September 5, 2019 / 9:25 AM / 3 months ago

CARE ratings for Indian debt instruments-Sep 5

    Sep 5 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 4, 2019.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ace Engineers Bureau                  LT Bk Fac          CARE A4        25      -
Issuer Not cooperating; Based on best available information
Arihant Industrial Corporation Ltd    ST Bk Fac          CARE A4+       79.2    Revised from
                                                                                CARE A3

Ashok Timber Trading Co               ST Bk Fac          CARE A4        250     -
Issuer Not cooperating; Based on best available information
Bmm Ispat Ltd                         ST Bk Fac          CARE D         3600    -
Issuer Not cooperating;Based on best availableinformation
Banashankari Engineers                ST Bk Fac          CARE A4        25      -
Issuer Not cooperating; Based on best available information
Cephas Medicals Pvt Ltd               ST Bk Fac          CARE A4        15      -
Issuer Not cooperating; Based on best available information
Cetex Petrochemicals Ltd              ST Bk Fac          CARE A3        150     Reaffirmed
Pinakin Plastoforming Ltd             ST Bk Fac          CARE D         5       -
Issuer Not cooperating; Based on best available information
Viraj Profiles Ltd                    ST Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Ceyenar Chemicals Pvt Ltd             ST Bk Fac          CARE A3        262.5   Revised from
                                                                                CARE A4+
(enhanced from 22.75)
Chakri Fisheries Pvt Ltd              ST Bk Fac          CARE A4        122.5   -
Issuer Not cooperating; Based on best available information
Daya Steel Agencies Pvt Ltd           ST Bk Fac          CARE A4        30      Reaffirmed
Eaststar Manufacturing Syndicate      ST Bk Fac          CARE A4        14      -
Issuer Not cooperating; Based on best available information
Emperor Textiles Pvt Ltd              ST Bk Fac          CARE A4        140     Reaffirmed
Excel Enterprise                      ST Bk Fac          CARE A4        115     -
Issuer Not cooperating; Based on best available information
Gurvinder Singh                       ST Bk Fac          CARE A4        43      -
Issuer Not cooperating; Based on best available information
Jain Cord Industries Pvt Ltd          ST Bk Fac          CARE A4+       50      Reaffirmed
Joginder Singh                        ST Bk Fac          CARE A4        40      -
Issuer Not cooperating; Based on best available information
K V R Constructions                   ST Bk Fac          CARE A4        150     -
Issuer Not cooperating; Based on best available information
K. Philip D’Costa                     ST Bk Fac          CARE A4        50      -
Issuer Not cooperating; Based on best available information
Kashi Vishwanath Textile Mill Pvt Ltd ST Bk Fac          CARE A3        5       Reaffirmed
Luxra Enterprises Pvt Ltd             ST Bk Fac          CARE A4        60      Assigned
M G Hussain                           ST Bk Fac          CARE A4        25      -
Issuer Not cooperating; Based on best available information
Manohar Food Industry                 ST Bk Fac          CARE A4        42.5    -
Issuer Not cooperating; Based on best available information
Mayur Ginning And Pressing Pvt Ltd    ST Bk Fac          CARE A4        40      -
Issuer Not cooperating; Based on best available information
Mb Power (Madhya Pradesh) Ltd         ST Bk Fac -        CARE A4        490     Revised from
                                      Non-Fund Based –                          CARE A3
                                      LOC
Naxalbari Flour And Rice Mill Pvt Ltd ST Bk Fac          CARE A4        6       Assigned
Orient Steel And Industries Ltd       ST Bk Fac          CARE A4+       120     Assigned
Pagan Paints And Chemicals Pvt Ltd    ST Bk Fac          CARE A4+       23      -
Issuer Not cooperating; Based on best available information
R.K.I. Builders Pvt Ltd               ST Bk Fac          CARE A4        100     -
Issuer Not cooperating; Based on best available information
Rla Constructions                     ST Bk Fac          CARE A4        39      Reaffirmed
(Reduced from 4.00)
Rmc Switch Gears Ltd                  ST Bk Fac          CARE A4+       300     Reaffirmed
S R Ballary                           ST Bk Fac          CARE A4        45      -
Issuer Not cooperating; Based on best available information
S. R. Seth & Sons                     ST Bk Fac          CARE A4        5       Assigned
Sayaji Industries Ltd                 ST Bk Fac          CARE A3        355     Reaffirmed
Sri Balaji Agro                       ST Bk Fac          CARE A4        4.7     -
Sterling Cast And Forge               ST Bk Fac          CARE A4        20      -
Issuer Not cooperating; Based on best available information
Sud Pines Pvt Ltd                     ST Bk Fac          CARE A4        13.8    -
Issuer Not cooperating; Based on best available information
Tata Services Ltd                     ST Bk Fac          CARE A1+       80      Reaffirmed
Tathastu Spintex Pvt Ltd              ST Bk Fac          CARE A4        23      Assigned
