January 2, 2017 / 9:49 AM / 8 months ago

CARE ratings for Indian debt instruments-Jan 2

Jan 2 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 30 & 31, 2016.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agroh Ratlam Tollways Pvt Ltd         ST Bk Fac          -              -       Withdrawal
Agroh Rewa Ring Road Pvt Ltd          ST Bk Fac#         CARE A3+ (SO)  9       Reaffirmed
#backed by irrevocable and unconditional corporate guarantee extended by Agroh Infrastructure
Developers Private Ltd (AIDPL, rated CARE BBB; Stable/CARE A3+.

Aka Logistics Pvt. Ltd                ST Bk Fac          CARE A2+       800     Reaffirmed
Ambit Finvest Pvt. Ltd.               ST debt            CARE A1+(SO)*  500     Assigned
*based on credit enhancement in the form of an unconditional and irrevocable guarantee from the
parent, Ambit Private Limited
Ambit Finvest Pvt. Ltd.               CP (CP) for IPO    CARE A1+(SO)*  2000    Assigned
                                      Financing
*based on credit enhancement in the form of an unconditional and irrevocable guarantee from the
parent, Ambit Private Limited
Ami Lifesciences Pvt Ltd              ST Bk Fac          CARE A3        150     Reaffirmed
(enhanced from Rs.10 crore)
Amjey Chem Trade Pvt Ltd              ST Bk Fac          CARE A4+       215     Reaffirmed
Amtech Electronics (India) Ltd        ST Bk Fac          CARE A3        127.4   Assigned
Bannari Amman Spinning Mills Ltd      ST Bk Fac          CARE A2+       920     Revised from
                                                                                CARE A2+
(enhanced from Rs.77.00 CR)
Bothra Shipping Services Pvt Ltd      ST Bk Fac          CARE A1        350     Reaffirmed
(enhanced from 20 CR)
Classic Product Pvt Ltd               ST Bk Fac          CARE BB /CARE  50      Reaffirmed
                                                         A4
Capital First Home Finance Ltd        CP                 CARE A1+       1000    Reaffirmed
(enhanced from 50 CR)
Capital First Ltd                     CP Issue / ST Debt CARE A1+       25000   Reaffirmed
                                      Programme
Coral Telecom Ltd                     ST Bk Fac          CARE A4        70      Assigned
Das Processors                        ST Bk Fac          CARE A4        70      Assigned
Elektrolites (Power) Pvt Ltd          ST Bk Fac          CARE A3        205     Reaffirmed
(Enhanced from Rs 10.00 crore)
Etco Denim Pvt Ltd                    ST Bk Fac          CARE D         290     Revised from
                                                                                CARE A4
Etco Industries Pvt Ltd               ST Bk Fac          CARE D         120     Reaffirmed
Emt Megatherm Pvt. Ltd.               ST Bk Fac          CARE A4+       270     Reaffirmed
Excel Associates Pvt Ltd              ST Bk Fac          CARE A3        91.3    Reaffirmed
(Enhanced from 4.63 CR)
Family Credit Ltd                     CP                 CARE A1+       35000   Reaffirmed
Family Credit Ltd                     NCD                CARE A4+       21000   Reaffirmed
Gemscab Industries Ltd                ST Bk Fac          CARE A3        702     Reaffirmed
                                      (Non-fund based)
Grasim Bhiwani Textiles Ltd           CP (CP) issue*     CARE A1+       150     Reaffirmed
*Carved out of sanctioned working capital limits
Grasim Bhiwani Textiles Ltd           ST Bk Fac          CARE A1+ (SO)  100     Reaffirmed
Greenlam Industries Ltd               ST Bk Fac          CARE A1        2550    Reaffirmed
Greenlam Industries Ltd               ST Bk Fac          CARE A1        300     Revised from
                                                                                CARE A / CARE
                                                                                A1
Gurukrupa Krafts Pvt Ltd              ST Bk Fac          CARE A3        47.5    Reaffirmed
H.B. Ravi Kumar                       ST Bk Fac          CARE A4        60      Reaffirmed
(enhanced from Rs. 4.00 crore)
Haldyn Glass Ltd                      ST Bk Fac(NFB)     CARE A2        110.6   Assigned
Icici Bank                            CD programme       CARE A1+       500000  Reaffirmed
Idea Telesystems Ltd                  ST Bk Fac          CARE A1+       800     Reaffirmed
India Pesticides Ltd                  Bk Fac -           CARE A2+       150     Revised from
                                      Non-fundbased - ST                        CARE A3+
                                      - BG/LC
Indian Additives Ltd                  ST Bk Fac          CARE A1+       165     Reaffirmed
Indostar Capital Finance Ltd          CP (CP) issue      CARE A1+       12500   Reaffirmed
Intergold (India) Pvt Ltd             ST Bk Fac          CARE A2+       5       Reaffirmed
                                      (Non-Fund Based)
Isc Projects Pvt Ltd                  ST Bk Fac          CARE A3        439.9   Reaffirmed
(enhanced from Rs.39.00 crore)
Jaiprakash Associates Ltd             ST Bk Fac          CARE D         27763.1 Reaffirmed
J.K. Cement Ltd                       ST Bk Fac          CARE A1+       3000    Reaffirmed
J.K. Cement Ltd                       CP (CP)*           CARE A1+       1500    Reaffirmed
*carved out of working-capital limits
Jewelex (India) Pvt Ltd               ST Bk Fac (Fund    CARE A2+       5773    Reaffirmed
                                      Based)
Jewelex (India) Pvt Ltd               ST Bk Fac (Non     CARE A2+       20      Reaffirmed
                                      Fund Based)
Jk Lakshmi Cement Ltd                 ST Bk Fac          CARE A1+       4500    Reaffirmed
Jk Lakshmi Cement Ltd                 CP (CP)*           CARE A1+       1200    Reaffirmed
* Carved out of working-capital limits
Jk Lakshmi Cement Ltd                 CP (CP)            CARE A1+       2000    Reaffirmed
K. Ramachandra Rao Transmission And   ST Bk Fac          CARE A3+       1990    Reaffirmed
Power Projects Pvt Ltd
Kerala Balers Pvt Ltd                 ST Bk Fac          CARE A4        120     Reaffirmed
Khedut Solvexp Pvt Ltd                ST Bk Fac          CARE A4        30      Reaffirmed
Khyati Realtors Pvt Ltd               CP                 CARE A1+(SO)   500#    Reaffirmed
#Backed by credit enhancement in the form of unconditional and irrevocable corporate guarantee
by Lakshdeep Investments & Finance Pvt. Ltd. (LIFPL, guaranto
King Yarns Pvt Ltd                    ST Bk Fac          CARE A4        12.8    Assigned
Kishan Agro Product                   ST Bk Fac          CARE A4        2.3     Assigned
L&T Finance Holdings Ltd              ST Debt            CARE A1+       15000   Reaffirmed
L&T Finance Ltd                       CP / ST Debt       CARE A1+       70000   Reaffirmed
                                      programme
L&T Finance Ltd                       ST Bk Fac          CARE A1+       3500    Reaffirmed
L&T Fincorp Ltd.                      CP                 CARE A1+       30000   Reaffirmed
L&T Housing Finance Ltd               CP                 CARE A1+       25000   Reaffirmed
L&T Infrastructure Finance Co. Ltd    CP (CP) / ST Debt  CARE A1+       110000  Reaffirmed
                                      (STD) issue
M. P. Power Management Co. Ltd        ST Bk Fac          CARE A2+ (SO)  4700    Reaffirmed
M. P. Power Management Co. Ltd        ST Bk Fac          CARE A2+ (SO)  2000    Reaffirmed
M. P. Power Management Co. Ltd        ST Bk Fac @        CARE A2+ (SO)  2700    Revised from
                                                                                CARE A2+ (SO)
M.B. Patil Constructions Ltd          ST Bk Fac          CARE A3+       715     Assigned
Madhya Bharat Power Corporation Ltd   ST Bk Fac          CARE A4        100     Reaffirmed
Maharashtra Solvent Extraction Pvt LtdST Bk Fac          CARE A3        2.5     Reaffirmed
Maharashtra Solvent Extraction Pvt LtdST Bk Fac          CARE A3        49      Assigned
Manappuram Finance Ltd                ST Bk Fac          CARE A1+       33200   Reaffirmed
[enhanced from Rs.2,285 crore]
Mangalam Ventures Ltd                 ST Bk Fac          CARE A4+       37      Reaffirmed
[Reduced from Rs.4.20 crore]
Meghalaya Cements Ltd                 ST Bk Fac          CARE A1        120     Reaffirmed
Mercator Ltd                          ST Bk Fac          CARE A3+       1125.1  placed on
                                                                                credit watch
                                                                                with developing
implications
Mercator Oil And Gas Ltd              ST Bk Fac          CARE A3+(SO)   1240    placed on
                                                                                credit watch
                                                                                with developing
implications
Meril Diagnostics Pvt Ltd             ST Bk Fac          CARE A1+ (SO)  150     Reaffirmed
Meril Life Sciences India Pvt Ltd     ST Bk Fac          CARE A1+ (SO)  170     Reaffirmed
Meril Life Sciences Pvt Ltd           ST Bk Fac          CARE A1+ (SO)  160     Reaffirmed
Meril Life Sciences Pvt Ltd           CP (CP) issue*     CARE A1+ (SO)  250     Reaffirmed
North Street Cooling Towers Pvt Ltd   ST Bk Fac          CARE A4        40      Reaffirmed
Ntpc Ltd                              ST Bk Fac          CARE A1+       50000   Reaffirmed
Ntpc Ltd                              CP                 CARE A1+       20000   Reaffirmed
Pallishree Ltd.                       ST Bk Fac          CARE A2        4       Reaffirmed
Pallishree Ltd.                       ST Bk Fac          CARE A2        4       Reaffirmed
Patil Construction And Infrastructure ST Bk Fac          CARE A3+       2000    Assigned
Ltd
R.R. Ornaments Pvt Ltd                ST Bk Fac          CARE A4        1.5     Reaffirmed
Riwasa Tiles Ltd                      ST Bk Fac          CARE A3        52.5    Reaffirmed
S. V. Aluext Profile Pvt Ltd          ST Bk Fac          CARE A4        18      Reaffirmed
Sabarkantha District Cooperative Milk ST Bk Fac          CARE A1+       2800    Reaffirmed
Producers Union Ltd
(increased from 210.00 CR)
Sanjay Soya Pvt Ltd                   ST Bk Fac          CARE A3        1       Reaffirmed
Scg Exports Pvt Ltd                   ST Bk Fac (FB)     CARE A4+       2000    Reaffirmed
Scg Exports Pvt Ltd                   ST Bk Fac (NFB)    CARE A4+       1400    Reaffirmed
Shanthi Feeds Pvt Ltd                 ST Bk Fac          CARE A2        422.5   Reaffirmed
Sri Ram Technopack Pvt Ltd            ST Bk Fac          CARE A4        2.5     Assigned
Srikalahasthi Pipes Ltd               ST Bk Fac          CARE A1+       3200    Reaffirmed
Sterling Ceramics                     ST Bk Fac          CARE A4+       7.5     Reaffirmed
Suraksha Realty Ltd                   CP                 CARE A1+(SO)   500#    Reaffirmed
#Backed by credit enhancement in the form of unconditional and irrevocable corporate guarantee
by Lakshdeep Investments & Finance Pvt. Ltd. (LIFPL, guarantor). The guarantee is provided on
joint and several basis along with Khyati Realtors Private Limited (KRPL; wholly owned
subsidiary of LIFPL). 
