July 23, 2020 / 8:47 AM / 13 days ago

CARE ratings for Indian debt instruments-Jul 23

    Jul 23  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of July 22, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Saibaba Agrotech Pvt Ltd (Sapl)      ST Bk Fac         CARE A4;      70     -
(Issuer not cooperating; based on best available information)
R3 Crop Care Pvt Ltd                 ST Bk Fac         CARE D;       266    -
(Issuer not cooperating; based on best available information)
Smarttrak Solar Systems Pvt Ltd      ST BkFac          CARE D ;      20     Revised from
                                                                            CARE A4
(Issuer not cooperating; based on best available information)
Kufri Fun Campus Pvt Ltd             ST BkFac          CARE D        85     Revised from
                                                                            CARE A4
LONG TERM RATINGS:
-------------------
Ador Ceramics Pvt Ltd                LT BkFac          -             -      Reaffirmed at
                                                                            CARE BB-;
                                                                            Stable and Withdrawn
(Issuer not cooperating; based on best available information)
B. J. Hotels Pvt Ltd                 LT Bk Fac         CARE D;       61.2   -
(Issuer not cooperating; based on best available information)
Brijlal Hospital & Research CentrepvtLT BkFac          CARE B+;      149.8  Revised from
Ltd                                                                         CARE BB-
(Issuer not cooperating; on the basis of best available information)
Faze Three Ltd                       LT/ST BkFac       CARE BBB+;    870    Reaffirmed
                                                       Stable/CARE A3+
(enhanced from 82.00 Crore)
Frystal Pet Pvt Ltd                  LT BkFac          CARE B-;      120    Revised from
                                                                            CARE B;
(Issuer not cooperating; on the basis of best available information)
Gwet Cold Chain Pvt Ltd              LT BkFac          CARE B-;      359.8  Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; on the basis of best available information)
Hamon Cooling Systems Pvt Ltd        LT/ST Bk Fac (Bk  -             -      Withdrawn
                                     Overdraft)#
# The rating assigned to the Long term/Short Term Bank Facilities (Bank Overdraft) has been
withdrawn as the facility is fully repaid and closed. 
Hamon Cooling Systems Pvt Ltd        Issuer rating^    CARE B(Is);   0      Revised from
                                                       Stable               CARE C(Is);
                                                                            Stable
(Issuer not cooperating; based on best available information)
^ The rating is subject to the company maintenance overall gearing not exceeding 1.58x.
Hamon Cooling Systems Pvt Ltd        LT Bk Fac         CARE B; Stable59     Revised from
                                                                            CARE C; Stable
(Issuer not cooperating; based on best available information) (reduced from 27.65 Crore)
Hamon Cooling Systems Pvt Ltd        LT/ST Bk Fac (BG) CARE B;       920.9  Revised from
                                                       Stable/CARE A4       CARE C;
                                                                            Stable/CARE A4
(Issuer not cooperating; based on best available information) (enhanced from 55.50 Crore)
Hindusthan National Glass &IndustriesLT/ST Bk Fac      CARE D/CARE D;6000   -
Ltd.
(Issuer not cooperating; based on best available information)
Hindusthan National Glass &IndustriesLT Bk Fac         CARE D;       20630  -
Ltd.
(Issuer not cooperating; based on best available information)
Hindusthan National Glass &Industries NCD - Series-III  CARE D;       2000   -
Ltd.
(Issuer not cooperating; based on best available information)
Investors Clinic Infratech Pvt Ltd   LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE B+;
                                                                            Stable and Withdrawn
Kaila Devi Healthcare Services Pvt   LT Bk Fac         CARE B+; Stabl120    Revised from
Ltd                                                                         CARE B;
                                                                            Stable;
(Issuer not cooperating)
Kufri Fun Campus Pvt Ltd             Long -term BkFac  CARE D        73     Revised from
                                                                            CARE B+;
                                                                            Stable
Lekhya Motors Pvt Ltd                Long -term Bk Fac CARE B-;      125    Revised from
                                                                            CARE B+;
(Issuer not cooperating; based on best available information)
Manjeet Singh Bhatia                 LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE D and
                                                                            Subsequently
                                                                            withdrawn
Manjeet Singh Bhatia                 Long/ ST BkFac    -             -      Reaffirmed at
                                                                            CARE D/ CARE
                                                                            D and subsequently
                                                                            withdrawn
Northern Arc 2019 Mfi Atbarah        Series A PTC      CARE A (SO)   214.8  Assigned
(Originator: Madura Micro Finance Ltd)
Pune Metropolitan Region Development NCD issue         -             -      Withdrawn
Authority                            (Proposed)
R B Rungta Steels & Food Products PvtLT BkFac          CARE B+; Stabl76.6   Revised from
Ltd                                                                         CARE BB-;
                                                                            Stable
R3 Crop Care Pvt Ltd                 LT Bk Fac         CARE D;       30     -
(Issuer not cooperating; based on best available information)
Rakesh Kumar Gupta Rice Mills Pvt LtdLT Bk Fac         CARE B;       75     Revised from
(Rkgpl)                                                Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Sai Swadhin Commercials Pvt Ltd      LT Bk Fac         CARE D;       76.4   -
(Issuer not cooperating; based on best available information)
Saibaba Agrotech Pvt Ltd (Sapl)      LT Bk Fac         CARE B-;      22.4   Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; based on best available information)
Seven Hills Educational And Health   LT BkFac          CARE B-;      186.1  Revised from
care Society (Shehcs)                                  Stable;              CARE B; Stable
(Issuer not cooperating; based on best available information)
Smarttrak Solar Systems Pvt Ltd      Long -term BkFac  CARE D ;      90     Revised from
                                                                            CARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Tileco Natural Stones Pvt Ltd        LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE B+;
                                                                            Stable and Withdrawn
Tileco Natural Stones Pvt Ltd        LT/ST BkFac       -             -      Reaffirmed at
                                                                            CARE B+;
                                                                            Stable/CARE A4 and
                                                                            Withdrawn
Tommy Hilfiger Arvind Fashion Pvt LtdLT BkFac          CARE A;       800    Revised from
                                                       Negative             CARE A+;
                                                                            Negative
--------------------------------------------------------------------------------------------
$: 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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