June 18, 2019 / 4:44 AM / a month ago

CARE ratings for Indian debt instruments-Jun 18

    Jun 18 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 17, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Baharampur Mini Rice Mill             ST BkFac           CARE A4        0.5
(Issuer Not Cooperating)
Elkosta Security Systems India        ST Bk Fac          CARE A4        30
(Issuer Not Cooperating)
Iclean Hollow Metal Systems Pvt Ltd   ST Bk Fac@         CARE A2+ (SO)  60      Reaffirmed
(Enhanced from 4.00 Crore)/@ backed by the unconditional and irrevocable corporate guarantee
provided by Integrated Cleanroom Technologies Private Limited (rated ‘CARE A; Stable/CARE A2+’).
Jugalkishore Ramkishan Agrawal        ST BkFac           CARE A4+       100
Infrastructure Pvt Ltd
(Issuer Not Cooperating)
New Manasa Mata Foods                 ST BkFac           CARE A4        4.5
(Issuer Not Cooperating)
P.G. Setty Construction Technology PvtST BkFac           CARE A4        150
Ltd
(Issuer Not Cooperating)
Sanmar Matrix Metals Ltd              ST Bk Fac          CARE A1 (SO)   100     Reaffirmed
Sintex-Bapl Ltd                       ST BkFac           CARE A4        2500
(Issuer Not Cooperating)
Sns Starch Ltd                        ST Bk Fac          -              -       Withdrawn
Sri Vinay Agro Rice Industries        ST Bk Fac          CARE A4        1.6
(Issuer Not Cooperating)
Star Paper Mills Ltd                  ST Bk Fac          CARE A4+       100
(Issuer Not Cooperating)
Swastik Copper Pvt Ltd                ST Bk Fac          -              -       Withdrawn
Umesh Shetty                          ST Bk Fac          CARE A4        2.5
(Issuer Not Cooperating)
Vanamaali Infra Pvt Ltd               ST Bk Fac          CARE A4        80
(Issuer Not Cooperating)

