January 17, 2019 / 5:12 AM / 3 months ago

CARE ratings for Indian debt instruments-Jan 17

    Jan 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 16, 2019.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agrow Allied Ventures Pvt Ltd         ST Bk Fac          CARE BB        241.9   Revised from
                                                                                CARE BB-
Alam Constructions                    ST Bk Fac          CARE BB-       60      Revised from
                                                                                CARE B+
Anand Arc Ltd                         ST Bk Fac          -              -       Withdrawn
Accurate Gauging And Instruments Pvt  ST BkFac           CARE A4+       40      -
Ltd.
Issuer not cooperating
A. R. Sulphonates Pvt. Ltd.           ST BkFac           CARE BBB+      590     Assigned
                                                         /CARE A3+
Abhiraj Engicon Pvt Ltd               ST BkFac           CARE BB-       67.5    -
Issuer not cooperating
A&D International Pvt Ltd             ST Bk Fac          -              -       Withdrawn
A. R. Sulphonates Pvt. Ltd.           ST Bk Fac          CARE A3+       390     Assigned
Flexible Abrasives Pvt Ltd            ST Bk Fac          CARE BB        131     Reaffirmed
(enhanced from Rs.7.23 crore Crore)
Jaideep Metallics & Alloys Pvt Ltd    ST Bk Fac          CARE B+        200     -
Issuer not cooperating
Jm Ferro & Alloy Pvt Ltd              ST Bk Fac          CARE D         120      -
Issuer not cooperating
Sabarkantha District Cooperative Milk ST Bk Fac          CARE AA+       6350    Reaffirmed
Producers Union Ltd
(enhanced from 380.00)
S. S. Overseas                        ST Bk Fac          CARE D         200     Revised from
                                                                                CARE BB-
S. S. Agro                            ST Bk Fac          CARE D         200     Revised from
                                                                                CARE BB-
Sprng Agnitra Pvt Ltd                 ST BkFac (LOC) ~   CARE A1 + (SO) 7500    Assigned
$ Short-term rating is Provisional and will be confirmed once the company submits the executed
copies of Letter of Comfort/Counter Guarantee to the satisfaction of CARE.,
~Sub-limit of the rated term loan of Rs.1036 crore. To be backed by proposed Letter of comfort/
Counter guarantee by L&T Finance Limited (LTF, rated CARE AAA; Stable/ CARE A1+) and L&T
Infrastructure Finance Company Limited (LTIFCL, rated CARE AAA; Stable/ CARE A1+) in the % share
of sanctioned term loan.
M. R. Enterprises                     ST Bk Fac          CARE BB-       20      Reaffirmed
Manu Electricals Pvt Ltd              ST Bk Fac          CARE BB        150     Assigned
Masturlal Fabrichem Pvt Ltd           ST Bk Fac          -              -       Withdrawn

