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Company News

CARE ratings for Indian debt instruments-Dec 28

Dec 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 27, 2011.	
	
	
COMPANY                             INSTRUMENT           RATING        AMOUNT      MOVEMENT	
                                                                       (RS.MLN)	
-------                             ----------           ------        -------     ---------	
SHORT TERM RATINGS:	
-------------------	
A2Z Infraservices Ltd               ST Bk Fac*           CARE A1(SO)    100        Reaffirmed	
* backed by unconditional and irrevocable corporate guarantee provided by A2Z Maintenance &
Engineering Services Ltd. (A2Z)	
A2Z Infrastructure Ltd              ST Bk Fac*           CARE A1(SO)    500        Reaffirmed	
* backed by unconditional and irrevocable corporate guarantee provided by A2Z Maintenance &
Engineering Services Ltd. (A2Z)	
Anjaney Ferro Alloys Ltd            ST Bk Fac            CARE A2        157.5      Upgraded	
                                                                                   from CARE	
                                                                                   A3+	
Asian Star Co Ltd.                  ST Bk Fac            CARE A2+       8800       Reaffirmed	
Bannari Amman Spinning Mills Ltd    ST Bk Fac            CARE A2+       730        Reaffirmed	
Bannari Amman Spinning Mills Ltd    Short-TL             -              -          Withdrawn	
Best It World (India) Pvt Ltd       ST Bk Fac            CARE A2+       550        Reaffirmed	
enhanced from Rs.40 crore	
Conmat Systems Pvt Ltd.             ST Bk Fac            CARE A3        30         Assigned	
Cox & Kings Ltd                     CP*                  CARE A1+       750        Reaffirmed;	
Credit Watch Removed; *Carved out of working capital limits	
Cox & Kings Ltd                     CP                   CARE A1+       2750       Reaffirmed;	
Credit Watch Removed	
Deekay Impex                        ST Bk Fac            CARE A4        120        Assigned	
Deekay Pine Board Pvt. Ltd          ST Bk Fac            CARE A4        80         Assigned	
Diamond Exports                     ST Bk Fac            CARE A3        630        Assigned	
Jain Coal Services                  ST Bk Fac            CARE A4+       25         Suspended	
P S Oil Impex Pvt Ltd               ST Bk Fac - Proposed CARE A4        500        Assigned	
R. P. Vyapaar Pvt. Ltd.             ST Bk Fac*           CARE A1(SO)    38         Assigned	
*backed by irrevocable corporate guarantee of R. P. Infosystems Ltd.	
S.R. Constructions                  ST Bk Fac            CARE A4        350        Assigned	
Sun-N-Sand Hotels Pvt. Ltd.         ST Bk Fac            CARE A1+       15         Revised	
                                                                                   from CARE A1	
Tamil Nadu Civil Supplies           ST Bk Fac            CARE A1+ (SO)  37.5       Withdrawn#	
Corporation	
# Rating withdrawn at the request of the company, as TNCSC has closed the above facility.	
The Sukhjit Starch & Chemicals Ltd  ST Bk Fac            CARE A1        70         Reaffirmed	
The Sukhjit Starch & Chemicals Ltd  CP*                  PR1+           100        Withdrawn	
*carved out of working-capital limits	
	
