CARE ratings for Indian debt instruments-Oct 13

Last Updated: Thu, Oct 13, 2016 11:00 hrs

Oct 13 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of October 12, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- AHW Steels Pvt Ltd ST Bk Fac CARE A3 50 Reaffirmed Automobile Corporation Of Goa Ltd ST Bk Fac CARE A1+ 52.5 Reaffirmed Bmm Cements Ltd ST Bk FacBG/LC^ ProvCARE A3+ 100 Assigned ^ Proposed to be backed by unconditional and irrecoverable corporate guarantee to be provided by Sagar Cements Limited (rated CARE BBB/CARE A3+ ). Buddha Global Pvt Ltd ST Bk Fac CARE A4+ 300 Revised from CARE A4 Genus Paper & Boards Ltd ST Bk Fac CARE A1 250 Revised from CARE A3 HEC Infra Projects Ltd ST Bk Fac CARE A3 180 Reaffirmed Honest Enterprise Pvt Ltd ST Bk Fac CARE A4 200 Reaffirmed Jindal Itf Ltd ST Bk Fac CARE A1 250 Revised from CARE A3 JSW Infrastructure ST Bk Fac (NFB- CARE A1 600 Reaffirmed LC/BG) JSW Jaigarh Port Ltd. ST Bk Fac - NFB CARE A1 650 Reaffirmed (LC/BG) Kashi Vishwanath Textile Mill Pvt Ltd ST Bk Fac CARE A3 2.5 Reaffirmed Kothari Products Ltd ST Bk Fac CARE A2+ 14955 Reaffirmed KPL Exports Pvt Ltd ST Bk Fac @ CARE A2+ 3150 Reaffirmed @ backed by unconditional & irrevocable corporate guarantee provided / proposed to be provided by Kothari Products Limited (KPL; rated 'CARE A-' and 'CARE A Kpl Exports Pvt Ltd ST Bk Fac ProvCARE A2+ 1850 Reaffirmed (Proposed) * *rating for the proposed facilities is "Provisional" and will be confirmed upon the execution of the corporate guarantee and submission of requisite document to the satisfaction of CARE. Lotus Texpark Ltd ST Bk Fac CARE A1 (SO)^ 90 Revised from CARE A2+ ^ The ratings are based on credit enhancement in the form of unconditional and irrevocable corporate guarantee from Trident Limited Mohan Spintex India Ltd. ST Bk Fac CARE A3+ 117.4 Reaffirmed Nava Bharat Energy India Ltd ST Bk Fac CARE A3+ 625 Reaffirmed Niros Ispat Pvt Ltd ST Bk Fac CARE A4 110 REAffirmed Patidar Cotspin Pvt Ltd ST Bk Fac CARE A4 25 Reaffirmed Ponni Sugars (Erode) Ltd ST non-fund based CARE A3 100 Reaffirmed Bk limits Prathishta Weaving And Knitting Co. LtST Bk Fac CARE A2 47 Revised from CARE A3+ Reliance Communication Infrastructure ST Bk Fac CARE A2+ 11800 Placed on Ltd Credit Watch Sagar Cements Ltd. ST Bk Fac CARE A3+ 250 Revised from CARE A3 Seaward Exports Pvt Ltd Short- term Bk Fac CARE A4 100 Assigned SMS Pharmaceuticals Ltd ST Bk Fac CARE A2 648.3 Rating placed on Credit Watch Stone India Ltd ST Bk Fac CARE A4 193 Reaffirmed SW Dharamtar Port Ltd ST Bk Fac (NFB - CARE A1 50 Reaffirmed LC/BG) Timarpur Okhla Waste Management CompanST Bk Fac CARE A3 50 Reaffirmed Pvt Ltd Trident Ltd ST Bk Fac CARE A1 3500 Revised from CARE A2+ Wellknown Polyesters Ltd ST Bk Fac CARE A1 9470 Reaffirmed Wellknown Polyesters Ltd CP CARE A1 2000 Assigned LONG TERM RATINGS: ------------------- Ahw Steels Pvt Ltd LT Bk Fac CARE BB- 750 Reaffirmed Akash Pet Containers Pvt Ltd LT Bk Fac CARE B+ 101.1 Reaffirmed