May 4 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 3, 2012.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------- ---------- ------ ------- ---------
SHORT TERM RATINGS:
-------------------
Future Agrovet Ltd ST Bk Fac# CARE A2 (SO) 150 Credit Watch
#backed by post dated cheque from PRIL
Global Infonet Distribution Pvt Ltd ST Bk Fac CARE A3+ 1370 Assigned
Icici Prudential Mutual Fund ST Bk Facility* CARE A1+ 30000 Assigned
*Facility is extended to 31 debt schemes of ICICI Prudential Mutual Fund
Pantaloon Retail (India) Ltd ST Bk Fac CARE A1+ 5500 Credit Watch
Pantaloon Retail (India) Ltd CP* CARE A1+ 900 Credit Watch
*carved out of working capital limits
Seabase Impex Pvt. Ltd ST Bk Fac@ CARE A2+ (SO) 500 Revised from
CARE A1 (SO)
@ backed by Letter of Comfort (LOC) of Navayuga Engineering Company Ltd (rated CARE A/CARE A1)
Shah Time And Jewels Pvt Ltd ST Bk Fac CARE A4+ 450 Assigned
Sujali Tea & Industries Ltd. ST Bk Fac CARE A4 50 Assigned
LONG TERM RATINGS:
-------------------
Dosa Sava Gadhavi LT Bk Fac CARE BB- 52.3 Assigned
Future Agrovet Ltd LT Bk Fac* CARE A (SO) 350 Credit Watch
*backed by irrevocable corporate guarantee from PRIL
Future Agrovet Ltd LT Bk Fac^ CARE BBB+ (SO) 220 Credit Watch
^backed by Letter of Comfort from PRIL
Future Agrovet Ltd Bk Fac^ CARE BBB+ 20 Credit Watch
(SO) /A2
^backed by Letter of Comfort from PRIL
Future Value Retail Ltd Compulsorily CARE A (SO) 2500 Credit Watch
Convertible
Debentures*
*Investor has put option on Pantaloon Retail (India) Ltd.
Global Infonet Distribution Pvt Ltd Bk Fac CARE BBB+ /A3+ 130 Assigned
Golden Sheet Glass (India) Pvt. Ltd.LT Bk Fac CARE BB- 337.6 Assigned
(Proposed)
IGE (India) Ltd LT Bk Fac* CARE D 550.6 Revised from
CARE BB
*Lease Rentals Discounting Loan
Navayuga Infotech Pvt. Ltd LT Bk Fac@ CARE A- (SO) 850 Revised from
CARE A (SO)
@ backed by Letter of Comfort (LOC) of Navayuga Engineering Company Ltd (rated CARE A/CARE A1)
Navayuga Infotech Pvt. Ltd Bk Fac@ CARE A- (SO)/ 1070 Revised from
A2+(SO) CARE A (SO)
/A1(SO)
@ backed by Letter of Comfort (LOC) of Navayuga Engineering Company Ltd (rated CARE A/CARE A1)
Pantaloon Retail (India) Ltd LT Bk Fac CARE A 23694.8 Credit Watch
Pantaloon Retail (India) Ltd LT NCD CARE A 2500 Credit Watch
Pantaloon Retail (India) Ltd LT NCD CARE A 2000 Credit Watch
Pantaloon Retail (India) Ltd LT NCD CARE A 2250 Credit Watch
Pantaloon Retail (India) Ltd Proposed LT NCD CARE A 2750 Credit Watch
Sasi Anand Spinning Mills (India) LT Bk Fac CARE BB 241.8 Assigned
Pvt Ltd
Sasi Anand Spinning Mills (India) Bk Fac CARE BB /A4+ 22.5 Assigned
Pvt Ltd
Seabase Impex Pvt. Ltd LT Bk Fac@ CARE A- (SO) 900 Revised from
CARE A (SO)
@ backed by Letter of Comfort (LOC) of Navayuga Engineering Company Ltd (rated CARE A/CARE A1)
Sigma Industrial Corporation LT Bk Fac CARE B+ 100 Assigned
Sujali Tea & Industries Ltd. LT Bk Fac CARE BB 123.8 Assigned
Trishul Developers LT Bk Fac CARE BB 100 Assigned
--------------------------------------------------------------------------------------------
$: 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, E-mail at rru.data@reuters.com)Our Standards: The Thomson Reuters Trust Principles.