April 29, 2020 / 6:39 AM / a month ago

CARE ratings for Indian debt instruments-Apr 29

    Apr 29  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of April 28, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Njr Constructions Pvt Ltd            ST Bk Fac         CARE A4+;     330    -
Issuer not cooperating; based on best available information
Ranjan Fabrics Pvt Ltd               ST Bk Fac         CARE A4+;     15     -
Issuer not cooperating; based on best available information
Neuland Laboratories Ltd             ST Bk Fac         -             -      Reaffirmed at
                                                                            CARE A3+ and
                                                                            withdrawn
Leitwind Shriram Manufacturing Pvt   ST Bk Fac         CARE D;       1620.1 -
Ltd
Issuer not cooperating; based on best available information
Repco Home Finance Ltd               CP                CARE A1+      8000   Reaffirmed

LONG TERM RATINGS:
-------------------
Bharath Agro Agencies                LT Bk Fac ST Bk   CARE B; Stable517    Revised from
                                     Fac                                    CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Biltech Building Elements Ltd        LT Bk Fac         CARE D:       629.9  -
Issuer not cooperating; based on best available information
Brijraj Motors Pvt Ltd               LT BkFac          CARE BB-;     187.5  Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   668.5  Revised from
(Dhfl)                               - Series II – 2013                     CARE BBB (SO)
                                     Series A1 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   27.9   Revised from
(Dhfl                                - Series II – 2013                     CARE BBB (SO)
                                     Series A2 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   779.4  Revised from
(Dhfl                                - Series III –                         CARE BBB (SO)
                                     2013 Series A1 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   32.5   Revised from
(Dhfl                                - Series III –                         CARE BBB (SO)
                                     2013 Series A2 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   435.2  Revised from
(Dhfl                                - Series IV – 2013                     CARE BBB (SO)
                                     Series A1 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   18.1   Revised from
(Dhfl                                - Series IV – 2013                     CARE BBB (SO)
                                     Series A2 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   57.8   Revised from
(Dhfl                                - Series I – 2014                      CARE BBB (SO)
                                     Series A1 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   2.4    Revised from
(Dhfl                                - Series I – 2014                      CARE BBB (SO)
                                     Series A2 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   260.9  Revised from
(Dhfl                                - Series III –                         CARE BBB (SO)
                                     2014 Series A1 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   10.9   Revised from
(Dhfl                                - Series III –                         CARE BBB (SO)
                                     2014 Series A2 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   101.3  Revised from
(Dhfl                                - Series IV – 2014                     CARE BBB (SO)
                                     Series A PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   778    Revised from
(Dhfl                                - Series I – 2015                      CARE BBB (SO)
                                     Series A1 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   23.2   Revised from
(Dhfl                                - Series I – 2015                      CARE BBB (SO)
                                     Series A2 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   1052.3 Revised from
(Dhfl                                - Series II – 2015                     CARE BBB (SO)
                                     Series A1 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   32.5   Revised from
(Dhfl                                - Series II – 2015                     CARE BBB (SO)
                                     Series A2 PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   772.4  Revised from
(Dhfl                                – Series I – 2016                      CARE BBB (SO)
                                     Series A PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustCARE B (SO)   898.1  Revised from
(Dhfl                                – Series II – 2016                     CARE BBB (SO)
                                     Series A PTC
(Under Credit Watch with Negative Implications)
Dewan Housing Finance Corporation LtdNirmaan RMBS TrustEquivalent    72.4   Revised from
(Dhfl                                – Series II – 2016toCARE B (SO)        Equivalent to
                                     Second LossFacility                    CARE BBB (SO)
(Under Credit Watch with Negative Implications)
G.D. Metsteel Pvt Ltd                Long term Bk Fac  CARE BB; Stabl270    Revised from
                                                                            CARE BB+;
                                                                            Stable
Issuer not cooperating; based on best available information
Gmr Pochanpalli Expressways Ltd      NCD issue         CARE BB       3531   Revised from
                                                                            CARE
                                                                            BBB-;Negative
Gmr Pochanpalli Expressways Ltd      LT BkFac          CARE BB       200    Revised from
                                     (BkGuarantee)                          CARE
                                                                            BBB-;Negative
Kamla Shivhare                       LT/STBk Fac       CARE C;       30     Revised from
                                                       Stable/CARE A4       CARE D/CARE D
Issuer not cooperating; based on best available information
Kamla Shivhare                       LT Bk Fac         CARE C; Stable47     Revised from
                                                                            CARE D
Issuer not cooperating; based on best available information
Leitwind Shriram Manufacturing Pvt   LT Bk Fac         CARE D;       4708.6 -
 Ltd   
Issuer not cooperating; based on best available information
Neuland Laboratories Ltd             LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE BBB+;
                                                                            Stable and withdrawn
Njr Constructions Pvt Ltd            LT Bk Fac         CARE BB+;     100    -
                                                       Stable;
Issuer not cooperating; based on best available information
Rani Aqua Feeds Pvt Ltd              LT/STBk Fac       CARE B; Stable-      Revised from
                                                                            CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Ranjan Fabrics Pvt Ltd               LT Bk Fac         CARE BB+;     130    -
                                                       Stable;
Issuer not cooperating; based on best available information
Repco Home Finance Ltd               LT BkFac          CARE AA;      76450  Reaffirmed
                                                       Negative
Outlook revised from Stable to Negative
Repco Home Finance Ltd               NCDs-II           CARE AA;      7000   Reaffirmed
                                                       Negative
Outlook revised from Stable to Negative
Repco Home Finance Ltd               NCDs-III          CARE AA;      5000   Reaffirmed
                                                       Negative
Outlook revised from Stable to Negative
Sameer Construction Company          LT / Shortterm Bk CARE B;       30     Revised from
                                     Fac               Stable/CARE A4;      CAREB+;
                                                                            Stable/ CARE A4;
Issuer not cooperating; based on best available information
Sameer Construction Company          LT BkFac          CARE B;       30     Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Sohn Steel Pvt Ltd                   LT Bk Fac         CARE BB; Stabl190.8  Revised
                                                                            fromCARE BB+;
                                                                            Stable
Issuer not cooperating; based on best available information
Sohn Steel Pvt Ltd                   LT / ST Bk Fac    CARE BB;      70     Revised from
                                                       Stable /CARE A4      CARE BB+;
                                                                            Stable / CARE A4
Issuer not cooperating; based on best available information
Vishal Arogya Sampat Pvt Ltd         LT Bk Fac         CARE B+;      300    Revised
                                                       Stable;              fromCARE BB-;
                                                                            Stable
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@refinitiv.com)
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