Mar 14 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of March 10, 2017.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------- ---------- ------ ------- ---------
SHORT TERM RATINGS:
-------------------
Adani Agrifresh Ltd ST Bk Fac CARE A3 100 Revised from
CARE A3+
(enhanced from Rs.5 crore)
Ashok Motors ST Bk Fac CARE A4 7 Reaffirmed
Eaststar Manufacturing Syndicate ST Bk Fac CARE A4 14 Issuer Not
Cooperating
Edelweiss Asset Reconstruction Co. LtdCP ProvCARE A1+ 3000 Reaffirmed
(SO) *
*The above rating is backed by an unconditional and irrevocable corporate guarantee issued by
Edelweiss Financial Services Ltd. (EFSL)
Edelweiss Financial Services Ltd CP CARE A1+ 63500 Reaffirmed
Gujrat Saw Mill Short -term Bk Fac CARE A4 60 Reaffirmed
Guru Nanak Auto Enterprises Ltd ST Bk Fac CARE A3 150 Reaffirmed
Idea Cellular Ltd CP (CP) Issue CARE A1+ 20000 #
Infinity Infratech ST Bk Fac CARE A4 6 Reaffirmed
Inframat Alloys Pvt Ltd ST Bk Fac CARE A4+ 10 Reaffirmed
Jpl Industries Ltd Short -Term Bk Fac CARE A4+ 2 Reaffirmed
K. Sevantilal And Company ST Bk Fac CARE A3 191 Reaffirmed
Laxmi Diamond Pvt Ltd ST Bk Fac CARE A2 601.5 Issuer Not
Cooperating
Magma Fincorp Ltd CP issue CARE A1+ 12500 Reaffirmed
Magma Fincorp Ltd CP issue CARE A1+ 7500 Reaffirmed
Manohar Food Industry ST Bk Fac CARE A4 42.5 Issuer Not
Cooperating
Metcon India Realty & Infrastructure ST Bk Fac CARE A4 200 Reaffirmed
Pvt Ltd
Naresh Kumar & Company Pvt Ltd ST Bk Fac CARE A3+ 50 Reaffirmed
Nav Durga Fuel Pvt. Ltd. ST Bk Fac CARE A4 80 Issuer Not
Cooperating
Navbharat Fuse Co. Ltd. ST Bk Fac CARE A4 235 Issuer Not
Cooperating
Pinnacle Teleservices Pvt Ltd ST Bk Fac CARE A4+ 80 Reaffirmed
Pioneer Foods And Agro Industries Pvt ST Bk Fac CARE A4 300 Reaffirmed
Ltd
Precision Metals ST Bk Fac CARE A1+ 110 Reaffirmed
Quality Foods ST Bk Fac CARE A4 50 Reaffirmed
Rajat Agro Commodities Pvt Ltd ST Bk Fac CARE A4 60 Assigned
Setmax Ceramic ST Bk Fac CARE A4 15 Assigned
Sevantilal And Sons ST Bk Fac CARE A3 161 Reaffirmed
Shriram City Union Finance Ltd CP CARE A1+ 20000 Reaffirmed
Swd Industries ST Bk Fac CARE A4 12.1 Reaffirmed
Ulka Sea Foods Pvt Ltd ST Bk Fac CARE A3 500 Reaffirmed
Venus Wire Industries Pvt Ltd ST Bk Fac CARE A1+ 224 Reaffirmed
Vnkc Agrocom Pvt Ltd ST Bk Fac CARE A4+ 40 Reaffirmed
MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd Fixed Deposit CARE AA+ (FD) 100 Reaffirmed
LONG TERM RATINGS:
-------------------
Aashirwad Industries Pvt Ltd LT Bk Fac CARE B 138 Revised from
CARE B+
Adani Agrifresh Ltd LT Bk Fac CARE BBB- 312.7 Revised from
CARE BBB
Adani Agrifresh Ltd LT/ST Bk Fac CARE BBB- 1450 Revised from
/CARE A3 CARE BBB
/CARE A3+
(reduced from Rs.150 crore)
Agarwal Toughened Glass India Pvt Ltd LT Bk Fac CARE B+ 65.5 Reaffirmed
Agro Indus Finance And Leasing India Issuer Rating CARE BB+ (Is) - Reaffirmed
Ltd
Anchor Agritech LT Bk Fac CARE B+ 70 Revised from
CARE BB-
Ashok Motors LT Bk Fac CARE BB- 190 Reaffirmed
Avanse Financial Services Ltd Subordinate Debt CARE AA (SO) 250 Reaffirmed
