CARE ratings for Indian debt instruments-Jun 19

Last Updated: Mon, Jun 19, 2017 09:40 hrs

Jun 19 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of June 16, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- Aptus Value Housing Finance India Ltd ST Bk Fac CARE A1 30 Revised from CARE A2+ Celite Tyre Pvt Ltd ST Bk Fac CARE A4+ 150 Assigned G.R.K. Theatres Pvt Ltd ST Bk Fac CARE A4 62.3 Assigned Jain Irrigation Systems Ltd ST Bk Fac (Non-FB) CARE A2 17350 Revised from CARE A3+ R.R. Energy Ltd ST Bk Fac CARE A4 181 Assigned Rushil Décor Ltd ST Bk Fac CARE A2 330 Revised from CARE A3+ Sadbhav Engineering Ltd ST Bk Fac CARE A1+ 200 Assigned Thriveni Earthmovers Pvt Ltd ST Bk Fac CARE A2+ 6039.6 Reaffirmed Yuvraj Enterprise ST Bk Fac CARE A4 250 Assigned LONG TERM RATINGS: ------------------- Adani Power Ltd LT Bk Fac CARE BB- 74317.1 Revised from CARE BBB- Adani Power Ltd LT Bk Fac (Rupee CARE BB- 64175.9 Revised from TL – Phase IV)* CARE BBB+ (SO) *earlier rating was based on the Credit Enhancement in the form of a ring-fenced cash flow structure as per Trust and Retention Account (TRA) agreement for priority in debt servicing of rupee term loans availed for funding the Phase-IV power generation project assets of 1980 MW of Adani Power Ltd. (APL) at Mundra in Gujarat. Adani Power Ltd LT / ST Bk Fac CARE BB- /CARE 50626.8 Revised from A4 CARE BBB- / CARE A3 Aptus Value Housing Finance India Ltd LT Bk Fac CARE A 4970 Revised from CARE A- Aptus Value Housing Finance India Ltd NCD Issue CARE A 1000 Revised from CARE A- Bansal Pathways (Guna-Sironj) Pvt Ltd LT Bk Fac CARE BBB- 1580 Reaffirmed Bansal Pathways (Guna-Sironj) Pvt Ltd Subordinated TL CARE BBB- 20 Assigned Celite Tyre Pvt Ltd LT Bk Fac CARE BB+ 50 Assigned G.R.K. Theatres Pvt Ltd LT Bk Fac CARE B+ 37.7 Assigned G.R.K. Theatres Pvt Ltd LT Bk Fac CARE B+ 100 Assigned Gayatri Vidya Parishad LT Bk Fac CARE BB+ 887.2 Assigned Jain Irrigation Systems Ltd LT Bk Fac (TL) CARE A- 5376.7 Revised from CARE BBB+ Jain Irrigation Systems Ltd LT Bk Fac (FB) CARE A- 15500 Revised from CARE BBB+ N.A.M. Expressway Ltd LT Bk Fac (Senior CARE BBB- 9138.1 Assigned Debt) N.A.M. Expressway Ltd LT Bk Fac Provisional 721.2 Assigned (Additional Senior CARE BBB- Debt) N.A.M. Expressway Ltd LT Bk Fac Provisional 3640 Assigned (Subordinate Debt)@CARE BBB- (SO) @proposed to be backed by sponsor/promoter bank guarantee to provide DSCR support as envisaged as per the Common Loan Agreement Omkamal Steel Pvt Ltd LT Bk Fac CARE B+ 46.5 Assigned Options Lawns Pvt Ltd LT Bk Fac CARE B+ 78.5 Assigned Patel Cotton Industries LT Bk Fac CARE B 141.3 Assigned R.R. Energy Ltd LT Bk Fac CARE B 660 Assigned Raj Electricals LT Bk Fac CARE BB- 65 Assigned Raj Electricals LT/ST Bk Fac CARE BB- /CARE 22.5 Assigned A4 Rushil Décor Ltd LT Bk Fac CARE BBB+ 1123.7 Reaffirmed Sadbhav Engineering Ltd LT Bk Fac CARE A+ 6366.8 Reaffirmed Sadbhav Engineering Ltd LT NCD CARE A+ 2700 Reaffirmed Sadbhav Engineering Ltd LT/ST Bk Fac CARE A+ /CARE 18000 Reaffirmed A1+ Thriveni Earthmovers Pvt Ltd LT Bk Fac CARE A- 2529.8 Reaffirmed -------------------------------------------------------------------------------------------- $: 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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