September 4, 2017 / 5:17 AM / in 2 months

CARE ratings for Indian debt instruments-Sep 4

    Sep 4 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 1&2, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Canpac Multiply Pvt Ltd               ST Bk Fac          -              -       Withdrawn

Deepak Novochem Technologies Ltd      ST Bk Fac          CARE A3+       70      Revised from
                                                                                CARE A3
Narbada Forest Industries Pvt Ltd     ST Bk Fac          CARE A4        10      Assigned
Panama Petrochem Ltd                  ST Bk Fac          CARE A1        3540    Reaffirmed

Reliance Infrastructure Ltd           ST Bk Fac          CARE A2+       15000   Revised from
                                                                                CARE A1+
Smartha Enterprises Pvt Ltd           ST Bk Fac          CARE A4        150     Assigned
Vindeshwari Exim Pvt Ltd              ST Bk Fac          CARE A4        330     Assigned
Vivekananda Paddy Mills Pvt Ltd       ST Bk Fac          CARE A4        2.8     Revised from
                                                                                CARE A4
Issuer not cooperating

LONG TERM RATINGS:
-------------------
Adani Wilmar Ltd                      LT Bk Fac          CARE A         19380   Reaffirmed
Adani Wilmar Ltd                      LT/ST Bk Fac       CARE A/A1      74195   Reaffirmed
Canpac Trends Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Canpac Trends Pvt Ltd                 Long/ST Bk Fac     -              -       Withdrawn
Capri Global Housing Finance Ltd      LT Bk Fac          CARE A-        3000    Revised from
                                                                                Provisional
                                                                                CARE A
Deepak Novochem Technologies Ltd      LT Bk Fac          CARE BBB       288.5   Revised from
                                                                                CARE BBB-
Deepak Novochem Technologies Ltd      LT/ ST Bk Fac      CARE BBB /A3+  230     Revised from
                                                                                CARE BBB- /A3
Dholi Spintex Pvt Ltd                 LT Bk Fac          CARE BBB-      2350    Reaffirmed
Intellectual Research Services Pvt LtdLT Bk Fac          -              80      Withdrawn
Kakum Enterprise                      LT Bk Fac          CARE BB        150     Reaffirmed
Narbada Forest Industries Pvt Ltd     LT Bk Fac          CARE BB        75.2    Assigned
Nirvin Cold Storage Pvt Ltd           LT Bk Fac          CARE B         82.5    Reaffirmed
Panama Petrochem Ltd                  LT Bk Fac          CARE A+        200     Revised from
                                                                                CARE A
Patanjali Chikitsalaya                LT Bk Fac          CARE B         90      Assigned
Rajarambapu Patil Sah. Dudh Sangh Ltd LT Bk Fac          CARE BB        540     Reaffirmed
Reliance Infrastructure Ltd           LT Bk Fac          CARE A-        37000   Revised from
                                                                                CARE A+
Reliance Infrastructure Ltd           LT NonConvertible  CARE A-        8000    Revised from
                                      Debenture -1                              CARE A+
Reliance Infrastructure Ltd           LT NonConvertible  CARE A-        12000   Revised from
                                      Debenture -2                              CARE A+
Reliance Infrastructure Ltd           LT NonConvertible  CARE A-        3650    Revised from
                                      Debenture-3                               CARE A+
Reliance Infrastructure Ltd           CP issue           CARE A-        2000    Withdrawn
                                      (Standalone)
Renew Solar Energy (Karnataka) Pvt LtdLT Bk Fac          -              -       Withdrawn
S. H. Enterprises                     LT Bk Fac          CARE B+        80      Reaffirmed
Smartha Enterprises Pvt Ltd           LT Bk Fac          CARE BB-       15      Assigned
Sunny Diamonds                        LT Bk Fac          CARE BB-       110     Assigned
Surya Plastic Manufacturing Pvt Ltd   LT Bk Fac          CARE D         90      Revised from
                                                                                CARE B+
Issuer not cooperating
Sushee Ivrcl Arunachalhighways Ltd    LT Bk Fac          CARE BBB-      2340    Reaffirmed
Sushee Ivrcl Arunachalhighways Ltd    LT/ST Bk Fac       CARE BBB- / A3 743     Reaffirmed
Svc Projects Pvt Ltd                  LT Bk FacTL        -              0       Withdrawn
Svc Projects Pvt Ltd                  LT Bk Fac          CARE BB+       140     Reaffirmed
Svc Projects Pvt Ltd                  LT/ST Bk Fac       CARE BB+       558.4   Reaffirmed
Vindeshwari Exim Pvt Ltd              LT/ST Bk Fac       CARE BB- /CARE 2       Assigned
                                                         A4
Vivekananda Paddy Mills Pvt Ltd       LT Bk Fac          CARE BB        57.2    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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