January 10, 2019 / 4:53 AM / 4 months ago

CARE ratings for Indian debt instruments-Jan 10

    Jan 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 9, 2019.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Arinsun Clean Energy Pvt Ltd          ST non-fund based  CARE A1+ (SO)  -       -
                                      Bk Fac~
Reaffirmed and final rating assigned
~Backed by unconditional and irrevocable Letter of Comfort (LOC) from PTC India Financial
Services Limited (PFS; rated CARE A+; Stable/ CARE A1+)    
Arinsun Clean Energy Pvt Ltd          ST non-fund based  CARE A1+ (SO)  -       Reaffirmed
                                      Bk Fac@
@Proposed to be backed by unconditional and irrevocable LOC from PTC India Financial Services
Limited (PFS; rated CARE A+; Stable/ CARE A1+). Further the provisional rating will be confirmed
once the company submits the executed copy of LOC to the satisfaction of CARE.    
Cheer Sagar Exports                   ST Bk Fac          CARE A4        19      Revised from
                                                                                CARE A4+
Issuer not cooperating; Based on best available information
Dharam Industries                     ST BkFac           CARE A4        16      -
Issuer not cooperating; Based on best available information
Dharam Stainless Steel Pvt Ltd        ST BkFac           CARE A4        55      -
Issuer not cooperating; Based on best available information
East India Packaging Pvt Ltd          ST Bk Fac          CARE A4+       4.1     Assigned
Excelsource International Pvt Ltd     ST Bk Fac          -              -       Withdrawn
Glochem Industries Pvt Ltd            ST Bk Fac          CARE A2        155     Reaffirmed
H. M. Patel And Company               ST Bk Fac          CARE A4        37      Reaffirmed
Iifl Management Services Ltd          CP (CP)            CARE A1+       500     Reaffirmed
Lazer India Pvt Ltd                   ST Bk Fac          -              -       Withdrawn
Mamata Machinery Pvt Ltd              ST Bk Fac          -              -       Withdrawn
M.B. Patil Constructions Ltd          ST Bk Fac          -              -       Withdrawn
Mani Square Ltd                       ST Bk Fac          CARE A4+       200     Revised from
                                                                                CARE A3
Munish Forge Pvt Ltd                  ST Bk Fac          CARE A4+       200     Reaffirmed
Pratibha Krushi Prakriya Ltd          ST Bk Fac          CARE A4        50      Revised from
                                                                                CARE A3+
Issuer not cooperating; Based on best available information
R. P. Steel Industries                ST Bk Fac          CARE D         100     Revised from
                                                                                CARE A4
R. L. Kalthia Ship Breaking Pvt Ltd   ST Bk Fac          CARE A3        950     Reaffirmed
Reliance Infrastructure Ltd           ST Bk Fac          CARE a4        6000    Revised from
                                                                                CARE A4
Issuer not cooperating; Based on best available information
Sri Annapurna Rice Industry           ST Bk Fac          CARE A4        35      Assigned
Terram Geosynthetics Pvt Ltd          ST Bk Fac          CARE A3+       80      Reaffirmed
Trendy Homewares                      ST Bk Fac          CARE A4+       25      Revised from
                                                                                CARE A3
Issuer not cooperating; Based on best available information
Uma Glass Works                       ST Bk Fac          -              -       Withdrawn