Sujana Metal Products Ltd             ST Bk Fac          CARE D         2691.3  Reaffirmed
Shiva Cement Ltd                      ST Bk Fac          CARE D         20      Revised from
                                                                                CARE A4
Suraksha Realty Ltd                   CP                 CARE A1+(SO)   650*    Reaffirmed
*Backed by an unconditional and irrevocable corporate guarantee from LIFPL.
Suzuki Textiles Ltd                   ST Bk Fac          CARE A4        202.3   Reaffirmed
Thatavarthi Apparels Ltd              ST Bk Fac          CARE A4        96.5    Reaffirmed
(reduced from Rs.10.00 CR)
Uttam Value Steels Ltd                ST Bk Fac          CARE D         13900   Reaffirmed
Um Cables Ltd                         ST Bk Fac          CARE A2        1000    Reaffirmed
Universal Confectionery And Food      ST Bk Fac          CARE A4        43      Assigned
Products Pvt Ltd
Virendra & Company                    ST Bk Fac          CARE A3        357     Reaffirmed
(Reduced from 48.98 CR)
Vishnu Cotton Mills Ltd               ST Bk Fac          CARE A4        61.6    Reaffirmed
Wellcare Oil Tools Pvt Ltd            ST Bk Fac          CARE A4        20      Reaffirmed
Thermosol Glass India Pvt Ltd         ST Bk Fac          CARE A4        10      Assigned
Tata Housing Development Co. Ltd      CP Issue           CARE A1+       10000   Reaffirmed
Tiger Steel Engineering (India) Pvt   ST Bk Fac          CARE A4        385     Reaffirmed
Ltd

MEDIUM TERM RATINGS:
-------------------

Icici Bank                            Fixed Deposit      CARE AAA (FD)          Reaffirmed
                                      programme

Icici Home Finance Co. Ltd            Fixed Deposits     CARE AAA(FD)   20000   Reaffirmed
Jk Lakshmi Cement Ltd                 FD                 CARE AA (FD)   150     Reaffirmed
L&T Housing Finance Ltd               Fixed Deposits     CARE AA+(FD)   1000    Reaffirmed
                                      Programme
Jewelex (India) Pvt Ltd               ST Instrument      -              -       Withdrawal
                                      (Fixed Deposit
                                      Issue)

LONG TERM RATINGS:
-------------------
A B Grain Spirits Pvt Ltd             Bk Fac             -              -       Suspended
A To Z Logistics Ltd                  Bk Fac             -              -       Suspended
A.S. Cargo Movers Pvt Ltd             Bk Fac             -              -       Suspended
Aakash Polyfilms Ltd                  Bk Fac             -              -       Suspended
Abhi-Asmi International Pvt Ltd       Bk Fac             -              -       Suspended
Accord Mediplus Pvt Ltd               Bk Fac             -              -       Suspended
Adani Ports & Special Economic Zone LtNCDs Issue*        CARE AA+ (SO)  1500    Reaffirmed
*backed by the escrow of entire receivables of Indian Oil Corporation Ltd. (IOC; rated CARE AAA
)for the single point mooring (SPM) facility of APSEZ
Aditya Telelink Pvt Ltd               Bk Fac             -              -       Suspended
Ae Tollway Pvt Ltd.                   LT Bk Fac@         CARE BBB(SO)   16500   Assigned
@ backed by Irrevocable and unconditional Corporate Guarantee from IRB Infrastructure Developers
Limited (IRB) to the effect that it shall provide an intere
Agarwal Eductation And Research SocietBk Fac             -              -       Suspended
Agarwal Woven Polymers                Bk Fac             -              -       Suspended
Agroh Biaora Tollways Pvt Ltd         LT Bk Fac#         CARE BBB (SO)  640     Reaffirmed
Agroh Biaora Tollways Pvt Ltd         LT/ST Bk Fac#      CARE BBB (SO); 106.1   Reaffirmed
                                                         Stable/CARE
                                                         A3+(SO)
#backed by irrevocable and unconditional corporate guarantee extended by Agroh Infrastructure
Developers Private Ltd (AIDPL, rated CARE BBB; Stable/CARE A3+
Agroh Infrastructure Developers Pvt LtLT Bk Fac          CARE BBB       100     Assigned
Agroh Infrastructure Developers Pvt LtLT/ST Bk Fac       CARE BBB;      1200    Reaffirmed
                                                         Stable/CARE A3+
Agroh Ratlam Tollways Pvt Ltd         LT Bk Fac          CARE A-        800     Revised from
                                                                                CARE BBB (SO)
Agroh Rewa Ring Road Pvt Ltd          LT Bk Fac#         CARE BBB (SO)  550     Reaffirmed
#backed by irrevocable and unconditional corporate guarantee extended by Agroh Infrastructure
Developers Private Ltd (AIDPL, rated CARE BBB; Stable/CARE A3+
Agroh Rewa Ring Road Pvt Ltd          LT/ST Bk Fac#      CARE BBB (SO); 33.3    Reaffirmed
                                                         Stable/CARE
                                                         A3+(SO)
Agroh Rewa Ring Road Pvt Ltd          LT Bk Fac#         CARE BBB(SO)   550     Reaffirmed
#backed by irrevocable and unconditional corporate guarantee extended by Agroh Infrastructure
Developers Private Ltd (AIDPL, rated CARE BBB; Stable/CARE A3+
Agroh Rewa Ring Road Pvt Ltd          LT / ST Bk Fac#    CARE BBB(SO)   33.3    Reaffirmed
                                                         /CARE A3+(SO)
#backed by irrevocable and unconditional corporate guarantee extended by Agroh Infrastructure
Developers Private Ltd (AIDPL, rated CARE BBB; Stable/CARE A3+
Agroh Toll Highways Pvt Ltd           LT Bk Fac          CARE A-        855.5   Reaffirmed
Agroh Toll Highways Pvt Ltd           LT/ST Bk Fac       CARE A-;       65.3    Reaffirmed
                                                         Stable/CARE A2+
Ajay Tube Industries Pvt Ltd          LT Bk Fac          CARE D         95      Revised from
                                                                                CARE BB
Aka Logistics Pvt. Ltd                LT Bk Fac          CARE A-        100     Reaffirmed
Akshar Spintex Pvt Ltd                Bk Fac             -              -       Suspended
Alex Spectrum Radiation (P) Ltd.      Bk Fac             -              -       Suspended
Ambica Agarbathies Aroma And IndustrieBk Fac             -              -       Suspended
Ltd
Ami Lifesciences Pvt Ltd              LT Bk Fac          CARE BBB-      107.1   Reaffirmed
Ami Lifesciences Pvt Ltd              LT/ST Bk Fac       CARE BBB-      305     Reaffirmed
                                                         /CARE A3
(enhanced from Rs.25.50 crore)
Amines & Plasticizers Ltd             Bk Fac             -              -       Suspended
Amjey Chem Trade Pvt Ltd              LT Bk Fac          CARE BB        50      Reaffirmed
Amtech Electronics (India) Ltd        LT Bk Fac          CARE BBB-      47.5    Assigned
Annapurna Microfinance Pvt Ltd        Series A1 PTCs#    CARE A- (SO)   -       Assigned
# Series A PTC is rated on ultimate payment basis
Annapurna Microfinance Pvt Ltd        Series A1 PTCs#    CARE BB (SO)   -       Assigned
# Series A PTC is rated on ultimate payment basis
Anokhi Pahel Enterprise               LT Bk Fac          CARE B+        150     Reaffirmed
Arani Agro Oil Industries Pvt Ltd     Bk Fac             -              -       Suspended
Ardent Properties Pvt Ltd             LT Bk Fac          CARE AA        1500    Assigned
Asansol Polyfabs Pvt Ltd              Bk Fac             -              -       Withdrawn
Ashirvad Impex                        Bk Fac                                    Withdrawn
Ashirwad Corporation                  Bk Fac             -              -       Suspended
Ashoka Oil Industries                 Bk Fac             -              -       Suspended
Austin Distributors Pvt Ltd           Bk Fac             -              -       Suspended
Avadh Developers                      Bk Fac             -              -       Suspended
B. K. Roy Pvt. Ltd.                   LT Bk Fac          CARE A-        190     Reaffirmed
Bagherwal Electrodes Pvt Ltd          Bk Fac             -              -       Suspended
Bajaj Basmati Pvt Ltd                 Bk Fac             -              -       Suspended
Bangalore Elevated Tollway Ltd        Bk Fac             -              -       Withdrawn
Bank Of Baroda                        Basel III          CARE AA;       15000   Reaffirmed
                                      Compliant Tier I
                                      Perpetual Bonds issue#
#includes green shoe option of Rs.1,000 crore.
