July 22, 2019 / 7:25 AM / 2 months ago

CARE ratings for Indian debt instruments-Jul 22

    Jul 22 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 19, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Core Chemicals (Mumbai) Pvt Ltd       ST Bk Fac          CARE A4        37.2    Reaffirmed
(Issuer Not Cooperating)
Dream Weaver Pvt Ltd                  ST Bk Fac          CARE A4        70      Assigned
Emation                               ST Bk Fac          -              -       Withdrawn
Fluidtherm Technology Pvt Ltd         ST Bk Fac          CARE A4+       74.8    -
(Issuer Not Cooperating)
Ganesh Tamuli Engineering Pvt Ltd     ST Bk Fac          CARE A4        52.5    -
(Issuer Not Cooperating)
Godawari Power And Ispat Ltd          ST Bk Fac          CARE A3+       893.4   Reaffirmed
Hindustan Spirits Ltd                 ST Bk Fac          CARE A4        20      -
(Issuer Not Cooperating)
Jain Stone Industries Pvt Ltd         ST Bk Fac          -              -       Withdrawn
Kurseong Computer Sales Pvt Ltd       ST Bk Fac          CARE A4        10      -
(Issuer Not Cooperating)
Lakshmi Prestress Concrete Works Pvt  ST Bk Fac (Non     CARE A4        10      Assigned
                                      Fund Based)
Manjushree Tea & India Pvt Ltd        ST Bk Fac          CARE A4        2       -
(Issuer Not Cooperating)
Mb Power (Madhya Pradesh) Ltd         ST Bk Fac -        CARE A3+       490     Revised from
                                      Non-Fund Based –                          CARE A2
                                      LOC
Raiganj Jeevan Rekha Diagnostic Pvt.  ST Bk Fac          CARE A4        4       -
Ltd.
(Issuer Not Cooperating)
Rajesh Rayon Silk Mills Ltd           ST Bk Fac          CARE A4        2       -
(Issuer Not Cooperating)
Ruchira Papers Ltd                    ST Bk Fac          -              -       Withdrawn
Rockdude Exim Pvt Ltd                 ST Bk Fac          CARE A4        30      Reaffirmed
(Issuer Not Cooperating)
Rockdude Impex Pvt Ltd                ST Bk Fac          CARE A4        110     Reaffirmed
(Issuer Not Cooperating)
Saraf Foods Ltd                       ST Bk Fac          CARE A4+       35      Assigned
Shiven Ceramic Llp                    ST Bk Fac          CARE A4        5       Assigned
Vishesh Industries                    ST Bk Fac          CARE A4        15      -
(Issuer Not Cooperating)


LONG TERM RATINGS:
-------------------
Ambica Iron And Steel Pvt Ltd         Long -term Bk Fac  CARE B+        60      -
(Issuer Not Cooperating)
Buckman Laboratories (India) Pvt Ltd  LT/ST Bk Fac       CARE BBB+/A2   120     Reaffirmed
Capital Ventures Pvt Ltd              Long -term Bk Fac  CARE BB        240     Assigned
Core Chemicals (Mumbai) Pvt Ltd       Long -term Bk Fac  CARE BB        100     Reaffirmed
(Issuer Not Cooperating)
Ecl Finance Ltd                       CP Issue (IPO      -              -       Withdrawn
                                      Financing)
Edelweiss Rural & Corporate Services  CP Issue (IPO      -              -       Withdrawn
Ltd                                   Financing)
Emation                               Long -term Bk Fac  -              -       Withdrawn
Fluidtherm Technology Pvt Ltd         Long -term Bk Fac  CARE BB        52.5    -
(Issuer Not Cooperating)
Fujin Wind Parks Pvt Ltd              LT Bk Fac          CARE D         2960    Revised from
                                                                                CARE BBB-
(Issuer Not Cooperating)
Ganesh Tamuli Engineering Pvt Ltd     Long -term Bk Fac  CARE B+        27.5    Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Godawari Power And Ispat Ltd          NCDs^              -              -       Withdrawn
^rating is withdrawn based on No Dues certificate from the investors
Godawari Power And Ispat Ltd          LT Bk Fac          CARE BBB+      13274.4 Revised from
                                                                                CARE BBB
Godawari Power And Ispat Ltd          NCDs               CARE BBB+      184.6   Revised from
                                                                                CARE BBB
Gopal Ice Factory & Chilling Centre   LT Bk Fac          CARE B+        56.5    Reaffirmed
Grand Hira Resorts Pvt Ltd            Long -term Bk Fac  CARE D         150     -
