January 6, 2020 / 10:51 AM / 2 months ago

CARE ratings for Indian debt instruments-Jan 6

    Jan 6 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 3, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A C Polycoaters Pvt Ltd               ST Bk Fac          CARE A4        4       -
Issuer not cooperating; Based on best available information
Amarsagar Seafoods Pvt Ltd            ST Bk Fac          CARE A3        220     Reaffirmed
(enhanced from Rs.18.50 Crore)
Anm Pharma Pvt Ltd                    ST Non-fund based- CARE A1+ (CE)  720     Assigned
                                      LC/ BG
Aro Granite Industries Ltd            ST Bk Fac          CARE A3        1210    Reaffirmed
Asm Traxim Pvt Ltd                    ST Bk Fac          CARE A4        50      Reaffirmed
Automat Industries Pvt Ltd            ST Bk Fac          CARE A2        20
Revised from CARE A3+
Automat Irrigation Pvt Ltd            ST Bk Fac          CARE A2        77      Reaffirmed
Axiscades Engineering Technologies LtdST Bk Fac          CARE A3        63      Reaffirmed
Balaji Formalin Pvt Ltd               ST Bk Fac          CARE A3+       15      Reaffirmed
(reduced from Rs.2.70 Crore)
Balaji Malts Pvt Ltd                  ST Bk Fac          CARE A3+       590     Assigned
Bannari Amman Sugars Ltd              ST Bk Fac          CARE A1+       3100    Reaffirmed
(enhanced from 307.50 Crore)
Carbon Edge Industries Ltd            ST Bk Fac          CARE A3        10      Reaffirmed
Ceres Hotels Pvt Ltd                  ST Bk Fac (Fund    CARE A3+       -       Reaffirmed
                                      Based)
Chaitanya India Fin Credit Pvt Ltd    ST Bk Fac          CARE A3        1210    Reaffirmed
Christina Finance And Investments Ltd ST Bk Fac          CARE A4        60
Revised from CARE A4+
Deekay Impex                          ST Bk Fac#         CARE A4        130     Reaffirmed
# Reclassified from LT/ST to ST
Deekay Pine Board Pvt Ltd             ST Bk Fac @        CARE A4        140     Reaffirmed
@ Reclassified from LT/ST to ST
Diehard Dies Pvt Ltd                  ST Bk Fac          CARE A4        8       Reaffirmed
Ellenbarrie Industrial Gases Ltd      ST Bk Fac          -              -       Withdrawn
Fine Wood Products Pvt Ltd            ST Bk Fac          CARE A3        200     Reaffirmed
(enhanced from 15.10 Crore)
I - Design Engineering Solutions Ltd  ST Fac             CARE A3 (CE) * 30      Reaffirmed
(reduced from 4.00 Crore); *backed by unconditional and irrevocable guarantee of RSB
Transmission (I) Ltd
Indian Oil-Adani Gas Pvt Ltd          ST Bk Fac          CARE A2+       2150    Reaffirmed
Jade Blue Lifestyle India Ltd         ST Bk Fac          CARE A2        70      Reaffirmed
Jyothy Labs Ltd                       CP                 CARE A1+       1000    Reaffirmed
Kanyaka Parameshwari Engineering Ltd  ST Bk Fac          CARE A3+       410     Reaffirmed
Kunal Structure (India) Pvt Ltd       ST Bk Fac          CARE A2+       138     Assigned
Manaksia Coated Metals & Industries LtST Bk Fac          CARE A4        850     -
Issuer Not Cooperating; Revised from CARE A3 on the basis of best available information
Meril Diagnostics Pvt Ltd             ST Bk Fac          CARE A1+ (CE)  150     Reaffirmed
(Enhanced from Rs.10.00 Crore)
Meril Healthcare Pvt Ltd              ST Bk Fac          CARE A1+ (CE)  250     Reaffirmed
Meril Life Sciences India Pvt Ltd     ST Bk Fac          CARE A1+ (CE)  170     Reaffirmed
Meril Life Sciences Pvt Ltd           ST Bk Fac          CARE A1+ (CE)  160     Reaffirmed
Meril Life Sciences Pvt Ltd           CP (CP)Issue       CARE A1+ (CE)  250     Reaffirmed
Meril Life Sciences Pvt Ltd           CP (CP) Issue      Prov-CARE A1+  250     Assigned
