December 18, 2018 / 8:11 AM / 7 months ago

CARE ratings for Indian debt instruments-Dec 18

   Dec 18 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 17, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Adhunik Niryat Ispat Ltd              ST Bk Fac          CARE A4        195     -
(Issuer Not Cooperating)
Agl Polyfil Pvt Ltd                   ST Bk Fac          CARE A4        59.4    Reaffirmed
Ashoka P.U. Foam (India) Pvt Ltd      ST Bk Fac          CARE A4        60      Reaffirmed

Bagla Polifilms Ltd                   ST Bk Fac          CARE A4+       65      Assigned
Creemos International Ltd             ST Bk Fac          CARE A4+       20      Assigned
Dfm Foods Ltd                         ST Bk Fac          CARE A1        163.3   Reaffirmed
Dhiraj Engineers & Contractors        ST Bk Fac          CARE A4        45      Reaffirmed
Hetro Spinners Pvt Ltd                ST Bk Fac          CARE A4        15.2    Reaffirmed
Mahavishnu Spinning Mills Pvt Ltd     ST Bk Fac          CARE A4        17.5    -
(Issuer Not Cooperating)
Pankaj Glass Works Ltd                ST Bk Fac          -              -       Withdrawn
Patwacity Automobiles Pvt Ltd         ST Bk Fac          CARE A4+       1       Reaffirmed
Rajeev Gupta                          ST Bk Fac          CARE A4        50      Reaffirmed
Ravali Spinners Pvt Ltd               ST Bk Fac@         CARE A3+ (SO)  30      Assigned
'@ backed by the unconditional and irrevocable corporate guarantee provided
 by RK Hair Products Private Limited and Indian Hair Industries Private Limited
S.N. Hotels And Resorts Pvt Ltd       ST Bk Fac          CARE A4        1.5     -
(Issuer Not Cooperating)
Fine Jewellery (India) Ltd            ST Bk Fac          -              -       Withdrawn
Shri Arunachaleswarar Tex             ST Bk Fac          CARE A4        30      -
(Issuer Not Cooperating)
Tata Communications Ltd               ST Bk Fac          CARE A1+       14330   Reaffirmed
The Delhi Flour Mills Co. Ltd         ST Bk Fac          CARE A3+       36.7    Reaffirmed
Vishakha Solar Films Pvt Ltd          ST Bk Fac          CARE A4        5.8     Reaffirmed
Win-Tel Ceramics Pvt Ltd              ST Bk Fac          CARE A4+       20      Reaffirmed

