Mar 31 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of March 30, 2017. COMPANY
INSTRUMENT
RATING
AMOUNT MOVEMENT
(RS.MLN) -------
----------
------
------- --------- SHORT TERM RATINGS: ------------------- Adcc Infocad Ltd
ST Bk Fac
CARE A3
600
Revised from
CARE A3+ (enhanced from Rs.55.00crs) Balaji Multiflex Pvt Ltd
ST Bk Fac
CARE A1+
17
Reaffirmed Balaram Papers Pvt Ltd
ST Bk Fac
CARE A4
7
Assigned Baroda Equipments And Vessels Pvt Ltd ST Bk Fac
CARE A4
42
Issuer not
cooperating Bebitz Flanges Works Pvt. Ltd
ST Bk Fac
CARE A2
70
Revised from
CARE A2+ Brintons Carpets Asia Pvt Ltd
ST Bk Fac
CARE A1
10
Reaffirmed C.R.I Pumps Pvt Ltd
Proposed CP Issue CARE A1+
200
Reaffirmed City Lifeline Travel Pvt Ltd
ST Bk Fac
CARE A3
100
Reaffirmed (reduced from 12.64crs ) Cold Steel Corporation
ST Bk Fac
CARE A4
30.5
Reaffirmed Elkay Telelinks Ltd
ST Bk Fac
CARE A3
15
Reaffirmed Ess Dee Aluminum Ltd
ST Bk Fac
CARE D
3350
Issuer not
(Non-fund based)
cooperating Fatehpuria Transformers And SwitchgearST Bk Fac
CARE A4
400
Reaffirmed Pvt Ltd Gujarat Infrapipes Pvt Ltd
ST Bk Fac
CARE A4
389
Revised from
CARE A3 Ifci Ltd
ST Instruments - CPCARE A1+
5000
Reaffirmed Industrial Perforation India Pvt Ltd ST Bk Fac
CARE A4
100
Issuer not
cooperating Malwa Strips Pvt Ltd
ST Bk Fac
CARE A4
32.5
Assigned Pawar Electro Systems Pvt Ltd
ST non-fundbased CARE D
555
Issuer not
cooperating Ramky Enviro Engineers Ltd
ST Bk Fac
CARE A3
1500
Reaffirmed Rathi Hatcheries Pvt Ltd
ST Bk Fac
CARE A4
16
Assigned Recliners India Pvt Ltd
ST Bk Fac
CARE A3
55
Reaffirmed (Enhanced from 4.50crs ) Shah Concast Pvt Ltd
ST Bk Fac
CARE A4
105
Reaffirmed Skp Bearing Industries
ST Bk Fac
CARE A3
10
Reaffirmed Swastik Copper Pvt Ltd
ST Bk Fac
CARE A4
400
Reaffirmed Valiant Glass Works Pvt Ltd
ST Non-FB Fac -
CARE A3
50
Reaffirmed
LC/BG LONG TERM RATINGS: ------------------- Adcc Infocad Ltd
LT Bk Fac
CARE BBB-
814
Revised from
CARE BBB (enhanced from Rs.61.70crs) Ashish Impex
LT Bk Fac
CARE BB
120
Assigned Asian Roller Bearings
Long-erm Bk Fac
CARE BBB+(SO) 50
Issuer not
cooperating Associated Broadcasting Company Pvt LT Bk Fac
CARE BBB-
230
Reaffirmed Ltd (reduced from Rs.28 crore) Bagaria Eduaction Trust
LT Bk Fac
CARE BB+
230.1 Reaffirmed Balaji Multiflex Pvt Ltd
LT Bk Fac
CARE A+
250
Reaffirmed (reduced from Rs.28.63 crores) Balaram Papers Pvt Ltd
LT Bk Fac
CARE B+
90
Assigned Balaram Papers Pvt Ltd
LT Bk Fac/ ST Bk CARE B+ /CARE 40
Assigned
Fac
A4 Baroda Equipments And Vessels Pvt Ltd LT Bk Fac/ ST Bk CARE BB /CARE 55
Issuer not
Fac
A4
cooperating Bebitz Flanges Works Pvt. Ltd
LT Bk Fac
CARE BBB
749
Revised from
CARE BBB+ Binayak Tex Processors Ltd
Long/ST Bk Fac - CARE BBB-
420
Reaffirmed
FDBP/FUDBP
/CARE A3 Brintons Carpets Asia Pvt Ltd
LT/ ST Bk Fac
CARE A- /CARE 140