                                                         (CE)
Munish Forge Pvt Ltd                  ST Bk Fac          CARE A4+       225     Reaffirmed
Oshina Expo Pvt Ltd                   ST Bk Fac          CARE A4        10      Reaffirmed
Oswal Lumbers Pvt Ltd                 ST Bk Fac          CARE A4        200     Reaffirmed
Pasupati Acrylon Ltd                  ST Bk Fac          CARE A2        2050    Reaffirmed
Piyanshu Chemicals Pvt Ltd            ST Bk Fac          CARE A2        110     Reaffirmed
Pratishna Engineers                   ST Bk Fac          CARE A4        32      Reaffirmed
Profand Vayalat Marine Exports Pvt LtdST Bk Fac          CARE A4+       600     Assigned
R.R.Engineering Company               ST Bk Fac          CARE A4        35      Reaffirmed
Refracast Metallurgicals Pvt. Ltd.    ST Bk Fac          CARE A4        20      Reaffirmed
Rishi Fibc Solutions Pvt Ltd          ST Bk Fac          CARE A1        150     Reaffirmed
Rsb Transmissions (I) Ltd             ST Bk Fac          CARE A3        455     Reaffirmed
S.V.Sivalinga Nadar & Sons            ST Bk Fac          CARE A4+       300     Reaffirmed
Smith Industrial Corporation Pvt Ltd  ST Bk Fac          CARE A3        15      Reaffirmed
Sona Wires Pvt. Ltd.                  ST Bk Fac          CARE A4        2.7
Revised from CARE D
Sonal Fabricators Pvt Ltd             ST Bk Fac          CARE A4        25.2    -
Issuer not cooperating; Based on best available information
Src Projects Pvt Ltd                  ST Bk Fac          CARE A3        250     Reaffirmed
Sri Lakshminarasimha Electricals      ST Bk Fac          CARE A4        135     Assigned
Sutlej Textiles & Industries Ltd      Non-Fund           CARE A1+       450     -
                                      Based-ST-LC/ BG
Sutlej Textiles & Industries Ltd      CP Issue*          CARE A1+       3000    Reaffirmed
*Carved out of working capital limits
Teeknits                              ST Bk Fac          CARE A4        74      -
Issuer not cooperating, Based on best available information
The Rajlakshmi Cotton Mills Pvt Ltd   ST Bk Fac          CARE A3        380     -
Thomson Press India Ltd               ST Bk Fac          CARE A2+       250     Reaffirmed
Trishul Construction Company          ST Bk Fac          CARE A4        30
“Issuer not cooperating; Based on best available information”
Vee Kay Vikram & Co Llp               ST Bk Fac          CARE A3+       90      Reaffirmed
(enhanced from 7 Crore)
Vishvaraj Infrastructure Ltd          ST Bk Fac          CARE A4+       750     -
Issuer not cooperating; Revised from CARE A3 on the basis of best available information
Vizag Hospital And Cancer Research    ST Bk Fac          CARE A3        1.2     Reaffirmed
Centre Pvt Ltd

LONG TERM RATINGS:
-------------------
A C Polycoaters Pvt Ltd               LT Bk Fac          CARE B; Stable 60      -
Issuer not cooperating; Revised from CARE B+; Stable on the basis of best available information
Ahan Add-Chem Pvt Ltd                 LT Bk Fac          CARE B+; Stable168.7   Reaffirmed
(reduced from 18.10 Crore)
Aishwarya Construction                LT Bk Fac          CARE B+; Stable495     Assigned
Ajay Landmark Pvt Ltd                 LT Bk Fac          CARE C; Stable 57.5
Revised from CARE B; Stable
Akash Spinning Mills                  LT Bk Fac          CARE BB; Stable142.6   Assigned
Amarsagar Seafoods Pvt Ltd            LT Bk Fac          CARE BBB-;     19.8    Reaffirmed
                                                         Stable
(reduced from Rs.3.98 Crore)
Amophil Chemicals Pvt Ltd             LT Bk Fac          CARE BB-;      197.1
                                                         Negative
