CARE ratings for Indian debt instruments-Dec 1

Source : REUTERS
Last Updated: Thu, Dec 01, 2016 11:40 hrs

Dec 1 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of November 30, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- Accel Frontline Ltd ST Bk Fac CARE A4+ 525 Reaffirmed Removed from Credit Watch Bhageria Industries Ltd Bk Fac-FB - ST CARE A3+ 405.8 Assigned Bhageria Industries Ltd Bk Fac-Non-FB - ST CARE A3+ 80 Assigned Gmmco Ltd CP (CP) issue* CARE A1+ 2000 Reaffirmed *Carved out of the sanctioned fund based working capital limits J G Spinning Mills Pvt Ltd ST Bk Fac CARE A4+ 51 Reaffirmed Kanupat Himghar Pvt Ltd ST Bk Fac CARE A4 0.9 Reaffirmed Oilex Engineers (India) Pvt Ltd ST Bk Fac CARE A4+ 73 Reaffirmed Prince Pipes & Fittings Pvt Ltd ST Bk Fac CARE A3+ 1800 Revised from CARE A3 Realcade Lifescience Pvt Ltd ST Bk Fac CARE A4 8.5 Assigned Visaka Industries Ltd ST Bk Fac CARE A1+ 1850 Reaffirmed MEDIUM TERM RATINGS: ------------------- Visaka Industries Ltd Fixed Deposit CARE A+ (FD) 250 Reaffirmed programme LONG TERM RATINGS: ------------------- Realcade Lifescience Pvt Ltd LT Bk Fac CARE B 270 Reaffirmed Accel Frontline Ltd LT Bk Fac CARE BB+ 490 Reaffirmed Removed from Credit Watch Ambani Builders Pvt Ltd LT Bk Fac CARE B+ 100 Assigned Bhageria Industries Ltd Bk Fac-FB - LT CARE BBB 64.2 Assigned Bhageria Industries Ltd Bk Fac-FB - LT CARE BBB 1050 Reaffirmed Dredging Corporation Of India Ltd Tax Free, Secured, CARE AA 588.8 Revised from Redeemable CARE AA NonConvertible Debentures Giridhar Techfab Pvt Ltd LT Bk Fac CARE B 110.5 Assigned Giridhar Techfab Pvt Ltd LT/ST Bk Fac CARE B /CARE A44.5 Assigned Gmmco Ltd LT Bk Fac CARE AA 6832.2 Reaffirmed Gmmco Ltd Long/ ST Bk Fac CARE AA /CARE 5000 Reaffirmed A1+ Gmr Bajoli Holi Hydropower Pvt Ltd LT Bk Fac (TL) CARE BBB- 13800 Reaffirmed Gmr Bajoli Holi Hydropower Pvt Ltd LT Bk Fac (Non CARE BBB- 250 Reaffirmed Fund based) Gulam Mustafa Enterprises Pvt. Ltd. NCD CARE BB (SO) 3550 Reaffirmed Gulam Mustafa Enterprises Pvt. Ltd. NCD Issue @ CARE BB (SO) 230 Final rating @ CARE has confirmed the earlier 'Provisional' rating assigned to above NCDs upon execution and submission of final term sheet, amended and restated Debenture Trust Deed, cash sweep agreement and other documents. Gupta Enterprises LT/ST Bk Fac - CARE BBB/CARE 295 Reaffirmed Indian Overseas Bk A3+ Gupta Enterprises LT/ST Bk Fac - CARE BBB/CARE 4.9 Reaffirmed Indian Overseas Bk A3+ Gupta Enterprises LT/ST Bk Fac - CARE BBB/CARE 295 Assigned Indian Bk A3+ Gupta Enterprises LT/ST Bk Fac - CARE BBB/CARE 295 Assigned Indian Bk A3+ Gupta Enterprises LT/ST Bk Fac - CARE BBB/CARE 2.5 Assigned Indian Bk A3+ Gupta Hair Products Pvt Ltd LT /ST Bk Facility CARE BBB /CARE 147.5 Reaffirmed A3+ J G Spinning Mills Pvt Ltd LT Bk Fac CARE BB+ 299.6 Reaffirmed Kanupat Himghar Pvt Ltd LT Bk Fac CARE B+ 110.9 Reaffirmed Ktc Threads LLP LT Bk Fac CARE B+ 28.7 Reaffirmed Ktc Threads LLP LT/ ST Bk Fac CARE B+/CARE A4110 Reaffirmed Maniam Properties Pvt Ltd LT Bk Fac CARE BB+ 500 Assigned Oilex Engineers (India) Pvt Ltd LT Bk Fac CARE BB+ 2 Reaffirmed Oilex Engineers (India) Pvt Ltd LT/ ST Bk Fac CARE BB+/CARE 20 Reaffirmed A4+ Phoenix Projects Pvt Ltd LT Bk Fac CARE BBB- 110 Reaffirmed Phoenix Projects Pvt Ltd LT / ST Bk Fac CARE BBB- 440 Reaffirmed /CARE A3 Prince Pipes & Fittings Pvt Ltd LT Bk Fac CARE BBB+ 3083.5 Revised from CARE BBB Visaka Industries Ltd LT Bk Fac CARE A+ 2859.1 Reaffirmed Visaka Industries Ltd LT/ ST Bk Fac CARE A+/CARE 1185 Reaffirmed A1+ -------------------------------------------------------------------------------------------- $: 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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