(Issuer Not Cooperating)
Gtc Oilfield Services Pvt Ltd         LT Bk Fac (TL)     CARE BBB (CE)  180     Assigned
Gtc Oilfield Services Pvt Ltd         LT Bk Fac (Fund    CARE BBB (CE)  100     Assigned
                                      Based)
Gtc Oilfield Services Pvt Ltd         LT/ST Bk Fac       CARE BBB       200     Assigned
                                      (Non-fund based)   (CE)/CARE A3+
                                                         (CE)
Hindustan Spirits Ltd                 Long -term Bk Fac  CARE B         142.3   -
(Issuer Not Cooperating)
Jain Stone Industries Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Jain Stone Industries Pvt Ltd         LT/ST Bk Fac       -              -       Withdrawn
Javery Incorporation                  Long -term Bk Fac  -              -       Withdrawn
Jubilee Infrastructures               LT Bk Fac          CARE D         60      Revised from
                                                                                CARE B
Kurseong Computer Sales Pvt Ltd       Long -term Bk Fac  CARE BB-       80      -
(Issuer Not Cooperating)
Lakshmi Prestress Concrete Works Pvt  LT Bk Fac (Fund    CARE BB        40      Assigned
                                      Based)
Lakshmi Rail Infra Pvt Ltd            LT Bk Fac (Fund    CARE BB-       50      Assigned
                                      Based)
Lioli Ceramica Pvt Ltd                LT Bk Fac          CARE B+        949.6   Reaffirmed
Lioli Ceramica Pvt Ltd                LT/Shortterm Bk FacCARE B+ / A4   234     Reaffirmed
M. Shailesh & Co.                     Long -term Bk Fac  -              -       Withdrawn
Madarkhat Tea Company Pvt Ltd         Long -term Bk Fac  CARE B-        58      -
(Issuer Not Cooperating)
Manjushree Tea & India Pvt Ltd        Long -term Bk Fac  CARE B+        59.5    -
(Issuer Not Cooperating)
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac –TL      CARE BBB+      46480   -
(Outlook revised to Negative from Stable  and rating reaffirmed)
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac – (ECBs) CARE BBB+      7430    -
(Outlook revised to Negative from Stable and rating reaffirmed)
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac–Non-Fund CARE BBB+      5710    -
                                      Based (BG)
(Outlook revised to Negative from Stable  and rating reaffirmed)
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac – Fund   CARE BBB+      10600   -
                                      Based – Working
                                      capital limits
(Outlook revised to Negative from Stable  and rating reaffirmed)
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac -        CARE BBB+      2700    -
                                      Non-Fund Based –
                                      Derivative Limit
(Outlook revised to Negative from Stable  and rating reaffirmed)
Ms Handloom Cottage Pvt Ltd           Long -term Bk Fac  CARE B         90      -
(Issuer Not Cooperating)
Muthayammal Educational And CharitableLT Bk Fac          -              -       Withdrawn
Trust
Naveen Rice Mills                     Long -term Bk Fac  CARE B         150     -
(Issuer Not Cooperating)
Navyug Industries                     Long -term Bk Fac  CARE BB-       150     -
(Issuer Not Cooperating)
Newtech Shelters Pvt Ltd              Long -term Bk Fac  CARE D         134.4   -
(Issuer Not Cooperating)
Nice International Ltd                Long -term Bk Fac  CARE B+        60      -
(Issuer Not Cooperating)
Nice International Ltd                LT/ST Bk Fac       CARE B+/A4     40      -
(Issuer Not Cooperating)
Nimbus Motors Pvt Ltd                 Long -term Bk Fac  CARE B+        325     Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
Nkc Projects Pvt Ltd                  Long -term Bk Fac  CARE BBB+      575     Reaffirmed
Nkc Projects Pvt Ltd                  LT/ST Bk Fac       CARE BBB+/A3+  4225    Reaffirmed
Platina Steels Pvt Ltd                Long -term Bk Fac  CARE B         171.6   Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Rac Extrusions Ltd                    Long -term Bk Fac  CARE B+        65      -
(Issuer Not Cooperating)
Raiganj Jeevan Rekha Diagnostic Pvt.  Long -term Bk Fac  CARE B         70      -
Ltd.
