July 24, 2020 / 9:05 AM / 11 days ago

CARE ratings for Indian debt instruments-Jul 24

    Jul 24  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of July 23, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Antony Lara Enviro Solutions Pvt Ltd ST Bk Fac -       CARE A3       50     Revised from
                                     Non-fund based                         CARE A4
(Issuer not cooperating; on the basis of best available information)
Antony Waste Handling Cell Ltd       ST Bk Fac -       CARE A3       330    Revised from
                                     Non-fund based                         CARE A4
(Issuer not cooperating; on the basis of best available information)
Corporate Fashion Pvt Ltd            ST Bk Fac         CARE D;       5
(Issuer not cooperating; based on best available information)
Five Core Electronics Ltd            ST Bk Fac         CARE D;       440
(Issuer not cooperating; based on best available information)
Devdashrath Royalties And            ST Bk Fac         CARE A4;      86.1
Indian Acoustics Pvt Ltd             ST Bk Fac         CARE D;       240
Tollways_(Partnership)
(Issuer not cooperating; based on best available information)
Happy Acoustics Pvt Ltd              ST Bk Fac         CARE D;       365
Jaivinder Singh Bhatia               ST BkFac          CARE A4;      25
(Issuer not cooperating; based on best available information)
King Refineries Pvt Ltd              ST Bk Fac         CARE A4;      40
(Issuer not cooperating; on the basis of best available information)
Sri Chitra Agri Exports              ST Bk Fac         CARE A4;      145
(Issuer not cooperating; based on best available information)
Suganthi Educational Trust           ST Bk Fac         CARE D;       50
(Issuer not cooperating; based on best available information)
K. G. Lakshmipathi And Company       ST Bk Fac         CARE D;       22.5   Revised from
                                                                            CARE A4
(Issuer not cooperating; on the basis of best available information)
M. Ranganathan                       Short – term Bk   CARE D;       15     Revised from
                                     Fac                                    CARE A4
(Issuer not cooperating; on the basis of best available information)
Mse Industries                       ST Bk Fac         CARE D        21     Revised from
                                                                            CARE A4
(Issuer not cooperating; on the basis of best available information)
Sintex-Bapl Ltd                      ST Bk Fac         CARE D;       2500
(Issuer not cooperating; based on best available information)
Visual And Acoustics Corporation Llp ST Bk Fac         CARE D;       115
(Issuer not cooperating; based on best available information)
Vanita Cold Storage                  ST BkFac          CARE A4;      155
(Issuer not cooperating; based on best available information)

