December 4, 2018 / 6:29 AM / 8 days ago

CARE ratings for Indian debt instruments-Dec 4

    Dec 4 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 3, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Arihant Tiles And Marbles Pvt Ltd     ST Bk Fac          -              -       Withdrawn
Aadarsh Pvt Ltd                       ST Bk Fac          CARE A4+       35      Assigned
Arvind Fashions Ltd                   ST Bk Fac@         CARE A1+ (SO)  750     Reaffirmed
@ These facilities are proposed to be backed by the unconditional, irrevocable and continuing
corporate guarantee of Arvind Limited. These ratings shall be confirmed only upon the receipt of
deed of guarantee and other documents to the satisfaction of CARE Ratings Limited.
Arvind Fashions Ltd                   Proposed CP (CP)   CARE A1+ (SO)  1000    Reaffirmed
                                      issue (carved out)
                                      @
@ These facilities are proposed to be backed by the unconditional, irrevocable and continuing
corporate guarantee of Arvind Limited. These ratings shall be confirmed only upon the receipt of
deed of guarantee and other documents to the satisfaction of CARE Ratings Limited.
Arvind Fashions Ltd                   Proposed CP Issue  CARE A1+ (SO)  500     Reaffirmed
                                      (Standalone)@
@ These facilities are proposed to be backed by the unconditional, irrevocable and continuing
corporate guarantee of Arvind Limited. These ratings shall be confirmed only upon the receipt of
deed of guarantee and other documents to the satisfaction of CARE Ratings Limited.
Arvind Lifestyle Brands Ltd           ST BkFac#          CARE A1+ (SO)  2751.2  Reaffirmed
# these facilities/instruments are backed by the unconditional, irrevocable and continuing
corporate guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+).
Arvind Lifestyle Brands Ltd           Cpissue (Carved    CARE A1+ (SO)  1500    Reaffirmed
                                      Out) #
# these facilities/instruments are backed by the unconditional, irrevocable and continuing
corporate guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+).
Arvind Lifestyle Brands Ltd           Cpissue            CARE A1+ (SO)  1000    Reaffirmed
                                      (Standalone) #
# these facilities/instruments are backed by the unconditional, irrevocable and continuing
corporate guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+).
Arvind Ltd                            ST Bk Fac          CARE A1+       7410.1  Reaffirmed
Arvind Ltd                            CP (CP)            CARE A1+       1000    Reaffirmed
(Carved Out of sanctioned working capital limits)
Arvind Ltd                            CP (Standalone)    CARE A1+       6000    Reaffirmed
Eastern Bearings Pvt Ltd              ST Bk Fac          -              -       Withdrawn
Eastern Bearings Pvt Ltd              ST Bk Fac          -              -       Withdrawn
Energy Efficiency Services Ltd        ST Bk Fac          CARE A1+       10450   Reaffirmed
(enhanced from Rs. 510.00 crore)
Kalapurna Steel & Engineering Pvt Ltd ST Bk Fac          -              -       Withdrawn
Kapoor Imaging Pvt Ltd                ST Bk Fac - LOC    -              -       Withdrawn
                                      (State Bk of India)
Kapoor Imaging Pvt Ltd                ST Bk Fac - LOC/   -              -       Withdrawn
                                      BG (Standard
                                      Chartered Bk)
Kapoor Imaging Pvt Ltd                ST Bk Fac – LOC    CARE A4        60      -
                                      (Oriental Bk of
                                      Commerce)
(Issuer Not Cooperating)
Khaitan Chemicals And Fertilizers Ltd ST Bk Fac          CARE A3        1253.7  Reaffirmed
Lnsk Green House Agro Products Llp    ST Bk Fac          CARE A4+       10      Assigned
Jain Granimarmo Pvt Ltd               ST Bk Fac          -              -       Withdrawn
Miltech Industries Pvt Ltd            ST Bk Fac          -              -       Revised from
