CARE ratings for Indian debt instruments-Sep 5
34
0
Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 4, 2018.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------- ---------- ------ ------- ---------
SHORT TERM RATINGS:
-------------------
A.M. Vinyl Pvt Ltd ST Bk Fac CARE D 135 Revised from
CARE A4+
Bathsha Marine Exports Pvt Ltd ST Bk Fac CARE A4 55 Reaffirmed
Capital First Home Finance Ltd CP CARE A1+ 7000 Reaffirmed
(Enhanced from Rs.400 crore)
Il&Fs Engineering And Construction Co.ST Bk Fac CARE A4 21885.2 Revised from
Ltd CARE A3
Jindal Drilling & Industries Ltd ST Bk Fac CARE A3+ 1000 Revised from
CARE A2+
Mahakali Chandrapur Polytex Pvt Ltd ST Bk Fac CARE A4 5.6 Assigned
Parul Technochem Llp ST Bk Fac CARE A4 90 Assigned
Renew Solar Power Pvt Ltd ST InstrumentsCP CARE A1+(SO) - Final Rating
* The commercial paper issue is backed by unconditional and irrevocable corporate guarantee
provided by Renew Power Limited [RPL (erstwhile Renew Power Ventures Private Limited), rated
CARE A+; Stable/ CARE A1+] and structured payment mechanism
Renew Solar Power Pvt Ltd ST InstrumentsCP CARE A1+(SO) - Reaffirmed
**The commercial paper issue is proposed to be backed by unconditional and irrevocable corporate
guarantee to be provided by RPL and structured payment mechanism. CARE notes that the combined
CP’s raised by RPL and RSPPL will not exceed Rs.525 crore.
Silver Spark Apparels Ltd ST Bk Fac CARE A1 170 Reaffirmed
Smruthi Organics Ltd ST Bk Fac NFB CARE A4 130 Reaffirmed
South Malabar Steels & Alloys Pvt Ltd ST Bk Fac CARE A4 30 Reaffirmed
Superlite Jointings Pvt Ltd ST Bk Fac CARE A4 47 Assigned
Vidhyut Control (India) Pvt Ltd ST Bk Fac CARE A4 40 Assigned
Vision Vidyut Engineers Pvt Ltd ST Bk Fac CARE A4 15 Reaffirmed
Vraj & Vaj Construction ST Bk Fac CARE A4 25 Reaffirmed
(Enhanced from 2.00)
LONG TERM RATINGS:
-------------------
A.M. Vinyl Pvt Ltd LT Bk Fac CARE D 315 Revised from
CARE BB+
Aria Hotels & Consultancy Services PvtLT Bk Fac TL CARE BBB- 5761.4 Reaffirmed
Ltd
(reduced from Rs.578.68 crore)
Aria Hotels & Consultancy Services PvtLT FB CC CARE BBB- 75 Reaffirmed
Ltd
Arisudana Industries Ltd LT Bk Fac CARE BBB+ 628.2 Reaffirmed
Arisudana Industries Ltd LT Bk Fac/ ST Bk CARE BBB+ 500 Assigned
Fac /CARE A2
Ayush Food Product Pvt Ltd LT Bk Fac CARE BB- 118 Assigned
Bathsha Marine Exports Pvt Ltd LT Bk Fac CARE B+ 23.1 Revised from
CARE B
(Reduced from 3.92)
Bhimashankar Agro Coldchain And LT Bk Fac CARE BB- 51.2 Reaffirmed
Processing Producer Co. Ltd
Faze Three Ltd LT Bk Fac/ ST Bk CARE BBB /CARE 820 Revised from
Fac A3+ CARE BBB- /
CARE A3
Il&Fs Engineering And Construction Co.LT Bk Fac CARE BB 9028.1 Revised from
Ltd CARE BBB-
Jindal Drilling & Industries Ltd LT Bk Fac CARE BBB+ 200 Revised from
CARE A-
Kannankandy Fridge Centre LT Bk Fac CARE BB 110 Assigned
Kannankandy Sales Corporation LT Bk Fac CARE BB 190 Assigned
M P S Steels Pvt Ltd LT Bk Fac CARE B+ 91.8 Reaffirmed
(enhanced from 8.51)
Mahakali Chandrapur Polytex Pvt Ltd LT Bk Fac CARE B- 48.6 Assigned
Manoj Vaibhav Gems N Jewellers Pvt LtdLT Bk Fac - - Withdrawn
Manoj Vaibhav Gems N Jewellers Pvt LtdLT Bk Fac/ ST Bk - - Withdrawn
Fac
North Karnataka Expressway Ltd NCD CARE AA+(SO) 445 Revised from
CARE AAA (SO)
(reduced from 61.10)
Parul Technochem Llp LT Bk Fac CARE BB 33.2 Assigned
R. R Business Pvt Ltd LT Bk Fac/ ST Bk CARE BB /CARE 148 Revised from
Fac A4 CARE BB-
Issuer Not Cooperating,(enhanced from Rs.10 crore)
Rds & Sons Pvt Ltd LT Bk Fac CARE B+ 149 Reaffirmed
(enhanced from 6.77)
Reliance Mediaworks Financial ServicesNCD* CARE AA+(SO) 6500 Revised from
Pvt Ltd Provisional
CARE AA+ (SO)
(Credit watch with developing implications)’,*The NCDs are proposed to be backed by credit
enhancement in the form of a Corporate Guarantee issued by Reliance Capital Ltd. (RCL), rated
‘CARE AA+’ (Double A Plus) (Credit watch with developing implications), in favour of the
NCD investors.
Sandhu Farms Pvt Ltd LT Bk Fac CARE D 30.3 Reaffirmed
Seth Construction Company LT Bk Fac/ ST Bk CARE BB+ /CARE 150 Reaffirmed
Fac A4+
Shrine Buildtech Pvt Ltd LT Bk Fac CARE D 400 Revised from
CARE BB
Silver Spark Apparels Ltd LT Bk Fac CARE A 644 Reaffirmed
Silver Spark Apparels Ltd LT Bk Fac/ ST Bk CARE A /CARE A1300 Reaffirmed
Fac
Smruthi Organics Ltd LT Bk Fac FB CARE BB 290 Reaffirmed
(enhanced from Rs.24 crore)
Smruthi Organics Ltd LT Bk Fac TL CARE BB 42.4 Reaffirmed
South Malabar Steels & Alloys Pvt Ltd LT Bk Fac CARE BB 50 Reaffirmed
Sri Ganeshwara Rice Tech LT Bk Fac CARE BB 361.7 Revised from
CARE BB-
(enhanced from Rs 25.05 crore)
Superlite Jointings Pvt Ltd LT Bk Fac CARE BB 53 Assigned
Vidhyut Control (India) Pvt Ltd LT Bk Fac CARE BB 40 Assigned
Vision Vidyut Engineers Pvt Ltd LT Bk Fac CARE B+ 67.1 Reaffirmed
Vraj & Vaj Construction LT Bk Fac CARE B+ 60 Reaffirmed
Wind Urja India Pvt Ltd LT Bk Fac - - Withdrawn
--------------------------------------------------------------------------------------------
$: 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)
Source: in.reuters