(Issuer Not Cooperating)
Rajesh Rayon Silk Mills Ltd           Long -term Bk Fac  CARE B         145     Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Rajlaxmi Agro Processor Pvt Ltd       Long -term Bk Fac  CARE B+        60      -
(Issuer Not Cooperating)
Rlj Infracement Pvt Ltd               Long -term Bk Fac  CARE D         120     -
(Issuer Not Cooperating)
Rockdude Exim Pvt Ltd                 Long -term Bk Fac  CARE B         19      Reaffirmed
(Issuer Not Cooperating)
Rockdude Impex Pvt Ltd                Long -term Bk Fac  CARE B+        109     Reaffirmed
(Issuer Not Cooperating)
Roshni Jewellers Pvt. Ltd.            LT Bk Fac          CARE D         90      -
(Issuer Not Cooperating)
Rpg Industrial Products Pvt Ltd       Long -term Bk Fac  CARE BB+       150     Revised from
                                                                                CARE BBB-
(Issuer Not Cooperating)
Ruchi Technoplast                     Long -term Bk Fac  CARE BB-       65.7    -
(Issuer Not Cooperating)
Ruchira Papers Ltd                    Long -term Bk Fac  -              -       Withdrawn
S R Metallizers                       Long -term Bk Fac  -              -       Withdrawn
S R Metallizers                       LT Bk Fac/ST Bk Fac-              -       Withdrawn
S. D. Corporation Pvt Ltd             NCDs(NCDs) issue^  -              -       Withdrawn
^Non-Convertible Debentures of Rs.100 crore, backed by unconditional, irrevocable and revolving
Debt Service Reserve Account (DSRA) guarantee from Shapoorji Pallonji and Company Private
Limited (SPCPL, rated: CARE AA-; Credit Watch with developing implications/CARE A1+)
S. D. Corporation Pvt Ltd             NCDs(NCDs) issue * CARE AA(CE)    7500    Revised from
                                                                                Provisional
                                                                                CARE AA
*Backed by Unconditional and Irrevocable Corporate Guarantee (CG) by Shapoorji Pallonji and
Company Private Limited (SPCPL rated CARE AA-; under credit watch with developing
implication/CARE A1+) and the credit enhancement in the form of put option available jointly and
severally on investments companies of the Shapoorji Pallonji (SP) group namely, Cyrus Investment
Private Limited (CIPL) and Sterling Investment Corporation Private Limited (SICPL) together
known as “Put Option Providers” (POPs), ensuring timely servicing of rated obligations
Saraf Foods Ltd                       Long -term Bk Fac  CARE BB+       320.4   Assigned
Saraf Foods Ltd                       LT/ ST Bk Fac      CARE BB+/A4+   142.5   Assigned
Shiven Ceramic Llp                    Long -term Bk Fac  CARE BB-       100.5   Assigned
Shree Halasidhanath Sahakari Sakhar   Long -term Bk Fac  CARE B-        650     Assigned
Karkhana Ltd
Shree Sita Ispat And Power Pvt Ltd    Long -term Bk Fac  CARE B+        60      -
(Issuer Not Cooperating)
Srinivasa Educational Society         Long -term Bk Fac  -              -       Withdrawn
St. Wilfred Education Society         LT Bk Fac          -              -       Withdrawn
Suchi Foams Pvt Ltd                   LT Bk Fac          CARE BB-       150     Assigned
Tejas Ispat Pvt Ltd                   Long -term Bk Fac  CARE B         90      -
(Issuer Not Cooperating)
Thane Ghodbunder Toll Road Pvt Ltd    LT Bk Fac          -              -       Withdrawn
Union Capital                         Union Capital      CARE AAAmfs    -       Reaffirmed
                                      Protection
                                      Oriented Fund Series – 7
Union Capital                         Union Capital      CARE AAAmfs    -       Reaffirmed
                                      Protection
                                      Oriented Fund Series – 8
Vatsa Automobiles Pvt. Ltd.           Long -term Bk Fac  CARE D         120.4   -
(Issuer Not Cooperating)
Venus Multiplex                       Long -term Bk Fac  CARE B         150     -
(Issuer Not Cooperating)
Vishesh Industries                    Long -term Bk Fac  CARE B         58.6    -
(Issuer Not Cooperating)


--------------------------------------------------------------------------------------------
$: 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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