June 17, 2019 / 9:38 AM / a month ago

CARE ratings for Indian debt instruments-Jun 17

   Jun 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 14, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ahitri Spinning Mills Pvt Ltd         ST Bk Fac          CARE A4        13.5    -
Issuer not co operating;Based on best available information
Alpine International                  ST Bk Fac          CARE A4        26.6    -
(Issuer not cooperating); Based on best available information

Bsk Agrofeeds Pvt Ltd                 ST Bk Fac          CARE A4        4.7     Assigned
Cms Associates Pvt Ltd                ST Bk Fac          CARE A4+       48      Assigned
Deep Lumbers Pvt Ltd                  ST Bk Fac          CARE A4        75      -
(Issuer not cooperating); Based on best available information
Deep Timbers Pvt Ltd                  ST Bk Fac          CARE A4        75      -
(Issuer not cooperating); Based on best available information
Jpl Industries Ltd                    ST Bk Fac          CARE A4+       2       -
(Issuer not cooperating);Based on best available information
Jyoti Enterprises                     ST Bk Fac          CARE A4        35      -
(Issuer not cooperating); Based on best available information
Kuber Casting Pvt Ltd                 ST Bk Fac          CARE A4        35      -
(Issuer not cooperating); Based on best available information
Mittal Filaments Pvt Ltd              ST Bk Fac          CARE A4        2.5     -
(Issuer not cooperating); Based on best available information
Navkar Builders Ltd                   ST Bk Fac*         CARE A4+       140     Revised from
                                                                                CARE A4 
(Removed from Issuer Not cooperating)
(Issuer not cooperating); (enhanced from 11.00 Crore). 
*Rating assigned to the Short Term Bank Facilities (Letter for Credit) stands 
withdrawn as it is surrendered by Navkar Builders Limited (NBL) 
New Baroma Food Product               ST Bk Fac          CARE A4        4       Assigned
Nextra Teleservices Pvt Ltd           ST Bk Fac          CARE A4        5       -
(Issuer not cooperating)Based on best available information
Omega Bright Steel Pvt Ltd            ST Bk Fac          CARE A3        1       Assigned
Oracle Polymer Industries Pvt Ltd     ST Bk Fac          CARE A4        1       -
(Issuer not cooperating), Based on best available information
Proodle Hospitality Services Pvt Ltd  ST Bk Fac          CARE A4        5       Assigned
R R Stones Pvt Ltd                    ST Bk Fac          CARE A4        70      -
(Issuer not cooperating), Based on best available information
Sri Venkata Srinivasa Polymers Pvt LtdST Bk Fac          CARE A4        36      Assigned
Sriam Labs Pvt Ltd                    ST Bk Fac LOC (ii) CARE A1+ (SO)  50      Reaffirmed
(Reduced from 7.50 Crore)
Sriam Labs Pvt Ltd                    ST Bk Fac Forward  CARE A3        2       Reaffirmed;
                                      Contract (III                             Withdrawn
                                      )ST Bk Fac BG
(Reduced from 0.60 Crore)-
Teknovation Engineers Pvt Ltd         ST Bk Fac          CARE D         14      Assigned
Universal Exports                     ST Bk Fac          CARE A4        65      Revised from
                                                                                CARE A4
(Issuer not cooperating)