Bank Of Baroda                        Basel III          CARE AA;       20000   Reaffirmed
                                      Compliant Tier I
                                      Perpetual Bonds issue#
#includes green shoe option of Rs.1,000 crore.
Bank Of Baroda                        Upper Tier II      CARE AA+       50000   Reaffirmed
                                      Bonds (Basel II)@
@ CARE has rated the aforesaid Upper Tier II Bonds and the Perpetual Bonds after taking into
consideration their increased sensitiveness to Bank of Baroda's
Bank Of Baroda                        Perpetual Bonds    CARE AA+       19117   Reaffirmed
                                      (Basel II)@
@ CARE has rated the aforesaid Upper Tier II Bonds and the Perpetual Bonds after taking into
consideration their increased sensitiveness to Bank of Baroda's
Bank Of Baroda                        Lower Tier II      CARE AAA       5000    Reaffirmed
                                      Bonds (Basel II)
Bannari Amman Spinning Mills Ltd      LT Bk Fac          CARE A-        2607.4  Reaffirmed
(enhanced from Rs.245.74 CR)
Bannari Amman Spinning Mills Ltd      LT / ST Bk Fac     CARE A-        3750    Revised from
                                                                                CARE A- /
                                                                                CARE A2+
(enhanced from Rs.345.00 CR)
Bansal Pathways Pvt Ltd               LT Bk Fac          CARE BBB       757     Reaffirmed
Barbrik Project Ltd                   Bk Fac             -              -       Withdrawn
Barnala Builders & Property ConsultantBk Fac             -              -       Suspended
Benktesh Synth Processors Pvt Ltd     Bk Fac             -              -       Suspended
Berar Finance Ltd                     Bk Fac             -              -       Withdrawn
Bhaktavatsalam Memorial Trust         Bk Fac             -              -       Suspended
Birbhum Chemicals And Fertilisers Ltd.LT Bk Fac          CARE A-        660     Reaffirmed
Bonnie Foi Society                    Bk Fac             -              -       Suspended
Borkhedi Wardner Pathways Pvt Ltd     LT Bk Fac          CARE BBB-      183.2   Reaffirmed
Borkhedi Wardner Pathways Pvt Ltd     LT / ST Bk Fac     CARE BBB-      91      Reaffirmed
Bothra Shipping Services Pvt Ltd      LT Bk Fac          CARE A         300     Reaffirmed
(enhanced from 10 CR)
Bright Style Fabrics Pvt Ltd          Bk Fac             -              -       Suspended
Bsr Diagnostic Ltd                    Bk Fac             -              -       Suspended
Bsr Super Speciality Hospitals Ltd    Bk Fac             -              -       Suspended
Capital First Home Finance Ltd        LT Bk Fac          CARE AA+       4610.1  Reaffirmed
Capital First Home Finance Ltd        NCD                CARE AA+       1000    Reaffirmed
Capital First Ltd                     Perpetual Debt     CARE AA        3000    Reaffirmed
Capital First Ltd                     NCD                CARE AA+       43500   Reaffirmed
Capital First Ltd                     Subordinated Debt  CARE AA+       8000    Reaffirmed
Capital First Ltd                     LT Bk Fac          CARE AA+       79700   Reaffirmed
Capital First Ltd                     LT Subordinated Bk CARE AA+       2750    Reaffirmed
                                      Fac
Care Office Equipment Ltd             LT Bk Fac          CARE BB+       650     Revised from
                                                                                CARE BBB-
Care Office Equipment Ltd             LT/ST Bk Fac       CARE BB+/CARE  150     Revised from
                                                         A4+                    CARE
                                                                                BBB-/CARE A3
Century Textiles And Industry Ltd     Bk Fac             -              -       Suspended
Chhattisgarh Steel & Power Ltd        Bk Fac             -              -       Suspended
Chl Ltd                               Bk Fac             -              -       Suspended
Classic Product Pvt Ltd               LT Bk Fac          CARE BB        90      Reaffirmed
Cmi Fpe Ltd                           Long/ ST Bk Fac    CARE BBB+      2000    Reaffirmed
                                      (Fund              /CARE A2+
                                      Based/NonFund Based Bk Fac)
Convention Hotels India Pvt Ltd       Bk Fac                                    Suspended
Coral Telecom Ltd                     LT Bk Fac          CARE B+        77.5    Assigned
Dargar Trading Company                Bk Fac             -              -       Suspended
Das Processors                        LT Bk Fac          CARE BB-       20      Assigned
Dayanand Medical College & Hospital   Bk Fac             -              -       Suspended
Managing Society
Deligentia Energy & Infrastructure PvtLT Bk Fac          CARE BBB       -       Revised from
Ltd                                                                             CARE BBB-
Dhfl Vysya Housing Finance Ltd        LT Bk Fac          CARE AA-       720.6   Reaffirmed
Dhfl Vysya Housing Finance Ltd        LT Bk Fac*         CARE AA+(SO)   5800    Reaffirmed
(enhanced from Rs. 280.00 ) * backed by letter of comfort from Dewan Housing Finance Corporation
Limited (DHFL)

Diganta Mudrana Ltd                   Bk Fac             -              -       Suspended
Digital Subscriber Management &       Bk Fac                                    Withdrawn
Consultancy Services Pvt Ltd
Divine Vidyut Ltd                     Bk Fac             -              -       Suspended
Dlite Blocks Pvt Ltd                  Bk Fac             -              -       Suspended
Duncans Industries Ltd                Bk Fac             -              -       Suspended
Dynamic(Cg) Equipments Pvt. Ltd.      LT Bk Fac          CARE D         490     Revised from
                                                                                CARE BB-
Eagle Infra India Ltd                 LT Bk Fac          CARE BBB+      1345    Revised from
                                                                                CARE BBB
Eagle Infra India Ltd                 LT / ST Fac        CARE BBB+;     3650    Revised from
                                                         /CARE A3+              CARE BBB/CARE
                                                                                A3+
Echanda Urja Pvt Ltd                  LT Bk limits       CARE BBB       5000    Reaffirmed
Eduestate                             Bk Fac             -              -       Suspended
Elektrolites (Power) Pvt Ltd          LT Bk Fac          CARE BBB-      16.8    Reaffirmed
Elektrolites (Power) Pvt Ltd          LT / ST Bk Fac     CARE BBB-      80      Assigned
Emt Megatherm Pvt. Ltd.               LT Bk Fac          CARE BB+       157.8   Reaffirmed
(reduced from 17.1 CR)
Emt Megatherm Pvt. Ltd.               LT / ST Bk Fac     CARE BB+ /CARE 250     Reaffirmed
                                                         A4+
Enrich Energy Pvt Ltd                 Bk Fac             -              -       Suspended
Equitas Small Finance Bank Ltd        Series A2 PTC      CARE A- (SO)   35.4    Assigned
Etco Industries Pvt Ltd               LT Bk Fac          CARE D         1405.6  Reaffirmed
Equitas Small Finance Bank Ltd        Series A1 PTC      CARE A+ (SO)   1592.7  Assigned
Essential Hospitality Pvt Ltd         NCDs (NCDs)        CARE AA (SO)*  1000    Assigned
*based on the credit enhancement in the form of structured payment mechanism backed by Put
Option which can be exercised on Dewan Housing Finance Corporation Limited (DHFL, rated CARE
AAA/AA+) requiring DHFL to purchase the NCDs under certain stipulated events from the Investor
at a Put Option Amount (i.e. Principal + Accrued Interest+ All other dues) within seven days 
Etco Denim Pvt Ltd                    LT / ST Bk Fac     CARE D         1129.9  Revised from
                                                                                CARE C/ CARE
                                                                                A4
Etco Denim Pvt Ltd                    LT Bk Fac          CARE D         2464.5  Revised from
                                                                                CARE C
