CARE ratings for Indian debt instruments-Apr 1

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CARE ratings for Indian debt instruments-Apr 1

Apr 1 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of March 31, 2015. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) -------

----------

------

------- --------- SHORT TERM RATINGS: ------------------- Atlantis Products Pvt. Ltd

ST Bk Fac

CARE A4+

5

Reaffirmed Bright Power Projects (India) Pvt. LtdST Bk Fac

CARE A4+

500

Reaffirmed Bsr Cancer Hospital Pvt Ltd

ST

CARE A3 (SO) 10

Reaffirmed Bsr Diagnostic Ltd

ST

CARE A3 (SO) 60

Reaffirmed Cleanroom Technologies Ltd

ST Bk Fac

CARE A2+

150

Reaffirmed (enhanced from 8.20) Ganpati Sugar Industries Ltd

ST Bk Fac

CARE A3

40

Assigned Garg Inox Ltd

ST Bk Fac

CARE A4

827.6 Reaffirmed (Reduced from 87.36 CR) Gcl Pvt Ltd

ST Bk Fac

CARE A4

40

Assigned Gopi Synthetics Pvt Ltd

ST Bk Fac

CARE A3

90

Reaffirmed (enhanced from Rs.8.00 crore) GTL (NSE: GTL ) Ltd

ST Non-FB Bk

CARE D

39000 Reaffirmed

Limits Himenviro Environmental Engineering CoST Bk Fac

CARE A4+

155

Assigned Pvt Ltd Hmt Machine Tools Ltd

ST Fac(Non-FB)

CARE A4

120

Reaffirmed Hmt Machine Tools Ltd

ST Bk Fac (Non-FB) CARE A4

659

Reaffirmed Janki Agro Industries

ST Bk Fac

CARE A4

4.1

Assigned Kamla Construction Comapny

ST Bk Fac

CARE A4+

58

Reaffirmed Kancor Ingredients Ltd

ST Bk Fac

CARE A3

442.5 Reaffirmed Khaitan Electricals Ltd

ST Bk Fac

CARE A4

899.4 Revised from

CARE A4+ Kotak Mutual Fund

ST Bk Fac*

CARE A1+

15000 Reaffirmed *Facility is extended to 4 debt schemes of Kotak Mutual Fund Loyal Textile Mills Ltd

ST Bk Fac

CARE A3+

2030

Reaffirmed Mahalaxmi Rubtech Ltd

ST Bk Fac

CARE A2

30

Revised from

CARE A3+ Nilachal Iron & Power Ltd

ST Bk Fac

CARE D

140

Revised from

CARE A4 N.J. Textile Industries Pvt. Ltd.

ST Bk Fac

CARE A4

12.5

Reaffirmed R. D. Forge

ST Bk Fac

CARE A4

10

Reaffirmed (Reduced from 1.50 CR) Rajiv Petrochemicals Pvt. Ltd

ST Bk Fac

CARE A4+

437.5 Reaffirmed Rajratan Global Wire Ltd

ST Bk Fac

CARE A4+

471.1 Reaffirmed (Enhanced from Rs.34.36 crore) Rays Power Experts Pvt Ltd

ST Bk Fac

CARE A3

400

Assigned Shiv Shakti Sponge Iron Ltd

ST Bk Fac

CARE A4

38

Reaffirmed Sona Alloys Pvt Ltd

ST Bk Fac*

CARE A4

1153.3 Revised from

CARE D (reduced from 246 CR)

* Short Term rating assigned to the standby line of credit facilities is withdrawn Star Ferro & Cement Ltd

ST Bk Fac

CARE A2+

30

Placed on

credit watch Steelexpert Industries (Indore) Ltd ST Bk Fac

CARE A4

50

Assigned Teesta Agro Industries Ltd

ST Bk Fac

CARE A3

230

Reaffirmed (reduced from 28 CR) Tulshyan Metals Pvt Ltd

ST Bk Fac

CARE A4

35

Assigned Upper Ganges Sugar & Industries Ltd ST Bk Fac

CARE A3

203.5 Placed on

credit watch (reduced from Rs.27.80 crore) Viom Networks Ltd

ST Bk Fac

CARE A1

4650

Revised from

CARE A2+ (Enhanced from 290 CR ) Vivek Pharmachem (India) Ltd

ST Bk Fac

CARE A3

100

Reaffirmed LONG TERM RATINGS: ------------------- Aayur Technology Solutions Pvt Ltd

