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CARE ratings for Indian debt instruments-Apr 27 – Times of India

CARE ratings for Indian debt instruments-Apr 27 – Times of India


CARE-RATINGS/(DAILY):CARE ratings for Indian debt instruments-Apr 27

| Apr 27, 2017, 11.35 AM IST

Apr 27 (Reuters) – Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of April 26, 2017. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ——- ———- —— ——- ——— SHORT TERM RATINGS: ——————- Abhinav Overseas (A Unit Of Marino ST Bk Fac CARE A4 230 issuer not Cables India Pvt Ltd) cooperating Agarwal Coal Corporation Pvt Ltd ST Bk Fac CARE A1 8900 Reaffirmed Agarwal Fuel Corporation Pvt Ltd ST Bk Fac CARE A1 1400 Reaffirmed Agarwal Transport Corporation Pvt Ltd ST Bk Fac CARE A1 5 Reaffirmed Aishwarya Plast Exports Pvt Ltd ST – Non- CARE A4 194 Reaffirmed fundbased – LC/BG Amar Polyfils Pvt Ltd ST Bk Fac CARE A4 13.8 Reaffirmed Ambey Laboratories Pvt Ltd ST Bk Fac CARE A4+ 87.5 Issuer not cooperating B.M.Gupta Estates Pvt Ltd ST Bk Fac CARE A4 150 issuer not cooperating Best Corporation Pvt Ltd ST Bk Fac CARE A1 220 Reaffirmed (reduced from 22.21) Deepak Novochem Technologies Ltd ST Bk Fac CARE A3 70 Reaffirmed Devu Tools Pvt Ltd ST Bk Fac CARE A4 161.1 Reaffirmed (Enhanced from Rs.13 crore) G.C. Spintex Ltd ST Bk Fac CARE A3 3.5 Assigned Galaxy Construction And Contractors PvST Bk Fac CARE A4 20 Reaffirmed Ltd Galaxy Offset India Pvt Ltd ST Bk Fac CARE A4 15 Assigned Galaxy Offset India Pvt Ltd LOC CARE A4 15 Assigned Ghai Construction Ltd ST Bk Fac CARE A4 200 Revised from A4+ Heritage Hospital Ltd ST Bk Fac CARE A3 158.7 Reaffirmed (enhanced from 9.90) Jaiprakash Associates Ltd ST Bk Fac CARE D 25130 Reaffirmed Jagdamba Timbers Pvt Ltd ST Bk Fac CARE A4 110 issuer not cooperating Kaizen Switchgear Products ST Bk Fac CARE A3+ 162.8 Reaffirmed Kotak Mahindra Mutual Fund ST Bk Fac* CARE A1+ 15000 Reaffirmed *Facility is extended to 4 debt schemes of Kotak Mahindra Mutual Fund Kpc Medical College And Hospital ST Bk Fac CARE A4 100 Reaffirmed (reduced from 15.00) Logan Ceramic ST Bk Fac CARE A4 17 issuer not cooperating L&T Finance Ltd ST Bk Fac – – withdrawn Mstc Ltd ST Bk Fac CARE A3+ 53300.5 Reaffirmed (reduced from 5480) Nangalwala Industries Pvt Ltd ST Bk Fac CARE A4 100 Assigned Netafim Agricultural Financing Agency ST Bk Fac CARE A2+ 1000 Revised from Pvt Ltd CARE A2 (enhanced from Rs.60.00 crore) New Print India Pvt Ltd ST Bk Fac CARE A4 37.8 issuer not cooperating Om India Trading Company Pvt Ltd ST Bk Fac CARE A3 275 Reaffirmed (enhanced from 3.00) Omkar Realtors Developers Pvt Ltd ST Bk Fac CARE A3 750 Reaffirmed Prescient Color Ltd ST Bk Fac@ CARE A1 (SO) 40 Revised from CARE A3+ @ The above ratings are based on the credit enhancement in the form of an