August 12, 2019 / 6:18 AM / a month ago

CARE ratings for Indian debt instruments-Aug 12

    Aug 12 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 9, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Amsat Industries Pvt Ltd              ST Fac             CARE A4        5       -
Issuer Not Cooperating; Based on best available information
Asomi Finance Pvt Ltd                 ST Bk Fac          CARE A4        -       Withdrawn
Bajrang Nirman Pvt Ltd                ST Bk Fac          CARE A4        30      Assigned

Chetak Enterprises Ltd                CP (CP) (carved    CARE A1+       -       Withdrawn
                                      out of FB working
                                      capital limits)
Chetak Enterprises Ltd                CP (Standalone)#   CARE A1+       -       Withdrawn
# Chetak Enterprises Ltd (CEL) had given an undertaking to keep its sanctioned fund based
working capital limits unutilized to the extent of its standalone CP issue of Rs.25 crore. CEL
had also confirmed that the total utilization of its fund based working capital limits and
outstanding CP shall not exceed its sanctioned fund based limits or drawing power, whichever is
lower.
Dr. O.P. Chaudhary Memorial Trust     ST Bk Fac          CARE D         16
Revised from CARE A4; Issuer Not Cooperating
Idea Sales Agencies Pvt Ltd           ST Bk Fac          CARE A4        13.5    -
Issuer Not Cooperating; based on best available information
Kumar Brothers Chemists Pvt Ltd       ST Bk Fac          CARE A4        2.5     Reaffirmed
Mahavir Polyplast Pvt Ltd             ST Fac             CARE A4        42.5    -
Issuer Not Cooperating; Based on best available information
R. S. Infra Transmission Ltd          ST Bk Fac          CARE A4        350     -
Issuer Not Cooperating; based on best available information
R.K Chavan Infrastructure Pvt Ltd     ST Bk Fac          CARE A4        26.3    -
Issuer Not Cooperating, based on best available information
Racl Geartech Ltd                     ST Bk Fac          CARE A3        50
Reaffirmed ; (enhanced from 2.00 Crore)
Servewell Household Appliances        ST Bk Fac          CARE A3        45
Reaffirmed and removed from Issuer Not Cooperating
Stylo Tablewares                      ST Bk Fac          CARE A3        72
Reaffirmed and removed from Issuer Not Cooperating; (Reduced from 7.50 Crore)
Vinati Organics Ltd                   ST Bk Fac          CARE A1+       316.5   Reaffirmed
Western Transformer & Equipment Pvt LtST Bk Fac          CARE A4        30      -
Issuer Not Cooperating;Based on best available information

LONG TERM RATINGS:
-------------------
Adhikar Microfinance Pvt Ltd          LT Bk Fac          CARE BB        -       Withdrawn
Amsat Industries Pvt Ltd              LT Fac             CARE C         72      -
Issuer Not Cooperating; Revised from CARE B- on the best available information
Asomi Finance Pvt Ltd                 LT Bk Fac          CARE BB        -       Withdrawn
Bajrang Nirman Pvt Ltd                LT Bk Fac          CARE BB-       20      Assigned
Better Value Leasing And Finance Ltd  LT Bk Fac          CARE B         270
Revised from CARE BBB- (Credit watch with developing implications)
Chetak Enterprises Ltd                Proposed LT NCDs   CARE A+        -       Withdrawn
                                      (NCD)
Dr. O.P. Chaudhary Memorial Trust     LT Bk Fac          CARE D         34.8
Revised from CARE B; Stable; Issuer Not Cooperating
Hampson Industries Pvt Ltd            LT Bk Fac          CARE B         150     Assigned
Idea Sales Agencies Pvt Ltd           LT Bk Fac          CARE B         129.3   -
Issuer Not Cooperating; based on best available information
Kumar Brothers Chemists Pvt Ltd       LT Bk Fac          CARE B+        370
Revised from CARE BB-
M J Engineering Works Pvt Ltd         LT Bk Fac          CARE C         143.5   -
Issuer Not Cooperating; based on best available information
M J Engineering Works Pvt Ltd         LT/ ST Bk Fac      CARE C/ A4     27      -
Issuer Not Cooperating; based on best available information
M.G. Oils                             LT Bk Fac          CARE BB        43
Reaffirmed; (Reduced from 17.34 Crore)
M.G. Oils                             LT/ ST Bk Fac      CARE BB/ A4    220
Reaffirmed; (Reduced from 51.00 Crore)
Mahavir Polyplast Pvt Ltd             LT Fac             CARE B         87.5    -
Issuer Not Cooperating; Based on best available information
Naiknavare Profile Constructions Pvt LNon – Convertible  CARE C         700     Reaffirmed
                                      Debentures
Naiknavare Profile Constructions Pvt LProposed Non –     CARE C         100     Assigned
                                      Convertible
                                      Debentures
Palla Silks Pvt Ltd                   Long -term Bk Fac  CARE B+        80      -
Issuer Not Cooperating; Revised from CARE BB-; Issuer Not Cooperating on the basis of best
available information
Phool Chand Infrastructure Pvt Ltd    LT Bk Fac          CARE B         250     -
Issuer Not Cooperating; Revised from CARE B+; on the basis of best available information
R. S. Infra Transmission Ltd          LT Bk Fac          CARE BB-       25      -
Issuer Not Cooperating; revised from CARE BB; on the basis of best available information
R. S. Infra Transmission Ltd          LT/ST Bk Fac       CARE BB- / A4  180     -
Issuer Not Cooperating; revised from CARE BB; Stable/CARE A4 on the basis of best available
information
R.K Chavan Infrastructure Pvt Ltd     LT Bk Fac          CARE B+        123.7   -
Issuer Not Cooperating, based on best available information
Racl Geartech Ltd                     LT Bk Fac          CARE BBB       975.8
Rating Reaffirmed; Outlook revised to Positive ; (enhanced from 76.99 Crore)
S.M. Constructions                    LT Bk Fac          CARE D         63.9    -
Issuer Not Cooperating, Based on best available information
Servewell Household Appliances        LT/ ST Bk Fac      CARE BBB-/ A3  45
Reaffirmed and removed from Issuer Not Cooperating
Stylo Tablewares                      LT/ ST Bk Fac      CARE BBB-/ A3  25
Reaffirmed and removed from Issuer Not Cooperating
Umashakti Steels Pvt Ltd              LT Bk Fac          CARE BB+       150     -
Issuer Not Cooperating; Based on best available information
Vinati Organics Ltd                   LT/ ST Bk Fac      CARE AA/ A1+   350
Revised from CARE AA-; /CARE A1+
Wadhawan Global Capital Ltd           NCD Issue          -              -       Withdrawn
Western Transformer & Equipment Pvt LtLT Bk Fac          CARE B+        30      -
Issuer Not Cooperating; Based on best available information
Western Transformer & Equipment Pvt LtLT/ST Bk Fac       CARE B+/ A4    50      -
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)
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