Bk Fac

-

-

Suspended Anush Finlease And Construction Pvt LtLT Bk Fac

CARE D

823.9 Reaffirmed Arg Developers Pvt Ltd

LT Bk Fac

CARE BB

300

Assigned Arka Education & Cultural Trust

Bk Fac

-

-

Suspended Arka Eduserve Pvt Ltd

Bk Fac

-

-

Suspended Asian Construction Company

Bk Fac

-

-

Suspended Atlantis Products Pvt. Ltd

LT Bk Fac

CARE BB

41.3

Reaffirmed Atlantis Products Pvt. Ltd

LT/ST Bk Fac

CARE BB /CARE 200

Reaffirmed

A4+ Avanse Financial Services Ltd

LT Bk Fac

CARE AA+ (SO) *100

- *All the above ratings are backed by a letter of comfort issued by Dewan Housing (NSE: DWNH ) Finance Corporation Ltd. Avanse Financial Services Ltd

LT Bk Fac

CARE AA+ (SO) *2400

Reaffirmed *All the above ratings are backed by a letter of comfort issued by Dewan Housing Finance Corporation Ltd. Bhavnagar Energy Company Ltd

LT Bk Fac

CARE BBB+

33022.4 Revised from

CARE A- (Enhanced from 2,994.00) Bkb Transport Pvt Ltd

LT

CARE D

876.2 Reaffirmed (Reduced from 94.79 CR) Bright Power Projects (India) Pvt. LtdLT Bk Fac

CARE BB+

305

Reaffirmed Bsr Cancer Hospital Pvt Ltd

LT

CARE BBB- (SO) 91.3

Reaffirmed (10.00 CR from last year) Bsr Diagnostic Ltd

LT

CARE BBB- (SO) 756.7 Reaffirmed (83.68 from last year) Bsr Super Speciality Hospitals Ltd

LT

CARE BBB-

338

Reaffirmed (enhanced from 30.10 CR) City View Bangalore Properties Pvt LtdLT Bk Fac

CARE D

3700

Reaffirmed City View Bangalore Properties Pvt LtdST Bk Fac

CARE D

1950

Reaffirmed Cleanroom Technologies Ltd

LT Bk Fac

CARE A-

191.4 Revised from

CARE BBB+ (reduced from 20.08) Cleanroom Technologies Ltd

LT/ST Bk Fac

CARE A- /CARE 350

Revised from

A2

CARE BBB+ /

CARE A2+ (enhanced from 21.00) Coimbatore Integrated Waste ManagementLT FB Bk Limits

CARE D

46.4

Reaffirmed Co. Pvt. Ltd Coimbatore Integrated Waste ManagementST non-FB Bk

CARE D

50

Reaffirmed Co. Pvt. Ltd

Limits Deesan Infrastructure Pvt Ltd

LT Bk Fac

CARE BB

200

Assigned Devbhumi Arcade Pvt Ltd

Bk Fac

-

-

Suspended Divya Agro Roller Flour Mills Pvt

LT Bk Fac

CARE B+

96

Assigned Limtied Em Cee Cee Sports Agencies Pvt Ltd

Bk Fac

-

-

Suspended Essix Biosciences Ltd

Bk Fac

-

-

Suspended Ganpati Sugar Industries Ltd

LT Bk Fac

CARE BBB-

851.2 Assigned Garg Inox Ltd

LT Bk Fac

CARE BB-

1156.2 Revised from

CARE BB (Enhanced from 111.92 CR) Gcl Pvt Ltd

LT Bk Fac

CARE B

177.1 Assigned Gemini Dyeing & Printing Mills Ltd

Bk Fac

-

-

Suspended Gina Developers Pvt Limtied

LT Bk Fac

CARE BB-

119.2 Revised from

CARE B+ Gopi Synthetics Pvt Ltd

LT Bk Fac

CARE BBB-

724.7 Reaffirmed (enhanced from Rs.65.04 crore) Gtl Ltd

LT FB Bk Limits

CARE D

1000

Reaffirmed Gtl Ltd

NCD

CARE D

14000 Reaffirmed Hasti Petro Chemical & Shipping Ltd LT Bk Fac

CARE B+

260

Assigned Hazaribagh Ranchi Expressway Ltd.

