August 22, 2019 / 5:58 AM / a year ago

CARE ratings for Indian debt instruments-Aug 22

    Aug 22 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 21, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Abf Engineering International Pvt Ltd ST Bk Fac          CARE A4        28      -
(Based on best available information)
Anik Industries Ltd                   ST Bk Fac          CARE D         1750    Revised from
                                                                                CARE A4
(Issuer not cooperating; (Based on best available information)
Baroda Equipment And Vessels Pvt Ltd  ST Bk Fac          CARE A4        42      -
(Issuer not cooperating; (Based on best available information)
Ceinsys Tech Ltd                      ST Bk Fac          CARE A3        600     Reaffirmed
Diamond Hometex India Pvt Ltd         ST Bk Fac          CARE A4        7.5     -
(Issuer not cooperating; (Based on best available information)
Hans Raj Agros Pvt Ltd                ST Bk Fac          CARE A4        100     -
(Issuer not cooperating; (Based on best available information)
Investment & Precision Castings Ltd   ST Bk Fac          CARE A3+       70      Reaffirmed
Goldstar Polymers Ltd                 ST Bk Fac          CARE D         2.5     -
(Issuer not cooperating; (Based on best available information)
L&T Finance Holdings Ltd              CP                 CARE A1+       20000   Reaffirmed
L&T Finance Ltd                       CP                 CARE A1+       185000  Reaffirmed
Maruthi Garments                      ST Bk Fac          CARE A4        100     -
(Issuer not cooperating; (Based on best available information)
Orchid Marine                         ST Bk Fac          CARE A4        100     -
(Issuer not cooperating; (Based on best available information)
Pennar Industries Ltd                 ST Bk Fac          CARE A1        3175    Reaffirmed
Pennar Engineered Building Systems LtdST Bk Fac          -              -       Withdrawn
Pennar Industries Ltd                 ST Bk Fac          CARE A1        80      Assigned
                                      (Proposed)
Rapicut Carbides Ltd                  ST Bk Fac          CARE A3+       37.5    -
Ratings placed on Credit watch with developing Implications
Shriram City Union Finance Ltd        CP                 CARE A1+       30000   Reaffirmed
Kamakshi Jute Industries Ltd          ST Bk Fac          -              -       Withdrawn
Titan Antony Aviation India Pvt Ltd   ST Bk Fac          CARE A4+       80      Assigned
Pennar Enviro Ltd                     ST Bk Fac          -              -       Withdrawn

MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd        Fixed Deposit      CARE AA+(FD)   100     Reaffirmed

LONG TERM RATINGS:
-------------------
ABF Engineering International Pvt Ltd LT Bk Fac          CARE C         40.7    -
(Based on best available information)
Alfa One Hi-Tech Infra Pvt Ltd        LT Bk Fac          CARE C         50      -
(Issuer not cooperating; (Based on best available information)
Anik Industries Ltd                   LT Bk Fac          CARE D         650     Revised from
                                                                                CARE C
(Issuer not cooperating; (Based on best available information)
Arex Industries Ltd                   LT Bk Fac          CARE BBB       298.2   Reaffirmed
Arex Industries Ltd                   LT/ST Bk Fac       CARE BBB /CARE 55      Reaffirmed
                                                         A3+
Arvind Fashions Ltd                   CP (CP) Issue      -              -       Withdrawn
                                      (Standalone)
Arvind Fashions Ltd                   CP (CP) Issue      -              -       Withdrawn
                                      (Carved Out)
Arvind Lifestyle Brands Ltd           CP (CP) Issue      -              -       Withdrawn
                                      (Standalone)
Arvind Lifestyle Brands Ltd           CP (CP) Issue      -              -       Withdrawn
                                      (Carved Out)
Ashirwad Corporation                  LT Bk Fac          CARE B+        200     Revised from
                                                                                CARE BB-
Avirat Shilaj Project                 LT Bk Fac          CARE BB-       300     -
(Issuer not cooperating; (Based on best available information)
Baroda Equipment And Vessels Pvt Ltd  LT Bk Fac/ ST Bk   CARE BB- /CARE 55      Revised from
                                      Fac                A4                     CARE BB /
                                                                                CARE A4
