CARE ratings for Indian debt instruments-Oct 18

Last Updated: Tue, Oct 18, 2016 13:00 hrs

Oct 18 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of October 17, 2016. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- Ajanta Footcare (India) Pvt Ltd ST Bk Fac CARE A1 (SO)@ 40 Revised from CARE A2+(SO) @Ajanta Footcare (India) Private Ltd can avail bank facilities of Rs.4 crore by earmarking non-fund limit of BRIPL Ajanta Footcare (India) Pvt Ltd ST Bk Fac CARE A2+(SO)* 5 Assigned *The ratings are based on the credit enhancement in the form of letter of comfort from Banik Rubber Industries (India) Private Ltd (BRIPL; rated 'CARE A/CARE A1') Anuspaa Heritage Products Pvt Ltd ST Bk Fac CARE A4 15 Assigned Cri Ltd ST Bk Fac CARE A3 50 Reaffirmed Divine Board Pvt Ltd ST Bk Fac CARE A4 6.5 Assigned Genuine Promoters ST Bk Fac CARE A3 100 Revised from CARE A3+(SO)* *The ratings were earlier backed by a corporate guarantee from G.D. Goenka Private Limited (rated CARE BBB+/A3+). Subsequent to the withdrawal of the corporate guarantee, the ratings have been assigned on standalone basis Gspc Lng Ltd ST Bk Fac CARE A1 11371.3 Reaffirmed Indo Count Industries Ltd ST Bk Fac CARE A1+ 6150 Revised from CARE A1 Etco Industries Ltd ST Bk Fac CARE D 120 Revised from CARE A4 Investment & Precision Castings Ltd ST Bk Fac CARE A3 40 Reaffirmed Jagdish Agro Foods ST Bk Fac CARE A4 3.7 Assigned Gpt Healthcare Pvt Ltd ST Bk Fac Withdrawn Jalpa Diamond ST Bk Fac CARE A4+ 190 Reaffirmed Jsw Cement Ltd ST Bk Fac CARE A3+ 3950 Reaffirmed Oil India Ltd ST Bk Fac CARE A1+ 24020.3 Reaffirmed Reliance Jio Infocomm Ltd CP CARE A1+ 60000 Reaffirmed Renew Power Ventures Pvt Ltd ST Bk Fac CARE A1+ 1500 Reaffirmed Shreyans Industries Ltd ST Bk Fac CARE A3+ 400 Assigned Shyam Century Ferrous Ltd ST Bk Fac CARE A2+ 220 Reaffirmed Siddhartha Engineering Ltd ST Bk Fac CARE A3 150 Reaffirmed LONG TERM RATINGS: ------------------- Ajanta Footcare (India) Pvt Ltd LT/ST Bk Fac CARE A-(SO) 5 Reaffirmed /CARE A2+(SO)* *The ratings are based on the credit enhancement in the form of letter of comfort from Banik Rubber Industries (India) Private Ltd (BRIPL; rated 'CARE A/CARE A1') Ajanta Footcare (India) Pvt Ltd LT Bk Fac CARE A-(SO)# 10 Assigned #The rating is based on the proposed credit enhancement in the form of letter of comfort from BRIPL Ajanta Footcare (India) Pvt Ltd LT Bk Fac CARE A-(SO)* 40 Reaffirmed *The ratings are based on the credit enhancement in the form of letter of comfort from Banik Rubber Industries (India) Private Ltd (BRIPL; rated 'CARE A/CARE A1') Ajmer Vidyut Vitran Nigam Ltd LT Bk Fac# CARE A-(SO) 3441.8 Reaffirmed (reduced from 4776.32 CR) # backed by unconditional & irrevocable guarantee of Govt. of Rajasthan Annapurna Microfinance Pvt Ltd Series A1 PTCs# CARE A-(SO) 257.5 Assigned # Series A PTC is rated on ultimate payment basis Annapurna Microfinance Pvt Ltd Series A1 PTCs# CARE A-(SO) 265.8 Assigned # Series A PTC is rated on ultimate payment basis Annapurna Microfinance Pvt Ltd Series A2 PTCs# CARE BB(SO) 29.3 Assigned # Series A PTC is rated on ultimate payment basis Annapurna Microfinance Pvt Ltd