February 13, 2019 / 7:24 AM / 10 days ago

CARE ratings for Indian debt instruments-Feb 13

    Feb 13 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 12, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aathava Garments India Pvt Ltd        ST Bk Fac          CARE A3        80      Reaffirmed
(reduced from 9 Crore)
Acme Magadh Solar Power Pvt Ltd       ST BkFac           CARE A2+       100     Revised from
                                                                                CARE A3+
Acme Nalanda Solar Power Pvt Ltd      ST BkFac           CARE A2+       150     Revised from
                                                                                CARE A3+
Adani Power Maharashtra Ltd           ST Bk Fac          CARE A2        3000    Assigned
Ajit Construction Company             ST Bk Fac          CARE A4        24      -
(Issuer Not Cooperating)
Asta Ceramic Pvt Ltd                  ST Bk Fac          CARE A4        15      -
(Issuer Not Cooperating)
Bagaria Aluminium Alloys Pvt Ltd      ST Bk Fac          CARE A4        30      -
(Issuer Not Cooperating)
Haro Gouri Agro Products              ST Bk Fac          CARE A4        5       Assigned
Jajoo Exim Pvt Ltd                    ST Bk Fac          CARE A4        80      -
(Issuer Not Cooperating)
Jajoo Rashmi Refectories Pvt Ltd      Short –term Bk Fac CARE A4        30      -
(Issuer Not Cooperating)
Kiran Global Chem Ltd                 ST Bk Fac          CARE D/        1085    Revised from
                                                         CARE D                 CARE BB /
                                                                                CARE A4
Ostro Kutch Wind Pvt Ltd              ST Bk Fac – LOC    CARE A1+(SO)   1150    Reaffirmed
(enhanced from 109 Crore)
Parth Motors                          ST Bk Fac          CARE A4        10      -
(Issuer Not Cooperating)
Premier Enterprises                   ST Bk Fac          CARE A4        110     -
(Issuer Not Cooperating)
Royale Marine Impex Pvt Ltd           ST Bk Fac          CARE A4+       42.5    Reaffirmed
(enhanced from 0.90 Crore)
Sanwariya Impex Pvt Ltd               ST Bk Fac          CARE A4        0.6     -
(Issuer Not Cooperating)
Shree Shakti Construction             ST Bk Fac          CARE A4        20      -
(Issuer Not Cooperating)
Sri Raghavendra Constructions         ST Bk Fac          CARE A4        17.5    Assigned
Sujata Udit Builders Pvt Ltd          ST Bk Fac          CARE A4        30      -
(Issuer Not Cooperating)
Sushila International                 ST Bk Fac          CARE A4        165     Reaffirmed
Vensar Constructions Co. Ltd          ST Bk Fac          CARE A3        385     Reaffirmed
Yuken India Ltd                       ST BkFac           CARE A3+       70      Revised from
                                                                                CARE A3
(enhanced from 5 Crore)

LONG TERM RATINGS:
-------------------
Aathava Garments India Pvt Ltd        LT Bk Fac          CARE BBB-      37.9    Reaffirmed
(reduced from 5 Crore)
Abhigna Rice And Paraboiled IndustriesLT Bk Fac          CARE B+        55      Assigned
Acme Magadh Solar Power Pvt Ltd       LT BkFac           CARE A-        531.1   Revised from
                                                                                CARE BBB
(reduced from Rs.55.94 Crore)
Acme Nalanda Solar Power Pvt Ltd      LT BkFac           CARE A-        799     Revised from
                                                                                CARE BBB
(reduced from Rs. 84.15 Crore)
Adani Power Maharashtra Ltd           LT Bk Fac          CARE A-        144802.4Reaffirmed
Adani Power Maharashtra Ltd           LT / ST BkFac      CARE A-/A2     9100    Reaffirmed
Aditi Constructions                   LT Bk FacProposed  CARE BB-       150     Assigned
Aditi Deva Mills Prvate Ltd           LT Bk Fac          CARE B+        69.2    -