BTM Exports Ltd                       LT Bk Fac          CARE B         400     Revised from
                                                                                CARE BB+
Ceinsys Tech Ltd                      LT Bk Fac          CARE BBB-      768.7   Reaffirmed
Copperstone Clothing Company          LT/ST Bk Fac       CARE B+/CARE A4100     Assigned
Diamond Hometex India Pvt Ltd         LT Bk Fac          CARE B         73      -
(Issuer not cooperating; (Based on best available information)
Fortune Rice Ltd                      LT Bk Fac          CARE BB-       11.4    Revised from
                                                                                CARE BB
(Issuer not cooperating; (Based on best available information)
Fortune Rice Ltd                      LT / ST Bk Fac     CARE BB-/CARE  350     Revised from
                                                         A4                     CARE BB/CARE
                                                                                A4
(Issuer not cooperating; (Based on best available information)
Goldstar Polymers Ltd                 LT/ST Bk Fac       CARE D/CARE D  70      -
(Issuer not cooperating; (Based on best available information)
Gupta Enterprises                     LT/Shortterm Bk Fac CARE BB+/CARE 592.5   Revised from
                                                         A4+                    CARE BBB-/
                                                                                CARE A3
(Issuer not cooperating; (Based on best available information)
Gupta Hair Products Pvt Ltd           LT/Shortterm Bk Fac CARE BB+/CARE 147.5   Revised from
                                                         A4+                    CARE BBB-/
                                                                                CARE A3
Hans Raj Agros Pvt Ltd                LT Bk Fac          CARE B+        190     Revised from
                                                                                CARE BB-
(Issuer not cooperating; (Based on best available information)
Investment & Precision Castings Ltd   LT Bk Fac          CARE BBB       735.7   Revised from
                                                                                CARE BBB
Jai Bharat Rice Mills-Fazilka         LT Bk Fac          CARE B         250     Revised from
                                                                                CARE B+
(Issuer not cooperating; (Based on best available information)
Jfk International Ltd                 LT/ST Bk Fac       CARE BB- /CARE 200     -
                                                         A4
(Issuer not cooperating; (Based on best available information)
Jnana Bandhu Education Trust          LT Bk Fac          CARE B         65      -
(Issuer not cooperating; (Based on best available information)
Kamakshi Jute Industries Ltd          LT Bk Fac          -              -       Withdrawn
L&T Finance Holdings Ltd              NCDs               CARE AAA       10000   Reaffirmed
L&T Finance Holdings Ltd              PS                 CARE AAA(RPS)  22710   Reaffirmed
L&T Finance Ltd                       Perpetual Debt     CARE AA+       5000    Reaffirmed
L&T Finance Ltd                       NCDs               CARE AAA       155000  Reaffirmed
L&T Finance Ltd                       NCDs(Public Issue) CARE AAA       6000    Reaffirmed
L&T Finance Ltd                       NCDs/Subordinate   CARE AAA       50000   Reaffirmed
                                      Debt
L&T Finance Ltd                       Subordinate Debt   CARE AAA       13000   Reaffirmed
L&T Finance Ltd                       LT Fac             CARE AAA       260000  Reaffirmed
L&T Finance Ltd                       Market linked      CARE PP-MLD AAA15000   Reaffirmed
                                      Debenture
M J Home Furnishing                   LT Bk Fac          CARE B         40.5    Assigned
M. Sundardas And Sons                 LT Bk Fac          CARE BB-       90.5    -
(Issuer not cooperating; (Based on best available information)
Maruthi Garments                      LT Bk Fac          CARE B+        3.3     -
(Issuer not cooperating; (Based on best available information)
Mas Rural Housing And Mortgage FinanceLT Bk Fac          CARE A         6000    Reaffirmed
Ltd
Neelkanth Enterprise                  LT Bk Fac          -              -       Withdrawn
Paramount Propbuild Pvt Ltd           LT Bk Fac          CARE BBB       1517.2  Assigned
Patel Sethiyahopu-Cholopuram Highway  LT Bk Fac          CARE BBB       7012.8  Reaffirmed
Pvt Ltd
Pennar Engineered Building Systems LtdLT Bk Fac          -              -       Withdrawn
