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CARE ratings for Indian debt instruments-Nov 15

Kitco News

Nov 15 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of November 14, 2017.


COMPANY INSTRUMENT RATING AMOUNT MOVEMENT

(RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- Abhirajengicon Pvt Ltd ST Bk Fac CARE A4 25 Reaffirmed Gee Geeagrotech ST Bk Fac CARE A4 5 Assigned Jindal Stainless (Hisar) Ltd ST Bk Fac (Non-FB) CARE A2 30550 Revised from

CARE A3 (reduced from 3,180.00crs) L&T Finance Holdings Ltd CP CARE A1+ 15000 Reaffirmed Navdurga Rice Mill ST Bk Fac CARE A4 15 Reaffirmed (enhanced from 0.24crs) Omega Traexim Inc. ST Bk Fac CARE A4 500 Assigned Sakku Spinning Mills Pvt Ltd LT/ST Bk Fac CARE A4 1160 Issuer Not

Cooperating Super Spinning Mills Ltd ST Bk Fac CARE A4 484 Revised from

CARE A4+ Systems And Components India Pvt Ltd ST Bk Fac CARE A4 97.5 Assigned Tokai Engineering Pvt Ltd ST Bk Fac CARE A4 10 Assigned Vardhman Udhyog ST Bk Fac - - Withdrawn Walchandnagar Industries Ltd ST Bk Fac CARE D 6450 Review (reduced from 1032.00crs)


LONG TERM RATINGS: ------------------- Abhirajengicon Pvt Ltd LT Bk Fac CARE BB- 67.5 Reaffirmed Agrasen Iron And Steel Pvt Ltd LT Bk Fac CARE BB+ 140 Assigned (enhanced from Rs.25.00crs) Atria Brindavan Power Pvt Ltd LT Bk Fac CARE BBB- (SO) 696 Revised from

CARE BB+(SO) (reduced from Rs.71.61 crore) Avp Powerinfrapvt Ltd LT Bk Fac - TL CARE BBB 1406.8 Assigned Avp Powerinfrapvt Ltd LT Bk Fac - CC CARE BBB 90 Assigned Axiscades Engineering Technologies LtdLT Bk Fac CARE BBB+ 18.7 # Axiscades Engineering Technologies LtdLT/ ST Bk Fac CARE BBB+/A3+ 350 # Badoni Power Pvt Ltd LT Bk Fac - TL CARE BBB 1525 Assigned Badoni Power Pvt Ltd LT Bk Fac - CC CARE BBB 90 Assigned Fagne Tarsod Corridor Pvt Ltd LT Bk Fac ProvCARE BBB 3343.3 Assigned

(SO) G. D. Knit Tex LT Bk Fac - - Withdrawn Gee Geeagrotech LT Bk Fac CARE BB- 110 Assigned Gujarat Credo Alumina Chemicals Pvt LT Bk Fac CARE BBB- 1750 Assigned Ltd Hettich India Pvt Ltd Issuer Rating CARE AA- (Is) - Assigned Idbi Asset Management Co. Ltd lDBI Ultra ST Fund CARE AAAmfs - Revised from

CARE AA-mfs Il&Fs Renewable Energy Ltd ST Bk Fac@ - - withdrawn @ IL&FS Energy Development Company Ltd. (rated CARE A+;'Stable') has extended an unconditional and irrevocable Corporate Guarantee to IL&FS Renewable Energy Indian Microfinance Loan Receivables Series A PTCs CARE AA (SO) - Assigned Trust July 2017 (Originator: Bharat Financial Inclusion Ltd) Ineos Styrolution India Ltd LT/ST Bk Fac CARE AA+ /CARE 1774 Reaffirmed

A1+ Jindal Stainless (Hisar) Ltd LT Bk Fac (TL) CARE BBB+ 25470 Revised from

CARE BBB- (reduced from 2,600.00crs) Jindal Stainless (Hisar) Ltd LT Bk Fac (FB) CARE BBB+ 7700 Revised from

CARE BBB- Jorabatshillong Expressway Ltd. Proposed NCDs ProvCARE AAA 8900 Assigned

(NCDs) (SO) Laxmi India Finleasecap Pvt. Ltd. LT Bk Fac CARE BB+ 100 Reaffirmed Macaw Ifmr Capital 2017 (Originator: Series A1 PTCs# CARE A (SO) - Assigned Annapurna Microfinance Pvt Ltd) #Series A1 and A2 PTCs are rated on ultimate payment basis Macaw Ifmr Capital 2017 (Originator: Series A2 PTCs# CARE BBB (SO) - Assigned Annapurna Microfinance Pvt Ltd) #Series A1 and A2 PTCs are rated on ultimate payment basis Navdurga Rice Mill Long- term Bk Fac CARE BB 70 Reaffirmed Omega Traexim Inc. LT Bk Fac CARE BB- 500 Assigned Pl Engineering Ltd LT/ ST Bk Fac - - Withdrawn Ranergy Solutions Pvt Ltd LT Bk Fac CARE B+ 127.8 Assigned Reliance Broadcast Network Ltd Proposed LT ProvCARE 1800 Assigned

NonConvertible AA+(SO)

Debentures (NCD) S.D. Corporation Pvt Ltd. NCDs (NCD)^ CARE AA+ (SO) 2000 Assigned ^ credit enhancement in the form of a unconditional, irrevocable and revolving DSRA Guarantee provided by Shapoorji Pallonji and Company Private Ltd (SPCPL, rated CARE AA+, Stable) Sakku Spinning Mills Pvt Ltd LT Bk Fac CARE BB- 581.8 Issuer Not

Cooperating Shubham Propmart Pvt Ltd LT Bk Fac CARE B 98.1 Assigned Super Spinning Mills Ltd LT Bk Fac CARE BB 283.2 Revised from

CARE BB+ (reduced from 41.16CRS) Super Spinning Mills Ltd Long/ST Bk Fac CARE BB /CARE 632.1 Revised from

A4 CARE BB+/

CARE A4+ (reduced from 66.88crs) Systems And Components India Pvt Ltd LT Bk Fac CARE BB 65 Assigned Tokai Engineering Pvt Ltd LT Bk Fac CARE B- 70 Assigned Umesh Industries Pvt Ltd LT Bk Fac CARE B+ 87.8 Reaffirmed (Reduced from 9.17crs) Universal Polysack (India) Pvt Ltd LT Bk Fac CARE B 92 Reaffirmed Vardhman Udhyog LT Bk Fac - - Withdrawn Vidhya Cylinders Priavate Ltd LT Bk Fac CARE BB- 20 Reaffirmed Vidhya Cylinders Priavate Ltd LT/Shortterm Bk FacCARE BB- /CARE 40 Reaffirmed

A4 Wadhawan Global Capital Pvt Ltd. NCD ProvCARE AA- 5000 Revised from

CARE AA- Walchandnagar Industries Ltd LT Bk Fac (TL)* - - withdrawn *CARE has withdrawn the outstanding ratings of CARE D [Single D] assigned to the term loans of the long term bank facilitiesof Walchandnagar Industries Limited with immediate effect. The above action has been taken at the request of Walchandnagar Industries Limited and No Objection Certificate received from the bank(s) that have extended the facilities rated by CARE. Walchandnagar Industries Ltd LT Bk Fac (Fund CARE D 2200 Review

Based) (reduced from 290.00crs) -------------------------------------------------------------------------------------------- $: 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)


Keywords: CARE RATINGS/

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