June 11, 2020 / 7:42 AM / 23 days ago

CARE ratings for Indian debt instruments-Jun 11

    Jun 11  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of June 10, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ashwini Frozen Foods                 ST Bk Fac         CARE D;       2.5
(Issuer not cooperating; based on best available information)
Chandrashekhar Industries            ST Bk Fac         -             -      Withdrawn
Centrum Financial Services Ltd       CP (Proposed)     CARE A2+      1000   Assigned
Dynamic Refractories                 ST Bk Fac         CARE D;       5
(Issuer not cooperating; based on best available information)
Jupiter Solar Power Ltd              ST Bk Fac         CARE D;       684.4
(Issuer not cooperating; based on best available information)
Jupiter International Ltd            ST Bk Fac         CARE D;       20.8
(Issuer not cooperating; based on best available information)
Jcc Infratech Pvt Ltd                ST Bk Fac         CARE A4       67.5   Revised from
                                                                            CARE A4
(Issuer not cooperating; based on best available information)
Senbo Engineering Ltd                ST Bk Fac         CARE D        1573.2
(Issuer not cooperating; based on best available information)
Precast India Infrastructures Pvt LtdST BkFac          CARE A4;      620    Revised from
                                                                            CARE A3
(Issuer not cooperating; based on best available information)
Radheshyam Spinning Mills Pvt Ltd    ST Bk Fac         CARE A4;      33
(Issuer not cooperating; based on best available information)
Vishwaa Apparels                     ST Bk Fac         CARE A4+      50     Revised from
                                                                            CARE A4
(Issuer not cooperating; based on best available information)

LONG TERM RATINGS:
-------------------
Acuity India Resorts Pvt Ltd         LT Bk Fac         CARE D;       83.7   -
(Issuer not cooperating; based on best available information)
Ampsolar Projects Pvt Ltd            LT Bk Fac         CARE BBB;     140.1  Reaffirmed
                                                       Stable
(reduced from 14.50 Crore)
Anant Overseas Pvt Ltd               LT Fac            CARE B;       190    Revised from
                                                       stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Ashwini Frozen Foods                 LT/ Shortterm Bk  CARE D/CARE D;60
                                     Fac
(Issuer not cooperating; based on best available information)
Ashwini Frozen Foods                 LT Bk Fac         CARE D;       1.5
(Issuer not cooperating; based on best available information)
Bbt Elevated Road Pvt Ltd            LT Bk Fac         CARE D; #     1350   Revised from
                                                                            CARE BB+
                                                                            (CE); Stable
(Issuer not cooperating; based on best available information),#the rating does not take any
support from credit enhancement provided by the guarantor Riverbank Developers Private Limited
Centrum Financial Services Ltd       Market            CARE PP-MLD   1000   Assigned
                                     LinkedDebentures  A-; Negative
                                     (Proposed)
Chandrashekhar Industries            LT Bk Fac         -             -      Withdrawn
Dynamic Refractories                 LT Bk Fac         CARE D;       80
(Issuer not cooperating; based on best available information)
G. M. Agro Industries                LT Bk Fac         CARE D;       60
(Issuer not cooperating; based on best available information)
Indian Hydrocolloids                 LT / STBk Fac     CARE B; Stable200    Revised from
                                                       /CARE A4;            CAREB+; Stable
(Issuer not cooperating; based on best available information)
Jcc Infratech Pvt Ltd                LT Bk Fac         CARE B; Stable50     Revised from
                                                                            CARE B; Stable
(Issuer not cooperating; based on best available information)
Jupiter International Ltd            LT/ST Bk Fac      CARE D/CARE D;128.7
(Issuer not cooperating; based on best available information)
Jupiter International Ltd            LT Bk Fac         CARE D;       815.9
(Issuer not cooperating; based on best available information)
Jupiter Solar Power Ltd              LT Bk Fac         CARE D;       1170.9
(Issuer not cooperating; based on best available information)
Magma Housing Finance Ltd            LT Bk Fac         CARE AA-;     7750   Reaffirmed
                                                       Negative
(enhanced from 453.03 Crore)
Magma Housing Finance Ltd            Secured NCDs      CARE AA-;     300    Reaffirmed
                                     (NCDs)            Negative
Magma Housing Finance Ltd            Proposed NCDs                   1000
Manappuram Finance Ltd               NCD (Proposed)    CARE AA;      2500   Assigned
                                                       Stable
Mevada Oil Mill Pvt Ltd              LT Bk Fac         CARE D;       146
(Issuer not cooperating; based on best available information)
Mod Age Consultants & Advisory       LT NCDs (NCD)     CARE D;       170
Services Pvt Ltd
(Issuer not cooperating; based on best available information)
Precast India Infrastructures Pvt LtdLT BkFac          CARE BB+;     200    Revised from
                                                       Stable;              CARE BBB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Radheshyam Spinning Mills Pvt Ltd    LT/STBk Fac       CARE BB-/CARE 110
                                                       A4;
(Issuer not cooperating; based on best available information)
Radheshyam Spinning Mills Pvt Ltd    LT Bk Fac         CARE BB-;     159.5
(Issuer not cooperating; based on best available information)
Raja Cotton Industries               LT Bk Fac         CARE D;       62.5
(Issuer not cooperating; based on best available information)
Riverbank Developers Pvt Ltd         Corporate         CARE C;       1350   Revised from
                                     Guarantee@                             CARE BB+;
                                                                            Stable
(Issuer not cooperating; based on best available information),@ extended corporate guarantee to
BBT Elevated Road Pvt Ltd. The guarantee is to be operated through a structured
payment mechanism for timely transfer of the required funds for payment of principal and
interest (to the extent of RS.135.0 crore) to a designated account.
Senbo Engineering Ltd                LT Bk Fac         CARE D        1426.8
(Issuer not cooperating; based on best available information)
Shree Nathji Cotton & Oil Industries LT Bk Fac         CARE D;       76.6
(Issuer not cooperating; based on best available information)
Shrinath Cotton Industries           LT Bk Fac         CARE D;       60.3
(Issuer not cooperating; based on best available information)
Silk Cotton                          LT Bk Fac         CARE D;       75.2
(Issuer not cooperating; based on best available information)
Sun Packaging                        LT BkFac          CARE B-;      60     Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; based on best available information)
Tirupati Commodities Impex Pvt Ltd   CC                CARE D;       220
(Formerly Known As Tirupati Iron Impex
Pvt Ltd)
(Issuer not cooperating; based on best available information)
Tirupati Commodities Impex Pvt Ltd   LOC               CARE D;       210
(Formerly Known As Tirupati Iron Impex
Pvt Ltd)
(Issuer not cooperating; based on best available information)
Tirupati Commodities Impex Pvt Ltd   BG                CARE D;       20
(Formerly Known As Tirupati Iron Impex
Pvt Ltd)
(Issuer not cooperating; based on best available information)
Vishwaa Apparels                     LT Bk Fac         CARE BB; Stabl138.7  Revised from
                                                                            CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Vizebh Agri Sciences Pvt Ltd         LT Bk Fac         CARE D;       118.7
(Issuer not cooperating; based on best available information)
Welspun Enterprises Ltd              LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE A+;
                                                                            Stable and withdrawn
Welspun Enterprises Ltd              Long/ST Bk Fac    -             -      Reaffirmed at
                                                                            CARE A+;
                                                                            Stable/CARE A1+ and
                                                                            withdrawn
--------------------------------------------------------------------------------------------
$: 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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