Dec 12 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 11, 2018.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------- ---------- ------ ------- ---------
SHORT TERM RATINGS:
-------------------
Accent Microcell Pvt Ltd ST Bk Fac CARE A3 105 Reaffirmed
(enhanced from 7.50 Crore)
Aditya Medisales Ltd Proposed CP* CARE A1+(SO) 5000 Assigned
*to be backed by credit enhancement in the form of unconditional and irrevocable corporate
guarantee by Shanghvi Finance Private Limited (SFPL, guarantor).
Ahw Steels Pvt Ltd ST Bk Fac CARE A3 50 Reaffirmed
Avon Meters Pvt Ltd ST Bk Fac - - Withdrawn
Bhagat Jee Steels Pvt Ltd ST Bk Fac CARE A4 5.7 -
Issuer Not Cooperating;Based on best available information
Flora O Food ST Bk Fac CARE A4 150 Reaffirmed
Kissandhan Agri Financial Services PvtFB - ST-TL CARE A2+ 300 Reaffirmed
Ltd
Kissandhan Agri Financial Services PvtCP CARE A2+ 500 Reaffirmed
Ltd
Lantec Technologies ST Bk Fac CARE A4 6 Assigned
M.G Hussain ST Bk Fac CARE A4 25 -
Issuer Not Cooperating, basedon best available information
Mahendra Sponge And Power Ltd ST Bk Fac CARE A3 400
Revised from CARE A3; Issuer Not Cooperating
Nacl Industries Ltd ST Bk Fac CARE A2 1130 Reaffirmed
Nandini Enterprises ST Bk Fac CARE A4 100 Assigned
Navgrah Fastners Pvt Ltd ST Bk Fac - - Withdrawn
Pavansut Paper Mill Pvt Ltd ST Bk Fac CARE A4 7 -
Issuer Not Cooperating; Based on best available information
Philip D’Costa & Co ST Bk Fac CARE A4 40 -
Issuer Not Cooperating, Based on best available information
Rajasthan Antibiotics Ltd ST Bk Fac - - Withdrawn
S. D. Corporation Pvt Ltd CP# CARE A1+(SO) 11700 Reaffirmed
#credit enhancement in the form of an unconditional, irrevocable and revolving Corporate
Guarantee provided by SPCPL
Shanthi Feeds Pvt Ltd ST Bk Fac CARE A2 545 Reaffirmed
(reduced from 72.25 Crore)
Shree Ram Fibres India Pvt Ltd ST Bk Fac CARE A4 30 Reaffirmed
Slcm Ltd ST Bk Fac CARE A2+ 132# Reaffirmed
#Rupees equivalent of USD 2 Mn
Sri Chitra Agri Exports ST Bk Fac CARE A4 140
Issuer Not Cooperating; Based on best available information
The Anup Engineering Ltd ST BkFac CARE A1+ 150 Reaffirmed
Up Alums Pvt Ltd ST Bk Fac CARE A4 55 -
Issuer Not Cooperating; Based on best available information
LONG TERM RATINGS:
-------------------
Accent Microcell Pvt Ltd LT Bk Fac CARE BBB- 107.6 Reaffirmed
(reduced from 13.74 Crore)
Accent Microcell Pvt Ltd LT/ ST Bk Fac CARE BBB-/A3 112.5 Reaffirmed
Ahw Steels Pvt Ltd LT Bk Fac CARE BBB- 750 Reaffirmed
Animesh Ispat Pvt Ltd LT Bk Fac CARE BBB- 125
Revised from CARE BBB-; Stable; Issuer Not Cooperating; (reduced from 20.00 Crore)
Aqua Designs (India) Pvt Ltd LT Bk Fac CARE D 630 -
Issuer Not Cooperating; Revised from CARE BB+; on the basis of best available information.
Aqua Designs (India) Pvt Ltd LT/ST Bk Fac CARE D/D 870 -
Issuer Not Cooperating; Revised from CARE BB+; Stable/ CARE A4 on the basis of best available
information.