Pennar Engineered Building Systems LtdLT / ST Bk Fac     -              -       Withdrawn
Pennar Enviro Ltd                     LT Bk Fac          -              -       Withdrawn
Pennar Enviro Ltd                     LT / ST Bk Fac     -              -       Withdrawn
Pennar Industries Ltd                 LT Bk Fac          CARE A         3587.5  Revised from
                                                                                CARE A
Pennar Industries Ltd                 LT Bk Fac          CARE A         1650    Assigned
                                      (Proposed)
Pennar Industries Ltd                 LT/ST Bk Fac       CARE A/CARE A1 3125    Assigned
                                      (Proposed)
Pmc Rubber Chemicals India Pvt Ltd    LT Bk Fac          CARE BB        300     Revised from
                                                                                CARE BB-
Polyblend Colour Concentrate          LT Bk Fac          CARE B+        52.5    Revised from
                                                                                CARE BB-
R M Betgeri And Company               LT Bk Fac          CARE B+        65      Assigned
Rapicut Carbides Ltd                  LT/ ST Bk Fac      CARE BBB/CARE  47      -
                                                         A3+
Ratings placed on Credit watch with developing Implications
Shriram City Union Finance Ltd        NCD -VIII (public  -              -       Withdrawn
                                      issue)
Shriram City Union Finance Ltd        NCD-IX (public     -              -       Withdrawn
                                      issue)
Shriram City Union Finance Ltd        NCD-XV             -              -       Withdrawn
Shriram City Union Finance Ltd        NCD-XVI            -              -       Withdrawn
Shriram City Union Finance Ltd        NCD-XXI            -              -       Withdrawn
Shriram City Union Finance Ltd        NCD-XXIV           -              -       Withdrawn
Shriram City Union Finance Ltd        Sub-debt – II      -              -       Withdrawn
Shriram City Union Finance Ltd        NCD-III            CARE AA+       20      Reaffirmed
Shriram City Union Finance Ltd        NCD-XII            CARE AA+       1000    Reaffirmed
Shriram City Union Finance Ltd        NCD-XVIII          CARE AA+       1000    Reaffirmed
Shriram City Union Finance Ltd        NCD-XIX            CARE AA+       1150    Reaffirmed
Shriram City Union Finance Ltd        NCD-XX             CARE AA+       3550    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXII           CARE AA+       5000    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXIII          CARE AA+       1950    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXV            CARE AA+       6000    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXVI           CARE AA+       3900    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXVII          CARE AA+       6000    Reaffirmed
Shriram City Union Finance Ltd        NCD-XXVIII         CARE AA+       30000   Reaffirmed
Shriram City Union Finance Ltd        Sub-debt - I       CARE AA+       150     Reaffirmed
Shriram City Union Finance Ltd        Sub-debt - III     CARE AA+       600     Reaffirmed
Shyama Shyam Service Centre           LT Bk Fac          CARE BB        20      -
(Issuer not cooperating; (Based on best available information)
Shyama Shyam Service Centre           LT / ST Bk Fac     CARE BB /CARE  30      -
                                                         A4+
(Issuer not cooperating; (Based on best available information)
Sri Srinivasa Agro Rice Industries    LT Bk Fac          CARE B+        150     Reaffirmed
                                                                                and removed
                                                                                from Issuer
                                                                                not
                                                                                cooperation
Sri Venkateshwar Spices               LT Bk Fac          CARE B+        150     Assigned
Titan Antony Aviation India Pvt Ltd   LT Bk Fac          CARE BB        90      Assigned
Venkatalakshmi Paper And Boards Pvt Ltd LT Bk Fac        CARE BBB-      756     Assigned
Videocon Telecommunications Ltd       LT Bk Fac          CARE D         25625   -
(Issuer not cooperating; (Based on best available information)
Videocon Telecommunications Ltd       LT Bk Fac- BG      CARE D         6449.2  -
(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)
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