January 1, 2020 / 6:40 AM / 25 days ago

CARE ratings for Indian debt instruments-Jan 1

    Jan 1 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of December 31, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Accent Microcell Pvt Ltd              ST Bk Fac          CARE A3        125     Reaffirmed
(enhanced from 10.50 Crore)
Achiever Apparels Pvt Ltd             ST Bk Fac          CARE A4+       140     Assigned
Alfa Ica (India) Ltd                  ST Bk Fac          CARE A3        3       Reaffirmed

Allanasons Pvt Ltd                    ST Bk Fac          CARE A1+       22000   Reaffirmed
Annadata Rice Mill                    ST Bk Fac          CARE D         5.4
Revised from CARE A4+ ; (reduced from 0.66 Crore)
Captain Polyplast Ltd                 ST Bk Fac          CARE A4+       715
Revised from CARE A3 ; (enhanced from Rs.46.50 Crore)
Deepak Vegpro Pvt Ltd                 ST Bk Fac          CARE A3        50      Reaffirmed
Eswar Rubber Products Pvt Ltd         ST Bk Fac          CARE A4        22.5    Reaffirmed
Freewill Sports Pvt Ltd               ST Bk Fac          CARE A2+       30      Reaffirmed
Ganesh Grains Ltd                     ST Bk Fac          CARE A3        37.5    -
Issuer not Cooperating; Revised from CARE A2 ; Based on best available information
Gangadhar Jena                        ST Bk Fac          CARE A4        150
Revised from CARE A4+
Greenway Clothings India Pvt Ltd      ST Bk Fac          CARE A4;       113.7
Issuer not Cooperating; Based on best available information
Havells India Ltd                     Corporate          CARE CGR 2+    -       Reaffirmed
                                      Governance Rating
Lkp Infra Projects                    ST Bk Fac          CARE A4        39.5
Reaffirmed and removed from non-co-operation; (reduced from 2.50 crs)
M.S. Jewellers                        ST Fac             CARE A4;       20      -
Issuer not Cooperating; Based on best available information
Maithon Power Ltd                     CP Issue           CARE A1+       4500    Assigned
Mohindra Coaches (India) Pvt Ltd      ST Bk Fac          CARE A4        60
Reaffirmed and removed from Issuer Non Cooperation
Orient Craft Ltd                      ST Bk Fac          CARE A4+       7000
Revised from CARE A3+;
Pack Print Industries (India) Pvt Ltd ST Bk Fac          CARE A4+       45
Revised from CARE A4
Pallishree Ltd                        Long/ST Bk Fac     CARE A3+       4
Revised from CARE A2
Satyeshwar Himghar Pvt Ltd            ST Bk Fac          CARE D         1.8
Revised from CARE A4
Sainsons Paper Industries Pvt Ltd     ST Bk Fac-NonFund  CARE A3+       20      Reaffirmed
                                      Based
Seth Industrial Corporation           ST Bk Fac          CARE A3        550     Reaffirmed
(enhanced from 10.00 Crore)
Shoppers Stop Ltd                     CP Issue           -              -       Withdrawn
Spl Industries Ltd                    Short- term Bk Fac -              -       Withdrawn
                                      (BG)
Suven Life Sciences Ltd               ST Bk Fac - Fund   -              -
                                      Based
Reaffirmed at CARE A1 (Credit watch with Developing Implications) and Withdrawn
Suven Life Sciences Ltd               ST Bk Fac - Non    -              -
                                      Fund based
Reaffirmed at CARE A1 (Credit watch with Developing Implications) and Withdrawn
The State Trading Corporation Of IndiaST Bk Fac          CARE D         40000   -
Ltd
Issuer not Cooperating; Based on best available information
Usha Breco Ltd                        ST Bk Fac          CARE A2+       60      Reaffirmed
(enhanced from 1.00 Crore)
Vijay Solvex Ltd                      ST Bk Fac          CARE A3        830     Reaffirmed
(enhanced from Rs.73 Crore)
Vrp Telematics Pvt Ltd                ST Bk Fac          CARE A3        950     Reaffirmed
Western Carriers (India) Ltd          ST Bk Fac          CARE A3+       50      Reaffirmed

LONG TERM RATINGS:
-------------------
