May 24, 2019 / 5:17 AM / in 5 months

CARE ratings for Indian debt instruments-May 24

    May 24 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 23, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aradhya Steel Pvt Ltd                 ST Bk Fac          CARE D         564
Revised from CARE A4; Issuer Not Cooperating on the basis of best available information
Ct Educational Society                ST Bk Fac          CARE D         250
Issuer not cooperating; Revised from CARE A4; on the basis of best available information.
Milton Industries Ltd                 ST Bk Fac          CARE A4        87.5
Issuer not cooperating; Based on best available information
New Print India Pvt Ltd               ST Bk Fac          CARE D         37.8
Issuer not cooperating On the basis of best available information
Sinhgad Technical Education Society   ST Bk Fac          CARE D         164.5
Issuer not cooperating; Based on best available information
Super Hitech Engineers & Contractors  ST Bk Fac          CARE A4        65      Assigned
Vinum Traders Pvt Ltd                 ST Bk Fac          CARE A4        48.6    Assigned


MEDIUM TERM RATINGS:
-------------------
D. S. Kulkarni Developers Ltd         Fixed Deposits     CARE D         338.6
Issuer not cooperating; Based on best available information
Hitech Corporation Ltd                Fixed Deposit      -              -       Withdrawn
                                      Programme

LONG TERM RATINGS:
-------------------
Aadhar Housing Finance Ltd            Ratings            -
credit watch with developing implications
Aavishkaar MFL Northern Arc 2018      Series A1 PTCs     -                      Withdrawn
(Originator: Arohan Financial Services
Pvt Ltd
Aavishkaar MFL Northern Arc 2018      Series A2 PTCs     -                      Withdrawn
(Originator: Arohan Financial Services
Pvt Ltd
Amar Jyoti Janhit Karini Samiti       LT Bk Fac          CARE BB-       99      Assigned
Aradhya Steel Pvt Ltd                 LT Bk Fac          CARE D         1510.5
Revised from CARE BB-; Issuer Not Cooperating on the basis of best available information
Ashwani Goyal                         LT Bk Fac          CARE D         93.8
Issuer not cooperating; Revised from CARE B; Stable; Issuer not cooperating (Single B; Outlook:
Stable; Issuer not cooperating) on the basis of best availab
Bajrang Power Industries Llp          LT Bk Fac          CARE BB-               Withdrawn
Bharat Spun Pipe And Construction     LT Bk Fac          CARE D         80
Company
“Issuer not cooperating; Based on best available information”
Bharat Spun Pipe And Construction     LT/ ST Bk Fac      CARE D/D       200
Company
“Issuer not cooperating; Based on best available information”
Chirayu Charitable Foundation         LT Bk Fac          CARE B         860.9
Issuer not cooperating; Based on best available information
Chirayu Charitable Foundation         LT/ ShortTerm Bk   CARE B/A4      95
                                      Fac
Issuer not cooperating; Based on best available information
Ct Educational Society                LT Bk Fac          CARE D         900
Issuer not cooperating; Revised from CARE BB; on the basis of best available
D. S. Kulkarni Developers Ltd         LT Bk Fac (TL)     CARE D         7157.9
Issuer not cooperating; Based on best available information
D. S. Kulkarni Developers Ltd         NCDs               CARE D         1115.9
Issuer not cooperating; Based on best available information
Dhanraj & Company                     LT Bk Fac          CARE B-        150
Issuer Not Co-operating; Based on best available information
Dungarmal Dhanraj & Company           LT Bk Fac          CARE B-        150
Issuer Not Co-operating; Based on best available information
Essential Hospitality Pvt Ltd         LT NCD issue (NCD) CARE BBB-(SO)  936.7
Revised from CARE BBB+ (SO)(Under Credit watch with developing implications)
Indian Microfinance Loan Receivables  Series A PTCs      -                      Withdrawn
Trust July 2017 (Originator: Bharat
Financial Inclusion Ltd)
Jai Shiv Suitings Pvt Ltd             LT Bk Fac          CARE B+        106.6
Issuer not cooperating; Revised from CARE BB-; on the basis of best information
Kolkata-One Excelton Pvt Ltd          LT Bk Fac – TL     CARE AA        2000    Reaffirmed
L&T Finance Ltd. (Erstwhile Family    Market Linked      CARE PP- MLD   10000   Assigned
Credit Ltd.)                          Debenture          AAA
Milton Industries Ltd                 LT Bk Fac          CARE BB        32.8
Issuer not cooperating; Based on best available information
Milton Industries Ltd                 LT/ ST Bk Fac      CARE BB /A4    100
Issuer not cooperating; Based on best available information
New Print India Pvt Ltd               LT Bk Fac          CARE D         62.2
Issuer not cooperating; Revised from CARE B On the basis of best available information
Northern Arc 2018 MFI Ashwathama      Series A1 PTCs     -                      Withdrawn
(Originator: Chaitanya India Fin Credit
Pvt Ltd)
Northern Arc 2018 MFI Ashwathama      Series A2 PTCs     -                      Withdrawn
(Originator: Chaitanya India Fin Credit
Pvt Ltd)
Panchamrut Properties Pvt Ltd         LT Bk Fac          CARE B         62.1    Assigned
Rudra Green Ship Recycling Pvt Ltd    LT/ ST Bk Fac      CARE BB+ /A4+          Withdrawn
(Erstwhile Harikrishna Steel
Corporation)
Shruti Snacks Pvt Ltd                 LT Bk Fac          CARE B+        121.5
Issuer not cooperating; Revised from CARE BB-; on the basis of best information available
Sinhgad Technical Education Society   LT Bk Fac          CARE D         4262.4
Issuer not cooperating; Based on best available information
Super Hitech Engineers & Contractors  LT Bk Fac          CARE BB-       60      Assigned
Uco Bank                              Lower Tier II      -              -       Withdrawn
                                      Bonds (Series X)
Vivriti Liam 03 2019 (Originator:     Series A1 PTC#     CARE A (SO)
Sonata Finance Pvt Ltd)
# Both the PTCs are rated on Ultimate Payment basis
Vivriti Liam 03 2019 (Originator:     Series A2 PTC#     CARE BBB+ (SO)
Sonata Finance Pvt Ltd)
# Both the PTCs are rated on Ultimate Payment basis
Win Enterprise                        LT Bk Fac          CARE B
Revised from CARE B+; Issuer Not Cooperating; On the basis of 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)
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