Evershine Oleochem Ltd                Bk Fac             -              -       Suspended
Excel Associates Pvt Ltd              LT Bk Fac          CARE BBB-      42.2    Reaffirmed
Executive Trading Company Pvt Ltd     Bk Fac             -              -       Suspended
Express Warehousing Ltd               Bk Fac             -              -       Suspended
Ezone Strips Pvt Ltd                  Bk Fac             -              -       Suspended
Family Credit Ltd                     Perpetual Debt     CARE AA        1000    Reaffirmed
Family Credit Ltd                     Subordinated Debt  CARE AA+       3250    Reaffirmed
Family Credit Ltd                     LT Borrowing       CARE AA+       23000   Reaffirmed
                                      Programme
Fine Components And Tools Pvt Ltd     LT Bk Fac          CARE BBB+      198     Reaffirmed
Five-Star Business Finance Ltd        LT Bk Fac          CARE BBB+      2500    Revised from
                                                                                CARE BBB
[Enhanced from 150 CR]
Five-Star Business Finance Ltd        Proposed NCD issue CARE BBB+      750     Assigned
Fonroche Raajhans Energy Pvt Ltd      LT Fac (TL)        CARE A-        410     Placed on
                                                                                credit watch
Fonroche Saaras Energy Pvt Ltd        LT Fac (TL)        CARE A-        1290    Placed on
                                                                                credit watch
Gajraj Steels Pvt Ltd                 Bk Fac             -              -       Suspended
Gandhi Spices Pvt Ltd                 Bk Fac             -              -       Suspended
Garve Motors Pvt Ltd                  LT Bk Fac          CARE B+        160     Revised from
                                                                                CARE B
Gei Industrial Systems Ltd            Bk Fac             -              -       Suspended
Gemscab Industries Ltd                LT Bk Fac (FB)     CARE BBB       710.8   Reaffirmed
General Optics (Asia) Ltd             LT Bk Fac          CARE A-        30.3    Reaffirmed
(reduced from 3.08 CR)
General Optics (Asia) Ltd             LT / ST Bk Fac     CARE A- /CARE  180     Reaffirmed
                                                         A2+
Genesis Institute Of Medical Sciences Bk Fac                                    Suspended
Pvt Ltd
Genius Propbuild Pvt Ltd              Bk Fac             -              -       Suspended
Gitansh International Pvt Ltd         Bk Fac             -              -       Suspended
Globeop Financial Services (India) PvtLT Instruments-NCD CARE BBB-      3000    Assigned
Ltd                                   (NCD) -Proposed
                                      issue
Gnandrum Enterprises                  Bk Fac             -              -       Suspended
Goel Roadways                         Bk Fac             -              -       Suspended
Gramco Infratech Pvt Ltd              Bk Fac             -              -       Suspended
Granth Pharmaceuticals Pvt Ltd        Bk Fac             -              -       Suspended
Grasim Bhiwani Textiles Ltd           LT Bk Fac          CARE AAA (SO)  454.5   Reaffirmed
Grasim Bhiwani Textiles Ltd           LT Bk Fac^         CARE AAA (SO)  240     Reaffirmed
^ 'Provisional' rating has been assigned based on Letter of Comfort proposed to be provided by
Grasim Industries Ltd for the given bank facilities. Final rating would be assigned on
verification of the executed Letter of Comfort (LOC). 
Greenlam Industries Ltd               LT Bk Fac          CARE A+        2201.5  Revised from
                                                                                CARE A
(reduced from Rs.230.50 CR)
Grj Distributors And Developers Pvt   Bk Fac             -              -       Suspended
Ltd
Gujarat Cables And Enamelled Products Bk Fac             -              -       Suspended
Pvt Ltd
Guna Sheopur Pathways Pvt Ltd         LT Bk Fac          CARE BBB+      693.8   Reaffirmed
Guna Sheopur Pathways Pvt Ltd         LT / ST Bk Fac     CARE BBB+;     50.8    Reaffirmed
                                                         /CARE A3+
Gurudev Corporation                   Bk Fac             -              -       Suspended
Gurukrupa Krafts Pvt Ltd              LT Bk Fac          CARE BBB-      97.3    Reaffirmed
(reduced from 16.66 CR)
H L Promoters Pvt Ltd                 LT Bk Fac          CARE AA -      -       Reaffirmed
H.B. Ravi Kumar                       LT Bk Fac          CARE BB        60      Revised from
                                                                                CARE B+
(enhanced from Rs. 4.00 crore)
Haldyn Glass Ltd                      LT Bk Fac (FB)     CARE BBB+      203     Assigned
Hansdeep Industries & Trading Co. Ltd NCD issue          CARE AA(SO)@   4750    Reaffirmed
@ backed by unconditional and irrevocable corporate guarantees by JK Lakshmi Cement Limited
(JKLC, rated 'CARE AA; Stable/CARE A1+') and structured payment mechanism. 
Hansdeep Industries & Trading Co. Ltd NCD issue          CARE AA(SO)@   500     Reaffirmed
@ backed by unconditional and irrevocable corporate guarantees by JK Lakshmi Cement Limited
(JKLC, rated 'CARE AA; Stable/CARE A1+') and structured payment mechanism. 
Hari Machines Ltd                     Bk Fac             -              -       Suspended
Harsh Polymers                        Bk Fac                                    Suspended
Hind Charity Trust                    LT Bk Fac          CARE BB        300     Assigned
Hitech Print Systems Ltd              Bk Fac             -              -       Suspended
Horizon Microtech Pvt Ltd             Bk Fac             -              -       Suspended
Hriday Fincorp Pvt Ltd                LT Bk Fac          CARE BB        30      Assigned
Hriday Fincorp Pvt Ltd                Proposed NCD Issue CARE BB        70      Assigned
Hyderabad Nursing Home Pvt Ltd        Bk Fac             -              -       Suspended
Icici Bank                            Additional Tier I  CARE AA+       35000   Assigned
                                      Bond (Basel III)#
#CARE has rated the aforesaid Basel III Compliant Tier-I Perpetual Bonds after taking into
consideration its key features as mentioned below:  The bank has full discretion at all times
to cancel coupon payments.  The coupon is to be paid out of current year profits. However, if
the current year's profits are not sufficient, i.e., payment of such coupon is likely to result
in losses during the current year, the balance of coupon payment may be made out of revenue
reserves and/or credit balance in profit and loss account provided the bank meets the minimum
regulatory requirements for Common Equity Tier I [CET I], Tier I and Total Capital Ratios and
capital buffer frameworks as prescribed by the Reserve Bank of India.  The instrument may
be written-down upon CET I breaching the pre-specified trigger of 5.5% before March 31, 2019,
and 6.125% on and after March 31, 2019, or written-off / converted into common equity shares on
occurrence of the trigger event called point of non-viability (PONV). The PONV trigger shall be
determined by RBI. 
Icici Bank                            Unsecured          CARE AAA       350000  Reaffirmed
                                      redeemable bonds
                                      (infrastructure bonds)
Icici Bank                            Lower Tier II BondsCARE AAA       169590  Reaffirmed
Icici Bank                            Upper Tier II BondsCARE AAA       97500   Reaffirmed
Icici Bank                            Perpetual Bonds    CARE AAA       13010   Reaffirmed
                                      (Basel II)
Icici Bank                            Lower Tier II      CARE AAA       1368    Reaffirmed
                                      Bonds (erstwhile
                                      Bk of Rajasthan)
Icici Bank                            Upper Tier II      CARE AAA       611     Reaffirmed
                                      Bonds (erstwhile
                                      Bk of Rajasthan)
Icici Bank                            Unsecured          CARE AAA       14410   Reaffirmed
                                      redeemable bonds
                                      (erstwhile ICICI Ltd.)