Series A2 PTCs# CARE BB+(SO) 26.9 Assigned # Series A PTC is rated on ultimate payment basis Anuspaa Heritage Products Pvt Ltd LT Bk Fac CARE BB 77.7 Assigned Bansal Seeds Pvt Ltd LT Bk Fac CARE BB 230 Reaffirmed Camden Industries Ltd NCD CARE AAA(SO)* 4300 Reaffirmed *backed by proposed underwriting commitment from Axis Capital Limited (ACL) to cover all obligations that may arise on the rated NCDs Chintpurni Steel Pvt Ltd LT Bk Fac CARE BB+ 335 Reaffirmed Chintpurni Steel Pvt Ltd Long/ST Bk Fac CARE BB+/CARE 15 Reaffirmed A4+ Cri Ltd LT Bk Fac CARE BBB 167 Reaffirmed (enhanced from 15.3 CR) Cri Ltd LT/ST Bk Fac CARE BBB /CARE 460 Reaffirmed A3 Dhunseri Tea & Industries Ltd LT Bk Fac - CC CARE A+ 670 Reaffirmed (enhanced from 65.00 CR) Dhunseri Tea & Industries Ltd LT Bk Fac - CARE A+ 581.1 Reaffirmed Standby LOC (enhanced from 66.38 CR) Divine Board Pvt Ltd LT Bk Fac CARE B 30 Assigned Divine Board Pvt Ltd LT/ST Bk Fac CARE B /CARE A473.5 Assigned Etco Industries Ltd LT Bk Fac CARE D 1405.6 Revised from CARE C Fabrico India Pvt Ltd LT Bk Fac CARE BB 395 Revised from CARE BBB- (enhanced from 38.50 CR) Genuine Promoters LT Bk Fac CARE BBB 1250 Revised from CARE BBB+(SO)* [Enhanced from 84.44 CR] *The ratings were earlier backed by a corporate guarantee from G.D. Goenka Private Limited (rated CARE BBB+/A3+). Subsequent to the withdrawal of the corporate guarantee, the ratings have been assigned on standalone basis Gpt Healthcare Pvt Ltd LT Bk Fac CARE BBB- 64 Revised from CARE BB+ Gpt Healthcare Pvt Ltd NCD CARE BBB- 100 Revised from CARE BB+ Gspc Lng Ltd LT Bk Fac CARE A 3258.7 Reaffirmed Gspc Lng Ltd LT/ST Bk Fac CARE A /CARE A11100 Reaffirmed Indo Count Industries Ltd LT Bk Fac CARE AA- 3110.4 Revised from CARE A Investment & Precision Castings Ltd LT Bk Fac CARE BBB- 555.2 Reaffirmed Jagdish Agro Foods LT Bk Fac CARE BB- 23.5 Assigned Jagdish Agro Foods LT/ST Bk Fac CARE BB- /CARE 85 Assigned A4 Jaipur Vidyut Vitran Nigam Ltd LT Bonds Issue # CARE A- (SO) 3700 Reaffirmed Jodhpur Vidyut Vitran Nigam Ltd LT Bonds Issue # CARE A-(SO) 2784.9 Reaffirmed (reduced from 3978.48) # backed by unconditional & irrevocable guarantee of Govt. of Rajasthan Jsw Cement Ltd LT Bk Fac CARE BBB+ 23605.8 Reaffirmed (enhanced from Rs.1655.58 crore) Konkan Railway Corporation Ltd Redeemable Bonds* CARE AA+ 2500 Reaffirmed *Backed by Letter of Comfort from Ministry of Railways (MoR), Government of India (GoI) Konkan Railway Corporation Ltd Redeemable Bonds* CARE AAA(SO) 17 Reaffirmed *Backed by Letter of Comfort from Ministry of Railways (MoR), Government of India (GoI) Konkan Railway Corporation Ltd Redeemable Bonds* CARE AAA(SO) 1700 Reaffirmed *Backed by Letter of Comfort from Ministry of Railways (MoR), Government of India (GoI) Konkan Railway Corporation Ltd Redeemable Bonds* CARE AAA(SO) 1200 Reaffirmed *Backed by Letter of Comfort from Ministry of Railways (MoR), Government of India (GoI) Konkan Railway Corporation Ltd Redeemable Bonds* CARE AAA(SO) 1100 Reaffirmed *Backed by Letter of Comfort from Ministry of Railways (MoR), Government of India (GoI) Konkan Railway Corporation Ltd Redeemable Bonds* CARE