CARE ratings for Indian debt instruments-Jan 13

Last Updated: Fri, Jan 13, 2017 15:03 hrs

Jan 13 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of January 12, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- Aradhan Chemtech ST Bk Fac CARE A4 10 Reaffirmed Chetak Enterprises Ltd ST Bk Fac CARE A1+ 20 Reaffirmed Chetak Enterprises Ltd CP (CP) (carved CARE A1+ 450 Assigned out of fund based working capital limits) Classical Natural Stones ST Bk Fac CARE A4 88.5 Reaffirmed Emami Agrotech Ltd (Formerly Emami ST Bk Fac CARE A3+ 36655 Reaffirmed Biotech Ltd) Feedback Energy Distribution Co. Ltd ST Bk Fac@ CARE A3 (SO) 420 Assigned @ The ratings are based on the credit enhancement in the form of corporate guarantee from Feedback Infra Private Limited (rated 'CARE BBB-; Stable' / 'CARE A3'). Feedback Infra Pvt Ltd ST Bk Fac CARE A3 250 Reaffirmed Greenply Industries Ltd ST Bk Fac CARE A1+ 3050 Reaffirmed Gvk Industries Ltd ST Bk Fac CARE D 196 Reaffirmed Greenply Industries Ltd ST Debt (incl. CP CARE A1+ 250 Reaffirmed )* *carved out of the sanctioned working capital limits Holdwell Components Pvt. Ltd. ST Bk Fac CARE A4+ 45 Reaffirmed Jade Blue Lifestyle India Ltd ST Bk Fac CARE A2 70 Assigned Jai Bharat Gum And Chemicals Ltd ST Bk Fac CARE A2+ 610 Reaffirmed Jms Mining Services Pvt Ltd ST Bk Fac CARE A1+ 150 Reaffirmed Kunstocom India Ltd ST Bk Fac CARE A3 60 Reaffirmed Sarda Energy & Minerals Ltd Proposed CP (CP) CARE A1 500 Assigned issue* Shivangi Metal Industries Pvt Ltd ST Bk Fac CARE A4 215 Reaffirmed Shri Girija Smelters Ltd ST Bk Fac CARE A4 230 Reaffirmed Siepmanns Card Systems Pvt Ltd ST Bk Fac CARE A3 100 Reaffirmed Softel Overseas Pvt Ltd ST Bk Fac CARE A4 100 Reaffirmed Topcem India ST Bk Fac CARE A1 (SO) 159 Reaffirmed Verdant Life Sciences Pvt Ltd LT/ST Bk Fac CARE A4+ 12 Revised from CARE A4 Viraj Profiles Ltd ST Bk Fac CARE A2 37830 Continues to be on Credit Watch with Negative Implications Vishnu Chemicals Ltd ST Bk Fac CARE A3 1143.5 Reaffirmed Vkl Seasoning Pvt Ltd ST Bk Fac CARE A3+ 40 Reaffirmed (enhanced from Rs.3.00 Crore) LONG TERM RATINGS: ------------------- 3F Oil Palm Agrotech Pvt Ltd LT Bk Fac CARE BBB 210.2 Reaffirmed Aradhan Chemtech LT Bk Fac CARE BB- 60 Reaffirmed Bridge Track And Tower Pvt. Ltd LT Bk Facilitie CARE BBB- 249.1 Reaffirmed Bridge Track And Tower Pvt. Ltd Long/ST Bk Fac CARE BBB- 190 Reaffirmed /CARE A3 Chetak Enterprises Ltd Proposed LT NCD CARE A+ 450 Assigned (NCD) Chetak Enterprises Ltd LT/ST Bk Fac CARE A+ /CARE 3000 Reaffirmed A1+ Chetak Enterprises Ltd LT Bk Fac CARE A+; 3516.9 Reaffirmed (enhanced from 305.43crs) Classical Natural Stones LT Bk Fac CARE B+ 32 Reaffirmed Dhanda Breeding Farm Pvt Ltd LT Bk Facilitie CARE B+ 66.4 Assigned Emami Agrotech Ltd (Formerly Emami LT Bk Facilitie CARE BBB+ 5106 Revised from Biotech Ltd) CARE BBB Feedback Brisa Highways Omt Pvt Ltd LT Bk Fac@ CARE BBB-(SO) 110 Assigned @ The ratings are based on the credit enhancement in the form of corporate guarantee from Feedback Infra Private Limited (rated 'CARE BBB-; Stable' / 'CARE A3'). Feedback Brisa Highways Omt Pvt Ltd LT/ ST Bk Fac@ CARE BBB-(SO) 200 Assigned /CARE A3 (SO) Feedback Energy Distribution Co. Ltd LT Bk Fac@ CARE BBB-(SO) 608.1 Assigned @ The ratings are based on the credit enhancement in the form of corporate guarantee from Feedback Infra Private Limited (rated 'CARE BBB-; Stable' / 'CARE A3'). Feedback Energy Distribution Co. Ltd Proposed NCD issue#CARE