December 6, 2018 / 7:44 AM / 3 months ago

CARE ratings for Indian debt instruments-Dec 6

    Dec 6 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 5, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Amarnath Aggarwal Constructions Pvt   ST Bk Fac          CARE A4        100     Reaffirmed
Ltd 
Anmol (India) Ltd                     ST Bk Fac          CARE A4+       70      Reaffirmed
Bharath International Travels (Mysore)ST Bk Fac          CARE A4        10      Reaffirmed
Pvt Ltd
Emcure Pharmaceuticals Ltd            ST Bk Fac          CARE A1        980     Reaffirmed
                                      (Non-Fund based)
(Reduced from 148.00 Croress)
Fitech Equipments (India) Pvt Ltd     ST BkFac           CARE A4+       90      Reaffirmed
G.B. Springs Pvt Ltd                  ST Bk Fac          CARE A3        60      Assigned
Ganpati Foods                         ST Bk Fac          CARE A4        160     Reaffirmed
(increased from 13 Croress)
Gee Gee Agrotech                      ST Bk Fac          CARE A4        5
(Issuer Not Cooperating)
Golite Footwear                       ST Bk Fac          -              -       Withdrawn
Housing Development Finance CorporatioST Bk Fac          CARE A1+       382936.7Reaffirmed
Ltd
(enhanced from 35,626.46 Croress)
Kmv Projects Ltd                      ST Bk Fac          -              -       Withdrawn
Kovai Medical Center And Hospital Ltd ST Bk Fac          CARE A1+       300     Reaffirmed
(enhanced from 13.00 Croress)
Northern Arc 2018 Gl Cronus           Series A PTC #     ProvCARE A1+   -
(Originator: Unimoni Financial Services                  (SO)
Ltd)
# Series A PTCs are rated on Ultimate Payment basis
Partap Fabrics Pvt Ltd                ST Bk Fac          CARE A4+       18      Revised from
                                                                                CARE A3+
(Issuer Not Cooperating)
Power Finance Corporation Ltd         ST Borrowing       CARE A1+       70000   Reaffirmed
                                      Programme for FY-19
(enhanced from 5,000.00 Croress)
Power Finance Corporation Ltd         CP Issue for FY19  CARE A1+       130000  Reaffirmed
(enhanced from 9,000.00 Croress)
Red Cow Dairy Pvt Ltd                 ST Bk Fac          CARE A3        5       Reaffirmed
Rayen Steels Pvt Ltd                  ST Bk Fac          -              -       Withdrawn#
# the rating assigned to the short-term bank facilities has been withdrawn since the company has
fully repaid the said facility and there is no amount outstanding under the facilitiy. 
Rockland Ceramic Llp                  ST Bk Fac          CARE D         15.2    Reaffirmed
Saluja Steel & Power Pvt. Ltd         ST Bk Fac          CARE A3        226     Assigned
Sar Denim Pvt Ltd                     ST Bk Fac          -              -       Withdrawn
Shivalik India Alco Pvt Ltd           ST BkFac           CARE A4        15      Revised from
                                                                                CARE A4+
(Issuer Not Cooperating)
Shree Raghukul Texprints Pvt Ltd      ST Bk Fac          -              -       Withdrawn
Sri Ganapathy Enterprises             ST Bk Fac          CARE A4        7.5     Assigned
Trident Ltd                           ST Bk Fac          CARE A1+       2000    Reaffirmed
(reduced from 300.00 Croress)
Unifab Engineering Project Pvt Ltd    ST Bk Fac          CARE A4        40
(Issuer Not Cooperating)/[Enhanced from Rs.2.50 Croress]
Vasuki Trade Link Pvt Ltd             ST Bk Fac          CARE A4        245     Reaffirmed
Winsome Textile Industries Ltd        ST Bk Fac          CARE A3        2776    Reaffirmed
Zuventus Healthcare Ltd               ST Bk Fac          CARE A1        150     Reaffirmed
(enhanced from 10.00 Croress)

LONG TERM RATINGS:
-------------------
