Feb 21 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of February 20, 2018.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------- ---------- ------ ------- ---------
SHORT TERM RATINGS:
-------------------
Ashwini Frozen Foods ST Bk Fac CARE D 2.5 -
ISSUER NOT COOPERATING
Agl Polyfil Pvt Ltd ST Bk Fac CARE A4 59.4 Reaffirmed
Alcob India Pvt Ltd ST Fac CARE A4 495 Assigned
Aneri Construction Pvt Ltd ST Bk Fac CARE A4 80 -
ISSUER NOT COOPERATING
Aradhan Chemtech ST Bk Fac CARE A4 10 -
ISSUER NOT COOPERATING
Bell Flower Trading Company Pvt Ltd ST Bk Fac CARE A4+ 1 Revised from
CARE A4
Bhaarathi Spintex India Pvt Ltd ST Bk Fac CARE A4 13.6 Reaffirmed
(reduced from 1.53 Crore)
Byrnihat Coal Pvt Ltd. ST BkFac CARE A4 25 -
ISSUER NOT COOPERATING
Dhariwal Steel Pvt Ltd ST Bk Fac CARE A4 14 Assigned
H.B. Ravi Kumar ST Bk Fac CARE A4 60 -
ISSUER NOT COOPERATING
Jewel Consumer Care Pvt Ltd ST Bk Fac CARE A4+ 70 Revised from
CARE A4
(reduced from Rs.13.00 Crore)
Kesoram Industries Ltd ST Bk Fac CARE A2+ 5850 -
Ratings continue on Credit watch with negative implications
Mdh Trucks Pvt Ltd ST Bk Fac CARE A4 20 Assigned
Orient Paper & Industries Ltd ST Bk Fac CARE A1+ 10 Revised from
CARE A1
(reduced from 4.30 Crore) ,(Under Credit watch with Developing Implications) ) and removal of
credit watch
Pharmatech Process Equipments Short- term Bk Fac CARE A4 35 Reaffirmed
Pratibha Fabrics Ltd ST BkFac CARE A3+ 25.5 Revised from
A3
(reduced from Rs.4.65 crore Crore)
Punjab National Bank CD CARE A1+ 600000 -
Placed on Credit Watch with DevelopingImplications
Ra Chem Pharma Ltd ST Bk Fac@ CARE A1+ (SO) 588.5 Reaffirmed
@ backed by the unconditional and irrevocable corporate guarantee provided by Micro Labs
Limited.
Raajratna Energy Holdings Pvt Ltd ST Bk Fac CARE A4+ 35 Reaffirmed
(enhanced from 3.00 Crore) , removed
from Issuer not
cooperating
Raipur Power And Steel Ltd ST Bk Fac CARE A4 220 Revised
fromCARE A3+
ISSUER NOT COOPERATING
Rr Fab Constructions ST Bk Fac CARE A4 14 -
ISSUER NOT COOPERATING
Sonata Ceramica Pvt Ltd ST Bk Fac - - Withdrawn
Shree Constructions ST Bk Fac CARE A4 20 Assigned
Yadav Tractor Company ST Bk Fac CARE A4 30 Assigned
LONG TERM RATINGS:
-------------------
Adhunik Khanan Va Parivahan Theka LT Bk Fac - - Withdrawn
Sahakari Samiti Ltd.
