January 14, 2020 / 7:40 AM / 14 days ago

CARE ratings for Indian debt instruments-Jan 14

    Jan 14 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 13, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Armaan Industries Pvt Ltd             ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4 and
                                                                                Simultaneously
                                                                                withdrawn
Ajanta Shoes (India) Pvt Ltd          ST Bk Fac          CARE A2+       35      Revised from
                                      (Non-Fund Based)                          CARE A1
(reduced from9.50 Crore)
Aklavya Industries Pvt Ltd            ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4 and
                                                                                Simultaneously  
                                                                                Withdrawn
Exclusive Steel & Casting Pvt Ltd     ST BkFac           CARE A4        5       -
Issuer did not cooperate; Based on best available information
Gajender Infratech Pvt Ltd            ST Bk Fac          CARE A4        26      Reaffirmed
J V Steel Tubes                       ST Bk Fac          CARE A4        20      Assigned
Lakshmi Vacuum Technologies Pvt Ltd   ST Bk Fac          CARE A4        105.9   -
Issuer did not cooperate; Based on best available information
Jay Kishan Fibre Pvt Ltd              ST BkFac           -              -       Withdrawn @
@ The Company has completely surrendered the limit and there are no outstanding under the same.
Taking cognizance of the fact, CARE has withdrawn the rating assigned to the above mentioned
short term bank facility.
Girdhar Tents Pvt Ltd                 ST Bk Fac          -              -       Withdrawn
Shri Venkatesh Udyog                  ST Bk Fac          -              -       -
CARE A4 and Withdrawn
Markwell International                ST Bk Fac          CARE A4        30      Reaffirmed
Piccolo Mosaic Ltd                    ST BkFac           CARE A3        5       -
Issuer did not cooperate; Based on best available information
Mukherjee Enterprise                  ST Bk Fac          -              -       CARE A4
Issuer Not Cooperating and Withdrawn
R. S. Infra Transmission Ltd          ST Bk Fac          -              -       Withdrawn
Miot Hospitals Pvt Ltd                ST BkFac           -              -       Withdrawn
(Reduced from 11.50 Crore)
New India Roadways                    ST Bk Fac          -              -       Reaffirmed &
                                                                                Withdrawn
Sri Ganapathy Enterprises             ST Bk Fac          CARE A4        7.5     -
Issuer did not cooperate; Based on best available information
Sri Pavithra Constructions            ST BkFac           CARE A4        100     -
Issuer did not cooperate; Based on best available information
Sunbeam Enterprises                   ST Bk Fac          CARE A4        50      Reaffirmed

