Feb 11 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 8, 2019.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------- ---------- ------ ------- ---------
SHORT TERM RATINGS:
-------------------
Adarsh Noble Corporation Ltd ST Bk Fac CARE D 37.5 -
(Issuer Not Cooperating)
Archit Plywood Pvt Ltd ST BkFac CARE A4 40 -
(Issuer Not Cooperating)
Basanti Mata Agri Product Pvt Ltd ST Bk Fac CARE A4 1.8 -
(Issuer Not Cooperating)
Captronic Systems Pvt Ltd ST Bk Fac CARE A4 95 Assigned
Citizencredit Co-Operative Bank Ltd ST Bk Fac CARE A3+ 60 Assigned
Dish Tv India Ltd ST BkFac (LOC/BG) CARE A1 1900 Rating
revised from
A1+
Rating placed on credit watch with negative implications
Dish Tv India Ltd ST BkFac (TL) CARE A1 2500 Rating
revised from
A1+
Rating placed on credit watch with negative implications
Eps Instrumentation Pvt Ltd ST BkFac CARE A4 90 -
(Issuer Not Cooperating)
Essel Infraprojects Ltd ST BkFac CARE A4 1460 Revised from
CARE A3
Gn Pal & Associates ST Bk Fac CARE A4 40 -
(Issuer Not Cooperating)
Green Facade Solutions Pvt Ltd ST Bk Fac CARE A4 75 -
(Issuer Not Cooperating)
Jai Bharat Rice Mills ST BkFac CARE A4 2 -
(Issuer Not Cooperating)
Jai Shiv Food Products Pvt Ltd ST Bk Fac CARE A4 405 Reaffirmed
(enhanced from 15.50 Crore)
Jindal Steel & Power Ltd ST Bk Fac CARE A3 61821.8 Reaffirmed
(reduced from 6,824.81 Crore)
K.P.R. Sugar Mill Ltd (iv) ST BkFac*^ - - Withdrawn
*backed by credit enhancement in the form of unconditional and irrevocable corporate guarantee
from K.P.R Mill Limited (KPR, rated ‘CARE AA; Stable’, ‘CARE A1+’) ^CARE has withdrawn the
rating for short-term bank facilties (both standalone and guaranteed) with immediate effect, as
the company has fully repaid the amount under the said facility and there is no amount
outstanding under the facility as on date
Kaytx Industries Pvt Ltd ST Bk Fac CARE D 150 Revised from
CARE A4
Kalinga Agro Foods ST BkFac CARE A4 30 -
(Issuer Not Cooperating)
K.P.R. Sugar Mill Ltd (iii) ST BkFac^ - - Withdrawn
^CARE has withdrawn the rating for short-term bank facilties (both standalone and guaranteed)
with immediate effect, as the company has fully repaid the amount under the said facility and
there is no amount outstanding under the facility as on date.
Kshitij Kumar Choudhary ST BkFac CARE A4 130 Reaffirmed
Lakhpat Trading And Industrys Pvt Ltd ST Bk Fac CARE A4+ 285 Assigned
Maa Uttar Bahini Agro Industries Pvt. ST BkFac CARE A4 2.8 -
Ltd
(Issuer Not Cooperating)
Markwell International ST Bk Fac CARE A4 50 Assigned
Mahavir Foods ST Bk Fac CARE D 150 -
(Issuer Not Cooperating)
Mohurgong And Gulma Tea Estates ST Bk Fac CARE A4 5 -
Nalli Chinnasami Chetty ST Bk Fac CARE A2 90 Reaffirmed
Neumann Components Pvt Ltd ST BkFac CARE A4 50.9 -
(Issuer Not Cooperating)
Paras Bhavani Steel Pvt Ltd ST Bk Fac CARE A4 220 Assigned
Panchshil Infrastructure Holdings Pvt ST Bk Fac - - Withdrawn
Ltd
Pushp Enterprises ST Bk Fac CARE A4 40 Reaffirmed
R. K. Overseas ST BkFac^ CARE A3 (SO) 220 Reaffirmed
^backed by unconditional and irrevocable corporate guarantee provided by Amir Chand Jagdish
Kumar (Exports) Ltd (ACJK).