LONG TERM RATINGS:
-------------------
Anjani Cotgin                        LT Bk Fac         CARE B-;      70.2   Revised from
                                                                            CARE B
(Issuer not cooperating; on the basis of best available information)
Antony Lara Enviro Solutions Pvt Ltd LT Bk Fac – TL    CARE BBB-;    1055   Revised from
                                                       Stable               CARE BB+
(Issuer not cooperating; on the basis of best available information)
Antony Waste Handling Cell Ltd       LT Bk Fac - Fund  CARE BBB-;    275    Revised from
                                     based             Stable               CARE BB+
(Issuer not cooperating; on the basis of best available information)
Ashwani Goyal                        LT Bk Fac         CARE D;       93.8
(Issuer not cooperating; based on best available information)
Baba Bhuman Shah Ji Rice Mills       LT Bk Fac         CARE B-;      142.8  Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; based on best available information)
Bgr Energy Systems Ltd               Long- term Bk Fac CARE BBB;     28880  Revised from
                                                       Negative             CARE
                                                                            BBB;Stable
Bgr Energy Systems Ltd               LT/STBk Fac       CARE BBB;     53300  Revised from
                                                       Negative/CARE        CARE
                                                       A3                   BBB;Stable/CARE A3
Bhakti Infracon Llp                  LT BkFac          CARE D;       400
(Issuer not cooperating; based on best available information)
Corporate Fashion Pvt Ltd            LT Bk Fac         CARE D;       54.6
(Issuer not cooperating; based on best available information)
Devdashrath Royalties And            LT/ST Bk Fac      CARE B;       94.4   Revised from
Tollways_(Partnership)                                 Stable/CARE A4;      CARE BB-;
                                                                            Stable/ CARE A4
(Issuer not cooperating; based on best available information)
Devdashrath Royalties And            LT Bk Fac         CARE B;       40     Revised from
Tollways_(Partnership)                                 Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Educomp Infrastructure & School      LT Bk Fac         -             -      Withdrawn
Management Ltd
Educomp Infrastructure & School      Cumulative        -             -      Withdrawn
Management Ltd                       Compulsory CPS
Five Core Electronics Ltd            LT Bk Fac         CARE D;       10
(Issuer not cooperating; based on best available information)
Gammon India Ltd                     LT FB Fac – CC    CARE D;       9490.5
(Issuer not cooperating; based on best available information)
Gammon India Ltd                     Long/ ST Non-FB   CARE D;       90927.8
                                     Fac – CC
(Issuer not cooperating; based on best available information)
Gammon India Ltd                     NCDs              CARE D;       3240
(Issuer not cooperating; based on best available information)
Goverdhan Cottex                     LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE B+;
                                                                            Stable and withdrawn
(Issuer not cooperating)
Gromor Finance Pvt Ltd               LT BkFac          CARE BB-;     75     Reaffirmed
                                                       Stable
Gromor Finance Pvt Ltd               NCDs              CARE BB-;     150    Reaffirmed
                                                       Stable
Happy Acoustics Pvt Ltd              LT Bk Fac         CARE D;       15
(Issuer not cooperating; based on best available information)
Ifci Venture Capital Funds Ltd.      LT Bk Fac         -             0      Withdrawn
Ifci Venture Capital Funds Ltd.      LT Bk Fac         -             0      Withdrawn
Ifci Venture Capital Funds Ltd.      LT/ST BkFac       -             0      Withdrawn
Ifci Venture Capital Funds Ltd.      LT NCDs           CARE BB;      993.6  Revised from
                                                       Negative             CARE BB+;
                                                                            Negative
Indian Acoustics Pvt Ltd             LT Bk Fac         CARE D;       35.4
(Issuer not cooperating; based on best available information)
Jaivinder Singh Bhatia               LT BkFac          CARE B+;      28.4   Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
K. G. Lakshmipathi And Company       Long -term Bk Fac CARE D;       60     Revised from
                                                                            CARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Kcc Buildcon Pvt Ltd                 LT Bk Fac         CARE A-;      1250   Reaffirmed
                                                       Negative
(Outlook revised from Stable to Negative)
Kcc Buildcon Pvt Ltd                 LT/ Short termBk  CARE A-;      10000
                                     Fac               Negative/CARE
                                                       A2+
(Outlook revised from Stable to Negative)
King Refineries Pvt Ltd              LT Bk Fac         CARE B+;      30     Revised from
                                                       Stable;              CARE
                                                                            BB-;Stable
(Issuer not cooperating; on the basis of best available information)
M. Ranganathan                       Long –term Bk Fac CARE D;       34     Revised from
                                                                            CARE B; Stable
(Issuer not cooperating; on the basis of best available information)
Maruthi Ready Mix                    LT BkFac          CARE B;       53.9   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Mse Industries                       Long -term Bk Fac CARE D        28.9   Revised from
                                                                            CARE B; Stable
(Issuer not cooperating; on the basis of best available information)
Noble Corrugators Pvt Ltd            LT BkFac          CARE BB+;     50     Revised from
                                                       Stable;              CARE BBB-;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Northern Arc 2020 Mfi Ludendorff     Series A PTC      CARE A (SO)   234.9  Assigned
(Originator: Madura Micro Finance Ltd)
Samrat Plastic Industries            LT BkFac          CARE B;       81.1   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Shri Sai Priya Sugars Ltd            LT Bk Fac         CARE D;       3606.1
(Issuer not cooperating; based on best available information)
Sintex Prefab And Infra Ltd          LT Bk Fac         CARE D;       500
(Issuer not cooperating; based on best available information)
Sintex Prefab And Infra Ltd          NCDs - I (ISIN -  CARE D;       216.7
                                     INE972T07019)
(Issuer not cooperating; based on best available information)
Sintex Prefab And Infra Ltd          NCDs - II (ISIN - CARE D;       865
                                     INE972T07043)
(Issuer not cooperating; based on best available information)
Sintex Prefab And Infra Ltd          NCDs - III (ISIN  CARE D;       2500
                                     - INE972T07035)
(Issuer not cooperating; based on best available information)
Sintex-Bapl Ltd                      LT Bk Fac         CARE D;       8106.8
(Issuer not cooperating; based on best available information)
Sintex-Bapl Ltd                      NCDs (NCD -ISIN:  CARE D;       2000
                                     INE631U07019)
(Issuer not cooperating; based on best available information)
Sspt Logistics                       Long -term Bk Fac CARE D;       60     Revised from
                                                                            CARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Subhlakshmi Finance Pvt. Ltd.        LT– TL            -             0      Reaffirmed at
                                                                            CARE BB+;
                                                                            Stable and Withdrawn
(Issuer not cooperating)
Suganthi Educational Trust           Long –term Bk Fac CARE D;       630
(Issuer not cooperating; based on best available information)
Varenyam Motor Car                   LT Bk Fac         CARE B;       112.5  Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Visual And Acoustics Corporation LLP LT Bk Fac         CARE D;       15
(Issuer not cooperating; based on best available information)
--------------------------------------------------------------------------------------------
$: 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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