July 30, 2020 / 8:02 AM / 7 days ago

CARE ratings for Indian debt instruments-Jul 30

    Jul 30  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of July 29, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Amulya Kumar Dash                    ST Bk Fac         CARE A4;      45
(Issuer not cooperating; based on best available information)
Anjani Food Products Pvt Ltd         ST BkFac          CARE A4;      15
(Issuer not cooperating; on the basis of best available information)

Bharat Petroleum Corporation Ltd     CP                CARE A1+      115000 Reaffirmed
(reduced from 13,500 Crore)
Bihani Agro Foods Pvt Ltd            ST Bk Fac         CARE A4;      0.3
(Issuer not cooperating; based on best available information)
G P Cottfab Pvt Ltd                  ST Bk Fac         CARE D        2.5    -
(Issuer not cooperating; based on best available information)
C.K. Constructions                   ST Bk Fac         CARE A4+      90     Assigned
D. D. Agro Industries Ltd            ST Bk Fac         CARE A4;      15
(Issuer not cooperating; based on best available information)
Dgn Faser Pvt Ltd                    ST Bk Fac         -             -      Reaffirmed at
                                                                            CARE A4 and
                                                                            Withdrawn
(Issuer not cooperating;)
Flora Marmo Industries Pvt Ltd       ST Bk Fac         CARE A4;      189
(Issuer not cooperating; on the basis of best available information)
Future Supply Chain Solutions Ltd    ST Bk Fac- Non    CARE A4+      220    Revised from
                                     Fund Based        (Credit watch        CARE A2+ 
                                                       with developing      credit watch with
                                                       impliCations)        with developing
                                                                            implications
Future Supply Chain Solutions Ltd    ST Instrument -   CARE A4+      500    Revised from
                                     Proposed CP Issue (Credit watch        CARE A2+ (A
                                     (CP*)             with developing      credit watch with
                                                       impliCations)        with developing
                                                                            implications
*carved out of working capital limits     
G.G. Fashions                        ST Bk Fac         CARE A4       0.9    Assigned
P. M. Industries                     ST Bk Fac         CARE D;       23.6
(Issuer not cooperating; based on best available information)
Gati Kintetsu Express Pvt Ltd        ST Bk Fac         CARE A1+      400    Reaffirmed
Gati Kintetsu Express Pvt Ltd        CP                CARE A1+      200    Reaffirmed
Himalayan Road Construction Pvt Ltd  ST Bk Fac         CARE A4;      60
(Issuer not cooperating; based on best available information)
Hyderabad Steels                     ST Bk Fac         CARE A4;      35
(Issuer not cooperating; based on best available information)
Katyaini Products Pvt Ltd            ST BkFac          CARE A4;      80
(Issuer not cooperating; based on best available information)
Pims Medical And Education CharitableST Bk Fac         CARE A4;      50
Society
(Issuer not cooperating; based on best available information)
Registan Exports                     ST Bk Fac         CARE A4       19     Assigned
Sanginita Chemicals Ltd              ST Bk Fac         CARE A3       2.5    Reaffirmed
Shamanur Sugars Ltd                  ST BkFac          CARE A4;      650
(Issuer not cooperating; based on best available information)
Speciality Organics Pvt Ltd          ST Bk Fac         CARE A4       37.4   Reaffirmed
(enhanced from 3 Crore)
Youth Welfare Association            ST Bk Fac         CARE D        7.5
(Issuer not cooperating; based on best available information)

