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CARE ratings for Indian debt instruments-Sep 8
September 8, 2017 / 4:48 AM / 13 days ago

CARE ratings for Indian debt instruments-Sep 8

    Sep 8 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 7, 2017.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Fullerton India Home Finance Co. Ltd. CP (CP) issue      CARE A1+       1000    Reaffirmed
Ivl Dhunseri Petrochem Industries Pvt ST Bk Fac          CARE A2+       7750    Placed on
Ltd                                                                             credit watch
                                                                                with Developing
                                                                                Implications
Ivl Dhunseri Petrochem Industries Pvt CP                 CARE A2+       1000    Placed on
Ltd                                                                             credit watch
                                                                                with Developing
                                                                                Implications
K. B. Tea Product Pvt Ltd             ST Bk Fac          CARE A4        4       Assigned
Kalpataru Power Transmission Ltd      CP Issue (carved   CARE A1+       2500    Reaffirmed
                                      out of working
                                      capital limits)
(enhanced from Rs.150.00 crore)
Kalpataru Power Transmission Ltd      CP Issue           CARE A1+       500     Reaffirmed
                                      (standalone)
La Opala Rg Ltd                       ST Bk Fac          CARE A1+       30      Reaffirmed
Lichi Ceramic                         ST Bk Fac          CARE A4        6       Assigned
Nilkanth Chawal Mills Pvt Ltd         ST Bk Fac          -              -       Withdrawn
(Reduced from 2.75 CR)
Phenil Sugars Ltd                     ST Bk Fac          CARE D         20      Revised from
                                                                                CARE A4
Rubamin Ltd                           ST Bk Fac          CARE A2+       559.7   Reaffirmed
(enhanced from 33.81 CR)
Shree Banke Bihari Buildcon           ST Bk Fac          CARE A4        70      Assigned
Shah Steel Impex Pvt Ltd              ST Bk Fac          -              -       Withdrawn
Up Alums Pvt Ltd                      ST Bk Fac          CARE A4        55      Assigned
Vijit International Pvt. Ltd          ST Bk Fac          CARE A4        10      Reaffirmed

LONG TERM RATINGS:
-------------------
Apollo Munich Health Insurance Co. LtdLT Instrument -    CARE AA        1540    Assigned
                                      Sub-ordinate Bonds
Classic Mall Development Company Pvt LNCDs (NCD) issue   CARE AA+(SO)   1000    -
                                      (Series 2*)
Fullerton India Credit Co. Ltd        NCD                CARE AAA       20785   Reaffirmed
(reduced from 2,395.00 CR)
Fullerton India Credit Co. Ltd        Subordinated Debt  CARE AAA       4500    Reaffirmed
Fullerton India Credit Co. Ltd        LT Bk Fac          CARE AAA       1500    Reaffirmed
Fullerton India Home Finance Co. Ltd. LT Debt programme  CARE AA+       5000    Reaffirmed
Icon Hospitality Pvt Ltd              LT Bk Fac@         CARE BBB-(SO)  180     Assigned
@ backed by unconditional and irrevocable corporate guarantee provided by Royal Orchid Hotels
Limited (rated CARE BBB-; Stable).
Interjewel Designs                    Long/ST Bk Fac (FB)CARE C /CARE A4-       Revised from
                                                                                CARE BB+ /
                                                                                CARE A4+
Interjewel Designs                    Long/ST Bk Fac-    CARE C /CARE A4-       Revised from
                                      Non-Fund Based                            CARE BB+ /
                                                                                CARE A4+
Ivl Dhunseri Petrochem Industries Pvt LT/ST Bk Fac       CARE A- /CARE  6000    Placed on
Ltd                                                      A2+                    credit watch
                                                                                with Developing
                                                                                Implications
Ivl Dhunseri Petrochem Industries Pvt LT Bk Fac          CARE BBB-      64      Reaffirmed
Ltd
K. B. Tea Product Pvt Ltd             LT Bk Fac          CARE BB        56      Assigned
Kalpataru Power Transmission Ltd      LT Bk Fac          CARE AA        9125    Reaffirmed
(reduced from Rs.920 crore)
Kalpataru Power Transmission Ltd      Outstanding        CARE AA        2000#   Reaffirmed
                                      NonConvertible
                                      Debenture Issue – IV and V*
# Rs.100 crore repaid on September 5, 2017
Kalpataru Power Transmission Ltd      Outstanding        CARE AA        2000    Reaffirmed
                                      NonConvertible
                                      Debenture Issue 
                                      – VI and VII*
Kalpataru Power Transmission Ltd      Proposed NCD Issue CARE AA        2000    Reaffirmed
                                      – VIII and IX
Kalpataru Power Transmission Ltd      LT / ST Bk Fac     CARE AA /CARE  88648.5 Reaffirmed
                                                         A1+
(enhanced from Rs.7,864.85 crore)
La Opala Rg Ltd                       LT Bk Fac          CARE AA-       50      Reaffirmed
La Opala Rg Ltd                       LT/ST Bk Fac       CARE AA- /CARE 50      Reaffirmed
                                                         A1+
(Reduced from 2.75 CR)
Lichi Ceramic                         LT Bk Fac          CARE B+        99.5    Assigned
Maanaveeya Development & Finance Pvt  NCD                -              -       Withdrawn
Ltd
Maanaveeya Development & Finance Pvt  LT Bk Fac          CARE BBB+      600     Revised from
Ltd                                                                             CARE BBB
Magma Itl Finance Ltd                 LT Bk Fac          CARE A-        1892.3  -
Magma Itl Finance Ltd                 LT Bk Fac #        CARE A+(SO)    1391.7  -
Micro Polypet Pvt Ltd                 LT Bk Fac          CARE BBB-      4624.1  Placed on
                                                                                credit watch
                                                                                with Developing
                                                                                Implications
Micro Polypet Pvt Ltd                 LT/ST Bk Fac       CARE BBB-      1420    Placed on
                                                         /CARE A3               credit watch
                                                                                with Developing
                                                                                Implications
Nilkanth Chawal Mills Pvt Ltd         LT Bk Fac          CARE B+        40      Revised from
                                                                                CARE D
ISSUER NOT COOPERATING,(Reduced from 5.07)

Nithya Tobaccos                       LT Bk Fac          CARE B+        120     Assigned
Phenil Sugars Ltd                     LT Bk Fac          CARE D         700     Revised from
                                                                                CARE BB-
Pilania Industries (I) Pvt Ltd        LT Bk Fac          CARE BB-       110     Assigned
Protech Feed Pvt Ltd                  LT Bk Fac          CARE BB-       109.5   Reaffirmed
(enhanced from 9.35 CR)
Rubamin Ltd                           LT Bk Fac          CARE A-        2252.5  Reaffirmed
(enhanced from 173.15 CR)
Shah Steel Impex Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Shree Banke Bihari Buildcon           LT Bk Fac          CARE B         30      Assigned
Sidhant Creations Pvt Ltd             LT Bk Fac          CARE BB-       50.6    Reaffirmed
Sidhant Creations Pvt Ltd             LT/ST Bk Fac       CARE BB- /CARE 150     Reaffirmed
                                                         A4
Surat Hazira Nh-6 Tollway P Ltd       LT Bk Fac          CARE D         24000   Revised from
                                                                                CARE B
Up Alums Pvt Ltd                      LT Bk Fac          CARE BB-       95      Assigned
Vijit International Pvt. Ltd          LT Bk Fac          CARE B+        60      Reaffirmed
Vinayak Buildtech                     LT Bk Fac          CARE BBB       235     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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