| Name |
Date of Rating
(Initial Rating or Annual Surveillance)*
|
Instrument |
Amount |
Rating |
Rating Rationale |
Brief Rationale |
| CIM Financial Services Ltd |
September 05, 2022 |
| Bond |
MUR 500 Million |
CARE MAU AA; Stable |
| Bond |
MUR 3,500 Million |
CARE MAU AA; Stable |
| Bond I |
MUR 1,900 Million |
CARE MAU AA; Stable |
| Bond II |
MUR 2,089 Million |
CARE MAU AA; Stable |
Bank Facilities – Long Term/Short Term |
MUR 6,433 Million (enhanced from MUR 5,733) |
CARE MAU AA; Stable/ CARE MAU A1+ |
|
|
|
| La Prudence Leasing Finance Co.Ltd |
September 05,2022 |
Proposed Bond Issue |
MUR 700 Million |
CARE MAU A-;Stable |
|
|
| Bank One Limited |
September 05, 2022 |
| Issuer Rating |
N.A |
CARE MAU A+ (Is); Stable |
| Tier II Bond |
Mur 600 Million |
CARE MAU A+; Stable |
|
|
|
| Mauritius Sugar Syndicate |
August 10, 2022 |
| Money Market Instrument (MMI) (Short Term) |
MUR 1,500 million |
CARE MAU A1+ |
| Proposed Money Market Instrument (MMI) (Short Term) |
Mur 2,000 million |
CARE MAU A1+ |
|
Download
|
Download
|
| One & Only Villas at St. Geran Ltd |
August 02,2022 |
Bank Facility |
MUR 4,300 Million |
CARE MAU AA-(SO);Stable |
|
|
| ENL Property Limited |
June 30, 2022 |
| Term Loan |
Mur 2,300 million |
CARE MAU A; Stable |
| Overdraft |
Mur 300 million |
CARE MAU A1 |
|
Download
|
Download
|
| ENL Limited |
June 30, 2022 |
| Proposed Bond Issue |
Mur 2,000 million |
CARE MAU A; Stable |
| Bond Issue |
Mur 3,000 million |
CARE MAU A; Stable |
|
Download
|
Download
|
| Moka City Limited |
June 30, 2022 |
| Term Loan |
Mur 1,250 million |
CARE MAU A; Stable |
| Overdraft |
Mur 250 million |
CARE MAU A1 |
|
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|
Download
|
Oficea Company Limited |
June 30, 2022 |
| Bond Issue (Senior Tranche) |
Mur 1,400 million |
CARE MAU A; Stable |
| Bond Issue (Junior Tranche) |
Mur 900 million |
CARE MAU BBB+; Stable |
|
Download
|
Download
|
| Currimjee Jeewanjee and Company Limited |
June 27, 2022 |
Bond Issue |
MUR 2,200 million |
CARE MAU A-;Stable |
Download
|
Download
|
| Emtel Limited |
June 27, 2022 |
| Bond Issue |
Mur 1,000 million |
CARE MAU AA-; Stable |
| Bond Issue |
Mur 1,150 million |
CARE MAU AA-; Stable |
|
Download
|
Download
|
MUA Ltd |
June 27, 2022 |
| Bond Issue |
Mur 500 million |
CARE MAU AA-; Positive |
| Bond Issue |
Mur 100 million |
CARE MAU AA-; Positive |
|
Download
|
Download
|
| MCB Group Limited |
June 03,2022 |
Bond Issue |
MUR 2,000 Million |
CARE MAU AAA;Stable |
Download
|
Download
|
| MCB Structured Solutions Ltd |
June 03,2022 |
Secured Credit-Linked Notes |
MUR 160 Million |
Provisional CARE MAU AA(SO)Stable |
Download
|
Download
|
| Leal & Co. Ltd |
June 03, 2022 |
Proposed Term Loan |
MUR 600 million (enhanced from MUR 500 million) |
CARE MAU A+; Stable |
Download
|
Download
|
| Lottotech Ltd |
May 23, 2022 |
| Loan |
Mur 90 million |
CARE MAU AA-; Stable |
| Overdraft Facility |
MUR 37 million |
CARE MAU A1+ |
|
Download
|
Download
|
| Gamma Civic Ltd |
May 23, 2022 |