Avanse Financial Services Ltd LT Bk Fac CARE AA+ (SO) 950 -
Avanse Financial Services Ltd LT Bk Fac CARE AA+ (SO) 5300 Reaffirmed
Avanse Financial Services Ltd Non- Convertible CARE AA+ (SO) 500 -
Debentures
Avanse Financial Services Ltd Non- Convertible CARE AA+ (SO) 700 Reaffirmed
Debentures
Avanse Financial Services Ltd LT Bk Fac ProvCARE AA+ 1190 Reaffirmed
(SO)
Avanse Financial Services Ltd Non- Convertible ProvCARE AA+ 800 Reaffirmed
Debentures (SO)
Cs Performance Chemicals Pvt. Ltd LT Bk Fac CARE BBB+ (SO) 50.2 Reaffirmed
Cs Specialty Chemicals Pvt. Ltd LT Bk Fac/ ST Bk CARE BBB+ 125 Reaffirmed
Fac /CARE A3+
Decimus Financial Ltd LT Bk Fac (FB) – CARE BBB- 200 Withdrawn
Proposed
Dhanalakshmi Textrade India Pvt Ltd LT Bk Fac CARE BB+ 200 Reaffirmed
Dudh Ganga LT Bk Fac CARE BB (SO) 50 Revised from
CARE BB+ (SO)
Eaststar Manufacturing Syndicate LT Bk Fac CARE B+ 65 Issuer Not
Cooperating
Edelweiss Agri Value Chain Ltd NCD CARE AA (SO)* 3300 Reaffirmed
*The above ratings are based on the credit enhancement in the form of unconditional and
irrevocable corporate guarantee issued by Edelweiss Financial Services Limited (EFSL).
Edelweiss Agri Value Chain Ltd LT Bk Fac ProvCARE AA 10000 Reaffirmed
(SO)*
*The above ratings are based on the credit enhancement in the form of unconditional and
irrevocable corporate guarantee issued by Edelweiss Financial Services Limited (EFSL).
Edelweiss Agri Value Chain Ltd NCD ProvCARE AA 1700 Reaffirmed
(SO)*
*The above ratings are based on the credit enhancement in the form of unconditional and
irrevocable corporate guarantee issued by Edelweiss Financial Services Limited (EFSL).
Edelweiss Asset Reconstruction Co. LtdNCD CARE AA- (SO) #300 Reaffirmed
#The above ratings are backed by a letter of comfort issued by Edelweiss Financial Services Ltd.
(EFSL) Details of instruments/facilities in Annexure-1
Edelweiss Asset Reconstruction Co. LtdNCD CARE AA- (SO) #3700 Reaffirmed
#The above ratings are backed by a letter of comfort issued by Edelweiss Financial Services Ltd.
(EFSL) Details of instruments/facilities in Annexure-1
Edelweiss Asset Reconstruction Co. LtdLT Bk Fac CARE AA- (SO) #1800 Reaffirmed
#The above ratings are backed by a letter of comfort issued by Edelweiss Financial Services Ltd.
(EFSL) Details of instruments/facilities in Annexure-1
Edelweiss Asset Reconstruction Co. LtdNCD CARE AA (SO) * 1000 Reaffirmed
*The above rating is backed by an unconditional and irrevocable corporate guarantee issued by
Edelweiss Financial Services Ltd. (EFSL)
Edelweiss Asset Reconstruction Co. LtdPrincipal CARE PP- MLD 2000 Reaffirmed
Protected Market AA (SO)*
Linked Debentures (PP-MLD)
*The above rating is backed by an unconditional and irrevocable corporate guarantee issued by
Edelweiss Financial Services Ltd. (EFSL)
Edelweiss Asset Reconstruction Co. LtdLT Bk Fac ProvCARE AA- 2200 Reaffirmed
(SO) #
#The above ratings are backed by a letter of comfort issued by Edelweiss Financial Services Ltd.