Turbhe Chemicals Pvt Ltd              ST Bk Fac          CARE A4+       4       Reaffirmed
Variety Polyesters Pvt Ltd            ST Bk Fac          CARE A4        38.5    -
Issuer Not cooperating; Based on best available information
Vitrag Foam Pvt Ltd                   ST Bk Fac          CARE A4        91.8    -
Issuer Not cooperating; Based on best available information
Vtc Engineering Pvt Ltd               ST Bk Fac          CARE A4        70      -
Issuer Not cooperating; Based on best available information
Kandagiri Spinning Mills Ltd          ST Bk Fac          CARE D         10      Reaffirmed
White House Tiles Pvt Ltd             ST Bk Fac          CARE D         7.5     -
Issuer Not cooperating; Based on best available information

MEDIUM TERM RATINGS:
-------------------
Kandagiri Spinning Mills Ltd          FD                 CARE D (FD)    140.1   Reaffirmed
Sayaji Industries Ltd                 Medium Term        CARE BBB (FD); 300     Assigned
                                      InstrumentFixed    Stable
                                      Deposit
   
LONG TERM RATINGS:
-------------------
A-1 Cold Storage Pvt Ltd              LT Bk Fac          CARE B; Stable 55      Revised from
                                                                                CARE B+ Stable
Issuer Not cooperating; Based on best available information
Aadya Plast                           LT Bk Fac          CARE BB-;      48      Revised from
                                                         Stable                 CARE B+;
                                                                                Stable
Ace Engineers Bureau                  LT Bk Fac          CARE B;Stable  35      Revised from
                                                                                CARE B+;
                                                                                Stable
Issuer Not cooperating; Based on best available information
Arihant Industrial Corporation Ltd    LT Bk Fac          CARE BB+;      220.8   Revised from
                                                         Stable                 CARE
                                                                                BBB-;Negative
Aryodaya Sales Pvt Ltd                LT Bk Fac          CARE BB+/Stable200     -
Issuer Not cooperating; Based on best available information
Ashok Timber Trading Co               LT Bk Fac          CARE B /Stable 75      Revised from
                                                                                CARE B+/
                                                                                Stable
Issuer Not cooperating; Based on best available information
Banashankari Engineers                Long -term Bk Fac  CARE B +       20      -
                                                         /Stable
Issuer Not cooperating; Based on best available information
Bee Systems                           LT Bk Fac          CARE BB+;      75      Reaffirmed
                                                         Negative
Outlook revised from Stable to Negative
Bhagya Laxmi Brinechem Pvt Ltd        LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Bmm Ispat Ltd                         LT Bk Fac          CARE D         27806.9 -
Issuer Not cooperating; Based on best available information
Cephas Medicals Pvt Ltd               Long -term Bk Fac  CARE BB-/Stable35      -
Issuer Not cooperating; Based on best available information
Cetex Petrochemicals Ltd              LT Bk Fac          CARE BBB;      556     Reaffirmed
                                                         Stable
Cetex Petrochemicals Ltd              LT/ ST Bk Fac      CARE BBB;      60      Reaffirmed
                                                         Stable/CARE A3
Ceyenar Chemicals Pvt Ltd             LT Bk Fac          CARE           186.1   Revised from
                                                         BBB-/Stable            CARE BB+;
                                                                                Stable
(enhanced from 16.14)
Chakri Fisheries Pvt Ltd              LT Bk Fac          CARE B; Stable 12      -
Issuer Not cooperating; Based on best available information
Dashmesh Weaving & Dyeing Mills Pvt   LT Bk Fac          CARE BB-       137     -
Ltd
Issuer Not cooperating; Based on best available information
Daya Steel Agencies Pvt Ltd           LT Bk Fac          CARE B+; Stable50      Reaffirmed
Eaststar Manufacturing Syndicate      LT Bk Fac          CARE B         65      Revised from
                                                                                CARE B+
Issuer Not cooperating; Based on best available information
Elaine Dairy Pvt Ltd                  LT Bk Fac          -              -       Withdrawn
Emperor Textiles Pvt Ltd              LT Bk Fac          CARE B+ /Stable25.3    Reaffirmed
Eracon Vitrified Pvt Ltd              LT Bk Fac          CARE BB+;      565.8   Assigned
                                                         Stable
Eracon Vitrified Pvt Ltd              LT/ST Fac          CARE BB+;      46      Assigned
                                                         Stable/CARE A4+
