December 19, 2019 / 4:35 AM / 2 months ago

CARE ratings for Indian debt instruments-Dec 19

    Dec 19 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 18, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ace Tyres Ltd                         ST Bk Fac          CARE A1+       69.8    Reaffirmed
Amartara Pvt Ltd                      ST Bk Fac          CARE A4        52.5    Reaffirmed
Ashoka Manufacturing Ltd              ST Bk Fac          CARE D         35      Revised from
                                                                                CARE A4+
Ashok Khandelwal                      ST BkFac           CARE A4        49.5
(Issuer Not Cooperating)
G.R. Fabrics Pvt Ltd                  ST Bk Fac          CARE A4        10      Reaffirmed
Icici Prudential Mutual Fund          ST Bk Fac          CARE A1+       65000   Reaffirmed
Independent News Services Pvt Ltd     ST Bk Fac          CARE A1+       10      Reaffirmed
Jsw Energy (Barmer) Ltd               CPIssue            CARE A1+       1000
(Placed on Credit watch with Negative Implications)
Jsw Energy Ltd                        CPIssue            CARE A1+       7000
(Placed on Credit watch with Negative Implications)
Jsw Hydro Energy Ltd                  CPIssue            CARE A1+       3000
Placed on Credit watch with Negative Implications
Kkr India Financial Services Ltd      CP                 -              -       Withdrawn
Laxminarayan Spinners (I) Pvt Ltd     ST Bk Fac          CARE A4        24      Reaffirmed
Merino Industries Ltd                 ST BkFac           CARE A1+       1400    Reaffirmed
(enhanced from RS.125.00 crore Crore)
Merino Panel Products Ltd             ST BkFac           CARE A1+       500     Reaffirmed
National Bulk Handling Corporation PvtST Bk Fac          CARE A1        1160    Revised from
Ltd                                                                             CARE A1+
(reduced from 131.00 Crore)
National Bulk Handling Corporation PvtCP (carved out of  CARE A1        1500    Revised from
Ltd                                   working capital                           CARE A1+
                                      limits)
(reduced from Rs. 350 Crore)
Neilsoft Pvt Ltd (Formerly Known As   ST Bk Fac          CARE A2        30      Reaffirmed
Neilsoft Ltd)
Tata Steel Bsl Ltd                    CP                 CARE A1+       20000   Reaffirmed
Uni-Com India Pvt Ltd                 ST Bk Fac          CARE A2+       200     Reaffirmed
Vilas Polymer Ltd                     ST Bk Fac          CARE A2+       51      Reaffirmed
Vinshil Polychem                      ST Bk Fac          CARE A4        60      Reaffirmed
Western Heat And Forge Pvt Ltd        ST BkFac           CARE A3        200     Reaffirmed

