July 28, 2020 / 10:05 AM / 9 days ago

CARE ratings for Indian debt instruments-Jul 28

    Jul 28  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of July 27, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Future Consumer Ltd                  ST Bk Fac         CARE A4       700    Revised from
                                     (Fundbased)       (Credit watch        CARE A2+
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Consumer Ltd                  ST Bk Facility    CARE A4       250    Revised from
                                     (NonFB)           (Credit watch        CARE A2+
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Consumer Ltd                  ST instruments- CPCARE A4       1000   Revised from
                                     (CP)              (Credit watch        CARE A2+
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Retail Ltd                    ST non-fund based CARE A4+      25000  Revised from
                                     Bk Fac – LC/BG    (Credit watch        CARE A2+
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Retail Ltd                    CP Issue          CARE A4+      7500   Revised from
                                                       (Credit watch        CARE A2
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Retail Ltd                    CP Issue*         CARE A4+      6500   Revised from
                                                       (Credit watch        CARE A2+
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
 *carved out of working capital limits    
 R T Rice Industries                  ST BkFac          CARE A4;      50
(Issuer not cooperating; based on best available information)
Pratibha Krushi Prakriya Ltd         ST Bk Fac         CARE D;       50
(Issuer not cooperating; based on best available information)
S. S. Engineering Works              ST BkFac          CARE A4;      25
(Issuer not cooperating; based on best available information)
Shree Krishna Rolling Mills (Jaipur) ST Bk Fac         CARE A4+      120    Assigned
Zen Technologies Ltd                 ST Bk Fac         CARE A3;      150    Revised from
                                                                            CARE A3+
(Issuer not cooperating; on the basis of best available information)