unconditional and irrevocable corporate guarantee provided by Sudarshan Chemical Industries Limited (SCIL) for the bank facilities of Prescient Color Limited (PCL) Radiant Bar Ltd ST Bk Fac CARE A4 25 Issuer not cooperating Ratnapriya Impex Pvt Ltd ST Bk Fac CARE A4+ 510 Reaffirmed Rausheena Udyog Ltd. ST Bk Fac CARE A4+ 245 Revised from CARE A4 (reduced from 32.50) Sanjay Shukla ST Bk Fac CARE A4 69 Assigned Sanvijay Rolling & Engineering Ltd ST Bk Fac CARE A3 200 Revised from CARE A3+ Sava Healthcare Ltd ST Bk Fac CARE A4 20 issuer not cooperating Shree Hari Chemicals Export Ltd ST Bk Fac CARE A4+ 73.5 Reaffirmed Shri Ram Corporation ST Bk Fac CARE A4 20 Assigned Sinhgad Technical Education Society ST Bk Fac CARE D 244.5 Reaffirmed Summit Corporation Pvt Ltd ST Bk Fac CARE D 15 Issuer not cooperating Talin International Pvt Ltd ST Bk Fac CARE A4 5 Issuer not cooperating The Nagpur Pallottine Society ST Bk Fac CARE A4 10 Reaffirmed The Rajaratna Mills Pvt Ltd ST Bk Fac CARE A4 102.9 Reaffirmed (enhanced from Rs.5.69 crore) Vistas Investments Pvt Ltd ST Bk Fac CARE A4 100 Revised from CARE A2 LONG TERM RATINGS: ——————- Abhinav Overseas (A Unit Of Marino LT Bk Fac CARE B+ 10 Revised from Cables India Pvt Ltd) CARE BB- Accord Builders LT Bk Fac @ CARE BBB- (SO) 459 Assigned @ backed by credit enhancement in form of unconditional and irrevocable corporate guarantee from Omkar Realtors & Developers Private Limited Acp Tollways Pvt Ltd LT Bk Fac CARE BBB 12390 Reaffirmed (reduced from 1250) Agarwal Coal Corporation Pvt Ltd LT Bk Fac CARE A 1500 Reaffirmed Agarwal Fuel Corporation Pvt Ltd LT Bk Fac CARE A 350 Reaffirmed Agarwal Transport Corporation Pvt Ltd LT Bk Fac CARE A 300 Reaffirmed Aishwarya Plast Exports Pvt Ltd Bk Fac-TLLT * – – Withdrawn * The bank term loans have been repaid in full and there is no outstanding against the said loans as on date Aishwarya Plast Exports Pvt Ltd LT – FB – PCFC CARE BB 30 Reaffirmed Alfa Moulding Industries Pvt Ltd LT Bk Fac CARE B+ 55 Reaffirmed Amar Polyfils Pvt Ltd LT Bk Fac CARE BB- 100 Revised from CARE B Ambey Laboratories Pvt Ltd LT Bk Fac CARE BB+ 236.9 Issuer not cooperating B.M.Gupta Estates Pvt Ltd LT Bk Fac CARE B 150 Revised from CARE BB Best Corporation Pvt Ltd LT Bk Fac CARE A 1002.4 Reaffirmed (reduced from 131.28) Best Finance Corporation Pvt Ltd LT Bk Fac CARE BBB+ (SO) 250 Reaffirmed Bholenath Rice Mills LT Bk Fac CARE B+ 57.6 issuer not cooperating Chidambaram Mulraj & Company Pvt Ltd LT Bk Fac CARE BB+ 163.8 Revised from CARE BB Deepak Novochem Technologies Ltd LT Bk Fac CARE BBB- 98 Reaffirmed Deepak Novochem Technologies Ltd LT /ST Bk Fac CARE BBB- 230 Reaffirmed /CARE A3 Deoband Highways Pvt Ltd LT Bk Fac CARE BBB- 3750 Assigned Devu Tools Pvt Ltd LT Bk Fac CARE BB 1248.2 Revised from CARE