Ratings Reaffirmed; outlook revised from Stable to Negative (reduced from 22.90 Crore)
Anant Steels Pvt Ltd                  LT Bk Fac          CARE BB;       60      Reaffirmed
                                                         Stable
Anm Pharma Pvt Ltd                    LT Bk Fac Fund     CARE AA (CE);  280     Assigned
                                      Based-CC           Stable
Aravali Transmission Service Co. Ltd  LT Bk Fac          CARE A; Stable 225     Reaffirmed
Aris Capital Pvt Ltd                  LT Bk Fac          CARE BB;       644.7
                                                         Negative
Revised from CARE BB+; Stable
Aro Granite Industries Ltd            LT Bk Fac          CARE BBB-;     389.9   Reaffirmed
                                                         Stable
(reduced from Rs.40.05 Crore)
Artemis Auto India Pvt Ltd            LT Bk Fac          CARE BB; Stable145     -
Issuer not cooperating; Based on best available information
Asm Traxim Pvt Ltd                    LT Bk Fac          CARE B+; Stable450
Revised from CARE BB; Stable
Atria Power Corporation Pvt Ltd       LT Bk Fac          CARE BBB+;     75      Reaffirmed
                                                         Stable
(reduced from 10.25 Crore)
Automat Industries Pvt Ltd            LT Bk Fac          CARE A-; Stable80
Revised from CARE BBB; Stable
Automat Irrigation Pvt Ltd            LT Bk Fac          CARE A-; Stable643
Revised from CARE BBB+; Stable
Avinash Associates                    LT Bk Fac          CARE B; Stable 65      -
Issuer not cooperating; Revised from CARE B+; Stable on the basis of best available information
Axiscades Engineering Technologies LtdLT Bk Fac          CARE BBB;      334.2
                                                         Stable
Revised from CARE BBB; Negative (reduced from 38.58 Crore)
Axiscades Engineering Technologies LtdLong/ ST Bk Fac    CARE BBB;      650
                                                         Stable/CARE A3
LT rating revised from CARE BBB; Negative , ST term rating reaffirmed
Balaji Formalin Pvt Ltd               LT Bk Fac          CARE BBB;      714     Reaffirmed
                                                         Stable
(reduced from Rs.78.00 Crore)
Balaji Malts Pvt Ltd                  LT Bk Fac          CARE BBB;      260
                                                         Stable
Revised from CARE BBB-; Stable
Bannari Amman Sugars Ltd              LT Bk Fac          CARE A+; Stable5645    Reaffirmed
(enhanced from 514.00 Crore)
Bannari Amman Sugars Ltd              LT / ST Bk Fac     CARE A+;       154     Reaffirmed
                                                         Stable /CARE
                                                         A1+
Bharat Industrial Works (Bhilai) Pvt LLT Bk Fac          -              -       Withdrawn
Bharat Industrial Works (Bhilai) Pvt LLong/ ST Bk Fac    -              -       Withdrawn
Bindu Jewellery                       LT Bk Fac          CARE BB-;      100     Reaffirmed
                                                         Stable
Carbon Edge Industries Ltd            LT Bk Fac          CARE BBB;      200     Reaffirmed
                                                         Stable
Carbon Edge Industries Ltd            LT/ ST Bk Fac      CARE BBB;      500     Reaffirmed
                                                         Stable/CARE A3
Ceres Hotels Pvt Ltd                  LT Bk Fac (TL)     CARE BBB+;     2060    Reaffirmed
                                                         Stable
(reduced from Rs.250 Crore)
Ceres Hotels Pvt Ltd                  LT Bk Fac (Fund    CARE BBB+;     -       Reaffirmed
