February 6, 2020 / 4:36 AM / 13 days ago

CARE ratings for Indian debt instruments-Feb 6

    Feb 6  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of February 5, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Amanta Healthcare Ltd                 ST Bk Fac          CARE A4+       135.5   Reaffirmed
Bannari Amman Spinning Mills Ltd      ST Bk Fac          CARE A3+       1755    Reaffirmed
Eros Grand Resorts And Hotels Pvt Ltd Short -term Bk Fac CARE A4+       83      Revised from
                                                                                CARE A4+
(Issuer not cooperating; On the basis of best available information)
Global Energy Pvt Ltd                 FB - ST-Bills      CARE A4        300     -
                                      discounting/ Bills
                                      purchasing
(Issuer not cooperating; On the basis of best available information)
Global Energy Pvt Ltd                 Non-FB - STBGs     CARE A4        700     -
(Issuer not cooperating; On the basis of best available information)
Gujarat Cooperative Milk Marketing    CP (CP) issue      CARE A1+       8000    Reaffirmed
Federation Ltd
Haq Steels Pvt Ltd                    ST Bk Fac          CARE A4+       60      -
(Issuer not cooperating; On the basis of best available information)
Iraki Trading Company                 ST Bk Fac          CARE A4        75      Revised from
                                                                                CARE A4+
(Issuer not cooperating; On the basis of best available information)
Ju Agri Sciences Pvt Ltd              ST Bk Fac          CARE A3+       650     Reaffirmed
K.Radhakrishna Naik                   ST Bk Fac          CARE D         13.6    -
(Issuer not cooperating; On the basis of best available information)
Lic Mutual Fund Asset Management Ltd  LIC MF Overnight   CARE A1+mfs    -       Assigned
                                      Fund
Manika Moulds Pvt Ltd                 Short -term Bk Fac CARE A3+       10      Reaffirmed
Parekhplast India Ltd                 Short -term Bk Fac CARE A4        65      Reaffirmed
Pecc                                  ST Bk Fac          CARE A4+       20      Reaffirmed
Polo Industries Pvt Ltd               ST Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Raasvin Rubbers Pvt Ltd               ST Bk Fac          CARE A4        2       Reaffirmed
Ratnapriya Impex Pvt Ltd              ST Bk Fac          CARE A4+       600     Reaffirmed
S K Samanta & Company Pvt Ltd         Short -term Bk Fac CARE A2+       1800    Reaffirmed
St Woven Bags Pvt Ltd                 ST Bk Fac          CARE A4        30.1    Reaffirmed
Syrma Technology Pvt Ltd              ST Bk Fac          CARE A2        250     Revised from
                                                                                CARE A3+
Tarun Enterprise                      ST Bk Fac          CARE A4        75      Revised from
                                                                                CARE A4+
(Issuer not cooperating; On the basis of best available information)
Tata Communications Payment Solutions CP Issue^          Provisional    2000^   Revised from
Ltd                                                      CARE A1+(CE)           CARE A1+(CE)
^ to be backed by credit enhancement in the form of letter of comfort proposed to be extended by
TCL.
Tata Communications Payment Solutions CP Issue^          Provisional    500^    Reaffirmed
Ltd                                                      CARE A1+(CE)
^ to be backed by credit enhancement in the form of letter of comfort proposed to be extended by
TCL.
