June 10, 2020 / 8:15 AM / a month ago

CARE ratings for Indian debt instruments-Jun 10

    Jun 10  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of June 9, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Cec Flavours And Fragrances Pvt Ltd  ST BkFac          CARE A4;      9.5
Issuer not cooperating; based on best available information
Fashion Impex                        ST Bk Fac         CARE A4;      25
Issuer not cooperating; based on best available information

Shiv Mahal Textiles Pvt Ltd          ST Bk Fac         CARE A4;      15
Issuer not cooperating; based on best available information
Iris Products Pvt Ltd                ST Bk Fac         -             -      Withdrawn
Kanchan India Ltd                    ST Bk Fac         -             -      Reaffirmed at
                                                                            CARE A4+ and
                                                                            Withdrawn
Issuer not cooperating; based on best available information
Shree Ambica Agro Industries Pvt Ltd ST BkFac          CARE A4;      10
Issuer not cooperating; based on best available information

LONG TERM RATINGS:
-------------------
Archon Powerinfra India Pvt Ltd      LT Bk Fac         CARE C        11     Assigned
Archon Powerinfra India Pvt Ltd      LT / ST BkFac     CARE C/CARE A440     Assigned
Arg Infra Developers Pvt Ltd         LT Bk Fac         CARE D;       180
Issuer not cooperating; based on best available information
Arihant Dream Infra Projects Ltd     LT Bk Fac         CARE D;       149
Issuer not cooperating; based on best available information
Bhawariya Construction Company       LT/ST BkFac       CARE B+;      130    Revised from
                                                       Stable/CARE A4;      CARE BB-;
                                                                            Stable / CARE A4
Issuer not cooperating; based on best available information
Bhawariya Construction Company       LT Bk Fac         CARE B+;      50     Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Capital Trust Ltd                    LT Bk Fac         CARE BBB-;    3000   Revised from
                                                       Stable               CARE
                                                                            BBB;Negative
Capital Trust Ltd                    NCDs              CARE BBB-;    1500   Revised from
                                                       Stable               CARE
                                                                            BBB;Negative
Capital Trust Microfinance Pvt Ltd   LT Bk Fac         CARE BBB- (CE)500    Revised from
                                     (Proposed)                             Provisional
                                                                            CARE BBB (CE);
(Credit watch with Negative implications)
Cec Flavours And Fragrances Pvt Ltd  LT Bk Fac         CARE B+;      250    Revised from
                                                       Stable,              CARE BB;
                                                                            Stable
Issuer not cooperating; based on best available information
Combine Diamonds Pvt Ltd             LT Bk Fac         CARE D;       550
Issuer not cooperating; based on best available information
D. Nareshkumar Exports Pvt Ltd       LT – FB Fac       CARE D;       410
Issuer not cooperating; based on best available information
Fashion Impex                        LT/ST BkFac       CARE B-;      115    Revised from
                                                       Stable/CARE A4;      CARE B;
                                                                            Stable/CARE A4
Issuer not cooperating; based on best available information
Fashion Impex                        LT Term BkFac     CARE B-;      45.1   Revised from
                                                       Stable;              CARE B; Stable
Issuer not cooperating; based on best available information
Gold Palace Jewellers                Long -term Bk Fac CARE B-;      100    Revised from
                                                       Stable;              CARE B; Stable
Issuer not cooperating; based on best available information
Iris Products Pvt Ltd                LT Bk Fac         -             -      Withdrawn
Singh Construction Pvt Ltd           LT Bk Fac         CARE A4;      100
Issuer not cooperating; based on best available information
Kanchan India Ltd                    LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE
                                                                            BB+;Stable and
                                                                            Withdrawn
Issuer not cooperating; based on best available information
Kanchan India Ltd                    LT/ ST Bk Fac     -             -      Reaffirmed at
                                                                            CARE BB+;
                                                                            Stable/ CARE A4+ and
                                                                            Withdrawn
Issuer not cooperating; based on best available information
Kandla Packaging Pvt Ltd             LT Bk Fac         CARE B;       120    Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Kudos Finance & Investments Pvt Ltd  LT Bk Fac         CARE BB; Stabl200    Assigned
Kw Dream Homes Consortium Pvt Ltd    Proposed LT       -             -      Withdrawn
                                     instruments (NCDs-
                                     NCDs)
Loh Swetanshu Prakashbhai            LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE BB-;
                                                                            Stable and withdrawn
Issuer not cooperating; based on best available information
Madhav Textiles                      LT/ST Bk Fac      CARE D/CARE D;70
Issuer not cooperating; based on best available information
Madhya Pradesh Financial Corporation LT BkFac          CARE BBB (CE) 3000   Revised from
                                                                            CARE A- (CE)
(Credit watch with Negative implications)
Madhya Pradesh Financial Corporation LT BkFac          CARE BBB (CE) 1953.9 Revised from
                                                                            CARE A- (CE)
(Credit watch with Negative implications)
Madhya Pradesh Financial Corporation LT bondIssue      CARE BBB (CE) 1588.6 Revised from
                                                                            CARE A- (CE)
(Credit watch with Negative implications)
Mewar Fabrics Pvt Ltd                LT BkFac          CARE B-;      72.8   Revised from
                                                                            CARE B
Issuer not cooperating; based on best available information
R.Rajesh Exports                     LT BkFac          CARE B+;      1010   Revised from
                                                       Stable;              CARE BB;
                                                                            Stable
Issuer not cooperating; based on best available information
Rajasthan Education Institute & HealtLT Bk Fac         CARE D;       50.1
Society
Issuer not cooperating; based on best available information
Saradhambika Paper And Board Mills   Long –term Bk Fac CARE          60
Pvt Ltd                                                BB-;Stable :
Issuer not cooperating; based on best available information
Shiv Mahal Textiles Pvt Ltd          LT Bk Fac         CARE B+;      172.7  Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Shree Ambica Agro Industries Pvt Ltd LT BkFac          CARE B;       92.7   Revised from
                                                                            CARE B+
Issuer not cooperating; based on best available information
Sim Diam Pvt Ltd                     LT BkFac          CARE BB-;     1600   Revised from
                                                       Stable;              CARE BB+;
                                                                            Stable
Issuer not cooperating; based on best available information
Singh Construction Pvt Ltd           LT Bk Fac         CARE B-;      30     Revised From
                                                       Stable;              CARE B
Issuer not cooperating; based on best available information
Surya Cotton Industries              LT Bk Fac         CARE D;       68.3
Issuer not cooperating; based on best available information
T. C. Motors Pvt. Ltd.               LT Bk Fac         CARE B;       255.7  Revised From
                                                       Stable;              CARE
                                                                            BB-;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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