Bond – long term |
MUR 1,000 Million |
CARE MAU AA-; Stable |
Download
|
Download
|
Alteo Limited |
May 23, 2022 |
Bond issue |
MUR 1,450 million |
CARE MAU A;[Credit Watch with Developing Implications] |
Download
|
Download
|
| Creative Properties Ltd |
April 20, 2022 |
| Bank Facilities |
MUR 1,847 Million |
CARE MAU A+ (SO); Stable |
| Bank Guarantees (Long-Term) |
MUR 111 Million |
CARE MAU A1 (SO) |
| Overdraft facilities |
MUR 285 million |
CARE MAU A+ (SO); Stable |
|
Download
|
Download
|
Ascencia Limited |
April 20, 2022 |
| Bond Issue |
MUR 1,500 Million |
CARE MAU AA-;Stable |
| Bank facilities and Bond (Long-Term) |
MUR 4,760 Million |
CARE MAU AA-;Stable |
|
Download
|
Download
|
| CM Structured Finance (1) Ltd |
April 20,2022 |
Secured Credit-linked Notes |
USD 20 million(Mur 700 million) |
CARE MAU D |
|
Download
|
| Spice Finance Ltd |
March 14, 2022 |
Bond |
MUR 500 Million |
CARE MAU A-; CWD[Single A Minus; Under Credit watch with Developing Implications] |
Download
|
Download
|
| The Mauritius Commercial Bank Limited |
March 14, 2022 |
Issuer Rating |
Not Applicable |
CARE MAU AAA (Is); Stable |
Download
|
Download
|
| CIEL Limited |
March 14, 2022 |
| Bond Issue |
Mur 970 Million |
CARE MAU A+; Positive |
| Bond Issue |
MUR 1,530 Million |
CARE MAU A+; Positive |
| Bond Issue |
MUR 500 Million |
CARE MAU A+; Positive |
| Bank Facilities– Long Term/Short term |
MUR 180 Million |
CARE MAU A+; Positive/ CARE MAU A1 |
|
Download
|
Download
|
Evaco Ltd |
February 04, 2022 |
Proposed Bond Issue |
MUR 500 Million |
CARE MAU A- (SO); Stable |
Download
|
Download
|
Aquarelle International Limited |
January 17, 2022 |
| Bond Issue |
USD 3.3 Million (MUR 132 Million) |
CARE MAU A; Stable |
| Proposed Bond Issue |
USD 5.7 Million (MUR 228 Million) |
CARE MAU A; Stable |
|
|
Download
|
| Omnicane Milling Operations Ltd |
December 28, 2021 |
| Bond Issue |
MUR 1,700 Million |
CARE MAU BBB+; Stable |
|
|
Download
|
Omnicane Thermal Energy Operations (St Aubin) Limited |
December 28, 2021 |
Bank Facilities |
MUR 300 Million |
CARE MAU A1+ |
Download
|
Download
|
| Attitude Hospitality Ltd |
December 28, 2021 |
Bond Issue |
MUR 1,000 Million |
CARE MAU BBB+; Negative |
Download
|
Download
|
| Compagnie des Villages de Vacances de l'Isle de France Limitée [COVIFRA] |
December 28, 2021 |
| Bond Issue |
Euro 15 Million (Mur 750 million) |
CARE MAU A; Stable |
| Bank Facilities |
EUR 13 Million (MUR 650 million) |
CARE MAU A; Stable |
|
Download
|
Download
|
CM Diversified Credit Ltd |
December 28, 2021 |
Secured Credit Link Notes |
MUR 1,967 Million (enhanced from MUR 1,750 million) |
CARE MAU A (SO); Stable / CARE MAU A1 (SO) |
Download
|
Download
|
CM Structured Finance (2) Ltd |
December 28, 2021 |
Secured Credit-linked Notes |
EUR 8 Million (MUR 396 Million) |
CARE MAU A-(SO); Stable / CARE MAU A2+ (SO) |
Download
|
Download
|
CIEL Finance Limited |
December 17, 2021 |
Bond Issue |
MUR 500 Million |
CARE MAU A+; Stable |
Download
|
Download
|