Telecommunications Consultants India LShort -term Bk Fac CARE A1        14020   Reaffirmed
Walwhan Renewable Energy Ltd          CP issue           CARE A1+       10000   Reaffirmed
Welspun Enterprises Ltd               CP                 CARE A1+       3000    Reaffirmed
Young Brand Apparel Pvt Ltd           Short -term Bk Fac CARE A3+ (CE)  300     Reaffirmed


MEDIUM TERM RATINGS:
-------------------
Amanta Healthcare Ltd                 Medium Term        CARE BB+ (FD); 80      Reaffirmed
                                      Instrument - Fixed Stable
                                      Deposit


LONG TERM RATINGS:
-------------------
A Prashanth                           Long -term Bk Fac  CARE B+; Stable187.4   Revised from
                                                                                CARE
                                                                                BB-;Stable
(Issuer not cooperating; On the basis of best available information)
Acute Retail Infra Pvt Ltd            LT Bk Fac – TL     -              -       Withdrawn
Ahmedabad District Cooperative Milk   LT Bk Fac          CARE AAA (CE)  1212    Reaffirmed
Producers’ Union Ltd                                     ; Stable
Amanta Healthcare Ltd                 LT Bk Fac          CARE BB+;      402.5   Reaffirmed
                                                         Stable
Aswathi Exports                       LT Bk Fac          CARE BB; Stable10      Reaffirmed
Aswathi Exports                       LT/ST Bk Fac       CARE BB;       75      -
                                                         Stable / A4
(Reaffirmed CARE BB Stable (Double B Outlook: Stable) and Revised from CARE A4+ (A Four Plus))
B.R. Oil Industries Pvt Ltd           LT Bk Fac          CARE BB; Stable80      Revised from
                                                                                CARE BB+;
                                                                                Stable
(Issuer not cooperating; On the basis of best available information)
Bannari Amman Spinning Mills Ltd      LT Bk Fac          CARE BBB+;     2376.9  Revised from
                                                         Negative               CARE BBB+
                                                                                Stable
Bannari Amman Spinning Mills Ltd      LT/ ST Bk Fac      CARE BBB+;     3320    Revised from
                                                         Negative/A3+           CARE BBB+
                                                                                Stable /A3+
Best Capital Services Ltd             Long -term Bk Fac  CARE BB+;      250     Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
Bhagyoday Cotton Industries           LT Bk Fac          CARE BB-;      255.2   Reaffirmed
                                                         Stable
D. C. Corporation                     LT Bk Fac          -              -       -
(Reaffirmed at CARE BB, outlook Stable: Issuer Not Cooperating (Double B, Outlook; Stable ISSUER
NOT COOPERATING) and withdrawn)
E-Homes Infrastructure Pvt Ltd        NCD issue          CARE BB+;      1830    Reaffirmed
                                                         Stable
Eros Grand Resorts And Hotels Pvt Ltd Long -term Bk Fac  CARE BB+;      50      Revised from
                                                         Stable                 CARE BB+;
                                                                                Stable
(Issuer not cooperating; On the basis of best available information)
Gr Sangli Solapur Highway Pvt Ltd     Long -term Bk Fac  CARE A; Stable 4438.5  Reaffirmed
Gupta Overseas Pvt Limite             LT Bk Fac          CARE B+; Stable82.4    Reaffirmed
Haq Steels Pvt Ltd                    LT Bk Fac          CARE BB+;      363.8   -
                                                         Stable
(Issuer not cooperating; On the basis of best available information)
Iraki Trading Company                 LT Bk Fac          CARE BB; Stable40      Revised from
                                                                                CARE BB+;
                                                                                Stable
(Issuer not cooperating; On the basis of best available information)
Ivrcl Chengapalli Tollways Lim        LT Bk Fac          CARE D         8619    -
(Issuer not cooperating; On the basis of best available information)
Ju Agri Sciences Pvt Ltd              LT Bk Fac          CARE BBB+;     950     Reaffirmed
                                                         Stable
K.Radhakrishna Naik                   LT Bk Fac          CARE D         50.2    -
(Issuer not cooperating; On the basis of best available information)
Kp Sanghvi & Sons Llp                 LT/ ST Bk Fac      CARE BBB+;     1880    Assigned
                                                         Stable/ A2
Kunvarji Warehousing And Logistics PvtLT Bk Fac          -              -       -
Ltd
(Reaffirmed at CARE BB+; Stable and simultaneously withdrawn)
Maharashtra Border Check Post Network LT Bk Fac - TL - I CARE A;        9803.4  Revised from
Ltd                                                      Negative               CARE A; Stable
Maharashtra Border Check Post Network LT Bk Fac - TL – IICARE A;        2200    Revised from
Ltd                                                      Negative               CARE A; Stable
Manika Moulds Pvt Ltd                 Long -term Bk Fac  CARE BBB+;     715.5   Reaffirmed
                                                         Stable
Nagpur Seoni Expressway Ltd           NCD issue          CARE AAA       1526.5  -
(Continues on Credit watch with Developing Implications)
