February 14, 2020 / 8:09 AM / 11 days ago

CARE ratings for Indian debt instruments-Feb 14

    Feb 14  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of February 13, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Accra Pac (India) Pvt Ltd             ST Non Fund Based  CARE A3        5       Reaffirmed
                                      Bk Fac
Ambuja Intermediates Pvt Ltd          ST Bk Fac          CARE A2        270     Reaffirmed
Removed from credit watch

B.M.Foods                             ST Bk Fac          CARE A4        8       -
Issuer not cooperating
Mulji Devshi And Company              ST Bk Fac          CARE D         197.5   Revised from
                                                                                CARE A4
Issuer not cooperating
Madhav Solar (Karnataka) Pvt Ltd      ST Bk Fac@         -              -       Withdrawn
@backed by joint and several & irrevocable and unconditional co-obligor undertaking provided by
Euro Solar Power Private Ltd.
Brahmaputra River Valley Trading Pvt  ST BkFac           CARE A4;       330     -
Ltd
Issuer not cooperating
Consite Engineering Company Ltd       ST Bk Fac          CARE A4        78      -
                                      (Non-fund based)
Issuer not cooperating
Sri Venkatesh Iron And Alloys (India) ST Bk Fac          -              -       Reaffirmed at
Ltd                                                                             CARE A4
Euro Solar Power Pvt Ltd              ST BkFac           CARE A2+(CE)   30      -
Placed on credit watch with developing implications
Goa Sponge & Power Ltd                ST Fac             CARE A4        90      Reaffirmed
Gupta H.C. Overseas (I) Pvt Ltd       ST Bk Fac (Non     CARE A3        75      -
                                      Fund Based)
Issuer not cooperating
Shyamali Cold Storage Pvt Ltd         ST Bk Fac          CARE D         2.5     Revised from
                                                                                CARE A4
Patwari Electricals Pvt Ltd           ST Bk Fac          CARE B+;       150     Reaffirmed
                                                         Negative /CARE
                                                         A4
K A I International Pvt Ltd           ST Bk Fac          CARE A4        462.2   Revised
from
                                                                                CARE A4+
Issuer not cooperating
Moka Business Pvt Ltd                 ST Bk Fac*         -              -       Reaffirmed
                                                                                and Withdrawn
*The facilities contain CC limit and LC limits from Standard Chartered Bank which has been
withdrawn based on No dues Certificate from the bank.
Laxmi Diamond Pvt Ltd                 ST BkFac           CARE A4        601.5   Revision from
                                                                                CARE A4+
Issuer not cooperating. Based on best available information
Patwari Electricals Pvt Ltd           Long/ST BkFac      CARE A4        20      Reaffirmed
S.K. Jain Constructions Pvt Ltd       ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4
Issuer not cooperating
S. J. Green Park Energy Pvt Ltd       ST BkFac*          CARE A2+(CE)   30      -
                                                         
under credit watch with developing implications
Placed on credit watch with developing implications
Srsg Broadcast India Pvt Ltd          ST Bk Fac          CARE A4        75.1    Reaffirmed

