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CARE ratings for Indian debt instruments-Dec 6

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Dec 6 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of December 5, 2017.


COMPANY INSTRUMENT RATING AMOUNT MOVEMENT

(RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- Allied Engineering Works Pvt Ltd ST Bk Fac CARE A4 150 Assigned Aquatica Frozen Foods Global Pvt Ltd ST Bk Fac CARE A4+ 380 Issuer Not

Cooperating Bell-O-Seal Valves Pvt Ltd ST Bk Fac CARE A4+ 100 Reaffirmed Cholamandalam Investment And Finance CP issue CARE A1+ 60000 Reaffirmed Co. Ltd (enhanced from Rs.5000 crore) Entire Ceramics Ltd ST Bk Fac CARE A4 10 Reaffirmed Five-Star Business Finance Ltd ST Bk Fac CARE A1 300 Assigned Five-Star Business Finance Ltd CP issue CARE A1 250* Revised from

CARE A2+ *Outstanding amount of Rs.25 crore as on December 04, 2017 Friends Timber Pvt Ltd ST Bk Fac CARE A4 162.5 Reaffirmed Genesis Resorts Pvt Ltd. ST Bk Fac CARE D 20 Issuer Not

Cooperating Janki Agro Industries ST Bk Fac CARE A4 4.1 Reaffirmed Jivo Wellness Pvt Ltd ST Bk Fac CARE A3 55 Assigned Kaze Energy Ltd ST Bk Fac CARE A3 2758.2 Assigned Krbl Ltd Proposed CP CARE A1+ 6000 Reaffirmed (enhanced from Rs.500 crore) Manaksia Coated Metals & Industries Short- term Bk Fac CARE A3+ 850 Reaffirmed Ltd Mellcon Engineers Pvt Ltd ST Bk Fac CARE A4 35 Assigned Narayani Ispat Pvt Ltd ST Bk Fac CARE A3 335 Assigned Narayani Steels Ltd ST Bk Fac CARE A3 1000 Assigned Provogue (India) Ltd ST Bk Fac CARE D 304.7 Issuer Not

Cooperating Rajasthan Tube Manufacturing Co. Ltd ST Bk Fac CARE A4 70 Assigned Reliance Ports & Terminals Ltd CP - - Withdrawn Sanghavi Jewel Pvt. Ltd. ST Bk Fac - Non CARE D 10 Revised from

Fund Based CARE A4 Spl Textile ST Bk Facility CARE A4 97.5 Assigned Sri Balaji Tech ST Bk Fac CARE A4 10 Assigned The Kalgidhar Society ST Bk Fac CARE A3 100 Assigned The Kalgidhar Trust ST Bk Fac CARE A3 200 Assigned Trv Global Exports Pvt Ltd ST Bk Fac CARE A4 140 Reaffirmed Vascular Concepts Ltd ST Bk Fac CARE A4+ 60 Revised from

CARE A3 Vishva Electrotech Ltd ST Bk Fac CARE A4 150 Reaffirmed LONG TERM RATINGS: ------------------- Allied Engineering Works Pvt Ltd LT Bk Fac CARE BB- 80 Assigned Aquatica Frozen Foods Global Pvt Ltd LT Bk Fac CARE BB+ 79.1 Issuer Not

Cooperating Arihant Dream Infra Projects Pvt Ltd LT Bk Fac CARE D 149 Issuer Not

Cooperating Asian Star Co. Ltd LT/ST Bk Fac (Fund CARE A- /CARE 11540 Reaffirmed

Based) A2+ Asian Star Jewels Pvt Ltd LT/ST Bk Fac (Fund CARE A- (SO) 430 Reaffirmed

Based) /CARE A2+ (SO) Balaji Industries LT Bk Fac CARE B+ 80 Assigned Bell-O-Seal Valves Pvt Ltd LT Bk Fac CARE BB+ 165 Reaffirmed Brajesh Automobiles Pvt Ltd LT Bk Fac CARE BB+ 245 issuer Not

