August 29, 2019 / 7:23 AM / 20 days ago

CARE ratings for Indian debt instruments-Aug 29

    Aug 29 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 28, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ae Infra Projects Pvt Ltd             ST Bk Fac          CARE D         50      Revised from
                                                                                CARE A4
(Issuer Not Cooperating)
Chemsol Labs Pvt Ltd                  ST BkFac           CARE A4        41.8
(Issuer Not Cooperating); Based on best available information
Ctc Geotechnical Pvt Ltd              ST Bk Fac          CARE A4        18      Reaffirmed
Kora Shoes Pvt Ltd                    ST Bk Fac          CARE A4        164.5
(Issuer Not Cooperating); Based on best available information
Lokesh Machines Ltd                   ST Bk Fac          CARE A4        132.5   Reaffirmed
(reduced from 19.50 Crore)
Pk Laxmi Mill India Pvt Ltd           ST Bk Fac          CARE A3        145     Assigned
Pkpn Spinning Mills Pvt Ltd           ST Bk Fac          CARE A3        260.7   Assigned
Sri Sai Durga Infratech India Pvt Ltd ST Bk Fac          CARE D         50
(Issuer Not Cooperating); Based on best available information
Sri Venkatesh Iron And Alloys (India) ST Bk Fac          CARE A4        9
Ltd
(Issuer Not Cooperating); Based on best available information
Thenpandian Spinning Mills India Pvt LST Bk Fac          CARE A4        60
(Issuer Not Cooperating); Based on best available information
Trimula Sponge Iron Pvt Ltd           ST Bk Fac          CARE A4+       10      Reaffirmed