Automobile Corporation Of Goa Ltd LT Bk Fac CARE AA 80 Reaffirmed BMM Cements Ltd LT InstrumentsNCD@ CARE BBB 1500 Revised from CARE BBB- @ Backed by unconditional and irrecoverable corporate guarantee provided by Sagar Cements Limited (rated 'CARE BBB/CARE A3+'). BMM Cements Ltd LT Bk FacTL@ CARE BBB 867 Revised from CARE BBB- @ Backed by unconditional and irrecoverable corporate guarantee provided by Sagar Cements Limited (rated 'CARE BBB/CARE A3+'). BMM Cements Ltd LT Bk FacCC^ ProvCARE BBB 260 Revised from Provisional CARE BBB- ^ Proposed to be backed by unconditional and irrecoverable corporate guarantee to be provided by Sagar Cements Limited (rated 'CARE BBB/CARE A3+'). Buddha Global Pvt Ltd LT Bk Fac CARE BB+ 80 Revised from CARE BB Business Broadcast News Pvt Ltd LT Bk Fac - 1000 Withdrawn Canpac Multi-Ply Pvt Ltd LT Bk Fac @ ProvCARE BBB- 236.7 Assigned @ The above rating is based on the credit enhancement in the form of proposed unconditional and irrevocable corporate guarantee of Canpac Trends Private Limited (CTPL; rated: CARE BBB- / CARE A3) Canpac Trends Pvt Ltd LT Bk Fac CARE BBB- 104.7 Assigned Canpac Trends Pvt Ltd Long/ST Bk Fac CARE BBB-/A3 222.8 Assigned Creativeline Cotspin Pvt Ltd LT Bk Fac CARE A^ 6.6 Revised from CARE A- ^ The ratings are based on credit enhancement in the form of unconditional and irrevocable corporate guarantee from Trident Limited Dalmia Cement Bharat Ltd LT Instruments - CARE AA 2000 Revised from NCDs CARE AA- Genus Paper & Boards Ltd LT Bk FacTL CARE A+ 3000 Assigned Genus Paper & Boards Ltd LT Bk FacCC CARE A+ 420 Revised from CARE BBB- Genus Paper & Boards Ltd NCD CARE A+ 166.7 Revised from CARE AA- Genus Paper & Boards Ltd NCD CARE A+ 306.5 Revised from CARE AA- Genus Paper & Boards Ltd PTC (PTCs)* CARE A+/A1+ 222 Revised from CARE AA-/Reaffirmed *PTCs issued by Jindal ITF Limited CCD PTC Trust, backed CCDs issued by Jindal ITF Limited Genus Paper & Boards Ltd LT Bk FacTL CARE BBB- 2030.9 Reaffirmed Gmr Hyderabad Vijaywada Expressway PvtLT Bk Fac CARE D 16555 Reaffirmed Ltd Gmr Hyderabad Vijaywada Expressway PvtST Bk Fac CARE D 870 Reaffirmed Ltd Goyal Cotton Fiber LT Bk Fac CARE BB- 83.7 Assigned Hec Infra Projects Ltd LT Bk Fac CARE BBB 164.6 Revised from CARE BBB- Honest Enterprise Pvt Ltd LT Bk Fac CARE BB- 164 Reaffirmed Il&Fs Tamilnadu Power Co. Ltd LT Bk Fac CARE BBB+ 60800 Reaffirmed Jindal Itf Ltd LT Bk Fac-TL CARE A+ 3000 Assigned Jindal Itf Ltd LT Bk Fac-CC CARE A+ 420 Revised from CARE BBB- Jindal Itf Ltd NCD CARE A+ 166.7 Revised from CARE AA- Jindal Itf Ltd NCD CARE A+ 306.5 Revised from CARE AA- Jindal Itf Ltd PTC (PTCs)* CARE A+/A1+ 222 Revised from CARE AA-/Reaffirmed *PTCs issued by Jindal ITF Limited CCD PTC Trust, backed CCDs issued by Jindal ITF Limited Jindal Itf Ltd LT Bk Fac-TL CARE BBB- 2030.9 Reaffirmed Jindal Rail Infrastructure Ltd LT Bk Fac* CARE BBB- 1867.5 Reaffirmed * backed by unconditional and irrevocable corporate guarantee provided by JITF Urban