Accent Microcell Pvt Ltd              LT Bk Fac          CARE BBB-;     66      Reaffirmed
                                                         Stable
(reduced from 10.76 Crore)
Accent Microcell Pvt Ltd              LT/ short term Bk  CARE BBB-;     130     Reaffirmed
                                      Fac                Stable /CARE A3
(enhanced from 11.25 Crore)
Accord Udyog Pvt Ltd                  LT Bk Fac          CARE B; Stable 80      Reaffirmed
Alfa Ica (India) Ltd                  LT Bk Fac/ ST Bk   CARE BBB;      120     Reaffirmed
                                      Fac                Stable /CARE A3
Annadata Rice Mill                    LT Bk Fac          CARE D         92.2
Revised from CARE BB+; Stable; (reduced from 10.36 Crore)
B. K. Roy Pvt Ltd                     LT Bk Fac          CARE BBB+;     250
                                                         Stable
Revised from CARE A-; Stable
Balaji Speciality Chemicals Pvt Ltd   LT Bk Fac          CARE AA- (CE); 1189.4  Reaffirmed
                                                         Stable
(reduced from 125.00 Crore)
Balaji Speciality Chemicals Pvt Ltd   LT/ST Bk Fac       CARE AA- (CE); 500     Reaffirmed
                                                         Stable/CARE
                                                         A1+ (CE)
Biff And Bright Welfare Society       LT Bk Fac          CARE BB+;      131.2
                                                         Stable
Revised from CARE BBB-; Stable on the basis of best available information
Birbhum Chemicals And Fertilisers Ltd LT Bk Fac          CARE BBB+;     730
                                                         Stable
Revised from CARE A-; Stable
Bisui Poultry Pvt Ltd                 LT Bk Fac          CARE D         77
Revised CARE B+; Stable; Issuer not Cooperating ; (reduced from 8.75 Crore)
Brindavan Bottlers Pvt Ltd            LT Bk Fac (Fund    CARE BB+       200
                                      based)
Revised from CARE BBB; Issuer not Cooperating; Based on best available information
Brindavan Bottlers Pvt Ltd            LT Bk Fac (TL)     CARE BB+       614.5
Revised from CARE BBB; Issuer not Cooperating; Based on best available information
Captain Polyplast Ltd                 LT Bk Fac          CARE BB+;      205
                                                         Stable
Revised from CARE BBB-; Negative
Cosmopolitan Hospitals Pvt Ltd        LT Bk Fac          -              -       Withdrawn
Deepak Vegpro Pvt Ltd                 LT Bk Fac          CARE BBB-;     150     Reaffirmed
                                                         Stable
Deepak Vegpro Pvt Ltd                 LT/ST Bk Fac       CARE BBB-;     800     Reaffirmed
                                                         Stable/CARE A3
(enhanced from Rs.55 Crore)
Eswar Rubber Products Pvt Ltd         LT Bk Fac          CARE BB;       170
                                                         Stable
Revised from CARE BB-; Stable
Freewill Sports Pvt Ltd               LT Bk Fac          CARE A; Stable 352.1   Reaffirmed
(reduced from 36.48 Crore)
Ganesh Foods                          LT Bk Fac          CARE B; Stable 160     -
Issuer not Cooperating; Based on best available information
Ganesh Grains Ltd                     LT Bk Fac          CARE BBB-;     861.8   -
                                                         Stable
Issuer not Cooperating; Revised from CARE BBB+; Stable on the basis of best available
information
Gangadhar Jena                        LT Bk Fac          CARE BB+;      130     Reaffirmed
                                                         Stable
Generic Engineering Construction And  LT Bk Fac          CARE BBB;      180     Reaffirmed
Projects Ltd                                             Stable
Generic Engineering Construction And  LT/ST Bk Fac       CARE BBB;      240     Reaffirmed
Projects Ltd                                             Stable/CARE A3+
Gopal Shivhare                        LT Bk Fac          CARE D         50