LONG TERM RATINGS:
-------------------
Aastha Fashions Pvt Ltd               LT BkFac           -              -       Reaffirmed at
                                                                                CARE BB-
Ajanta Footcare (India) Pvt Ltd       Long / ST Bk Fac @ CARE A- (CE) / 65      Revised from
                                                         Stable/A2+ (CE)        CARE A
                                                                                (CE);Stable/
                                                                                 CARE A1 (CE)
(Credit Enhancement),@ Backed by unconditional and irrevocable corporate guarantee provided by
Ajanta Shoes (India) Pvt Ltd
Ajanta Shoes (India) Pvt Ltd          Long/ ST Bk Fac    CARE           300     Revised from
                                      (Fund/Non-Fund     A-/Stable/A2+          CARE A Stable
                                      Based)                                    /CARE A1
Ajanta Shoes (India) Pvt Ltd          LT Bk Fac (Fund    CARE A-Stable  290     Revised from
                                      Based)                                    CARE A Stable
(enhanced from 21.00 Crore)
Ajanta Shoes (India) Pvt Ltd          LT Bk Fac          CARE A-Stable  50      Revised from
                                      (Non-Fund Based)                          CARE A Stable
Aklavya Industries Pvt Ltd            LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB-
                                                                                Stable
Apical Exim Pvt Ltd                   LT/ST BkFac        -              -       Reaffirmed at
                                                                                CARE BB+
                                                                                Stable
Armaan Industries Pvt Ltd             LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB-
                                                                                Stable
Canara Goods Transport                LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B+Stable
D. C. Corporation                     LT Bk Fac          CARE BB/Stable 70      -
ISSUER NOT COOPERATING
Exclusive Steel & Casting Pvt Ltd     LT/ Shortterm Bk   CARE           115     -
                                      Fac                BB-/Stable/A4
ISSUER NOT COOPERATING
Gajender Infratech Pvt Ltd            LT Bk Fac          CARE BB/Stable 291.3   Reaffirmed
Girdhar Tents Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Goel Coal Sizing Pvt Ltd              LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB-
ISSUER NOT COOPERATING
Gokul Ginning & Oil Industries        LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B+
ISSUER NOT COOPERATING
Ishika Packaging Pvt Ltd              LT BkFac           CARE B/Stable  84.6    Revised from
                                                                                CARE B-
(reduced from 10.01 Crore),ISSUER NOT COOPERATING
J V Steel Tubes                       LT Bk Fac          CARE B+/Stable 105     Assigned
Jay Kishan Fibre Pvt Ltd              LT BkFac           CARE BB/Stable 172.1   Reaffirmed
(Increased from Rs.15.12 Crore)
Lakshmi Vacuum Heat Treaters Pvt Ltd  Long -term Bk Fac  CARE B+/Stable 53.7    Revised from
                                                                                CARE
                                                                                BB-;
                                                                                Stable
Issuer did not cooperate; Based on best available information
Lakshmi Vacuum Technologies Pvt Ltd   Long -term Bk Fac  CARE B+/Stable 50      Revised from
                                                                                CARE
                                                                                BB-;
                                                                                Stable
Issuer did not cooperate; Based on best available information
Logan Minerals Pvt Ltd                LT/ST BkFac        -              -       -
Reaffirmed at CARE BB+; Stable/ CARE A4+ and Withdrawn
Markwell International                LT BkFac           -              -       Withdrawn @
@ The Entity has completely surrendered the limit and there are no outstanding under the same.
Taking cognizance of the fact, CARE has withdrawn the rating assigned to the above mentioned
short term bank facility
Markwell International                LT / ST Bk Fac     CARE           70      Reaffirmed
                                                         BB/Stable/A4
outlook revised from Positive to Stable
Markwell Spinning Pvt Ltd             LT BkFac           CARE BB/Stable 527.8   Reaffirmed
(reduced from Rs.60.10 Crore)outlook revised from Positive to Stable
Markwell Spinning Pvt Ltd             LT/ ST Bk Fac      CARE           25      Reaffirmed
                                                         BB/Stable/A4
(reduced from Rs.3.75 Crore)outlook revised
from Positive to Stable
Metalfab Hightech Pvt Ltd             LT Bk Fac          --             -       Reaffirmed at
                                                                                CARE B+
outlook Stable and withdrawn
Metalfab Hightech Pvt Ltd             Long/ST Bk Fac     --             -       -
Reaffirmed at CARE B+Stable/ CARE A4 and withdrawn
Miot Hospitals Pvt Ltd                LT BkFac           CARE BBB/Stable2320.4  Revised from
                                                                                CARE BBB
(reduced from 243.90 Crore)
Miot Hospitals Pvt Ltd                LT BkFac           CARE BBB/Stable400     Revised from
                                                                                CARE BBB
(enhanced from 23.00 Crore)
Mukherjee Enterprise                  LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B+Stable
ISSUER NOT COOPERATING
New India Roadways                    LT Bk Fac          -              -       Reaffirmed &
                                                                                Withdrawn
Nhj Infra Pvt Ltd                     LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B Stable
ISSUER NOT COOPERATING
Nhj Infra Pvt Ltd                     Long /ST Bk Fac    -              -       CARE B;
                                                                                Stable/A4
ISSUER NOT COOPERATING and Withdrawn
Piccolo Mosaic Ltd                    LT BkFac           CARE           82.3    -
                                                         BBB-/Stable
Issuer did not cooperate; Based on best available information
Piccolo Mosaic Ltd                    LT /ST BkFac       CARE           125.1   -
                                                         BBB-/Stable/A3
Issuer did not cooperate; Based on best available information
Popular Stores                        LT Bk Fac          CARE B/Stable  64.2    -
ISSUER NOT COOPERATING
R. S. Infra Transmission Ltd          LT Bk Fac          -              -       Withdrawn
R. S. Infra Transmission Ltd          LT/ST Bk Fac       -              -       Withdrawn
Rsi Stone World Pvt Ltd               Long -Term Bk Fac  CARE BB+/Stable55.6    Assigned
Rsi Stone World Pvt Ltd               Long – Term        CARE           115.5   Assigned
                                      /Short- TermBk Fac BB+/Stable/A4+
Sayed Hifazat Ali                     Long -Term Bk Fac  -              -       -
Reaffirmed at CARE BB;Stable and withdrawn
Shri Venkatesh Udyog                  LT Bk Fac          -              -       -
Reaffirmed at CARE B+; Stable and Withdrawn
Sri Ganapathy Enterprises             LT Bk Fac          CARE BB-/Stable152.5   -
Issuer did not cooperate; Based on best available information
Sri Ganesh Jewellery Mart             LT Bk Fac          --             -       Withdrawn
Sri Pavithra Constructions            LT BkFac           CARE BB-/Stable50      -
Issuer did not cooperate; Based on best available information
Star Pcg Sme Series I Oct 19          Assignee Payouts   CARE AA (SO)   2574.5  Reaffirmed
Sunbeam Enterprises                   LT Bk Fac          CARE BB-/Stable33.3    Revised from
                                                                                CARE B+ Stable
Sunbeam Enterprises                   LT/ST Bk Fac       CARE           5       Revised from
                                                         BB-/Stable/A4          CARE B+;
                                                                                Stable
Vishwakarma Automotive Pvt Ltd        LT BkFac           CARE B+; Stable250     Revised
                                                                                fromCARE B+;
                                                                                Stable
Issuer Not Cooperating
Vivriti Tonks 02 2019                 Series A1 PTCs     -              -       Withdrawn
Vivriti Tonks 02 2019                 Series A2 PTCs     -              -       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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