LONG TERM RATINGS:
-------------------
Agrasen Cotton Industries            LT Bk Fac         CARE C;       80     Revised from
                                                                            CARE B;
(Issuer not cooperating; on the basis of best available information)
Amulya Kumar Dash                    LT Bk Fac         CARE B;       35     Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Anjani Food Products Pvt Ltd         LT BkFac          CARE B+,      110    Revised from
                                                       Stable ;             CARE BB-,
                                                                            stable
(Issuer not cooperating; based on best available information)
Bharat Petroleum Corporation Ltd     NCD               CARE AAA      23000  -
                                                       (Under Credit
                                                       watch with 
                                                       developing 
                                                       implications)
Bharat Petroleum Corporation Ltd     NCD (Proposed)    CARE AAA      30000  -
                                                       (Under Credit
                                                       watch with 
                                                       developing 
                                                       implications)
Bihani Agro Foods Pvt Ltd            LT Bk Fac         CARE B-;      96.5   Revised from
                                                                            CARE B
(Issuer not cooperating; based on best available information)
C.K. Constructions                   LT Bk Fac         CARE BB;      30     Assigned
                                                       Stable
C.K. Constructions                   LT / ST Bk Fac    CARE BB;      130    Assigned
                                                       Stable/CARE A4+
D. D. Agro Industries Ltd            LT Bk Fac         CARE B+;      172.9  Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Dgn Faser Pvt Ltd                    LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE B-; and
                                                                            Withdrawn
(Issuer not cooperating;)
Dgn Faser Pvt Ltd                    LT/ST BkFac       -             -      Reaffirmed at
                                                                            CARE B-/CARE
                                                                            A4 and Withdrawn
(Issuer not cooperating;)
Eco Polymers                         LT BkFac          CARE B-;      67
(Issuer not cooperating; based on best available information)
Flora Marmo Industries Pvt Ltd       LT Bk Fac         CARE B+,      223.4  Revised from
                                                       Stable ;             CARE BB-,
                                                                            stable
(Issuer not cooperating; based on best available information)
Future Supply Chain Solutions Ltd    LT Bk Fac- CC     CARE BB+      970    Revised from
                                                       (Credit watch        CARE A- 
                                                       with developing      credit watch with
                                                       impliCations)        with developing
                                                                            implications   
Future Supply Chain Solutions Ltd    LT Bk Fac- TL     CARE BB+      500    Revised from
                                                       (Credit watch        CARE A- 
                                                       with developing      credit watch with
                                                       impliCations)        with developing
                                                                            implications   
Future Supply Chain Solutions Ltd    NCDs              CARE BB+      1990   Revised from
                                                       (Credit watch        CARE A- 
                                                       with developing      credit watch with
                                                       impliCations)        with developing
                                                                            implications   
G M Sugar And Energy Ltd             LT Bk Fac         CARE B-;      1000   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
G P Cottfab Pvt Ltd                  LT Bk Fac         CARE D        196.2  -
(Issuer not cooperating; based on best available information)
G.G. Fashions                        LT Bk Fac         CARE B+;      134    Assigned
                                                       Stable
Gati Kintetsu Express Pvt Ltd        LT Bk Fac         CARE A+;      2079.4 Revised from
                                                       Negative             CARE A+;
                                                                            Stable
Himalayan Road Construction Pvt Ltd  LT Bk Fac         CARE B+;      40     Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Hyderabad Steels                     LT Bk Fac         CARE C;       40
                                                       Stable;
(Issuer not cooperating; based on best available information)
Idf Financial Services Pvt Ltd       LT BkFac-TL       CARE BB;      313.2  Revised from
                                                       Stable;              CARE BB+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Katyaini Products Pvt Ltd            LT BkFac          CARE BB-;     35
(Issuer not cooperating; based on best available information)
Madhusudan Developers                Long- term Bk Fac CARE BB-;     98.5   Reaffirmed
                                                       Stable
(Removed from Issuer Not Co-operating)
Narayan Spinning Mills Pvt Ltd       LT Bk Fac         CARE BB;      383.3  Reaffirmed
                                                       Stable
(reduced from 51.56 Crore)
Narayan Spinning Mills Pvt Ltd       LT / ST Bk Fac    CARE BB;      25     Reaffirmed
                                                       Stable/CARE A4;
P. M. Industries                     LT Bk Fac         CARE D;       76.4
(Issuer not cooperating; based on best available information)
Raghav Sulzcon Pvt Ltd               LT Bk Fac         CARE B+;      80     Revised from
                                                                            CARE BB-
(Issuer not cooperating; on the basis of best available information)
Registan Exports                     LT Bk Fac         CARE B+;      55.2   Assigned
                                                       Stable
Sanginita Chemicals Ltd              LT/ST Bk Fac      CARE BBB-;    347.5  Reaffirmed
                                                       Stable/CARE A3
Scm Silks Pvt Ltd                    LT Bk Fac         -             -      Withdrawn
Shamanur Sugars Ltd                  LT BkFac          CARE B-;      501.9  Revised from
                                                       Stable;              CARE B;
(Issuer not cooperating; on the basis of best available information)
Shivam Traders                       LT Bk Fac         -             -      Withdrawn
Shri Sona Traders                    LT Bk Fac         CARE B+;      120    Revised from
                                                       Stable               CARE B; Stable
(Issuer not cooperating)
Speciality Organics Pvt Ltd          LT Bk Fac         CARE BB;      171.6  Reaffirmed
                                                       Stable
(enhanced from 6 Crore)
The Chennai Silks                    LT Bk Fac         -             -      Withdrawn
The Nilgiri Dairy Farm Pvt Ltd       LT Bk Fac         CARE BB (CE)  420    Revised from
                                                       (under credit        CARE A- (CE)
                                                       watch with           (under credit watch
                                                       developing            with 
                                                       developing            negative
                                                       implications          implications) 
Youth Welfare Association            LT Bk Fac         CARE D        60.4
(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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