Ryatar Sahakari Sakkare Karkhane NiyamST Bk Fac CARE A4 200 Reaffirmed
Sidhi Vinayak Rice Mills ST Bk Fac CARE D 180 -
(Issuer Not Cooperating)
Sai Overseas ST BkFac CARE A4 40 -
(Issuer Not Cooperating)
Seema Construction Company ST Bk Fac CARE A4 400 -
(Issuer Not Cooperating)
Siddhartha Engineering Ltd ST Bk Fac CARE A4+ 150 -
(Issuer Not Cooperating)
Skg Timbers Pvt Ltd ST BkFac CARE A4 180 -
(Issuer Not Cooperating)
Sukhbir Agro Energy Ltd ST BkFac (Fund CARE A2 2000 Reaffirmed
Based)
Tesla Transmission Control ST Bk Fac CARE A4 38 Assigned
The Climate Makers (Sales) ST Bk Fac CARE A4 70 -
(Issuer Not Cooperating)
Trimax It Infrastructure And Services ST Bk Fac CARE D 6502.8 -
Ltd
(Issuer Not Cooperating)
Tigris International (Formerly Dp ST Bk Fac^ CARE A3 (SO) 103 Reaffirmed
Enterprises)
^backed by unconditional and irrevocable corporate guarantee provided by Amir Chand Jagdish
Kumar (Exports) Ltd (ACJK).
Universal Biomass Energy Pvt Ltd ST Bk Fac (Non CARE A3 5 Reaffirmed
Fund Based)
Vijay Construction ST Bk Fac - - Withdrawn
Vibhor Steel Tubes Pvt Ltd ST Bk Fac CARE A3 946 Assigned
Zee Entertainment Enterprises Ltd ST BkFac CARE A1+ 800 Revised from
CARE A1+
Zee Media Corporation Ltd ST Bk Fac – BG CARE A1 380 -
Rating placed on credit watch with negative implications
Zigma Global Environ Solutions Pvt LtdST Bk Fac CARE A3 569.6 Assigned
LONG TERM RATINGS:
-------------------
Aameya Polymers Llp LT Bk Fac CARE BB- 44.7 Assigned
Aameya Polymers Llp LT/ST BkFac CARE BB-/A4 100 Assigned
Abhilasha Ispat Udyog LT Bk Fac CARE BB 80 -
(Issuer Not Cooperating)
Adarsh Noble Corporation Ltd LT Bk Fac CARE D 212.5 -
(Issuer Not Cooperating)
Aditya Auto Industries LT Bk Fac CARE B+ 88 -
(Issuer Not Cooperating)
Ananth Solar Power Maharashtra Pvt LtdLT Bk Fac - - Withdrawn
(Proposed TL)
Angel Feeds LT BkFac CARE B 65.1 -
(Issuer Not Cooperating)
Arasu Jewels LT Bk Fac CARE B 70 Assigned
Archit Plywood Pvt Ltd LT BkFac CARE B+ 42.5 -
(Issuer Not Cooperating)
Athens Life Sciences LT Bk Fac CARE B+ 80.8 Assigned
Bagori Polymers Pvt Ltd LT Bk Fac CARE BB- 143.5 -
(Issuer Not Cooperating)
Barani Hydraulics India Pvt Ltd LT Bk FacST Bk Fac CARE BB /CARE - Assigned
A4 Assigned
Basanti Mata Agri Product Pvt Ltd LT Bk Fac CARE B+ 134.4 -
(Issuer Not Cooperating)
Bhamra Agro Industries Pvt Ltd LT Bk Fac CARE B+ 72 -
(Issuer Not Cooperating)
Brijraj Motors Pvt Ltd LT Bk Fac CARE BB 187.5 -
(Issuer Not Cooperating)
Captronic Systems Pvt Ltd LT Bk Fac CARE B 68.9 Assigned
Citizencredit Co-Operative Bank Ltd LT Bk Fac CARE BBB- 140 Assigned
Citizencredit Co-Operative Bank Ltd LT/ST BkFac CARE BBB-/A3+ 50 Assigned
(Proposed)
Dish Infra Services Pvt. Ltd. Fund based Bk Fac CARE A (SO) 400 Revised from
(CC) CARE A+
Rating placed on credit watch with negative implications
Dish Infra Services Pvt. Ltd. Long - term Bk CARE A (SO) 19236.8 Revised from
