August 9, 2019 / 7:33 AM / 16 days ago

CARE ratings for Indian debt instruments-Aug 9

    Aug 9 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of August 8, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A.K. Builders                         ST Bk Fac          CARE A4        100
(Issuer Not Cooperating)
Aaren Exports                         ST Bk Fac          CARE A4        40
(Issuer Not Cooperating)
Bait Logitech Pvt Ltd                 ST Bk Fac          CARE A4        66      Assigned
Jain Irrigation Systems Ltd           ST Bk Fac          CARE A4        22200   Reaffirmed
K. T. Ravi                            ST Bk Fac          CARE A4        30
(Issuer Not Cooperating)
Lumens Aircon Pvt Ltd                 ST Bk Fac          CARE A4        35
(Issuer Not Cooperating)
Mohd Firoz Construction Company       ST BkFac           CARE A4        35
(Issuer Not Cooperating)
Mothi Spinner Pvt Ltd                 ST Bk Fac          CARE A2        200
(Issuer Not Cooperating)
Pacific Academy Of Higher Education AnST Bk Fac          CARE D         62      Revised from
Research Society                                                                CARE A4+
(Issuer Not Cooperating)
R. K. Electrical Industries India Pvt ST Bk Fac          CARE A4        55
Ltd
(Issuer Not Cooperating)
Shri Sai Rice Mill                    ST Bk Fac          -              -       Withdrawn
Surya Telecom Pvt Ltd                 ST Bk Fac          CARE A4        70
(Issuer Not Cooperating)
Tide Water Oil Co. (India) Ltd        ST BkFac           CARE A1+       170     Assigned
Vaishnavi Biotech Ltd                 ST Bk Fac          CARE A4        30
(Issuer Not Cooperating)
Vodafone Idea Ltd                     ST Bk Fac          -              -       Withdrawn
                                      (Non-fund based) 

