December 20, 2019 / 4:42 AM / a month ago

CARE ratings for Indian debt instruments-Dec 20

    Dec 20 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 19, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Exel Rubber Ltd                       ST Bk Fac          CARE A1+       611.5   Reaffirmed
Ezentech India Pvt Ltd                ST Bk Fac          CARE A4+       100     Assigned
Glochem Industries Pvt Ltd            ST BkFac           CARE A3+       155     Revised from
                                                                                CARE A2
Hcp Design Planning And Management PvtST Bk Fac          -              -       Reaffirmed at
Ltd                                                                             CARE BB;
                                                                                Stable /CARE A4
                                                                                and withdrawn
(Issuer Not Cooperating)
Indiabulls Properties Pvt Ltd         CP                 --             -       Withdrawn
Indiabulls Real Estate Company Pvt LtdCP                 --             -       Withdrawn
Kovai Medical Center And Hospital Ltd ST Bk Fac          CARE A1+       340     Reaffirmed
(enhanced from 30.00 Crore)
Krishna Global Marbles & Stone Llp    ST Fac             CARE A4        50      Assigned
Rajeev Gupta                          ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4
                                                                                andWithdrawn
The Malayala Manorama Co. Ltd         ST BkFac           CARE A1+       800     Reaffirmed
Unity Fabtext Industries Pvt Ltd      ST Bk Fac          CARE D         6       Assigned
 