                                                                                CARE A4 to
                                                                                CARE D,
                                                                                withdrawn
Maithan Ispat Ltd                     ST Bk Fac          CARE D         1314.8  Revised from
                                                                                CARE A4
(Issuer Not Cooperating)
Premier Solvents Pvt Ltd              ST Bk Fac          CARE A4        30      Assigned
Quick Foods Company                   ST Bk Fac          CARE A4        4.5     Reaffirmed
S. S. Rice Mill                       ST Bk Facility     CARE A4        25      Assigned
Swastik Polytex Pvt Ltd               ST Bk Fac          -              -       Withdrawn
Sanrhea Technical Textile Ltd         ST Bk Fac          CARE A4        1.8     Reaffirmed
Sridhar Engineering And Rubber ProductST BkFac           CARE A4        17.5    -
Pvt Ltd
(Issuer Not Cooperating)
Sridhar Engineering And Rubber ProductST BkFac           CARE A4        15      -
Pvt Ltd
(Issuer Not Cooperating)
Sutlej Textiles And Industries Ltd    Non-Fund           CARE A1+       450     Reaffirmed
                                      Based-ST-LC/BG
Sutlej Textiles And Industries Ltd    CP                 CARE A1+       3000    Reaffirmed
The Malayala Manorama Co. Ltd         ST Bk Fac          CARE A1+       800     Reaffirmed
(reduced from 120.00 CR)
Topsun Energy Ltd                     ST BkFac           CARE A4+       7       Revised from
                                                                                CARE A3
(Issuer Not Cooperating)

LONG TERM RATINGS:
-------------------
Aadarsh Pvt Ltd                       LT Bk Fac          CARE BB+       70      Assigned
Aavishkaar Venture Management ServicesNCD                CARE BBB       2100    Assigned
Pvt Ltd
Al-Faheem Meatex Pvt Ltd              LT BkFac           CARE BB+       120     Revised from
                                                                                CARE BBB-
(Issuer Not Cooperating)
Al-Faheem Meatex Pvt Ltd              LT/ ST Bk Fac      CARE BB+/A4+   230     Revised from
                                                                                CARE BBB- /
                                                                                CARE A3
(Issuer Not Cooperating)
Amar Partap Steels Pvt Ltd            LT Bk Fac          CARE BB        192.5   Assigned
Arihant Tiles And Marbles Pvt Ltd     LT Bk Fac          -              -       Withdrawn
Arvind Fashions Ltd                   LT Bk Fac@         CARE AA (SO)   1200    Reaffirmed
(Reduced from Rs.175.00 crore)
@ These facilities are proposed to be backed by the unconditional, irrevocable and continuing
corporate guarantee of Arvind Limited. These ratings shall be confirmed only upon the receipt of
deed of guarantee and other documents to the satisfaction of CARE Ratings Limited.
Arvind Fashions Ltd                   LT/ ST Bk Fac#     CARE AA (SO)   1050    Reaffirmed
                                                         /CARE A1+ (SO)
(Enhanced from Rs.50.00 crore)
# these facilities/instruments are backed by the unconditional, irrevocable and continuing
corporate guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+).
Arvind Lifestyle Brands Ltd           NCDs*              -              -       Withdrawn
* CARE has withdrawn the rating assigned to the NCD issue of ALBL with immediate effect, as the
company has repaid the aforementioned NCD issue in full and there is no amount outstanding under
the issue as on date.
Arvind Lifestyle Brands Ltd           LT BkFac#          CARE AA (SO)   2977.3  Reaffirmed
# these facilities/instruments are backed by the unconditional, irrevocable and continuing
corporate guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+).
Arvind Lifestyle Brands Ltd           LT Bk Fac@         CARE AA (SO)   1500    Reaffirmed
# these facilities/instruments are backed by the unconditional, irrevocable and continuing
corporate guarantee of Arvind Limited (Arvind; rated CARE AA; Stable/CARE A1+).