Reaffirmed
A1 City Lifeline Travel Pvt Ltd
LT Bk Fac
CARE BBB-
50
Reaffirmed (enhanced from 2.36crs ) Cold Steel Corporation
LT Bk Fac
CARE BB
55
Reaffirmed Ds Toll Road Ltd
LT Bk Fac - TL
CARE BBB+
3119.1 Reaffirmed Eefco Metals & Powders Pvt Ltd
LT Bk Fac
CARE BB
78.6
Issuer not
cooperating Elkay Telelinks Ltd
LT Bk Fac
CARE BBB-
80.6
Reaffirmed Elkay Telelinks Ltd
LT/ ST Bk Fac
CARE BBB-
210
Reaffirmed
/CARE A3 Eses Commercials Pvt. Ltd
Bk Fac-Fund basedTLCARE BBB-(SO)* 200
Reaffirmed
* rating is based on the credit enhancement in the form of letter of comfort provided by the promoter of Future Group for the sanctioned facilities. Eses Commercials Pvt. Ltd
Bk Fac-Fund
CARE BBB-(SO)* 300
Reaffirmed
basedWorking
Capital TL
* rating is based on the credit enhancement in the form of letter of comfort provided by the promoter of Future Group for the sanctioned facilities. Ess Dee Aluminum Ltd
LT Bk Fac (FB)
CARE D
1800
Issuer not
cooperating Ess Dee Aluminum Ltd
LT Nonconvertible CARE D
300
Issuer not
Debenture
cooperating Fatehpuria Transformers And SwitchgearLT Bk Fac
CARE BB-
110
Reaffirmed Pvt Ltd Future Enterprises Ltd.
LT NCDs
CARE AA-
6500
Assigned Future Enterprises Ltd.
LT NCDs- III
CARE AA-
8500
Assigned Gbr Metals Pvt. Ltd.
LT Bk Fac
CARE BB+
36
Reaffirmed (Reduced from 5.55crs) Gbr Metals Pvt. Ltd.
LT/ST Bk Fac
CARE BB+ /CARE 450
Reaffirmed
A4+ (Enhanced from 40.00crs) Gujarat Infrapipes Pvt Ltd
LT Bk Fac
CARE BB
14.9
Revised from
CARE BBB- Gujarat Infrapipes Pvt Ltd
LT /ST Bk Fac
CARE BB /CARE 230
Revised from
A4
CARE BBB-
/CARE A3 Gupta Promoters Pvt Ltd
LT Bk Fac
CARE BB+
70
Reaffirmed Ifci Ltd
LT Bk Fac
CARE A
78250 Revised from
CARE A+ Ifci Ltd
LT Instruments
CARE A
26550 Revised from
CARE A+ Ifci Ltd
Subordinated Bonds CARE A-
10450 Revised from
CARE A Ifci Ltd
NCD (NCD) issue* CARE AA- (SO) 5750
Revised from
CARE AA (SO) *based on credit enhancement in the form of lien of Special Government security (G-sec) in favor of trustee such that the total lien amount is at least 70% of the total liability on the NCD and supplemented by a structured payment mechanism (SPM) Industrial Perforation India Pvt Ltd LT Bk Fac
CARE B
30
Issuer not
cooperating Itnl Road Infrastructure Development LT FB Bk Fac - TL CARE BBB-
918
Reaffirmed Co. Ltd (reduced from 125.43crs) J. K. Ceramics Pvt Ltd
LT Bk Fac
CARE BB-
150
Revised from
CARE B+ (Reduced from 16.60crs) Madhuram Industries Pvt Ltd
LT Bk Fac
CARE B+
142.2 Issuer not
cooperating Magus Bengal Estates Llp
LT Bk Fac
CARE BB+
1800
Revised from
CARE BBB- Malwa Strips Pvt Ltd
LT Bk Fac
CARE BB-
60
Assigned Mumbai Waste Management Ltd
LT Bk Fac
CARE BBB
818.5 Revised from
CARE BBB- Mumbai Waste Management Ltd
LT/ST Bk Fac
CARE BBB /CARE 25
Reaffirmed /
A3
Revised from