(Issuer Not Cooperating)
Ajit Construction Company             LT Bk Fac          CARE B         35      -
(Issuer Not Cooperating)
Anant Steels Pvt Ltd                  LT Bk Fac          CARE BB        60      Revised from
                                                                                CARE BB-
Annapurna Cotex Pvt Ltd               LT Bk Fac          CARE BB        110     -
(Issuer Not Cooperating)
Annapurna Coton Impex                 LT BkFac           CARE BB        60      -
(Issuer Not Cooperating)
Asta Ceramic Pvt Ltd                  LT Bk Fac          CARE BB        56.7    -
(Issuer Not Cooperating)
Bagaria Aluminium Alloys Pvt Ltd      LT Bk Fac          CARE BB-       70      -
(Issuer Not Cooperating)
Bhandari Jewellers                    LT Bk Fac          CARE BB        100     -
(Issuer Not Cooperating)
Bhind Mihona Gopalpur Toll Road Ltd   LT Bk Fac          CARE BB (SO)   523.5   Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Bina Khimalasa Malthon Toll Roads Ltd LT Bk Fac          CARE BB (SO)   408.7   Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Chouhan Automobiles Llp               LT Bk Fac          CARE B         205     Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Coruscation Vidyut Vitaran (Ujjain) PvLT Bk Fac -        CARE BB (SO)   625     Revised from
Ltd (Erstwhile Known As Essel Vidyut  Working Capital                           CARE BBB- (SO)
Vitaran (Ujjain...                    DemandLoan
(under credit watch with developing implications)
Damoh Jabalpur Toll Roads Ltd         LT Bk Fac          CARE BB (SO)   767.2   Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Deepak Fertilisers And Petrochemicals CP Issue           -              -       Withdrawn
Corporation Ltd
Essel Ahmedabad Godhra Tollroads Pvt LLT Bk Fac          CARE BB (SO)   7726.4  Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Essel Bagalkot Solar Energy Pvt Ltd   LT Bk Fac – TL     CARE BB (SO)   301.4   Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Essel Green Energy Pvt Ltd            LT Bk Fac          CARE BB (SO)   1000    Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Essel Gulbarga Solar Power Pvt Ltd    LT BkFac – TermLoanCARE BB (SO)   198.1   Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Essel Gwalior Shivpuri Toll Roads Pvt LT BkFac           CARE BB (SO)   10900   Revised from
Ltd                                                                             CARE BBB- (SO)
(under credit watch with developing implications)
Essel Walajahpet Poonamallee Toll RoadLT BkFac (TL)      CARE BB (SO)   1641.4  Revised from
Pvt Ltd                                                                         CARE BBB- (SO)
(under credit watch with developing implications)
Gharib Nawaz Infra                    LT Bk Fac          CARE B+        50      Assigned
Gig Motors                            LT Bk Fac          CARE B+        133.1   Reaffirmed
(Enhanced from Rs.10.31 Crore)
Glass Build Industry                  LT Bk Fac          CARE B         100     Reaffirmed
(Enhanced from 9.00 crore Crore)
Haro Gouri Agro Products              LT Bk Fac          CARE B+        91.8    Assigned
Highness Cotton Industries            LT BkFac           CARE B+        65      -
(Issuer Not Cooperating)
Ifl Housing Finance Ltd               LT BkFac           CARE BB+       500     -
                                      (Proposed)
Indian Receivable Trust 18 – Feb2019  Series A2 PTC#     ProvCARE AA    -       -
(Originator: Reliance Commercial                         (SO)
Finance Ltd.)
*The tenure may change due to prepayments / foreclosures in the pool. 
Indian Receivable Trust 18 – Feb2019  Series A1 PTC#     ProvCARE AA    -      -
(Originator: Reliance Commercial                         (SO)
Finance Ltd.)
*The tenure may change due to prepayments / foreclosures in the pool. 