LONG TERM RATINGS:
-------------------
Abhigna Rice And Paraboiled Rice      LT Bk Fac          CARE B         55      Revised from
Industries                                                                      CARE B+
(Issuer Not Cooperating)
Agra Ice Factory And Cold Storage     LT Bk Fac          CARE B+        74
(Issuer Not Cooperating)
Avinash Transport                     LT BkFac           CARE B+        99.5    Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Baharampur Mini Rice Mill             LT BkFac           CARE B         53      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Bajaj Agro Industries                 LT BkFac           CARE D         77.1
(Issuer Not Cooperating)
Bhagirathi Rice Mill                  LT Bk Fac          CARE B+        70      Revised from
                                                                                CARE BB-
Dbl Borgaon Watambare Highways Pvt LtdLT Bk Fac (TL)     CARE A         3104    Reaffirmed
Dbl Borgaon Watambare Highways Pvt LtdLT Bk Fac (BG)     CARE A         514.7   Reaffirmed
Elkosta Security Systems India        LT Bk Fac          CARE B         70
(Issuer Not Cooperating)
Elkosta Security Systems India        LT / ST Bk Fac     CARE B/A4      50
(Issuer Not Cooperating)
Golden Agri Resources (India) Pvt Ltd LT/STBk Fac*       CARE A         2550    Reaffirmed
                                                         (SO)/A2+ (SO)
(reduced from 270.00 Crore)*backed by unconditional & irrevocable corporate guarantee provided
by Golden Agri Resources Limited (GARL), Mauritius 
Iclean Hollow Metal Systems Pvt Ltd   LT Bk Fac@         CARE A (SO)    100     Reaffirmed
(Enhanced from 8.00 Crore)/@ backed by the unconditional and irrevocable corporate guarantee
provided by Integrated Cleanroom Technologies Private Limited (rated ‘CARE A; Stable/CARE A2+’).
Jagatjit Industries Ltd.              LT BkFac           CARE D         900     Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Jagatjit Industries Ltd.              LT/ STBk Fac       CARE D         200     Revised from
                                                                                CARE B+ /CARE
                                                                                A4
(Issuer Not Cooperating)
Janani Agro Industries                LT Bk Fac          CARE B         63.2    Assigned
Jugalkishore Ramkishan Agrawal        LT BkFac           CARE BB+       100
Infrastructure Pvt Ltd
(Issuer Not Cooperating)
Karnataka Poultry Farm                LT CC              CARE BB+       210
(Issuer Not Cooperating)
Krantiagrani Dr G. D. Bapu Lad SahakarLT BkFac           CARE B+        139.9   Revised from
Sakahar Karkhana Ltd                                                            CARE BB-
(Issuer Not Cooperating)
Mak Hospitals Pvt Ltd                 Long -term Bk Fac  CARE B         120     Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Manjeet Singh Bhatia                  LT Bk Fac          CARE D         80.7    Revised from
                                                                                CARE BB
(reduced from 8.69 Crore)
Manjeet Singh Bhatia                  Long/ ST Bk Fac    CARE D /D      174.6   Revised from
                                                                                CARE BB/ CARE
                                                                                A4
New Manasa Mata Foods                 LT BkFac           CARE B         71.6    Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Nirman-Rajasthan                      LT Bk Fac          CARE B+        20
(Issuer Not Cooperating)
Nirman-Rajasthan                      LT/ST Bk Fac       CARE B+/A4     50
(Issuer Not Cooperating)
Nri Agritech Pvt Ltd                  LT Bk Fac          CARE B+        120
(Issuer Not Cooperating)
P.G. Setty Construction Technology PvtLong -term BkFac   CARE B         135.7
Ltd
(Issuer Not Cooperating)
Paisabuddy Finance Pvt Ltd            LT Bk Fac          CARE BB-       100     Assigned
Pashupati Veneer                      LT Bk Fac          -              -       Withdrawn
Prasad Education Trust                LT Bk Fac          CARE D         438.2
(Issuer Not Cooperating)
Prefect Packaging Pvt Ltd             LT Bk Fac          CARE BB-       112.6   Reaffirmed
R.S. Enterprises                      LT Bk Fac          CARE B         90
(Issuer Not Cooperating)
Sanmar Matrix Metals Ltd              LT Bk Fac          CARE A (SO)    1146.6  Reaffirmed
(enhanced from 76.77 Crore)
Sanmar Matrix Metals Ltd              LT /ST BkFac       CARE A         350     Reaffirmed
                                                         (SO)/CARE A1
                                                         (SO)
(enhanced from 10.00 Crore)
Sanmar Shipping Ltd                   LT Bk Fac          CARE A-        1790.9  Reaffirmed
(enhanced from 76.93 Crore)
Shakthi Seeds Pvt Ltd                 LT Bk Fac          CARE B         80
(Issuer Not Cooperating)
Sheva Shevani Cotton Industries       LT Bk Fac          CARE BB-       76.5    Assigned
Shiv Polymers Industries              LT Bk Fac          -              -       Withdrawn
Shiva Om Agro Industries              LT Bk Fac          CARE B+        50
(Issuer Not Cooperating)
Sintex-Bapl Ltd                       LT BkFac           CARE C         8106.8  Revised from
                                                                                CARE BB+
(Issuer Not Cooperating)
Sintex-Bapl Ltd                       NCDs (NCD)         CARE C         2000    Revised from
                                                                                CARE BB+
(Issuer Not Cooperating)
Skyone Airways Pvt. Ltd.              LT Bk Fac          CARE BB+       700     Assigned
                                      (Proposed)
Sns Starch Ltd                        LT Bk Fac          -              -       Withdrawn
Sri Kaveri Cotton Industries          LT Bk Fac          CARE B         149.6   Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Sri Pushpavathi Agro-Tech Pvt Ltd     LT Bk Fac          CARE B+        90
(Issuer Not Cooperating)
Sri Ramachandra Pooja Industries      LT Bk Fac          CARE B+        100     Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Sri Seetarama Agro Industries         LT Bk Fac          CARE B+        124.5   Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Sri Vinay Agro Rice Industries        LT Bk Fac          CARE B+        76.4
(Issuer Not Cooperating)
Star Paper Mills Ltd                  LT Bk Fac          CARE BB+       190
(Issuer Not Cooperating)
Swastik Copper Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Ujala Minerals                        LT BkFac           CARE B         150
(Issuer Not Cooperating)
Umesh Shetty                          LT Bk Fac          CARE B+        59.1
(Issuer Not Cooperating)
Vanamaali Infra Pvt Ltd               LT Bk Fac          CARE B+        10
(Issuer Not Cooperating)
Velko Infratek Projects Pvt Ltd       LT Bk Fac          CARE BB+       166.2   Revised from
                                                                                CARE BB+
(Issuer Not Cooperating)/(enhanced from 6.00 Crore)
Velko Infratek Projects Pvt Ltd       LT/ST Bk Fac       CARE BB+/A4+   435.3   Revised from
                                                                                CARE BB+ /
                                                                                CARE A4+
(Issuer Not Cooperating)/(enhanced from 15.00 Crore)
Vidhya Peeth Education Trust          LT BkFac           CARE BB-       158.9   Revised from
                                                                                CARE BB
(Issuer Not Cooperating)
--------------------------------------------------------------------------------------------
$: 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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