June 14, 2018 / 4:16 AM / 7 days ago

CARE ratings for Indian debt instruments-Jun 14

    Jun 14 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 13, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Almadina Steel                        ST Bk Fac          CARE A4        23.5
Issuer not cooperating Based on best available information
Greenway Clothing                     ST Bk Fac          CARE A4        7.5
Issuer not cooperating

J.B.R. Technologies Ltd               ST Bk Fac          CARE A4        30      Reaffirmed
Joy Ma Lakshmi Cold Storage Pvt Ltd   ST Bk Fac          CARE A4        1       Assigned
Krishna Transnational Marbles Pvt Ltd ST Bk Fac          CARE A4        10
Issuer not cooperating
Lakshmi Saraswathi Textiles           ST Bk Fac          CARE A4        52
Issuer not cooperating Based on best available information
Navgrah Fastners Pvt Ltd              ST Bk Fac          CARE A4        45.2
Issuer NotCooperating, Based on best available information
Patidar Cotspin Pvt Ltd               ST Bk Fac          CARE A4        25
Issuer not cooperating; Based on best available information
Renu Electronics Pvt Ltd              ST Bk Fac          CARE A4        50      Assigned
Shiv Shakti Knit Fabs                 ST Bk Fac          CARE A4        3.8     Reaffirmed
Shri Ram Panels                       ST Bk Fac          CARE A4        20      Assigned
Smart Stainless Tubes Pvt Ltd         ST Bk Fac          CARE A4+       2.5     Assigned
Steelman Industries                   ST Bk Fac          CARE A4        80      Assigned

LONG TERM RATINGS:
-------------------
Aastha Cold Storage                   LT Bk Fac          CARE D         79
Issuer not cooperating; Based on best available information
Alcove Developers Llp                 LT Bk Fac          CARE BBB-      500
Revised from CARE BB+
Almadina Steel                        LT Bk Fac          CARE B+        36.3
Issuer not cooperating Based on best available information
Ario Infrastructure Pvt Ltd           LT/ST Bk Fac       CARE D/D       280
Issuer not cooperating; Based on best available information
Ashtech Buildpro India Pvt Ltd        LT Bk Fac          CARE B-        145     Assigned
B.B Minerals And Metals               LT Bk Fac          CARE B+        50      Assigned
Desdemona Northern Arc 2018           Series A1 PTC      CARE A(SO)     74.8
Assigned a Provisional rating
Desdemona Northern Arc 2018           Series A3 PTC      CARE BBB-(SO)  7.6
Assigned a Provisional rating
Desdemona Northern Arc 2018           Series A2 PTC      CARE BBB+(SO)  54.9
Assigned a Provisional rating
Etp International Pvt Ltd             LT Bk Fac          CARE BB        -       Withdrawn
Greenway Clothing                     LT Bk Fac          CARE BB        87.3
Issuer not cooperating
Harikrishna Steel Corporation         LT / ST Bk Fac     CARE BB+/A4+   880     Assigned
J.B.R. Technologies Ltd               LT Bk Fac          CARE BB        123.3   Reaffirmed
(Enhanced from Rs. 4.52 Crore)
Joy Ma Lakshmi Cold Storage Pvt Ltd   LT Bk Fac          CARE B+        75      Assigned
Kamineni Steel And Power India Pvt LtdLT Bk Fac          CARE D         17779.1
Issuer not cooperating. Based on best available information
Krishna Transnational Marbles Pvt Ltd Long -term Bk Fac  CARE B+        50
Issuer not cooperating
Lakshmi Saraswathi Textiles           LT Bk Fac          CARE B         8.4
Issuer not cooperating Based on best available information
Majumder Agro Industries Pvt Ltd      LT Bk Fac          CARE BB-       150     Assigned
Mascot Engitech Pvt Ltd               LT Bk Fac          CARE B-        70
Issuer not cooperating; Revised from CARE B; Issuer not cooperating ;Based on best available
information
Narmada Concast Pvt Ltd               LT Bk Fac          CARE B         287.1
Issuer not cooperating, Based on best available information
Narmada Concast Pvt Ltd               LT/ST Bk Fac       CARE B/A4      40
Issuer not cooperating, Based on best available information
Navgrah Fastners Pvt Ltd              LT Bk Fac          CARE BB-       6
Issuer NotCooperating, Based on best available information
Oasis Realty Pvt Ltd                  LT Bk Fac          -              -       Withdrawn
Orange Agar Wind Power Pvt Ltd        LT Bk Fac          CARE BBB+      2550    Reaffirmed
Orange Jaisalmer Wind Energy Pvt Ltd  LT Bk Fac          CARE A-        1360.4  Reaffirmed
Orange Mamatkheda Wind Pvt Ltd        LT Bk Fac          CARE BBB+      9872    Reaffirmed
Patidar Cotspin Pvt Ltd               LT Bk Fac          CARE B         7.5
Issuer not cooperating; Based on best available information
Patidar Cotspin Pvt Ltd               LT/ST Bk Fac       CARE B/A4      50
Issuer not cooperating; Based on best available information
Pragati Coatings Pvt Ltd              TL                 -              -       Withdrawn
Pragati Coatings Pvt Ltd              LT Bk Fac          CARE BB        95
Revised from CARE BB-
Pravin Buildtech Pvt Ltd              LT Bk Fac          CARE B         73.3
Issuer not cooperating; Based on best available information
Pvn Constructions                     Long -term Bk Fac  CARE B+        50
Issuer not cooperating
Pvn Constructions                     Long –term/ST Bk   CARE B+/A4     50
                                      Fac
Issuer not cooperating
R.D. Forge (Unit Of Rd Chemicals Pvt  LT Bk Fac          CARE BB-       100     Reaffirmed
Ltd)
Rama Agro Industries                  LT/ST Bk Fac       CARE B/A4      60      Assigned
Religare Finvest Ltd                  LT Debt/NCDs       Withdrawn      -
Revised from CARE BBB (Credit watch with developing implications) to CARE BBB-; and Rating
Withdrawn
Renu Electronics Pvt Ltd              LT Bk Fac          CARE BB        38.6    Assigned
Renu Electronics Pvt Ltd              LT/ST Bk Fac       CARE BB/A4     130     Assigned
Shiv Shakti Knit Fabs                 LT Bk Fac          CARE BB-       123.4
Revised from CARE B+; (reduced from Rs.13.47 Crore)
Shri Keshav Cements And Infra Ltd     LT Bk Fac          -              -       Withdrawn
Shri Ram Panels                       LT Bk Fac          CARE BB-       120     Assigned
Smart Stainless Tubes Pvt Ltd         LT Bk Fac          CARE BB        112.2   Assigned
Steelman Industries                   Long –term Bk Fac  CARE BB-       65      Assigned
Suman Jewellery                       LT Bk Fac          -              -       Withdrawn
The Heaven                            LT Bk Fac          CARE B         75      Assigned
Umang Oils Pvt Ltd                    LT Bk Fac          CARE BB-       100     Assigned
Vidhata Associates                    LT Bk Fac          CARE BB-       55
Issuer not cooperating Based on best available information
Vidhata Associates                    LT/ ST Bk Fac      CARE BB-/A4    110
Issuer not cooperating Based on best available information
Vimit Metals And Infrastructure Pvt LtLT Bk Fac          CARE B         43.9
Revised from CARE B+; Issuer not cooperating, based on best available information
Viswabharathi Educational Society     LT Bk Fac          CARE D         1665
Revised from CARE B+
--------------------------------------------------------------------------------------------
$: 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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