August 8, 2019 / 8:32 AM / 2 months ago

CARE ratings for Indian debt instruments-Aug 8

    Aug 8 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 7, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Balarka Fabricon Pvt Ltd              ST Bk Fac          CARE A4        10      -
(Issuer not cooperating; Based on best available information)
Buildquick Infrastructure Pvt Ltd     ST Bk Fac          CARE A4        25      Reaffirmed
Gemscab Industries Ltd                ST Bk Fac          CARE A3+       1545    Reaffirmed
Geetanjali Ispat And Powers Pvt Ltd   ST Bk Fac          -              -       Withdrawn
Lemon Electronics Ltd                 ST Bk Fac          CARE D         650     Revised from
                                                                                CARE A4+
(Issuer not cooperating; Based on best available information)
Oilex Engineers (India) Pvt Ltd       ST Bk Fac          CARE A4+       73      -
(Issuer not cooperating; Based on best available information)
Paroha Developers                     ST Bk Fac          CARE A4        30      Assigned
Pacharia Exports Pvt. Ltd.            ST Bk Fac          -              -       Withdrawn
Pooja International                   ST Bk Fac          CARE A4        139.5   Revised from
                                                                                CARE A4
Primo Fashions                        ST Bk Fac          CARE A4        75.5    Assigned
Splenora Textures Llp                 ST Bk Fac          CARE A4        15      Reaffirmed
Steel Works And Power Engineers Pvt   ST Bk Fac          CARE A4        133     Assigned
Surya Roshni Ltd                      CP                 CARE A1+ (CE)  2500    Reaffirmed
Surya Roshni Ltd                      CP                 Provisional    150     -
                                                         CARE A1+ (CE)
(Revised from Final to Provisional)
Surya Roshni Ltd                      CP                 Provisional    850     -
                                                         CARE A1+ (CE)
(Revised from Final to Provisional)
Shree Raj Metalloys Pvt Ltd           ST Bk Fac          -              -       Withdrawn
Sushila International                 ST Bk Fac          -              -       Withdrawn
Synthiko Foils Ltd                    ST Bk Fac          CARE A4+       45      -
(Issuer not cooperating; Based on best available information)
Il&Fs Securities Services Ltd         Bk Fac (non-fund   CARE D         5250    Revised from
                                      based)                                    CARE A4
(Removed from credit watch with developing implications)