LONG TERM RATINGS:
-------------------
Ahitri Spinning Mills Pvt Ltd         LT Bk Fac          CARE B+        190     -
Issuer not co operating;Based on best available information
Alpine International                  LT Bk Fac          CARE B+        35.1    -
(Issuer not cooperating); Based on best available information
Amritsar Swadeshi Textile Corporation LT Bk Fac          CARE B+        86.6    -
Pvt Ltd
(Issuer not cooperating);Revised from CARE BB-
Bajaj Alloys                          LT Bk Fac          CARE B         50      -
(Issuer not cooperating); Revised from CARE B+
Bank Of Baroda                        Upper Tier II      -              -       Withdrawn
                                      Bonds (Series XI)
Brijlal Hospital And Research Center  LT Bk Fac          CARE BB-       149.8   -
Pvt Ltd
(Issuer not cooperating)Revised from CARE BB
Bsk Agrofeeds Pvt Ltd                 LT Bk Fac          CARE B         96.2    Assigned
Cms Associates Pvt Ltd                LT Bk Fac          CARE BB-       30      Assigned
Deep Lumbers Pvt Ltd                  LT Bk Fac          CARE B-        15      -
(Issuer not cooperating); Revised from CARE B
Deep Timbers Pvt Ltd                  LT Bk Fac          CARE B-        30      -
(Issuer not cooperating); Revised from CARE B; Stable;
Frystal Pet Pvt Ltd                   LT BkFac           CARE B         120     -
(Issuer not cooperating); Revised from CARE B+
Gwet Cold Chain Pvt Ltd               LT BkFac           CARE B         359.8   -
(Issuer not cooperating); on the basis of best available information
Igloo Frozen Foods Pvt Ltd            LT Bk Fac          CARE B         100     Assigned
Jain Prints And Packaging             LT Bk Fac          CARE B         80      -
(Issuer not cooperating); Based on best available information
Jalan Transolutions (India) Ltd.      LT BkFac           CARE D         535     Revised from
                                                                                CARE BB
Revised from CARE BB; (Issuer not cooperating);
Jpl Industries Ltd                    LT Bk Fac          CARE BB+       86.1    -
(Issuer not cooperating);Based on best available information
Jyoti Enterprises                     LT Bk Fac          CARE B+        45      -
(Issuer not cooperating); Based on best available information
Kuber Casting Pvt Ltd                 LT Bk Fac          CARE B+        35      -
(Issuer not cooperating); Revised from CARE BB-
Kuber Casting Pvt Ltd                 LT Bk Fac/ ST Bk   CARE B+/A4     15      -
                                      Fac
(Issuer not cooperating); Revised from CARE BB-/ CARE A4;
L.S. Rice Exports Pvt Ltd             LT Bk Fac          CARE B+        48.3    -
(Issuer not cooperating), Based on best available information
Manikyam Poultry Farm                 LT Bk Fac          CARE B+        100     -
(Issuer not cooperating); Based on best available information
Marvest Aqua Protein Pvt Ltd          Long -term Bk Fac  CARE B+        61.6    -
(Issuer not cooperating); Based on best available information
Mittal Filaments Pvt Ltd              LT Bk Fac          CARE BB-       109     -
(Issuer not cooperating); Based on best available information
Mittal Forgings And Components Pvt Ltd LT Bk Fac         CARE BB-       59.2    -
(Issuer not cooperating); Revised from CARE BB
Nagayya Makkimane Shetty              LT Bk Fac          CARE B+        50      -
(Issuer not cooperating); Based on best available information
Naman Associates                      LT Bk Fac          -              -       Withdrawn
Navkar Builders Ltd                   LT Bk Fac          CARE BB+       85      -
Revised from CARE BB-; and removed from (Issuer not cooperating) ; (reduced from 13.00 Crore)
New Baroma Food Product               LT Bk Fac          CARE B+        73.3    Assigned
Nextra Teleservices Pvt Ltd           LT Bk Fac          CARE B         170     -
(Issuer not cooperating);Revised from CARE B+;
Nlc India Ltd                         LT Bk Fac          CARE AAA       28389   Reaffirmed
(enhanced from Rs.1,838.90 crore Crore)
Om Sai Resorts                        LT Bk Fac          CARE B         58      Assigned
Om Sai Resorts                        Proposed-LT BkFac  CARE B         2       Assigned
Omega Bright Steel Pvt Ltd            LT Bk Fac          CARE BBB-      30      Assigned
Omega Bright Steel Pvt Ltd            LT/ STBk Fac       CARE BBB-/CARE 69      Assigned
                                                         A3
Oracle Polymer Industries Pvt Ltd     LT Bk Fac          CARE B+        93.4    -
(Issuer not cooperating) Revised from CARE BB-
Pansari Steels Pvt Ltd                LT Bk Fac          CARE B         60      -
(Issuer not cooperating), Based on best available information
Pansari Steels Pvt Ltd                LT/ST Bk Fac       CARE B /CARE A420      -
(Issuer not cooperating), Based on best available information
Perigee Infratech Pvt Ltd             LT Bk Fac (TL)     -              -       Withdrawn
Proodle Hospitality Services Pvt Ltd  LT Bk Fac          CARE BB-       54.8    Assigned
R R Stones Pvt Ltd                    LT Bk Fac          CARE B+        140     -
(Issuer not cooperating), Based on best available information
R. Ayush Enterprises                  LT Bk Fac          CARE B         100     -
(Issuer not cooperating), Based on best available information
Ram Nath Memorial Trust Society       LT Bk Fac          CARE D         201.5   -
(Issuer not cooperating), Based on best available information
Republic Auto Sales                   LT BkFac           CARE B         112.5   -
(Issuer not cooperating); Revised from CARE B+
Rise Projects Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Rjp Technologies Pvt Ltd              LT Bk Fac          CARE B+        120     -
(Issuer not cooperating), Based on best available information
S.C. Enterprises                      LT Bk Fac          CARE D         50      -
(Issuer not cooperating), Based on best available information
Shree Ganesh Education And Welfare    LT Bk Fac          CARE D         70      -
Society
(Issuer not cooperating); Revised from CARE B+;
Shri Ram Charitable Trust             LT BkFac           CARE BB-       136.3   -
(Issuer not cooperating);Revised from CARE BB
Small Industries Development Bank Of  LT Bk Fac          CARE AAA       300000  Reaffirmed
India
(Enhanced from Rs.5,000 crore Crore)
Sree Rajyalakshmi Raw And Boiled Rice LT Bk Fac          CARE B         75      -
Mill
(Issuer not cooperating) Revised from CARE B+;
Sri Bajrang Seeds                     LT Bk Fac          CARE B         120     -
(Issuer not cooperating); Revised from CARE B+;
Sri Venkata Srinivasa Oils Pvt Ltd    LT Bk Fac          CARE BB        175.2   Assigned
Sri Venkata Srinivasa Polymers Pvt Ltd LT Bk Fac         CARE BB-       148.7   Assigned
Sriam Labs Pvt Ltd                    LT Bk Fac –        CARE AA- (SO)  150     Reaffirmed
                                      CashCredit (i)
(Reduced from 20.00 Crore)
Stage Door                            LT Bk Fac          CARE B-        80      -
(Issuer not cooperating);Based of best available information
Teknovation Engineers Pvt Ltd         LT Bk Fac          CARE D         54.4    Assigned
Tommy Hilfiger Arvind Fashion Pvt Ltd LT BkFac           CARE A+        650     Reaffirmed
(enhanced from Rs.45.00 crore Crore)
Vikas Chain And Jewellery Pvt Ltd     LT Bk Fac          CARE B         117.5   -
(Issuer not cooperating); 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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