LONG TERM RATINGS:
-------------------
Accra Pac (India) Pvt Ltd             LT Fund BasedBk FacCARE BBB- ;    182     Reaffirmed
                                                         Stable
Agarwal Spices And Food Processors PvtLT Bk Fac          -              -       Reaffirmed at
Ltd                                                                             CARE BB-
Reaffirmed at CARE BB-; Stable and Withdrawn
Ambuja Intermediates Pvt Ltd          LT Bk Fac          CARE BBB+;     257     Reaffirmed
                                                         Stable
Removed from credit watch
Ambuja Intermediates Pvt Ltd          LT/ STBk Fac       CARE BBB+;     300     Reaffirmed
                                                         Stable/CARE A2
Removed from credit watch
Ambuja Solvex Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Ambuja Solvex Pvt Ltd                 LT/ ST Bk Fac*     CARE BBB+(CE); 130     Reaffirmed
                                                         Stable/ CARE
                                                         A2+ (CE)
Removed from credit watch, *certain facilities have been reclassified from short-term fund based
limit to long-term/short-term fund based limits; 
Apl Metals Ltd                        LT Bk Fac          CARE B+; Stable100     Revised
                                                                                from
                                                                                CARE BB-;
                                                                                Stable
Issuer not cooperating
Avaada Clean Energy Pvt Ltd           LT Bk Fac          CARE BBB;      220.3   Reaffirmed
                                                         Stable
(reduced from Rs.22.36 crore Crore)
B.M.Foods                             LT Bk Fac          CARE BB-;Stable73.2    Revised from
                                                                                CARE
                                                                                BB;
                                                                                Stable
Issuer not cooperating
Brahmaputra River Valley Trading Pvt  LT BkFac           CARE BB-;      120     Revised from
Ltd                                                         Stable                 CARE BB;
                                                                                Stable
Issuer not cooperating
Consite Engineering Company Ltd       Long -term Bk Fac  CARE B         55      -
                                      (Fund based)
Issuer not cooperating
Dwaraka Tirumala Traders              LT BkFac           CARE B         140     Revised from
                                                                                CARE B+
Issuer not cooperating
Enertech Fuel Solutions Pvt Ltd       LT/ ST Bk Fac      CARE BB+;      120.6   Reaffirmed
                                                         Stable/CARE A4+
Euro Solar Power Pvt Ltd              LT BkFac*          CARE A-(CE)    304.5   -
Placed on credit watch with developing implications
Glen Appliances Pvt. Ltd.             LT Fac (LT)        CARE A-; Stable60      Reaffirmed
Glen Appliances Pvt. Ltd.             LT/STFac (LT/ST)   CARE A-;       70      Reaffirmed
                                                         Stable /CARE A1
Goa Sponge & Power Ltd                LT Fac             CARE B; Stable 640     Reaffirmed
(reduced from 70.00 Crore)
Gopal Oil Industries                  LT Bk Fac          CARE D         79      Revised from
                                                                                CARE B; Stable
Gupta H.C. Overseas (I) Pvt Ltd       LT Bk Fac (Fund    CARE BBB-      500     Revised from
                                      Based)             Stable                 CARE BBB ;
                                                                                Stable
Issuer not cooperating
Hetero Drugs Ltd                      LT Bk Fac          CARE A; Stable 2880    Reaffirmed
Hetero Drugs Ltd                      LT/STBk Fac        CARE A;        1600    Reaffirmed
                                                         Stable/CARE A1
Hetero Labs Ltd                       LT BkFac           CARE A; Stable 31968.9 Reaffirmed
(Reduced from Rs 3,327.12 crore Crore)
Hetero Labs Ltd                       LT/STBk Fac        CARE A;        12500   Reaffirmed
                                                         Stable/CARE A1
Hetero Med Solutions Ltd              LT BkFac           CARE A (CE);   1136.9  Reaffirmed
                                                         Stable
Hetero Wind Power (Pennar) Pvt Ltd    LT BkFac           CARE A (CE);   827     Reaffirmed
                                                         Stable
Hetero Wind Power Ltd                 LT BkFac           CARE A (CE);   1916.1  Reaffirmed
                                                         Stable
K A I International Pvt Ltd           LT Bk Fac          CARE BB; Stable250     Revised
                                                                                from
                                                                                CARE BB+;
                                                                                Stable
Issuer not cooperating
Kasera Ginning Factory                LT BkFac           CARE B+; Stable200     Revised from
                                                                                CARE BB-;
                                                                                Stable
Issuer not cooperating
Krishna Sai Educational Society       LT Bk Fac          CARE BBB-;     77.7    Reaffirmed
                                                         Stable
(reduced from 10.81 Crore)
L.M. Cotex Pvt Ltd                    LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B+
Laxmi Diamond Pvt Ltd                 LT/Shortterm BkFac CARE BB/CARE A48908.5  Revised from
                                                                                CARE BB+ /
                                                                                CARE A4+
Issuer not cooperating. Based on best available information
Lidco Projects (India) Pvt Ltd        LT Bk Fac          CARE B+; Stable75      Reaffirmed
Madhav Solar (Karnataka) Pvt Ltd      LT Bk Fac@         -              -       Withdrawn
@backed by joint and several & irrevocable and unconditional co-obligor undertaking provided by
Euro Solar Power Private
Limited [ESPPL; rated CARE A- (CE);
Limited [ESPPL; rated CARE A- (CE);
Medequip Services                     LT BkFacST BkFac   CARE BB-;      -       Revised from
                                                         Stable/CARE A4         CARE BB
Issuer not cooperating
Moka Business Pvt Ltd                 LT Bk Fac*         -              -       Revised from
                                                                                CARE BB
*The facilities contain CC limit and LC limits from Standard Chartered Bank which has been
withdrawn based on No dues Certificate from the bank.
P G Foils Ltd                         LT BkFac           CARE A-; Stable900     Reaffirmed
P G Foils Ltd                         LT/ STBk Fac       CARE A-;       550     Reaffirmed
                                                         Stable/CARE A1
Patwari Electricals Pvt Ltd           LT Bk Fac          CARE B+;       50      Reaffirmed
                                                         Negative
S. J. Green Park Energy Pvt Ltd       LT BkFac*          CARE A-(CE)    288.4   -
Placed on credit watch with developing implications
S.K. Jain Constructions Pvt Ltd       LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B+
Issuer not cooperating
Sarala Foods Pvt Ltd                  LT Bk Fac          CARE BB        180     Revised from
                                                                                CARE BB
Shillong Municipal Board              Issuer Rating                     -       -
Issuer not cooperating. Based on best available information
Shree Krishna Cold Storage Pvt Ltd    LT Bk Fac          CARE B; Stable 100     Reaffirmed
Removed from Issuer Not Co-operating
Shri Venkatesh Trading Company        LT Bk Fac          CARE B; Stable 70      Revised from
                                                                                CARE B+
Issuer not cooperating
Shyamali Cold Storage Pvt Ltd         LT Bk Fac          CARE D         47.1    Revised from
                                                                                CARE B
Issuer not cooperating
Sri Langta Baba Steels Pvt Ltd        LT Bk Fac          CARE B+;Stable 250     -
Issuer not cooperating
Sri Sai Traders                       LT/ ST Bk Fac      CARE BB-;      250     Reaffirmed
                                                         Stable/CARE A4
Sri Venkatesh Iron And Alloys (India) LT Bk Fac          -              -       Reaffirmed at
Ltd                                                                             CARE BB-
Issuer not cooperating
Srsg Broadcast India Pvt Ltd          LT Bk Fac          CARE BB; Stable124.9   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@refinitiv.com)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below