CARE ratings for Indian debt instruments-Dec 2

Source : REUTERS
Last Updated: Fri, Dec 02, 2016 10:00 hrs

Dec 2 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of December 1, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- Agnice Fire Protection Pvt Ltd ST Bk Fac CARE A4+ 200 Reaffirmed Ganpati Plastfab Ltd ST Bk Fac CARE A3 19 Reaffirmed Ganpati Plastfab Ltd ST Bk Fac CARE A3 83 Reaffirmed Jk Tyre & Industries Ltd ST Bk Fac CARE A1+ 15060.2 Reaffirmed Jk Tyre & Industries Ltd ST Instruments (CP)CARE A1+ 3000* Reaffirmed *carved out of the sanctioned working capital limits of the company Jk Tyre & Industries Ltd ST Instruments (CP)CARE A1+ 2000 Reaffirmed M.K. Agrotech Pvt Ltd ST Bk Fac - ILC/FLCCARE A2+ 1900 Reaffirmed M.K. Agrotech Pvt Ltd ST Bk Fac - BG CARE A2+ 5 Reaffirmed M.K. Agrotech Pvt Ltd ST Bk Fac - CARE A2+ 30 Reaffirmed Forward Cover Limit Merino Panel Products Ltd ST Bk Fac CARE A1+ 500 Reaffirmed Integrated Thermoplastics Ltd ST Bk Fac CARE D 65 Reaffirmed Niagara Metals India Ltd ST Bk Fac CARE A3 50 Assigned Novelty Reddy And Reddy Motors Pvt LtdST Bk Fac CARE A4 15 Reaffirmed Poornima Handicrafts Pvt Ltd ST Bk Fac CARE A4 34 Assigned Reddy And Reddy Motors ST Bk Fac CARE A4 10 Reaffirmed Vindhya Telelinks Ltd ST Bk Fac CARE A1+ 11762.6 Revised from CARE A1 MEDIUM TERM RATINGS: ------------------- Sreeragh General Finance Ltd Fixed deposits CARE BBB (FD) 50.1 Reaffirmed LONG TERM RATINGS: ------------------- Agnice Fire Protection Pvt Ltd LT Bk Fac CARE BB+ 50 Reaffirmed Avanse Financial Services Ltd NCD CARE AA(SO) 250 Assigned Avanse Financial Services Ltd LT Bk Fac CARE AA+(SO) 250 Final rating Avanse Financial Services Ltd LT Bk Fac CARE AA+(SO) 5110 Reaffirmed Avanse Financial Services Ltd LT Bk Fac CARE AA+(SO) 2140 Reaffirmed Avanse Financial Services Ltd NCD CARE AA+(SO) 700 Assigned Avanse Financial Services Ltd NCD CARE AA+(SO) 1300 Assigned Best Knitting Mills Pvt Ltd Bk Fac Suspended Ganpati Plastfab Ltd LT Bk Fac CARE BBB- 45.8 Reaffirmed Gaya Railway Infra Pvt Ltd LT Bk Fac CARE B+ 90 Assigned Gujarat Gas Ltd LT/ST Bk Fac CARE AA/CARE 20000 Assigned A1+ Integrated Thermoplastics Ltd LT Bk Fac CARE D 145 Reaffirmed Jagdambey Hydro Projects Llp LT Bk Fac* CARE A- (SO) 600 Reaffirmed *Backed by unconditional and irrevocable corporate guarantee extended by Zaveri and Company Private Limited (ZCPL) Jai Venkay Poultry Farms LT Bk Fac CARE D 77.4 Assigned Jk Tyre & Industries Ltd LT Bk Fac CARE AA- 36589.8 Reaffirmed Jk Tyre & Industries Ltd LT / ST CARE AA- 1000 Reaffirmed Instruments - (FD)/CARE A1+ Fixed Deposit (FD) Jk Tyre & Industries Ltd LT / ST Bk Fac CARE AA- /CARE 3500 Reaffirmed A1+ Ksk Water Infrastructures Pvt Ltd LT Bk Fac CARE D 6367.3 Revised from CARE BB+ (SO) Leela Krishna Automobiles Pvt Ltd LT Bk Fac CARE BB 335 Reaffirmed M.K. Agrotech Pvt Ltd LT Bk Fac - CARE A- 330 Assigned External Commercial Borrowings M.K. Agrotech Pvt Ltd LT Bk Fac - CC CARE A- 10 Reaffirmed Madhav Tex Spin Pvt Ltd LT Bk Fac CARE BB 579.8 Assigned Madhav Tex Spin Pvt Ltd LT/ST Bk Fac CARE BB/CARE A4100 Assigned Mahindra Aerostructures Pvt Ltd LT Bk Fac- FB CARE BBB+ 672 Reaffirmed Mahindra Aerostructures Pvt Ltd LT Bk Fac- CARE BBB+ 40 Reaffirmed Non-fundbased Mahindra Aerostructures Pvt Ltd LT Bk Fac- FBCC Reaffirmed Merino Panel Products Ltd LT Bk Fac CARE AA- 120 Revised from CARE A+ Merino Panel Products Ltd Long/ST Bk Fac CARE AA-/CARE 80 Revised from A1+ CARE A+/CARE A1+ Niagara Metals India Ltd LT Bk Fac CARE BBB- 70 Assigned Novelty Reddy And Reddy Motors Pvt LtdLT Bk Fac CARE BB-; 100 Reaffirmed Plastex Products Pvt Ltd Bk Fac Suspended Poornima Handicrafts Pvt Ltd LT Bk Fac CARE B 31 Assigned Poornima Handicrafts Pvt Ltd LT/ST Bk Fac CARE B/CARE A4 49 Assigned Radha Krishna Automobiles Pvt Ltd LT Bk Fac CARE BB 545 Reaffirmed Raghuraj Exports Pvt Ltd LT Bk Fac CARE B 121.9 Assigned Raghuraj Exports Pvt Ltd LT/ST Bk Fac CARE B/CARE A4 21.1 Assigned Reddy And Reddy Motors LT Bk Fac CARE BB-; 101 Reaffirmed Sanskar Synthetics Pvt Ltd LT Bk Fac CARE BB-; 133.6 Reaffirmed Sg Pharma Pvt Ltd LT Bk Fac CARE BBB 150 Assigned Shree Jagannath Expressways Pvt Ltd LT Bk Fac CARE BB 10586 Revised from CARE D Vindhya Telelinks Ltd LT Bk Fac CARE AA- 6625 Revised from CARE A+ Vindhya Telelinks Ltd Proposed NCDs CARE AA- 500 Assigned (NCDs) Issue -------------------------------------------------------------------------------------------- $: 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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