Agl Polyfil Pvt Ltd LT Bk Fac CARE B+ 177.5 Reaffirmed
Alcob India Pvt Ltd LT Fac CARE BB- 180 Assigned
Aneri Construction Pvt Ltd LT Bk Fac/ ST Bk CARE BB-/A4 135 -
Fac
ISSUER NOT COOPERATING
Anokhi Pahel Enterprise LT Bk Fac - - Withdrawn
Aradhan Chemtech LT Bk Fac CARE B+ 60 -
ISSUER NOT COOPERATING
Ashwini Frozen Foods LT Bk Fac CARE D 1.5 -
ISSUER NOT COOPERATING
Ashwini Frozen Foods LT/ST Bk Fac CARE D 60 -
ISSUER NOT COOPERATING
Ava Apparels Llp LT/ST Bk Fac - - Withdrawn
Bell Flower Trading Company Pvt Ltd LT Bk Fac CARE BB+ 176.2 Revised from
CARE BB
[Enhanced from Rs.15.24 crore]
Bhaarathi Spintex India Pvt Ltd LT Bk Fac CARE BB 411.7 Revised from
CARE BB-
(reduced from 42.56 Crore)
Byrnihat Coal Pvt Ltd. LT Bk Fac CARE B 45 -
ISSUER NOT COOPERATING
Dhariwal Steel Pvt Ltd LT Bk Fac CARE B+ 50 Assigned
G L Metallica Pvt Ltd LT Bk Fac CARE BB- 93.7 -
ISSUER NOT COOPERATING
Globetrotters Educational InnoventionsLT Bk Fac CARE BBB- 97.7 Reaffirmed
Pvt Ltd
H.B. Ravi Kumar LT Bk Fac CARE BB 60 -
ISSUER NOT COOPERATING
Him Sagar Farm Fresh LT Bk Fac CARE B+ 128.5 Assigned
Indo Fabrics LT Bk Fac CARE BB 83.8 -
ISSUER NOT COOPERATING
Intron Life Sciences LT Bk Fac CARE BB 84.5 Assigned
Jewel Consumer Care Pvt Ltd LT Bk Fac CARE BB+ 314.3 Reaffirmed
(reduced from Rs.58.21 crore Crore)
Jewel Consumer Care Pvt Ltd LT/ ST Bk Fac CARE BB+/CARE 150 Revised from
A4+ CARE BB+/
CARE A4
(enhanced from Rs.7.50 crore Crore)
Kesoram Industries Ltd LT Bk Fac CARE A- 4300 -
Ratings continue on Credit watch with negative implications
Kesoram Industries Ltd Long/Shortterm Bk CARE A-/A2+ 13150 -
Fac
Ratings continue on Credit watch with negative implications
Maa Shitala Agro Pvt. Ltd. LT Bk Facility CARE BB- 117.4 Assigned
Madhavaram Constructions LT Bk Fac CARE B+ 150 Assigned
Maruti Infracreation Pvt Ltd LT Bk Fac CARE BB+ 70 -
ISSUER NOT COOPERATING
Maruti Infracreation Pvt Ltd LT/ST Bk Fac CARE BB+/A4+ 310 -
ISSUER NOT COOPERATING
Mdh Trucks Pvt Ltd LT Bk Fac CARE B 100 Assigned
Orient Paper & Industries Ltd LT Bk Fac CARE AA- 913.1 Revised from
CARE A
(reduced from 248.29 Crore) ,(Under Credit watch with Developing Implications) and removal of
credit watch
Orient Paper & Industries Ltd Long/ST Bk Fac CARE AA-/A1+ 1310 Revised from
CARE A/CARE A1
(reduced from 319.50 Crore) ,(Under Credit watch with Developing Implications) and removal of
credit watch
Ostro Kutch Wind Pvt Ltd LT Bk Fac CARE BBB 13800 Assigned
Pharmatech Process Equipments LT Bk Fac CARE BB 86 Reaffirmed
(enhanced from Rs.6.50 Crore)
Pratibha Fabrics Ltd LT BkFac CARE BBB 211.4 Revised from
BBB-
(reduced from Rs.21.39 crore Crore)
Punjab National Bank Perpetual Bonds CARE AA 21630 -
Placed on Credit Watch with DevelopingImplications
Punjab National Bank Upper Tier II BondsCARE AA 90000 -
Placed on Credit Watch with DevelopingImplications
Punjab National Bank Basel III CARE AA- 15000 -
Compliant
Perpetual Tier I Bonds
Placed on Credit Watch with DevelopingImplications
Punjab National Bank Infrastructure CARE AA+ 50000 -
Bonds
Placed on Credit Watch with DevelopingImplications
