CARE ratings for Indian debt instruments-Apr 22

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CARE ratings for Indian debt instruments-Apr 22
Credit: © Reuters.

Apr 22 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of April 21, 2016. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

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

----------

------

------- --------- SHORT TERM RATINGS: ------------------- Abans Broking Services Pvt Ltd

ST Bk Fac

CARE A4+

350

Assigned Abans Commodities India Pvt Ltd

ST Bk Fac

CARE A4+

200

Assigned Abhinav Steels And Power Ltd

ST Bk Fac

CARE D

280

Revised from

CARE A4 Bindals Papers Mills Ltd

ST Bk Fac

CARE A4

1212

Revised from

CARE D C. J. Corporation

ST Bk Fac (Non

CARE A4+

110

Revised from

fund based)

CARE A3 Hillways Construction Company Pvt Ltd ST Bk Fac

CARE A2

535

Reaffirmed (Enhanced from Rs. 30 crores) Intergold India Pvt Ltd

ST Bk

CARE A2+

5

Reaffirmed

Fac(Non-fundbased) Lalitha Chem Industries Pvt Ltd

ST Bk Fac - Non-FB CARE A3

652.5 Assigned

- LC/BG Manaj Infraconstruction Ltd

ST non-fund based CARE A2+ (SO) 350

Reaffirmed

Bk limits Neelachal Ispat Nigam Ltd

ST Bk Fac

CARE A4

1570.5 Reaffirmed Rajasthan Infra Projects Ltd

ST Bk Fac

CARE A4

30

Reaffirmed Rajshila Synthetics Pvt Ltd

ST Bk Fac

CARE A4+

280

Reaffirmed Reliance Life Sciences Pvt Ltd

ST Bk Fac

CARE A1+

1500

Reaffirmed Reliance Life Sciences Pvt Ltd

CP*

CARE A1+

1050

Reaffirmed

* carved out of the working capital limits SFC Environmental Technologies Pvt

ST Bk Fac

CARE A1

400

Assigned Ltd

(Non-fundbased) Shyam Steel Industries Ltd.

ST Bk Fac

CARE A3+

311.6 Revised from

CARE A3 Singhal Strips Ltd

ST Bk Fac

CARE A4

120

Reaffirmed (enhanced from Rs. 10 crore) Sova Ispat Ltd

ST Bk Fac *

CARE A3+ (SO) 297.5 Revised from

CARE A3 (SO) *backed by unconditional & irrevocable guarantee extended by Shyam Steel Industries Limited Surana Industries Ltd

ST Bk Fac

CARE D

756.3 Reaffirmed Worlds Window Impex India Pvt Ltd

ST Bk Fac

CARE A2+

7010

Reaffirmed LONG TERM RATINGS: ------------------- Abans Broking Services Pvt Ltd

LT Bk Fac

CARE BB+

20

Assigned Abans Finance Pvt Ltd

LT Bk Fac

CARE BB+

50

Assigned Abans Jewels Pvt Ltd

Bk Fac (Fund Based CARE BB+ /CARE 80

Assigned

and Non Fund Based)A4+ Abhinav Steels And Power Ltd

LT Bk Fac

CARE D

3794.1 Revised from

CARE B+ Allahabad Bypass Pathways Pvt Ltd

LT Bk Fac

CARE BBB (SO) 139

Assigned Allahabad Bypass Pathways Pvt Ltd

LT/ ST Bk Fac

CARE BBB (SO) 486

Assigned

/CARE A3+ (SO) Araanya Mines Pvt Ltd

LT Bk Facility

* CARE BBB+ (SO) 550

Assigned *Based on irrevocable and enforceable (notwithstanding any dispute) guarantee of Aloke Steels Industries Pvt Ltd (ASIPL) and Maa Chhinnmastika Cement & Ispat Pvt Ltd (MCCIPL) for the entire debt servicing obligation during the full tenure of the facility. Betul Oil Ltd

LT Bk Fac

CARE BBB

750

Assigned Bindals Papers Mills Ltd

LT Bk Fac

CARE C

3501

Revised from

CARE D Bright Enterprises Pvt Ltd

LT Bk Fac

CARE BBB

2550

Reaffirmed C. J. Corporation

LT Bk Fac (TL)

-

-

Withdrawn C. J. Corporation

LT Bk Fac (Fund

CARE BB+

120

Revised from

based)

CARE BBB- Clean Sustainable Solar Energy Pvt LtdLT Bk Fac

CARE BBB+ (SO) 1649.5 Reaffirmed [Reduced from Rs.168.75 crore] Devanshi Powers Ltd

LT Bk Fac

CARE BB-

160

Revised from

CARE B+ (enhanced from 9 Cr) Dudh Ganga

LT Bk Fac

CARE BB+ (SO) 50

Reaffirmed ETP International Pvt Ltd

LT Bk Fac

CARE BB

113.2 Reaffirmed Hillways Construction Company Pvt Ltd LT Bk Fac

CARE BBB+

115

Reaffirmed (Enhanced from Rs. 5 crores) Intergold India Pvt Ltd

LT Bk Fac(FB)