Proposed NCD/bond CARE AA-

1700

Assigned

issue Himalya International Ltd

Bk Fac

-

-

Suspended Himenviro Environmental Engineering CoLT Bk Fac

CARE BB+

50

Assigned Pvt Ltd Himenviro Environmental Engineering CoLT/ST Bk Fac

CARE BB+ /CARE 50

Assigned Pvt Ltd

A4+ Hmt Machine Tools Ltd

LT Bk Fac (FB)

CARE D

448.2 Revised from

CARE C Inspira Martifer Solar Ltd

Bk Fac

-

-

Suspended Jai Balaji Industries (NSE: JAIB ) Ltd

LT Bk Fac

CARE D

23276.8 Reaffirmed Jai Balaji Industries Ltd

ST Bk Fac

CARE D

1354.1 Reaffirmed Jai Balaji Industries Ltd

LT/ST Bk Fac

CARE D

963.6 Reaffirmed Janam Steel And Alloys

LT Bk Fac

CARE B+

100

Reaffirmed Janki Agro Industries

LT Bk Fac

CARE B+

181.4 Reaffirmed Kamla Construction Comapny

LT Bk Fac

CARE BB+

27.4

Reaffirmed (reduced from 2.92 CR) Kancor Ingredients Ltd

LT Bk Fac

CARE BBB-

1511.9 Reaffirmed Kancor Ingredients Ltd

LT/ST Bk Fac

CARE BBB-

204.3 Reaffirmed

/CARE A3 Kapico Kerala Resorts Pvt Ltd

Bk Fac

-

-

Suspended Ketan Brothers Diamondz Exports

Bk Fac

-

-

Suspended Khaitan Electricals Ltd

LT Bk Fac

CARE BB-

1606.9 Revised from

CARE BB+ Kripa Telecom

Bk Fac

-

-

Suspended Krishnasai Educational Society

LT Bk Fac

CARE BB

87

Assigned Kshem Kalyani Industries

Bk Fac

-

-

Suspended Loyal Textile Mills Ltd

LT Bk Fac

CARE BBB

4779.1 Reaffirmed Loyal Textile Mills Ltd

LT/ST Bk Fac

CARE BBB /CARE 250

Reaffirmed

A3+ Macro Group Pvt Ltd

Bk Fac

-

-

Suspended Mahalaxmi Rubtech Ltd

LT Bk Fac

CARE BBB+

232.2 Revised from

CARE BBB Mahalaxmi Rubtech Ltd

LT/ST Bk Fac

CARE BBB+

95.5

Revised from

/CARE A2

CARE BBB /

CARE A3+ Manaksia Coated Metals & Industries LtBk Fac

-

-

Withdrawn Maxwell Inc

Bk Fac

-

-

Suspended Mayar Infrastructure Development Pvt LBk Fac

-

-

Suspended N.J. Textile Industries Pvt. Ltd.