Cooperating Cherma'S Exquisite Ltd LT Bk Fac CARE B+ 124.1 Revised from

CARE BB- (reduced from 14.50crs) Columbia Asia Hospitals P Ltd. LT Bk Fac CARE BBB 250 Assigned Elaine Dairy Pvt Ltd LT Bk Fac CARE BB 97 Reaffirmed (Enhanced from Rs.5.03crs) Entire Ceramics Ltd LT Bk Fac CARE BB+ 245.2 Reaffirmed (reduced from 29.80crs) Five-Star Business Finance Ltd LT Bk Fac CARE A- 2200 Revised from

CARE BBB+ (reduced from 250.00crs) Five-Star Business Finance Ltd NCD issue CARE A- 750 Revised from

CARE BBB+ Five-Star Business Finance Ltd NCD issue CARE A- 400 Revised from

CARE BBB+ Friends Timber Pvt Ltd Long /ST Bk Fac CARE B+ /CARE 60 Reaffirmed

A4 Gandevikar Jewellers Pvt Ltd LT Bk Fac CARE BBB- 110 Reaffirmed (reduced from 33.00crs) Gandevikar'S Sara Gold Pvt Ltd LT Bk Fac CARE BBB- 150 Reaffirmed Genesis Resorts Pvt Ltd. LT Bk Fac CARE D 1189.1 Issuer Not

Cooperating Gmr Chennai Outer Ring Road Pvt Ltd LT Bk Fac (TL-I)^ CARE BB (SO) 6513.4 Revised from

CARE BBB- (reduced from 662.99crs) ^The facility is backed by unconditional and irrevocable sponsor support extended by GMR Infrastructure Ltd. (GIL) rated CARE BB; Stable/CARE A4 and GMR Highways Limited (GHL) Gmr Chennai Outer Ring Road Pvt Ltd LT Bk Fac (TL-II)@ CARE BB (SO) 555 Revised from

CARE BBB- @ The facility is backed by unconditional and irrevocable corporate guarantee provided by GIL and GHL. Gmr Chennai Outer Ring Road Pvt Ltd LT Bk Fac CARE BB (SO) 260 Revised from

(Non-fund Based) CARE BBB- Goyal Energy & Steel Pvt. Ltd. LT Bk Fac CARE BBB- 914.2 Revised from

CARE BB+ (reduced from 96.50crs) Il&Fs Technologies Ltd LT Bk Fac (FB) CARE A- 530 Revised from

CARE A- (enhanced from 48crs) Il&Fs Technologies Ltd LT Bk Fac CARE A- 1570 Revised from

(Non-fund based) CARE A- (reduced from 162crs) Indorama Industries Ltd LT Bk Fac* CARE A+ (SO) 1340 Assigned *backed by unconditional & irrevocable corporate guarantee provided by Indorama Corporation PTE Ltd., Singapore Ishwarlal Harjivandas Jewellers Pvt LT Bk Fac CARE BB 300 Reaffirmed Ltd (enhanced from Rs. 15.00 crore) Janki Agro Industries LT Bk Fac CARE BB- 163.5 Reaffirmed (reduced from 17.15crs) Jivo Wellness Pvt Ltd LT Bk Fac CARE BBB- 35 Assigned Kamdhenu Enterprise LT Bk Fac CARE B+ 240 Assigned L&T Finance Ltd. Proposed Principal CARE PP-MLD AA+5000 Assigned

protected

Market-linked Debenture Laxmi Oil And Vanaspati Pvt Ltd LT Bk Fac CARE BBB- 400 Assigned Laxmi Traders LT Bk Fac CARE B+ 100 Assigned Lodha Developers Thane Pvt Ltd NCDs@ CARE BBB-(SO) 4950 Final Rating @ Based on the credit enhancement in the form of unconditional and irrevocable corporate guarantee extended by Lodha Developers Private Limited. Madhupriya Fashions Pvt Ltd Long- term Bk Fac CARE B+ 90 Reaffirmed (reduced from 11crs) Madura Micro Finance Ltd LT Bk Fac CARE BBB+ 1000 Reaffirmed Madura Micro Finance Ltd NCD issue CARE BBB+ 400 Reaffirmed Madura Micro Finance Ltd NCD issue CARE BBB+ 330 Assigned