                                      Based)             Stable
Chaitanya India Fin Credit Pvt Ltd    LT Bk Fac          CARE BBB-;     389.9   Reaffirmed
                                                         Stable
(reduced from Rs.40.05 Crore)
Darpan Jewels (Gujarat) Llp           LT/ ST Bk Fac      CARE BBB-;     300     Reaffirmed
                                                         Stable/CARE A3
Deekay Impex                          LT Bk Fac          CARE BB-;      15      Reaffirmed
                                                         Stable
Deekay Pine Board Pvt Ltd             LT Bk Fac #        CARE BB-;      60      Reaffirmed
                                                         Stable
# Reclassified from Non fund based (NFB) to Fund based (FB)
Devi Chand And Sons                   LT Bk Fac          CARE BB-;      74.2    -
                                                         Stable
Issuer not cooperating; Revised from CARE BB; Stable on the basis of best available information
Dhanlaxmi Bank Ltd                    Lower Tier II Bonds-              -       Withdrawn
Dhanlaxmi Bank Ltd                    Upper Tier II      CARE BB;       275     Reaffirmed
                                      Bonds              Stable
Dhanlaxmi Bank Ltd                    Tier II Bonds      CARE BB+;      1500    Reaffirmed
                                      (BASEL III         Stable
                                      Compliant)
Diehard Dies Pvt Ltd                  LT Bk Fac          CARE BB; Stable106.7
Reaffirmed; (reduced from 12.00 Crore)
Ellenbarrie Industrial Gases Ltd      LT Bk Fac          -              -       Withdrawn
Emerald Heights Academy & Realty Pvt LLT Bk Fac          CARE BB+;      233.9   Reaffirmed
                                                         Stable
Epsilon Carbon Pvt Ltd                LT Bk Fac-TL       CARE A-;       3562.1
                                                         Negative
Rating Reaffirmed; Outlook revised from Stable to Negative (enhanced from Rs.97.05 Crore)
Epsilon Carbon Pvt Ltd                LT Bk Fac-WCTL     CARE A-;       157.5
                                                         Negative
Rating Reaffirmed; Outlook revised from Stable to Negative (reduced from Rs.23.67 Crore)
Epsilon Carbon Pvt Ltd                LT/ ST Bk Fac fund CARE A-;       250
                                      based/ non-fund    Negative/CARE
                                      based              A2
Rating Reaffirmed; Outlook revised from Stable to Negative
Fine Wood Products Pvt Ltd            LT Bk Fac          CARE BBB-,     120     Reaffirmed
                                                         Stable
(reduced from 17.90 Crore)
Gacl-Nalco Alkalies & Chemicals Pvt LtLT Bk Fac          CARE A; Stable 14000   Reaffirmed
Garg Spinning Mills                   LT Bk Fac          CARE BB; Stable140.9   Assigned
Gm Infinite Dwellings (India) Pvt Ltd LT Bk Fac          -              -       Withdrawn
Greater Hyderabad Municipal CorporatioBond Issue         CARE AA; Stable4950    Reaffirmed
Greater Hyderabad Municipal CorporatioProposed Bond      Prov-CARE AA;  5050    Reaffirmed
                                      Issue*             Stable
*The rating is provisional and will be confirmed once the entity submits the transaction
documents to the satisfaction of CARE
Hcl It City Lucknow Pvt. Ltd.         LT Bk Fac – TL     CARE AAA       3860    Reaffirmed
                                                         (CE)*; Stable
*The above ratings are based on the credit enhancement in the form of unconditional, absolute &
irrevocable corporate guarantee provided by M/s Vama Sundari Investments (Delhi) Pvt Ltd
(VSIDPL).