CARE BBB-/CAREA3 Pawar Electro Systems Pvt Ltd
LT Bk Fac
CARE D
498.9 Issuer not
cooperating Printwell Offset
LT Bk Fac
CARE B+
57
Revised from
CARE B R.K. Infracorp Pvt Ltd
LT Bk Fac
CARE BBB
280
Reaffirmed R.K. Infracorp Pvt Ltd
LT/ ST Bk Fac
CARE BBB /CARE 1000
Reaffirmed
A3+ (enhanced from 72.00crs) Ramky Enviro Engineers Ltd
LT Bk Fac
CARE BBB-
2803.9 Reaffirmed Rathi Hatcheries Pvt Ltd
LT Bk Fac
CARE B+
117.7 Assigned Rathi Industrial Corporation Pvt. Ltd.LT/ Shortterm Bk CARE BB /CARE 310
Reaffirmed
Fac
A4 Recliners India Pvt Ltd
LT Bk Fac
CARE BBB-
126
Reaffirmed (Enhanced from 10.45crs ) Recliners India Pvt Ltd
LT/ST Bk Fac
CARE BBB-
14
Reaffirmed
/CARE A3 (Enhanced from 1.00 crs) Regalliaa Buildtech & Services Pvt LtdLT Bk Fac- LRD Loan-
-
Withdrawn Rukmani Power & Steel Pvt. Ltd.
LT Bk Fac
CARE BB+
80
Assigned Sak Buildtech Pvt Ltd
LT Bk Fac
CARE BB-
250
Assigned Segno Ceramics Pvt Ltd
LT Bk Fac
CARE BB-
359.1 Assigned Shah Concast Pvt Ltd
LT Bk Fac
CARE B+
102
Reaffirmed Signet Industries Ltd
LT Bk Fac
CARE BBB
1513.9 Issuer not
cooperating Signet Industries Ltd
LT/ST Bk Fac
CARE BBB /CARE 2100
Issuer not
A3+
cooperating Skp Bearing Industries
LT Bk Fac
CARE BBB-
48.1
Reaffirmed Skp Bearing Industries
LT Bk Fac/ ST Bk CARE BBB-
40
Reaffirmed
Fac
/CARE A3 Super Fine Bleaching Co. Ltd
LT Bk Fac
CARE BB
89.6
Issuer not
cooperating Susheela Texfab Pvt Ltd
LT Bk Fac
CARE BB-
192.8 Reaffirmed Swastik Copper Pvt Ltd
LT Bk Fac
CARE B+
200
Reaffirmed Taquito Lease Operators Pvt. Ltd.
LT Bk Fac @
CARE A- (SO) 3049.6 Reaffirmed enhanced from Rs.122.48 crs)/ @ The above rating is based on credit enhancement in the form of Tripartite agreement between Future Retail (NS:FURE) Ltd. (FRL, rated CARE AA- (Stbale)/ CARE A1+), Taquito Lease Operators Pvt. Ltd. (TLO) and TLO's lender wherein FRL has given an unconditional undertaking that it shall continue to make payment of monthly lease rentals to TLO until the term loan of TLO is repaid in full irrespective of usage of the assets leased by TLO to FRL. The rating also factors in the personal guarantee provided by Mr. Kishore Biyani and Mr. Vijay Biyani. Thiruvananthapuram Road Development CoLT Bk Fac - TL
CARE BBB+
711.3 Reaffirmed Ltd (reduced from 91.41crs) Three Brothers Flour And General MillsLT Bk Fac
CARE BB-
50
Issuer not
cooperating Transcon Sheth Creators Pvt Ltd
LT Bk Fac (FB)
CARE BBB-
2500
Assigned Uniworld Sugars Pvt Ltd
LT Bk Fac
CARE D
600
Revised from
CARE B (reduced from 75CRS) Valiant Glass Works Pvt Ltd
LT Bk Fac - TL
CARE BBB-
7
Reaffirmed Valiant Glass Works Pvt Ltd
Long/ST FB Fac - CARE BBB-
850
Reaffirmed
PSC/EPC
/CARE A3 -------------------------------------------------------------------------------------------- $: 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.