Finestar Jewellery And Diamonds Pvt   LT/ ST Bk Fac      CARE BBB;      1850    Reaffirmed
Ltd                                                         Stable /CARE A3
Issuer Not cooperating; Based on best available information
Grandiose Buildteck Pvt Ltd           Long -term Bk Fac  -              -       Withdrawn
Gurvinder Singh                       LT Bk Fac          CARE B         20      Revised from
                                                                                CARE B+
Issuer Not cooperating; Based on best available information
Hubli Cotton Industries               LT Bk Fac          CARE D         75      -
Issuer Not cooperating; Based on best available information
Independent Tv Ltd                    Long/ST Bk Fac     CARE D /CARE D 900     -
Issuer Not cooperating; Based on best available information
Jai Maa Iron Foundry Pvt Ltd          LT Bk Fac          CARE BB-       185.2   -
Issuer Not cooperating; Based on best available information
Jain Cord Industries Pvt Ltd          LT Bk Fac          CARE BB+;      280     Reaffirmed
                                                         Stable
(Enhanced from 22.00)
Jain Cord Industries Pvt Ltd          LT/ ST Bk Fac      CARE BB+;      410     Reaffirmed
                                                         Stable/CARE A4+
(Enhanced from 24.79)
Joginder Singh                        LT Bk Fac          CARE B         20      Revised from
                                                                                CARE B+
Issuer Not cooperating; Based on best available information
K V R Constructions                   LT Bk Fac          CARE BB-;      250     Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
Issuer Not cooperating; Based on best available information
K. Philip D’Costa                     Long -term Bk Fac  CARE B /Stable 5       Revised from
                                                                                CARE B+;
                                                                                Stable
Issuer Not cooperating; Based on best available information
Kandagiri Spinning Mills Ltd          LT Bk Fac          CARE D         308.5   Reaffirmed
(reduced from 39.03)
Kashi Vishwanath Textile Mill Pvt Ltd LT Bk Fac – TL     CARE BBB;      692.3   Reaffirmed
                                                         Stable
(enhanced from 12.46)
Kashi Vishwanath Textile Mill Pvt Ltd LT Bk Fac – CC     CARE BBB;      95      Reaffirmed
                                                         Stable
(enhanced from 7.00)
Luxra Enterprises Pvt Ltd             LT Bk Fac          CARE BB-;      55      Assigned
                                                         Stable
M G Hussain                           LT Bk Fac          CARE B; Stable 48      Revised from
                                                                                CARE B+;
                                                                                Stable
Issuer Not cooperating; Based on best available information
M K M S Builders                      LT Bk Fac          CARE B+ /Stable60      Reaffirmed
M.G.Associates                        Long -term Bk Fac  CARE B +       200     -
                                                         /Stable
Issuer Not cooperating; Based on best available information
Mac Precitec India                    LT Bk Fac          CARE B+ /Stable100     Assigned
Mahavir Sharma                        LT Bk Fac          CARE BB; Stable72.5    -
Issuer Not cooperating; Based on best available information
Mahavir Sharma                        LT/ST Fac          CARE BB;       150     -
                                                         Stable /CARE
                                                         A4+
Issuer Not cooperating; Based on best available information
Manohar Food Industry                 LT Bk Fac          CARE B         30      Revised from
                                                                                CARE B+
Issuer Not cooperating; Based on best available information
Mantri Infrastructure Pvt Ltd         Proposed           -              -       Withdrawn
                                      Non-Convertible
                                      Bonds Issue (Series B)
Mayur Ginning And Pressing Pvt Ltd    LT Bk Fac          CARE B+        50      -
Issuer Not cooperating; Based on best available information
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac –TL      CARE BB;       44130   Revised from
                                                         Negative               CARE BBB-;
                                                                                Negative
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac –TL      CARE BB;       7320    Revised from
                                                         Negative               CARE BBB-;
                                                                                Negative
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac–Non-Fund CARE BB;       5710    Revised from
                                      Based (BG)         Negative               CARE BBB-;
                                                                                Negative