Hcl It City Lucknow Pvt. Ltd.         LT/ ST Bk Fac –    CARE AAA(CE)*; 820     Reaffirmed
                                      Non Fund Based     Stable/CARE
                                                         A1+ (CE)*
*The above ratings are based on the credit enhancement in the form of unconditional, absolute &
irrevocable corporate guarantee provided by M/s Vama Sundari Investments (Delhi) Pvt Ltd
(VSIDPL).
I - Design Engineering Solutions Ltd  LT Fac             CARE           0.3     Reaffirmed
                                                         BB+;Stable
I - Design Engineering Solutions Ltd  LT Fac             CARE BBB (CE); 30.4    Reaffirmed
                                                         Stable *
*backed by unconditional and irrevocable guarantee of RSB Transmission (I) Ltd
Idbi Asset Management Ltd.            IDBI ST Bond Fund  CARE AAAmfs    -
Revised from CARE A+mfs
Indian Oil-Adani Gas Pvt Ltd          LT Bk Fac          CARE A-; Stable12460.6 Reaffirmed
Jade Blue Lifestyle India Ltd         LT Bk Fac          CARE A-; Stable621.4
Reaffirmed; Outlook revised from Negative to Stable ; (reduced from Rs.73.79 Crore)
Jaora Nayagaon Toll Road Company Pvt LLT Bk Fac          CARE AA-;      3673.6  Reaffirmed
                                                         Stable
(reduced from 438.21 Crore)
Jyothy Fabricare Services Ltd         NCD issue          CARE AA        600     Reaffirmed
Jyothy Labs Ltd                       LT Bk Fac          CARE AA; Stable3803.5  Reaffirmed
(Reduced from Rs.400 Crore)
Kamarajar Port Ltd                    TFBs issue-I       CARE AA;       946.5   Reaffirmed
                                                         Positive
Kamarajar Port Ltd                    TFBs issue-II      CARE AA;       3654.7  Reaffirmed
                                                         Positive
Kanyaka Parameshwari Engineering Ltd  LT Bk Fac          CARE BBB;      80      Reaffirmed
                                                         Stable
Kcc Buildcon Pvt Ltd                  LT Bk Fac          CARE A-; Stable1250    Reaffirmed
Kcc Buildcon Pvt Ltd                  LT/ ST Bk Fac      CARE A-;       10000   Reaffirmed
                                                         Stable/CARE A2+
Konkan Railway Corporation Ltd        Redeemable Bonds   CARE AA+;      2500    Reaffirmed
                                                         Stable
Konkan Railway Corporation Ltd        Redeemable Bonds*  CARE AAA (CE); 10800   Reaffirmed
                                                         Stable
* The Ministry of Railways (MoR), Government of India (GoI), has issued a ‘Letter of Comfort’
for these bond issues and it has undertaken to make funds available to the company, if required,
to ensure timely repayment of principal and interest thereon
Kosamattam Finance Ltd                NCD Issue-II       CARE BBB-;     132.6   Reaffirmed
                                                         Stable
Kosamattam Finance Ltd                NCD Issue-IV       CARE BBB-;     195.1   Reaffirmed
                                                         Stable
Kosamattam Finance Ltd                NCD Issue-V        CARE BBB-;     91.8    Reaffirmed
                                                         Stable
Kosamattam Finance Ltd                NCD Issue-VI       CARE BBB-;     488.9   Reaffirmed
                                                         Stable
Kosamattam Finance Ltd                NCD Issue-VII      CARE BBB-;     403.1   Reaffirmed
                                                         Stable
Kosamattam Finance Ltd                NCD Issue-VIII     CARE BBB-;     149.5   Reaffirmed
                                                         Stable
Kosamattam Finance Ltd                Subordinated debt  CARE BBB-;     250     Reaffirmed
                                      – I                Stable
Kosamattam Finance Ltd                Subordinated debt  CARE BBB-;     100     Reaffirmed