Fac (TL ) CARE A+
Rating placed on credit watch with negative implications
Dish Infra Services Pvt. Ltd. LT/ST CARE A 24038.5 Revised from
Fundbased/Non-fund (SO)/A1(SO) CARE
based BkFac A+/CAREA1+
Rating placed on credit watch with negative implications
Dish Infra Services Pvt. Ltd. Long - term/Short- CARE A 1000 Revised
term (SO)/A1(SO) fromCARE
BkFac(Non-fund based ) A+/CARE A1+
Rating placed on credit watch with negative implications
Emaar Mgf Land Ltd Non- Convertible CARE BB 22600 -
Debenture Issue
Rating placed under credit watch with negative implications
Eps Instrumentation Pvt Ltd LT BkFac CARE B+ 15 -
(Issuer Not Cooperating)
Fast Track Cfs Pvt Ltd LT Bk Fac CARE B 130 -
(Issuer Not Cooperating)
Gn Pal & Associates LT Bk Fac CARE B+ 90 -
(Issuer Not Cooperating)
Green Facade Solutions Pvt Ltd LT Bk Fac CARE B+ 15 -
(Issuer Not Cooperating)
Gujarat Road And Infrastructure Co. NCD issue CARE AAA (SO) - -
Ltd
Placed under Credit watch with developing implications
Hindusthan Speciality Chemicals Ltd LT Bk Fac - - Withdrawn
Hindusthan Urban Infrastructure Ltd LT Bk Fac - - Withdrawn
Hindusthan Urban Infrastructure Ltd LT/ ST Fac - - Withdrawn
Ifmr Fimpact Investment Fund IFMR FImpact CARE AA - Reaffirmed
Investment Fund
Jai Bharat Rice Mills LT BkFac CARE B+ 165.5 -
(Issuer Not Cooperating)
Jai Bharat Rice Mills LT/ ST BkFac CARE B+/A4 60 -
(Issuer Not Cooperating)
Jai Shiv Food Products Pvt Ltd LT Bk Fac CARE BB- 105.1 Revised from
CARE B+
(reduced from 11.27 Crore)
Jindal Steel & Power Ltd NCDs Programme-II - - Withdrawn
Jindal Steel & Power Ltd LT Bk Fac CARE BBB 15000 Reaffirmed
(Priority TL)
Jindal Steel & Power Ltd LT Bk Fac CARE BBB- 173196 Reaffirmed
(reduced from 17,995.68 Crore)
Jindal Steel & Power Ltd NCDs Programme-I CARE BBB- 5000 Reaffirmed
Jindal Steel & Power Ltd NCDs Programme-III CARE BBB- 8000 Reaffirmed
Jindal Steel & Power Ltd NCDs Programme-IV CARE BBB- 1000 Reaffirmed
Jindal Steel & Power Ltd NCDs Programme-V CARE BBB- 372 Reaffirmed
(reduced from 699.60 Crore)
Jindal Steel & Power Ltd NCDs Programme-VI CARE BBB- 4000 Reaffirmed
K.P.R. Sugar Mill Ltd (i) LT Bk Fac CARE A 1500 Reaffirmed
K.P.R. Sugar Mill Ltd (ii) LT Bk Fac* CARE AA (SO) 520.2 Reaffirmed
*backed by credit enhancement in the form of unconditional and irrevocable corporate guarantee
from K.P.R Mill Limited (KPR, rated CARE AA; Stable , CARE A1 )
Kalinga Agro Foods LT BkFac CARE B 31 -
(Issuer Not Cooperating)
Kalyan Vaijinathrao Kale LT Bk Fac CARE B+ 37.3 Reaffirmed
Kaytx Industries Pvt Ltd LT Bk Fac CARE D 400 Revised from
CARE BB
Kirloskar Chillers Pvt Ltd LT Bk FacST Bk Fac CARE A /CARE A1280 Reaffirmed
Kshitij Kumar Choudhary LT BkFac CARE BB 20 Revised from
CARE BB-
Lakhpat Trading And Industrys Pvt Ltd LT Bk Fac CARE BB 50 Assigned
Laxmi Board And Paper Mills Pvt Ltd LT Bk Fac – TL - - Withdrawn*