Icici Bank                            Unsecured          CARE AAA       870     Reaffirmed
                                      redeemable bonds
Icici Home Finance Co. Ltd            Senior Bonds       CARE AAA       72000   Reaffirmed
Icici Home Finance Co. Ltd            Sub. Bonds         CARE AAA       5000    Reaffirmed
Idfc Infra Debt Fund Ltd              NCD issue          CARE AAA       25000   Reaffirmed
Ikf Finance Ltd                       Series A PTCs      CARE A- (SO)           Assigned
Ikf Finance Ltd                       Series A PTCs      CARE A-(SO)    242.4   Assigned
India Dairy Feeds Pvt Ltd             Bk Fac             -              -       Suspended
India Pesticides Ltd                  Bk Fac - FB - LT   CARE A-        132     Revised from
                                                                                CARE BBB+
India Pesticides Ltd                  Bk Fac - Fund      CARE A- /CARE  450     Revised from
                                      Based - LT/ST      A2+                    CARE BBB+ /
                                      -Working Capital Limit                    CARE A3+
Indiabulls Housing Finance Ltd        Series A PTC       CARE AAA(SO)   2090.6  Assigned
Indian Additives Ltd                  LT Bk Fac          CARE AA        250     Reaffirmed
Indian Additives Ltd                  LT/ ST Bk Fac      CARE AA;       40      Reaffirmed
                                                         /CARE A1+
Indian Hospitex Pvt Ltd               LT Bk Fac          CARE BB        80      Revised from
                                                                                CARE BB+
Indian Machine Tools Manufacturers'   LT Bk Fac          CARE BBB+      1840    Reaffirmed
Association
Indigo Multifab Pvt Ltd               Bk Fac             -              -       Suspended
Indira Container Terminal Pvt Ltd     Bk Fac             -              -       Suspended
Indostar Capital Finance Ltd          LT debt programme  CARE AA-       37500   Reaffirmed
Inducto Steel Ltd                     Bk Fac             -              -       Suspended
Infutec Healthcare Ltd                Bk Fac             -              -       Suspended
Intergold (India) Pvt Ltd             LT Bk Fac (Fund    CARE A-        -       Reaffirmed
                                      Based)
Irb Westcoast Tollways Pvt Ltd        LT Bk Fac@         CARE BBB(SO)   14060   Reaffirmed
@ backed by Irrevocable and unconditional Corporate Guarantee from IRB Infrastructure Developers
Limited (IRB) to the effect that it shall provide an interest-free unsecured loan to meet
shortfall in interest / debt servicing of the Loan from Scheduled Six-Laning Date(SSLD) till
DSCR of 1.10x(without promoter support) is reached 
Isc Projects Pvt Ltd                  LT Bk Fac          CARE BBB;      60      Reaffirmed
J.K. Cement Ltd                       LT Bk Fac          CARE AA-       21557.4 Reaffirmed
J.K. Cement Ltd                       LT NonConvertible  CARE AA-       6650    Reaffirmed
                                      Debentures (NCD)
                                      (Aggregate)
J.K. Cement Ltd                       Proposed LT        CARE AA-       500     Reaffirmed
                                      NonConvertible
                                      Debentures
J.S. Woollen Mills                    Bk Fac             -              -       Suspended
Jai Hind Sugar Pvt Ltd                Bk Fac             -              -       Suspended
Jain Ispat                            Bk Fac             -              -       Suspended
Jaiprakash Associates Ltd             LT Bk Fac          CARE D         217863  Reaffirmed
Jaiprakash Associates Ltd             LT/ST Bk Fac       CARE D         53879.7 Reaffirmed
Jaiprakash Associates Ltd             LT NCDs            CARE D         27133.3 Reaffirmed
                                      (aggregate) IV,
                                      VIII, X, XI, XII, XIII
Jaypee Infratech Ltd                  LT NCD - II        -              -       Withdrawn
Jaypee Infratech Ltd                  LT NCD - III       -              -       Withdrawn
Jaypee Infratech Ltd                  LT Bk Fac          CARE D         65500   Reaffirmed
Jaypee Infratech Ltd                  LT NCD - IV        CARE D         2119.5  Reaffirmed
Jewel Star                            Bk Fac             -              -       Suspended
Jk Lakshmi Cement Ltd                 LT Bk Fac          CARE AA        18429   Reaffirmed
Jk Lakshmi Cement Ltd                 LT NCD (NCD)       CARE AA        1297.9  Reaffirmed
Jk Lakshmi Cement Ltd                 LT NCD (NCD) -     CARE AA        3000    Reaffirmed
                                      Proposed
Jogvick Manufacturing And Trading Pvt Bk Fac             -              -       Suspended
Ltd
Johal & Company (Wine Sales) Pvt Ltd  Bk Fac             -              -       Suspended
Jwalaji Industries Pvt Ltd            Bk Fac             -              -       Suspended
K. Ramachandra Rao Transmission And   LT Bk Fac          CARE BBB+      200     Reaffirmed
Power Projects Pvt Ltd
K.C. Educational And Social Welfare   Bk Fac             -              -       Suspended
Society
K.C. Hostel                           Bk Fac             -              -       Suspended
K.P. Industries                       Bk Fac             -              -       Suspended
Kalka Home Developers Pvt Ltd         Bk Fac             -              -       Suspended
Kandla Motors Pvt Ltd                 Bk Fac             -              -       Suspended
Kerala Balers Pvt Ltd                 Long/ ST term Bk   CARE BB-       120     Revised from
                                      Fac                                       CARE B+/A4
Khaitan Electricals Ltd               Bk Fac             -              -       Suspended
Khedut Solvexp Pvt Ltd                LT Bk Fac          CARE BB        462.9   Reaffirmed
Khyati Foods Pvt Ltd                  Bk Fac             -              -       Suspended
King Yarns Pvt Ltd                    LT Bk Fac          CARE BB-       570     Assigned
Kiran Bawa Hotels Pvt Ltd             Bk Fac             -              -       Suspended
Kisan Oleochem & Derivatives Pvt Ltd  Bk Fac             -              -       Suspended
Kishan Agro Product                   LT Bk Fac          CARE BB        69.3    Assigned
Kothari Agritech Pvt Ltd              Bk Fac             -              -       Suspended
Kriday Realty Pvt Ltd                 LT Bk Fac          CARE AA        900     Reaffirmed
Krupadeep Traders                     Bk Fac             -              -       Suspended
L&T Finance Holdings Ltd              NCD                CARE AA+       4500    Reaffirmed
L&T Finance Holdings Ltd              Compulsorily       CARE AA+ (RPS) 30000   Reaffirmed
                                      Redeemable
                                      NonConvertible Cumulative PS
L&T Finance Ltd                       Perpetual Debt     CARE AA        2000    Reaffirmed
L&T Finance Ltd                       NCD                CARE AA+       67250   Reaffirmed
L&T Finance Ltd                       Subordinated Debt  CARE AA+       5750    Reaffirmed
L&T Finance Ltd                       LT Bk Fac          CARE AA+       76500   Reaffirmed
L&T Fincorp Ltd.                      Perpetual Debt     CARE AA        2000    Reaffirmed
L&T Fincorp Ltd.                      LT Bk Fac          CARE AA+       40000   Reaffirmed
L&T Fincorp Ltd.                      NCD                CARE AA+       28000   Reaffirmed
L&T Fincorp Ltd.                      Subordinated debt  CARE AA+       4000    Reaffirmed
L&T Housing Finance Ltd               Perpetual Debt     CARE AA        1000    Reaffirmed
L&T Housing Finance Ltd               LT Bk Fac          CARE AA+       21500   Reaffirmed
L&T Housing Finance Ltd               NCD                CARE AA+       49500   Reaffirmed
L&T Housing Finance Ltd               Subordinated Debt  CARE AA+       3000    Reaffirmed
L&T Infrastructure Finance Co. Ltd    Perpetual debt     CARE AA        4000    Reaffirmed
L&T Infrastructure Finance Co. Ltd    LT Bk Fac          CARE AA+       80000   Reaffirmed
L&T Infrastructure Finance Co. Ltd    NCD                CARE AA+       95000   Reaffirmed
L&T Infrastructure Finance Co. Ltd    Infrastructure     CARE AA+       18000   Reaffirmed
                                      Bonds
L&T Infrastructure Finance Co. Ltd    Subordinated Bonds CARE AA+       15000   Reaffirmed
Lagnam Spintex Pvt Ltd                Bk Fac             -              -       Suspended
Last Mile Vas Management Ltd          Bk Fac             -              -       Suspended
Lavasa Corporation Ltd                CCPS               CARE C (SO)    5250    Revised from
                                                                                CARE B (SO)
Lavasa Corporation Ltd                LT Bk Fac - TL     CARE D         3963.3  Reaffirmed
Lavasa Corporation Ltd                LT Bk Fac - TL     CARE D         5478.1  Reaffirmed
Lavasa Corporation Ltd                LT Instruments -   CARE D         963.9   Reaffirmed
                                      NCD I
Lavasa Corporation Ltd                LT Instruments -   CARE D         2500    Reaffirmed
                                      NCD IV
Lavasa Corporation Ltd                LT Instruments -   CARE D         1144.5  Reaffirmed
                                      NCD V
Lemon Tree Land & Developers Pvt Ltd  LT Bk Fac          CARE AA -      2000    Reaffirmed
Liz Traders And Agents Ltd            LT / ST Bk Fac     CARE AA-/CARE  1500    Reaffirmed
                                                         A1+
Loknete Baburao Patil Agro Industries Bk Fac             -              -       Suspended
Ltd
M S Metals And Steels Pvt Ltd         LT Bk Fac - FB     CARE A-        1600    Reaffirmed
(enhanced from Rs.25 crore)
M. P. Power Management Co. Ltd        LT Bk Fac          CARE A- (SO)   1800    Reaffirmed
M. P. Power Management Co. Ltd        LT Bk Fac @        CARE A- (SO);  300     Revised from
                                                                                CARE A- (SO)
M. R. Weaving Mills Pvt Ltd           LT Bk Fac          CARE BB-       808     Reaffirmed
M. R. Weaving Mills Pvt Ltd           LT / ST Bk Fac     CARE BB- /CARE 30      Reaffirmed
                                                         A4
M.B. Patil Constructions Ltd          LT Bk Fac          CARE BBB       295     Assigned
Maa Tarini Industries Ltd             Bk Fac             -              -       Suspended
Madan'S Wine Stores Pvt Ltd           Bk Fac             -              -       Suspended
Madhusala Drinks Pvt Ltd              Bk Fac             -              -       Suspended
Madhya Bharat Power Corporation Ltd   LT Bk Fac          CARE BB+       7718.8  Reaffirmed
(Enhanced from Rs.380.80 crore)
Mahaan Proteins Ltd                   Bk Fac                                    Suspended
Maharashtra Solvent Extraction Pvt LtdLT / ST Bk Fac     CARE BBB-      647     Reaffirmed
Maharashtra State Electricity         LT Bk Fac          CARE A+ (SO)   60000   Reaffirmed
Distribution Co. Ltd
(Enhanced from Rs.5,000 crore)
Maharashtra State Electricity         Proposed NCD       CARE A+ (SO);  5000    Reaffirmed
Distribution Co. Ltd
Mahindra And Mahindra Financial       Proposed NCD       CARE AAA       32000   Reaffirmed
Services Ltd.
