CARE ratings for Indian debt instruments-Sep 7

By Reuters / September 08, 2018 / in.investing.com / Article Link

Sep 7 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of September 6, 2018. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) -------

----------

------

------- --------- SHORT TERM RATINGS: ------------------- Ahimsa Industries Ltd

ST Bk Fac

CARE A4+

50

Reaffirmed Bansal Spinning Mills Ltd

ST Bk Fac

CARE A4+

650

Revised from

CARE A3 (Issuer not cooperating) Clrk Extractions And Exports Pvt Ltd ST Bk Fac

CARE A4

30

Issuer not

cooperating;

Based on

best available

information Hariom Pipe Industries Ltd (Erstwhile ST Bk Fac

CARE A4+

45

Reaffirmed Hariom Concast & Steels Pvt Ltd) Jindal Hotels Ltd

ST Bk Fac

CARE A3

80

Assigned Kanhaiyalal Kalyanmal

ST Bk Fac

CARE A3

78

Assigned Karnavati Polyester Pvt Ltd

ST Bk Fac

CARE A3

0.5

Rating

revised CARE

A4+ Kic Metaliks Ltd

ST Bk Fac

CARE A3+

320

Revised from

CARE A3 Maharaja Cotspin Ltd

ST Bk Fac

CARE A4+

156

Revised from

CARE A4 Om Construction Co.

ST Bk Fac

CARE A4

60

Assigned Rolex Processors Pvt Ltd

ST Bk Fac

-

-

Withdrawn Kisan Mouldings Ltd

ST Bk Fac

CARE D

912.5 Revised from

CARE A4 Minda Kyoraku Ltd

ST Bk Fac- Nonfund CARE A-

15

Assigned

based Pankaj C. Patel

ST Bk Fac

CARE A4

10

Assigned Pasupati Acrylon Ltd

ST Bk Fac

CARE A2

2799.6 Reaffirmed Saffron Specialty Papers Pvt Ltd

ST Bk Fac

CARE A4

35

- (Issuer not cooperating)

Based on

best available

information Shri Siddhi Vinayak Trust

ST Bk Fac

CARE A4

3.4

Reaffirmed Sigachi Industries Pvt Ltd

ST Bk Fac

CARE A3

27.5

Reaffirmed Suraksha Realty Ltd

ST NCD issue -1

CARE A1+(SO) 2000* Reaffirmed *backed by credit enhancement in the form of unconditional and irrevocable corporate guarantee by Lakshdeep Investments and Finance Private Limited (LIFPL, guarantor). Suraksha Realty Ltd

ST NCD issue – 2 CARE A1+(SO) 1000* Reaffirmed *backed by credit enhancement in the form of unconditional and irrevocable corporate guarantee by Lakshdeep Investments and Finance Private Limited (LIFPL, guarantor). Suraksha Realty Ltd

ST NCD issue – 3 CARE A1+(SO) 1900* Final Rating

Assigned *backed by credit enhancement in the form of unconditional and irrevocable corporate guarantee by Lakshdeep Investments and Finance Private Limited (LIFPL, guarantor). Suraksha Realty Ltd

CP – 1**

CARE A1+(SO) 5000

- ** based on the credit enhancement in the form of unconditional and irrevocable corporate guarantee by Lakshdeep Investments and Finance Private Limited (LIFPL, guarantor). The guarantee is provided on joint and several basis along with Khyati Realtors Private Limited (KRPL; wholly owned subsidiary of LIFPL) Suraksha Realty Ltd

CP – 2 %

CARE A1+(SO) 6500

- % based on the credit enhancement in the form of unconditional and irrevocable corporate guarantee by Lakshdeep Investments and Finance Private Limited (LIFPL, guarantor). Suraksha Realty Ltd

Proposed ST NCD

Provisional

100** Reaffirmed

CARE A1+(SO) **to be backed by credit enhancement in the form of unconditional and irrevocable corporate guarantee by Lakshdeep Investments and Finance Private Limited (LIFPL, guarantor).The rating is provisional (to the extent of Rs 10 crore) and is subject to the necessary documents being executed and the final rating would be assigned on submission and verification of executed documents to the satisfaction of CARE. Swastik Copper Pvt Ltd