CARE A-

750

Reaffirmed Kamran Exports Pvt Ltd

LT Bk Fac

CARE BB

300

Assigned Lalitha Chem Industries Pvt Ltd

LT Bk Fac - FB -CC CARE BBB-

230

Assigned M/S. Jay Jalaram Enterprise

LT Bk Fac

CARE BB

150

Assigned Man Infraconstruction Ltd (NS: MANI )

LT fund based Bk CARE A-

575

Reaffirmed

Fac Man Infraconstruction Ltd

Long/ST non-fund CARE A-/CARE 1881.8 Reaffirmed

based Bk Fac

A2+ Manaj Tollway Pvt Ltd

LT fund based Bk CARE A- (SO) 1700

Reaffirmed

limits Neelachal Ispat Nigam Ltd

Long- term Bk Fac CARE A+(SO)

7822.3 Reaffirmed

(TL Phase-I) # # The said bank facilities/instruments are guaranteed by unconditional and irrevocable corporate guarantee by MMTC (NS: MMTC ) Ltd Neelachal Ispat Nigam Ltd

NCDs-I (NCD-I) # CARE A+(SO)

2000

Reaffirmed # The said bank facilities/instruments are guaranteed by unconditional and irrevocable corporate guarantee by MMTC Ltd Neelachal Ispat Nigam Ltd

NCDs -II (NCD-II) #CARE A+(SO)

2000

Reaffirmed # The said bank facilities/instruments are guaranteed by unconditional and irrevocable corporate guarantee by MMTC Ltd Neelachal Ispat Nigam Ltd

LT Bk Fac (CC)

CARE B-

1400

Reaffirmed Neelachal Ispat Nigam Ltd

LT Bk Fac (TL

CARE D

5611.9 Reaffirmed

Phase-II) Patel Bridge Nirman Pvt Ltd

LT Bk Fac

CARE A

1700

Revised from

CARE A- (enhanced from Rs.140.00 crore) Patel Highway Management Pvt Ltd

LT Bk Fac @

CARE A- (SO) 1198.4 Reaffirmed (reduced from Rs.178.89 crore) @ The above bank facilities are backed by the unconditional and irrevocable corporate guarantee of Patel Infrastructure Private Limited (PIPL; rated: CARE A- and CARE A2) Patel Infrastructure Pvt Ltd

LT Bk Fac

CARE A-

1000

Reaffirmed (enhanced from Rs.70.00 crore) Patel Infrastructure Pvt Ltd

LT /Short- term Bk CARE A- /CARE 6300

Reaffirmed

limits

A2 (enhanced from Rs.400.00 crore) Pnc Delhi Industrial Infra Pvt Ltd

LT Bk Fac

CARE BBB

1164.2 Reaffirmed Rajasthan Infra Projects Ltd

LT Bk Fac

CARE BB

1201.6 Reaffirmed Rajshila Synthetics Pvt Ltd

LT Bk Fac

CARE BB

20

Reaffirmed Reliance Life Sciences Pvt Ltd

LT Bk Fac

CARE AAA

2050

Reaffirmed S. M. Autostar Pvt Ltd

LT Bk Fac

CARE B

92.5

Assigned SFC Environmental Technologies Pvt

LT Bk Fac (FB)

CARE A-

100

Assigned Ltd SFC Environmental Technologies Pvt

LT/ ST Bk Fac

CARE A-/

100

Assigned Ltd

(NonFB)

CARE A1 Shree Chanakya Education Society

LT Bk Fac

CARE BB+

474.3 Revised from

CARE BBB- [Reduced from 58.78 Cr] Shyam Steel Industries Ltd.

LT Bk Fac

CARE BBB+

2551.6 Revised from

CARE BBB (reduced from 291.77 Cr) Shyam Steel Industries Ltd.

LT /ST Bk

CARE BBB+/

320

Revised from

limits

CARE A3+

CARE BBB/

CARE A3 Singhal Strips Ltd

LT Bk Fac

CARE BB+

350

Reaffirmed (enhanced from Rs. 25 crores) Sova Ispat Ltd

LT Bk Fac *

CARE BBB+(SO) 750

Revised from

CARE BBB (SO) (reduced from 91.42 Cr) *backed by unconditional & irrevocable guarantee extended by Shyam Steel Industries Limited Surana Industries Ltd

LT Bk Fac

CARE D

5172.8 Reaffirmed Tarang Jewels Pvt. Ltd.

LT Bk Fac

CARE B

150

Assigned Three M Paper Manufacturing Company LT Bk Fac

CARE BB+

398.6 Revised from Pvt Ltd

CARE BBB- Uttar Haryana Bijli Vitran Nigam Ltd Issuer Rating

CARE BB (Is)

Reaffirmed Worlds Window Impex India Pvt Ltd

LT/ST Bk Fac ^

-

-

Withdrawn ^WWIIPL has surrendered the aforementioned bank facilities rated by us and there is no outstanding under the said facility Worlds Window Impex India Pvt Ltd

LT Bk Fac

CARE A-

1990

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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