Laxmi Board And Paper Mills Pvt Ltd LT Bk Fac CARE BBB+ 370 Reaffirmed
Lc Infra Projects Pvt Ltd LT Bk Fac - Fund CARE BBB+ 100 Assigned
Based
Lc Infra Projects Pvt Ltd LT/ST Bk Fac - Non CARE BBB+/A3+ 400 Assigned
Fund Based
Maa Uttar Bahini Agro Industries Pvt. LT BkFac CARE B 34.6 -
Ltd
(Issuer Not Cooperating)
Mahavir Foods LT Bk Fac CARE D 70 -
(Issuer Not Cooperating)
Markwell International LT Bk Fac CARE BB 30 Assigned
Markwell International LT/ ST Fac CARE BB/A4 70 Assigned
Mawana Sugars Ltd Fund Based – LT/ST CARE BB/A4 250 Assigned
–Working Capital
Limit
Mohurgong And Gulma Tea Estates LT Bk Fac CARE BB- 145 Assigned
Mumbai Waste Management Ltd LT Bk Fac CARE BBB+ 780.6 -
Placed on Credit watch with developing implications
Mumbai Waste Management Ltd Long/ST BkFac CARE BBB+/A3+ 25 -
Placed on Credit watch with developing implications
Nalli Chinnasami Chetty LT Bk Fac CARE BBB+ 25.3 Reaffirmed
(enhanced from Rs.1.61 crore Crore)
Navayuga Dhola Infra Projects Ltd LT Bk Fac CARE BBB+ 4386.6 Reaffirmed
(reduced from Rs.461.46 crore Crore)
Neumann Components Pvt Ltd LT BkFac CARE BB 237.8 -
(Issuer Not Cooperating)
Nirmal Spinning Mills Pvt Ltd LT Bk Fac - - Withdrawn
Panacea Biotec Ltd LT Bk Fac CARE D 9595.5 Reaffirmed
Panchshil Infrastructure Holdings Pvt LT Bk Fac - - Withdrawn
Ltd
Paradise Properties LT Bk Fac CARE D/D 256 -
(Issuer Not Cooperating)
Paras Bhavani Steel Pvt Ltd LT Bk Fac CARE BB 502.4 Assigned
Prabhu Sponge Pvt Ltd LT BkFac CARE B- 90 -
(Issuer Not Cooperating)
Pushp Enterprises LT Bk Fac CARE BB 50 Reaffirmed
Raghav Industries LT Bk Fac - - Withdrawn
Reach Dredging Ltd LT Bk Fac CARE BBB 279.7 Reaffirmed
Reach Dredging Ltd Long/ST BkFac CARE BBB/A3+ 100 Reaffirmed
Ryatar Sahakari Sakkare Karkhane NiyamLT Bk Fac CARE B- 550 Reaffirmed
Sagar Steel Processing And LT Bk Fac CARE BBB- 230 -
Manufacturing Unit
(Issuer Not Cooperating)
Sai Overseas LT BkFac CARE B- 106 -
(Issuer Not Cooperating)
Sameer Construction Company LT Bk Fac CARE B+ 30 -
(Issuer Not Cooperating)
Sameer Construction Company LT / ST Bk Fac CARE B+/A4 30 -
(Issuer Not Cooperating)
Seema Construction Company LT Bk Fac CARE BB 95 -
(Issuer Not Cooperating)
Shiva Corporation (India) Ltd LT Bk Fac CARE BBB- 150 Reaffirmed
(enhanced from 10 Crore)
Shiva Corporation (India) Ltd LT / ST Bk Fac CARE BBB-/A3 350 Reaffirmed
(enhanced from 17 Crore)
Shri Krishan Kripa Rice Mill LT Bk Fac CARE B+ 120 -
(Issuer Not Cooperating)
Shri Markanda Steel Rolling Mills LT Bk Fac CARE B 50 Assigned
Shriram Navinkumar And Sons Ispat Pvt LT Bk Fac CARE BB- 72.5 -
Ltd
(Issuer Not Cooperating)
Siddhartha Engineering Ltd LT Bk Fac CARE BB+ 370 -
(Issuer Not Cooperating)
Siddhartha Engineering Ltd Long/ST Bk Fac CARE BB+/A4+ 1180 -
(Issuer Not Cooperating)
Sidhi Vinayak Rice Mills LT Bk Fac CARE D 41.4 -
(Issuer Not Cooperating)
