December 24, 2018 / 7:08 AM / 9 months ago

CARE ratings for Indian debt instruments-Dec 24

    Dec 24 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 21, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A & A Modular Systems                 ST Bk Fac          CARE A4        10
Reaffirmed and removal from (Issuer Not cooperating)
Ashok Timber Trading Co.              ST Bk Fac          CARE A4        250
(Issuer Not cooperating), based on best available information
B. D. Roadways                        ST Bk Fac          CARE A4+       3       Reaffirmed
B. S. Roadways                        ST Bk Fac          CARE A4+       3       Reaffirmed
Bhupinder Singh                       ST Bk Fac          CARE A4+       3       Reaffirmed
C K Fabrics Pvt Ltd                   ST Bk Fac          CARE A4        1.2     Reaffirmed
Cossmo Tex                            ST Bk Fac          CARE A4        37.5    Reaffirmed
Ecl Finance Ltd                       CP                 CARE A1+       50000   Reaffirmed
(enhanced from RS.3600 Crores)
Edelweiss Commodities Services Ltd    CP                 CARE A1+       85000   Reaffirmed
(Enhanced from Rs. 7,000 Crores)
Fibcom India Ltd                      ST Bk Fac          CARE A4        835.6   Reaffirmed
Indiabulls Housing Finance Ltd        Proposed CP issue  CARE A1+       150000  Assigned
Kaniska Garments                      ST Loan            CARE A4        40      Reaffirmed
M. G. Wadhwani                        ST Bk Fac          CARE A4        40      Reaffirmed
Maa Durga Engineering Works           ST Fac             CARE A4        5       Assigned
Mangala Electricals                   ST Bk Fac          CARE A4        52.3    Assigned
Pack Print Industries (India) Pvt Ltd ST Bk Fac          CARE A4        45      Reaffirmed
Raja Gopal Constructions              ST Bk Fac          CARE A4        30      Assigned
Raymond Luxury Cottons Ltd            ST Bk Fac          CARE A1        1320    Reaffirmed
[enhanced from 112.00crs]
S. G Sales Corporation                ST Bk Fac          CARE A4        40      Assigned
Satyeshwar Himghar Pvt Ltd            ST Bk Fac          CARE A4        1.8     Reaffirmed
Servotech Power Systems Ltd           ST BkFac           CARE A4+       35
(Issuer Not cooperating); Based on best available Information
Siddeshwar Multipurpose Heemghar Pvt LST Bk Fac          CARE A4        1.2     Reaffirmed
Sree Keerthi Tranport                 ST Bk Fac          CARE A4        15      Assigned
Surya Vidyut Ltd                      ST BkFac           CARE A2        150     Revised from
                                                                                CARE A3+
Timex Art Décor Pvt Ltd               ST Bk Fac          CARE A4        90      Reaffirmed
Uma Glass Works                       ST Bk Fac          CARE D         16.5    Revised from
                                                                                CARE A4
Urban Transit Pvt Ltd                 ST Bk Fac          CARE A4 (SO)*  100     Reaffirmed
*The ratings factor in credit enhancement in the form of an unconditional and irrevocable
corporate guarantee extended by promoters Scomi Engineering Bhd. (SEB) to the lenders of UTPL. 
