January 16, 2020 / 9:14 AM / 13 days ago

CARE ratings for Indian debt instruments-Jan 16

   Jan 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 15, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Alok Buildtech Pvt Ltd                ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4+ and
                                                                                Withdrawn
Capron Vitrified Pvt Ltd              ST BkFac           CARE A4        30      Reaffirmed
G & L Profile And Equipment Pvt Ltd   ST BkFac           CARE A4        20      -
(ISSUER NOT COOPERATING)
Kataria Construction Pvt Ltd          ST Bk Fac          CARE A4        50      Reaffirmed

Tata Teleservices (Maharashtra) Ltd   CP issue           CARE A1+       75000   Reaffirmed
(enhanced from 5,500.00 Crore)
Tata Teleservices Ltd                 CP (CP) issue      CARE A1+       85000   Reaffirmed
(enhanced from 3,000.00 Crore)
Shraddha Impex                        Short -Term Bk Fac -              -       Reaffirmed at
                                                                                CARE A4 and
                                                                                withdrawn
LONG TERM RATINGS:
-------------------
Adani Ports And Special Economic Zone NCDs (Proposed) – ICARE AA+;      7500    Reaffirmed
Ltd                                                      Stable
Adani Ports And Special Economic Zone NCDsIssue – II *   CARE AA+;      400     Reaffirmed
Ltd                                                      Stable
*backed by the escrow of entire receivables of Indian Oil Corporation Ltd for 
 the single point mooring (SPM) facility of APSEZ; ‘Structured Obligation’ (SO) 
 removed in September 2019 pursuant to SEBI circular dated June 13, 2019
Agrasenprime Overseas Pvt Ltd         LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB;
                                                                                Stable and 
                                                                                withdrawn
Agrasenprime Overseas Pvt Ltd         LT/ST Bk Fac       -              -       Reaffirmed at
                                                                                CARE BB;
                                                                                Stable/
                                                                                CARE A4 
                                                                                and 
                                                                                withdrawn
Alok Buildtech Pvt Ltd                LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB+;
                                                                                Stable 
                                                                                and 
                                                                                withdrawn
Babli Warehouse                       LT BkFac           CARE D         55.7    Revised form
                                                                                CARE B; Stable
(ISSUER NOT COOPERATING)
Blue Star Engineering & Electronics Ltd CP               -              -       Withdrawn
Capron Vitrified Pvt Ltd              LT BkFac           CARE BB-;      236.7   Reaffirmed
                                                         Stable
(reduced from 26.63 Crore)
Crest Merchandise Pvt Ltd             LT/ST Bk Fac       CARE BB-       250     Revised from
                                      (FD/Non FB)        Stable/CARE A4         CARE BB+;
                                                                                Stable/CARE A4+;
(ISSUER NOT COOPERATING)
Eon Electric Ltd                      LT Bk Fac          CARE D;        400     Revised from
                                                                                CARE C;
                                                                                Stable;
(ISSUER NOT COOPERATING)
Eon Electric Ltd                      Long/ST Bk Fac     CARE D;        550     Revised from
                                                                                CARE C;
                                                                                Stable;
(ISSUER NOT COOPERATING)
G & L Profile And Equipment Pvt Ltd   Issuer Rating*     CARE BB (Is);  -       -
                                                         Stable;
                                                         ISSUER NOT CO-OPERATING* 
 * The rating is subject to the company maintaining overall gearing not exceeding 1.79 times.
G & L Profile And Equipment Pvt Ltd   LT Bk Fac          CARE BB; Stable130     -
(ISSUER NOT COOPERATING)
Icici Home Finance Co. Ltd            Senior Bonds       -              -       Withdrawn
Irb Invit Fund                        LT Bk Fac-TL       CARE AAA;      14898.4 Reaffirmed
                                                         Stable
Irb Invit Fund                        LT Bk Fac-TL       CARE AAA;      14898.4 Reaffirmed
                                                         Stable (Triple
                                                         A; Outlook: Stable)
Kataria Construction Pvt Ltd          LT/ST BkFac        CARE BB-;      25      Reaffirmed
                                                         Stable/CARE A4
Mahalaxmi Vidyut Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Mahesh Oil Industries                 LT Bk Fac          CARE BB+;      475.6   Reaffirmed
                                                         Stable
Om Smelters And Rollers Pvt Ltd       LT BkFac           CARE B+;       76      -
                                                         Stable;
(ISSUER NOT COOPERATING)
Paradise Lifespaces Llp               LT Bk Fac          CARE BB-       2000    -
(ISSUER NOT COOPERATING)
Shree Mahesh Oil Products             LT Bk Fac          -              -       Withdrawn
Shuru Stones Llp                      LT BkFac           -              -       Reaffirmed at
                                                                                CARE B
Swarna Industries Ltd                 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@refinitiv.com)
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