Rating List

Rating List
Name Date of Rating
(Initial Rating or Annual Surveillance)*
Instrument Amount Rating Rating Rationale Brief Rationale
CIEL Limited June 28, 2017 Proposed Short term Bond issue/ Short term Loan                            Mur 1,500 Million           CARE MAU A1+ (A One Plus)           Download Download
MaxCity Property Fund Limited (MPFL) March 31, 2017 Bond Issue - Senior Tranche                      Mur 600 Million           Provisional CARE MAU A (SO); Stable [Provisional Single A (Structured Obligation); Outlook: Stable]                   Download Download
CIM Finance Limited March 31, 2017 Long term Bank Facilities                                              Long term/Short term bank Facilities Mur 650 Million                 Mur 350 Million CARE MAU AA; Stable [Double A; Stable]                   CARE MAU AA; Stable/ CARE MAU A1+ [Double A; Stable/A One plus] Download Download
The Medical & Surgical Centre Limited March 21, 2017 Proposed Term Loan/ Bond Issue                                                Long/Short term Bank Facilities - Overdraft Mur 450 Million                     Mur 50 Million CARE MAU A; Stable [Single A; Stable]                   CARE MAU A; Stable/ CARE MAU A1 [Single A; Stable/A One] Download Download
Mara Delta Property Holdings Limited February 7, 2017 Proposed Short term Bond                                  Euro 10.0 Million(Mur 380.40 Million)**           CARE MAU A2 [A TWO]            Download Download
CIEL Limited November 25, 2016 Bond                                  Long/Short term Bank Facilities MUR 1000.05 million           MUR 180 million CARE MAU AA; Stable [Double A; Stable]           CARE MAU AA; Stable/ CARE MAU A1+ [Double A; Stable/A One plus Download
Commercial Investment Property Fund Limited November 25, 2016 Bond - Senior Tranche MUR 400 million Provisional CARE MAU A- (SO); Stable [Provisional Single A Minus (Structured Obligation); Outlook: Stable] Download Download
BanyanTree Bank Limited November 25, 2016 Fixed Deposit Programme USD 150 Million (equivalent to MUR 5.4 Billion)(enhanced from USD 100 Million) CARE MAU A-*(Single A minus) Download Download
*Outlook assigned in line with recent change in policy of CRAF: Negative.
* The rating is normally valid for a period of one year from the date of our initial communication of rating to client. However, CRAF reserves the right to undertake a surveillance/review of the rating from time to time, based on circumstances warranting such review, subject to at least one such review/surveillance every year.
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