutions CP (CP)            CARE A1+       1000^   Reaffirmed
Ltd
^backed by credit enhancement in the form of letter of comfort from Tata Communications Ltd.
(TCL)
Tata Communications Payment Solutions ST Bk Fac          CARE A1+       2145.0@ Outstanding
Ltd
@ Includes Rs.0.50 crore backed by credit enhancement in the form of unconditional and
irrevocable corporate guarantee extended by TCL; Rs.4 crore backed by credit enhancement in the
form of debit letter authority from TCL and Rs.200 crore backed by credit enhancement in the
form of letter of comfort from TCL
Tata Communications Payment Solutions Proposed CP        Provisional   1000^   Reaffirmed
Ltd                                                      CARE A1+    
^backed by credit enhancement in the form of letter of comfort from Tata Communications Ltd.
(TCL)


LONG TERM RATINGS:
-------------------
Asirvad Microfinance Ltd              Series A1 PTC      Provisional    660     Assigned   
                                                         CARE A-    
Asirvad Microfinance Ltd              Series A2 PTC      Provisional    17.5    Assigned
                                                         CARE BBB  
Asirvad Microfinance Ltd              Series A3 PTC      Provisional    5       Assigned
                                                         CARE BBB
Almehtab Industries Pvt Ltd           LT Bk Fac          CARE BB        150     -
Issuer Not Cooperating
Bharat Petroleum Corporation Ltd      NCD (Proposed)     CARE AAA       10000   Reaffirmed
Bharat Petroleum Corporation Ltd      NCD                CARE AAA       5500    Reaffirmed
Bharat Petroleum Corporation Ltd      NCD (Proposed)     CARE AAA       4500    Reaffirmed
Bisi Engineering                      LT Bk Fac          CARE BB-       70      Assigned
Cholamandalam Investment And Finance  Perpetual Debt     CARE AA        3977    Revised from
Co. Ltd                               Instrument – I                            CARE AA-
Cholamandalam Investment And Finance  Perpetual Debt     CARE AA        2000    Revised from
Co. Ltd                               Instrument – II                           CARE AA-
Cholamandalam Investment And Finance  Perpetual Debt     CARE AA        2000    Revised from
Co. Ltd                               Instrument – III                          CARE AA-
Cholamandalam Investment And Finance  Perpetual Debt     CARE AA        1000    Revised from
Co. Ltd                               Instrument – IV                           CARE AA-
Cholamandalam Investment And Finance  Perpetual Debt     CARE AA        500     Revised from
Co. Ltd                               Instrument – V                            CARE AA-
Cholamandalam Investment And Finance  Perpetual Debt     CARE AA        1000    Revised from
Co. Ltd                               Instrument – VI                           CARE AA-
Cholamandalam Investment And Finance  Perpetual Debt     CARE AA        250     Revised from
Co. Ltd                               Instrument – VI                           CARE AA-
Cholamandalam Investment And Finance  Subordinated Debt  CARE AA+       1000    Revised from
Co. Ltd                               – I                                       CARE AA
Cholamandalam Investment And Finance  Subordinated Debt  CARE AA+       2500    Revised from
Co. Ltd                               – II                                      CARE AA
Cholamandalam Investment And Finance  Subordinated Debt  CARE AA+       1150    Revised from
Co. Ltd                               – III                                     CARE AA
Emerge Glass India Pvt Ltd            Long/ST Bk Fac     CARE BBB /CARE 585     Revised from
                                                         A3+                    CARE BBB- /
                                                                                CARE A3
Expanded Polymer Systems Pvt Ltd      LT Bk Fac (TL)     CARE BBB-      82.6    Assigned
Expanded Polymer Systems Pvt Ltd      LT Bk Fac (CC)     CARE BBB-      250     Assigned
Gmr Bajoli Holi Hydropower Pvt Ltd    LT Fac (TL) Senior CARE D         13800   Revised from
                                      Debt                                      CARE BBB-
Gmr Bajoli Holi Hydropower Pvt Ltd    LT Bk Fac –Non     CARE D         250     Revised from
                                      fund based (BG)                           CARE BBB-
Harpritam Industries Pvt Ltd          LT Bk Fac          CARE BB        30      Reaffirmed
Hinduja Leyland Finance Ltd           NCD (Proposed)     CARE AA-       2000    Assigned
Holo Pack Securities                  LT Bk Fac          CARE B+        55      Assigned
Jaideep Metallics & Alloys Pvt Ltd    LT Bk Fac          CARE BB-       200     Assigned
Kalanikethan Silks Pvt Ltd            LT Bk Fac          CARE BBB+      658.2   Reaffirmed
Kitty Industries Pvt Ltd              LT Bk Fac          CARE BBB+      107     Reaffirmed
Ksh Logistics Pvt Ltd                 LT Bk Fac          CARE BB-       160     Assigned
M. G. Autosales Pvt Ltd               LT Bk Fac          CARE B         142.5   Assigned
Maxim Tubes Company Pvt Ltd           LT Bk Fac          CARE BBB-      100     Assigned
Maxim Tubes Company Pvt Ltd           LT/ ST Bk Fac      CARE BBB- / A3 100     Assigned
Mutyala Agro Tech Llp                 LT Bk Fac          CARE B+        38.3    Assigned
Ndr Infrastructure Pvt Ltd            LT Bk Fac          CARE BB+       1670    Assigned
Neotia Healthcare Initiative Ltd      LT Bk Fac          CARE BBB-      900     Assigned
Raja Agro Cold Storage                LT Bk Fac          CARE B+        97.6    Assigned
Rajendra Rice & General Mills         LT Bk Fac          CARE B+        65      -
Issuer Not Cooperating
Rajendra Rice & General Mills         LT / Shortterm Bk  CARE B+ / A4   5       -
                                      Fac
Issuer Not Cooperating
Shanti Foundation                     LT Bk Fac          CARE BB-       224.9   Assigned
Shree Ramkrishna Exports Pvt Ltd      LT / ST Bk Fac     CARE A+ /CARE  17000   Revised from
                                                         A1                     CARE A / A2+
Sri Vishnu Buildcon Pvt Ltd           LT Bk Fac          CARE B+        44.1    Assigned
Suresh Kumar & Sons Trading Pvt Ltd   LT Bk Fac          CARE BB-       60      Assigned
Tata Communications Payment Solutions LT Bk Fac          CARE AA        3000*   Outstanding
Ltd
* backed by credit enhancement in the form of letter of comfort from Tata Communications Ltd.
(TCL)
Tata Communications Payment Solutions LT Bk Fac          CARE AA+       360^    Outstanding
Ltd
^ backed by unconditional and irrevocable corporate guarantee extended by TCL
Tata Communications Payment Solutions Proposed LT /      Provisional    1500*   Outstanding
Ltd                                   Shortterm FB /     CARE AA/A1+
                                      Non-fundbased Fac
* backed by credit enhancement in the form of letter of comfort from Tata Communications Ltd.
(TCL)
Vijayalakshmi Drier Industries        LT Bk Fac          CARE B+        60      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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below