P P Commodities                       LT Bk Fac          CARE B+; Stable60      Assigned
Parekhplast India Ltd                 Long -term Bk Fac  CARE BB; Stable339.7   Reaffirmed
Pecc                                  LT Bk Fac          CARE BB+;      60      Reaffirmed
                                                         Stable
Plastomet                             LT Bk Fac          CARE B+; Stable125.3   Reaffirmed
Polo Industries Pvt Ltd               LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Raasvin Rubbers Pvt Ltd               LT Bk Fac          CARE BB; Stable72.9    Reaffirmed
Radhasarveshwar Fibers                LT Bk Fac          -              -       -
(Revised at CARE BB-; Stable(Double B Minus; Outlook; Stable) from CARE BB; Stable(Double B;
Outlook: Stable) and withdrawn)
Ratnapriya Impex Pvt Ltd              LT Bk Fac          CARE BB; Stable30      Reaffirmed
Reliance Gas Pipelines Ltd            LT Bk Fac – TL     CARE AAA;      8250    Reaffirmed
                                                         Stable
Reliance Gas Pipelines Ltd            LT Bk Fac –        CARE AAA;      200     Reaffirmed
                                      Non-fund based - BGStable
Reliance Gas Pipelines Ltd            LT Bk Fac – Fund   CARE AAA;      500     Assigned
                                      based – Overdraft  Stable
S K Samanta & Company Pvt Ltd         Long -term Bk Fac  CARE A-; Stable200     Reaffirmed
Sadguru Poly Industries               LT Bk Fac          CARE B; Stable 71.4    Revised from
                                                                                CARE B+
(Issuer not cooperating; On the basis of best available information)
Sai Automobiles                       Long -term Bk Fac  CARE B; Stable 120     Revised from
                                                                                CARE B+;Stable
(Issuer not cooperating; On the basis of best available information)
Shri Shanker Gauri Agro Products Pvt  LT Bk Fac          CARE BB-;      230.1   Reaffirmed
Ltd                                                      Stable
Shri Vardhman Milk Dairy Pvt Ltd      LT Bk Fac          -              -       -
(Reaffirmed at CARE BB-; Stable(Double B Minus; Outlook; Stable) and withdrawn)
Siddagangaiah Rural Godow             LT Bk Fac          CARE B+; Stable70      Revised from
                                                                                CARE BB-;
                                                                                Stable
(Issuer not cooperating; On the basis of best available information)
St Woven Bags Pvt Ltd                 LT Bk Fac          CARE B+; Stable58.5    Reaffirmed
Syrma Technology Pvt Ltd              LT Bk Fac          CARE BBB+;     194.5   Revised from
                                                         Stable                 CARE BBB;
                                                                                Stable
Syrma Technology Pvt Ltd              LT/ ST Bk Fac      CARE BBB+;     750     Revised from
                                                         Stable / A2            CARE BBB;
                                                                                Stable/A3+
Tarun Enterprise                      LT Bk Fac          CARE BB; Stable40      Revised from
                                                                                CARE BB+;
                                                                                Stable
(Issuer not cooperating; On the basis of best available information)
Tata Housing Development Co. Ltd      Proposed NCD issue CARE AA; Stable13000   Assigned
Telecommunications Consultants India  Long -term Bk Fac  CARE A; Stable 3010    Revised from
Ltd                                                                             CARE A+;
                                                                                Stable
Vishakha Renewables Pvt Ltd           LT Bk Fac          CARE BBB-      361.9   Reaffirmed
                                                         (CE); Stable
Vishakha Renewables Pvt Ltd           LT / ST Bk Fac     CARE BBB-      80      Reaffirmed
                                                         (CE); Stable /
                                                         (CE)
Walwhan Renewable Energy Ltd          Long -term Bk Fac  CARE AA-;      1500    Reaffirmed
                                                         Stable
Welspun Enterprises Ltd               LT Bk Fac          CARE A+; Stable650     Revised from
                                                                                CARE AA-;
                                                                                Stable
Welspun Enterprises Ltd               LT / ST Bk Fac     CARE A+;       7500    Revised from
                                                         Stable/ A1+            CARE AA-;
                                                                                Stable/ A1+
Young Brand Apparel Pvt Ltd           Long -term Bk Fac  CARE BBB+      362.4   Revised from
                                                         (CE); Negative         CARE BBB+;
                                                                                Stable
Young Brand Apparel Pvt Ltd           LT/ ST Bk Fac      CARE BBB+      750     Revised from
                                                         (CE);                  CARE BBB+
                                                         Negative/ A3+          Stable /A3+
--------------------------------------------------------------------------------------------
$: 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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