Mahindra And Mahindra Financial       Proposed           CARE AAA       10000   Reaffirmed
Services Ltd.                         Subordinated debt
                                      (public issue)
Mahindra And Mahindra Financial       Proposed           CARE AAA       6000    Reaffirmed
Services Ltd.                         Subordinated debt
Mahindra Rural Housing Finance Ltd    NCD                CARE AA+       3000    Reaffirmed
Mahindra Rural Housing Finance Ltd    Subordinated Debt  CARE AA+       2000    Reaffirmed
Mahindra Rural Housing Finance Ltd    Issuer Rating      CARE AA+ (Is)  -       Reaffirmed
Manappuram Finance Ltd                LT Bk Fac          CARE AA-       56800   Reaffirmed
[enhanced from Rs.3,715 crore]
Manappuram Finance Ltd                NCD issue -I       CARE AA-       4000    Reaffirmed
Manappuram Finance Ltd                NCD issue -II      CARE AA-       1500    Reaffirmed
Manappuram Finance Ltd                NCD issue -III     CARE AA-       400     Reaffirmed
Manawar Kukshi Tollways Pvt Ltd       LT Bk Fac          CARE BBB       540.4   Reaffirmed
Mangalam Ventures Ltd                 LT Bk Fac          CARE BB+       104.3   Reaffirmed
[Reduced from Rs.10.65 crore]
Margdarshak Financial Services Ltd    Bk Fac             -              -       Suspended
Mariana Foods Pvt Ltd                 Bk Fac             -              -       Suspended
Mauli Metal Industries Pvt Ltd        Bk Fac             -              -       Suspended
Meghalaya Cements Ltd                 LT Bk Fac          CARE A         800     Reaffirmed
Mehsana District Cooperative Milk     LT Bk Fac          CARE AA+       4334.5  Reaffirmed
Producers' Union Ltd
Mehsana District Cooperative Milk     LT / ST Bk Fac     CARE AA+ /CARE 6736    Reaffirmed
Producers' Union Ltd                                     A1+
Mercator Ltd                          LT Bk Fac          CARE BBB       11998.3 placed on
                                                                                credit watch
                                                                                with developing
implications
Mercator Ltd                          NCD                CARE BBB       1500    placed on
                                                                                credit watch
                                                                                with developing
implications
Mercator Oil And Gas Ltd              LT Bk Fac          CARE BBB(SO)   992     placed on
                                                                                credit watch
                                                                                with developing
implications
Meril Diagnostics Pvt Ltd             LT Bk Fac          CARE AA- (SO)  420     Reaffirmed
Meril Diagnostics Pvt Ltd             LT / ST Bk Fac     CARE AA- (SO)  300     Reaffirmed
                                                         /CARE A1+
(Enhanced from Rs.25 crore)
Meril Endo Surgery Pvt Ltd            LT Bk Fac          CARE AA-(SO)   287.5   Reaffirmed
(Enhanced from Rs.23.75 crore)
Meril Endo Surgery Pvt Ltd            LT / ST Bk Fac     CARE AA-(SO)   380     Reaffirmed
                                                         /CARE A1+(SO)
(Enhanced from Rs.33 crore)
Meril Healthcare Pvt Ltd              LT Bk Fac          CARE AA- (SO)  360     Reaffirmed
(Enhanced from Rs.30.90 crore)
Meril Healthcare Pvt Ltd              LT / ST Bk Fac     CARE AA- (SO)  590     Reaffirmed
                                                         /CARE A1+(SO)
(Enhanced from Rs.43 crore)
Meril Life Sciences India Pvt Ltd     LT / ST Bk Fac     CARE AA- (SO)  600     Reaffirmed
                                                         /CARE A1+(SO)
Meril Life Sciences Pvt Ltd           LT Bk Fac          CARE A-        500     Reaffirmed
(Enhanced from Rs.20 crore)
Meril Life Sciences Pvt Ltd           LT / ST Bk Fac     CARE A- /CARE  100     Assigned
                                                         A2+
Meril Life Sciences Pvt Ltd           LT / ST Bk Fac     CARE AA- (SO)  1000    Reaffirmed
                                                         /CARE A1+(SO)
(Enhanced from Rs.84 crore)
Milestone Opportunities Fund 10       outstanding        CARE AA+       -       Assigned
Minar Ispat                           Bk Fac             -              -       Suspended
Mitra Infratech Pvt Ltd               LT Bk Fac          CARE BBB+ (SO) 1167.2  Reaffirmed
Monnet Ispat & Energy Ltd             Bk Fac             -              -       Suspended
Msm Steels Pvt Ltd                    Bk Fac             -              -       Suspended
Mukesh Industries Ltd                 Bk Fac             -              -       Suspended
Nand Infrastructure & Projects        Bk Fac             -              -       Suspended
Narayan Spinning Mills Pvt Ltd        Bk Fac             -              -       Suspended
Narsingh Ispat Ltd                    Bk Fac             -              -       Suspended
Narsingh Ispat Udyog Pvt Ltd          Bk Fac             -              -       Suspended
Nash Fashion (India) Ltd              Bk Fac             -              -       Suspended
National Highways Authority Of India  Proposed LT        CARE AAA       550000  Reaffirmed
                                      Borrowing
                                      Programme for FY17
Navin Cotton Fiber                    Bk Fac             -              -       Suspended
Navjyot International Trading Pvt Ltd Bk Fac             -              -       Suspended
Needle Eye Plastic Industries Pvt Ltd Bk Fac             -              -       Suspended
Nidhi Ginning Industries              Bk Fac             -              -       Suspended
Noor Impex Pvt Ltd                    LT/ ST Bk Fac      CARE BB-;      150     Assigned
                                                         Stable/CARE A4
North Street Cooling Towers Pvt Ltd   LT Bk Fac          CARE BB-       58      Reaffirmed
Ntpc Ltd                              LT Bk Fac          CARE AAA       670000  Reaffirmed
Ntpc Ltd                              Outstanding LT     CARE AAA       275453.3Reaffirmed
                                      Bonds
Ntpc Ltd                              LT Bonds program   CARE AAA       100000  Reaffirmed
                                      for FY17
Oasis Overseas Exports Pvt Ltd        Bk Fac             -              -       Suspended
Orvi Design Studio                    Bk Fac             -              -       Suspended
P.S. Seth Sons Jewellers Pvt Ltd      Bk Fac             -              -       Suspended
Pack Paper Agencies Pvt Ltd           LT / ST Bk Fac     CARE BB- /CARE 105     Reaffirmed
                                                         A4
Paithan Mega Food Park Pvt Ltd        LT Bk Fac          CARE BB(SO)    436     Assigned
(Enhanced from 25.00 CR)
Pal Shellcast Pvt Ltd                 Bk Fac             -              -       Suspended
Palette International                 LT Bk Fac          CARE BB        100     Revised from
                                                                                CARE BB+
Pallishree Ltd.                       LT Bk Fac          'CARE A-       670     Reaffirmed
Pallishree Ltd.                       LT Bk Fac          CARE A-        670     Reaffirmed
Parenteral Drugs (India) Ltd          Bk Fac             -              -       Suspended
Parenteral Surgicals Ltd              Bk Fac             -              -       Suspended
Patil Construction And Infrastructure LT Bk Fac          CARE BBB       2270    Assigned
Ltd
Payorite Print Media Pvt Ltd          Bk Fac             -              -       Suspended
Peb Steel Lloyd (India) Ltd           Bk Fac             -              -       Suspended
Pengg Usha Martin Wires Pvt Ltd       LT Bk Fac          CARE A-        199.2   Reaffirmed
(reduced from 23.63 CR)
Pengg Usha Martin Wires Pvt Ltd       LT / ST Bk Fac     CARE A- /CARE  100     Reaffirmed
                                                         A2
Pest Control (India) Pvt Ltd          LT Bk Fac          CARE A         250     Reaffirmed
(enhanced from Rs. 4.92 crore)
Pest Control (India) Pvt Ltd          LT / ST Bk Fac     CARE A /CARE A1250     Reaffirmed
(enhanced from Rs. 19.50 crore)
Polestar Maritime Ltd                 LT Bk Fac          CARE A         1134.5  Assigned
Polestar Maritime Ltd                 LT / ST Bk Fac     CARE A /CARE A156.9    Assigned
Powerlite Electricals (India) Pvt Ltd LT Bk Fac          CARE B         50      Assigned
Pranaav Marathe Jewellers Pvt Ltd     Bk Fac             -              -       Suspended
Praveen Spinners India Pvt Ltd        LT Bk Fac          CARE BBB+(SO)  377.6   Reaffirmed
(reduced from Rs. 39.26 crore)
Premier Ltd                           Bk Fac             -              -       Suspended
Princeton Infrastructure Pvt Ltd      LT Bk Fac          CARE AA-       1200    Reaffirmed
(Enhanced from Rs. 75 crore)
Printwell Offset                      Bk Fac             -              -       Suspended
Progressive Civil Construction Co. PvtBk Fac             -              -       Suspended
Ltd.