AAA(SO) 5000 Reaffirmed *Backed by Letter of Comfort from Ministry of Railways (MoR), Government of India (GoI) Konkan Railway Corporation Ltd Redeemable Bonds* CARE AAA(SO) 2500 Reaffirmed *Backed by Letter of Comfort from Ministry of Railways (MoR), Government of India (GoI) Konkan Railway Corporation Ltd Redeemable Bonds* CARE AAA(SO) 500 Reaffirmed *Backed by Letter of Comfort from Ministry of Railways (MoR), Government of India (GoI) Ktc Threads Llp LT Bk Fac CARE B+ 28.7 Assigned Ktc Threads Llp LT/ST Bk Fac CARE B+ /CARE 110 Assigned A4 North Eastern Electric Power NCD CARE AA 40000 Reaffirmed Corporation Ltd Oil India Ltd LT Bk Fac CARE AAA 2000 Reaffirmed Parthas LT Bk Fac CARE B+ 124.5 Reaffirmed [reduced from Rs.14.16 crore] Quest Properties India Ltd (Formerly LT Bk Fac CARE A- 2025 Reaffirmed Cesc Properties Ltd) (enhanced from 201.0 CR) Reliance Jio Infocomm Ltd LT Bk Fac CARE AAA 450000 Reaffirmed Reliance Jio Infocomm Ltd NCD* CARE AAA(SO) 60000 Reaffirmed * backed by unconditional and irremovable corporate guarantee from its parent Reliance Industries Limited (RIL, rated CARE AAA/CARE A1+) Renew Power Ventures Pvt Ltd LT Bk Fac CARE A+ 2835 Withdrawn* *CARE has withdrawn the rating assigned to the long-term loan facility of Renew Power Ventures Pvt with immediate effect, as the company has fully repaid the amounts under the said facility and there is no amount outstanding under the facility as on date Renew Power Ventures Pvt Ltd NCD-I CARE A+ 4000 Reaffirmed Renew Power Ventures Pvt Ltd NCD-II CARE A+ 5000 Reaffirmed Renew Power Ventures Pvt Ltd NCD-III CARE A+ 2000 Assigned Renew Power Ventures Pvt Ltd Issuer Rating CARE A+(Is) - Reaffirmed Renew Power Ventures Pvt Ltd LT/ST Bk Fac CARE A1+ /CARE 11400 Reaffirmed A1+ Renew Solar Power Pvt Ltd LT Instruments- CARE A+(SO) 2000 Assigned NCD@ @ backed by unconditional and irrevocable corporate guarantee proposed to be provided by Renew Power Ventures Private Limited (rated CARE A+/CARE A1+) and a structured payment mechanism Shradha Agencies Pvt Ltd LT Bk Fac CARE BB+ 400 Reaffirmed Shreyans Industries Ltd LT Bk Fac CARE BBB 563.7 Assigned Shyam Century Ferrous Ltd LT Bk Fac CARE A- 300 Reaffirmed Shyam Century Ferrous Ltd Long/ST Bk Fac CARE A-/CARE 10 Reaffirmed A2+ Siddhartha Engineering Ltd LT Bk Fac CARE BBB- 370 Reaffirmed Siddhartha Engineering Ltd LT/ST Bk Fac CARE BBB- 1180 Reaffirmed /CARE A3 (increased from 78 CR) Ssa International Ltd Bk Fac Suspended Stallion Enterprise Bk Fac Withdrawn Takshila Educational Society LT Bk Fac CARE BBB+ 500 Assigned The Catholic Syrian Bank Ltd Lower Tier II BondsCARE BBB- 418 Reaffirmed Trichy Tollway Pvt Ltd LT Bk Fac CARE AA- 2807.9 Assigned Trichy Tollway Pvt Ltd LT Instruments - CARE AA- 1750 Assigned NCD Ut Worldwide (India) Pvt Ltd Bk Fac Withdrawn Yogi Developers Bk Fac Withdrawn Yogiraj Ginning And Oil Industries PvtLT Bk Fac CARE BB 155 Reaffirmed Ltd [Enhanced from Rs.15 crore] -------------------------------------------------------------------------------------------- $: 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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