Infrastructure Services Ltd (JUISL). Jindal Rail Infrastructure Ltd LT/ST Fac* CARE BBB- 1070 Reaffirmed * backed by unconditional and irrevocable corporate guarantee provided by JITF Urban Infrastructure Services Ltd (JUISL). Jitf Urban Infrastructure Ltd LT /ST Bk Fac* ProvCARE BBB- 210 Reaffirmed /CARE A3 * proposed to be backed by unconditional and irrevocable corporate guarantee to be provided by JITF Urban Infrastructure Services Ltd (JUISL). Jitf Urban Infrastructure Services LtdNCDs* CARE A+ 366.7 Assigned *backed by Put Right provided by Jindal Saw Limited (J Saw: rated CARE A+ and CAREA1+) for timely repayment of principal, redemption premium and interest obligatins. Jitf Water Infrastructure Ltd LT Bk Fac CARE BBB- 260 Reaffirmed Jitf Water Infrastructure Ltd LT/ ST Bk Fac CARE BBB-/A3 300 Reaffirmed JSW Infrastructure LT NCD CARE A+ 2620 Reaffirmed JSW Infrastructure LT Bk Fac CARE A+ 1270 Reaffirmed JSW Jaigarh Port Ltd. LT Bk Fac - TL CARE A+ 18100 Reaffirmed Kalanikethan Silks Pvt Ltd LT Bk Fac CARE BBB+ 724.3 Reaffirmed Kashi Vishwanath Textile Mill Pvt Ltd LT Bk Fac CARE BBB- 233.6 Reaffirmed Kerala Communicators Cable Ltd LT Bk Fac CARE BBB- 55 Reaffirmed Kitty Industries Pvt Ltd LT Bk Fac CARE BBB+ 112.3 Reaffirmed Kothari Products Ltd LT Bk Fac CARE A- 45 Reaffirmed Lotus Texpark Ltd LT Bk Fac CARE A (SO)^ 1032.8 Revised from CARE A- ^ The ratings are based on credit enhancement in the form of unconditional and irrevocable corporate guarantee from Trident Limited Madhav (Phoolsagar Niwas Shahpura LT Bk Fac CARE A- 1052.8 Reaffirmed Corridor) Highways Pvt Ltd Madhav (Phoolsagar Niwas Shahpura LT / ST Bk Fac CARE A-/A2+ 77.5 Reaffirmed Corridor) Highways Pvt Ltd Madhav (Sehora Silodi Corridor) LT Bk Fac CARE A- 549.3 Reaffirmed Highways Pvt Ltd Medplus Health Services Pvt Ltd NCD CARE BBB- 430 Reaffirmed Metro Agro Mills LT Bk Fac CARE B+ 60 Reaffirmed Mohan Spintex India Ltd. LT Bk Fac CARE BBB 3481.8 Reaffirmed Mohan Spintex India Ltd. LT/ST Bk Fac CARE BBB/A3+ 60 Assigned Nava Bharat Energy India Ltd LT Bk Fac CARE BBB+ 3160.2 Reaffirmed Navayuga Infotech Pvt Ltd LT Bk Fac CARE BBB+ 650 Revised from CARE BBB Navayuga Infotech Pvt Ltd LT/ST Bk Fac CARE BBB+/A2 868.4 Revised from CARE BBB/A3+ Navayuga Quazigund Expressway Pvt Ltd LT Bk Fac CARE BB+ 22094.1 Reaffirmed Niros Ispat Pvt Ltd LT Bk Fac CARE BB- 585.5 Revised from CARE B+ Palimarwar Solar Project Pvt Ltd LT Bk Fac CARE BBB+ 405.2 Reaffirmed Parnika Commercial And Estates Pvt LtdLT Bk Fac CARE BBB- 100 Reaffirmed Parnika Commercial And Estates Pvt LtdLT /ST Bk Fac CARE BBB-/A3 600 Reaffirmed Parvati Sweetners And Power Ltd LT Bk Fac CARE BB 150 Assigned Patidar Cotspin Pvt Ltd LT Bk Fac CARE B 7.5 Reaffirmed Patidar Cotspin Pvt Ltd LT/ST Bk Fac CARE B/A4 50 Reaffirmed Pinnacle Hospitals India Pvt Ltd LT Bk Fac CARE BB 334.5 Assigned Ponni Sugars (Erode) Ltd LT fund based Bk CARE BBB- 810.6 Reaffirmed limits Ponni Sugars (Erode) Ltd Long/ST Bk limits CARE BBB-/A3 