CARE ratings for Indian debt instruments-Sep 8


Sep 8 Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 7, 2016.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------

SHORT TERM RATINGS:
-------------------
Jyoti Spinners                        ST Bk Fac          CARE A4        32      Assigned
Maruti Bitumen Pvt Ltd                ST Bk Fac          CARE A4        25      Assigned
Murlidhar Ratanlal Exports Ltd        ST Bk Fac          CARE A4+       493.5   Reaffirmed
Phillips Carbon Black Ltd.            CP*                CARE A1+       5000    Reaffirmed
* The aggregate of outstanding CP and other working capital borrowings shall be 
within the sanctioned fund-based working capital limits with banks


MEDIUM TERM RATINGS:
-------------------
Aimil Ltd                             Fixed deposit                             Suspended
                                      programme

LONG TERM RATINGS:
-------------------
A B T Investments (India) Pvt Ltd     Proposed LT        CARE B         1000    Assigned
                                      NonConvertible
                                      Debentures
Amber Builders                        LT Bk Fac          CARE BB-       50      Assigned
Amber Builders                        LT / ST Bk Fac     CARE BB- /CARE 90      Assigned
                                                         A4
Amber Spintex Pvt Ltd                 LT Bk Fac          CARE BB-       575.6   Assigned
Andhra Expressway Ltd                 Bk Fac                                    Withdrawn
Asian Star Co. Ltd                    LT/ST Bk Fac (FB)  CARE A-/CARE   11825   Reaffirmed
                                                         A2+
Cls Industries Pvt Ltd                LT Bk Fac          CARE D         143.3   Revised from
                                                                                CARE B
Disha Microfin Pvt. Ltd.              LT Bk Fac          CARE BBB+      250     Assigned
Embee Agro Food Industries Pvt Ltd    LT Bk Fac          CARE BB-       203.3   Suspension
                                                                                revoked and
                                                                                reaffirmed
Esaf Microfinance And Investments Pvt.Series A PTCs                             Withdrawn
Ltd - Cedar Mfi Trust 18
Jyoti Spinners                        LT Bk Fac          CARE B+        63      Assigned
Maharashtra Eastern Grid Power        Bk Fac                                    Withdrawn
Transmission Company Ltd
Maruti Bitumen Pvt Ltd                LT/ST Bk Facilitie CARE BB-/CARE  97.5    Assigned
                                                         A4
Mtc Business Pvt Ltd                  LT Bk Fac - FB     CARE A-        250     Assigned
Murlidhar Ratanlal Exports Ltd        LT Bk Fac          CARE BB+       648     Reaffirmed
Murlidhar Ratanlal Exports Ltd        LT/ ST Bk Fac      CARE BB+/A4+   175     Assigned
Param Exports                         LT Bk Fac          CARE BB+       107.5   Reaffirmed
Paschal Formwork (India) Pvt Ltd      LT Bk Fac (CC)     CARE BB-       42.5    Revised from
                                                                                CARE BB
Paschal Formwork (India) Pvt Ltd      LT Bk Fac (TL)                            Withdrawn
Rajahmundry Expressway Ltd            Bk Fac                                    Withdrawn
Satyam Roller Flour Mills Pvt Ltd     LT Bk Fac          CARE BB-       70      Assigned
Shaktigarh Textile & Industries Ltd   LT Bk Fac          CARE BB        330     Reaffirmed
The Great Eastern Shipping Co. Ltd    Proposed LT        CARE AAA       5000    Assigned
                                      NonConvertible
                                      Debenture
The Great Eastern Shipping Co. Ltd    LT NCD - 1         CARE AAA       4750    Reaffirmed
The Great Eastern Shipping Co. Ltd    LT NCD - 2         CARE AAA       2000    Reaffirmed
The Great Eastern Shipping Co. Ltd    LT NCD - 3         CARE AAA       4600    Reaffirmed
The Great Eastern Shipping Co. Ltd    LT NCD - 4         CARE AAA       5000    Reaffirmed
The Great Eastern Shipping Co. Ltd    LT NCD - 5         CARE AAA       5000    Reaffirmed
The Great Eastern Shipping Co. Ltd    Long/ST Bk Fac (BG)CARE AAA /CARE 500     Reaffirmed
                                                         A1+
The Panoramic Getaway                 LT Bk Fac          CARE BB-       142.5   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.

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