LT/ST Bk Fac

CARE BB+/CARE 225

Reaffirmed

A4 Nasim Ahsan Construction Pvt. Ltd

Bk Fac

-

-

Suspended Nilachal Iron & Power Ltd

LT Bk Fac

CARE D

759.9 Revised from

CARE B Parvin Cotex Pvt Ltd

LT Bk Fac

CARE BB-

100

Revised from

CARE BB Pawar Patkar Construction Pvt Ltd

Bk Fac

-

-

Suspended Prestige Education Society

LT Bk Fac

CARE BBB+

67.7

Reaffirmed (Reduced from 14.23 CR) R. D. Forge

LT Bk Fac

CARE BB-

19.7

Reaffirmed (Enhanced from 1.60 CR) R. D. Forge

LT/ST Bk Fac

CARE BB- /A4 80

Reaffirmed Rajiv Petrochemicals Pvt. Ltd

LT Bk Fac

CARE BB-

108.5 Reaffirmed Rajratan Global Wire Ltd

LT Bk Fac

CARE BB+

232.3 Reaffirmed (Reduced from Rs.25.47 crore) Rajratan Global Wire Ltd

LT/ST Bk Fac

CARE BB+ /CARE 532.5 Reaffirmed

A4+ Rane (Madras) Ltd

Bk Fac

-

-

Suspended Rays Power Experts Pvt Ltd

LT Bk Fac

CARE BBB-

100

Assigned Royal Infraconstru Ltd

LT Bk Fac

CARE BBB+

273.8 Reaffirmed (Reduced from 29.63 CR) Royal Infraconstru Ltd

LT/ST Bk Fac

CARE BBB+

3550

Reaffirmed

/CARE A3+ (Enhanced from 299 CR) Saraf Export Palace

Bk Fac

-

-

Suspended Shiv Marine Industries Pvt Ltd

LT/ST Bk Fac

CARE B+/CARE A470

Assigned Shiv Shakti Sponge Iron Ltd

LT Bk Fac

CARE B+

139.5 Reaffirmed (reduced from 14 C4R) Shivom Minerals Ltd

LT Bk Fac

CARE BBB-

400

Reaffirmed (reduced from 40.80 CR) Shree Balajee Landmark Hotels Pvt Ltd Bk Fac

-

-

Suspended Shri Colonizers And Developers Pvt LtdBk Fac

-

-

Suspended Shubham Ginning Pressing Pvt Ltd

LT Bk Fac

CARE B+

200

Reaffirmed Snc Power Corporation Pvt Ltd

Bk Fac

-

-

Suspended Sona Alloys Pvt Ltd

LT Bk Fac

CARE B+

9525.3 Revised from

CARE D (enhanced from 601.97 CR) Sona Alloys Pvt Ltd

LT/ST Bk Fac

CARE B+ /CARE 200

Revised from

A4

CARE D (reduced from 38.95 CR) Spanco Ltd

LT FB Bk Limits

CARE D

4850

Reaffirmed Spanco Ltd

Long/ST non-FB Bk CARE D

5885

Reaffirmed

Limits Spanco Ltd

NCDs (NCDs)

CARE D

920

Reaffirmed Spgv Petrochem (India) Pvt Ltd

LT/ST Bk Fac

CARE BB /CARE 248

Reaffirmed

A4+ Sri Bhagawan Mahaveer Jain EducationalBk Fac

-

-

Suspended & Cultural Trust Star Ferro & Cement Ltd

LT Bk Fac

CARE A-

300

Placed on

credit watch (Enhanced from 17.00 CR) Steelexpert Industries (Indore) Ltd LT Bk Fac

CARE BB

60

Assigned Suncity Sheets Pvt Ltd

LT Bk Fac

CARE BB+

469.5 Revised from

CARE BB- Swarna Tollway Pvt Ltd

LT Bk Fac

CARE AA-

1130.4 Revised from

CARE A (Reduced from 241.79 CR ) Swarna Tollway Pvt Ltd

LT NCD

CARE AA-

1200

Assigned Teesta Agro Industries Ltd

LT Bk Fac

CARE BBB-

200

Reaffirmed (reduced from 25 CR) Terra Infra Development Ltd

LT/ST Bk Fac

CARE BB-/CARE 92.8

Reaffirmed

A4 Tgb Banquets & Hotels Ltd

LT Bk Fac

CARE B+

1061.1 Revised from

CARE BB+ The Kalgidhar Society

Bk Fac

-

-

Suspended Tulip Infratech Pvt Ltd

LT Bk Fac

CARE BBB

1600

Assigned Tulshyan Metals Pvt Ltd

LT Bk Fac

CARE B

20

Assigned Universal Industrial Equipment &

Bk Fac

-

-

Suspended Technical Services Pvt. Ltd Upper Ganges Sugar & Industries Ltd LT Bk Fac

CARE BBB-

3418

Placed on

credit watch (reduced from Rs.373.98 crore) Viom Networks Ltd

LT Bk Fac

CARE A-

66756.6 Reaffirmed (Reduced from 6805.04 CR) Vivek Pharmachem (India) Ltd

LT Bk Fac

CARE BBB-

126

Reaffirmed Vivek Pharmachem (India) Ltd

LT/ST Bk Fac

CARE BBB-

110

Reaffirmed

/CARE A3 Wondervalue Realty Developers Pvt Ltd LT Bk Fac - TL

CARE BB

2800

Reaffirmed Wondervalue Realty Developers Pvt Ltd LT Bk Fac - BG

CARE BB

200

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.

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