February 15, 2019 / 9:22 AM / 8 months ago

CARE ratings for Indian debt instruments-Feb 15

   Feb 15 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 14, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Atlas Fisheries Pvt Ltd               ST Bk Fac          -              -       Withdrawn
Acs Technologies Ltd                  ST Bk Fac          CARE A4        40      -
(Issuer not cooperating);Based on best available Information
Adilaxmi Industries                   ST BkFac           CARE A4        20      -
(Issuer not cooperating);Based on best available Information
Airen Metals Pvt Ltd                  ST Bk Fac          CARE A3        2745    Reaffirmed
Ashavari Trading Pvt Ltd              ST Bk Fac          CARE A4        1       Assigned
Jambuwala Capital Services Pvt Ltd    ST Bk Fac          -              -       Withdrawn
Cebon Ceramic Pvt Ltd                 ST Bk Fac          -              -       Withdrawn
Clean Max Enviro Energy Solutions Pvt ST Bk Fac (LC/     CARE A2        1150    Reaffirmed
Ltd                                   Forward cover)
Conffi Sanitaryware Pvt Ltd           ST Bk Fac          CARE A2        10.8    Revised from
                                                                                CARE A3+
Ecl Finance Ltd                       CP (IPO Financing) CARE A1+       50000   Assigned
Edelweiss Commodities Services Ltd    CP (IPO Financing) CARE A1+       50000   Assigned
Eza Gold And Diamonds                 ST Bk Fac          CARE A4        75      -
(Issuer not cooperating);Based on best available Information
Fiorenza Granito Pvt Ltd              ST Bk Fac          CARE A3        85.2    Revised from
                                                                                CARE A4+
Galaxy Laboratories Pvt Ltd           ST Bk Fac          CARE A3        17.5    Assigned
Gopal Rice Mill                       ST Bk Fac          CARE A4        70      -
(Issuer not cooperating);Based on best available Information
Maheshwari Woods Pvt Ltd              ST Bk Fac          CARE A4        60      Reaffirmed
Reise Enterprises                     ST Bk Fac          -              -       Withdrawn
Kotecha Industries Ltd                ST Bk Fac          CARE D         30      -
(Issuer not cooperating); Based on best available Information
B. D. Overseas And Fiscal Services LtdST Bk Fac          CARE D         10      Revised from
                                                                                CARE A4
(Issuer not cooperating);Based on best available Information
Mbc Infra-Space Pvt Ltd               ST Bk Fac          CARE A4        42.5    Assigned
Moka Business Pvt Ltd                 ST Bk Fac          CARE A4        125     Reaffirmed
(enhanced from 7.00 Crore)
Nafis Tanning Industries              ST Bk Fac          CARE A4        15      -
(Issuer not cooperating);Based on best available Information
Premier Car Sales Ltd                 ST Bk Fac          CARE A4+       422.4   Reaffirmed
Shree Vardhman Power Pvt Ltd          ST Bk Fac          CARE A4        90      Reaffirmed
Smarttrak Solar Systems Pvt Ltd       ST Bk Fac          CARE A4        20      -
(Issuer not cooperating);Based on best available Information
Solaris Ceramics Pvt Ltd              ST Bk Fac          CARE A2+       63      Reaffirmed
(Reduced from Rs.7.80 crore Crore)
Sintercom India Ltd                   ST Bk Fac          -              -       Withdrawn
Riga Sugar Co. Ltd                    ST Bk Fac          CARE D         50      -
(Issuer not cooperating);Based on best available Information
Shree Krishnanand Infrastructure And  ST Bk Fac          CARE D         80      -
Developers Pvt Ltd
(Issuer not cooperating);Based on best available Information
Suzlon Energy Ltd                     CP                 CARE A4        10000   Revised from
                                                                                CARE A3
Tocco Ceramic Pvt Ltd                 ST Bk Fac          CARE A2+       50.5    Reaffirmed
(Reduced from Rs.5.55 crore Crore)
Varmora Granito Pvt Ltd               ST Bk Fac          CARE A2+       98      Reaffirmed
(Reduced from Rs.11.73 crore Crore)
Varmora International                 ST Bk Fac          CARE A2+       10      Reaffirmed