Promont Hillside Pvt Ltd              NCD@               CARE AA (SO)   2000    Reaffirmed
@backed by an unconditional and irrevocable guarantee from Tata Housing Development Co Limited
Promont Hilltop Pvt Ltd               LT Bk Fac          CARE AA        1250    Reaffirmed
R.G.Shaw & Sons Pvt Ltd               Bk Fac             -              -       Suspended
R.R. Ornaments Pvt Ltd                LT Bk Fac          CARE B+        60.1    Reaffirmed
Radhaballabh Silk Mills Pvt Ltd       Bk Fac             -              -       Withdrawn
Radhika Construction                  Bk Fac             -              -       Suspended
Rahul Cotton Factory Pvt Ltd          Bk Fac             -              -       Suspended
Rahul Pam Pvt Ltd                     Bk Fac             -              -       Suspended
Rajasthan Electronics And Instruments LT Bk Fac          CARE BBB+      100     Assigned
Ltd
Rajasthan Electronics And Instruments LT / ST Bk Fac     CARE BBB+      350     Reaffirmed
Ltd                                                      /CARE A3+
Rajeshree Cotex                       LT Bk Fac          CARE BB-       100     Reaffirmed
Rajeshree Cotex                       Long -term/ST Fac  CARE BB-/CARE  180     Reaffirmed
                                                         A4
Rajeshree Fibers                      LT Bk Fac          CARE BB-       80      Reaffirmed
Rajeshree Industries India Pvt Ltd    LT Bk Fac          CARE BB-       200     Reaffirmed
Rajgad Sahakari Sakhar Karkhana Ltd   Bk Fac             -              -       Suspended
Rajsamadhiyala Spintex Pvt Ltd        LT Bk Fac          CARE BB        100     Assigned
Rajsamadhiyala Spintex Pvt Ltd        LT / ST Bk Fac     CARE BB /CARE  300     Assigned
                                                         A4+
Rama Power And Steel Pvt Ltd          Bk Fac             -              -       Suspended
Ramdev Sugars Pvt Ltd                 LT Bk Fac          CARE BBB-      258.7   Reaffirmed
(Reduced from 26.99 CR)
Rani Constructions Pvt Ltd            Bk Fac             -              -       Suspended
Ranjan Suitings Pvt Ltd               Bk Fac             -              -       Suspended
Rasoya Proteins Ltd                   Bk Fac             -              -       Suspended
Ratnamani Healthcare Pvt Ltd          Bk Fac             -              -       Suspended
Reach Logistics Pvt Ltd               Bk Fac             -              -       Suspended
Real Strips Ltd                       Bk Fac             -              -       Suspended
Reliance Capital Ltd                  Sub-ordinated Debt CARE AA+       20000   Continues on
                                                                                "credit watch"
Reliance Capital Ltd                  LT Debt Programme  CARE AAA       250000  Continues on
                                                                                "credit watch"
Reliance Capital Ltd                  Market Linked      CARE PP-MLD AAA10000   Continues on
                                      Debentures                                "credit watch"
Reliance Home Finance Ltd             Upper Tier II      CARE AA        1000    Reaffirmed
                                      Bonds -Private
                                      Placement
Reliance Home Finance Ltd             Upper Tier II      CARE AA        5000    Reaffirmed
                                      Bonds -Public issue
Reliance Home Finance Ltd             LT debt            CARE AA+       80000   Reaffirmed
Reliance Home Finance Ltd             NCDs public issue  CARE AA+       30000   Reaffirmed
Reliance Home Finance Ltd             Subordinate debt   CARE AA+       4000    Reaffirmed
Reliance Home Finance Ltd             Principal          CARE PP-MLD AA+3000    Reaffirmed
                                      Protected Market
                                      Linked Debentures
Riwasa Tiles Ltd                      LT Bk Fac          CARE BBB-      139.9   Reaffirmed
Ruchi Infrastructure Ltd              Bk Fac             -              -       Suspended
Ruchi Worldwide Ltd                   Bk Fac             -              -       Suspended
S. V. Aluext Profile Pvt Ltd          LT Bk Fac          CARE BB        90      Reaffirmed
Sabarkantha District Cooperative Milk LT Bk Fac          CARE AA+       2072.4  Reaffirmed
Producers Union Ltd
(reduced from 292.24 CR)
Sachika Trading Pvt Ltd               Bk Fac             -              -       Suspended
Salsan Steels Pvt Ltd                 Bk Fac             -              -       Suspended
Sanjay Soya Pvt Ltd                   LT Bk Fac          CARE BBB-      230.4   Reaffirmed
Sanshu Green Corn Pvt Ltd             Bk Fac             -              -       Suspended
Sarla Holdings Pvt Ltd                Bk Fac             -              -       Suspended
Sarvodaya Agrotech (India) Ltd        Bk Fac             -              -       Suspended
Sarvottam Realcon Pvt Ltd             Bk Fac             -              -       Suspended
Satyanarayan Tea Company Pvt Ltd      Bk Fac             -              -       Suspended
Savitribai Phule Shikshan Prasarak    Bk Fac             -              -       Suspended
Mandal
Shanthi Feeds Pvt Ltd                 LT Bk Fac          CARE BBB+      981.1   Reaffirmed
(reduced from 110.50 CR)
Shanti Motors                         LT Bk Fac          CARE BB-       55.8    Assigned
Shiva Cement Ltd                      LT Bk Fac          CARE D         454.4   Revised from
                                                                                CARE BB
Shivom Minerals Ltd                   LT Bk Fac          CARE D         450     Revised from
                                                                                CARE BB-
Shlogam Agro Pvt Ltd                  ST Bk Fac          'CARE D        300     Reaffirmed
Shree Bhavani Cleaning                Bk Fac             -              50      Withdrawn
Shree Bhimeshwari Ispat Pvt Ltd       Bk Fac             -              -       Suspended
Shree Siddhivinayak Ispat Pvt Ltd     Bk Fac             -              -       Suspended
Shri Agrawal Education And Welfare    Bk Fac             -              -       Withdrawn
Society
Shri Krishna Cold Storage             Bk Fac             -              -       Suspended
Shri Maa Polyfabs Ltd                 Bk Fac             -              -       Withdrawn
Shri Muniveer Spinning Mills          Bk Fac             -              -       Suspended
Shri Murlidhar Industries Pvt Ltd     LT Bk Fac #        CARE BB (SO)   453.5   Assigned
# The above rating is based on the credit enhancement in the form of unconditional and
irrevocable corporate guarantee of Khedut Solvexp Private Limited (KS
Shri Uma Plastic Industries Pvt Ltd   Bk Fac             -              -       Suspended
Simplex Castings Ltd                  Bk Fac             -              -       Suspended
Singhal Industries Pvt Ltd            Bk Fac             -              -       Suspended
Sinhgad Technocal Education Society   Bk Fac                                    Suspended
Sitaram Gems                          Bk Fac             -              -       Suspended
Sitaram Maharaj Sakhar Karkhana       Bk Fac             -              -       Suspended
(Khardi) Ltd
Slec Infra Projects Pvt Ltd           LT Bk Fac          CARE BB        270     Revised from
                                                                                CARE BB-
Sm Jdb Estates Pvt Ltd                Bk Fac             -              -       Suspended
Smart Value Homes (Boisar) Pvt Ltd    LT Bk Fac          CARE AA        500     Reaffirmed
Smart Value Homes (Peenya Project) PvtLT Bk Fac          CARE AA        2000    Reaffirmed
Ltd
Sms Polymers Industries               Bk Fac             -              -       Suspended
Sneh Sadan Traders And Agents Ltd     LT / ST Bk Fac     CARE AA-/CARE  2750    Reaffirmed
                                                         A1+
Solapur Yedeshi Tollway Pvt Ltd       LT Bk Fac@         CARE BBB(SO)   910     Reaffirmed
@backed by irrevocable and unconditional corporate guarantee provided by IRB Infrastructure
Developers Limited (IRB) to the effect that it shall provide int
South Eastern Carriers Pvt Ltd        Bk Fac             -              -       Suspended