“Issuer not Cooperating; Based on best available information”
Gopal Shivhare                        LT /ST Bk Fac      CARE D/CARE D  30
“Issuer not Cooperating; Based on best available information”
Greenway Clothings India Pvt Ltd      Long -term Bk Fac  CARE BB- Stable36.3    -
Issuer not Cooperating; Revised from CARE BB; Stable Based on best available information
Indip Industrial Parks (Vizag) Pvt LtdLT Bk Fac          CARE BBB-;     423.6
(Formerly Mn Industrial Parks Pvt Ltd)                   Stable
Revised from CARE BB+; Stable ; (Enhanced from 36.50 Crore)
Jagat Agro                            LT Bk Fac          -              -       Withdrawn
Kamla Shivhare                        LT Bk Fac          CARE D         47
“Issuer not Cooperating; Based on best available information”
Kamla Shivhare                        LT /ST Bk Fac      CARE D/CARE D  30
“Issuer not Cooperating; Based on best available information”
Laxminarayan Shivhare                 LT Bk Fac          CARE D         70
“Issuer not Cooperating; Based on best available information”
Laxminarayan Shivhare                 LT /ST Bk Fac      CARE D/CARE D  30
“Issuer not Cooperating; Based on best available information”
Lkp Infra Projects                    LT Bk Fac-         -
                                      Proposed Over
                                      Draft#
Withdrawn; #As confirmed by the management, the firm has not availed proposed overdraft facility
with any bank or financial institution.
Lkp Infra Projects                    LT Bk Fac          CARE B; Stable 41.4
Reaffirmed and removed from non-co-operation; (reduced from 5.59 crs)
Louroux Bio Energies Pvt Ltd          LT Bk Fac          CARE BBB+;     1745.6  Reaffirmed
                                                         Stable
(reduced from 190.65 Crore)
M.S. Jewellers                        Long -term Bk Fac  CARE B+; Stable45      -
Issuer not Cooperating; Revised from CARE BB- ; Stable on the basis of best available
information
Maithon Power Ltd                     LT Bk Fac- TL      CARE AA;       8601.7  Reaffirmed
                                                         Stable
(reduced from 1050.00 Crore)
Maithon Power Ltd                     NCDs (NCDs)        CARE AA;       5000    Reaffirmed
                                                         Stable
Mohindra Coaches (India) Pvt Ltd      LT Bk Fac          CARE B+;       25
                                                         Stable
Reaffirmed and removed from Issuer Non Cooperation
Mrt Signals Ltd                       LT Bk Fac          CARE A-;       150     Reaffirmed
                                                         Stable
(enhanced from 14 Crore)
Mrt Signals Ltd                       Long/ST Bk Fac     CARE A-;       970     Reaffirmed
                                                         Stable/CARE A2
(enhanced from 78 Crore)
Orient Craft Ltd                      LT Bk Fac          CARE BB+;      3678.6
                                                         Stable
Revised from CARE BBB; Stable
Pack Print Industries (India) Pvt Ltd LT Bk Fac          CARE BB+;      194.4
                                                         Stable
Revised from CARE BB; Stable
Pallishree Ltd                        LT Bk Fac          CARE BBB+;     759.2
                                                         Stable
Revised from CARE A-; Stable ; (reduced from Rs.76.66 Crore)
Reliance Diamond Tools                LT Bk Fac          CARE BB-;      95.6    Assigned
                                                         Stable
Rupa Dyeing And Printing Pvt Ltd      LT Bk Fac          CARE BBB-;     9.3     Reaffirmed
                                                         Stable
(reduced from 1.59 Crore)
Rupa Dyeing And Printing Pvt Ltd      LT/ ST Bk Fac      CARE BBB-;     40      Reaffirmed
                                                         Stable/CARE A3
Sadbhav Udaipur Highway Pvt Ltd       LT Bk Fac          CARE BBB+;     4270
                                                         Stable