LONG TERM RATINGS:
-------------------
Ae Infra Projects Pvt Ltd             LT Bk Fac          CARE D         50      Revised from
                                                                                CARE B+/
                                                                                Stable
(Issuer Not Cooperating)
Bnp Paribas Asset Management India PvtOpen Ended Debt    CARE AAAmfs    -       Reaffirmed
Ltd-Bnp Paribas Low Duration Fund     Scheme
(Erstwhile Bnp Paribas Money Plus Fund)
Bnp Paribas Asset Management India PvtOpen Ended Debt    CARE AAAmfs    -       Reaffirmed
Ltd-Bnp Paribas Short Term Fund       Scheme
(Erstwhile Bnp Paribas Short Term Income Fund)
Chemsol Labs Pvt Ltd                  Long -term BkFac   CARE B/ Stable 30      Revised from
                                                                                CARE B+/
                                                                                Stable
(Issuer Not Cooperating); Based on best available information
Ctc Geotechnical Pvt Ltd              LT/ STBk Fac       CARE BB/       82      Reaffirmed
                                                         Stable/CARE A4
Durgapur Institute Of Advanced        LT BkFac           CARE BB-/      500     Revised form
Technology And Management                                Stable                 CARE BB/
                                                                                Stable
(Issuer Not Cooperating); Based on best available information
Etawah-Chakeri (Kanpur) Highway Pvt LtLT Bk Fac          CARE BB        13752
Placed on credit watch with developing implications
G R Infraprojects Ltd                 LT Bk Fac-Term     -              -       Withdrawn
                                      debt*
*CARE has withdrawn the rating assigned to the rated term debt of GRIL with immediate effect, as
company has repaid the rated term debt in full and there is no amount outstanding as on date. 
G R Infraprojects Ltd                 NCD Issue 1 (NCD – -              -       Withdrawn
                                      I) – Tranche 1^
^CARE has withdrawn the rating assigned to the NCD Issue (Tranche 1) of GRIL with immediate
effect, as company has repaid the aforementioned NCD in full and there is no amount outstanding
under the issue as on date 
G R Infraprojects Ltd                 LT Bk Fac          CARE AA-/      2487.5  Reaffirmed
                                                         Positive
(enhanced from Rs.200.00 Crore)
G R Infraprojects Ltd                 NCD Issue 2 (NCD   CARE AA-/      500     Reaffirmed
                                      –II)*              Positive
* Outstanding as on June 30, 2019/(reduced from 120.00 Crore)
G R Infraprojects Ltd                 LT / STBk Fac      CARE AA-/      34012.5 Reaffirmed
                                                         Positive /CARE
                                                         A1+
(Enhanced from Rs.2,550 Crore)
Ghv (India) Pvt Ltd                   LT/ST Bk Fac       CARE A/        9500    Reaffirmed
                                                         Stable/CARE A1         and Withdrawn
Ghv (India) Pvt Ltd                   LT Bk Fac          CARE A/        2500    Reaffirmed
                                                         Stable/CARE A1         and Withdrawn
Holo Pack Securities                  LTBk Fac           CARE B         55      Revised from
                                                                                CARE B+/
                                                                                Stable
(Issuer Not Cooperating); Based on best available information
Kora Shoes Pvt Ltd                    Long -term Bk Fac  CARE BB-/      24.9
                                                         Stable
(Issuer Not Cooperating); Based on best available information
Lokesh Machines Ltd                   LT Bk Fac          CARE BB+/      626.1   Revised from
                                                         Stable                 CARE BB/
                                                                                Stable
(reduced from 65.69 Crore)
Lokesh Machines Ltd                   LT/ ST Bk Fac      CARE BB+/      62.5    Revised from
                                                         Stable /CARE A4        CARE A4
Lolark Polytex Pvt Ltd                LT BkFac           CARE BB/       60      Revised from
                                                         Stable                 CARE BB/
                                                                                Stable
(Issuer Not Cooperating)
Lolark Polytex Pvt Ltd                LT BkFac           CARE BB/       60      Revised from
                                                         Stable                 CARE BB/
                                                                                Stable
(Issuer Not Cooperating)
Manappuram Home Finance Ltd           LT Bk Fac          CARE AA-/      750     Reaffirmed
                                                         Stable
Manappuram Home Finance Ltd           NCD (Public Issue) CARE AA-/      2000    Assigned
                                                         Stable
Mithun Reddy                          LT Bk Fac          CARE B+/       72.2    Assigned
                                                         Stable
New Lakshmi Jewellery                 LT Bk Fac          CARE BB-/      175     Reaffirmed
                                                         Stable
Ongole Arogya Hospitals Pvt Ltd       Long -term Bk Fac  CARE D         380
(Issuer Not Cooperating); Based on best available information
Oriental Nagpur Bye Pass Construction LT Bk Fac          CARE BB        10095.1
Pvt Ltd
Placed on credit watch with developing implications
Oriental Pathways (Indore) Pvt Ltd    LT Bk Fac (Senior  CARE A-        1439.5
                                      Debt)
Placed on credit watch with developing implications
Oriental Pathways (Indore) Pvt Ltd    NCDs (NCDs)        CARE A-        1846.4
Placed on credit watch with developing implications
Oriental Pathways (Indore) Pvt Ltd    LT Bk Fac          CARE BBB+      726.8
                                      (Subordinated Debt)
Placed on credit watch with developing implications
Pk Laxmi Mill India Pvt Ltd           LT Bk Fac          CARE BBB-/     157     Assigned
                                                         Stable
Pkpn Spinning Mills Pvt Ltd           LT Bk Fac          CARE BBB-/     408     Assigned
                                                         Stable
Sapthagiri Hospitality Pvt Ltd        LT BkFac           CARE B+/Stable 151.9   Revised from
                                                                                CARE BB-/
                                                                                Stable
(Issuer Not Cooperating); Based on best available information
Senthur Textiles Pvt Ltd              Long -term Bk Fac  CARE B/ Stable 77.3
(Issuer Not Cooperating); Based on best available information
Shree Ganesh Poly Plast Pvt Ltd       LT Bk Fac          CARE D         61.2    Revised from
                                                                                CARE BB-
(Issuer Not Cooperating); Based on best available information
Shri Dattaprabhu Agro Industries Pvt LLT Bk Fac          CARE D         116.2   Revised from
                                                                                CARE B+/Stable
Sri Laxmi Vinayaka Rice Industries    Long –term Bk Fac  CARE BB-/Stable130     Assigned
Sri Ranga Textiles Pvt Ltd            Long -term Bk Fac  CARE BB-       85.4
(Issuer Not Cooperating); Based on best available information
Sri Sai Durga Infratech India Pvt Ltd Long –term Bk Fac  CARE D         50
(Issuer Not Cooperating); Based on best available information
Sri Sai Durga Infratech India Pvt Ltd Long –term/ ST Bk  CARE D/CARE D  230
                                      Fac
(Issuer Not Cooperating); Based on best available information
Sri Saraswathi Educational Society    Long -term BkFac   CARE B/ Stable 150     Revised from
                                                                                CARE B+/
                                                                                Stable
(Issuer Not Cooperating); Based on best available information
Sri Venkatesh Iron And Alloys (India) LT Bk Fac          CARE BB-       138     Revised from
Ltd                                                                             CARE BB
(Issuer Not Cooperating); Based on best available information
Thenpandian Spinning Mills India Pvt LLong -term Bk Fac  CARE B+        240
(Issuer Not Cooperating); Based on best available information
Trimula Sponge Iron Pvt Ltd           LT Bk Fac          CARE BB+/      60      Reaffirmed
                                                         Stable
Vikas Associates                      LT Bk Fac          CARE BB/ Stable90
(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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