Adani Bunkering Pvt Ltd               LT / ST Bk Fac     CARE BBB+/A2   4500    Reaffirmed
Anaven Llp                            Long – Term Bk Fac CARE A         1000    Assigned
Anmol (India) Ltd                     LT Bk Fac          CARE BB+       230     Reaffirmed
Asps Developers Llp                   LT Bk Fac          CARE A+ (SO)   500     Reaffirmed
Atria Power Corporation Pvt Ltd       LT Bk Fac          CARE BBB+      102.5   Reaffirmed
(Reduced from 15.00 Croress)
Bharat Sanchar Nigam Ltd              LT Bk Fac          CARE AAA (SO)  200000  Reaffirmed
Bharath International Travels (Mysore)LT Bk Fac          CARE BB-       43.5    Reaffirmed
Pvt Ltd
Dakshin Budhakhali Improvement SocietyLT Bk Fac          CARE BB        141.1
(Issuer Not Cooperating)
Diya Hygiene Flours Pvt Ltd           LT Bk Fac          CARE BB        50      Reaffirmed
Emcure Pharmaceuticals Ltd            LT Bk Fac (Non     -              -       Withdrawn
                                      Fund Based)
(reduced from 20.20 Croress)
Emcure Pharmaceuticals Ltd            LT Bk Fac          CARE A+        10529   Reaffirmed
(enhanced from 988.62 Croress)
Emcure Pharmaceuticals Ltd            LT / ST Bk Fac     CARE A+/A1     5860    Reaffirmed
                                      (Fund based)
(Enhanced from 536.00 Croress)
Esvee Enterprises                     LT Bk Fac          CARE B+        150     Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Fitech Equipments (India) Pvt Ltd     LT BkFac           CARE BB+       15      Reaffirmed
Fitech Equipments (India) Pvt Ltd     Proposed           CARE BB+/A4+   35      Assigned
                                      Long/Shortterm Bk
                                      Fac
G.B. Springs Pvt Ltd                  LT Bk Fac          CARE BBB-      100     Assigned
Gac Shipping (India) Pvt Ltd          LT Bk Fac          CARE BBB+      270     Reaffirmed
(enhanced from Rs.17.00 Croress)
Ganpati Foods                         LT Bk Fac          CARE BB-       140     Reaffirmed
(reduced from 16 Croress)
Gee Emm Overseas                      LT Bk Fac          CARE B+        92.5    Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Gee Gee Agrotech                      LT Bk Fac          CARE B+        110     Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Golite Footwear                       Long –term Bk Fac  -              -       Withdrawn
Growthpath Solutions Pvt Ltd          LT Bk Fac          CARE B+        60      Revised from
                                                                                CARE B
Haryana Petrochem                     LT Bk Fac          CARE BB-       76      Assigned
Housing Development Finance CorporatioLT Bk Fac          CARE AAA       15150   Reaffirmed
Ltd
(reduced from 1,857.88 Croress)
Indian Machine Tool Manufacturers’    LT Bk Fac          CARE BBB+      1652.1  Reaffirmed
Association
Jagraon Agri Services Pvt Ltd         LT Bk Fac          CARE BBB+ (SO) 102.5   Reaffirmed
Jind Agri Services Pvt Ltd            LT Bk Fac- TL      CARE BBB+ (SO) 400     Reaffirmed
Jind Agri Services Pvt Ltd            LT Bk Fac- LT Bang CARE BBB+ (SO) 25      Reaffirmed
                                      Guarantees
Khanna Agri Services Pvt Ltd          LT Bk Fac          CARE BBB+ (SO) 102.5   Reaffirmed
Kmv Projects Ltd                      LT Bk Fac          CARE A         3562.5  Reaffirmed
Kmv Projects Ltd                      LT/ST BkFac        CARE A/A2+     12400   Reaffirmed
Kmv Spaces Llp                        LT Bk Fac@         CARE A-(SO)    162.5   Revised from
                                                                                CARE BBB+(SO)
(reduced from Rs.25 Croress)/@backed by Letter of Comfort provided by KMV Projects Limited
(revised to CARE A; Stable/CARE A2+ from CARE A-; Positive/CARE A2) 
