Nov 23 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of November 22, 2017. COMPANY
INSTRUMENT
RATING
AMOUNT MOVEMENT
(RS.MLN) -------
----------
------
------- --------- SHORT TERM RATINGS: ------------------- Apollo Polyvinyl Pvt Ltd
ST Bk Fac
CARE A4
130
Assigned Bajoria Agro Processing Pvt Ltd
ST Bk Fac
CARE A4
15
Assigned Bst Textile Mills Pvt Ltd
Bk Fac-Non-fund
CARE A3
10
Assigned
based - ST-BGs Clean Max Enviro Energy Solutions Pvt ST Bk Fac (LC/
CARE A2
1150
Assigned Ltd
Forward cover) High Breetd Fashions
ST Bk Fac
CARE A4
95
Reaffirmed Jesons Industries Ltd
ST Bk Fac Non-FB CARE A3+
1305
Revised from
CARE A3 Kapoor Imaging Pvt Ltd
ST Bk Fac
CARE A4
200
Reaffirmed Mahajan Fabrics Pvt Ltd
ST Bk Fac
CARE A4
40
Reaffirmed Piramal Enterprises (NS:PIRA) Ltd
CP
CARE A1+
90000 Reaffirmed Rajhans Metals Pvt Ltd
ST Bk Fac
CARE A4
531.5 Reaffirmed (enhanced from 19.35 CR) Sai Overseas
ST Bk Fac
CARE A4
40
Assigned The Cotton Corporation Of India Ltd ST Bk Fac (For
CARE A1+
40000 Reaffirmed
Commercial
Operations) The Cotton Corporation Of India Ltd ST Bk Fac* (For
CARE A1+ (SO) 250000 Reaffirmed
MSP Operations)
* Credit enhancement being received in the form of the Letter of Comfort issued by Ministry of Textiles, Government of India (GoI) for the cotton season 2017- 18; towards reimbursing any loss on account of MSP operations to be conducted by CCI LONG TERM RATINGS: ------------------- Acuity India Resorts Pvt Ltd
LT Bk Fac
CARE D
83.7
Revised from
CARE B+ Akme Fincon Ltd.
LT Bk Fac
CARE BB+
350 Suspension revoked and reaffirmed Ambit Finvest Pvt Ltd
LT Debt Programme* CARE A+ (SO) 650
Final Rating# *based on credit enhancement in the form of an unconditional and irrevocable guarantee from the parent, Ambit Private Limited (APL); # Final rating assigned Ambit Finvest Pvt Ltd
LT Debt Programme* CARE A+ (SO) 1517.5 Reaffirmed (Reduced from Rs.161.75 crore); *based on credit enhancement in the form of an unconditional and irrevocable guarantee from the parent, Ambit Private Limited (APL) Ambit Finvest Pvt Ltd
LT Debt Programme*^CARE A+ (SO) 1332.5 Reaffirmed (Reduced from Rs.188.25 crore); *based on credit enhancement in the form of an unconditional and irrevocable guarantee from the parent, Ambit Private Limited (APL); ^The rating is provisional and will be confirmed upon receipt of executed guarantee documents to the satisfaction of CARE Apollo Polyvinyl Pvt Ltd
LT Bk Fac - TL
CARE BB-
438.8 Reaffirmed Apollo Polyvinyl Pvt Ltd
LT Bk Fac - CC
CARE BB-
130
Assigned Ashwini Frozen Foods
LT Bk Fac
CARE D
1.5
Revised from
CARE B Ashwini Frozen Foods
ST Bk Fac
CARE D
2.5
Revised from
CARE A4 Ashwini Frozen Foods
Bk Fac
CARE D
60
Revised from
CARE B /A4 Bajoria Agro Processing Pvt Ltd
LT Bk Fac
CARE BB-
125
Assigned Bst Textile Mills Pvt Ltd
Bk Fac-Fund based CARE BBB
392.5 Reaffirmed
- LT-CC (enhanced from Rs.15 crore) Bst Textile Mills Pvt Ltd
Bk Fac-Fund based CARE BBB
147.5 Assigned
- LT-TL Clean Max Enviro Energy Solutions Pvt LT Bk Fac (CC)
CARE BBB+
100
Assigned Ltd Jesons Industries Ltd
LT Bk Fac - TL
CARE BBB+
113.4 Revised from
CARE BBB Jesons Industries Ltd
LT Bk Fac FB
CARE BBB+
500
Revised from
CARE BBB Kapoor Imaging Pvt Ltd
LT Bk Fac - TL
CARE BB
570
Reaffirmed Kapoor Imaging Pvt Ltd
LT Bk Fac - CC
CARE BB
220
Reaffirmed Mahajan Fabrics Pvt Ltd
LT Bk Fac
CARE B+
124.6 Reaffirmed (Reduced from 13.09 crore) Mahajan Fabrics Pvt Ltd
Bk Fac
CARE B+ /A4
2.1
Reaffirmed Mahavir Coal Resources Pvt Ltd
LT Bk Fac
CARE BB
112.5 Assigned Orient Ispat Pvt Ltd
LT Bk Fac@
--
Withdrawn '@based on the credit enhancement in the form of unconditional & irrevocable corporate guarantee provided by P S Steel Tubes Limited (PSSTL), for the bank facilities of Orient IspatPvt Ltd (OIPL). Orient Ispat Pvt Ltd
ST Bk Fac@
--
Withdrawn '@based on the credit enhancement in the form of unconditional & irrevocable corporate guarantee provided by P S Steel Tubes Limited (PSSTL), for the bank facilities of Orient IspatPvt Ltd (OIPL). Orient Ispat Pvt Ltd
LT Bk Fac
CARE BBB
150
Assigned Paradise Properties
LT Bk Fac
CARE BB-
256 Issuer not cooperating Piramal Enterprises Ltd
NCD
CARE AA
1000^ Reaffirmed ^ Rs. 65 crore placed as on October 31, 2017 R.S. Foods
LT Bk Fac
CARE B
80
Assigned Rajhans Metals Pvt Ltd
LT Bk Fac
CARE BB
468.5 Revised from
CARE BB- (reduced from 47.35 CR) Ridhi Sidhi Prime Builders
LT Bk Fac
CARE BB-
100 Issuer not cooperating Sai Overseas
LT Bk Fac
CARE B-
106
Assigned Soni Traders
LT Bk Fac
CARE D
600
Revised from
CARE BB+ Stelis Biopharma Pvt Ltd
LT Bk Fac
--
Withdrawn Thane Ghodbunder Toll Road Pvt Ltd
LT Bk Fac
CARE BBB-
733.6 Reaffirmed (reduced from 110.63 CR) Tulip Tea Co. Ltd
LT Bk Fac
CARE BB-
90
Assigned Veepee Cotex Corporation
LT Bk Fac
CARE B
59.1
Assigned -------------------------------------------------------------------------------------------- $: 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.