August 10, 2018 / 5:02 AM / in 3 months

CARE ratings for Indian debt instruments-Aug 10

    Aug 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 9, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aaditya Construction                  ST Bk Fac          CARE A4        7.5     Assigned
Arnav Agrotech                        ST Fac             CARE A4        4.5     Assigned
Eram Motors Pvt Ltd                   ST Bk Fac          -              -       Withdrawn
Frizo India Pvt Ltd                   ST BkFac           CARE A4+       12.25   Assigned
Jaisri Shyam Food Products Pvt Ltd    ST Fac             CARE A4        0.24    Assigned

Krofta Papers Pvt Ltd                 ST Bk Fac          CARE D         5       Revised from
                                                                                CARE A4
Rahul Commerce Pvt Ltd                ST BkFac           CARE A4        1.4     Revised from
                                                                                CARE A4
ISSUER NOT COOPERATING
Rattanindia Finance Pvt Ltd           ST Bk Fac          CARE A1+       50      Assigned
Rotomac Electricals Pvt Ltd           ST Bk Fac          -              -       Withdrawn
Transformers & Rectifiers (India) Ltd ST Bk Fac          CARE A3+       150     Reaffirmed

LONG TERM RATINGS:
-------------------
Aaditya Construction                  LT Bk Fac          CARE BB-       6.2     Assigned
Arnav Agrotech                        LT Bk Fac          CARE B+        1.13    Assigned
Asirvad Micro Finance Ltd             NCD V(Proposed)    -              -       Withdrawn
Asirvad Micro Finance Ltd             LT Bk              CARE A+        100     Reaffirmed
                                      Fac(Proposed)
Asirvad Micro Finance Ltd             NCD II             CARE A+        70      Reaffirmed
Asirvad Micro Finance Ltd             NCD III            CARE A+        33      Reaffirmed
Asirvad Micro Finance Ltd             NCD IV             CARE A+        40      Reaffirmed
Dhanee International                  LT Bk Fac          CARE D         5.25    -
ISSUER NOT COOPERATING
Eram Motors Pvt Ltd                   LT Bk Fac          -              -       Withdrawn
Frizo India Pvt Ltd                   LT BkFac           CARE BB+       3       Assigned
Grand Windsor Resorts Ltd             LT Bk Fac          CARE BBB-      10.25   Reaffirmed
Grand Windsor Resorts Ltd             LT/ST Bk Fac       CARE BBB-/A3   2.5     Reaffirmed
Haldia Agro Pvt Ltd                   LT Bk Fac          CARE B         6.7     Revised from
                                                                                CARE B+
ISSUER NOT COOPERATING
Jaisri Shyam Food Products Pvt Ltd    LT Bk Fac          CARE B+        5.62    Assigned
Kotak Mahindra Mutual Fund            Kotak Capital      CARE AAAmfs    -       Reaffirmed
                                      Protection         (SO)
                                      Oriented Fund – Series 1
Kotak Mahindra Mutual Fund            Kotak Capital      CARE AAAmfs    -       Reaffirmed
                                      Protection         (SO)
                                      Oriented Fund – Series 2
Kotak Mahindra Mutual Fund            Kotak Capital      CARE AAAmfs    -       Reaffirmed
                                      Protection         (SO)
                                      Oriented Fund – Series 3
Kotak Mahindra Mutual Fund            Kotak Capital      CARE AAAmfs    -       Reaffirmed
                                      Protection         (SO)
                                      Oriented Fund – Series 4
Krofta Papers Pvt Ltd                 LT Bk Fac          CARE D         14.5    Revised from
                                                                                CARE B+
Ndr Infrastructure Pvt Ltd            LT Bk Fac          -              -       Withdrawn
R. R. International                   LT Bk Fac          CARE B         5       Assigned
Rahul Commerce Pvt Ltd                LT BkFac           CARE B+        12.6    Revised from
                                                                                CARE BB-
ISSUER NOT COOPERATING
Rotomac Electricals Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Savas Engineering Company Pvt Ltd     LT Bk Fac          CARE BBB+ (SO) 3       Reaffirmed
Savas Engineering Company Pvt Ltd     LT/ ST BkFac       CARE           4.5     Reaffirmed
                                                         BBB+(SO)/A3+
                                                         (SO)
Shri Govindkrupa Cotton Processing PvtLT Bk Fac          CARE BB-       12.25   Assigned
Ltd
Suvidhi Rayons Pvt Ltd                LT Bk Fac          CARE BB        25      Assigned
Transformers & Rectifiers (India) Ltd LT Bk Fac          CARE BBB+      39.45   Reaffirmed
Transformers & Rectifiers (India) Ltd LT/ ST BkFac       CARE BBB+ / A3+936     Reaffirmed
--------------------------------------------------------------------------------------------
$: 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)CARE ratings for Indian debt instruments-Aug 10

