April 16, 2019 / 7:16 AM / 2 days ago

CARE ratings for Indian debt instruments-Apr 16

   Apr 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 15, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
L & D Foods                           ST Bk Fac          CARE A4        5.7     Assigned
R.R. Distributors Pvt Ltd             ST Bk Fac          CARE A4        35      Assigned
Scientifica Tiles Llp                 ST Bk Fac          CARE A4        22.5    Assigned
Si Creva Capital Services Pvt Ltd     CP                 CARE A3        150     Assigned

Space Wood Furnishers Pvt Ltd         ST Bk Fac          CARE A3        212.6   Assigned
Sri Lakshmi Mini Rice Mill            ST Bk Fac          CARE A4        7.1     Assigned
Toshniwal Industries Pvt Ltd          ST Bk Fac          CARE A4        150     Assigned
Zeta Microns Llp                      ST Bk Fac          CARE A4        8       Assigned


LONG TERM RATINGS:
-------------------
Almighty Techserv                     LT Bk Fac          CARE B         30      Assigned
Almighty Techserv                     LT/ST Bk Fac       CARE B/CARE A4 30      Assigned
Colourtex Industries Pvt Ltd          Long- Term Bk Fac  CARE AA-       796.4   Reaffirmed
Colourtex Industries Pvt Ltd          LT/ST Bk Fac       CARE AA-/CARE  4450    Reaffirmed
                                                         A1+
Diamond Solvex Pvt Ltd                LT Bk Fac          CARE B         270     Revised from
                                                                                CARE B+
(Issuer not cooperating)
Ganpati Structures Pvt Ltd            LT Bk Fac          CARE BB-       190     Assigned
Gupta Builders & Promoters Pvt Ltd    LT Bk Fac          CARE BB        500     -
(Issuer not cooperating)
Infinity Switch Technologies Pvt Ltd  LT Bk Fac          CARE B         80      Assigned
Jai Jagdambey Dall Mill               LT Bk Fac          CARE B+        70      Assigned
Jaimal Singh Satnam Singh             LT Bk Fac          CARE B         57.5    Revised from
                                                                                CARE B+
(Issuer not cooperating)
Kudu Fabrics                          LT Bk Fac          CARE B+        130     Revised from
                                                                                CARE B+
(Issuer not cooperating)
L & D Foods                           LT Bk Fac          CARE BB-       124.3   Assigned
Latiyal Handicrafts                   LT Bk Fac          CARE B+        225     Assigned
Northern Arc 2018 Mfi Ragnarok        Series A1 PTCs     -              -       Withdrawn
(Originator: Chaitanya India Fin Credit
Pvt Ltd) - Northern Arc 2018 Mfi Ragnarok
Northern Arc 2018 Mfi Ragnarok        Series A2 PTCs     -              -       Withdrawn
(Originator: Chaitanya India Fin Credit
Pvt Ltd) - Northern Arc 2018 Mfi Ragnarok
R.R. Distributors Pvt Ltd             LT Bk Fac          CARE B+        45      Assigned
Scientifica Tiles Llp                 LT Bk Fac          CARE BB-       218.1   Assigned
Space Wood Furnishers Pvt Ltd         LT/ST Bk Fac       CARE BBB-      465     Assigned
                                                         /CARE A3
Sri Lakshmi Mini Rice Mill            LT Bk Fac          CARE BB-       45.3    Assigned
Toshniwal Industries Pvt Ltd          LT Bk Fac          CARE BB        32.9    Assigned
Toshniwal Industries Pvt Ltd          LT/ST Bk Fac       CARE BB/CARE A4120     Assigned
Undavalli Constructions               LT Bk Fac          CARE BB-       250     Assigned
United Bank Of India                  Lower Tier-II      -              -       Withdrawn
                                      Subordinated Bonds
                                      (Series VI)
Welcast Steels Ltd                    LT Bk Fac          CARE A+        113     Assigned
Welcast Steels Ltd                    LT/ST Bk Fac       CARE A+ /CARE  37      Assigned
                                                         A1+
Zeta Microns Llp                      LT Bk Fac          CARE BB-       88.7    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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