BBB-(SO) 500 Assigned # The rating is based on the proposed credit enhancement in the form of unconditional and irrevocable corporate guarantee from Feedback Infra Private Limited (rated 'CARE BBB-; Stable' / 'CARE A3'). Feedback Energy Distribution Co. Ltd LT/ ST Bk Fac@ CARE BBB-(SO) 140 Assigned /CARE A3 (SO) Feedback Infra Pvt Ltd LT Bk Fac CARE BBB- 700 Reaffirmed Feedback Infra Pvt Ltd LT/ST Bk Fac CARE BBB- 1300 Reaffirmed /CARE A3 Greenply Industries Ltd LT Bk Fac CARE AA- 4150.5 Reaffirmed Gvk Gautami Power Ltd LT Bk Fac CARE D 10097.5 Reaffirmed Gvk Industries Ltd LT Bk Fac CARE D 5200.7 Reaffirmed Manipal Housing Finance Syndicate Ltd Fixed Deposits CARE BBB+ 120 Reaffirmed Programme Hindustan Gum & Chemicals Ltd Long/ST Bk Fac CARE A+ /CARE 2115 Reaffirmed A1+ Holdwell Components Pvt. Ltd. LT Bk Facilitie CARE BB+ 100 Reaffirmed J. M. Hosiery & Co. Ltd. LT Bk Fac CARE A- 850 Reaffirmed J.K.Sagar Developers LT Bk Facilitie CARE B+ 99 Assigned Jade Blue Lifestyle India Ltd LT Bk Fac CARE A- 774.8 Assigned Jai Bharat Gum And Chemicals Ltd LT Bk Fac CARE BBB+ 10 Reaffirmed Jms Mining Services Pvt Ltd LT Bk Facilitie CARE A+ 2600 Reaffirmed Jms Mining Services Pvt Ltd Long/ST Bk Fac CARE A+/CARE 4850 Reaffirmed A1+ Kaveri Ginning Industries Pvt Ltd LT Bk Facilitie CARE BB- 194.8 Revised from CARE B+ Khedut Cotex Pvt Ltd LT Bk Fac CARE B+ 84 Assigned Kontinental Steel And Power Ltd. LT Bk Facilitie CARE BBB 50 Reaffirmed Kontinental Steel And Power Ltd. Long/ST Bk Fac CARE BBB /CARE 130 Reaffirmed A3+ Kunstocom India Ltd LT Bk Fac CARE BBB- 286.7 Reaffirmed Manipal Housing Finance Syndicate Ltd LT Bk Fac CARE BBB+ 2660.3 Reaffirmed Parmarth Wind Energy Pvt Ltd LT Bk Fac CARE BBB+ 366.3 Reaffirmed Parry Enterprises India Ltd LT Bk Fac CARE A- 816 Reaffirmed Parry Enterprises India Ltd CP Issue Withdrawn Poonia Wines (Rewari) LT Bk Fac CARE BB- 150 Reaffirmed R. K. Marble Pvt Ltd LT Bk Fac CARE A+ 1900 Reaffirmed R. K. Marble Pvt Ltd LT / ST Bk Fac CARE A+ /CARE 1350 Reaffirmed A1+ Rajarambapu Patil Sahakari Sakhar LT Bk Fac CARE BB- 5000 Reaffirmed Karkhana Ltd Rjp Infrastructure Pvt Ltd LT Bk Fac CARE BBB 50 Reaffirmed Rjp Infrastructure Pvt Ltd LT / ST Bk Fac CARE BBB/CARE 550 Reaffirmed A3+ Shivangi Metal Industries Pvt Ltd LT Bk Fac CARE BB- 150 Reaffirmed Shri Girija Smelters Ltd LT Bk Fac CARE B+ 40 Reaffirmed Siepmanns Card Systems Pvt Ltd LT Bk Fac CARE BBB- 43.6 Reaffirmed (Enhanced from 1.91crs) Siepmanns Card Systems Pvt Ltd Long/Shortterm Bk CARE BBB- 189.8 Reaffirmed Fac /CARE A3 (Enhanced from 17.00crs) Sms-Aabs India Tollways Pvt Ltd LT Bk Facilitie CARE A- 500 Revised from CARE BBB+ Sms-Aabs India Tollways Pvt Ltd Long/ST Bk Fac CARE A- /CARE 432 Revised from A2+ CARE BBB+ / CARE A2 Topcem India LT Bk Fac CARE A (SO) 340 Reaffirmed Verdant Life Sciences Pvt Ltd LT Bk Fac CARE BB+ 268.7 Revised from CARE BB- Viraj Profiles Ltd LT Bk Facilitie CARE BBB+ 7876.3 Continues to be on Credit Watch with Negative Implications Vishnu Chemicals Ltd LT Bk Fac CARE BBB- 2271.2 Reaffirmed (enhanced from 156.82 crs) Vkl Seasoning Pvt Ltd LT Bk Fac CARE BBB 340 Reaffirmed (enhanced from Rs.15.00 Crore) Vkl Seasoning Pvt Ltd LT Bk Fac CARE BBB 467.4 Reaffirmed (enhanced from Rs.32.57 Crore) Zaveri And Company Pvt Ltd LT / ST Bk Fac CARE A- 300 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 7222/3317 7222, E-mail at rru.data@thomsonreuters.com)



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