Punjab National Bank Basel III CARE AA+ 20000 -
Compliant Tier
IIBonds
Placed on Credit Watch with DevelopingImplications
Ra Chem Pharma Ltd LT Bk Fac @ CARE AA- (SO) 899 Reaffirmed
@ backed by the unconditional and irrevocable corporate guarantee provided by Micro Labs Limited
Raajratna Energy Holdings Pvt Ltd LT Bk Fac CARE BB+ 299.9 Reaffirmed
(reduced from 33.55 Crore) , removed
from Issuer not
cooperating
Raipur Power And Steel Ltd LT Bk Fac CARE BB 3326.5 Revised
fromCARE BBB
ISSUER NOT COOPERATING
Rajasthan Electronics & Instruments LT Bk Fac CARE BBB+ 100 Reaffirmed
Ltd
(Outlook revised from Positive to Stable)
Rajasthan Electronics & Instruments Long term/Short CARE BBB+/A3+ 350 Reaffirmed
Ltd termBk Fac
(Outlook revised from Positive to Stable)
Reddy Structures Pvt Ltd LT Bk Fac CARE BB+ 1011.6 Revised from
CARE BBB-
(reduced from 174.89 crore Crore) ,ISSUER NOT COOPERATING
Rr Fab Constructions LT Bk Fac CARE BB- 38 -
ISSUER NOT COOPERATING
Ruchi Soya Industries Ltd LT Bk Fac CARE D 34242.4 -
ISSUER NOT COOPERATING
Ruchi Soya Industries Ltd LT / ST Bk Fac CARE D 64909.5 -
ISSUER NOT COOPERATING
S.S.S. Rice Mill Pvt Ltd LT Bk Facility CARE BB- 161.5 Assigned
Samrat Plastic Industries LT Bk Fac CARE B+ 81.1 -
ISSUER NOT COOPERATING
Sdb Developers Pvt Ltd LT Bk Fac CARE BB+ 300 Revised from
CARE BB
(enhanced from 15.00 Crore)
Shree Constructions LT Bk Fac CARE B+ 40 Assigned
Shree Tatyasaheb Kore Warana Sahakari LT Bk Fac CARE BB 950 Revised from
Sakhar Karkhana Ltd CARE BB
ISSUER NOT COOPERATING
Shree Tatyasaheb Kore Warana Sahakari LT Bk Fac CARE BB 1533.6 Revised from
Sakhar Karkhana Ltd CARE BB
ISSUER NOT COOPERATING
Shree Tatyasaheb Kore Warana Sahakari LT/ST Bk Fac CARE BB/A4 4100 Revised from
Sakhar Karkhana Ltd CARE BB
ISSUER NOT COOPERATING
Shri Keshav Cements And Infra Ltd LT Bk Fac CARE BB- 457.3 Revised from
CARE BB
(enhanced from 11.75 Crore) ,ISSUER NOT COOPERATING
Sonata Ceramica Pvt Ltd LT Bk Fac - - Withdrawn
Step By Step Shiksha Samiti LT Bk Fac CARE BBB 175.9 Reaffirmed
The Clearing Corporation Of India Ltd Proposed CARE AAA(RPS) 500 Assigned
Non-Convertible
Cumulative Redeemable PS Issue
(Rupees Fifty crore only Crore)
The G V M C Public Health Employees LT Bk Fac CARE BB 100 -
Mutually Aided Thrift And Cooperative Credit Society Ltd
ISSUER NOT COOPERATING
Vaibhav Cotgin Pvt Ltd LT Bk Fac CARE B+ 135 Assigned
Vamsadhara Ginning And Pressing LT Bk Fac CARE B+ 50 Assigned
Industries
Varun Procon Pvt Ltd LT Bk Fac CARE BB+ 80 -
ISSUER NOT COOPERATING
Varun Procon Pvt Ltd LT/ST Bk Fac CARE BB+/A4+ 130 -
ISSUER NOT COOPERATING
Versant Online Solutions Pvt Ltd LT Bk Facility CARE B 29.5 -
ISSUER NOT COOPERATING
Vinnarasi Educational And Social LT Bk Fac CARE BB 75 Assigned
Service Trust
Well Wisher Trexim Pvt Ltd LT Bk Fac CARE BB+ 134 Revised from
CARE BB
[Enhanced from Rs.12.54 crore]
Yadav Tractor Company LT Bk Fac CARE B+ 34.3 Assigned
--------------------------------------------------------------------------------------------
$: 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)
