September 7, 2017 / 6:26 AM / 3 months ago

CARE ratings for Indian debt instruments-Sep 7

    Sep 7 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 6, 2017.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Airo Lam Ltd                          ST Bk Fac          CARE A4        62.5    Assigned
Alufit India Pvt Ltd                  ST Bk Fac          CARE A2+       1650    Assigned
Amanta Healthcare Ltd                 ST Bk Fac          CARE A3        135.5   Reaffirmed
Conffi Sanitaryware Pvt Ltd           ST Bk Fac          CARE A4        10.8    Reaffirmed

Creamcrust Food Products Company      Bk Fac             CARE A4        10      Assigned
Dollar Industries Ltd                 ST Bk Fac          CARE A1        11.7    Revised from
                                                                                CARE A2
Jalpa Diamond                         ST Bk Fac          CARE A4+       190     Reaffirmed
Royal Touch International Llp         ST Bk Fac          CARE A4        49      Assigned
Shiv Shakti Knit Fabs                 ST Bk Fac          CARE A4        3.8     Reaffirmed
Increased from 0.34 CR
Slr Metaliks Ltd                      ST Bk Fac ^        CARE A3+ (SO)  700     Revised from
                                                                                CARE A2 (SO)
Sterlite Power Grid Ventures Ltd      Proposed CP        CARE A1+       500     Assigned
Urvesh Psyllium Industries Ltd        ST Bk Fac          CARE A4        34.1    Reaffirmed
enhanced from 2.34 CR
Vee Kay Vikram And Company Llp        ST Bk Fac          CARE A3+       70      Assigned

MEDIUM TERM RATINGS:
-------------------
Amanta Healthcare Ltd                 Medium Term        CARE BBB (FD)  100     Revised from
                                      Instrument – Fixed                        CARE BBB- (FD)
                                      Deposit

LONG TERM RATINGS:
-------------------
Aakash Healthcare Pvt Ltd             LT Bk Fac          CARE BB+       1729    Revised from
                                                                                CARE BB
increased from 129.60 CR

Airo Lam Ltd                          LT Bk Fac          CARE BB+       30.9    Assigned
Airo Lam Ltd                          Bk Fac             CARE BB+ /A4   170     Assigned
Alufit India Pvt Ltd                  LT Bk Fac          CARE A-        530     Assigned
Amanta Healthcare Ltd                 LT Bk Fac          CARE BBB       565.1   Revised from
                                                                                CARE BBB-
reduced from Rs.61.65 crore
A-One Tex Tech Pvt Ltd                LT Bk Fac (TL)     CARE BB-       56.8    Revised from
                                                                                CARE B+
reduced from Rs. 7.50 crore
A-One Tex Tech Pvt Ltd                LT Bk Fac (CC)     CARE BB-       60      Revised from
                                                                                CARE B+
enhanced from Rs. 3.50 crore
Conffi Sanitaryware Pvt Ltd           LT Bk Fac          CARE BB+       148.2   Reaffirmed
enhanced from 11.59 CR
Creamcrust Food Products Company      LT Bk Fac          CARE B         50      Assigned
Dollar Industries Ltd                 LT Bk Fac          CARE A         2058.9  Revised from
                                                                                CARE A-
enhanced from Rs.197.7 crore
Enmas Gb Power Systems Projects Ltd   LT Bk Fac          CARE D         240     Revised from
                                                                                CARE C
Enmas Gb Power Systems Projects Ltd   ST Bk Fac          CARE D         70      Revised from
                                                                                CARE A4
Enmas Gb Power Systems Projects Ltd   Bk Fac             CARE D /D      50      Revised from
                                                                                CARE C/ A4
G R Infraprojects Ltd                 LT Bk Fac          CARE AA-               Reaffirmed
G R Infraprojects Ltd                 NCD Issue 1 (NCD – CARE AA-               Reaffirmed
                                      I) – Tranche 1*
reduced from Rs.125.00 crore; * Outstanding as on June 30, 2017
G R Infraprojects Ltd                 NCD Issue 2 (NCD – CARE AA-               Reaffirmed
                                      II)*
* Outstanding as on June 30, 2017
G R Infraprojects Ltd                 Bk Fac             CARE AA- /A1+          Reaffirmed
Mrjv Construction Company             LT Bk Fac- TL      CARE BB        350     Assigned
Royal Touch International Llp         Bk Fac             CARE BB/ 4A    138.5   Assigned
Shiv Shakti Knit Fabs                 LT Bk Fac          CARE B+        134.7   Reaffirmed
Increased from 10.20 CR
Slr Metaliks Ltd                      LT Bk Fac (Fund    CARE BBB (SO)  1150    Revised from
                                      Based)^                                   CARE BBB+ (SO)
^ backed by letter of comfort extended by SFI to secure the facilities.
Slr Metaliks Ltd                      LT Bk Fac (TL)@    CARE BBB+ (SO) 4400    Revised from
                                                                                CARE A- (SO)
@ backed by unconditional and irrevocable corporate guarantee provided Sociedade De Fomento
Industrial Private Limited (SFI)|
Sona Hi Sona Jewellers (Gujarat) Ltd  LT Bk Fac          CARE BB-       115     Reaffirmed
Ujjivan Small Finance Bank Ltd        Non- Convertible   --                     Withdrawn
                                      Debentures- (NCD
                                      VII)*
* Withdrawal based on the confirmation from the debenture trustee on the redemption of the
Non-Convertible debentures of Rs. 100 crore(NCD VII) and Rs. 100
Ujjivan Small Finance Bank Ltd        Non- Convertible   --                     Withdrawn
                                      Debentures- (NCD
                                      VIII)*
* Withdrawal based on the confirmation from the debenture trustee on the redemption of the
Non-Convertible debentures of Rs. 100 crore(NCD VII) and Rs. 100
Ujjivan Small Finance Bank Ltd        LT Bk Fac          CARE A+        60000   Reaffirmed
Ujjivan Small Finance Bank Ltd        Non- Convertible   CARE A+        400     Reaffirmed
                                      Debentures- (NCD V)
Ujjivan Small Finance Bank Ltd        Non- Convertible   CARE A+        600     Reaffirmed
                                      Debentures- (NCD
                                      VI)
Ujjivan Small Finance Bank Ltd        Non- Convertible   CARE A+        1000    Reaffirmed
                                      Debentures- (NCD
                                      IX)
United Bank Of India                  Perpetual Bonds    CARE A-        3000    Reaffirmed
                                      (Series I)
United Bank Of India                  Proposed Tier II   CARE A-                Withdrawn
                                      Bonds (Series
                                      VII-tranche2)
United Bank Of India                  Outstanding Lower  CARE A+        2500    Reaffirmed
                                      Tier II Bonds
                                      (Series VI)
United Bank Of India                  Outstanding Lower  CARE A+        2000    Reaffirmed
                                      Tier II Bonds
                                      (Series VII-tranche1)
Urvesh Psyllium Industries Ltd        Bk Fac             CARE BB- /A4   137.5
Long-term rating revised from CARE BB and Short-term rating reaffirmed to CARE A4 ; enhanced
from 9.50 CR
Vee Kay Vikram And Company Llp        LT Bk Fac          CARE BBB       20      Assigned
Vee Kay Vikram And Company Llp        Bk Fac             CARE BBB /A3+  14      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)

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