                                      – II               Stable
Kosamattam Finance Ltd                Subordinated debt  CARE BBB-;     300     Reaffirmed
                                      – III              Stable
Kosamattam Finance Ltd                Subordinated debt  CARE BBB-;     247.9   Reaffirmed
                                      – IV               Stable
Kosamattam Finance Ltd                NCD Issue-I        CARE BBB-;     -       Withdrawn
                                                         Stable
Krish Agro Farms Pvt Ltd              LT Bk Fac          CARE D         120
Revised from CARE BB-; Stable
Kunal Lohachem Pvt.Ltd.               LT Bk Fac          CARE B; Stable 60      Reaffirmed
Kunal Structure (India) Pvt Ltd       LT Bk Fac*         CARE A-; Stable822
Revised from CARE A; Stable ; *Reclassified bank facilities of Rs.13.80 crore from Long-term to
Short-term and Rs.84.00 crore from Long-term to Longterm/ Short-term
Kunal Structure (India) Pvt Ltd       LT / ST Bk Fac     CARE A-;       9440
                                                         Stable /CARE
                                                         A2+
Revised from CARE A; Stable / CARE A1
Madhav (Sehora Silodi Corridor)       LT Bk Fac          CARE A-; Stable552.5   Reaffirmed
Highways Pvt Ltd
(reduced from 63.54 Crore)
Madhya Bharat Telecom Infrastructure  LT Bk Fac          CARE BB; Stable73
Revised from CARE BB+;Stable; Issuer Not Cooperating and revoked from Issuer Not Cooperating
Madhya Bharat Telecom Infrastructure  LT/ ST Bk Fac      CARE BB;       76
                                                         Stable/CARE A4
Revised from CARE BB+;Stable/ CARE A4+; Issuer Not Cooperating and revoked from Issuer Not
Cooperating
Mahalaxmi Technocast Ltd              LT Bk Fac          CARE B+; Stable250     Reaffirmed
Mahika Infra Llp                      LT Bk Fac          CARE BB (CE);  1500    Reaffirmed
                                                         Stable
(reduced from 166.18 Crore)
Mahika Infra Llp                      LT Bk Fac          Prov-CARE BB   561.8   Reaffirmed
                                                         (CE); Stable
(enhanced from 40.00 Crore)
Manaksia Coated Metals & Industries LtLT Bk Fac          CARE BB+;      861     -
                                                         Stable
Issuer Not Cooperating; Revised from CARE BBB; Stable on the basis of best available information
Meril Diagnostics Pvt Ltd             LT Bk Fac          CARE AA- (CE); 508.1   Reaffirmed
                                                         Stable
(Reduced from Rs.51.45 Crore)
Meril Diagnostics Pvt Ltd             LT/ Short- term Bk CARE AA- (CE); 550     Reaffirmed
                                      Fac                Stable/CARE
                                                         A1+ (CE)
(Enhanced from Rs.45.00 Crore)
Meril Endo Surgery Pvt Ltd            LT Bk Fac          CARE AA- (CE); 80      Reaffirmed
                                                         Stable
(Reduced from Rs.13.25 Crore)
Meril Endo Surgery Pvt Ltd            LT/ Short- term Bk CARE AA- (CE); 920     Reaffirmed
                                      Fac                Stable/CARE
                                                         A1+ (CE)
(Enhanced from Rs.87.00 Crore)
Meril Healthcare Pvt Ltd              LT Bk Fac          CARE AA- (CE); 320     Reaffirmed
                                                         Stable
(Reduced from Rs.40.80 Crore)
Meril Healthcare Pvt Ltd              LT/ Short- term Bk CARE AA- (CE); 990     Reaffirmed
                                      Fac                Stable/CARE
                                                         A1+ (CE)
(Enhanced from Rs.79.00 Crore)
Meril Life Sciences India Pvt Ltd     LT/ Short- term Bk CARE AA- (CE); 900     Reaffirmed
                                      Fac                Stable/CARE