LONG TERM RATINGS:
-------------------
A&D International Pvt Ltd             LT Bk Fac          -              -       Withdrawn
Abhiraj Engicon Pvt Ltd               LT Bk Fac          CARE A4        25      -
Issuer not cooperating
Agrow Allied Ventures Pvt Ltd         LT Bk Fac          CARE A4        105     Reaffirmed
Alam Constructions                    LT Bk Fac          CARE A4        100     Reaffirmed
(Enhanced from 6.00 Crore)
Apollo Animal Medical Group Trust     LT Bk Fac          CARE A4        50      -
Issuer not cooperating
Flexible Abrasives Pvt Ltd            LT Bk Fac          CARE A4        20      Reaffirmed
(enhanced from Rs.1.75 crore Crore)
Jaideep Metallics & Alloys Pvt Ltd    LT Bk Fac          CARE A4        55      -
Issuer not cooperating
M. R. Enterprises                     LT BkFac           CARE A4        100     Reaffirmed
Manu Electricals Pvt Ltd              LT Bk Fac          CARE A4        100     Assigned
Accurate Gauging And Instruments Pvt  LT BkFac           CARE BB+       22.2    -
Ltd.
Issuer not cooperating
Accurate Gauging And Instruments Pvt  Long/ST BkFac      CARE BB+/      40      -
Ltd.                                                     CARE A4+
Issuer not cooperating    
Aditya Chanakya Group                 LTBk Fac           CARE B+        60      -
Issuer not cooperating
Anand Arc Ltd                         Long/ ST Bk Fac    -              -       Withdrawn
Anand Arc Ltd                         LT Bk Fac          -              -       Withdrawn
Anna Bhau Ajara Taluka Shetkari SahkarLT Bk Fac          CARE BB-       118.5   -
Soot Girani Ltd
Issuer not cooperating
Astral Poly Technik Ltd               LT / ST Bk Fac     CARE AA        1419.2  Assigned
Astral Poly Technik Ltd               LT Bk Fac          CARE AA        6645    Assigned
Bhopal Switchgears Pvt Ltd            LT Bk Fac          -              -       Withdrawn
Blue Autoworld Pvt Ltd                LT Bk Fac (fund    CARE B+        -       Assigned
                                      based)
Chaizup Beverages Llp                 LT BkFac           CARE BB-       50      Assigned
D. S. Integrated Finsec Pvt Ltd       LT Bk Fac          CARE BB        185.1   Reaffirmed
(enhanced from Rs.9.66 crore Crore)
Daenerys Ifmr Capital 2017            Series A1 PTCs     -              -       Withdrawn
Daenerys Ifmr Capital 2017            Series A2 PTCs     -              -       Withdrawn
Datt Real Infra Pvt Ltd               LT Bk Fac          CARE BB-       90      Assigned
Deepak Cosmo Ltd                      LT Bk Fac          CARE BB        200     Assigned
Eversendai Construction Pvt Ltd       LT Bk Fac          CARE BBB-      4000    Reaffirmed
                                                         /CARE A3
Glass Build Industry                  LT Bk Fac          CARE B         90      Assigned
Jm Ferro & Alloy Pvt Ltd              LT Bk Fac          CARE D         75      -
Issuer not cooperating
Kamal Pressing Factory                LT Bk Fac          CARE B         50      Reaffirmed
Keemah Ifmr Capital 2018              Series A1 PTCs     -              -       Withdrawn
Keemah Ifmr Capital 2018              Series A2 PTCs     -              -       Withdrawn
Masturlal Fabrichem Pvt Ltd           Long/ ST Bk Fac    -              -       Withdrawn
Masturlal Fabrichem Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Mayuresh Protenz Pvt Ltd              LT Bk Fac          CARE B+        -       Reaffirmed
Parasmal Khasgiwala Memorial CharitablLT Bk Fac (TL)     CARE B         66      Assigned
Trust
Prakash Electrical Engineering        LT BkFac           CARE BB-       100     -
Corporation
Issuer not cooperating
Raheja Icon Entertainment Pvt Ltd     LT Bk Fac          CARE B (SO)    680     -
CARE has sought confirmation from the investor and debenture trustee on repayment and invocation
of Corporate Guarantee but no confirmation on the same has been received till date. 
Issuer not cooperating.
Reliance Big Entertainment Pvt Ltd    LT Bk Fac          CARE BB        400     Revised from
                                                                                CARE BBB-
Royal Alloys                          LT Bk Fac (FBL)    CARE B+        76.8    Assigned
Sabarkantha District Cooperative Milk LT Bk Fac          CARE AA+       1490.7  Reaffirmed
Producers Union Ltd
(enhanced from 144.07)
Som Autotech Pvt Ltd                  LT Bk Fac          CARE A4        97.1    -
Issuer not cooperating
S. S. Agro                            LT Bk Fac          CARE D         50      Revised from
                                                                                CARE A4
--------------------------------------------------------------------------------------------
$: 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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