LONG TERM RATINGS:
-------------------
Anand Educational Society             LT Bk Fac          CARE C         80      Revised from
                                                                                CARE D
Azad Educational Society              LT Bk Fac          CARE C         143     Revised from
                                                                                CARE BB-
(Issuer not cooperating; Based on best available information)
Balarka Fabricon Pvt Ltd              LT Bk Fac          CARE BB        55.1    -
(Issuer not cooperating; Based on best available information)
Buildquick Infrastructure Pvt Ltd     LT Bk Fac          CARE B+        45      Reaffirmed
Dra Narmada Busport Pvt Ltd           LT Bk Fac (Fund    CARE A (CE)    1200    Reaffirmed
                                      based)
Dra Narmada Busport Pvt Ltd           LT Bk Fac (Non     CARE A (CE)    130     Reaffirmed
                                      fund based)
Geetanjali Ispat And Powers Pvt Ltd   LT Bk Fac          -              -       Withdrawn
Gemscab Industries Ltd                LT Bk Fac          CARE BBB+      1433.8  Reaffirmed
Jai Jyoti Texo Fab                    LT Bk Fac          CARE B+        79.4    -
(Issuer not cooperating; Based on best available information)
Kisanmitra Cold Storage Pvt Ltd       LT Bk Fac          CARE B+        168     Reaffirmed
Laxmi Engineering Industries (Bhopal) LT Bk Fac          CARE D         282.5   Revised from
Pvt Ltd                                                                         CARE BB
(Issuer not cooperating; Based on best available information)
Laxmi Engineering Industries (Bhopal) LT/ST Bk Fac       CARE D/D       100     Revised from
Pvt Ltd                                                                         CARE BB/A4
(Issuer not cooperating; Based on best available information)
Lemon Electronics Ltd                 LT Bk Fac          CARE D         225     Revised from
                                                                                CARE BB+
(Issuer not cooperating; Based on best available information)
Microplast Polytex Industries Pvt Ltd LT Bk Fac          CARE BB-       105.6   Reaffirmed
Northern Arc 2019 Csl Lamos - Si CrevaSeries A1 PTC      CARE A         151.4   Assigned
Capital Services Pvt Ltd (Si Creva)
Northern Arc 2019 Csl Lamos - Si CrevaSeries A2 PTC      CARE BBB+      5.3     Assigned
Capital Services Pvt Ltd (Si Creva)
Nv Distilleries & Breweries Pvt Ltd   LT Bk Fac(TL)      CARE BB-       1282.9  Revised from
                                                                                CARE B+
Nv Distilleries & Breweries Pvt Ltd   LT Bk Fac(Fund     CARE BB-       852.2   Revised from
                                      Based)                                    CARE B+
Nv Distilleries & Breweries Pvt Ltd   Long/ST Bk         CARE BB-/A4    17.5    Revised from
                                      Fac(Non-Fund Based)                       CARE B+/A4
Nv International Pvt Ltd              LT Bk Fac(TL)      CARE BB        876.8   Revised from
                                                                                CARE BB-
Nv International Pvt Ltd              LT Bk Fac(Fund     CARE BB        150     Revised from
                                      Based)                                    CARE BB-
Nv International Pvt Ltd              Long/ST Bk         CARE BB/A4     50      Revised from
                                      Fac(Non-Fund Based)                       CARE BB-/A4
Oilex Engineers (India) Pvt Ltd       LT Bk Fac          CARE BB+       2       -
(Issuer not cooperating; Based on best available information)
Oilex Engineers (India) Pvt Ltd       LT/ST Bk Fac       CARE BB+/A4+   20      -
(Issuer not cooperating; Based on best available information)
Paroha Developers                     LT Bk Fac          CARE B         23.3    Assigned
Patel Sethiyahopu - Cholopuram HighwayLT Bk Fac          CARE BBB       1000    Assigned
Pvt Ltd
Pooja International                   LT Bk Fac          CARE BB        6.7     Revised from
                                                                                CARE B+
Primo Fashions                        LT Bk Fac          CARE BB-       29.5    Assigned
Psk Engineering Constructions & Co    LT Bk Fac          CARE BB        600     Assigned
Psk Engineering Constructions & Co    LT/ST Bk Fac       CARE BB/A4     800     Assigned
R.J. Business Solutions Pvt Ltd       LT Bk Fac          CARE B+        124.5   Assigned
Rajdeep Construction                  LT Bk Fac          CARE BB-       40      Reaffirmed
Rajdeep Construction                  LT/ ST Bk Fac*     CARE BB-/A4    49      Reaffirmed
*reclassified from Short term to Long Term/ Short Term
Rn Rice Mill                          LT Bk Fac          CARE B         150     -
(Issuer not cooperating; Based on best available information)
Shree Raj Metalloys Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Splenora Textures Llp                 LT Bk Fac          CARE B+        190     Revised from
                                                                                CARE B
Steel Works And Power Engineers Pvt   LT Bk Fac          CARE BB        88      Assigned
Sun Projects India Pvt Ltd            LT Bk Fac          CARE BB-       147.1   Reaffirmed
Sundaram Steels Pvt Ltd               LT Bk Fac          CARE BB-       170.7   -
(Issuer not cooperating; Based on best available information)
Sushila International                 LT Bk Fac          -              -       Withdrawn
Synthiko Foils Ltd                    LT Bk Fac          CARE BB-       43.1    -
(Issuer not cooperating; Based on best available information)
Tejas Agro Irrigation Systems Pvt Ltd LT Bk Fac          -              -       Withdrawn
Themis Medicare Ltd                   LT Bk Fac          CARE D         113.8   Reaffirmed
Themis Medicare Ltd                   LT/ST Bk Fac       CARE D         801.5   Reaffirmed
Trupti Infrastructure Pvt Ltd         LT Bk Fac          CARE BB        35      Reaffirmed
Trupti Infrastructure Pvt Ltd         LT/Shortterm Bk FacCARE BB/A4+    85      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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