Wockhardt Hospitals Ltd               ST Bk Fac          CARE A4+       500     Revised from
                                                                                CARE A3
Zee Media Corporation Ltd             ST Bk Fac – BG     CARE A1        380     Assigned
LONG TERM RATINGS:
-------------------
A & A Modular Systems                 LT Bk Fac          CARE B+        75
Revised from CARE B+ to CARE D and and upgraded to CARE B
Asa International India Microfinance LLT BkFac           CARE BBB       150     Revised from
                                                                                CARE BBB-
Ashok Timber Trading Co.              Long -term Bk Fac  CARE B+        75
(Issuer Not cooperating), based on best available information
B. D. Roadways                        LT Bk Fac          CARE BB-       90.7    Reaffirmed
B. S. Roadways                        LT Bk Fac          CARE BB-       89.9    Reaffirmed
Babli Warehouse                       LT Bk Fac          CARE B         55.7    Assigned
Balaji Malts Pvt Ltd                  LT Bk Fac          CARE BBB-      120     Reaffirmed
Bhupinder Singh                       LT Bk Fac          CARE BB-       87.2    Reaffirmed
C K Fabrics Pvt Ltd                   LT Bk Fac          CARE BB-       54.9    Reaffirmed
Cossmo Tex                            LT Bk Fac          CARE BB        14.1    Reaffirmed
(Enhanced from 1.17 Crores)
Dbl Ashoknagar Vidisha Tollways Ltd   LT Bk Fac          CARE A-        554.7   Reaffirmed
Dbl Bankhlafata Dogawa Tollways Ltd   LT Bk Fac          CARE A-        782.9   Reaffirmed
Dbl Jaora Sailana Tollways Ltd        LT Bk Fac          CARE A-        970.9   Reaffirmed
Dbl Nadiad Modasa Tollways Ltd        LT Bk Fac          CARE A         1052    Reaffirmed
Dbl Silwani Sultanganj Tollways Ltd   LT Bk Fac          CARE A-        737.4   Reaffirmed
Dbl Uchera Nagod Tollways Ltd         LT Bk Fac          CARE A-        687.5   Reaffirmed
Duet India Hotels (Pune) Pvt Ltd.     LT BkFac- TL       CARE BBB-      1514    Assigned
Duet India Hotels (Pune) Pvt Ltd.     LT BkFac- CC       CARE BBB-      50      Assigned
Dwaraka Tirumala Traders              LT Bk Fac          CARE B+        140     Assigned
Fibcom India Ltd                      LT Bk Fac          CARE BB-       464.4   Reaffirmed
Genus Innovation Ltd                  LT Bk Fac          CARE BBB-      281.7   Reaffirmed
(reduced from 44.20 Crores)
Genus Innovation Ltd                  LT/Shortterm Bk    CARE BBB-/A3   1315    Reaffirmed
                                      Fac
(enhanced from 124.60 Crores)
Haragouri Himghar Pvt Ltd             LT Bk Fac          CARE B         72.7    Reaffirmed
Joymakali Cold Storage Pvt Ltd        LT Bk Fac          CARE B+        56.2    Revised from
                                                                                CARE B
Kaniska Garments                      Term-Loan          CARE BB        98      Reaffirmed
(reduced from 10.80 Crores)
Kbs Diamonds                          LT Bk Fac          CARE BBB       -       Reaffirmed
M. G. Wadhwani                        LT Bk Fac          CARE B+        25      Reaffirmed
M. R. Weaving Mills Pvt Ltd           LT BkFac           CARE BB        731.2   Revised from
                                                                                CARE BB-
(reduced from 80.80 Crores)
M. R. Weaving Mills Pvt Ltd           LT/ST Bk Fac       CARE BB/A4     5       revised from
                                                                                CARE BB-
                                                                                /Reaffirmed
Maa Durga Engineering Works           LT Bk Fac          CARE BB-       50      Assigned
Mangala Electricals                   LT Bk Fac          CARE B+        34.7    Assigned
Narayan Cold Storage Pvt Ltd          LT Bk Fac          CARE B+        83.5    Revised from
                                                                                CARE B
Ongc Petro-Additions Ltd              NCDs(NCDs)         CARE AAA (SO)  30000   Final Rating
Pack Print Industries (India) Pvt Ltd LT Bk Fac          CARE BB        196.1   Reaffirmed
Pankaj Agro Protinex Ltd              LT Bk Fac          -              -       Withdrawn
Perfect Chemfood Industries           LT Bk Fac          -              -       Withdrawn