BB+ (Enhanced from Rs.101.21 crore) G.C. Spintex Ltd LT Bk Fac CARE BBB- 122.5 Assigned G.R Constructions LT Bk Fac CARE B+ 400 Assigned Galaxy Construction And Contractors PvLT Bk Fac CARE B 320 Reaffirmed Ltd Galaxy Offset India Pvt Ltd LT Bk Fac CARE BB+ 466.5 Assigned Galaxy Offset India Pvt Ltd TL CARE BB+ 306.5 Assigned Galaxy Offset India Pvt Ltd CC CARE BB+ 160 Assigned Ghai Construction Ltd LT Bk Fac CARE BB – 50 Revised from BB+ Godawari Traders LT Bk Fac CARE BB- 70 Issuer not cooperating Goyal Motors LT Bk Fac CARE B+ 90 Assigned Heritage Hospital Ltd LT Bk Fac CARE BB+ 2006.7 Reaffirmed (reduced from 209.82) Highrise Facility Solutions Pvt Ltd LT Bk Fac @ CARE BBB- (SO);800 Assigned @ backed by credit enhancement in form of unconditional and irrevocable corporate guarantee from Omkar Realtors & Developers Private Limited Hissar Pipes Pvt Ltd LT Bk Fac CARE BB- 100 Issuer not cooperating Iced Desserts And Food Parlours (IndiaLT Bk Fac CARE B 150 Assigned Pvt Ltd Indianoil Lng Pvt Ltd LT Bk Fac CARE A- 28770 Assigned Ipca Laboratories Ltd LT/ST Bk Fac (FB/ CARE AA /CARE 11900 Assigned Non-FB) A1+ Iq City Foundation LT Bk Fac CARE BBB- 2100 Reaffirmed J & G Transformer Company LT Bk Fac CARE B+ 129.5 Issuer not cooperating J. K. Khanij LT Bk Fac CARE B+ 70 Assigned Jagdamba Timbers Pvt Ltd Long / ST Bk Fac CARE B /CARE A420 issuer not cooperating Jai Beverages Pvt. Ltd. LT Bk Fac CARE BBB+ 53 Revised from BBB (Reduced from Rs.5.53 Crore) Jaiprakash Associates Ltd LT NonConvertible – – Withdrawn* Debentures XI *CARE has withdrawn the rating assigned to the 10.75% Non-Convertible Debenture issue of Jaiprakash Associates Limited with immediate effect, as the company Jaiprakash Associates Ltd LT Bk Fac CARE D 212449.7Reaffirmed Jaiprakash Associates Ltd LT/ST Bk Fac CARE D 54572.3 Reaffirmed Jaiprakash Associates Ltd LT NonConvertible CARE D 17492.5 Reaffirmed Debentures (aggregate) IV, VIII, X, XII, XIII Jindal Dyechem Industries Pvt. Ltd. LT Bk Fac CARE BBB 500 Assigned Jnana Bandhu Education Trust LT Bk Fac CARE BB- 65 Issuer not cooperating Kaizen Switchgear Products LT Bk Fac CARE BBB 55.2 Reaffirmed (reduced from 9.74) Kalinga Media & Entertainment Pvt. LtdLT Bk Fac CARE A (SO) 125 Reaffirmed (enhanced from 9.50) Kanakadurga Finance Ltd LT Bk Fac CARE BBB 628 Revised from CARE BBB- Karni Processors Pvt Ltd LT Bk Fac CARE BB 218 Reaffirmed Kirtiman Cements & Packaging IndustrieLT Bk Fac CARE B+ 270 Revised from Ltd CARE BB- Kpc Medical College And Hospital LT Bk Fac CARE BB 893.9 Reaffirmed (reduced from 91.15) Krg Associates LT Bk Fac CARE B 120 Issuer not cooperating L&T Finance Ltd LT Bk Fac – – withdrawn L&T Finance Ltd NCDs – – withdrawn L&T Finance Ltd NCDs Public Issue – – withdrawn L&T Finance Ltd Perpetual Debt – – withdrawn