215 Reaffirmed Prathishta Weaving And Knitting Co. LtLT Bk Fac CARE BBB+ 5 Reaffirmed Priti Gems Exports Pvt. Ltd LT Bk Fac CARE BB+ 450 Assigned Priti Gems Exports Pvt. Ltd Proposed LT Bk Fac CARE BB+ 100 Assigned Punjab And Sind Bank Lower Tier II BondsCARE AA 8750 Reaffirmed Punjab And Sind Bank Tier II Bonds CARE AA 5000 Reaffirmed (Basel-III) Ram India Mittal Township Ltd LT Bk Fac CARE B+ 150 Assigned Reliance Big Tv Ltd Long/ST Bk Fac CARE A- 900 Placed on Credit Watch Renew Solar Energy (Karnataka) Pvt LtdLT Bk Fac CARE BBB 3302.2 Assigned Rice Tech Agro Mills LT Bk Fac CARE B+ 60 Reaffirmed Ritemed Pharma Retail Pvt Ltd LT Bk Fac CARE BBB- 180 Reaffirmed Sagar Cements Ltd. LT Bk Fac CARE BBB 2275.5 Revised from CARE BBB- Seaward Exports Pvt Ltd LT Bk Fac CARE BB- 3.1 Assigned Shanti Spintex Pvt Ltd LT Bk Fac CARE BB+ 239.5 Assigned Sharad Cotton Pvt Ltd LT Bk Fac CARE B+ 75.4 Reaffirmed Sms Pharmaceuticals Ltd LT Bk Fac CARE A- 2332.5 Rating placed on Credit Watch Sri Ganeshwara Rice Tech LT Bk Fac CARE BB- 193.8 Reaffirmed Stone India Ltd LT Bk Fac CARE BB 344.8 Reaffirmed SW Dharamtar Port Ltd LT Bk Fac - CARE A 750 Revised from Subordinated debt CARE A+ SW Dharamtar Port Ltd LT Bk Fac CARE A+ 2050 Reaffirmed Tamil Nadu Transmission Corporation LtBond Issues - - Withdrawn Tamil Nadu Transmission Corporation LtBond Issues* CARE A- 10000 Reaffirmed *The bonds carry an unconditional and irrevocable guarantee for the repayment of principal and payment of interest from the Government of Tamil Nadu (GoTN) Tamil Nadu Transmission Corporation LtBond Issues^ CARE A- 691 Reaffirmed ^The bonds carry an unconditional and irrevocable guarantee for the repayment of principal and payment of interest from the Government of Tamil Nadu (GoTN) Tamil Nadu Transmission Corporation LtBond Issues^ CARE A- 5309 Assigned ^The bonds carry an unconditional and irrevocable guarantee for the repayment of principal and payment of interest from the Government of Tamil Nadu (GoTN) Tejas Agro Irrigation Systems Pvt Ltd LT Bk Fac CARE B+ 128.7 Assigned The Gvmc Public Health Employees LT Bk Fac CARE BB 100 Assigned Mutually Aided Thrift And Credit Co-Operative Society Ltd Timarpur Okhla Waste Management CompanLT Bk FacTL CARE A+ 490 Revised from Pvt Ltd CARE AA- Timarpur Okhla Waste Management CompanLT Bk FacECB CARE BBB- 954.3 Reaffirmed Pvt Ltd Timarpur Okhla Waste Management CompanLT Bk FacCC CARE BBB- 30 Reaffirmed Pvt Ltd Trident Ltd LT Bk Fac CARE A 23348.5 Revised from CARE A- Trident Ltd LT/ ST Bk Fac CARE A/A1 12000 Revised from CARE A-/A2+ Vascular Therapeutics (India) Pvt Ltd Bk Fac - - Withdrawn Vijay Steel Industries LT Bk Fac CARE B+ 10 Revised from CARE BB- Vijay Steel Industries LT/ST Bk Fac CARE B+/A4 80 Revised from CARE BB-/A4 Wellknown Polyesters Ltd LT Bk Fac CARE A+ 16817.5 Reaffirmed Yogiraj Export Pvt Ltd LT Bk Fac CARE BB 150 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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