CARE ratings for Indian debt instruments-Oct 28

Published 28-10-2016, 10:23 am
© Reuters.  CARE ratings for Indian debt instruments-Oct 28
CESC
-
GRAS
-
ZEE
-

Oct 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of October 27, 2016. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

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

----------

------

------- --------- SHORT TERM RATINGS: ------------------- Agrawal Construction Company

ST Bk Fac

CARE A4

25

Assigned CESC (NS:CESC) Ltd

ST Bk Fac

CARE A1+

2500

Reaffirmed CESC Ltd

CP (CP) Issue*

CARE A1+

1300

Reaffirmed *CESC maintains that the aggregate outstanding under CP and cash credit shall be within the sanctioned fund based limit Grasim Industries (NS:GRAS) Ltd

ST Bk Fac

CARE A1+

4000

Reaffirmed Grasim Industries Ltd

CP (CP) issue*

CARE A1+

5000

Reaffirmed (Reduced from Rs.1,250 crore) *Interchangeable between CP issue of Rs.1,250 crore and Short Term Bank Loan (STL) of equivalent amount. Infrastructure Leasing & Financial

CP issue / ST debt CARE A1+

9750

Reaffirmed Services Ltd.

programme International Trade Links Pvt Ltd

ST Bk Fac

CARE A4

3

Reaffirmed Keventer Agro Ltd

ST Bk Fac

CARE A3

499

Reaffirmed (Enhanced from 42.90 Cr) Maa Uttar Bahini Agro Industries Pvt ST Bk Fac

CARE A4

2.8

Assigned Ltd Orient Abrasives Ltd

ST Bk Fac

CARE A1

130

Revised from

CARE A1+ (enhanced from Rs. 10 crore ) Skipper Ltd

CP (CP) Issue*

CARE A1+

500

Revised from

CARE A1 *carved out of the sanctioned working capital limits of the company Success Exim Pvt Ltd

ST Bk Fac

CARE A4

110

Reaffirmed TRV Global Exports Pvt Ltd

ST Bk Fac

CARE A4

140

Reaffirmed Zee Entertainment (NS:ZEE) Enterprises Ltd

ST Bk Fac

CARE A1+

800

Reaffirmed LONG TERM RATINGS: ------------------- Agrawal Construction Company

LT Bk Fac

CARE BB-

25

Assigned Basant City Centre Malls Pvt. Ltd.

LT Bk Fac

CARE BB-

100

Reaffirmed CESC Ltd

LT Bk Fac

CARE AA

14576.2 Reaffirmed (enhanced from 1,207.62 Cr) Chaitanya India Fin Credit Pvt Ltd

LT Bk Fac

CARE BBB-

150.3 Revised from

CARE BB+ (reduced from 21.84 crore) Fast Track Cfs Pvt Ltd

LT Bk Fac

CARE B+

130

Assigned Grasim Industries Ltd

LT Bk Fac

CARE AAA

17500 Reaffirmed Grasim Industries Ltd

NCD issue (LT

CARE AAA

3500

Reaffirmed

umbrella rating) Himalayan Heli Services Pvt Ltd

LT Bk Fac

CARE BB+

186.7 Reaffirmed Infrastructure Leasing & Financial

NCD

CARE AAA

65665.4 Reaffirmed Services Ltd. Infrastructure Leasing & Financial

Subordinated Debt CARE AAA

68.5

Reaffirmed Services Ltd. Infrastructure Leasing & Financial

PS

CARE AAA(RPS) 15000 Reaffirmed Services Ltd. International Trade Links Pvt Ltd

LT Bk Fac

CARE BB-

245.5 Revised from

CARE B+ Jammu & Kashmir Bank Ltd

Lower Tier II BondsCARE AA-

6000

Reaffirmed Keventer Agro Ltd

LT Bk Fac

CARE BBB-

985.6 Reaffirmed (Enhanced from 95.88 Cr) Keventer Agro Ltd

LT / ST Bk Fac

CARE BBB-/CARE 551.5 Reaffirmed

A3 (Enhanced from 45.15 Cr) Maa Uttar Bahini Agro Industries Pvt LT Bk Fac

CARE B+

34.6

Assigned Ltd Marudhar Polysacks Pvt Ltd

LT Bk Fac

CARE BB

140

Assigned Mehrab N Irani And Company

LT Bk Fac

CARE BB-

125

Assigned Nigam Cold Storage Pvt Ltd

LT Bk Fac

CARE B+

45

Reaffirmed Orient Abrasives Ltd

LT Bk Fac

CARE A

1110

Reaffirmed (enhanced from Rs. 55 crore) Pudhuaaru Financial Services Pvt Ltd LT Bk Fac

CARE BBB-

440.1 Reaffirmed Pudhuaaru Financial Services Pvt Ltd LT / ST Bk Fac

CARE BBB-/CARE 1559.9 Reaffirmed

A3 Saveera Hospital Pvt Ltd

LT Bk Fac

CARE BB

383.9 Revised from

CARE BB- (enhanced from 35 Cr) Shivani Cotex Pvt Ltd

LT Bk Fac

CARE B+

120

Suspension

Revoked and

Reaffirmed Siti Networks Ltd (Formerly Known As LT Bk Fac

CARE A-

1500

Reaffirmed Siti Cable Network Ltd) Siti Networks Ltd (Formerly Known As LT Fac@

CARE AA+ (SO) 13490.7 Reaffirmed Siti Cable Network Ltd) @Outstanding as on Sep 30, 2016. Backed by unconditional & irrevocable Corporate Guarantee extended by Zee Entertainment Enterprise Limited (rated CARE AA+/A1+) to the lenders of Siti Cable Network Limited (SCNL), to maintain debt service reserve account (DSRA) for a stipulated size Skipper Ltd

LT Bk Fac

CARE A+

4345

Reaffirmed [enhanced from 341.63 Cr] Skipper Ltd

LT / ST Bk Fac

CARE A+/CARE 13000 Revised from

A1+

CARE A+/ CARE

A1 [enhanced from 960 Cr] Success Exim Pvt Ltd

LT Bk Fac

CARE BB-

40

Revised from

CARE BB+ TRV Global Exports Pvt Ltd

LT Bk Fac

CARE C

30

Reaffirmed Windlass Engineers & Services Pvt Ltd Bk Fac

-

-

Suspended Windlass Steelcrafts Llp

Bk Fac

-

-

Suspended Zee Entertainment Enterprises Ltd

LT Bk Fac

CARE AA+

1250

Reaffirmed Zee Learn Ltd

LT NCD (NCD) issue@CARE AA+ (SO) 650

Reaffirmed @ backed by unconditional & irrevocable Corporate Guarantee extended by Zee Entertainment Enterprise Limited (rated CARE AA+/A1+) for maintaining Debt Service Reserve Account (DSRA) to top up the reserve account to meet any shortfall in servicing outstanding obligations of the said debentures, seven days prior to the due date -------------------------------------------------------------------------------------------- $: 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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