June 20, 2018 / 6:29 AM / 5 months ago

CARE ratings for Indian debt instruments-Jun 20

   Jun 20 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of June 19, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Bangera Seaworld Pvt Ltd              ST Bk Fac          CARE A4        100     Assigned
Bharat Rasayan Ltd                    CP (CP) Issue      CARE A1+       400     Reaffirmed
Bharat Rasayan Ltd                    CP (CP) Issue*     CARE A1+       600     Reaffirmed
*carved out of sanctioned working capital limits of the company

Bharati Motors Pvt Ltd                ST Bk Facility     CARE A4        7       Assigned
Jogani Exports                        ST Bk Fac          CARE A4+       300     Issuer not
                                                                                cooperating;
                                                                                Based on the 
                                                                                best available
                                                                                information
Kaushalya Estate Pvt Ltd              ST Bk Facility     CARE A4        117.9   Assigned
Radiant Bar Ltd                       ST Bk Fac          CARE A4        25      Revised from
                                                                                CARE A4
Vishal Fashions Pvt Ltd               ST Bk Fac          -              -       Withdrawn


LONG TERM RATINGS:
-------------------
Badhri Spinning Mills Pvt Ltd         LT Bk Fac          CARE D         305.1   -
Issuer not cooperating; Based on no available information
Bangera Seaworld Pvt Ltd              LT Bk Fac          CARE BB        17.2    Assigned
Bharati Motors Pvt Ltd                LT Bk Fac          CARE BB        87.5    Assigned
Blue Blends (India) Ltd               Redeemable PS      CARE C         90      Revised from
                                                                                CARE BB
Cedar Inclusive Finance Trust 4       Series A1 PTC      CARE A- (SO)   269.3   -
(Originator: Esaf Small Finance Bank
Ltd)
Cedar Inclusive Finance Trust 4       Series A2 PTC      CARE BBB (SO)  7.2     -
(Originator: Esaf Small Finance Bank
Ltd)
Emperia Realty                        LT Bk Fac          CARE BB        150     Assigned
Godhani Impex                         LT Bk Fac          CARE BB+       200     Reaffirmed
Ibhfl Da Mar 12 III [Originator:      Assignee Payouts   -              -       Withdrawn
Indiabulls Housing Finance Ltd ]
Kaushalya Estate Pvt Ltd              LT Bk Fac          CARE B+        2.1     Assigned
Monalisa Ceramics India Pvt Ltd       LT Bk Fac          CARE BB-       150     Issuer not
                                                                                cooperating;
                                                                                Based on the 
                                                                                best available
                                                                                information
Ozone Infra Projects                  LT Bk Fac          CARE D         60      Revised from
                                                                                CARE BB-
Puru Mfi Northern Arc 2018 (OriginatorSeries A1 PTC      CARE A- (SO)   300     -
Village Financial Services Ltd)
Puru Mfi Northern Arc 2018 (Originator Series A2 PTC     CARE BBB- (SO) 17.6    -
Village Financial Services Ltd)
R. K. Infracorp Pvt Ltd               LT Bk Fac          CARE BBB+      280     Reaffirmed
R. K. Infracorp Pvt Ltd               LT/ ST Bk Fac      CARE BBB+/CARE 1200    Reaffirmed
                                                         A3+
Radiant Bar Ltd                       LT Bk Fac          CARE BB+       100     Revised from
                                                                                CARE BB
Ravi Renewable Energy And Lighting    LT Bk Fac          CARE BBB       390     Assigned
(India) Pvt Ltd
Ravi Renewable Energy And Lighting    LT / ST Bk Fac     CARE BBB/CARE  110     Assigned
(India) Pvt Ltd                                          A3+
Shivalik Engineering Industries Ltd   LT Bk Fac          -              -       Withdrawn
Shivalik Engineering Industries Ltd   LT Bk Fac          -              -       Withdrawn
Shivalik Power & Steel Pvt Ltd        LT Bk Fac          -              -       Withdrawn
Srinivasa Steel Products              LT Bk Fac          CARE D         92.5    -
Issuer not cooperating; Based on no available information
Tee Ventures India Pvt Ltd            LT Bk Fac          CARE B+        80      Reaffirmed
(Issuer Not Cooperating)
Urban Tree Infrastructures Pvt Ltd    LT Bk Fac          -              -       Withdrawn
Veekay Prints Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Vishal Fashions Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Western India Transport Finance Company NCD              CARE BBB-      250     Assigned
Pvt. Ltd.
--------------------------------------------------------------------------------------------
$: 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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