(EFSL) Details of instruments/facilities in Annexure-1
Edelweiss Financial Services Ltd NCD CARE AA 6500 Reaffirmed
Global Denims Pvt Ltd LT Bk Fac CARE B+ 80 Reaffirmed
Gourav Energen India Pvt Ltd LT Bk Fac CARE BB- 55.5 Reaffirmed
Goverdhan Energy And Petrochemicals PvLT Bk Fac CARE BB 81.4 Revised from
Ltd CARE BB-
Goverdhan Energy And Petrochemicals PvLT/ST Bk Fac CARE BB /CARE 30 Revised from
Ltd A4 CARE BB- /
Reaffirmed
Green Pearl Engineering Construction LT Bk Fac CARE BB+ 140 Reaffirmed
Corporation Ltd
Gujrat Saw Mill Long- term Bk Fac CARE B 15 Reaffirmed
Guru Nanak Auto Enterprises Ltd LT Bk Fac CARE BBB- 601 Reaffirmed
(reduced from 63.28)
Gwalior Bypass Project Ltd NCD issue CARE BBB (SO) 1720.3 Revised from
CARE A (SO)
Idea Cellular Ltd LT Bk Fac CARE AA+ 235121 #
Idea Cellular Ltd NCD (NCD) issue CARE AA+ 80000 #
Infinity Infratech LT Bk Fac CARE B+ 49.1 Reaffirmed
Inframat Alloys Pvt Ltd LT Bk Fac CARE BB+ 90 Reaffirmed
Jay Traders LT Bk Fac CARE BB+ 50 Reaffirmed
Jpl Industries Ltd Long- Term Bk Fac CARE BB+ 86.1 Revised from
CARE BB
K. Sevantilal And Company LT Bk Fac CARE BBB- 70 Reaffirmed
Kamineni Steel & Power India Pvt Ltd LT Bk Fac CARE D 17779.1 Issuer Not
Cooperating
Laxmi Diamond Pvt Ltd LT Bk Fac CARE BBB+ 8908.5 Issuer Not
/CARE A2 Cooperating
Magma Fincorp Ltd Perpetual Debt CARE A+ 1125 Revised from
CARE A+
Magma Fincorp Ltd Proposed Perpetual CARE A+ 675 Revised from
Debt CARE A+
Magma Fincorp Ltd LT Bk Fac CARE AA- 76876.8 Revised from
CARE AA-
Magma Fincorp Ltd Unsecured CARE AA- 7743 Revised from
Subordinated Tier CARE AA-
II debt
Magma Fincorp Ltd Proposed Unsecured CARE AA- 1000 Revised from
Subordinated Tier CARE AA-
II debt
Magma Fincorp Ltd Secured Redeemable CARE AA- 4598 Revised from
Bonds CARE AA-
Magma Fincorp Ltd Proposed Secured CARE AA- 1871 Revised from
Redeemable Bonds CARE AA-
Magma Fincorp Ltd Long/ST Bk Fac CARE AA- 4050 Revised from
/CARE A1+ CARE AA-
Manchukonda Prakasham Industries IndiaLT Bk Fac CARE A 50 Revised from
Pvt Ltd CARE A-
(reduced from 12)
Manchukonda Prakasham Industries IndiaLong/ST Bk Fac CARE A /CARE A1250 Revised from
Pvt Ltd CARE A-/CARE
A2+
(Enhanced from 13)
Manohar Food Industry LT Bk Fac CARE B+ 30 Issuer Not
Cooperating
Marudhar Education Society LT Bk Fac CARE BB 59.9 Reaffirmed
(reduced from 8.43)
Mathura Extractions LT Bk Fac CARE BB 75 Revised from
CARE BB-
Metcon India Realty & Infrastructure LT Bk Fac CARE BB 55 Reaffirmed
Pvt Ltd
Miraj Multi Colour Pvt Ltd LT Bk Fac CARE BB+ 227.5 Revised from
CARE BB
(enhanced from 14.90)
Mother Lam Pvt Ltd LT Bk Fac CARE D 115.8 Revised from
CARE B+
Naresh Kumar & Company Pvt Ltd LT Bk Fac CARE BBB+ 1730.2 Reaffirmed
(Reduced from 178.66)
Naresh Kumar & Company Pvt Ltd Long/ST Fac CARE BBB+ 190 Reaffirmed
/CARE A3+
Nav Durga Fuel Pvt. Ltd. LT Bk Fac CARE BB- 718.8 Issuer Not
Cooperating
Navbharat Fuse Co. Ltd. LT Bk Fac CARE B+ 313 Issuer Not
Cooperating
Navi Mumbai Sez Pvt. Ltd LT Bk Fac CARE AA 48000 Reaffirmed
(reduced from 100.00)
Nrb Industrial Bearings Ltd LT Bk Fac - TL CARE AA-(SO) 50 Reaffirmed
(ECB)*
* The above rating is based on the credit enhancement in the form of unconditional and
irrevocable corporate guarantee provided by NRB Bearings Limited
Nrb Industrial Bearings Ltd LT Bk Fac - CC CARE BBB- 200 Reaffirmed
Nrb Industrial Bearings Ltd LT Bk Fac – CARE BBB- 210 Assigned
Working Capital
Loan
Pinnacle Teleservices Pvt Ltd LT Bk Fac – TL - - Withdrawn
