June 29, 2020 / 11:34 AM / 7 days ago

CARE ratings for Indian debt instruments-Jun 29

    Jun 29  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of June 26 and 27, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agh Wires Pvt Ltd                    ST Bk Fac         CARE D;       21.6
(Issuer not cooperating; based on best available information)
Antik                                ST BkFac          CARE A4;      1.5
(Issuer not cooperating; based on best available information)
Axtel Industries Ltd                 ST BkFac          CARE A3+      80     Reaffirmed
(Removed from Issuer Not cooperating)
Banna Lal Jat Constructions Pvt Ltd  ST Bk Fac         CARE D;       240    Revised from
                                                                            CARE A4;
(Issuer not cooperating; on the basis of best available information)
Bharat Heavy Electricals Ltd         CP issue*         CARE A1+      80000  Reaffirmed
*Rs.3,000 crore can be carved out of fund based working capital limits of the company.
Bharat Petroleum Corporation Ltd     CP                CARE A1+      135000 Reaffirmed
Dutta Agro Plantations Pvt Ltd       ST Bk Fac         CARE D        3.5    Revised from
                                                                            CARE D
(Issuer not cooperating; based on best available information)
Goel Scientific Glass Works Ltd      ST Bk Fac         CARE A4;      25
(Issuer not cooperating; based on best available information)
Janam Diamonds Pvt Ltd               ST BkFac          CARE A4;      140
(Issuer not cooperating; based on best available information)
Jio Digital Fibre Pvt Ltd            CP                CARE A1+      50000  Reaffirmed
Maspack Industries                   ST Bk Fac         CARE A4;      1.5
(Issuer not cooperating; based on best available information)
Mayurakshi Cold Storage Pvt Ltd      ST BkFac          CARE A4       2.1    Reaffirmed
Narmada Extrusions Ltd               ST BkFac          CARE A4;      652.5
(Issuer not cooperating; on the basis of best available information)
Pharma Impex Laboratories Pvt Ltd    ST Bk Fac         CARE A4       20     Assigned
Rr Prestress Industries              ST Bk Fac         CARE A4;      24.5
(Issuer not cooperating; based on best available information)
Saboo Engineers Pvt Ltd              ST Bk Fac         CARE A4;      60
(Issuer not cooperating; based on best available information)
Sigma Industrial Corporation         ST Bk Fac         CARE D;       100
(Issuer not cooperating; based on best available information)
Sharma East India Hospitals And      ST Bk Fac         CARE A4;      2
Medical Research Ltd
(Issuer not cooperating; based on best available information)
Texmaco Rail & Engineering Ltd       ST Bk Fac         CARE A2       50     Revised from
                                                                            CARE A1
Insco Steels Pvt Ltd                 ST Bk Fac         CARE D;       2250   Revised from
                                                                            CARE A4,
(Issuer not cooperating; based on best available information)
Jaycee Steels Pvt Ltd                ST Bk Fac         -             -      Reaffirmed at
                                                                            CARE A4;and
                                                                            Withdrawn
(Issuer not cooperating)
Kashmiri Lal Constructions Pvt Ltd   ST Bk Fac         -             -      CARE A4+ and
                                                                            Withdrawn
(Issuer not cooperating)
Mega Process Technology Pvt Ltd      ST Bk Fac         -             -      Withdrawn
Prince Marine Transport Services Pvt ST Bk Fac         CARE D;       30
(Issuer not cooperating; based on best available information)
Ramniklal And Sons                   ST Bk Fac         CARE D;       60
(Issuer not cooperating; based on best available information)
S. S. Fabricators And Manufacturers  ST Bk Fac         -             -      Reaffirmed at
                                                                            CARE A4; and
                                                                            Withdrawn
(Issuer not cooperating)
Utkarsh India Ltd                    ST BkFac          CARE A4+;     302.2  Revised from
                                                                            CARE A3+
(Issuer not cooperating; on the basis of best available information)