Avon Meters Pvt Ltd LT Bk Fac - - Withdrawn
Bansal Pathways (Mangawan-Chakghat) PvLT Bk Fac CARE BBB (SO) 3505 Assigned
Ltd
Bhagat Jee Steels Pvt Ltd LT Bk Fac CARE B 161.5 -
Issuer Not Cooperating;Based on best available information
Dtmg Packaging Pvt Ltd Long- term Bk Fac CARE D 62 Assigned
Esco Couplings & Transmissions Pvt LtdLT Bk Fac CARE BB+ 24.2 Assigned
Esco Couplings & Transmissions Pvt LtdLT /ST Bk Fac CARE BB+/A4+ 15 Assigned
Flora O Food LT Bk Fac CARE BB- 40 Reaffirmed
Gopalpur Ports Ltd Fund Based Bk Fac- CARE AA-(SO) 14000
LT TL
Revised from CARE AA(SO) and placed under credit and placed under credit; (CLC^/ LOU^ sublimit
of 600.00 Crore); Under credit watch with developing implicat
Gopalpur Ports Ltd Non Fund Based CARE AA-(SO) 500
BkFac – BG
Revised from CARE AA(SO); Under credit watch with developing implications; Facilities is backed
by a Letter of Comfort from Shapoorji Pallonji and Company
Gopalpur Ports Ltd Fund Based – CARE AA-(SO) 250
CCLimits
Under credit watch with developing implications; Facilities is backed by a Letter of Comfort
from Shapoorji Pallonji and Company Private Limited (SPCPL, rated CARE AA; under credit watch
with developing implications/ CARE A1+)
Gopalpur Ports Ltd LER* Limit - LT CARE AA-(SO) 250 -
(Derivative)
Facility
*Loan Equivalent Risk.Facilities is backed by a Letter of Comfort from Shapoorji Pallonji and
Company Private Limited (SPCPL, rated CARE AA; under credit watch with developing implications/
CARE A1+)
Govindam Projects Pvt Ltd LT Bk Fac CARE BB- 100
Revised from CARE B
Gowtham Cements Pvt Ltd LT Bk Fac CARE B 19.8 Assigned
Greater Visakhapatnam Municipal Proposed Bond IssueCARE AA (SO) 1000 Assigned
Corporation
High Point Properties Pvt Ltd NCD^ CARE AA (SO) 2250
Rating Action: CARE AA+ (SO) and placed under credit watch with developing implications; ^credit
enhancement in the form of Unconditional, Irrevocable and revolving Debt Service Reserve Account
(DSRA) guarantee from Shapoorji Pallonji and Company Private Limited (SPCPL, rated: CARE AA;
Credit Watch with developing implications/CARE A1+)
Icici Prudential Mutual Fund - Icici Close – Ended - - Withdrawn
Prudential Capital Protection OrientedCapital Protection
Fund Vii Plan B Oriented Fund
Icici Prudential Mutual Fund - Icici Close – Ended - - Withdrawn
Prudential Capital Protection OrientedCapital Protection
Fund Vii Plan C Oriented Fund
Icici Prudential Mutual Fund - Icici Close – Ended - - Withdrawn
Prudential Capital Protection OrientedCapital Protection
Fund Vii Plan D Oriented Fund
Ihhr Hospitality Andhra Pvt Ltd LT Bk Fac- TL CARE BBB (SO) 670 Reaffirmed
Ihhr Hospitality Andhra Pvt Ltd LT Bk Fac- Bk CARE BBB (SO) 30 Reaffirmed
Overdraft
Kanha Exim LT Bk Fac CARE BB 160 -
Issuer Not Cooperating; Revised from CARE BB+; Based on best available Information
Kissandhan Agri Financial Services PvtLT Bk Fac – CC CARE A- 800 Reaffirmed
Ltd
Kissandhan Agri Financial Services PvtNCDs CARE A- 300* Assigned
Ltd
*Rupees equivalent of USD 4 Mn
Kissandhan Agri Financial Services PvtLong/ST BkFac CARE A-/A2+ 900 Reaffirmed
Ltd
Lambda Content India P Ltd Proposed NCDs – - - Withdrawn^
II(ISIN –INE122Y08027)
^ The proposed NCD () has been withdrawn at the request of the company as no funds have been
raised under this NCD.
