July 9, 2019 / 6:40 AM / 2 months ago

CARE ratings for Indian debt instruments-Jul 9

    Jul 9 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of July 8, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bhagiradha Chemicals And Industries LtST Bk Fac          CARE A3+       285     Reaffirmed
Dish Tv India Ltd                     ST Bk Fac(LOC/ BG) CARE A3+       1500
Removed from Credit watch with negative implications; Rating revised from CARE A1; (Reduced from
190.00 Crore)
Dish Tv India Ltd                     ST Bk Fac (TL)     CARE A3+       2500

Removed from Credit watch with negative implications; Rating revised from CARE A1
Dish Tv India Ltd                     ST Bk Fac          CARE A3+       4500    Assigned
                                      (Overdraft)
Excel Metal Processors Pvt Ltd.       ST Bk Fac          CARE D         200     -
Issuer Not Cooperating; Based on best available information
Itl Industries Ltd                    ST Bk Fac          -              -       Withdrawn
Jainco Buildcon Ltd                   ST Bk Fac          CARE A4        140     -
Issuer Not Cooperating; Based on best available information
K. Rajnikant & Co                     ST Bk Fac          -              -       Withdrawn
M. R. Enterprises                     ST Bk Fac          -              -       Withdrawn
Mamb Woollens Pvt Ltd                 Short- Term Bk Fac -              -       Withdrawn
Omjyoti Apparels                      ST Bk Fac          CARE A4        140     Reaffirmed
Palathra Constructions                ST Bk Facilties    CARE A4        90      Assigned
Parivartan Buildtech Pvt Ltd          ST Bk Fac          CARE A4        99.5    -
Issuer Not Cooperating; Revised from CARE A4+ on the basis of best available information
Priyanka (India) Pvt Ltd              ST Bk Fac          CARE A4        65      -
Issuer Not Cooperating; Based on best available information
Rajshri Constructions                 ST Bk Fac          CARE A4        52.5    Assigned
Shubh Arya Steel Pvt Ltd              ST Bk Fac          CARE A4+       50      Assigned
Speciality Polymers Pvt Ltd           ST Bk Fac          CARE D         371     -
Issuer Not Cooperating; Based on best available information
Sm1 Construction                      ST Bk Fac          CARE A4        10      Assigned
Sti Industries                        ST Bk Fac          CARE A4+       137.5   Assigned