Jabalpur Msw Pvt Ltd                  LT BkFac – TL      CARE BB (SO)   1123.6  Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Jabalpur Msw Pvt Ltd                  LT BkFac – CC      CARE BB (SO)   50      Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Jajoo Exim Pvt Ltd                    LT Bk Fac          CARE BB-       5       -
(Issuer Not Cooperating)
Jajoo Export                          LT /ST Bk Fac      CARE BB-/A4    96      -
(Issuer Not Cooperating)
Jajoo Rashmi Refectories Pvt Ltd      LT Bk Fac/ST Bk    CARE BB-/A4    80      -
                                      Fac
(Issuer Not Cooperating)
Kasturi K12 Services Pvt Ltd          LT Bk Fac          CARE B+        145     Assigned
Kiran Global Chem Ltd                 LT Bk Fac          CARE D         931.5   Revised from
                                                                                CARE BB
Krishna Hydrocarbons Pvt Ltd          LT BkFac           CARE BB+       99      Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Kuber Tubes And Fittings Pvt Ltd      LT Bk Fac          CARE B         90      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
L.M.Cotex Pvt Ltd                     LT Bk Fac          CARE B+        101.6   Reaffirmed
Loh Swetanshu Prakashbhai             LT Bk Fac          CARE BB-       57
(Issuer Not Cooperating)
Ludhiana Talwandi Toll Roads Pvt Ltd  LT BkFac           CARE BB (SO)   5239.5  Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Maa Shitala Agro Pvt. Ltd             LT Bk Fac          CARE BB-       117.4   Reaffirmed
Reaffirmed
Malegaon Manmad Kopergaon             LT Bk Fac          CARE BB (SO)   1344    Revised from
Infrastructure & Toll Roads Pvt Ltd.                                            CARE BBB- (SO)
(under credit watch with developing implications)
Mbe Coal & Mineral Technologies India b. LT Bk Fac       CARE C         100     Revised from
Pvt Ltd                                                                         CARE B+
Mbe Coal & Mineral Technologies India c. Long/ST Bk Fac  CARE C/A4      100     Revised from
Pvt Ltd                                                                         CARE B+ /CARE
                                                                                A4
Mbe Coal & Mineral Technologies India a. LT Bk Fac       CARE D         85      Revised from
Pvt Ltd                                                                         CARE B+
Mhow Ghatabillod Toll Roads Pvt Ltd   LT Bk Fac          CARE BB (SO)   2001    Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Morgan Credits Pvt. Ltd.              NCD                -              -       Withdrawn
Morgan Credits Pvt. Ltd.              NCD                CARE A-        9500    Final Rating
Ms Sawa Clay And Minerals Pvt Ltd     LT Bk Fac          CARE D         162.7   Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Mukarba Chowk-Panipat Toll Roads Ltd  LT BkFac           CARE BB (SO)   13750   Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
N. B. Hi-Tech Cold Storage            LT Bk Fac          -              -       Withdrawn
Naman Associates                      LT Bk Fac          CARE BB        64.4    Assigned
National Rice Mill                    LT Bk Fac          CARE BB-       70      Reaffirmed
New Sapna Granite Industries          LT Bk Fac          CARE D         78.4    -
(Issuer Not Cooperating)
Nyalkaran Infra                       LT Bk Fac          CARE BB-       150     -
(Issuer Not Cooperating)
Owais Ali Overseas                    LT Bk Fac          CARE B+        50      Assigned
P.M. Impex Pvt Ltd                    LT Bk Fac          CARE B+        49.5    Assigned
P.M. Impex Pvt Ltd                    LT/ST Bk Fac       CARE B+/A4     0.5     Assigned
Parth Motors                          LT Bk Fac          CARE BB-       64.5    Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Pn Clean Energy Ltd                   LT Bk Fac – TL     CARE BB (SO)   894.3   Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Pn Renewable Energy Ltd               LT BkFac – TL      CARE BB (SO)   431.6   Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Premier Enterprises                   LT Bk Fac          CARE BB+       50      -