LONG TERM RATINGS:
-------------------
Acs Technologies Ltd                  LT Bk Fac          CARE BB-       160     Revised from
                                                                                CARE BB
(Issuer not cooperating);Based on best available Information
Adilaxmi Industries                   Long -term BkFac   CARE B+        158.7   Revised
                                                                                fromCARE BB-
(Issuer not cooperating);Based on best available Information
Aditya Oil Industries                 LT Bk Fac          CARE BB-       115.3   -
(Issuer not cooperating);Based on best available Information
Aggarwal Coal Company                 LT Bk Fac          CARE B+        150     -
(Issuer not cooperating);Based on best available Information
Airen Metals Pvt Ltd                  LT Bk Fac          CARE BBB-      288.6   Revised from
                                                                                CARE BBB
Ally Pharma Options Pvt Ltd           LT/ shortterm BkFacCARE B+/CARE A4100     Revised from
                                                                                CARE BB-/
                                                                                CARE A4
(Issuer not cooperating);Based on best available Information
Amol Pharmaceuticals Pvt Ltd          LT Bk Fac          CARE BBB-      50      Reaffirmed
Amol Pharmaceuticals Pvt Ltd          Long- term/ ST Bk  CARE BBB-/CARE 260     Reaffirmed
                                      Fac                A3
Ashavari Trading Pvt Ltd              LT Bk Fac          CARE BB-       99      Assigned
B. D. Overseas And Fiscal Services LtdLT Bk Fac          CARE D         203     Revised from
                                                                                CARE BB
(Issuer not cooperating);Based on best available Information
Bhavnagar Energy Co. Ltd              LT Bk Fac          -              -       Withdrawn
Bhilai Engineering Corporation Ltd    FB - LT-CC         CARE B         1029    Reaffirmed
Bhilai Engineering Corporation Ltd    Non-FB - LT/       CARE B/CARE A4 6108.1  Reaffirmed
                                      ST-BGs
Cebon Ceramic Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Cebon Ceramic Pvt Ltd                 LT/ ST Bk Fac      -              -       Withdrawn
Clean Max Enviro Energy Solutions Pvt LT Bk Fac (CC)     CARE BBB+      100     Reaffirmed
Ltd
Conffi Sanitaryware Pvt Ltd           LT Bk Fac          CARE BBB+      158.6   Revised from
                                                                                CARE BBB
(Reduced from Rs.17.75 crore Crore)
Dali & Samir Engineering Pvt Ltd      LT Bk Fac          CARE BBB-      75      Assigned
Dali & Samir Engineering Pvt Ltd      Long/ST BkFac      CARE BBB-/CARE 245     Assigned
                                                         A3
Dhabriya Polywood Ltd                 LT Bk Fac          CARE BBB-      349.3   Assigned
Eza Gold And Diamonds                 Long -term Bk Fac  CARE B         60      -
(Issuer not cooperating);Based on best available Information
Fiorenza Granito Pvt Ltd              LT Bk Fac          CARE BBB-      323.1   Revised from
                                                                                CARE BB+
(Reduced from Rs.40.42 crore Crore)
Galaxy Laboratories Pvt Ltd           LT Bk Fac          CARE BBB-      70      Assigned
Gopal Rice Mill                       LT Bk Fac          CARE B+        10      -
(Issuer not cooperating);Based on best available Information
Grand Prix Engineering Pvt Ltd        LT Bk Fac          CARE BB+       100     Reaffirmed
Grand Prix Engineering Pvt Ltd        LT/ST BkFac        CARE BB+/CARE  185     Reaffirmed
                                                         A4+
Icici Prudential Mutual Fund - Icici  Close – Ended      -              -       Withdrawn
Prudential Capital Protection Oriented Capital
Fund Iv Plan A                         Protection Oriented Fund

Icici Prudential Mutual Fund - Icici  Close – Ended      -              -       Withdrawn
Prudential Capital Protection Oriented Capital
Fund Viii Plan E                       Protection Oriented Fund