ST Bk Fac

CARE A4

400

- (Issuer not cooperating) Based on best available information Torneto Foods International Pvt Ltd ST Bk Fac

CARE A4

2.5

Reaffirmed Victory Ceratech Pvt Ltd

ST Bk Fac

CARE A3

40

Revised from

CARE A4+ Virat Spinners Pvt Ltd

ST Bk Fac

CARE A4

20

Reaffirmed LONG TERM RATINGS: ------------------- Ahimsa Industries Ltd

LT Bk Fac

CARE BB+

17.4

Reaffirmed Ahimsa Industries Ltd

LT/ST Bk Fac

CARE BB+/CARE 70

Reaffirmed

A4+ Arora Construction Company Pvt Ltd

LT Bk Fac

CARE BB

50

Revised from

CARE BB+ Arora Construction Company Pvt Ltd

LT/ST Bk Fac

CARE BB /CARE 150

Revised from

A4

CARE BB+ /

CARE A4+ Balaji Cotton Agros

Long -term Bk Fac CARE B+

140

Assigned Bansal Spinning Mills Ltd

LT Bk Fac

CARE BB+

1099.2 Revised from

CARE BBB- (Issuer not cooperating) Blue Craft Business Ventures Llp

LT Bk Fac

CARE BBB

550

Assigned Clrk Extractions And Exports Pvt Ltd LT Bk Fac

CARE BB-

350

Issuer not

cooperating;

Based on

best available

information Datta Krupa Roller Flour Mill Pvt. LtdLT Bk Fac

CARE BB+

250

Revised from

CARE BBB- Dharwad Metallics Pvt Ltd

Long -term Bk Fac CARE D

63

- (Issuer not cooperating), based on best available information E-City Projects Lucknow Pvt Ltd

LT Bk Fac

-

-

Withdrawn Ekam Agro Pvt Ltd

LT Bk Fac

CARE BB-

139.8 - (Issuer not cooperating); Based on best available information Ganpat Rai Shri Ram And Company

LT Bk Fac

CARE B+

120

Assigned Golden Triangle Fort And Palace Pvt Ltd LT Bk Fac

-

-

Withdrawn Greentech Mega Food Park Ltd

LT Bk Fac

CARE BB

300

Reaffirmed Happy Home Corporation

LT Bk Fac

CARE BB+

3852

Revised from

CARE BBB- (Issuer not cooperating); Hariom Pipe Industries Ltd (Erstwhile LT Bk Fac

CARE BB+

191.5 Reaffirmed Hariom Concast & Steels Pvt Ltd) Harita Seating Systems Ltd

LT Bk Fac

CARE A

278

Revised from

CARE A- Harita Seating Systems Ltd

Long/ ST Bk Fac

CARE A /CARE A150

Revised from

CARE A-/ CARE

A2+ Il&Fs Energy Development Co. Ltd

LT Fac

CARE BB-

11378.5 Revised from

CARE A+ Il&Fs Energy Development Co. Ltd

NCDs

CARE BB-

5000

Revised from

CARE A+ India Mega Agro Anaj Ltd

LT Bk Fac

CARE BB+

250

Revised from

CARE BBB Jindal Hotels Ltd

LT Bk Fac

CARE BBB-

70

Assigned Jindal Industries

LT Bk Fac

CARE B+

148

Assigned Kanhaiyalal Kalyanmal

LT/ST Bk Fac

CARE BBB-/CARE 30

Assigned

A3 Karnavati Polyester Pvt Ltd

LT Bk Fac

CARE BBB-

47.7

Rating

revised from

CARE BB+ Kic Metaliks Ltd

LT Bk Fac

CARE BBB

570

Revised from

CARE BBB- Kisan Mouldings Ltd

LT Bk Fac

CARE D

2087.5 Revised from

CARE B+ Krishna Reddy Rural Godowns

LT Bk Fac

CARE B+

63

Assigned Madhav Cotton Pvt Ltd

LT Bk Fac (TL)

-

-

Withdrawn Madhav Cotton Pvt Ltd

LT Bk Fac (CC)

CARE B+

-

Reaffirmed Madhuri P. Rural Godowns

LT Bk Fac

CARE B+

100

Assigned Maharaja Cotspin Ltd

LT Bk Fac

CARE BB+

287.4 Revised from

CARE BB Minda Kyoraku Ltd

LT Bk Fac-TL

CARE A-

410.5 Assigned Minda Kyoraku Ltd

LT Bk Fac-CC

CARE A-

135

Assigned Nvr Mahasolar Pvt Ltd

LT Bk Fac

CARE A-

2369.2 Revised from

CARE BBB Om Construction Co.