(Issuer Not Cooperating)
Rajat Developers                      LT Bk Fac          CARE B+        85      -
(Issuer Not Cooperating)
Reliance Innoventures Pvt Ltd         LT Bk Fac          -              -       -
Revised to CARE BBB from CARE A- and withdrawn
Robo Silicon Pvt Ltd                  LT Bk Fac          CARE BB+       560     Revised from
                                                                                CARE BB
(enhanced from 24.00 Crore)
Royale Marine Impex Pvt Ltd           LT Bk Fac (TL)     -              -       Withdrawn
Royale Marine Impex Pvt Ltd           LT/ST BkFac        CARE BB+/A4+   575     Reaffirmed
(enhanced from 6.66 Crore)
S.S.S. Rice Mill Pvt Ltd              LT Bk Fac          CARE BB-       161.5   Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Sagar Damoh Toll Roads Ltd            LT Bk Fac          CARE BB (SO)   419.5   Revised from
                                                                                CARE BBB- (SO)
(under credit watch with developing implications)
Sagar Metallics Pvt Ltd               LT Bk Fac          CARE BB-       19.8    -
(Issuer Not Cooperating)
Sagar Metallics Pvt Ltd               LT/ST Bk Fac       CARE BB-/A4    110     -
(Issuer Not Cooperating)
Sanwariya Impex Pvt Ltd               LT Bk Fac          CARE B+        47      -
(Issuer Not Cooperating)
Shemon Jewels                         LT Bk Fac          CARE BB        42      Assigned
Shemon Jewels                         Proposed Long/ST   CARE BB/A4     78      Assigned
                                      Bk Fac
Shree Shakti Construction             LT Bk Fac          CARE B+        85      -
(Issuer Not Cooperating)
Shri Ganga Four Wheels Pvt Ltd        LT Bk Fac          -              -       Withdrawn
Shri Ram Agro Sciences Pvt Ltd        LT Bk Fac          CARE B         150     Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Sivana Steel And Power Pvt Ltd        LT Bk Fac          CARE B+        122.6   Assigned
Sk. Samir Ali                         LT Bk Fac          CARE BB-       80      -
(Issuer Not Cooperating)
Sri Madan Gopal Bhikamchand Marketing LT/ST Bk Fac       CARE D/D       100     -
Pvt Ltd
(Issuer Not Cooperating)
Sri Meher Chaitanya Modern Rice Mill  LT Bk Fac          CARE BB-       60.3    Assigned
Sri Raghavendra Constructions         LT Bk Fac          CARE BB-       50      Assigned
Sujata Udit Builders Pvt Ltd          LT Bk Fac          CARE BB-       44      -
(Issuer Not Cooperating)
Sushee Ivrcl Arunachalhighways Ltd    LT Bk Fac          CARE D         2340    Revised from
                                                                                CARE BB
Sushee Ivrcl Arunachalhighways Ltd    LT/ST Bk Fac       CARE D/D       743     Revised from
                                                                                CARE BB /CARE
                                                                                A4
Sushila International                 LT Bk Fac          CARE B         20.5    Reaffirmed
Tata Industries Ltd                   Proposed NCD       CARE AAA(SO)   60000   Assigned
                                      issue/TL
Umesh Industries Pvt Ltd              LT Bk Fac          CARE B+        87.8    -
(Issuer Not Cooperating)
Vensar Constructions Co. Ltd          LT Bk Fac          CARE BBB       845     Revised from
                                                                                CARE BBB-
Vivriti Corey 01 2019 (Originator:    Series A PTCs      -              -       Withdrawn
Incred Financial Services Ltd) -Vivriti
Corey 01 2019
Yes Capital (India) Pvt Ltd           NCD issue          CARE AA        4950    Reaffirmed
Yuken India Ltd                       LT BkFac-TL^       -              -       Withdrawn
^Entire term loan has been repaid
Yuken India Ltd                       LT BkFac-CC        CARE BBB       220     Revised from
                                                                                CARE BBB-
--------------------------------------------------------------------------------------------
$: 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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