LONG TERM RATINGS:
-------------------
Adhunik Niryat Ispat Ltd              LT Bk Fac          CARE BB        30      -
(Issuer Not Cooperating)
Agl Polyfil Pvt Ltd                   LT Bk Fac          CARE B+        197.5   Reaffirmed
Annada Cold Storage Pvt Ltd           LT Bk Fac          CARE B         56      -
(Issuer Not Cooperating)
Arex Industries Ltd                   LT Bk Fac          CARE BBB       322.4   Reaffirmed
Arex Industries Ltd                   LT/ST Bk Fac       CARE BBB /CARE 55      Reaffirmed
                                                         A3+
Arya Motors                           LT Bk Fac          CARE BB-       140     -
(Issuer Not Cooperating)
Ashoka P.U. Foam (India) Pvt Ltd      LT Bk Fac          CARE BB        80      Reaffirmed
B. K Auto Agencies                    LT Bk Fac          CARE BB-       60      Assigned
Badri Ecofibres Pvt Ltd               LT Bk Fac          CARE BB        307     Assigned
Bagla Polifilms Ltd                   LT Bk Fac          CARE BB+       127.1   Assigned
Bagla Polifilms Ltd                   LT / ST Bk Fac     CARE BB+ /CARE 37.9    Assigned
                                                         A4+
Creemos International Ltd             LT Bk Fac          CARE BB        65.5    Assigned
Dfm Foods Ltd                         LT Bk Fac – TL     CARE A         855.7   Reaffirmed
Dfm Foods Ltd                         LT Bk Fac – CC     CARE A         145     Reaffirmed
Dhiraj Engineers & Contractors        LT Bk Fac          CARE BB-       29      Reaffirmed
Dimexon Diamonds Ltd                  LT Bk Fac          CARE BBB+      4699    Revised from
                                                                                CARE BBB
Fine Jewellery (India) Ltd            LT Bk Fac          -              -       Withdrawn
Fusion Voice Solutions India Pvt Ltd  LT Bk Fac          CARE BB-       180     Assigned
Gorakhpur Infrastructure Company Pvt  LT Instrument      -              -       Withdrawn
Ltd (Erstwhile Known As Gorakhpur     (Proposed NCD
Infrastructure Compan...              Issue)
Green View Udyog Pvt Ltd              LT Bk Fac          CARE B-        100     -
(Issuer Not Cooperating)
Gvk Power & Infrastructure Ltd        LT Bk Fac          CARE D         1059.4  Reaffirmed
Gvk Power & Infrastructure Ltd        Long/ST Bk Fac     CARE D/CARE D  953.8   Reaffirmed
Hariom Traders                        LT Bk Fac          CARE B         120     -
(Issuer Not Cooperating)
Harsh Gathani Enterprise Pvt Ltd      LT Bk Fac          -              -       Withdrawn
Hetro Spinners Pvt Ltd                LT Bk Fac          CARE BB-       216.8   Reaffirmed
Himalayan Creamery Pvt Ltd            LT Bk Fac          -              -       Withdrawn
Holo Pack Securities                  LT Bk Fac          CARE B+        55      -
(Issuer Not Cooperating)
K N Kuppusamy Educational Trust       LT Bk Fac          CARE BB-       140     Assigned
Kesar Terminals And Infrastructure LtdLT Bk Fac (TL)     --             -       Withdrawn
Kosi Bridge Infrastructure Company PvtLT Instrument      -              -       Withdrawn
Ltd                                   (Proposed NCDs issue)
Krishna Cotton                        LT Bk Fac          CARE B+        83.4    Rating
                                                                                revised from
                                                                                CARE B
(Issuer Not Cooperating)
M.G.Fibers                            LT Bk Fac          -              -       Withdrawn
Mahavishnu Spinning Mills Pvt Ltd     Long -term Bk Fac  CARE B         80      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Padmashree Charitable Trust           LT Bk Fac          CARE B+        100     Assigned
Pankaj Glass Works Ltd                LT Bk Fac          -              -       Withdrawn
Parth Thread Pvt Ltd                  LT Bk Fac          CARE BB-       134.1   -
(Issuer Not Cooperating)
Patwacity Automobiles Pvt Ltd         Long -term Bk Fac  CARE BB+       211.2   Reaffirmed
Point Footwear Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Pooja Cotspin Ltd                     LT Bk Fac          CARE BBB-      100.2   Reaffirmed
Pooja Cotspin Ltd                     LT/ST Bk Fac       CARE BBB-/CARE 10.7    Reaffirmed
                                                         A3
Popular Scooters Pvt Ltd              Long -term Bk Fac  CARE BB        100     -
(Issuer Not Cooperating)
Rajeev Gupta                          LT Bk Fac          CARE BB        30      Reaffirmed
Ravali Spinners Pvt Ltd               LT Bk Fac@         CARE BBB+ (SO) 1617.4  Assigned
'@ backed by the unconditional and irrevocable corporate guarantee provided
 by RK Hair Products Private Limited and Indian Hair Industries Private Limited
S.N. Hotels And Resorts Pvt Ltd       LT Bk Fac          CARE B+        55.9    -
(Issuer Not Cooperating)
Saanvi Associates                     LT Bk Fac          CARE D         82.9    Revised from
                                                                                CARE B, Stable
Sabarkantha District Cooperative Milk CP(CP) issue       -              -       Withdrawn
Producers Union Ltd                   (Standalone)
Safari Retreats Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Safewater Lines India Pvt Ltd         LT Bk Fac          CARE BBB-      97.5    Reaffirmed
Sagar Wines Marketeers Pvt Ltd        Bk Fac-FB - LT-CC  CARE BBB-      270     Reaffirmed
Shree Ram Cottex Industries Pvt Ltd   LT Bk Fac          CARE B+        300     Reaffirmed
Shri Arunachaleswarar Tex             Long -term Bk Fac  CARE B+        117     Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Sri Ganesh Jewellery Mart             LT Bk Fac          CARE BB        60      Assigned
Stellar Ventures Pvt Ltd              LT Bk Fac          CARE BB+       386.6   Revised from
                                                                                CARE BB
Sterling Addlife India Pvt Ltd        LT Bk Fac          CARE BBB+      388.2   Reaffirmed
Sterling Addlife India Pvt Ltd        Long/ST Bk Fac     CARE BBB+/CARE 450     Reaffirmed
                                                         A3+
Tata Communications Ltd               LT NCD 1           CARE AA+       1550    Reaffirmed
Tata Communications Ltd               Issuer Rating      CARE AA+       -       Reaffirmed
The Delhi Flour Mills Co. Ltd         LT Bk Fac – TL     CARE BBB       1873.3  Revised from
                                                                                CARE BBB
The Delhi Flour Mills Co. Ltd         LT Bk Fac – CC     CARE BBB       1000    Revised from
                                                                                CARE BBB
Universal Extrusions                  LT Bk Fac          CARE BB-       46.2    Rating
                                                                                revised from
                                                                                CARE B+
Vardhman Roller Flour Mills Pvt Ltd   LT Bk Fac          CARE B+        319     -
(Issuer Not Cooperating)
Vishakha Solar Films Pvt Ltd          LT Bk Fac          CARE BB        36.7    Reaffirmed
Vishakha Solar Films Pvt Ltd          LT / ST Bk Fac     CARE BB/CARE A4350     Reaffirmed
Win-Tel Ceramics Pvt Ltd              LT Bk Fac          CARE BB+       80      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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