    Aug 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 9, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aaditya Construction                  ST Bk Fac          CARE A4        7.5     Assigned
Arnav Agrotech                        ST Fac             CARE A4        4.5     Assigned
Eram Motors Pvt Ltd                   ST Bk Fac          -              -       Withdrawn
Frizo India Pvt Ltd                   ST BkFac           CARE A4+       12.25   Assigned
Jaisri Shyam Food Products Pvt Ltd    ST Fac             CARE A4        0.24    Assigned

Krofta Papers Pvt Ltd                 ST Bk Fac          CARE D         5       Revised from
                                                                                CARE A4
Rahul Commerce Pvt Ltd                ST BkFac           CARE A4        1.4     Revised from
                                                                                CARE A4
ISSUER NOT COOPERATING
Rattanindia Finance Pvt Ltd           ST Bk Fac          CARE A1+       50      Assigned
Rotomac Electricals Pvt Ltd           ST Bk Fac          -              -       Withdrawn
Transformers & Rectifiers (India) Ltd ST Bk Fac          CARE A3+       150     Reaffirmed

LONG TERM RATINGS:
-------------------
Aaditya Construction                  LT Bk Fac          CARE BB-       6.2     Assigned
Arnav Agrotech                        LT Bk Fac          CARE B+        1.13    Assigned
Asirvad Micro Finance Ltd             NCD V(Proposed)    -              -       Withdrawn
Asirvad Micro Finance Ltd             LT Bk              CARE A+        100     Reaffirmed
                                      Fac(Proposed)
Asirvad Micro Finance Ltd             NCD II             CARE A+        70      Reaffirmed
Asirvad Micro Finance Ltd             NCD III            CARE A+        33      Reaffirmed
Asirvad Micro Finance Ltd             NCD IV             CARE A+        40      Reaffirmed
Dhanee International                  LT Bk Fac          CARE D         5.25    -
ISSUER NOT COOPERATING
Eram Motors Pvt Ltd                   LT Bk Fac          -              -       Withdrawn
Frizo India Pvt Ltd                   LT BkFac           CARE BB+       3       Assigned
Grand Windsor Resorts Ltd             LT Bk Fac          CARE BBB-      10.25   Reaffirmed
Grand Windsor Resorts Ltd             LT/ST Bk Fac       CARE BBB-/A3   2.5     Reaffirmed
Haldia Agro Pvt Ltd                   LT Bk Fac          CARE B         6.7     Revised from
                                                                                CARE B+
ISSUER NOT COOPERATING
Jaisri Shyam Food Products Pvt Ltd    LT Bk Fac          CARE B+        5.62    Assigned
Kotak Mahindra Mutual Fund            Kotak Capital      CARE AAAmfs    -       Reaffirmed
                                      Protection         (SO)
                                      Oriented Fund – Series 1
Kotak Mahindra Mutual Fund            Kotak Capital      CARE AAAmfs    -       Reaffirmed
                                      Protection         (SO)
                                      Oriented Fund – Series 2
Kotak Mahindra Mutual Fund            Kotak Capital      CARE AAAmfs    -       Reaffirmed
                                      Protection         (SO)
                                      Oriented Fund – Series 3
Kotak Mahindra Mutual Fund            Kotak Capital      CARE AAAmfs    -       Reaffirmed
                                      Protection         (SO)
                                      Oriented Fund – Series 4
Krofta Papers Pvt Ltd                 LT Bk Fac          CARE D         14.5    Revised from
                                                                                CARE B+
Ndr Infrastructure Pvt Ltd            LT Bk Fac          -              -       Withdrawn
R. R. International                   LT Bk Fac          CARE B         5       Assigned
Rahul Commerce Pvt Ltd                LT BkFac           CARE B+        12.6    Revised from
                                                                                CARE BB-
ISSUER NOT COOPERATING
Rotomac Electricals Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Savas Engineering Company Pvt Ltd     LT Bk Fac          CARE BBB+ (SO) 3       Reaffirmed
Savas Engineering Company Pvt Ltd     LT/ ST BkFac       CARE           4.5     Reaffirmed
                                                         BBB+(SO)/A3+
                                                         (SO)
Shri Govindkrupa Cotton Processing PvtLT Bk Fac          CARE BB-       12.25   Assigned
Ltd
Suvidhi Rayons Pvt Ltd                LT Bk Fac          CARE BB        25      Assigned
Transformers & Rectifiers (India) Ltd LT Bk Fac          CARE BBB+      39.45   Reaffirmed
Transformers & Rectifiers (India) Ltd LT/ ST BkFac       CARE BBB+ / A3+936     Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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