Kovai Medical Center And Hospital Ltd LT Bk Fac          CARE A+        6649.8  Reaffirmed
(enhanced from 110.63 Croress)
Laxmi Goldorna House Ltd              LT Bk Fac          CARE BB        100     Reaffirmed
Mallaiah And Sons Edible Oils Pvt Ltd LT Bk Fac          CARE B         104.3   Reaffirmed
(reduced from 10.75 Crores)
Margdarshee Hospitality And Retails PvLT BkFac           CARE B+        67.8    Assigned
Ltd
Micro International                   LT Bk Fac          CARE B+        82.8    Reaffirmed
(reduced from 8.95 Crores)
Mitcon Solar Alliance Ltd             LT Bk Fac          CARE BB        150     Assigned
Nufab Technical Textiles Pvt Ltd      LT Bk Fac          CARE BB-       58
(Issuer Not Cooperating)
Opulent Hospitality India Pvt Ltd     LT Bk Fac          -              -       Withdrawn
Partap Fabrics Pvt Ltd                LT Bk Fac          CARE BB+       505     Revised from
                                                                                CARE BBB
(Issuer Not Cooperating)
Phoenix Projects Pvt Ltd              LT Bk Fac          CARE BBB-      60      Reaffirmed
(reduced from Rs. 8.00 Crores Crores)
Phoenix Projects Pvt Ltd              LT / ST Bk Fac     CARE BBB-/A3   490     Reaffirmed
(enhanced from Rs. 47 Crores Crores)
Power Finance Corporation Ltd         LT Borrowing       CARE AAA       620000  Reaffirmed ]
                                      Programme for FY-19
(enhanced from 43,000.00 Crores)
Protrans Supply Chain Management Pvt LLT/ST BkFac        CARE A-        50      Reaffirmed
                                                         (SO)/A2+(SO)
Protrans Supply Chain Management Pvt LLT Bk Fac          CARE A- (SO)@  33      Reaffirmed
(reduced from 5.14 Crores)/@ The above ratings are based on the credit enhancement in the form
of an unconditional and irrevocable corporate guarantee provided by Baramati Agro Limited (BAL)
for the bank facilities of Protrans Supply Chain Management Private Limited (PSCMPL) 
R.P. Industries - Ludhiana            LT Bk Fac          CARE B+        55      Assigned
Rajatdeep Overseas Pvt Ltd            LT/ ST Bk Fac      CARE BB+/A4+   50      Assigned
Raunaq Construction                   LT Bk Fac          CARE BB-       220     Assigned
Rayen Steels Pvt Ltd                  LT Bk Fac          CARE BB-       120     Revised from
                                                                                CARE B
Red Cow Dairy Pvt Ltd                 LT Bk Fac          CARE BBB-      227.9   Reaffirmed
(Enhanced from 19.50 Crores)
Rockland Ceramic Llp                  Long- term Bk Fac  CARE D         148.1   Reaffirmed
(reduced from 16.37 Crores)
Rvr Farms                             LT Bk Fac          CARE B+        159.2   Assigned
Rvv Hatcheries                        LT Bk Fac          CARE BB-       73.3    Assigned
Sagar Autotech (Jabalpur) Pvt Ltd     LT Bk Fac          CARE B+        61      Assigned
Saluja Steel & Power Pvt. Ltd         LT Bk Fac          CARE BBB-      404     Assigned
Sar Denim Pvt Ltd                     LT Bk Fac          -              -       Withdrawn
Shivalik India Alco Pvt Ltd           LT BkFac           CARE BB        100     Revised from
                                                                                CARE BB+
(Issuer Not Cooperating)
Shree Lalita                          LT Bk Fac          CARE BB+       35      Reaffirmed
Shree Lalita                          LT Bk Fac/ ST Bk   CARE BB+/A4+   40      Reaffirmed
                                      Fac
Shree Raghukul Texprints Pvt Ltd      LT Bk Fac          -              -       Withdrawn
Shree Raghukul Texprints Pvt Ltd      LT/ST Bk Fac       -              -       Withdrawn
Shree Ranisati Processors Pvt Ltd     LT Bk Fac          -              -       Withdrawn