Lambda Content India P Ltd NCDs – I(ISIN – CARE BBB- 5086 Reaffirmed
INE122Y08019)
Lantec Technologies LT Bk Fac CARE BB+ 92.3 Assigned
M.G Hussain Long -term Bk Fac CARE B+ 48 -
Issuer Not Cooperating, basedon best available information
M.S. Reddy Long -term Bk Fac CARE B+ 74 -
Issuer Not Cooperating, based on best available information
Mahendra Sponge And Power Ltd LT Bk Fac CARE BBB 561.6
Revised from CARE BBB-; Stable; Issuer Not Cooperating; (reduced from 59.35 Crore)
Mahendra Sponge And Power Ltd Long /ST Bk Fac CARE BBB/CARE 100
A3
Revised from CARE BBB-; Stable/CARE A3; Issuer Not Cooperating
Mahendra Strips Pvt Ltd LT Bk Fac CARE BBB 50
Revised from CARE BBB-; Stable; Issuer Not Cooperating; (reduced from 10.00 Crore)
Manchukonda Prakasham Industries IndiaLT Bk Fac CARE A 50 Reaffirmed
Pvt Ltd
Manchukonda Prakasham Industries IndiaLong/ST BkFac CARE A/A1 250 Reaffirmed
Pvt Ltd
Matilal & Gouri & Storage Pvt. Ltd LT Bk Fac CARE B+ 50 Assigned
Maxtar Bio Genics LT Bk Fac CARE B+ 100 -
Issuer Not Cooperating; Based on best available information
Nacl Industries Ltd LT Bk Fac CARE A- 2245 Reaffirmed
Nandini Enterprises LT Bk Fac CARE B+ 35 Assigned
Navgrah Fastners Pvt Ltd LT Bk Fac - - Withdrawn
North End Foods Marketing Pvt. Ltd LT Bk Fac CARE A- 375 Reaffirmed
North End Foods Marketing Pvt. Ltd Long/ST BkFac CARE A-/A2+ 1925 Reaffirmed
Patel Infrastructure Ltd LT BkFac CARE A 1500
Reaffirmed Outlook revised from Stable to Negative
Patel Infrastructure Ltd Long/STBk Fac CARE A/A1 7500
Reaffirmed Outlook revised from Stable to Negative
Patil And Company LT BkFac CARE BB 100
Revised from CARE B
Patil And Company Long/ ST Bk Fac CARE BB/A4 70
Revised from CARE B /CARE A4
Pavansut Paper Mill Pvt Ltd LT Bk Fac CARE B 112.4 -
Issuer Not Cooperating; Based on best available information
Philip D’Costa & Co Long -term Bk Fac CARE BB- 40 -
Issuer Not Cooperating, Based on best available information
Pnp Maritime Services Pvt Ltd LT Bk Fac^ CARE AA- (SO) 1112
Revised from CARE AA(SO); and placed under credit watch with developing implications; ^credit
enhancement in the form of unconditional and irrevocable corporate guarantee from Shapoorji
Pallonji and Company Private Limited (SPCPL, rated CARE AA; under credit watch with developing
implications/ CARE A1+) for maintaining revolving Debt Service Reserve Account (DSRA) for an
amount payable towards one quarter interest and one quarter principal for immediately succeeding
quarter during the tenure of the facility.