LONG TERM RATINGS:
-------------------
Ahmedabad Ring Road Infrastructure LtdLT BkFac           CARE A         2172.2  Revised from
                                                                                CARE A+
(Under Credit watch with Developing Implications)
Arvind Goodhill Suit Manufacturing PvtLT BkFac           CARE BBB;      80.5    Revised from
Ltd                                                      Stable                 CARE BBB+;
                                                                                Stable
(reduced from 15.40 Crore)
Arvind Goodhill Suit Manufacturing PvtLT / ST Bk Fac     CARE BBB;      200     Revised from
Ltd                                                      Stable /CARE           CARE BBB+;
                                                         A3+                    Stable/ CARE A2
Binjhabahal To Telebani Section (Km   LT Bk Fac          CARE A-        4904.7
414.00 To Km 491.71) Of Nh-6 (New
Nh-49) Highway Pvt Ltd...
(Reduced from 557.47 Crore) /Placed on credit watch with developing implications
Exel Rubber Ltd                       LT Bk Fac          CARE A+;       170     Reaffirmed
                                                         Stable
Ezentech India Pvt Ltd                LT Bk Fac          CARE BB+;      123.5   Assigned
                                                         Stable
Ezentech India Pvt Ltd                LT/ST Bk Fac       CARE BB+;      2.4     Assigned
                                                         Stable/CARE A4+
Fdcm Esselworld Gorewada Zoo Pvt Ltd  LT Bk Fac-         CARE BB;       1500    Assigned
                                      Proposed TL        Stable
Glochem Industries Pvt Ltd            LT BkFac           CARE BBB;      212     Revised from
                                                         Stable                 CARE BBB+;
                                                                                Stable
(reduced from Rs.26 Crore)
Glochem Industries Pvt Ltd            LT/Shortterm Bk FacCARE BBB;      100     Revised from
                                                         Stable/CARE A3+        CARE BBB+;
                                                                                Stable/ CARE A2
Greenesol Power Systems Pvt Ltd       LT Bk Fac          CARE BBB-;     60      Revised from
                                                         Stable                 CARE BB+;
                                                                                Stable
Greenesol Power Systems Pvt Ltd       LT/ST BkFac        CARE BBB-;     240     Revised from
                                                         Stable /CARE A3        CARE BB+;
                                                                                Stable/ CARE A4+
Hcp Design Planning And Management PvtLT Bk Fac          -              -       Reaffirmed at
Ltd                                                                             CARE BB;
                                                                                Stable and
                                                                                Withdrawn
(Issuer Not Cooperating)
Hindustan Equipments Pvt Ltd          LT BkFac           CARE BB+;      497.1@  Revised from
                                                         Stable                 CARE BBB;
                                                                                Stable
(reduced from Rs. 58.27 Crore)/@Rs. 7.50 crore reclassified from LT to LT/ST and Rs.12.50 crore
reclassified from ST to LT/ST
Hindustan Equipments Pvt Ltd          LT/Shortterm Bk FacCARE BB+;      396@    Revised from
                                                         Stable/CARE A4+        CARE BBB;
                                                                                Stable/ CARE A3
(enhanced from Rs. 9.60 Crore)/@Rs. 7.50 crore reclassified from LT to LT/ST and Rs.12.50 crore
reclassified from ST to LT/ST
Inarco Pvt Ltd                        LT BkFac (TL)      -              -       Withdrawn
Inarco Pvt Ltd                        LT/STBk Fac        CARE BBB;      100     Reaffirmed
                                                         Stable/CARE A3+
(Outlook revised from Positive to Stable)
Jay Iber Pvt Ltd                      LT BkFac           CARE B; Stable 55.7
(Issuer Not Cooperating)
Kovai Medical Center And Hospital Ltd LT Bk Fac          CARE A+; Stable6234.2  Reaffirmed
(reduced from 664.98 Crore)
Krishna Global Marbles & Stone Llp    LT Fac             CARE BB;       45.9    Assigned
                                                         Stable
Krishna Global Marbles & Stone Llp    LT / ST BkFac      CARE BB;       205     Assigned
                                                         Stable/CARE A4
Manisha Creations                     LT Bk Fac          CARE BB;       165     Reaffirmed
                                                         Stable
(enhanced from 14.00 Crore)
Mithila Cars Pvt Ltd                  LT Bk Fac          CARE D         300     Revised from
                                                                                CARE C;Stable
(Issuer Not Cooperating)
Northern Arc 2019 Cv                  Series A2 PTC      ProvCARE A (SO)-       Assigned
Wendell
Originator: Kogta Financial
India Ltd
Northern Arc 2019 Cv                  Series A1 PTC      Prov CARE AA-  -       Assigned
Wendell Originator: Kogta Financial                      (SO)
India Ltd
P.K. Metal Industries                 LT Bk Fac          CARE D         64.5    Revised from
                                                                                CARE B+;
                                                                                Stable
Rajeev Gupta                          LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB;
                                                                                Stable and
                                                                                Withdrawn
Rajiv Chowk Sohna Highway Pvt Ltd     LT BkFac           CARE A-        3378*
Placed on credit watch with developing implications /* Includes Bank Guarantee amounting to
Rs.78 crore as Sub-limit of this term loan facility.
Satguru Agro Industries Ltd           LT Bk Fac          CARE B-        205
(Issuer Not Cooperating)
Scasa Nutrients Pvt Ltd               LT Bk Fac          CARE BB-;      200     Assigned
                                                         Stable
Shivshanti Hospitality Pvt Ltd        LT Bk Fac          CARE B;Stable  100
(Issuer Not Cooperating)
Shree Geeta Textile Mills Pvt Ltd     LT Bk Fac          CARE D         438.1   Revised from
                                                                                CARE B+;
                                                                                Stable
Shri Dattaprabhu Agro Industries Pvt LLT Bk Fac          CARE D         109.4   Reaffirmed
Sophisticated Industrial Materials    LT BkFac           CARE BB+;      103     Reaffirmed
Analytic Labs Pvt Ltd                                    Stable
(enhanced from 5.83)/removed from Issuer Not Cooperating
Sophisticated Industrial Materials    LT/ ST Bk Fac      CARE BB+;      170
Analytic Labs Pvt Ltd                                    Stable/CARE A4+
(enhanced from 12.00)/removed from Issuer Not Cooperating
St. Patricks Realty Pvt Ltd           LT BkFac           CARE BBB (CE)  1750
(Placed on credit watch with developing implications)
Sweta Estates Pvt Ltd                 LT BkFac           CARE BBB (CE)  3750
Placed on credit watch with developing implications
The Malayala Manorama Co. Ltd         LT BkFac           CARE AA;       2948.5  Reaffirmed
                                                         Stable
(reduced from 299.05 Crore)
Unity Fabtext Industries Pvt Ltd      LT Bk Fac          CARE D         94      Assigned
Women’S National Educational Society  LT Bk Fac          CARE B+; Stable50.5    Revised from
                                                                                CARE B; Stable
(Reduced from Rs.5.67 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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