LONG TERM RATINGS:
-------------------
A.K. Builders                         LT Bk Fac          CARE B+        80      Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Aak Kamani Pvt Ltd                    Long/ST Bk Fac     CARE A/A2+     3880    Re-affirmed
(enhanced from 325.00 Crore)
Aaren Exports                         LT Bk Fac          CARE B-        154     Revised from
                                                                                CARE B
(Issuer Not Cooperating)
Adani Transmission Ltd                LT BkFac           CARE AA+       6000    Assigned
Adani Transmission Ltd                LT / ST Bk Fac     CARE AA+/A1+   4000    Assigned
Arg Housing Pvt Ltd                   LT Bk Fac          CARE D         171.7   Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Bait Logitech Pvt Ltd                 LT Bk Fac          CARE B         55      Assigned
Baldev Krishan Memorial Charitable    LT Bk Fac          CARE D         86
Society
(Issuer Not Cooperating)
Bank Of Baroda                        CD                 -              -       Withdrawn
Dashmesh Rice Mills_(Tarn Taran)      LT Bk Fac          CARE D         60
(Issuer Not Cooperating)
Dhuria Rice Mill                      LT Bk Fac          CARE B-        75      Revised from
                                                                                CARE B
(Issuer Not Cooperating)
Ems Infracon Pvt Ltd                  Long- Term BkFac   CARE BB+       157.5   Revised from
                                                                                CARE BBB-
(Issuer Not Cooperating)
Ems Infracon Pvt Ltd                  Long- Term/        CARE BB+/A4    1400    Revised from
                                      Shortterm Bk Fac                          CARE BBB-/
                                                                                CARE A3
(Issuer Not Cooperating)
Global Denims Pvt Ltd                 LT Bk Fac          CARE B         61.7    Revised from
                                                                                CARE D
(reduced from 7.17 Crore)
Guru Nanak Rice Mills                 LT Bk Fac          CARE D         150
(Issuer Not Cooperating)
Jain Irrigation Systems Ltd           LT Bk Fac – TL     CARE B+        7832    Revised from
                                                                                CARE BB
Jain Irrigation Systems Ltd           LT Bk Fac –        CARE B+        16500   Revised from
                                      Working capital                           CARE BB
Jindal Power Ltd                      LT Bk Fac (TL)     CARE BBB+      30395.3 Revised from
                                                                                CARE A-
(reduced from Rs 3,113.87 crore Crore)
K. T. Ravi                            Long -term Bk Fac  CARE BB-       70      Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Kesari Roller Flour Mills Pvt Ltd     LT Bk Fac          CARE BB+       300     Assigned
Lara Drugs Pvt Ltd                    LT Bk Fac          -              -       Withdrawn
Lumens Aircon Pvt Ltd                 LT Bk Fac          CARE B+        37.5    Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Madhav Infra Projects Ltd             LT BkFac           CARE BBB-      1678.9  Revised from
                                                                                CARE BBB+
(reduced fromRs.174.65 crore Crore)/Under credit watch with negative implications
Madhav Infra Projects Ltd             LT/ ST Bk Fac      CARE BBB-/A3   3750    Revised from
                                                                                CARE
                                                                                BBB+/CARE A3+
Under credit watch with negative implications
Makro Cast Pvt Ltd                    Long -term Bk Fac  CARE D         360
(Issuer Not Cooperating)
Mirus Infratech Pvt Ltd               LT BkFac           CARE B         75      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Mohd Firoz Construction Company       LT BkFac           CARE B         20
(Issuer Not Cooperating)
Mothi Spinner Pvt Ltd                 LT Bk Fac          CARE BBB+      2383
(Issuer Not Cooperating)
Mothi Spinner Pvt Ltd                 Long/ST BkFac      CARE BBB+/A2   170
(Issuer Not Cooperating)
Narendranath Agency                   LT BkFacility      CARE B         70      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Nv Distilleries Pvt Ltd               LT BkFac(Fund      CARE BBB-      600     Revised from
                                      Based)                                    CARE BB+
Pacific Academy Of Higher Education AnLT Bk Fac          CARE D         430.9   Revised from
Research Society                                                                CARE BB+
(Issuer Not Cooperating)
Peesari Sudhakar Reddy                LT Bk Fac          CARE B+        65      Assigned
Pradeep Udyog                         Long- term Bk Fac  CARE D         100
(Issuer Not Cooperating)
Quadros Motors Pvt Ltd                Long term Bk Fac   CARE D         62
(Issuer Not Cooperating)
R V Realty                            Long- term Bk Fac  CARE D         95
(Issuer Not Cooperating)
R. K. Electrical Industries India Pvt LT Bk Fac          CARE C         30
Ltd
(Issuer Not Cooperating)
Ramakrishna Electrinics_Karnataka     Long -term Bk Fac  CARE D         60
Devision
(Issuer Not Cooperating)
Sadbhav Vizag Port Road Pvt Ltd       LT Bk Fac          -              -       Withdrawn
Samhi Hotels (Gurgaon) Pvt Ltd        LT Bk Fac (TL)     CARE BBB-      1200    Assigned
Samhi Hotels (Gurgaon) Pvt Ltd        Loan term Bk Fac   CARE BBB-      90      Assigned
                                      (Overdraft)
Samhi Hotels (Gurgaon) Pvt Ltd        LT/ST NonFB Fac    CARE BBB-/A3   90      Assigned
                                      (BG)
Shardha J Shetty                      LT Bk Fac          CARE B+        150     Assigned
Shri Sai Rice Mill                    LT Bk Fac          -              -       Withdrawn
Surya Telecom Pvt Ltd                 LT Bk Fac          CARE B         28.5
(Issuer Not Cooperating)
Tide Water Oil Co. (India) Ltd        LT Bk Fac          CARE AA        250     Assigned
Tide Water Oil Co. (India) Ltd        LT/STBk Fac        CARE AA/A1+    600     Reaffirmed
(enhanced from 45.00 Crore)
Vaishnavi Biotech Ltd                 Long -term Bk Fac  CARE BB-       70      Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Vardhman Industrial Steel Pvt Ltd     LT BkFac           CARE B         120     Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Vikas Steel Inc.                      LT BkFac           CARE B         200     Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Vikas Steel Inc.                      LT/STBk Fac        CARE B /A4     50      Revised from
                                                                                CARE B+/CARE
                                                                                A4
(Issuer Not Cooperating)
Vinay Steel                           LT Bk Fac          CARE B         100
(Issuer Not Cooperating)
Vodafone Idea Ltd                     ST Bk Fac (Fund    -              -       Withdrawn
                                      based)#
#rating withdrawn based on no-dues certificate received from the company
Vodafone Idea Ltd                     CP (CP) Issue      -              -       Withdrawn
Vodafone Idea Ltd                     LT Bk Fac (TL)     CARE A         139844.7Revised from
                                                                                CARE A+
(reduced from 13,998.34 Crore)
Vodafone Idea Ltd                     LT Bk Fac (Fund    CARE A         8220    Revised from
                                      based)                                    CARE A+
Vodafone Idea Ltd                     LT Bk Fac          CARE A         219557.9Revised from
                                      (Non-fund based)                          CARE A+
(enhanced from 19,130.18 Crore)
Vodafone Idea Ltd                     LT Bk Fac          CARE A         127041.7Assigned
                                      (Non-fund based)*
*rating reclassified from short term to long term
Vodafone Idea Ltd                     NCD (NCD) issue    CARE A         79010   Revised from
                                                                                CARE A+
(reduced from 8,401.00 Crore)
--------------------------------------------------------------------------------------------
$: 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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