LONG TERM RATINGS:
-------------------
Art & Craft Inc                       LT / ST Bk Fac     -              -       Withdrawn
Ayan Foods                            LT Bk Fac          CARE B         55      Revised from
                                                                                CARE B+
Issuer not cooperating; Based on best available information
Cheer Sagar Exports                   LT Bk Fac          CARE BB        3       Revised from
                                                                                CARE BB+
Issuer not cooperating; Based on best available information
Cheer Sagar Exports                   LT/ST BkFac        CARE BB/A4     95      Revised from
                                                                                CARE BB+ /
                                                                                CARE A4+
Issuer not cooperating; Based on best available information
Dhanvantari Milk Products Pvt Ltd     LT Bk Fac          CARE BB        205.1   Revised from
                                                                                CARE BBB
Dharam Industries                     LT BkFac           CARE B         64      Revised from
                                                                                CARE B+
Issuer not cooperating; Based on best available information
Dharam Stainless Steel Pvt Ltd        LT BkFac           CARE B         5       Revised from
                                                                                CARE B+
Issuer not cooperating; Based on best available information
Dharam Stainless Steel Pvt Ltd        LT/ Shortterm Bk   CARE B/A4      10      Revised from
                                      Fac                                       CARE B+ /CARE
                                                                                A4
Issuer not cooperating; Based on best available information
East India Packaging Pvt Ltd          LT Bk Fac          CARE BB+       85.9    Assigned
Glochem Industries Pvt Ltd            LT Bk Fac          CARE BBB+      260     Reaffirmed
Glochem Industries Pvt Ltd            LT/ ST BkFac       CARE BBB+/A2   100     Reaffirmed
H. M. Patel And Company               LT Bk Fac          CARE B+        19      Reaffirmed
Highrise Facility Solutions Pvt Ltd   LT Bk Fac^         CARE B         -       Revised to
                                                                                CARE BB(SO)
Outlook is Stable and Rating Withdrawn ,^The above facilities are backed by unconditional and
irrevocable corporate guarantee from Omkar Realtors and Developers Private Limited (ORDPL).
J P Singhal & Company                 LT/STBk Fac        CARE BB-/A4    150     Assigned
Jr Toll Road Pvt. Ltd                 FB Fac (LT)^       CARE B (SO)    3890    -
Issuer not cooperating; Based on best available information
^Backed by unconditional and irrevocable corporate guarantee of Reliance Infrastructure Limited
(R-Infra)    
Lazer India Pvt Ltd                   LT Bk Fac          -              -       Withdrawn
M.B. Patil Constructions Ltd          LT Bk Fac          -              -       Withdrawn
Maadhav Automotive Fastners Pvt Ltd   LT BkFac           CARE B+        53      Revised from
                                                                                CARE BB-
Issuer not cooperating; Based on best available information
Mamata Machinery Pvt Ltd              LT/ ST Bk Fac      -              -       Withdrawn
Mani Square Ltd                       LT Bk Fac – LRD    -              -       Withdrawal
                                      Loan
Mani Square Ltd                       LT Bk Fac          CARE BB+       2435    Revised from
                                                                                CARE BBB-
Munish Forge Pvt Ltd                  LT Bk Fac          CARE BB+       300     Reaffirmed
Omkar Ventures Pvt Ltd                LT Bk Fac^         CARE B         -       Revised to
                                                                                CARE BB(SO)
Outlook is Stable and Rating Withdrawn ,^The above facilities are backed by unconditional and
irrevocable corporate guarantee from Omkar Realtors and Developers Private Limited (ORDPL).
Peekay Steel Castings Pvt Ltd         LT Bk Fac          CARE BBB+      930     Assigned
Peekay Steel Castings Pvt Ltd         LT/ST BkFac        CARE BBB+/A2   270     Assigned
Polyblend Colours Concentrate         LT Bk Fac          CARE BB-       52.5    Assigned
Pratibha Krushi Prakriya Ltd          LT Bk Fac          CARE BB        2027.8  Revised from
                                                                                CARE BBB
Issuer not cooperating; Based on best available information
Pratibha Milk Industries              LT Bk Fac          CARE BB        549.3   Revised from
                                                                                CARE BBB
Issuer not cooperating; Based on best available information
Precision Bearings Pvt Ltd            LT/ ST Bk Fac      CARE BB-/A4    200     Revised from
                                                                                CARE BBB /
                                                                                CARE A4
Issuer not cooperating; Based on best available information
Restoration Engineers                 LT Bk Fac          CARE A4        67.5    -
Issuer not cooperating; Based on best available information
R. L. Kalthia Ship Breaking Pvt Ltd   LT Bk Fac          CARE BBB-      30      Reaffirmed
R. P. Steel Industries                LT Bk Fac          CARE D         70      Revised from
                                                                                CARE B
R.S. Dream Land Pvt Ltd               LT Bk Fac          CARE B         120     Revised from
                                                                                CARE B+
Issuer not cooperating; Based on best available information
Rajeshree Industries India Pvt Ltd    LT Bk Fac          CARE B+        220     Revised from
                                                                                CARE BB-
Reliance Infrastructure Ltd           LT Bk Fac          CARE B         16543.8 Revised from
                                                                                CARE B
Issuer not cooperating; Based on best available information
Reliance Infrastructure Ltd           LT NCD 1           CARE B         2950    Revised from
                                                                                CARE B
Issuer not cooperating; Based on best available information
Reliance Infrastructure Ltd           LT NonConvertible  CARE B         6000    Revised from
                                      Debenture2                                CARE B
Issuer not cooperating; Based on best available information
Restoration Engineers                 LT/ ST Bk Fac      CARE BB-/A4    50      Revised from
                                                                                CARE BB /
                                                                                CARE A4
Issuer not cooperating; Based on best available information
Shavyaa Geotex                        LT Bk Fac          -              -       Withdrawn
Shavyaa Geotex                        LT/ST Bk Fac       -              -       Withdrawn
Shree Baalaji Milk And Milk Products  LT Bk Fac          CARE BB        502.9   Revised from
                                                                                CARE BBB
Issuer not cooperating; Based on best available information
Sri Annapurna Rice Industry           LT Bk Fac          CARE BB-       75      Assigned
Surana Developers (Wadala) Llp        LT Bk Fac^         CARE B         -       Revised to
                                                                                CARE BB(SO)
Outlook is Stable and Rating Withdrawn ,^The above facilities are backed by unconditional and
irrevocable corporate guarantee from Omkar Realtors and Developers Private Limited (ORDPL).
Tanuj Roshi Poultry Farm              LT Bk Fac          CARE B+        79      Assigned
Terram Geosynthetics Pvt Ltd          LT / STBk Fac      CARE BBB/A3+   100     Reaffirmed
Trendy Homewares                      LT Bk Fac          CARE BB+       15      Revised from
                                                                                CARE BBB-
Issuer not cooperating; Based on best available information
Trendy Homewares                      LT Bk Fac/ ST Bk   CARE BB+/A4+   15      Revised from
                                      Fac                                       CARE BBB /
                                                                                CARE A3
Issuer not cooperating; Based on best available information
Uma Glass Works                       LT Bk Fac          -              -       Withdrawn
--------------------------------------------------------------------------------------------
$: 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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