L&T Finance Ltd CP – – withdrawn L&T Finance Ltd Subordinate Debt – – withdrawn L&T Fincorp Ltd LT Bk Fac – – withdrawn L&T Fincorp Ltd NCDs – – Withdrawn L&T Fincorp Ltd Perpetual Debt – – Withdrawn L&T Fincorp Ltd CP – – Withdrawn L&T Fincorp Ltd Subordinate Debt – – withdrawn Logan Ceramic LT Bk Fac CARE B+ 105.1 issuer not cooperating Maheshwari Agro LT Bk Fac CARE B+ 13.3 Assigned Maheshwari Agro LT/Shortterm Bk FacCARE B+ /CARE 60 Assigned A4 Malpani Cottons Pvt Ltd LT Bk Fac CARE BB- 140 Reaffirmed Metalik Fuel Pvt Ltd Long -term Bk Fac CARE BBB 320 Revised from CARE BBB- Metro Institute Of Medical Sciences PvLT Bk Fac CARE BBB- 1321.9 Reaffirmed Ltd Metro Mas Hospitals Pvt Ltd LT Bk Fac CARE BBB- (SO) 89.8 Reaffirmed (decreased from 16.32) Metro Medical Services Ltd Metro Medical CARE BBB- (SO) 254.5 Reaffirmed Services Ltd (increased from Rs.5.50 crore) Minda Kosei Aluminium Wheel Pvt Ltd LT Bk Fac CARE A+ (SO) 1320 revised from CARE A (SO)* * The rating is based on the credit enhancement in the form of Letter of Comfort from Minda Industries Ltd (MIL) Mstc Ltd LT Bk Fac CARE BBB 8000 Reaffirmed (reduced from 900) Nangalwala Industries Pvt Ltd LT Bk Fac CARE BB 161.9 Assigned Neogrowth Credit Pvt Ltd NCDs CARE BBB 500 Assigned Netafim Agricultural Financing Agency LT Bk Fac CARE A- 2500 Revised from Pvt Ltd CARE BBB+ (enhanced from Rs.60.00 crore) New Print India Pvt Ltd LT Bk Fac CARE B+ 62.2 Revised from CARE BB Niil Infrastructures Pvt Ltd LT Bk Fac CARE D 500 Revised from CARE BB- Nivasan Homes Pvt Ltd LT Bk Fac CARE BB- 70 Assigned Om India Trading Company Pvt Ltd LT Bk Fac CARE BBB- 205.1 Reaffirmed (reduced from 23.60) Om India Trading Company Pvt Ltd LT/ST Bk Fac CARE BBB- 550 Reaffirmed /CARE A3 (reduced from 75.00) Omkar Realtors Developers Pvt Ltd LT Bk Fac CARE BBB- 14580 Reaffirmed Omkar Ventures Pvt Ltd LT Bk Fac @ CARE BBB- (SO) 1100 Assigned @ backed by credit enhancement in form of unconditional and irrevocable corporate guarantee from Omkar Realtors & Developers Private Limited Ozone Urbana Infra Developers Pvt Ltd NCDs-I – – Withdrawn Ozone Urbana Infra Developers Pvt Ltd NCDs-II – – Withdrawn Parasavnath Motors Pvt Ltd LT Bk Fac CARE B+ 60 Assigned Pawan Autowheels Pvt Ltd LT Bk Fac CARE B 111.5 Issuer not cooperating Pengvin Ceramics LT Bk Fac CARE BB 42.7 Reaffirmed (reduced from 4.56) Pengvin Ceramics LT/ ST Bk Fac CARE BB /CARE 13 Reaffirmed A4 Prescient Color Ltd LT Bk Fac@ CARE A+ (SO) 248.9 Revised from CARE BBB (Reduced from 27.79)/ @ The above ratings are based on the credit enhancement in the form of an unconditional and irrevocable corporate guarantee provided by Sudarshan Chemical Industries Limited (SCIL) for the bank facilities of Prescient Color Limited (PCL) Ps Srijan Conclave LT Bk Fac CARE BBB 260 