Icici Prudential Mutual Fund - Icici  Close – Ended      -              -       Withdrawn
Prudential Capital Protection Oriented Capital
Fund Viii Plan G                       Protection Oriented Fund

Icici Prudential Mutual Fund- Icici   Close – Ended      -              -       Withdrawn
Prudential Capital Protection Oriented Capital
Fund Vii Plan C                        Protection Oriented Fund

Icici Prudential Mutual Fund -Icici   Close – Ended      -              -       Withdrawn
Prudential Capital Protection OrientedCapital
Fund Vii Plan E                       Protection Oriented Fund

Icici Prudential Mutual Fund -Icici   Close – Ended      -              -       Withdrawn
Prudential Capital Protection Oriented Capital
Fund Vii Plan F                        Protection Oriented Fund

Icici Prudential Mutual Fund -Icici   Close – Ended      -              -       Withdrawn
Prudential Capital Protection Oriented Capital
Fund Vii Plan G                        Protection Oriented Fund

Icici Prudential Mutual Fund -Icici   Close – Ended      -              -       Withdrawn
Prudential Capital Protection Oriented Capital
Fund Vii Plan H                       Protection Oriented Fund
Icici Prudential Mutual Fund -Icici   Close – Ended      -              -       Withdrawn
Prudential Capital Protection Oriented Capital
Fund Viii Plan F                      Protection Oriented Fund
Icici Prudential Mutual Fund -Icici   Close – Ended      -              -       Withdrawn
Prudential Capital Protection Oriented Capital
Fund Viii Plan H                      Protection Oriented Fund