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac – Fund   CARE BB;       10600   Revised from
                                      Based – Working    Negative               CARE BBB-;
                                      capital limits                            Negative
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac -        CARE BB;       2700    Revised from
                                      Non-Fund Based –   Negative               CARE BBB-;
                                      Derivative Limit                          Negative
Nanu Ram Goyal And Company            LT Bk Fac          CARE BB-;      40      -
                                                         Stable
Issuer Not cooperating; Based on best available information
Nanu Ram Goyal And Company            LT/ST Bk Fac       CARE BB-;      207.5   -
                                                         Stable /CARE A4
Issuer Not cooperating; Based on best available information
Naxalbari Flour And Rice Mill Pvt Ltd LT Bk Fac          CARE BB-/      81.1    Assigned
                                                         Stable
Northern Arc 2019 Cv Mayura           Series A2 PTC      CARE A- (SO)   8.4     Assigned
Northern Arc 2019 Cv Mayura           Series A1 PTC      CARE AA- (SO)  145.3   Assigned
Orient Steel And Industries Ltd       LT Bk Fac          CARE BB; Stable100     Assigned
Pagan Paints And Chemicals Pvt Ltd    LT Bk Fac          CARE BB-;      35      -
                                                         Stable
Issuer Not cooperating; Based on best available information
Pinakin Plastoforming Ltd             LT Bk Fac          CARE D         80      -
Issuer Not cooperating; Based on best available information
Platinum Textiles Ltd                 LT Bk Fac FB -     CARE BB: Stable1655.3  Revised from
                                      LT-TL                                     CARE BBB:
                                                                                Stable
Issuer Not cooperating; Based on best available information
Platinum Textiles Ltd                 LT Bk FacFB-LT-CC  CARE BB: Stable2500    Revised from
                                                                                CARE BBB:
                                                                                Stable
Issuer Not cooperating; Based on best available information
Popular Group Mangalore               LT Bk Fac          CARE D         60      -
Issuer Not cooperating; Based on best available information
Premium Medical Healthcare Providers  LT Bk Fac          CARE BB +;     3200    Revised from
Pvt Ltd                                                  Positive               CARE BB+;
                                                                                Negative
(enhanced from 216.00),(enhanced from 216.00)
Puliani And Puliani                   LT Bk Fac          CARE B /Stable 75      -
Issuer Not cooperating; Based on best available information
R.G. Buildwell Engineers Ltd          LT Fac             -              -       Reaffirmed
                                                                                and Withdrawn
R.G. Buildwell Engineers Ltd          LT/ ST Fac         -              -       Reaffirmed
                                                                                and Withdrawn
R.K.I. Builders Pvt Ltd               LT Bk Fac          CARE BB        150     -
Issuer Not cooperating; Based on best available information
Reddies Textile Industries Pvt Ltd    LT Bk Fac          CARE D         305.1   -
Issuer Not cooperating; Based on best available information
Reliance Broadcast Network Ltd        LT Bk Fac          CARE BB; Stable836.9   Revised from
                                                                                CARE BBB(CE)
Removed from Credit Watch with negative implications
Reliance Broadcast Network Ltd        NCD 2*             CARE BB; Stable668     Revised from
                                                                                CARE BBB(CE)
Removed from Credit Watch with negative implications,*NCD amounting Rs.66.60 crore has been
repaid
Reliance Broadcast Network Ltd        NCD 3              CARE BB; Stable500     Revised from
                                                                                CARE BBB(CE)
Removed from Credit Watch with negative implications
Reliance Broadcast Network Ltd        NCD 4              CARE BB; Stable650     Revised from
                                                                                CARE BBB(CE)
Removed from Credit Watch with negative implications
Reliance Broadcast Network Ltd        NCD 5              CARE BB; Stable500     Revised from
                                                                                CARE BBB(CE)
Removed from Credit Watch with negative implications
Reliance Broadcast Network Ltd        NCD 1              CARE BBB- (CE) 1000    Revised from
                                                                                CARE BBB(CE)
Removed from Credit Watch with negative implications
Reliance Business Broadcast News      NCD 1              CARE BBB- (CE) 4000    Revised from