Arvind Ltd                            LT Bk Fac          CARE AA        8320    Reaffirmed
Arvind Ltd                            NCD                CARE AA        2000    Reaffirmed
Arvind Ltd                            Long/ST BkFac      CARE AA/A1+    12230   Reaffirmed
Chengmari Tea Co. Ltd.                LT Bk FacST Bk Fac CARE BB /CARE  204.41  Revised from
                                                         A4                     CARE BB+
Cream Jewellery                       LT Bk Fac/ ST Bk   CARE BB-/A4    50      Reaffirmed
                                      Fac
Diatrends Jewellery Pvt Ltd           LT/ ST Bk Fac      CARE BBB-/A3   300     Reaffirmed
Eastern Bearings Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Eastern Bearings Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Energy Efficiency Services Ltd        NCD issue (NCD –I) CARE AA        5000    Reaffirmed
Energy Efficiency Services Ltd        NCD issue (NCD –   CARE AA        4500    Reaffirmed
                                      II)
Energy Efficiency Services Ltd        NCD issue (NCD –   CARE AA        5000    Reaffirmed
                                      III & IV)
Energy Efficiency Services Ltd        LT/ST BkFac        CARE AA/A1+    9550    Reaffirmed
                                      (Proposed)
(enhanced from Rs. 490.00 crore)
Euro Pratik Ispat Pvt Ltd             LT Bk Fac          CARE BB-       90      Reaffirmed
Exquisite Print And Pack Pvt Ltd      LT Bk Fac          CARE BB-       100     Assigned
Gera Developments Pvt Ltd             LT Bk Fac-II**     --             -       Withdrawn
**CARE has withdrawn the rating assigned to the Long term Bank Facilities-II with immediate
effect, as the company has fully repaid the said bank facilities and there is no amount
outstanding against the same as on date.
Gera Developments Pvt Ltd             LT Bk Fac-I        CARE A+        290     Reaffirmed
Gera Developments Pvt Ltd             NCD issue-Proposed CARE A+        1995    Assigned
Gera Developments Pvt Ltd             NCD issue          CARE A+        1505    Reaffirmed
(ISIN: INE965R07132)
Gera Developments Pvt Ltd             NCD issue          CARE A+        250     Reaffirmed
(ISIN no: INE965R07074)
Gera Developments Pvt Ltd             NCD issue          CARE A+        250     Reaffirmed
(ISIN no: INE965R07082)
Gera Developments Pvt Ltd             NCD issue          CARE A+        250     Reaffirmed
(ISIN no: INE965R07090)
Gera Developments Pvt Ltd             NCD issue          CARE A+        250     Reaffirmed
(ISIN no: INE965R07108)
Gera Developments Pvt Ltd             NCD issue          CARE A+        250     Reaffirmed
(ISIN no: INE965R07116)
Gera Developments Pvt Ltd             NCD issue          CARE A+        200     Reaffirmed
(ISIN no: INE965R07124)
Gera Developments Pvt Ltd             NCD issue-Proposed CARE A+        150     Reaffirmed
Ishwarlal Harjivandas Jewellers Pvt   LT BkFac           CARE BB        300     Reaffirmed
Ltd
Jain Granimarmo Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Jaora Nayagaon Toll Road Company Pvt  LT BkFac           CARE AA-       4382.1  Revised from
LTD                                                                             CARE A+
Jr Toll Road Pvt Ltd                  FB Fac (LT)^       CARE B (SO)    3890    -
^Backed by unconditional and irrevocable corporate guarantee of Reliance Infrastructure Limited
(R-Infra),Removed from Credit Watch with Developing Implications and assigned Stable Outlook.