Popular Stores                        LT Bk Fac          CARE B         64.2    Assigned
Raja Gopal Constructions              LT Bk Fac          CARE BB-       70      Assigned
Raymond Luxury Cottons Ltd            LT Bk Fac          CARE A-        3149.3  Reaffirmed
[reduced from 334.93crs]
Royal Diam                            Long/ST Bk Fac     CARE BBB-      735
Shifted to (Issuer Not cooperating); Based on best available information
Royal Impex                           LT Bk Fac          -              -       Withdrawn
S. G Sales Corporation                LT Bk Fac          CARE BB-       15      Assigned
Sarvodaya Mining Services             LT / ST Bk Fac     CARE BBB/A3+   55      Reaffirmed
Satyeshwar Himghar Pvt Ltd            LT Bk Fac          CARE B         121.9   Reaffirmed
Segno Ceramics Pvt Ltd                LT Bk Fac          CARE D         330.3   Revised from
                                                                                CARE BB-
(Issuer Not cooperating)
Servotech Power Systems Ltd           LT BkFac           CARE BB+       102.6
(Issuer Not cooperating); Based on best available Information
Servotech Power Systems Ltd           Long/ST BkFac      CARE BB+/A4+   40
(Issuer Not cooperating); Based on best available Information
Shriniwas Education Society           LT BkFac           CARE BB+       121.3   Revised from
                                                                                CARE BBB-
Shyam Dhani Industries Pvt Ltd        LT Bk Fac          CARE BB-       128.1   Revised from
                                                                                CARE B+
Siddeshwar Multipurpose Heemghar Pvt LLT Bk Fac          CARE B         75.4    Reaffirmed
Sree Keerthi Tranport                 LT Bk Fac          CARE BB-       85      Assigned
Sri Shyam Jewellers                   LT Bk Fac          CARE BB-       50      Reaffirmed
Star Plastics                         LT Bk Fac          CARE BB        386.4   Reaffirmed
(enhanced from 19.38 Crores)
Sukavala Renewable Energy Pvt Ltd     LT Bk Fac          CARE A-        4216.4  Revised from
                                                                                CARE BBB+
(reduced from 432.00 Crores)
Surya Vidyut Ltd                      LT BkFac           CARE A-        6295.1  Revised from
                                                                                CARE BBB+
(reduced from 699.32 Crores)
The Gold Fort                         LT Bk Fac          CARE BB-       70      Reaffirmed
Timex Art Décor Pvt Ltd               LT Bk Fac          CARE BB+       75      Reaffirmed
Uma Glass Works                       LT Bk Fac          CARE D         82      Revised from
                                                                                CARE B
United Constructions And Projects     Long -term Bk Fac  CARE B+        106
Bangalore Pvt Ltd
(Issuer Not cooperating), based on best available information
Urban Transit Pvt Ltd                 LT Bk Fac          CARE B(SO)/*   1520    Revised from
                                                                                CARE BB (SO)
*The ratings factor in credit enhancement in the form of an unconditional and irrevocable
corporate guarantee extended by promoters Scomi Engineering Bhd. (SEB) to the lenders of UTPL. 
Vadlamudi Estates Pvt Ltd             LT Bk Fac          CARE B+        70      Assigned
Vena Energy Mh Wind Power Pvt Ltd     LT Bk Fac          CARE BBB+      1200.9  Assigned
Virchand Narsi Cotton Pvt Ltd         LT Bk Fac          CARE B         265
Revised from CARE B+ to CARE D and upgraded to CARE B
Zee Media Corporation Ltd             Long - term Bk Fac -              -       Withdrawn
                                      – TL
Zee Media Corporation Ltd             Long - term Bk Fac -              -       Withdrawn
                                      – Fund Based
Zee Media Corporation Ltd             LT Bk Fac – TL     CARE A         1132    Assigned
Zee Media Corporation Ltd             LT Bk Fac –CC      CARE A         1000    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.

(Mumbai Rate Reporting Unit + 91 22 6180 7222/3317 7222, E-mail at rru.data@thomsonreuters.com)
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