South India Exim Pvt Ltd              Bk Fac             -              -       Suspended
Sri Ram Technopack Pvt Ltd            LT Bk Fac          CARE B+        49      Assigned
Srikalahasthi Pipes Ltd               LT Bk Fac          CARE A+        3565.6  Reaffirmed
Steel Authority Of India Ltd          ST CP/ICD ProgrammeCARE A1+       80000   Reaffirmed
Steel Authority Of India Ltd          LT Bond Programme-ICARE AA        43230   Revised from
                                                                                CARE AA+
Steel Authority Of India Ltd          LT Bond            CARE AA        30000   Revised from
                                      Programme-II                              CARE AA+
Steel Authority Of India Ltd          LT Bond            CARE AA        60000   Revised from
                                      Programme-III                             CARE AA+
Steel Authority Of India Ltd          LT Bond            CARE AA        20000   Revised from
                                      Programme-IV                              CARE AA+
Steel Authority Of India Ltd          Proposed LT Bond   CARE AA        20000   Assigned
                                      Programme-V
Steel Authority Of India Ltd          Proposed LT Public CARE AA        10000   Revised from
                                      Deposit Programme                         CARE AA+
Sterling Ceramics                     LT Bk Fac          CARE BB+       57.2    Reaffirmed
Sterling Ceramics                     LT/ST Bk Fac       CARE BB+ ;     7.5     Reaffirmed
                                                         Stable/CARE A4+
Sujana Metal Products Ltd             LT Bk Fac          CARE D         17018.4 Reaffirmed
Sukavala Renewable Energy Pvt Ltd     LT Bk Fac          CARE BBB       3967.5  Assigned
Sundaram Jewelry                      Bk Fac             -              -       Suspended
Surana Power Ltd                      Bk Fac             -              -       Suspended
Suryoday Micro Finance Ltd            Series A PTC       CARE A-(SO)    461.8   Assigned
Sushil Udyog                          Bk Fac             -              -       Suspended
Suzuki Textiles Ltd                   LT Bk Fac          CARE C         1438.7  Reaffirmed
Talwar Mobiles Pvt Ltd                LT Bk Fac          CARE BB        250     Reaffirmed
Tantia Raxaultollway Pvt Ltd          Bk Fac             -              -       Suspended
Tata Housing Development Co. Ltd      LT/ST Bk Fac       CARE AA /CARE  10600   Reaffirmed
                                                         A1+
Tata Value Homes Ltd                  CP (CP) issue      CARE A1+       2000    Reaffirmed
Tata Value Homes Ltd                  LT Bk Fac          CARE AA        3000    Reaffirmed
Tata Value Homes Ltd                  NCD issue          CARE AA        4000    Reaffirmed
Tatva Global Environment (Deonar) Ltd Bk Fac             -              -       Suspended
Tcpl Packaging Ltd                    Bk Fac             -              -       Withdrawn
Tcpl Packaging Ltd                    Bk Fac             -              -       Withdrawn
Thatavarthi Apparels Ltd              LT Bk Fac          CARE BB        420     Reaffirmed
(reduced from Rs.45.75 CR)
The Alleppey Co. Ltd                  Long -term/ST Bk   CARE BB-       207     Revised from
                                      Fac                                       CARE B+/A4
Thermo Products Pvt Ltd               Bk Fac             -              -       Suspended
Thermosol Glass India Pvt Ltd         LT Bk Fac          CARE BB-       80      Assigned
Thermosol Glass India Pvt Ltd         LT/ST Bk Fac       CARE BB-;      10      Assigned
                                                         Stable/CARE A4
Tiger Steel Engineering (India) Pvt LtST Bk Fac          CARE A1+ (SO) ^360     Reaffirmed
^Credit enhancement in the form of an irrevocable standby letter of credit (SBLC) from Bank of
Sharjah.
Tiger Steel Engineering (India) Pvt   LT Bk Fac          CARE BB-;      235.7   Reaffirmed
Ltd
Tiger Steel Engineering (India) Pvt   Long/ST Bk Fac     CARE BB-;      55      Reaffirmed
Ltd                                                      /CARE A4
Titan Laboratories Pvt Ltd            Bk Fac             -              -       Suspended
Transformers & Rectifiers (India) Ltd LT / ST Bk Fac     CARE BBB+      1310    Reaffirmed
                                                         /CARE A3+
Transformers & Rectifiers (India) Ltd LT Bk Fac          CARE BBB+;     144.1   Reaffirmed
(reduced from 16.63cr)
Transformers & Rectifiers (India) Ltd LT / ST Bk Fac     CARE BBB+;     7230    Reaffirmed
                                                         Positive /CARE
                                                         A3+
Trinity Beverages Pvt Ltd             Bk Fac             -              -       Suspended
Ullattil Hotels & Spa Pvt Ltd         Bk Fac                                    Suspended
Um Cables Ltd                         LT Bk Fac          CARE BBB+      600.1   Reaffirmed
(reduced from 65.00 CR)
Universal Confectionery And Food      LT Bk Fac          CARE B         11.8    Assigned
Products Pvt Ltd
Universal Stainless                   LT Bk Fac          CARE B         87.5    Reaffirmed
U-Phase Infraprojects Pvt Ltd         LT Fac             CARE BBB+ (SO) 943.1   Reaffirmed
Usher Agro Ltd                        Bk Fac             -              -       Suspended
Utkarsh Micro Finance Ltd             NCDs (Proposed)    CARE A         160     Assigned
Uttam Value Steels Ltd                LT Bk Fac          CARE D         6400.7  Reaffirmed
Variegate Projects Pvt Ltd            Bk Fac             -              -       Suspended
Vaswani Industries Ltd                Bk Fac             -              -       Suspended
Vedant Starch Pvt Ltd                 Bk Fac             -              -       Suspended
Veekay Plast                          Bk Fac             -              -       Suspended
Vgp Marine Kingdom Pvt Ltd            Bk Fac             -              -       Suspended
Vijaydeep Silk Mills Pvt Ltd          Bk Fac             -              -       Withdrawn
Vijeta Beverages Pvt Ltd              Bk Fac             -              -       Suspended
Vilas Javdekar Eco Shelters Pvt Ltd   Bk Fac             -              -       Suspended
Virendra & Company                    LT Bk Fac          CARE BBB-      40      Reaffirmed
(Reduced from 6.50 CR)
Visa Power Ltd                        Bk Fac             -              -       Suspended
Visa Steel Ltd                        Bk Fac             -              -       Suspended
Vishnu Cotton Mills Ltd               LT Bk Fac          CARE BB-       115.5   Revised from
                                                                                CARE B+
(reduced from 13.46 CR)
Vnr Enterprise                        Bk Fac             -              -       Suspended
Vnr Enterprise                        Bk Fac             -              -       Suspended
Wellcare Oil Tools Pvt Ltd            LT Bk Fac          CARE BB-       28.9    Revised from
                                                                                B+
Wellcare Oil Tools Pvt Ltd            Long/ST Bk Fac     CARE BB-/CARE  10      Revised/
                                                         A4                     reaffirmed
                                                                                from B+/A4
Western Agri Food Park Pvt Ltd        Bk Fac             -              -       Suspended
Whistle Media Networks Pvt Ltd        Bk Fac             -              -       Suspended
Yantra Steels India Pvt Ltd           Bk Fac             -              -       Suspended
Yashas Frp Manufacturing Pvt Ltd      Bk Fac             -              -       Suspended
Yogiraj Export Pvt Ltd                LT Bk Fac          CARE BB        150     Reaffirmed
Yogiraj Ginning And Oil Industries PvtLT Bk Fac          CARE BB        155     Reaffirmed
Ltd
Zicom Electronic Security System Ltd  Bk Fac             -              -       Suspended
Zicom Saas Pvt Ltd                    Bk Fac             -              -       Suspended
--------------------------------------------------------------------------------------------
$: 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below