                                                         A1+ (CE)
(Enhanced from Rs.70.00 Crore)
Meril Life Sciences Pvt Ltd           LT Bk Fac          CARE AA- (CE); 865.6   Reaffirmed
                                                         Stable
(Enhanced from Rs.75.00 Crore)
Meril Life Sciences Pvt Ltd           LT/ Short- term Bk CARE AA- (CE); 1450    Reaffirmed
                                      Fac                Stable/CARE
                                                         A1+ (CE)
(Enhanced from Rs.125.00 Crore)
Munish Forge Pvt Ltd                  LT Bk Fac          CARE BB+;      405     Reaffirmed
                                                         Stable
Northern Arc 2019 Cl Mirissa          Series A1 PTC#     Prov-CARE A-   101.6   Assigned
Originator: Loantap Credit Products Pvt                  (SO)
Ltd
#Series A1 and Series A2 PTCs are rated on Ultimate Payment basis
Northern Arc 2019 Cl Mirissa          Series A2 PTC#     Prov-CARE BBB  2.3     Assigned
Originator: Loantap Credit Products Pvt                  (SO)
Ltd
#Series A1 and Series A2 PTCs are rated on Ultimate Payment basis
Oshina Expo Pvt Ltd                   LT Bk Fac          CARE BB-;      50
                                                         Stable
Revised from CARE B+; Stable
Oswal Lumbers Pvt Ltd                 LT Bk Fac          CARE BB-;      20      Reaffirmed
                                                         Stable
Pasupati Acrylon Ltd                  LT Bk Fac          CARE BBB+;     106.2   Reaffirmed
                                                         Stable
Pentech Metals Pvt Ltd                LT Bk Fac          CARE BB; Stable80      -
Issuer not cooperating; Revised from CARE BB+; Stable on the basis of best available information
Pentech Metals Pvt Ltd                LT / ST Bk Fac     CARE BB;       20      -
                                                         Stable/CARE A4
Issuer not cooperating; Revised from CARE BB+; Stable on the basis of best available
information.
Piyanshu Chemicals Pvt Ltd            LT Bk Fac          CARE BBB+;     160     Reaffirmed
                                                         Stable
Pratishna Engineers                   LT Bk Fac          CARE BB; Stable28
Revised from CARE BB-; Stable
Quebec Petroleum Resources Ltd.       LT Bk Fac          CARE BBB-;     280     Reaffirmed
                                                         Stable
R. S. Rice Mills                      LT Bk Fac          CARE BB;       300
                                                         Negative
Reaffirmed; Outlook revised from Stable to Negative
R.R.Engineering Company               LT Bk Fac          CARE BB-;      100
                                                         Stable
Revised from CARE BB; Stable
Ramdev Cotton Industries              LT Bk Fac          CARE D         95      -
Issuer not cooperating; revised from CARE B+; Stable; Issuer Not Cooperating on the basis of
best available information
Refracast Metallurgicals Pvt. Ltd.    LT Bk Fac          CARE BB;       70      Reaffirmed
                                                         Stable
Rishi Fibc Solutions Pvt Ltd          LT Bk Fac          CARE A; Stable 1531.8  Reaffirmed
(reduced from Rs. 164.98 Crore)
Rsb Castings Ltd                      LT Bk Fac          CARE BBB (CE); 610     Reaffirmed
                                                         Stable*
Rsb Transmissions (I) Ltd             LT Bk Fac          CARE BBB;      5870.6  Reaffirmed
                                                         Stable
(reduced from 631.43 Crore)
S.V.Sivalinga Nadar & Sons            LT Bk Fac          CARE BB+;      9.5     Reaffirmed
                                                         Stable
Sheetal Infrastructure Pvt Ltd        LT Bk Fac          CARE BB; Stable671.9   Reaffirmed
Shiv Sabari Developers                LT Bk Fac          -              -
Reaffirmed at CARE BB, outlook Stable and withdrawn