LONG TERM RATINGS:
-------------------
Alok Harsh Rice Mill Pvt Ltd         LT BkFac          CARE B+;      47.4   -
                                                       Stable;
(Issuer not cooperating; based on best available information)
Best Seeds Karnal                    LT Bk Fac         CARE B+;      57.4   Revised from
                                                       Stable               CARE B; Stable
(Issuer not cooperating)
Chandra Engineers                    LT Bk Fac         CARE D        41.5   Revised from
                                                                            CARE B+;
                                                                            Stable
(Issuer not cooperating)
Chandra Engineers                    LT /ST Bk Fac     CARE D        61.5   Revised from
                                                                            CARE B+;
                                                                            Stable/CARE A4
(Issuer not cooperating)
Future Consumer Ltd                  LT Bk Fac         CARE BB       2660   Revised from
                                     (Fundbased)       (Credit watch        CARE A-
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Consumer Ltd                  LT Bk Facility    CARE BB       455    Revised from
                                     (TL)              (Credit watch        CARE A-
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Consumer Ltd                  LT                CARE BB       200    Revised from
                                     instruments:(NCD) (Credit watch        CARE A-
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Consumer Ltd                  Long/ST Bk Fac (FBCARE BB/CARE  1090   Revised from
                                                       A4 (Credit           CARE A-/ CARE
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Retail Ltd                    LT - TL           CARE BB+      5280   Revised from
                                                       (Credit watch        CARE
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Retail Ltd                    LT fund based Bk  CARE BB+      32500  Revised from
                                     Fac – CC          (Credit watch        CARE
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Retail Ltd                    NCD Issue         CARE BB+      1990   Revised from
                                                       (Credit watch        CARE
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Retail Ltd                    Proposed NCD IssueCARE BB+      1000   Revised from
                                                       (Credit watch        CARE
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Future Retail Ltd                    Fixed Deposit     CARE BB+ (FD) 7000   Revised from
                                     Programme         (Credit watch        CARE A- (FD)
                                                       with developing      (Continues to be on
                                                       implications          credit watch with
                                                                             developing
                                                                             implications )
Greenko Ka01 Irep Pvt Ltd            Proposed NCD issueCARE A+(CE)   7500   Assigned
                                                       (under credit
                                                       watch with 
                                                       Negative 
                                                       implications)
Gulshan Homz Pvt Ltd                 NCD issue         CARE BB-;     1500   Reaffirmed
                                                       Stable
Jagjit Enterprises Pvt Ltd           LT BkFac          CARE B; stable71.3   Reaffirmed
(Reduced From 13.00 Crore)
Jagjit Enterprises Pvt Ltd           LT BkFac          CARE B; stable58.7   Reaffirmed
Kalahandi Vikash Charitable Trust    LT Bk Fac         CARE B;       142    Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
Lokmangal Agro Industries Ltd        LT Bk Fac         CARE B;       1100
(Issuer not cooperating; based on best available information)
Lokmangal Sugar Ethenol And          LT Bk Fac         CARE D;       1747.1
Co-Generation Industries Ltd
(Issuer not cooperating; based on best available information)
Mitra Guha Builders (India) Company  LT Bk Fac         CARE BB-;     24     Revised from
                                                       Stable               CARE B+;
                                                                            Stable
(Reduced from 2.50 Crore) (Issuer not cooperating)
Mitra Guha Builders (India) Company  LT / ST Bk Fac    CARE BB-;     132    Revised from
                                                       Stable/CARE A4       CARE B+;
                                                                            Stable;/ CARE A4
(Issuer not cooperating)
Ntpc Tamil Nadu Energy Co. Ltd       Bk Fac – FB – LT –CARE A-;      19000  Reaffirmed
                                     CC                Stable
(enhanced from 1,500 Crore)
Ntpc Tamil Nadu Energy Co. Ltd       Bk Fac – Fund     CARE A-;      7000   Reaffirmed
                                     based - TL        Stable
Ntpc Tamil Nadu Energy Co. Ltd       Bk Fac –          CARE A-;      2000   Reaffirmed
                                     Non-fundbased –   Stable/CARE A2
                                     LT/ST – BG/LC
Pragati Packaging                    LT Bk Fac         CARE BB-;     80     Reaffirmed
                                                       Stable
Pratibha Krushi Prakriya Ltd         LT Bk Fac         CARE D;       2027.8
(Issuer not cooperating; based on best available information)
Pratibha Milk Industries             LT Bk Fac         CARE D;       549.3
(Issuer not cooperating; based on best available information)
Protech Feed Pvt Ltd                 LT BkFac          CARE B-;      109.5
                                                       Stable;
(Issuer not cooperating; based on best available information)
R T Rice Industries                  LT BkFac          CARE B-;      17.8   Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; based on best available information)
S. S. Engineering Works              LT BkFac          CARE B-;      75     Revised from
                                                       Negative;            CARE
                                                                            B;Negative
(Issuer not cooperating; based on best available information)
Sachdev Steel Works Pvt Ltd          Long –term Bk Fac CARE D;       103.3
(Issuer not cooperating; based on best available information)
Sahu And Sons                        LT Bk Fac         CARE B+;      30     Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Sarala Development & Microfinance PvtLT BkFac          CARE BB;      1489.2 Revised from
Ltd                                                    Stable;              CARE BBB-;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Shree Krishna Rolling Mills (Jaipur) LT/ST Bk Fac      CARE BB+;     280    Assigned
                                                       Stable /CARE
                                                       A4+
Talwalkars Better Value Fitness Ltd  LT - BkFac –      CARE D        842
                                     TermLoan
(Issuer not cooperating; based on best available information)
Talwalkars Better Value Fitness Ltd  NCD Issue         CARE D        1050
(Issuer not cooperating; based on best available information)
Talwalkars Better Value Fitness Ltd  Proposed NCD IssueCARE D        250
(Issuer not cooperating; based on best available information)
Talwalkars Healthclubs Ltd           LT - Bk Fac – TL  CARE D        2807.4 -
(Issuer not cooperating; based on best available information)
Talwalkars Healthclubs Ltd           NCD Issue         CARE D        1633.4 -
(Issuer not cooperating; based on best available information)
Talwalkars Healthclubs Ltd           Proposed          CARE D        250    -
                                     NonConvertible
                                     Debenture Issue
(Issuer not cooperating; based on best available information)
Uttarakhand Gramin Bank              Tier I            -             -      Withdrawn
                                     Bonds(Perpetual
                                     Debt Instrument)
Zen Technologies Ltd                 LT/ST BkFac       CARE BBB-;    720    Revised from
                                                       Stable/CARE A3;      CARE
                                                                            BBB;Stable/CARE A3+
(Issuer not cooperating; based on best available information)
Zen Technologies Ltd                 LT Bk Fac         CARE BBB-;    500    Revised from
                                                       Stable;              CARE BBB;
                                                                            Stable
(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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