February 3, 2020 / 9:18 AM / 24 days ago

CARE ratings for Indian debt instruments-Feb 3

    Feb 3  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of January 31, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bell Flower Trading Company Pvt Ltd   ST Bk Fac          -              -       Withdrawn
Best Dhall Mill                       ST Bk Fac          CARE A4+       100     Assigned
Best Pulses And Foods Llp             ST Bk Fac          CARE A4+       100     Assigned
Bs Ltd                                ST Bk Fac          -              0       Withdrawn
Diamond Exports – Panipat             ST Bk Fac-FB       -              -       Reaffirmed at
                                                                                CARE A4 and
                                                                                withdrawn
D Tamilrajan                          ST Bk Fac          CARE A4        50
(Issuer Not Cooperating)
Garg Industries Ltd                   ST Bk Fac          CARE A4        20
(Issuer Not Cooperating)
Harrsha Infra Projects Pvt Ltd        ST Bk Fac          CARE A4        50
(Issuer Not Cooperating)
Jindal Coke Ltd                       ST BkFac           CARE A3+       3250    Reaffirmed
                                      (Non-Fund Based)
Kamatchi And Co                       ST Bk Fac          CARE A4+       100     Assigned
R.B.S. Candiaparcar                   ST Bk Fac          CARE A4+       140     Reaffirmed
Radhika Opto Electronics Pvt Ltd      ST Bk Fac          CARE A4+       300     Reaffirmed
(enhanced from 22.00 Crore)
Radhu Products Pvt Ltd                ST BkFac           CARE A4        2       Revised from
                                                                                CARE A4
(Issuer Not Cooperating)
Rajiv Plastics Industries             LT / ST Bk Fac     CARE A4        8.5     Reaffirmed
Savino Granito Pvt Ltd                ST Bk Fac          CARE A4        35.6    Reaffirmed
Steel Impex And Industries            ST Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Spl Textile                           ST Bk Fac          CARE A4        127.5
(Issuer Not Cooperating)
Sri Balaji Timber Mart                ST Bk Facility     CARE A4        145
(Issuer Not Cooperating)
Sri Krishna Timber Mart & Saw Mill    ST Bk Fac          CARE A4        99.5
(Issuer Not Cooperating)