Shiva Distilleries Pvt Ltd            LT Bk Fac – TL^    -              -       Withdrawn
^CARE has withdrawn the rating assigned to the long-term bank facilities (term loans) of SDL
with immediate effect, as the company has repaid the aforementioned bank facilities rated by us
in full and there is no amount outstanding under the facilities as on date
Shiva Distilleries Pvt Ltd            LT Bk Fac – CC     CARE BBB;      450     Reaffirmed
                                                         Stable
Shree Biradev Finance Pvt Ltd         LT Bk Fac          CARE BB; Stable200     Reaffirmed
Shree Chintamani Knitting Pvt Ltd     LT/ ST Bk Fac      -              -
Rating reaffirmed and withdrawn
Smith Industrial Corporation Pvt Ltd  LT Bk Fac          CARE BBB-;     285     Reaffirmed
                                                         Stable
Sona Wires Pvt. Ltd.                  LT Bk Fac          CARE B+;       25
                                                         Stable
Revised from CARE D (reduced from 3.18 Crore)
Sonal Fabricators Pvt Ltd             LT Bk Fac          CARE B-; Stable30      -
Issuer not cooperating; Revised from CARE B; Stable on the basis of best available information
Src Projects Pvt Ltd                  LT Bk Fac          CARE BBB-;     65      Reaffirmed
                                                         Stable
Sri Lakshminarasimha Electricals      LT Bk Fac          CARE BB; Stable75      Assigned
Sterling Gated Community Pvt Ltd      NCD issue          CARE B; Stable 600
Revised from CARE B+; Stable
Sunderlal Moolchand Jain Tabacconist  LT Bk Fac          CARE BB; Stable135
Pvt Ltd
Revised from CARE BB-; Outlook: Stable
Sutlej Textiles & Industries Ltd      Fund Based-LT-TL   CARE A+; Stable6883.4  Reaffirmed
(reduced from 739.50 Crore)
Sutlej Textiles & Industries Ltd      Fund Based- LT/    CARE A+;       6000    -
                                      ST-CC/ EPC/ PCFC   Stable/ A1+
Tanuj Roshi Poultry Farm              LT Bk Fac          CARE B; Stable 79      -
Issuer not cooperating; Revised from CARE B+; Stable on the basis of best available information
Teeknits                              LT Bk Fac          CARE BB-;      0.3     -
                                                         Stable
Issuer not cooperating; Revised from CARE BB; Stable on the basis of best available information
The Rajlakshmi Cotton Mills Pvt Ltd   LT Bk Fac          CARE BBB-;     460     Assigned
                                                         Stable
Thomson Press India Ltd               LT Bk Fac          CARE A-; Stable880     Reaffirmed
Toyo Engineering India Pvt Ltd        LT/ ST Bk Fac      CARE A+;       26270   Reaffirmed
                                                         Stable/CARE A1+
Trishul Construction Company          LT Bk Fac          CARE BB-;      30
                                                         Stable
“Issuer not cooperating; Based on best available information”
Vee Kay Vikram & Co Llp               LT Bk Fac          -              -       Withdrawn
Vee Kay Vikram & Co Llp               LT/ ST Bk Fac      CARE BBB;      60      Reaffirmed
                                                         Stable/CARE A3+
(enhanced from 1.40 Crore)
Vishvaraj Infrastructure Ltd          LT Bk Fac          CARE BB        749.5   -
Issuer not cooperating; Revised from CARE BBB-; Stable on the basis of best available
information
Vivriti Huerta 12 2019 (Originator:   Series A PTC#      Prov-CARE A    114.9   Assigned
Samunnati Financial Intermediation And                   (SO)
Services Pvt Ltd)
# Series A PTCs are rated on Ultimate Payment basis
Vizag Hospital And Cancer Research    LT Bk Fac          CARE BBB;      154     Reaffirmed
Centre Pvt Ltd                                           Stable
(Enhanced from 14.03 Crore)


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$: 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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