Prateek Industries LT Bk Fac CARE B 97 Assigned
Rajasthan Antibiotics Ltd LT Bk Fac - - Withdrawn
Rohtas Fasteners Pvt Ltd LT Bk Fac CARE BBB- 55.8 -
Issuer Not Cooperating; Based on best available information
S. D. Corporation Pvt Ltd NCD^ CARE AA (SO) 15050
Revised from CARE AA+ (SO) and placed under credit watch with developing implications; ^credit
enhancement in the form of Unconditional Irrevocable and revo
Sd Svp Nagar Redevelopment Pvt Ltd NCDs^ CARE AA (SO) 750
CARE AA+ (SO) and placed under credit watch with developing implications; ^credit enhancement in
the form of unconditional, irrevocable and revolving Debt Service Reserve Account (DSRA)
guarantee from Shapoorji Pallonji and Company Private Limited (SPCPL, rated: CARE AA; Credit
Watch with developing implications/CARE A1+)
Shanghvi Finance Pvt Ltd Issuer Rating* CARE AA+ - Assigned
*subject to the company maintaining overall debt cap of Rs 7250 crore
Shanthi Feeds Pvt Ltd LT Bk Fac CARE A- 1111.2 Reaffirmed
(enhanced from 91.38 Crore)
Shapoorji Pallonji Forbes Shipping LtdLT BkFac (TL) CARE AA-(SO) 1747^
Revised from CARE AA(SO); and placed under credit watch with developing implications; ^credit
enhancement in the form of unconditional and irrevocable Debt Service Reserve Account (DSRA)
guarantee from Shapoorji Pallonji and Company Private Limited (SPCPL, rated: CARE AA; Credit
Watch with developing implications/CARE A1+) for maintenance of debt service reserve equivalent
to next installment of scheduled principal and interest amount throughout the tenure of the
facility.
Shree Ram Fibres India Pvt Ltd LT Bk Fac CARE BB 158.9
Revised from CARE BB-
Sohan Lal Commodity Management Pvt LtdLong/ST BkFac CARE A-/A2+ 150 Reaffirmed
Sp Imperial Star Pvt Ltd NCD- “Series B” CARE AA (SO) 500
issue*
Revised from CARE AA+ (SO) and placed under credit watch with developing implications; * credit
enhancement in the form of unconditional and irrevocable DSRA guarantee from Shapoorji Pallonji
and Company Private Limited (SPCPL, rated: CARE AA; Credit Watch with developing
implications/CARE A1+)
Sri Rama Marketing LT Bk Fac CARE BB 150 -
Issuer Not Cooperating; based on best available information
Sri Srinivasa Agro Rice Industries Long -term Bk Fac CARE B+ 120 -
Issuer Not Cooperating, basedon best available information
Sunny View Estates Pvt Ltd NCDs^ CARE AA (SO) 2000
Revised from CARE AA+ (SO) and placed under credit watch with developing implications; ^credit
enhancement in the form of a unconditional, irrevocable and revolving DSRA Guarantee provided by
Shapoorji Pallonji and Company Private Ltd (SPCPL, rated CARE AA; Credit Watch with developing
implications/CARE A1+)
Sunny View Estates Pvt Ltd NCDs^ CARE AA (SO) 1000
Revised from CARE AA+ (SO) and placed under credit watch with developing implications; ^credit
enhancement in the form of a unconditional, irrevocable and revolving DSRA Guarantee provided by
Shapoorji Pallonji and Company Private Ltd (SPCPL, rated CARE AA; Credit Watch with developing
implications/CARE A1+)
Super Ispat (Raipur) Pvt Ltd LT Bk Fac CARE BBB 60
Revised from CARE BBB-; Stable; Issuer Not Cooperating
Suzlon Global Services Ltd LT Bk Fac CARE A 10000 Reaffirmed
(reduced from 1300 Crore)
Suzlon Global Services Ltd LT/ST Bk Fac CARE A/CARE 2500 Reaffirmed
A2+
Talwar Mobiles Pvt Ltd LT Bk Fac CARE BB 250
Issuer Not Cooperating; Based on best available information
The Anup Engineering Ltd LT BkFac CARE A+ 150 Reaffirmed
The Anup Engineering Ltd LT/STBk Fac CARE A+/A1+ 1700 Reaffirmed
(enhanced from Rs.145 Crore)
Thrissur Expressway Ltd LT Bk Fac CARE D 5051.8
Issuer Not Cooperating; Based on best available information
Up Alums Pvt Ltd LT Bk Fac CARE B+ 95 -
Issuer Not Cooperating; Revised from CARE BB-; on the basis of best available information
Vdb Projects Pvt Ltd LT BkFac CARE B+/ 846.5 Reaffirmed
Vdb Projects Pvt Ltd LT/ ShortTerm Bk CARE B+/A4 1040 Reaffirmed
Fac
Vishavkarma Agro Industries LT Bk Fac CARE BB- 97.3 -
Issuer Not Cooperating; Based on best available information
--------------------------------------------------------------------------------------------
$: 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)
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