Revised from CARE A-; Stable
Sainsons Paper Industries Pvt Ltd     LT Bk Fac-TL       CARE BBB+;     339.2   Reaffirmed
                                                         Stable
(enhanced from Rs.27.15 crores Crore)
Sainsons Paper Industries Pvt Ltd     LT Bk Fac-Fund     CARE BBB+;     270     Reaffirmed
                                      Based              Stable
(enhanced from Rs.22.00 crores Crore)
Sanjiv Prakashan                      LT Bk Fac          CARE BBB-;     141.7   Reaffirmed
                                                         Stable
Satyeshwar Himghar Pvt Ltd            LT Bk Fac          CARE D         114.2
Revised from CARE B; Stable; (Reduced from 12.19 Crore)
Seth Industrial Corporation           LT Bk Fac          CARE BBB-;     504.2
                                                         Negative
Reaffirmed; Outlook revised from Stable to Negative
Sharda Educational Trust              LT Bk Fac (TL)     -              -
Reaffirmed at CARE BBB-; Stable and Withdrawn
Sharda Educational Trust              Long- term Bk Fac  -              -       -
                                      (BG)
Sharda Educational Trust              Short- term Bk Fac -              -
                                      (Bk Overdraft)
Reaffirmed at CARE A3 and Withdrawn
Siderforgerossi India Pvt Ltd         LT Bk Fac          CARE BBB-;     300     Reaffirmed
                                                         Stable
(enhanced from 17.00 Crore)
Skipper Ltd                           LT Bk Fac          CARE BBB+;     5739.1
                                                         Stable
Revised from CARE A; Negative
Skipper Ltd                           LT/ST Bk Fac       CARE BBB+;     13920
                                                         Stable/CARE A2
Revised from CARE A; Negative/CARE A1
Spl Industries Ltd                    LT Bk Fac (TL)     -              -       Withdrawn
Spl Industries Ltd                    Short- term Bk Fac -              -       Withdrawn
                                      (EPC/PSC)
Suven Life Sciences Ltd               LT Bk Fac - TL     -              -       Withdrawn
Suven Life Sciences Ltd               LT Bk Fac – Fund   -              -
                                      based
Reaffirmed at CARE A (Credit watch with developing implications) and Withdrawn
The Gold Fort                         LT Bk Fac          CARE BB-;      70
                                                         Stable
Reaffirmed and revoked from Issuer not Cooperating
The State Trading Corporation Of IndiaLT Bk Fac          CARE D         20000   -
Ltd
Issuer not Cooperating; Based on best available information
Usha Breco Ltd                        LT Bk Fac          CARE A; Stable 1189.1  Reaffirmed
(reduced from 127.18 Crore)
Veritas Finance Pvt Ltd               LT Bk Fac          CARE BBB+;     6500    Reaffirmed
                                                         Stable
[enhanced from 400 CRS]
Vijay Solvex Ltd                      LT Bk Fac          CARE BBB-;     370     Reaffirmed
                                                         Stable
(enhanced from Rs.27 Crore)
Vinodsai Agricold Storage Llp         LT Bk Fac          CARE B+;       106.7   Reaffirmed
                                                         Stable
(Reduced from 11.50 Crore)
Vrp Telematics Pvt Ltd                LT Bk Fac          CARE BBB-;     450     Reaffirmed
                                                         Stable
Western Carriers (India) Ltd          LT Bk Fac          CARE BBB+;     1240    Reaffirmed
                                                         Stable
Yogakshemam Loans Ltd                 LT Bk Fac          CARE BBB-;     250     Reaffirmed
                                                         Stable
(enhanced from 15.00 Crore)
--------------------------------------------------------------------------------------------
$: 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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