Shree Ranisati Processors Pvt Ltd     LT/ST Bk Fac       -              -       Withdrawn
Siddhivinayak Trailers                LT Bk Fac          CARE B         50
(Issuer Not Cooperating)
Sona Hi Sona Jewellers(Gujarat) Ltd   LT Bk Fac          CARE BB-       130     Reaffirmed
(enhanced from 11.50 Crores)
Sri Ganapathy Enterprises             LT Bk Fac          CARE BB        152.5   Assigned
Stamlo Industries Ltd (Erstwhile StamlLT Bk Fac – Over   CARE A-        40      Reaffirmed
Hotels Ltd)                           draft
Stamlo Industries Ltd (Erstwhile StamlLT /ST Bk Fac      CARE A-/A2+    85      Reaffirmed
Hotels Ltd)
Sun Direct Tv Pvt Ltd                 LT Bk Fac          CARE BBB+      7756.1  Reaffirmed
(reduced from 840.34 Crores)
Translite Energy Ltd                  LT Bk Fac          CARE BB+       135     Revised from
                                                                                CARE BB
Translite Energy Ltd                  LT/ST BkFac        CARE BB+/A4+   210     Revised from
                                                                                CARE BB /
                                                                                CARE A4+
Trident Ltd                           LT Bk Fac          CARE AA-       15646.3 Reaffirmed
(reduced from 1,764.63 Crores)
Trident Ltd                           LT/ ST BkFac       CARE AA-/A1+   15000   Reaffirmed
(enhanced from 1,200.00 Crores)
Tristar Lifesciences Pvt Ltd          LT BkFac           CARE BB+       346     Revised from
                                                                                CARE BBB-
(Issuer Not Cooperating)
Unifab Engineering Project Pvt Ltd    LT Bk Fac          CARE BB        25.6    Revised from
                                                                                CARE BB
(Issuer Not Cooperating)/[Enhanced from Rs.0.50 Crores]
Unifab Engineering Project Pvt Ltd    LT/ ST Bk Fac      CARE BB/A4     20      Revised from
                                                                                CARE BB /
                                                                                CARE A4
(Issuer Not Cooperating)/[Enhanced from Rs.1.50 Crores]
Vasuki Trade Link Pvt Ltd             LT Bk Fac          CARE BB-       5       Reaffirmed
Veera Associates                      LT Bk Fac          CARE BB        70      Revised and
                                                                                Removed from
                                                                                CARE B+
(Issuer Not Cooperating)
Veera Associates                      LT/ST BkFac        CARE BB/A4     55      Revised and
                                                                                Removed from
                                                                                CARE B+/CARE A4
(Issuer Not Cooperating)
Venus Multiplex                       LT Bk Fac          CARE B         150     Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Vision Roofings                       LT Bk Fac          CARE B+        46.2    Revised from
                                                                                CARE BB-
(reduced from 5.20 Crores)
Wellbore Engineering Company          LT Bk Fac          -              -       Withdrawn
Winsome Textile Industries Ltd        LT Bk Fac          CARE BBB-      1808.7  Reaffirmed
(reduced from 224.80 Crores)
Zen Tobacco Pvt Ltd                   LT Bk Fac          CARE B+        55      Reaffirmed
Zuventus Healthcare Ltd               LT Bk Fac          CARE A+        860.4   Reaffirmed
(reduced from 90.00 Crores)
Zuventus Healthcare Ltd               LT / ST BkFac      CARE A+/A1     600     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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