Holdings Ltd                                                                    CARE BBB (CE)
(Credit watch with developing implications)
Reliance Business Broadcast News      NCD 2              CARE BBB- (CE) 2000    Revised from
Holdings Ltd                                                                    CARE BBB (CE)
(Credit watch with developing implications)
Reliance Business Broadcast News      NCD 3              CARE BBB- (CE) 2500    Revised from
Holdings Ltd                                                                    CARE BBB (CE)
(Credit watch with developing implications)
Reliance Commercial Finance Ltd       NCD                CARE BBB- (CE) 2000    Revised from
                                                                                CARE BB (CE);
                                                                                Stable
Reliance Communications InfrastructureST Bk Fac          CARE D         11800   -
Ltd
Issuer Not cooperating; Based on best available information
Rla Constructions                     LT Bk Fac          CARE BB-;      15      Reaffirmed
                                                         Stable
(Reduced from 2.50)
Rm Rocks And Sand Pvt Ltd             Long -term Bk Fac  CARE B /Stable 80      -
Issuer Not cooperating; Based on best available information
Rmc Switch Gears Ltd                  LT Bk Fac          CARE BB+/Stable167.5   Reaffirmed
S R Ballary                           LT Bk Fac          CARE BB-/      54      Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
Issuer Not cooperating; Based on best available information
S. R. Seth & Sons                     LT Bk Fac          CARE BB-;      75      Assigned
                                                         Stable
Sayaji Industries Ltd                 LT Bk Fac          CARE BBB;      362.3   Reaffirmed
                                                         Stable
Sayaji Industries Ltd                 LT/ST Bk Fac       CARE BBB;      1035    Reaffirmed
                                                         Stable/CARE A3
Shri Vinayak Logistic                 LT Bk Fac          CARE B; Stable 162.5   -
Issuer Not cooperating; Based on best available information
Sri Balaji Agro                       LT Bk Fac          CARE B/ Stable 46      Revised from
                                                                                CARE B+/
                                                                                Stable
Issuer Not cooperating; Based on best available information
Sri Laxmi Vinayaka Agro Foods         LT Bk Fac          CARE B/ Stable 158     Revised from
                                                                                CARE B+/
                                                                                Stable
Sterling Cast And Forge               LT Bk Fac          CARE B         33.5    Revised from
                                                                                CARE B+
Issuer Not cooperating; Based on best available information
Sud Pines Pvt Ltd                     LT Bk Fac          CARE B+        45      -
Issuer Not cooperating; Based on best available information
Tamogna Enterprises Pvt Ltd           LT Bk Fac          CARE B+; Stable90      -
Issuer Not cooperating; Based on best available information
Tathastu Spintex Pvt Ltd              LT Bk Fac          CARE BB-;      500.3   Assigned
                                                         Stable
Turbhe Chemicals Pvt Ltd              LT Bk Fac          CARE BB+;      120     Reaffirmed
                                                         Stable
Variety Polyesters Pvt Ltd            LT Bk Fac          CARE B         60      -
Issuer Not cooperating; Based on best available information
Vinayak Marine Services Pvt Ltd       LT Bk Fac          CARE BB; Stable42.1    Revised from
                                                                                CARE BB-;
                                                                                Stable
Viraj Profiles Ltd                    LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Viraj Profiles Ltd                    LT/ST Bk Fac       -              -       Reaffirmed
                                                                                and Withdrawn
Vishal Conduit Products Pvt Ltd       LT Bk Fac          CARE B-; /CARE 50      -
                                                         A4
Issuer Not cooperating; Based on best available information
Vitrag Foam Pvt Ltd                   LT Bk Fac          CARE BB-       43.5    -
Issuer Not cooperating; Based on best available information
Vtc Engineering Pvt Ltd               LT Bk Fac          CARE B-;       100     Revised from
                                                         Stable;                CARE B
Issuer Not cooperating; Based on best available information
White House Tiles Pvt Ltd             LT Bk Fac          CARE D         133     -
Issuer Not cooperating; Based on best available information
--------------------------------------------------------------------------------------------
$: 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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