(Proposed) Manaksia Coated Metals & Industries LT Bk Fac CARE BBB+ 905 Reaffirmed Ltd (enhanced from Rs.62.50 crore) Mellcon Engineers Pvt Ltd LT Bk Fac CARE B+ 30 Assigned Narayani Ispat Pvt Ltd LT Bk Fac CARE BBB- 725 Assigned Narayani Steels Ltd LT Bk Fac CARE BBB- 975 Assigned Narmada Fibres Llp LT Bk Fac CARE B+ 150 Assigned Ob Infrastructure Ltd LT Instruments CARE A+ (SO) 2176 Reaffirmed

Nonconvertible

Debentures* (reduced from 253.90crs)* backed by structured payment mechanism for servicing of NCD s. Provogue (India) Ltd LT Bk Fac CARE D 2186.8 Issuer Not

Cooperating Rajasthan Tube Manufacturing Co. Ltd LT Bk Fac CARE B 80 Assigned Rana Oil Industries LT Bk Fac CARE B 150 Revised from

CARE B issuer Not Cooperating Relationship Properties Pvt Ltd LT - NCD - - Withdrawn Reliance Ports & Terminals Ltd NCD CARE AAA 105000 Reaffirmed Ry Midas Alluminiums Pvt Ltd LT Bk Fac/ ST Bk CARE BB- /CARE 290 Reaffirmed

Fac A4 Sagar Fibers Pvt Ltd LT Bk Fac CARE B 70 Revised from

CARE B Issuer not cooperating Saikrupa Cotgin Pvt Ltd LT Bk Fac CARE B+ 183.7 Revised from

CARE BB- (Reduced from Rs.30.50 crore) Saikrupa Fibers Pvt Ltd LT Bk Fac CARE B 163.3 Reaffirmed (reduced from 17.12crs) Sanghavi Jewel Pvt. Ltd. LT Bk Fac - Fund CARE D 850 Revised from

Based CARE B+ Spl Textile LT Bk Facility CARE BB- 1 Assigned Sri Balaji Tech LT Bk Fac CARE B 104 Assigned Sri Balaji Tech LT/ST Bk Fac CARE B /CARE A420 Assigned Sujay Feeds LT Bk Fac CARE B+ 88 Assigned The Kalgidhar Society LT Bk Fac CARE BBB 97.1 Assigned The Kalgidhar Trust LT Bk Fac CARE BBB 121.5 Assigned Thoppil Contractors (India) Pvt Ltd LT Bk Fac CARE BB- 250 Reaffirmed Thoppil Contractors (India) Pvt Ltd LT/ST Bk Fac CARE BB- /CARE 150 Reaffirmed

A4 Tirumala Dall Udyog LT Bk Fac CARE B+ 70 Assigned Trv Global Exports Pvt Ltd LT Bk Fac CARE B 30 Revised from

CARE C Ultra Denim Pvt Ltd LT Bk Fac CARE BBB- 275 Assigned Ultra Denim Pvt Ltd LT/ST Bk Fac CARE BBB- 25 Assigned

/CARE A3 Vascular Concepts Ltd LT Bk Fac CARE BB+ 220 Revised from

CARE BBB- Vishva Electrotech Ltd LT Bk Fac CARE BB- 162.2 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. (Mumbai Rate Reporting Unit + 91 22 6180 7222/3317 7222, E-mail at rru.data@thomsonreuters.com)


Keywords: CARE RATINGS/

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