Icici Prudential Mutual Fund -Icici   Close – Ended      -              -       Withdrawn
Prudential Capital Protection Oriented Capital
Fund Iv Plan C                        Protection Oriented Fund
K P Industries                        LT Bk Fac          CARE D         96.9    -
(Issuer not cooperating);Based on best available Information
Kankani Enterprises Pvt Ltd           LT Bk Fac          CARE B+        97.6    -
(Issuer not cooperating);Based on best available Information
Kotecha Industries Ltd                LT Bk Fac          CARE D         35      -
(Issuer not cooperating);Based on best available Information
Madhav Solar Pvt Ltd                  LT Bk Fac          CARE BBB       132.7   Reaffirmed
(reduced from Rs.15.38 crore Crore)
Maheshwari Woods Pvt Ltd              LT Bk Fac          CARE BB        72.1    Reaffirmed
(reduced from 7.29 Crore)
Mbc Infra-Space Pvt Ltd               LT Bk Fac          CARE C         45.5    Assigned
Moka Business Pvt Ltd                 LT/ST Bk Fac       -              -       Withdrawn
Moka Business Pvt Ltd                 LT Bk Fac          CARE BB        121     Reaffirmed
(enhanced from 7.50 Crore)
Nafis Tanning Industries              LT Bk Fac          CARE B+        45      Revised from
                                                                                CARE BB-
(Issuer not cooperating);Based on best available Information
Orange Jaisalmer Wind Energy Pvt Ltd   
                                      ;Migrated to non-cooperating category
Plasma Metal Processing Pvt Ltd       LT Bk Fac          CARE D (Single 317.2   Revised from
                                                         D)                     CARE B+
Prashanti Educational & Welfare SocietLT Bk Fac          CARE BB        120     Revised from
                                                                                CARE BB+
(Issuer not cooperating);Based on best available Information
Premier Car Sales Ltd                 LT Bk Fac          CARE BB+       511.4   Reaffirmed
Reise Enterprises                     LT Bk Fac          -              -       Withdrawn
Reliance Big Pvt Ltd                  NCD @              -              -       Withdrawn
@ Backed by credit enhancement in the form of unconditional and irrevocable 
corporate guarantee by Reliance Innoventures Private Limited (RIPL, guarantor)
Repco Microfinance Ltd                LT Bk Fac          CARE BBB+      4000    Reaffirmed
(enhanced from 250.00 Crore)
Riga Sugar Co. Ltd                    LT Bk Fac          CARE D         1041.4  -
(Issuer not cooperating);Based on best available Information
S.K.Sulz Fab Pvt Ltd                  LT Bk Fac          CARE B+        90      -
(Issuer not cooperating);Based on best available Information
Sadaram Jining And Pressing IndustriesLT Bk Fac          CARE D         81.9    -
(Issuer not cooperating);Based on best available Information
Sahajanand Cotspin Pvt Ltd            LT BkFac           CARE BB-       95.4    Assigned
Sampat Aluminium Pvt Ltd              LT Bk Fac          CARE D (Single 45.4    Assigned
                                                         D)
Satish Motors Pvt Ltd                 LT Bk Fac          CARE B+        200     Reaffirmed
Shree Krishnanand Infrastructure And  LT Bk Fac          CARE D         10      -
Developers Pvt Ltd
(Issuer not cooperating);Based on best available Information
Shree Rameshwar Cotex Industries      LT Bk Fac          CARE B+        73      -
(Issuer not cooperating);Based on best available Information
Shree Vardhman Power Pvt Ltd          LT Bk Fac          CARE BB        70      Reaffirmed
Shreejee Cotex                        LT Bk Fac          CARE BB-       80.8    Assigned
Shri Ram Cot Fab                      LT Bk Fac          CARE B+        324.5   -
(Issuer not cooperating);Based on best available Information
Sintercom India Ltd                   LT Bk Fac          -              -       Withdrawn
Sintercom India Ltd                   LT/ST Bk Fac       -              -       Withdrawn
Smarttrak Solar Systems Pvt Ltd       Long -termBk Fac   CARE BB-       90      Revised from
                                                                                CARE BB
(Issuer not cooperating);Based on best available Information
Solaris Ceramics Pvt Ltd              LT Bk Fac          CARE A-        136.6   Reaffirmed
(Enhanced from Rs.4.35 crore Crore)
Solaris Ceramics Pvt Ltd              Long/ST BkFac      CARE A-/CARE   150     Reaffirmed
                                                         A2+
Sps Spinning Mills                    LT Bk Fac          CARE BB        56.3    Reaffirmed
(Reduced from Rs.6.16 Crore Crore)
Sreedhareeyam Ayurvedic Eye Hospital  LT Bk Fac          CARE BB+       63.1    Reaffirmed
And Research Center Pvt Ltd
(reduced from 7.74 Crore)
Sreedhareeyam Ayurvedic Medicines Pvt LT Bk Fac          CARE BB+       48.5    Reaffirmed
Ltd
(reduced from 5.25 Crore)
Sri Gowrish Cnc Pvt Ltd               LT Bk Fac          CARE BB-       69.4    Reaffirmed
(Reduced from 7.00 Crore)
Sri Ranisati Steels Pvt Ltd           LT Bk Fac          CARE BB-       60      Assigned
Suzlon Energy Ltd                     LT BkFac           CARE BB        98237.1 Revised from
                                                                                CARE BBB-
Suzlon Energy Ltd                     LT / ShortTerm     CARE BB/CARE   44422.1 Revised from
                                      BkFac              A4                     CARE BBB-
Tocco Ceramic Pvt Ltd                 LT Bk Fac          CARE A-        54.8    Reaffirmed
(Enhanced from Rs.4.65 crore Crore)
Tocco Ceramic Pvt Ltd                 Long/ST BkFac      CARE A-/CARE   180     Reaffirmed
                                                         A2+
Varmora Granito Pvt Ltd               LT Bk Fac          CARE A-        106.7   Reaffirmed
(Reduced from Rs.17.23 crore Crore)
Varmora Granito Pvt Ltd               Long/ST BkFac      CARE A-/CARE   500     Reaffirmed
                                                         A2+
(Reduced from Rs.52.00 crore Crore)
Varmora International                 Long/ST BkFac      CARE A-/CARE   120     Reaffirmed
                                                         A2+
(Reduced from Rs.20.00 Crore Crore)
Vikas Cotton Industries Pvt Ltd       LT Bk Fac          CARE B         85.4    -
(Issuer not cooperating);Based on best available Information
Vivriti Corey 02 2019 (Originator:    Series A PTC       Provisional    -       -
Incred Financial Services Ltd)                           CARE AA- (SO)
--------------------------------------------------------------------------------------------
$: 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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