Reaffirmed Ps Srijan Realventure Llp LT Bk Fac CARE BBB+ 500 Reaffirmed Radiant Bar Ltd LT Bk Fac CARE BB 102.5 Issuer not cooperating Ratnapriya Impex Pvt Ltd LT Bk Fac CARE BB 30 Reaffirmed Rausheena Exim LT Bk Fac CARE BB 60 Reaffirmed Rausheena Udyog Ltd. LT Bk Fac CARE BB+ 227.5 Revised from CARE B+ (reduced from 25.10) Revashankar Gems Ltd LT Bk Fac CARE BB+ 450 Issuer not cooperating Rizvi Estates And Hotels Pvt Ltd LT Bk Fac CARE B 180 Reaffirmed (enhanced from 3.33) Sanjay Shukla LT Bk Fac CARE BB- 77.2 Assigned Sanvijay Rolling & Engineering Ltd LT Bk Fac CARE BBB- 3500 Revised from CARE BBB+ Sava Healthcare Ltd LT Bk Fac CARE BB – 210 issuer not cooperating Shree Hari Chemicals Export Ltd LT Bk Fac CARE BB+ 20 Reaffirmed Shri Ram Corporation LT Bk Fac CARE B+ 47.5 Assigned Shri Swami Samarth Engineers LT Bk Fac CARE BB 60 Issuer not cooperating Siddha Real Estate Development Pvt LtdLT Bk Fac CARE BBB 820 Reaffirmed Siddhi Vinayak Cottsin LT Bk Fac CARE B+ 65 issuer not cooperating Sinhgad Technical Education Society LT Bk Fac CARE D 4937.4 Reaffirmed Srinivasa Rice Industry LT Bk Fac CARE B 68 issuer not cooperating Summit Corporation Pvt Ltd LT Bk Fac CARE D 111.7 Issuer not cooperating Suncity Hi-Tech Infrastructure Pvt LtdLT Bk Fac CARE BB 1000 Reaffirmed Sunhill Hospitals Pvt Ltd LT Bk Fac CARE BBB- (SO) 266.9 Reaffirmed (decreased from Rs.32.59 crore) Surana Developers (Wadala) Llp LT Bk Fac @ CARE BBB- (SO) 1130 Assigned @ backed by credit enhancement in form of unconditional and irrevocable corporate guarantee from Omkar Realtors & Developers Private Limited Talin International Pvt Ltd LT/Shortterm Bk FacCARE B+ /CARE 62.5 Issuer not A4 cooperating Tegan Texofab Pvt Ltd LT Bk Fac CARE BB- 127.5 issuer not cooperating Tegan Texofab Pvt Ltd LT/Shortterm Bk FacCARE BB- /CARE 120 issuer not A4 cooperating The Nagpur Pallottine Society LT Bk Fac CARE BB 86.3 Reaffirmed The Rajaratna Mills Pvt Ltd LT Bk Fac CARE BB- 337.2 Reaffirmed (enhanced from Rs.11.52 crore) Trishul Dream Homes Ltd LT Bk Fac CARE BB 150 Assigned Trishul Dream Homes Ltd LT / ST Bk Fac CARE BB /CARE 270 Assigned A4 Unicure India Ltd LT Bk Fac CARE BBB- 70 Reaffirmed Unicure India Ltd LT/ST Bk Fac CARE BBB- 150 Reaffirmed /CARE A3 (enhanced from 9) Union Mutual Fund Union Capital CARE AAAmfs – Assigned Protection (SO) Oriented FundSeries 8 Vaishali Agro Soya Products LT Bk Fac CARE B+ 177.8 Revised from CARE B Vgs Realty Construction Pvt Ltd LT Bk Fac @ CARE BBB- (SO) 378 Assigned @ backed by credit enhancement in form of unconditional and irrevocable corporate guarantee from Omkar Realtors & Developers Private Limited Windsor Exports LT Bk Fac CARE BBB- 354.9 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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