LT Bk Fac

CARE BB-

20

Assigned P Padma Rural Godowns

LT Bk Fac

CARE B+

1000

Assigned Pankaj C. Patel

LT Bk Fac

CARE B-

42

Assigned Pasupati Acrylon Ltd

LT Bk Fac

CARE BBB+

113.6 Reaffirmed R.S. Ispat

LT Bk Fac

CARE B+

65

Assigned Ravindra Rice And General Mills

LT Bk Fac

CARE B+;

165

- (Issuer not cooperating) Rolex Processors Pvt Ltd

Long -term Bk Fac CARE B+

451.7 Revoked from

CARE B+ Saffron Specialty Papers Pvt Ltd

LT Bk Fac/ ST Bk CARE B+/CARE 45

Revised from

Fac

A4;

CARE BB- (Issuer not cooperating); Samhi Hotels Pvt Ltd.

LT Bk Fac- TL

CARE BBB+

2855.6 Assigned Samhi Hotels Pvt Ltd.

LT Bk Fac- CC

CARE BBB+

300

Assigned Samhi Hotels Pvt Ltd.

Non FB – LT/ST-

CARE BBB+/CARE 92

Assigned

LC/BG

A2 Shri Siddhi Vinayak Trust

LT Bk Fac

CARE BB

45.5

Revised from

CARE BB- Siddhi Vinayak Importers

LT Bk Fac

CARE B+

60

Assigned Sigachi Industries Pvt Ltd

LT Bk Fac

CARE BBB-

289.5 Reaffirmed Sri Venkateswara Aerospace Pvt Ltd

LT Bk Fac

CARE BB

6

Revised from

CARE BB- Sri Venkateswara Aerospace Pvt Ltd

LT / ST Bk Fac

CARE BB/CARE A4180.4 Revised from

CARE BB-/

CARE A4 Sri Venkateswara Mechanical And

LT Bk Fac

CARE BB-

23.4

Reaffirmed Electrical Engineering Industries Sri Venkateswara Mechanical And

LT/ ST Bk Fac

CARE BB-;/CARE 106.6 Reaffirmed Electrical Engineering Industries

A4 Swastik Copper Pvt Ltd

LT Bk Fac

CARE B+

200

- (Issuer not cooperating) Based on best available information Swathi Sunsoure Power Pvt Ltd

Long -term Bk Fac CARE B+

140

- (Issuer not cooperating) Swathi Sunsoure Power Pvt Ltd

Long –term/ST Bk CARE B+ /CARE 60

-

Fac

A4; (Issuer not cooperating) Torneto Foods International Pvt Ltd LT Bk Fac

CARE B+

36.1

Reaffirmed Torneto Foods International Pvt Ltd LT/ ST Bk Fac

CARE B+/CARE A430

Reaffirmed United Carbon

LT Bk Fac

CARE BB-

70

Assigned Uttranchal Ispat Pvt Ltd

LT Bk Fac

CARE B+

110

Revised from

CARE BB+; (Issuer not cooperating) Victory Ceratech Pvt Ltd

LT Bk Fac

CARE BBB-

39

Revised from

CARE BB+ Victory Ceratech Pvt Ltd

LT/ST Bk Fac

CARE BBB-/CARE 30

Revised from

A3

CARE BB+/CARE

A4+ Virat Spinners Pvt Ltd

LT Bk Fac

CARE BB

68.3

Reaffirmed Virat Spinners Pvt Ltd

LT/ST Bk Fac

CARE BB/CARE A465

Reaffirmed Visage Holdings And Finance Pvt Ltd LT Bk Fac

CARE BBB

2390

Reaffirmed Vishwakarma Auto Parts Pvt Ltd

LT Bk Fac

CARE B+

106.3 Reaffirmed Wipro (NS:WIPR) Enterprises (P) Ltd

Issuer Rating

CARE AAA (Is) -

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.

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