Pinnacle Teleservices Pvt Ltd LT Bk Fac CARE BB+ 46 Reaffirmed
Pioneer Foods And Agro Industries Pvt LT Bk Fac CARE BB- 3 Revised from
Ltd CARE BB
Pranaav Marathe Jewellers Pvt Ltd LT Bk Fac CARE B+ 322 Revised from
CARE
Quality Foods LT Bk Fac CARE B 21.7 Reaffirmed
Rajat Agro Commodities Pvt Ltd LT/ST Bk Fac CARE BB /CARE 300 Assigned
A4
Rmj Motors Pvt Ltd LT Bk Fac CARE B+ 147.5 Reaffirmed
S.K. Agri Products Pvt Ltd LT Bk Fac CARE BB- 84 Revised from
CARE B+
(Increased from 7)
Sai Poultry Farm LT Bk Fac CARE B+ 63 Reaffirmed
Setmax Ceramic LT Bk Fac CARE B+ 52.4 Assigned
Sevantilal And Sons LT Bk Fac CARE BBB- 90 Reaffirmed
Sharma Brothers LT Bk Fac CARE BB 200 Reaffirmed
(enhanced from 10.55)
Shree Nath Gum And Chemicals LT Bk Fac CARE BB- 21.8 Reaffirmed
Shree Nath Gum And Chemicals LT/ Shortterm Bk CARE BB- /CARE 80 Reaffirmed
Fac A4
Shrijee Motors LT Bk Fac CARE BB- 70 Reaffirmed
Shriram City Union Finance Ltd NCDs – III CARE AA+ 4333.3 Reaffirmed
Shriram City Union Finance Ltd NCDs – VI CARE AA+ 315 Reaffirmed
Shriram City Union Finance Ltd NCDs – VII CARE AA+ 435 Reaffirmed
Shriram City Union Finance Ltd NCDs – VIII CARE AA+ 1536.1 Reaffirmed
Shriram City Union Finance Ltd NCDs – IX CARE AA+ 1378.9 Reaffirmed
Shriram City Union Finance Ltd NCDs – X CARE AA+ 1000 Reaffirmed
Shriram City Union Finance Ltd NCDs – XI CARE AA+ 210 Reaffirmed
Shriram City Union Finance Ltd NCDs – XII CARE AA+ 1000 Reaffirmed
Shriram City Union Finance Ltd NCDs – XIII CARE AA+ 2000 Reaffirmed
Shriram City Union Finance Ltd NCDs – XIV CARE AA+ 27 Reaffirmed
Shriram City Union Finance Ltd NCDs – XV CARE AA+ 350 Reaffirmed
Shriram City Union Finance Ltd NCDs – XVI CARE AA+ 2250 Reaffirmed
Shriram City Union Finance Ltd NCDs – XVII CARE AA+ 1750 Reaffirmed
Shriram City Union Finance Ltd NCDs – XVIII CARE AA+ 1000 Reaffirmed
Shriram City Union Finance Ltd NCDs – XIX CARE AA+ 2250 Assigned
(Proposed)
Shriram City Union Finance Ltd Subordinated Debt CARE AA+ 1500 Reaffirmed
Shriram City Union Finance Ltd Subordinated Debt CARE AA+ 1000 Reaffirmed
Shriram City Union Finance Ltd Subordinated Debt CARE AA+ 600 Reaffirmed
Sigma One Kundan Ventures LT Bk Fac CARE BB- 97.5 Issuer Not
Cooperating
Sigma One Remonesa Ventures LT Bk Fac CARE BB- 100 Issuer Not
Cooperating
Sonu Realtors Pvt Ltd LT Bk Fac CARE BB- 150 Reaffirmed
Spm Marbles Pvt Ltd LT Bk Fac CARE BB- 70 Reaffirmed
Swd Industries LT Bk Fac CARE BB 60 Reaffirmed
Symphony Vyapaar Pvt Ltd LT Bk Fac CARE A- 724.2 Reaffirmed
(reduced from 74.81)
Tbea Energy (India) Pvt Ltd LT Bk Fac@ CARE BBB 1500 Reaffirmed
(reduced from 190.00)/@CARE has withdrawn the rating assigned to the proposed term loan of
Rs.22.00 crore of TBEA Energy (India) Pvt Ltd upon receipt of confirmation from the company that
the proposed term loan has not been used for mobilising funds and as such no amount is
outstanding against that facility.
Tbea Energy (India) Pvt Ltd LT / ST Bk Fac CARE BBB 4500 Reaffirmed
(enhanced from 410.00)
Venus Wire Industries Pvt Ltd LT / ST Bk Fac CARE A+ /CARE 229.5 Reaffirmed
A1+
Vnkc Agrocom Pvt Ltd LT Bk Fac CARE BB+ 55.6 Reaffirmed
Vnkc Agrocom Pvt Ltd LT/ST Bk Fac CARE BB+ /CARE 370 Reaffirmed
A4+
Whitelotus Industries Ltd LT Bk Fac CARE C 270.7 Issuer Not
Cooperating
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$: 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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