Siti Networks Ltd LT Bk Fac CARE BBB- 1420 Rating
revised from
A-
Rating placed on credit watch with negative implications
Siti Networks Ltd LT Bk Fac CARE BBB- 1420 Rating
revised from
A-
Rating placed on credit watch with negative implications
Sk Overseas LT BkFac CARE B+ 95.6 -
(Issuer Not Cooperating)
Skg Timbers Pvt Ltd LT BkFac CARE B+ 30 -
(Issuer Not Cooperating)
Sukhbir Agro Energy Ltd LT BkFac CARE A- 11645.1 Reaffirmed
(enhanced from 1,021.41 Crore)
Sukhbir Agro Energy Ltd Long/ST BkFac CARE A-/A2 1055 Reaffirmed
Surindera Cycles Pvt Ltd LT BkFac CARE BB- 188.5 Reaffirmed
(reduced from Rs.19.00 crore Crore)
Syndicate Wiper Systems Pvt Ltd LT Bk Fac CARE BBB- 50 -
(Issuer Not Cooperating)
Syndicate Wiper Systems Pvt Ltd LT/ST Bk Fac CARE BBB-/A3 100 -
(Issuer Not Cooperating)
Talwalkars Better Value Fitness Ltd LT NCD CARE AA 250 Assigned
Talwalkars Lifestyle Ltd LT Bk Fac- TL CARE AA 2829.8 Reaffirmed
(Enhanced from 237.98 Crore)
Talwalkars Lifestyle Ltd LT NCD CARE AA 716.7 Reaffirmed
(Reduced from 91.67 Crore)#
Talwalkars Lifestyle Ltd LT NCD CARE AA 250 Assigned
Tesla Transmission Control LT Bk Fac CARE BB 50 Assigned
Thakurdas Lotwala LT BkFac CARE B+ 75 -
(Issuer Not Cooperating)
The Climate Makers (Sales) LT BkFac CARE B+ 59.5 -
(Issuer Not Cooperating)
Trimax Datacenter Services Ltd LT Bk Fac CARE D 211.1 -
(Issuer Not Cooperating)
Trimax It Infrastructure And Services LT Bk Fac CARE D 8634 -
Ltd
(Issuer Not Cooperating)
Universal Biomass Energy Pvt Ltd LT Bk Fac (TL) - - Withdrawn
Universal Biomass Energy Pvt Ltd LT Bk Fac (Fund CARE BBB- 150 Reaffirmed
Based-CC)
Universal Infra Pvt Ltd LT Bk Fac CARE BBB+ (SO)*139.9 Reaffirmed
(reduced from 16.34 Crore)
Vibhor Steel Tubes Pvt Ltd LT Bk Fac CARE BBB 545.7 Assigned
Vibrant Laminate Pvt Ltd LT Bk Fac CARE B+ 135 -
(Issuer Not Cooperating)
Vijay Construction LT Bk Fac - - Withdrawn
Vijay Construction Long/ST Bk Fac - - Withdrawn
Zee Entertainment Enterprises Ltd LT BkFac CARE AA+ 1250 Revised from
CARE AA+
Zee Learn Ltd LT NCD (NCD) issue@CARE AA+ (SO) 650 -
Rating placed on credit watch with negative implications, @ Backed by unconditional and
irrevocable Corporate Guarantee extended by Zee Entertainment Enterprises Limited (rated CARE
AA+; Credit watch with negative implications/CARE A1+) for maintaining Debt Service Reserve
Account (DSRA) to top up the reserve account to meet any shortfall in servicing outstanding
obligations of the said debentures, seven days prior to the due date.
Zee Media Corporation Ltd LT Bk Fac – TL CARE A 1132 -
Rating placed on credit watch with negative implications
Zee Media Corporation Ltd LT Bk Fac – CC CARE A 1000 -
Rating placed on credit watch with negative implications
Zigma Global Environ Solutions Pvt LtdLT Bk Fac CARE BBB- 574.2 Reaffirmed
(enhanced from 12.66 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)
