CARE ratings for Indian debt instruments-Feb 16

Last Updated: Thu, Feb 16, 2017 11:20 hrs

Feb 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of February 15, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- Alpha Foam Ltd ST Bk Fac CARE A3+ 16 Assigned Ambattur Clothing Pvt Ltd ST Bk Fac CARE A2 126 Reaffirmed Aquatica Frozen Foods Global Pvt Ltd ST Bk Fac CARE A4+ 380 Reaffirmed Askar Microns Pvt Ltd ST Bk Fac CARE A4 82 Reaffirmed Chemrow India Pvt Ltd ST Bk Fac CARE A4 295 Reaffirmed E Vaidya Pvt Ltd ST Bk Fac CARE A4 21.5 Assigned Esaf Microfinance And Investments Pvt CP issue CARE A1 3300 Assigned Ltd Garg Casteels Pvt Ltd ST Bk Fac CARE A4 30 Reaffirmed H.K. Designs (India) ST Bk Fac – Non-FB CARE A2+ 38.7 Reaffirmed Kbk Chem Engineering Pvt Ltd ST Bk Fac CARE A4 90 Assigned King Refineries Pvt Ltd ST Bk Fac CARE A4 40 Reaffirmed Lord Shiva Construction Company Pvt ST Bk Fac CARE A4 13.8 Reaffirmed Ltd Muralikrishna Infracon (Bangalore) PvtST Bk Fac CARE A4 150 Reaffirmed Ltd Naresh Singhal & Company ST Bk Fac CARE A4 45 Reaffirmed National Bulk Handling Corporation PvtST Bk Fac CARE A1+ 3735 Reaffirmed Ltd National Bulk Handling Corporation PvtCP issue* CARE A1+ 350 Reaffirmed Ltd *Carved out of the sanctioned working capital limits of the company. Navinchandra Laxmichand Shah ST Bk Fac CARE A4+ 460 Reaffirmed Prem Industries LT Bk Fac/ ST Bk CARE A4 0.5 Reaffirmed Fac S. S. Construction ST Bk Fac CARE A4+ 95 Revised from CARE A4 (reduced from Rs.10.00 crore) Sar Clothing India Pvt Ltd ST Bk Fac CARE A4+ 50 Reaffirmed Silvershine Corporation ST Bk Fac CARE A4 29.5 Assigned Utkarsh Tubes And Pipes Ltd ST -Bk Fac CARE A3 672.2 Reaffirmed (enhanced from 29.31crs) LONG TERM RATINGS: ------------------- Alpha Foam Ltd LT Bk Fac CARE BBB 381.7 Assigned Ambattur Clothing Pvt Ltd LT/ ST Bk Fac CARE BBB /CARE 230 Reaffirmed A2 Aquatica Frozen Foods Global Pvt Ltd LT Bk Fac CARE BB+ 79.1 Reaffirmed Array Land Developers Pvt Ltd LT Bk Fac CARE BB+ 336.1 Assigned Askar Microns Pvt Ltd LT Bk Fac CARE BB- 90 Reaffirmed Baba Global Ltd LT Bk Fac - - Withdrawn Cfc Carriers Pvt Ltd LT Bk Fac CARE BB 147.5 Reaffirmed Chemrow India Pvt Ltd LT Bk Fac CARE BB- 55 Reaffirmed Digamber Capfin Ltd. LT Bk Fac CARE BB+ 850 Reaffirmed (reduced from 60.00crs) E Vaidya Pvt Ltd LT Bk Fac CARE B 72.5 Assigned Esaf Microfinance And Investments Pvt NCD issue CARE A- 6700 Assigned Ltd (Proposed) Garg Casteels Pvt Ltd LT Bk Fac CARE B 2 Reaffirmed (reduced from 0.44crs) Garg Casteels Pvt Ltd LT/ ST Bk Fac CARE B /CARE A4120 Reaffirmed H.K. Designs (India) LT / ST Bk Fac – FBCARE A /CARE 1036.3 Reaffirmed A2+ Jalore Jaswantpura Bot Project Pvt LtdLT Bk Fac CARE BBB- 307.1 Reaffirmed Jay Jalaram Enterprise LT Bk Fac CARE BB 118.7 Reaffirmed Kbk Chem Engineering Pvt Ltd LT Bk Fac CARE B- 150 Assigned Khushiya Industries Pvt Ltd LT Bk Fac CARE BB- 208 Revised from CARE B+ (reduced from 22.87crs) King Refineries Pvt Ltd LT Bk Fac CARE BB- 30 Reaffirmed Kiocl Ltd LT Bk Fac CARE AA 10 Assigned Kiocl Ltd LT/ST Bk Fac CARE AA /CARE 3690 Assigned A1+ Lord Shiva Construction Company Pvt LT Bk Fac CARE B+ 105 Revised from Ltd CARE B Lord Shiva Construction Company Pvt LT Bk Fac / ST Bk CARE B+ /CARE 75 Revised from Ltd Fac A4 CARE B / Reaffirmed Manav Sevarth Trust LT Bk Fac CARE A- 250 Assigned Mandakini Travel & Tours Pvt Ltd LT Bk Fac CARE B 46.2 Revised from CARE B- (Reduced from 11crs) Minerva Poultry Pvt. Ltd LT Bk Fac CARE B 49.1 Reaffirmed (reduced from 6.02crs) Mohammed Khan Jewellers Pvt Ltd LT Bk Fac CARE BB 178 Reaffirmed Muralikrishna Infracon (Bangalore) PvtLT Bk Fac CARE BB; 100 Reaffirmed Ltd Mysore Sales International Ltd Proposed LT/ST Bk - 500 Withdrawn Fac Naresh Singhal & Company LT Bk Fac CARE B+ 25 Reaffirmed National Bulk Handling Corporation PvtLT Bk Fac CARE A+ 975 Reaffirmed Ltd National Bulk Handling Corporation PvtLong/ST Bk Fac CARE A+ /CARE 4430 Reaffirmed Ltd A1+ Nidhaan Buildcon Pvt Ltd LT Bk Fac - - Withdrawn Piramal Finance Ltd Subordinated Debt CARE AA 10000 Assigned issue Piramal Finance Ltd NCD issue CARE AA 2500 Reaffirmed Prem Industries LT Bk Fac CARE B+ 91.1 Reaffirmed Rewa Leisure Pvt Ltd LT Bk Fac CARE BB 47.2 Reaffirmed (reduced from 8.84crs) Rewa Leisure Pvt Ltd LT/ ST Bk Fac CARE BB /CARE 30 Reaffirmed A4 S. S. Construction LT Bk Fac CARE BB+ 100 Revised from CARE BB Silvershine Corporation LT Bk Fac CARE B+ 44.3 Assigned Starchem Polytrade Pvt Ltd LT/ST Bk Fac CARE B+ /CARE 277.5 Assigned A4 Sumetco Alloys Pvt Ltd LT Bk Fac CARE B+ 100 Assigned Unity Jewels LT Bk Fac CARE A 470 Reaffirmed (reduced from 23.00crs) Utkarsh Tubes And Pipes Ltd LT- Bk Fac CARE BBB 1012.3 Reaffirmed (enhanced from 96.18crs) Utkarsh Tubes And Pipes Ltd Long/Short -term CARE BBB 2500 Reaffirmed Bk Fac /CARE A3 (enhanced from 232.5crs) Vinayak Education Society LT Bk Fac CARE BB 76 Reaffirmed (enhanced from 7.00crs) Western Suitings Pvt Ltd LT Bk Fac - - Withdrawn -------------------------------------------------------------------------------------------- $: 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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