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CARE ratings for Indian debt instruments-Jul 2
July 2, 2012 / 5:31 AM / 5 years ago

CARE ratings for Indian debt instruments-Jul 2

Jul 2 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 29, 2012.


COMPANY                             INSTRUMENT           RATING        AMOUNT      MOVEMENT
                                                                       (RS.MLN)
-------                             ----------           ------        -------     ---------
SHORT TERM RATINGS:
-------------------
Dhanlaxmi Bank Ltd.                 CD                  CARE A2         15000      Revised from
                                                                                   CARE A2+
Housing Development And             ST NCD              CARE A3+        2000       Revised from
Infrastructure Ltd                                                                 CARE A2+

issued Rs.50 crore
Leo Meridian Infrastructure         ST Bk Fac           CARE A4         238.5      Revised from
Projects & Hotels Ltd                                                              CARE A3
Macronet Mercantile Pvt Ltd.        ST Bk Fac           CARE A1+ (SO)   15000      credit watch
Reliance Communications             ST Bk Fac           CARE A1+ (SO)   11800      credit watch
Infrastructure Ltd.
Reliance Communications Ltd         CP/STD              CARE A1+        145000     credit watch
Shree Rajasthan Syntex Ltd          ST Bk Fac           CARE A4         275.3      Revised from
                                                                                   CARE A3
Surana Industries Ltd               ST Bk Fac           CARE A4+        1031.7     Revised from
                                                                                   CARE A3
Enhanced from Rs 77.10 Cr

LONG TERM RATINGS:
-------------------
Dena Bank                           Lower Tier II Bonds CARE AA+        1200       Assigned
Dhanlaxmi Bank Ltd.                 Lower Tier II Bonds CARE BBB        4100       Revised from
                                                                                   CARE BBB+
Dhanlaxmi Bank Ltd.                 Upper Tier II Bonds CARE BBB-       2000       Reaffirmed
Gajanand Ginning And Pressing Pvt.  LT Bk Fac           CARE B          60         Assigned
Ltd.
Gangotri Enterprises Ltd            LT Bk Fac           CARE BBB        8200       Revised from
                                                                                   CARE BBB+
Gei Industrial Systems Ltd.         Bk Fac              --                         Suspended
Gei Power Ltd                       Bk Fac              --                         Suspended
Giga Solutions Pvt Ltd.             Bk Fac              CARE A+(SO)     50         Revised from
                                                        /A1+(SO)                   CARE AA
                                                                                   (SO)/A1+ (SO)
Haryana Cybernet Pvt Ltd.           Bk Fac              CARE A+(SO)     50         Revised from
                                                        /A1+(SO)                   CARE AA
                                                                                   (SO)/A1+ (SO)
Housing Development And             NCD I               CARE BBB+       2278.7     Revised from
Infrastructure Ltd                                                                 CARE A
Housing Development And             NCD II              CARE BBB+       16675      Revised from
Infrastructure Ltd                                                                 CARE A
Infomagic Services Pvt Ltd          Bk Fac              CARE A+(SO)     50         Revised from
                                                        /A1+(SO)                   CARE AA
                                                                                   (SO)/A1+ (SO)
Kalyan Jewels Pvt. Ltd.             Bk Fac              --                         Suspended
Kamat Hotels (India) Ltd            LT Bk Fac           --              2888.8     Suspended
Kamat Hotels (India) Ltd            ST Bk Fac           --              30         Suspended
Kerala Communication                Bk Fac              CARE A+(SO)     120        Revised from
                                                        /A1+(SO)                   CARE AA
                                                                                   (SO)/A1+ (SO)
Leo Meridian Infrastructure         LT Bk Fac           CARE B          5171.8     Revised from
Projects & Hotels Ltd                                                              CARE BBB-
Network Pvt Ltd                     Bk Fac              CARE A+(SO)                Revised from
                                                        /A1+(SO)                   CARE AA
                                                                                   (SO)/A1+ (SO)
Prime Property Development          Bk Fac              --                         Notice of
Corporation Ltd                                                                    Withdrawal
Punjab Cybernet Pvt Ltd             Bk Fac              CARE A+(SO)     50         Revised from
                                                        /A1+(SO)                   CARE AA
                                                                                   (SO)/A1+ (SO)
Reliance Big Tv Ltd.                Bk Fac              CARE A+(SO)     900        Revised from
                                                        /A1+(SO)                   CARE AA
                                                                                   (SO)/A1+ (SO)
Reliance Communications Ltd         NCD                 CARE A+         30000      Revised from
                                                                                   CARE AA
Reliance Communications Ltd         LT Bk Fac           CARE A+         33000      Revised from
                                                                                   CARE AA
Reliance Webstore Ltd               Bk Fac              CARE A+(SO)     200        Revised from
                                                        /A1+(SO)                   CARE AA
                                                                                   (SO)/A1+ (SO)
Reliance Wimax Ltd.                 Bk Fac              CARE A+(SO)     50         Revised from
                                                        /A1+(SO)                   CARE AA
                                                                                   (SO)/A1+ (SO)
Sheel Diamond Exports Ltd           Bk Fac              --                         Notice of
                                                                                   Withdrawal
Sheel Gems                          Bk Fac              --                         Notice of
                                                                                   Withdrawal
Shree Rajasthan Syntex Ltd          LT Bk Fac           CARE BB         1447.8     Revised from
                                                                                   CARE BBB-
Surana Industries Ltd               LT Bk Fac           CARE BB+        3322.8     Revised from
                                                                                   CARE BBB-
Reduced from Rs 442.91 Cr
Surana Industries Ltd               Bk Fac              CARE BB+ /A4+   1917       Revised from
                                                                                   CARE BBB-/ A3
Enhanced from Rs 107.84 Cr
Uttar Pradesh Network Pvt Ltd.      Bk Fac              CARE A+(SO)     50         Revised from
                                                        /A1+(SO)                   CARE AA
                                                                                   (SO)/A1+ (SO)
VS Industriess                      LT Bk Fac           CARE BB         70         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, E-mail at rru.data@thomsonreuters.com)

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