Kakum Enterprise                      LT Bk Fac          CARE BB        150     Reaffirmed
Kakum Enterprise                      LT Bk Fac          CARE BB        150     Reaffirmed
Kalapurna Steel & Engineering Pvt Ltd LT Bk Fac          -              -       Withdrawn
Kamal And Company                     LT Bk Fac          CARE BB-       65      Reaffirmed
Kapoor Imaging Pvt Ltd                LT Bk Fac – TL     -              -       Withdrawn
                                      (Oriental Bk of
                                      Commerce)
Kapoor Imaging Pvt Ltd                LT Bk Fac – TL     -              -       Withdrawn
                                      (Proposed)
Kapoor Imaging Pvt Ltd                LT Bk Fac – CC     -              -       Withdrawn
                                      (State Bk of India)
Kapoor Imaging Pvt Ltd                LT Bk Fac - CC     -              -       Withdrawn
                                      (Standard
                                      Chartered Bk)
Kapoor Imaging Pvt Ltd                LT Bk Fac – CC     CARE BB        30      -
                                      (Oriental Bk of
                                      Commerce)
(Issuer Not Cooperating)
Khaitan Chemicals And Fertilizers Ltd LT Bk Fac          CARE BBB-      1642.4  Reaffirmed
Kuber Paper & Pack                    LT Bk Fac          CARE B+        159.9   Assigned
Lnsk Green House Agro Products Llp    LT Bk Fac          CARE BB+       260     Assigned
Lnsk Green House Agro Products Llp    LT/ST Bk Fac       CARE BB+/A4+   20      Assigned
Madhav Tex Spin Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Madhav Tex Spin Pvt Ltd               LT/ Short- Term Bk -              -       Withdrawn
                                      Fac
Maithan Ispat Ltd                     LT Bk Fac          CARE D         5763.7  Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Manisha Creations                     LT Bk Fac          CARE BB        140     Assigned
Marigold Allied Corporation           LT Bk Fac          CARE BB-       51.5    Assigned
Miltech Industries Pvt Ltd            LT Bk Fac          -              -       Revised from
                                                                                CARE B+ to
                                                                                CARE D,withdrawn
Monnet Ispat And Energy Ltd           LT Bk Fac (TL)     CARE A-        26000   Assigned
Monnet Ispat And Energy Ltd           LT Bk Fac (Fund    CARE A-        4000    -
                                      Based-CC)
Monnet Ispat And Energy Ltd           LT/ST BkFac (Non   CARE A-/A2+    5000    -
                                      fund
                                      based-BkGuarantee)
Navayuga Udupi Tollway Pvt Ltd        LT BkFac           CARE BB+       6111.8  Reaffirmed
Png Brothers (Earlier Known As Png    LT Bk Fac          CARE BBB       641.3   Reaffirmed
Jewellery & Gems)
Png Brothers (Earlier Known As Png    Long- term/ ST Bk  CARE BBB/A3+   600     Reaffirmed
Jewellery & Gems)                     Fac
Premier Solvents Pvt Ltd              LT Bk Fac          CARE B+        60      Assigned
Quick Foods Company                   LT/ ST Bk Fac      CARE BB-/A4    80      Reaffirmed
S. S. Rice Mill                       LT Bk Facility     CARE B         52      Assigned
Sanrhea Technical Textile Ltd         LT/ST Bk Fac       CARE B+/A4     83      Reaffirmed
Sarla Exports Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Shree Balkrishna Exports              LT Bk Fac          CARE BB+       205     Reaffirmed
Sri Pushpavathi Agro-Tech Pvt Ltd     LT Bk Fac          CARE B+        90      Assigned
Sri Srinivas Industries               LT Bk Fac          CARE B+        110     Assigned
Sridhar Engineering And Rubber ProductLT BkFac           CARE B+        50      Revised from
Pvt Ltd                                                                         CARE BB-
(Issuer Not Cooperating)
Sutlej Textiles And Industries Ltd    Fund Based-LT-TL   CARE A+        7395    Revised from
                                                                                CARE AA-
Sutlej Textiles And Industries Ltd    Fund Based-        CARE A+/A1+    6000    Revised from
                                      LT/ST-CC/ EPC/PCFC                        CARE AA-
Swastik Polytex Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Swathi Rice Mill Company Pvt Ltd      LT Bk Fac          CARE B+        50.5    Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
The Malayala Manorama Co. Ltd         LT Bk Fac          CARE AA        2990.5  Reaffirmed
(reduced from 330.69 CR)
Topsun Energy Ltd                     LT BkFac           CARE BB+       859     Revised from
                                                                                CARE BBB-
(Issuer Not Cooperating)
Vinayak International                 LT Bk Fac          CARE BB        200     -
(Issuer Not Cooperating)
Zuari Infraworld India Ltd            LT Bk Fac - Stand  -              -       Withdrawn
                                      by LOC
--------------------------------------------------------------------------------------------
$: 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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