LONG TERM RATINGS:
-------------------
Aastha Travels Pvt Ltd                LT/ ST Bk Fac      -              -       Reaffirmed at
                                                                                CARE BB;
                                                                                Stable/ CARE A4
                                                                                and Withdrawn
Aastha Travels Pvt Ltd                Long- Term Bk Fac  -              -       Reaffirmed at
                                                                                CARE BB
                                                                                Stable and
                                                                                Withdrawn
Ace Tyres Ltd                         LT Bk Fac          CARE A+;       100     Reaffirmed
                                                         Stable
Amartara Pvt Ltd                      LT Bk Fac          CARE B+;       1       Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
Amartara Pvt Ltd                      Long / ST BkFac    CARE B+;       252.5   Revised from
                                                         Stable/CARE A4         CARE BB;
                                                                                Stable/ short
term rating reaffirmed
Ashok Khandelwal                      LT BkFac           CARE BB-;      50.5    Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(Issuer Not Cooperating)
Ashoka Manufacturing Ltd              LT Bk Fac          CARE D         68.3    Revised from
                                                                                CARE BB;
                                                                                Stable
Cccl Infrastructure Ltd               LT Bk Fac          CARE D         550     Revised from
                                                                                CARE BB-;
                                                                                Stable
(Issuer Not Cooperating)
Devangi Construction                  LT Bk Fac          CARE B+;       75      Reaffirmed
                                                         Stable;
(removed from Issuer NonCooperation category)
Edelweiss Finance And Investments Ltd NCDs (Public       CARE AA-;      5000    Assigned
                                      issue)             Stable
G.R. Fabrics Pvt Ltd                  LT Bk Fac          CARE BB-;      87.7    Reaffirmed
                                                         Stable
Garg Polypacks Pvt Ltd                LT Bk Fac          CARE BB-;      70
                                                         Stable
(Issuer Not Cooperating)
H M Steels Ltd                        LT Bk Fac          CARE BB-;      449.6   Revised from
                                                         Stable                 CARE B+;
                                                                                Stable
(reduced from Rs 49.03 crore Crore)
Icici Prudential Mutual Fund          Overdraft          -              -       Withdrawn
                                      facility^
^Based on the No Dues Email provided by the bank that has extended the facility rated by CARE 
Independent News Services Pvt Ltd     LT Bk Fac          CARE A+; Stable180     Reaffirmed
Ipca Laboratories Ltd                 LT/ST Bk Fac       CARE AA;       11400   Reaffirmed
                                                         Stable/CARE A1+
Jai Hind Wire Rod Mills Pvt Ltd       Long -term Bk Fac  CARE BB-;      250     Reaffirmed
                                                         Stable
Laxminarayan Spinners (I) Pvt Ltd     LT Bk Fac          CARE BB-;      319     Reaffirmed
                                                         Stable
Merino Industries Ltd                 LT BkFac           CARE AA-;      1697.7  Reaffirmed
                                                         Stable
( enhanced from Rs.116.05 Crore)
Merino Industries Ltd                 LT/STBk Fac        CARE AA-;      280     Reaffirmed
                                                         Stable/CARE A1+
Merino Panel Products Ltd             LT BkFac           CARE AA-;      270     Reaffirmed
                                                         Stable
Merino Panel Products Ltd             LT/STBk Fac        CARE AA-;      80      Reaffirmed
                                                         Stable/CARE A1+
Midas Naturals Pvt Ltd                LT BkFac           CARE BB;       213.6   Reaffirmed
                                                         Positive
Outlook revised from Stable to Positive /(reduced from Rs 24.30 Crore)
Mumbai Waste Management Ltd           LT Bk Fac – CC     -              -       Withdrawn
Mumbai Waste Management Ltd           LT Bk Fac - TL     -              -       Withdrawn
Nagpur Municipal Corporation          Bk Fac             CARE A-; Stable310     Reaffirmed
Nagpur Municipal Corporation          Proposed Bk Fac    CARE A-; Stable1690    Reaffirmed
National Bulk Handling Corporation PvtLT Bk Fac          CARE A; Stable 2307.1  Revised from
Ltd                                                                             CARE A+;
                                                                                Stable
(reduced from 246.63 Crore)
National Bulk Handling Corporation PvtLT/ST Bk Fac       CARE A;        4650    Revised from
Ltd                                                      Stable/CARE A1         CARE A+;
                                                                                Stable/ CARE A1+
(reduced from 555.00 Crore)
Neilsoft Pvt Ltd (Formerly Known As   LT Bk Fac          CARE A-;       587.7   Reaffirmed
Neilsoft Ltd)                                            Stable
Platina Steels Pvt Ltd                LT Bk Fac          CARE D         171.6   Revised from
                                                                                CARE B
(Issuer Not Cooperating)
Pv Power Technologies Pvt Ltd         LT Bk Fac- TL      CARE BBB-;     35      Reaffirmed
                                                         Stable
Pv Power Technologies Pvt Ltd         Long/ST – Fund     CARE BBB-;     250     Reaffirmed
                                      Based              Stable/CARE A3
Pv Power Technologies Pvt Ltd         Long/ST – Non Fund CARE BBB-;     280     Reaffirmed
                                      Based              Stable/CARE A3
Radhegovindkripa Developers Pvt Ltd   LT Bk Fac          CARE BB-;      497.5   Assigned
                                                         Stable
Shree Sai Lifestyles                  LT Bk Fac          CARE BB;       100     Assigned
                                                         Stable
Shrikripa Poultry Feeds               LT BkFac           CARE B; Stable;60      Revised from
                                                                                CAREB+; Stable
(Issuer Not Cooperating)
Society Of Carmelite Sisters Of St.   LT BkFac           CARE BB-;      117.8   Revised from
Teresa                                                   Stable                 CARE BB;
                                                                                Stable
(Issuer Not Cooperating)
Sri Scl Infratech Ltd                 LT Bk Fac          CARE BB+;      250     Revised from
                                                         Stable                 CARE BB;Stable
Sri Scl Infratech Ltd                 LT/ STBk Fac       CARE BB+;      3000    Revised from
                                                         Stable/CARE A4+        CARE
                                                                                BB;Stable/CARE
                                                                                A4
Susheel Jewellery Mart (P) Ltd        LT Bk Fac          CARE BBB-;     350     Assigned
                                                         Stable
Tamilnadu Waste Management Ltd        LT Bk Fac – CC     -              -       Withdrawn
Tamilnadu Waste Management Ltd        LT Bk Fac - TL     -              -       Withdrawn
Tata Steel Bsl Ltd                    LT BkFac           CARE AA;       134000  Reaffirmed
                                                         Stable
(reduced from Rs. 19,000.00 Crore)
Tata Steel Bsl Ltd                    LT / ST Bk Fac     CARE AA;       52000   Reaffirmed
                                                         Stable /CARE
                                                         A1+
Tata Steel Ltd                        LT BkFac           CARE AA;       25000   Reaffirmed
                                                         Stable
(reduced from Rs. 22,800.00 Crore)
Tata Steel Ltd                        NCDs               CARE AA;       110000  Reaffirmed
                                                         Stable
Tata Steel Ltd                        Perpetual Bonds    CARE AA-;      22750   Reaffirmed
                                                         Stable
Tri Square Switchgear Pvt Ltd         LT BkFac           CARE BB; Stable139.2
(Issuer Not Cooperating)
Tri Square Switchgear Pvt Ltd         LT/ ST BkFac       CARE BB;       100
                                                         Stable /CARE A4
(Issuer Not Cooperating)
U I Fabricators Pvt Ltd               LT BkFac           CARE D         110     Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer Not Cooperating)
U I Fabricators Pvt Ltd               Proposed LTBk Fac  CARE D         10      Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer Not Cooperating)
Uni-Com India Pvt Ltd                 LT Bk Fac          CARE A-;       800     Reaffirmed
                                                         Stable
Vilas Polymer Ltd                     LT Bk Fac          CARE A; Stable 20      Reaffirmed
Vinshil Polychem                      LT Bk Fac          CARE B+; Stable5       Reaffirmed
Western Heat And Forge Pvt Ltd        LT BkFac           CARE BBB;      258.8   Reaffirmed
                                                         Negative
Outlook revised from Stable to Negative /(reduced from 26.58 Crore)
Western Heat And Forge Pvt Ltd        LT/STBk Fac        CARE BBB;      360     Reaffirmed /
                                                         Negative/CARE          Short term
                                                         A3                     rating
                                                                                reaffirmed
Outlook Revised from Stable to Negative/(reduced from 41.50 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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