LONG TERM RATINGS:
-------------------
Advance Micro Fertilizers Pvt Ltd     LT Bk Fac          CARE BB+ Stable121.3   Revised from
                                                                                CARE BB Stable
(Enhanced from Rs6.25 crore Crore)
Bell Flower Trading Company Pvt Ltd   LT Bk Fac          -              -       Withdrawn
Best Dhall Mill                       LT Bk Fac          CARE BB+ Stable100     Assigned
Best Pulses And Foods Llp             LT Bk Fac          CARE BB+ Stable100     Assigned
Bhimashankar Agro Coldchain And       LT Bk Fac          CARE B Stable  51.2    Revised from
Processing Producer Co. Ltd                                                     CARE BB-
                                                                                Stable
(Issuer Not Cooperating)
Bs Ltd                                LT Bk Fac          -              0       Withdrawn
Bs Ltd                                LT/ST Bk Fac       -              0       Withdrawn
Chennai Petroleum Corporation Ltd     Proposed NCD issue CARE AAA Stable15000   Assigned
Coastal Gujarat Power Ltd             LT Bk Fac Total    CARE AA (CE)   2000&   Reaffirmed
                                      Fac                Stable
&the above ratings are based on credit enhancement in the form of unconditional and irrevocable
corporate guarantee from Tata Power Company Limited (TPCL, rated CARE AA; Stable). CARE has also
obtained legal opinion from Sterling Associates on the validity of the transaction and
structure.
D Tamilrajan                          LT Bk Fac          CARE BB- Stable50      Revised
                                                                                from CARE BB
                                                                                Stable
(Issuer Not Cooperating)
Fuletra Agro Food                     LT BkFac           CARE B+ Stable 40.1
(Issuer Not Cooperating)
Fuletra Agro Food                     LT/ Shortterm Bk   CARE B+        50
                                      Fac                Stable/CARE A4
(Issuer Not Cooperating)
Garg Industries Ltd                   LT Bk Fac          CARE B-        200     Revised
                                                                                fromCARE B+
                                                                                Stable
(Issuer Not Cooperating)
Harrsha Infra Projects Pvt Ltd        Long -term Bk Fac  CARE BB-Stable 57.5
(Issuer Not Cooperating)
Idea Telesystems Ltd                  LT Bk Fac          -              -       Withdrawn
Indian Sucrose Ltd                    LT Bk Fac          CARE BB Stable 1500    Reaffirmed
Jindal Coke Ltd                       LT BkFac (TL)      CARE BBB+      4204.1  Reaffirmed
                                                         Negative
Outlook revised from“stable” to Negative”
Jindal Coke Ltd                       LT BkFac (FB)      CARE BBB+      240     Reaffirmed
                                                         Negative
Outlook revised from“stable” to Negative”
Kailash Rice And General Mills        LT Bk Fac          -              -       Withdrawn*
*No dues certificate received from the Oriental Bank of Commerce
Kailash Rice And General Mills        LT Bk Fac          CARE B Stable  80      Reaffirmed
Kamatchi And Co                       LT Bk Fac          CARE BB+ Stable100     Assigned
Motel Nagpal Regency Pvt Ltd          LT Bk Fac          CARE BB- Stable65      Reaffirmed
Northern Arc 2018 Mfi                 Series A1 PTCs     -              -       Withdrawn
Aryaman
Originator: Sonata Finance Pvt
Ltd (Sfpl)
Northern Arc 2018 Mfi                 Series A2 PTCs     -              -       Withdrawn
Aryaman
Originator: Sonata Finance Pvt
Ltd (Sfpl)
Nsure Reliable Power Solutions Pvt LtdLT Bk Fac          -              -       Withdrawn
Parth Natural Stones Pvt Ltd          LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B Stable
                                                                                and Withdrawn
R.B.S. Candiaparcar                   LT Bk Fac          CARE BB+ Stable170     Reaffirmed
Radhika Opto Electronics Pvt Ltd      LT Bk Fac          CARE BB+Stable 360     Reaffirmed
(enhanced from 25.00 Crore)
Radhu Products Pvt Ltd                LT BkFac           CARE B+ Stable 49      Revised from
                                                                                CARE BB-Stable
(Issuer Not Cooperating)
Rajiv Plastics Industries             LT Bk Fac          CARE BB Stable 9       Reaffirmed
Rajiv Plastics Industries             LT/STBk Fac        CARE BB Stable 122.7   Reaffirmed
                                                         /CARE A4
Rattanindia Finance Pvt Ltd           CP issue           -              -       Withdrawn
Ridhi Sidhi Housing Pvt Ltd           LT Bk Fac          CARE BB+ Stable115     Reaffirmed
(enhanced from 5.05 Crore)
Ridhi Sidhi Housing Pvt Ltd           LT / ST Bk Fac     CARE BB+       180     Reaffirmed
                                                         Stable/CARE A4+
(enhanced from 8.00 Crore)
Savino Granito Pvt Ltd                Long- term Bk Fac  CARE BB- Stable164.1   Reaffirmed
(reduced from 19.98 Crore)
Sharvaya Metals Pvt Ltd               LT BkFac           CARE B+ Stable 129.2   Revised from
                                                                                CARE BB-Stable
(Issuer Not Cooperating)
Shine Textile                         LT Bk Fac          CARE BB- Stable125     Revised from
                                                                                CARE BB Stable
(Issuer Not Cooperating)
Shree Baba Exports                    LT Bk Fac          CARE B+ Stable 90
(Issuer Not Cooperating)
Shree Rishabhdev Marble And Minerals  LT Bk Fac          -              -       Reaffirmed at
Pvt Ltd                                                                         CARE B Stable
                                                                                and Withdrawn
Shree Tirupati Balajee Industries Pvt LT Bk Fac          CARE B+ Stable 179     Revised from
Ltd                                                                             CARE BB Stable
(Issuer Not Cooperating)
Shree Venkateshwara Food Industries   LT Bk Fac          CARE D         52.4    Revised from
                                                                                CARE B-Stable
Small Industries Development Bank Of  Unsecured Bonds    CARE AAA Stable344890# Reaffirmed
India
(Enhanced from Rs.20,439 Crore)# Reduction in rated amount by Rs.950 crore on account of call
option exercise of bonds.
Small Industries Development Bank Of  MSE Deposits /     CARE AAA Stable1055000 Reaffirmed
India                                 RIDF Deposits
(enhanced from Rs.1,05,000 Crore)
Small Industries Development Bank Of  CD program / CP    CARE AAA       460000  Reaffirmed
India                                                    Stable /CARE
                                                         A1+
(enhanced from Rs.40,000 Crore)
Sri Balaji Hospital                   LT Bk Fac          CARE B Stable  100
(Issuer Not Cooperating)
Sri Balaji Timber Mart                LT Bk Facility     CARE B+ Stable 25      Revised from
                                                                                CARE BB-
                                                                                Stable
(Issuer Not Cooperating)
Sri Krishna Timber Mart & Saw Mill    LT Bk Fac          CARE B Stable  12.5    Revised from
                                                                                CARE B+ Stable
(Issuer Not Cooperating)
Supreme Glazes Pvt Ltd                LT BkFac           CARE BB- Stable130.7   Reaffirmed
Trico Global Trades                   LT Bk Fac          -              0       Reaffirmed at
                                                                                CARE
                                                                                BB-Stable and
withdrawn
Uno Formulations                      LT Bk Fac          CARE B+ Stable 73      Reaffirmed
(reduced from 7.55 Crore)
Vry Logistic Park Llp                 LT Bk FacFund      CARE BB Stable 600     Assigned
                                      Based-TL
Vsv Vidyaa Mandir                     LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB and
                                                                                Withdrawn
Wadhawan Global Capital Ltd           NCD Issue          CARE C Stable  19000   Reaffirmed
Well Wisher Trexim Pvt Ltd            LT Bk Fac          -              -       Withdrawn
Wholesome Foods                       LT Bk Fac          CARE B; Stable 85.5    Reaffirmed
Wholesome Foods                       LT/ST BkFac        CARE B;        50      Reaffirmed
                                                         Stable/CARE A4
-------------------------------------------------------------------------------------------
$: 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)
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