LONG TERM RATINGS:
-------------------
Bhagiradha Chemicals And Industries   LT Bk Fac          CARE BBB       454.6   Reaffirmed
(enhanced from Rs. 41.50 Crore)
Chawla Jewellers                      LT Bk Fac          CARE BB-       60
Revised from CARE B+; Issuer Not Cooperating
Cleartrip Pvt. Ltd.                   Bk Fac-Fund        -              -       Withdrawn
                                      based-LT-CC
Cleartrip Pvt. Ltd.                   Bk Fac-Fund        -              -       Withdrawn
                                      based-ST-Over Draft
Cleartrip Pvt. Ltd.                   Bk Fac- Non Fund   -              -       Withdrawn
                                      Based-STBG
Dish Infra Services Pvt Ltd           LT Bk Fac (TL)     CARE BBB+ (CE) 17072.3
CE: Credit Enhancement; Removed from Credit watch with negative implications; Rating revised
from CAREA(SO) ; (reduced from 1923.68 Crore)
Dish Infra Services Pvt Ltd           LT Bk Fac          CARE BBB+ (CE) 400
                                      (Cash Credit)
CE: Credit Enhancement; Removed from Credit watch with negative implications; Rating revised
from CAREA(SO)
Dish Infra Services Pvt Ltd           LT/ ST Bk Fac      CARE BBB+      19975.1
                                      (FB/Non-fund based)(CE)/ A3+ (CE)
CE: Credit Enhancement; Removed from Credit watch with negative implications; Rating revised
from CAREA(SO)/CARE A1(SO) ; (reduced from 2403.85 Crore)
Dish Infra Services Pvt Ltd           LT/ ST Bk Fac (BG) CARE BBB+      1000
                                                         (CE)/ A3+ (CE)
CE: Credit Enhancement; Removed from Credit watch with negative implications; Rating revised
from CAREA(SO)/CARE A1(SO)
Esaf Small Finance Bank Ltd - Cedar   Series A1 PTCs     -              -       Withdrawn
Inclusive Finance Trust 2
Esaf Small Finance Bank Ltd - Cedar   Series A2 PTCs     -              -       Withdrawn
Inclusive Finance Trust 2
Esaf Small Finance Bank Ltd - Cedar   Series A3 PTCs     -              -       Withdrawn
Inclusive Finance Trust 2
Esaf Small Finance Bank Ltd- Cedar    Series A PTCs      -              -       Withdrawn
Inclusive Finance Trust 3
Esaf Small Finance Bank Ltd- Cedar    Series A1 PTCs     -              -       Withdrawn
Inclusive Finance Trust 3
Esaf Small Finance Bank Ltd-Cedar     Series A1 PTCs     -              -       Withdrawn
Inclusive Finance Trust 4
Esaf Small Finance Bank Ltd-Cedar     Series A2 PTCs     -              -       Withdrawn
Inclusive Finance Trust 4
Excel Metal Processors Pvt Ltd.       LT Bk Fac          CARE D         381.2   -
Issuer Not Cooperating; Based on best available information
Gmr Airports Ltd                      Non-Convertible    CARE A+        11000
                                      Bonds
Final Rating#; Under credit watch with negative implications; # CARE has received the executed
bond trust deed, private placement offer cum application letter and signed copy of term sheet,
pursuant to which the rating has been confirmed
Irc Concrete Mix (India) Pvt Ltd      LT Bk Fac          CARE B+        -       Withdrawn
Itl Industries Ltd                    LT Bk Fac          -              -       Withdrawn
Itl Industries Ltd                    LT / ST Bk Fac     -              -       Withdrawn
Jain Hydraulics Pvt Ltd               LT Bk Fac          CARE D         100     -
Issuer Not Cooperating; Based on best available information
Jainco Buildcon Ltd                   LT Bk Fac          CARE BB-       110     -
Issuer Not Cooperating; Based on best available information
Kavya Cold Storage                    LT Bk Fac          -              -       Withdrawn
Lunawat Milk & Agro Pvt Ltd           LT/ ST Bk Fac      CARE B-/ A4    -       Withdrawn
M. R. Enterprises                     LT Bk Fac          -              -       Withdrawn
Mamb Woollens Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Manoj Mathew                          LT Bk Fac          CARE BB-       120     Assigned
Nilkanth Cotton Industries            LT Bk Fac          CARE D         73.2    -
Issuer Not Cooperating; Based on best available information
Padmavati Ginning And Pressing Pvt LtdLT Bk Fac          CARE D         70      -
Issuer Not Cooperating; Revised from CARE B on the basis of best available information
Palathra Constructions                LT Bk Fac          CARE BB-       160     Assigned
Parivartan Buildtech Pvt Ltd          LT Bk Fac          CARE BB        100     -
Issuer Not Cooperating; Revised from CARE BB+ on the basis of best available information
Parivartan Buildtech Pvt Ltd          LT/ST Bk Fac       CARE BB /CARE  150.5   -
                                                         A4
Issuer Not Cooperating; Revised from CARE BB+ / CARE A4+ on the basis of best available
information
Prakash Stainless Pvt Ltd             LT Bk Fac          CARE D         150     -
Issuer Not Cooperating; Revised from CARE B on the basis of best available information
Priyanka (India) Pvt Ltd              LT Bk Fac          CARE B+        10      -
Issuer Not Cooperating; Based on best available information
Rajshri Constructions                 LT Bk Fac          CARE B+        20      Assigned
S.S. Agri Business Pvt Ltd            LT Bk Fac          CARE B         115.3
Issuer Not Cooperating; based on best available information
Sathya Lifestyles Pvt Ltd             LT Bk Fac          CARE D         100     -
Issuer Not Cooperating; Based on best available information
Shaji Mathew                          LT Bk Fac          CARE BB-       60      Assigned
Shiv Shankar Rice Mills-Ferozpur      LT Bk Fac          CARE BB-       172.2   Reaffirmed
Shubh Arya Steel Pvt Ltd              LT Bk Fac          CARE BB-       50      Assigned
Sm1 Construction                      LT Bk Fac          CARE B+        30      Assigned
Speciality Polymers Pvt Ltd           LT Bk Fac          CARE D         135     -
Issuer Not Cooperating; Based on best available information
Speciality Polymers Pvt Ltd           LT/ST Bk Fac       CARE D /D      450     -
Issuer Not Cooperating; Based on best available information
Sti Industries                        LT Bk Fac          CARE BB        12.5    Assigned
Super Spintex Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Super Spintex Pvt Ltd                 LT /ST Bk Fac      -              -       Withdrawn
Vinit Knittings Pvt Ltd               LT Bk Fac          CARE B+        70      Assigned
Wadhawan Global Capital Ltd           NCD Issue          CARE C         19000
Revised from CARE BB
Wadhawan Global Capital Ltd           NCD Issue          CARE D         2250
Revised from CARE BB

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