LONG TERM RATINGS:	
-------------------	
A2Z Infraservices Ltd               LT Bk Fac*           CARE A(SO)     270        Reaffirmed	
* backed by unconditional and irrevocable corporate guarantee provided by A2Z Maintenance &
Engineering Services Ltd. (A2Z)	
A2Z Infrastructure Ltd              LT Bk Fac*           CARE A(SO)     1159       Reaffirmed	
* backed by unconditional and irrevocable corporate guarantee provided by A2Z Maintenance &
Engineering Services Ltd. (A2Z)	
A2Z Waste Management (Aligarh) Pvt  LT Bk Fac*           CARE A(SO)     135        Reaffirmed	
Ltd	
* backed by unconditional and irrevocable corporate guarantee provided by A2Z Maintenance &
Engineering Services Ltd. (A2Z)	
A2Z Waste Management (Meerut) Pvt   LT Bk Fac*           CARE A(SO)     240        Reaffirmed	
Ltd	
* backed by unconditional and irrevocable corporate guarantee provided by A2Z Maintenance &
Engineering Services Ltd. (A2Z)	
A2Z Waste Management (Moradabad)    LT Bk Fac*           CARE A(SO)     135        Reaffirmed	
Pvt Ltd	
* backed by unconditional and irrevocable corporate guarantee provided by A2Z Maintenance &
Engineering Services Ltd. (A2Z)	
A2Z Waste Management (Varanasi) Pvt LT Bk Fac*           CARE A(SO)     240        Reaffirmed	
Ltd	
* backed by unconditional and irrevocable corporate guarantee provided by A2Z Maintenance &
Engineering Services Ltd. (A2Z)	
Allied Perfumers Pvt Ltd            LT Bk Fac            CARE BBB%      1800       Reaffirmed	
Anjaney Ferro Alloys Ltd            LT Bk Fac            CARE A-        165        Upgraded	
                                                                                   from CARE	
                                                                                   BBB+	
Asian Star Co Ltd.                  LT Bk Fac            -              -          Withdrawn	
Bannari Amman Spinning Mills Ltd    LT Bk Fac            CARE A-        3464.5     Reaffirmed	
Bannari Amman Spinning Mills Ltd    Bk Fac               CARE A- /A2+   2900       Reaffirmed	
Best It World (India) Pvt Ltd       LT Bk Fac            CARE BBB+      250        Reaffirmed	
enhanced from Rs.20 crore	
Conmat Systems Pvt Ltd.             LT Bk Fac            CARE BBB-      193.7      Assigned	
Cox & Kings Ltd                     LT Bk Fac            CARE AA%       1200	
Cox & Kings Ltd                     NCD I                CARE AA%       3000	
Cox & Kings Ltd                     NCD II               CARE AA%       5000	
Deekay Impex                        LT Bk Fac            CARE BB-       10         Assigned	
Deekay Pine Board Pvt. Ltd          LT Bk Fac            CARE BB-       25         Assigned	
Diamond Exports                     LT Bk Fac            CARE BBB-      63         Assigned	
Jain Coal Services                  LT Bk Fac            CARE BB+       75         Suspended	
Karnataka State Financial           Unsecured Bonds      CARE AA-(SO)   2230       Reaffirmed	
Corporation	
Kesar Terminals & Infrastructure LtdLT Bk Fac (Term Loan)CARE BBB       53.1       Assigned	
Morbi Polypack Pvt. Ltd             Bk Fac               BB                        Suspended	
Orbit Corporation Ltd               LT Bk Fac            CARE BBB-      1400       Suspended	
P S Oil Impex Pvt Ltd               LT Bk Fac - Proposed CARE BB-       80         Assigned	
Prince Vitrified Pvt. Ltd           LT Bk Fac            CARE D         214        Revised	
                                                                                   from CARE	
                                                                                   BB-	
Prince Vitrified Pvt. Ltd           ST Bk Fac            CARE D         11.2       Revised	
                                                                                   from CARE A4	
R. P. Vyapaar Pvt. Ltd.             LT Bk Fac*           CARE A(SO)     342        Assigned	
*backed by irrevocable corporate guarantee of R. P. Infosystems Ltd.	
Restoration Engineers               Bk Fac               BB+/PR4                   Suspended	
S.R. Constructions                  LT Bk Fac            CARE B+        70         Assigned	
Shivam Export                       Bk Fac               BB+                       Suspended	
Shri Nataraj Ceramic And Chemical   LT Bk Fac            CARE A-        312.8      Reaffirmed	
Industries Ltd	
enhanced from Rs.26.1 crore	
Shri Nataraj Ceramic And Chemical   Bk Fac               CARE A- /A2+   270        Reaffirmed	
Industries Ltd	
enhanced from Rs.22 crore	
Sikkim Ferro Alloys Ltd             LT Bk Fac            CARE BBB-      35         Suspended	
Sikkim Ferro Alloys Ltd             Bk Fac               CARE BBB-/ A3  300        Suspended	
Sun-N-Sand Hotels Pvt. Ltd.         LT Bk Fac            CARE AA-       176.8      Revised	
                                                                                   from CARE A+	
Tamil Nadu Civil Supplies           LT Bk Fac*           CARE A- (SO)   200        Revised	
Corporation                                                                        from CARE A	
                                                                                   (SO)	
* Backed by credit enhancement in the form of unconditional and irrevocable guarantee from
Government of Tamil Nadu (GoTN) vide GO Ms.No.244 Finance (Loans & Advances Cell) Department
dated June 10, 2009 and letter from TNCSC bearing No. ACBF7/90439/07 dated August 31, 2009.	
The Sukhjit Starch & Chemicals Ltd  LT Bk Fac            CARE A+        1090       Reaffirmed	
Trison Impex                        Bk Fac               CARE BB+/ A4+  150        Suspended	
--------------------------------------------------------------------------------------------	
$: 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 6636 9222, E-mail at rru.data@reuters.com)
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