| City and Beach Hotels (Mauritius) Limited |
December 17, 2021 |
Bond Issue |
Euro 30 million (Mur 1,485 million) |
CARE MAU BBB+; Negative |
Download
|
Download
|
| CM Structured Products (2) Ltd. |
December 17, 2021 |
Secured Credit Link Notes |
EUR 5 million (MUR 248 million) |
CARE MAU BBB+ (SO); Negative / CARE MAU A2 (SO); Negative |
Download
|
Download
|
Tropical Paradise Co Ltd |
December 17, 2021 |
Term Loan |
MUR 503 Million |
CARE MAU A-; Negative |
Download
|
Download
|
| Axess & Co. Ltd |
November 16, 2021 |
| Bank Facilities – Overdraft and Import loan |
MUR 350 million |
CARE MAU A+; Stable |
| Proposed Money market Instrument |
MUR 100 Million |
CARE MAU A1+ |
|
Download
|
Download
|
| Commercial Investment Property Fund Limited |
November 16, 2021 |
| Bonds Issue (Senior Tranche) |
Mur 400 Million |
CARE MAU A; Stable |
| Bonds Issue (Senior Tranche) |
MUR 1,000 Million |
CARE MAU A; Stable |
| Proposed Bond (Junior Tranche) |
Mur 350 million |
CARE MAU A-; Stable |
|
Download
|
Download
|
C-Care (Mauritius) Ltd |
November 15, 2021 |
| Term Loan |
MUR 390 million(reduced from MUR 450 million) |
CARE MAU A+; Stable |
| Long/Short term Overdraft Facility |
MUR 50 Million |
CARE MAU A+; Stable/ CARE MAU A1+ |
|
Download
|
Download
|
| MaxCity Property Fund Ltd |
November 15, 2021 |
| Bond Issue – Long Term |
Mur 1,000 Million(enhanced from 800 Million) |
CARE MAU A-; Stable |
| Bond issue – long term |
MUR 300 Million |
CARE MAU A-; Stable |
| Bond issue – long term |
USD 11.1 million (MUR 472 million) |
CARE MAU A-; Stable |
|
Download
|
Download
|
Ducray Lenoir (Investments) Ltd |
October 01, 2021 |
Proposed Bond Issue |
MUR 600 Million |
CARE MAU A (SO); Stable |
Download
|
Download
|
| Lavastone Ltd |
September 29, 2021 |
| Bond |
MUR 350 Million |
CARE MAU A-; Stable |
| Proposed Bond |
Mur 650 million |
CARE MAU A-; Stable |
|
Download
|
Download
|
| Omnicane Holdings (La Baraque) Thermal Energy Limited |
September 29, 2021 |
Bond issue |
Mur 488 (reduced from 550) |
CARE MAU A-; Stable |
Download
|
Download
|
| Omnicane Thermal Energy Operations (La Baraque) Limited |
September 29, 2021 |
| Bond Issue |
Mur 392.5 (Reduced from Mur 780 million) |
CARE MAU A-; Stable |
| Bank facility |
Mur 1,115 (Increase from MUR 515 million) |
CARE MAU A2+ |
Term Loan |
Mur 36 Million |
CARE MAU A-; Stable |
|
Download
|
Download
|
| SBM Factors Ltd |
September 13, 2021 |
Bank Facility |
MUR 1,500 Million |
CARE MAU A2+; |
Download
|
Download
|
| Investcorp (Holdings) Ltd |
August 06, 2021 |
Proposed Bond Issue |
MUR 1,000 million |
CARE MAU BBB+; Stable |
Download
|
Download
|
| GVL (Mauritius) Limited |
June 04, 2021 |
Bank Facilities |
USD 58 Million(enhanced from USD 38 Million) |
CARE MAU BBB+ (Positive) |
|
Download
|
| BanyanTree Bank Limited |
February 22, 2021 |
Rating Withdrawn |
|
|
|
Download
|
| CIM Finance Ltd |
November 4,2020 |
|
|
Download
|
* 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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