LONG TERM RATINGS:
-------------------
Ace Infracity Developers Pvt Ltd     Fund Based- Bk    CARE BB+;     890    Reaffirmed
                                     Fac- LT- TL       Stable
(reduced from 100.00 Crore)
Adarsh Transformers Pvt Ltd          LT Bk Fac         -             0      Withdrawn
Adarsh Transformers Pvt Ltd          LT/ST BkFac       CARE B-;      49     Revised from
                                                       Stable/CARE A4       CARE D
Issuer Not Cooperating and Non Cooperation revoked
Adarsh Transformers Pvt Ltd          LT Bk Fac         CARE A4       2.8    Revised from
                                                                            CARE A4;
Issuer Not Cooperating and Non Cooperation revoked
Agh Wires Pvt Ltd                    LT Bk Fac         CARE D;       107.3
(Issuer not cooperating; based on best available information)
Antik                                LT BkFac          CARE B;Stable;37.7   Revised from
                                                                            CARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Avk Automart Pvt Ltd                 LT Bk Fac         CARE D;       84.4
(Issuer not cooperating; based on best available information)
Axtel Industries Ltd                 LT/ ShortTerm Bk  CARE BBB;     120    Reaffirmed
                                     Fac               Stable/CARE A3+
(Removed from Issuer Not cooperating)
Banna Lal Jat Constructions Pvt Ltd  LT Bk Fac         CARE D;       40     Revised from
                                                                            CARE BB-;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Bharat Heavy Electricals Ltd         Bk Fac – FB – LT –CARE AA; Stabl60000  Revised from
                                     CC                                     AA+; Stable
Bharat Heavy Electricals Ltd         Bk Fac –          CARE AA;      540000 Revised from
                                     Non-fundbased –   Stable/CARE A1+      AA+; Stable/
                                     LT/ST – BG/LC                          CARE A1+
Bharat Petroleum Corporation Ltd     NCDs              CARE AAA      5500   -
(Continues on credit watch with developing implications )
Bharat Petroleum Corporation Ltd     NCDs              CARE AAA      7500   -
(Continues on credit watch with developing implications )
Bharat Petroleum Corporation Ltd     NCDs              CARE AAA      10000  -
(Continues on credit watch with developing implications )
Bharat Petroleum Corporation Ltd     NCD (Proposed)    CARE AAA      5000   -
(Continues on credit watch with developing implications )
Bharat Petroleum Corporation Ltd     NCD (Proposed)    CARE AAA      25000  Assigned
(placed on credit watch with developing implications )
Chirayu Charitable Foundation        LT/ STBk Fac      CARE B/CARE   95
                                                       A4;
(Issuer not cooperating; based on best available information)
Chirayu Charitable Foundation        LT Bk Fac         CARE B;       860.9
(Issuer not cooperating; based on best available information)
Dutta Agro Plantations Pvt Ltd       LT Bk Fac         CARE D        88.9   Revised from
                                                                            CARE D
(Issuer not cooperating; based on best available information)
Eefco Metals & Powders Pvt Ltd       LT BkFac          CARE BB;      82     Revised from
                                                       Negative             CARE BB;
                                                                            Stable
(enhanced from 5.72 Crore)
Fouzdar Cars Pvt Ltd                 LT/STBk Fac       CARE B-;      20     Revised
                                                       Stable/CARE A4;      fromCARE B+;
                                                                            Stable/ CARE A4
(Issuer not cooperating; on the basis of best available information)
Fouzdar Cars Pvt Ltd                 LT BkFac          CARE B-;      50     Revised
                                                       Stable;              fromCARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
G.Parandhamaiah And Company Cotton   LT Bk Fac         CARE B-;Stable80     Revised from
Ginning Mills                                                               CARE B;
(Issuer not cooperating; based on best available information)
Goel Scientific Glass Works Ltd      LT Bk Fac         CARE B+;      39.9   Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Honey Overseas                       LT/STBk Fac       CARE B/CARE   80     Revised from
                                                       A4;                  CARE BB-;
                                                                            Stable/ CARE A4
(Issuer not cooperating; on the basis of best available information)
India Home Loan Ltd                  NCDs              CARE BBB-;    500    Assigned
                                                       Negative
Insco Steels Pvt Ltd                 LT Bk Fac         CARE D ;      250    Revised from
                                                                            CARE BB-;
                                                                            Stable
(Issuer not cooperating; based on best available information)
Janam Diamonds Pvt Ltd               LT BkFac          CARE B+;      185    Revised from
                                                       Stable;              CARE BB-
(Issuer not cooperating; based on best available information)
Jaycee Steels Pvt Ltd                LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE B;
                                                                            Stable; and
Withdrawn
(Issuer not cooperating)
Jio Digital Fibre Pvt Ltd            LT Bk Fac         CARE AAA;     401000 Reaffirmed
                                                       Stable
Kashmiri Lal Constructions Pvt Ltd   LT Bk Fac/ ST Bk  -             -      Reaffirmed at
                                     Fac                                    CARE BB+;
                                                                            Stable/CARE A4+ and
                                                                            Withdrawn
(Issuer not cooperating)
Kavita Exim Pvt Ltd                  LT Bk Fac         CARE D;       120    Revised form
                                                                            CARE B; Stable
(Issuer not cooperating; on the basis of best available information)
Maini Construction Equipments Pvt LtdLT Bk Fac         CARE D;       90
(Issuer not cooperating; based on best available information)
Maini Construction Equipments Pvt LtdST Bk Fac         CARE D;       19
(Issuer not cooperating; based on best available information)
Maspack Industries                   LT Bk Fac         CARE B;       53.6   Revised from
                                                       Stable;              CARE B+;Stable
(Issuer not cooperating; based on best available information)
Mayurakshi Cold Storage Pvt Ltd      LT BkFac          CARE B+;      68.6   Reaffirmed
                                                       Stable
(reduced from 6.97 Crore)
Mohini Health & Hygiene Ltd          LT Bk Fac         CARE BB+;     200
                                                       Stable;
(Issuer not cooperating; based on best available information)
Narmada Extrusions Ltd               LT BkFac          CARE B;       136.9  Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Oopal Diamond                        LT Bk Fac         CARE B+;      -      Revised from
                                                       Stable               CARE BB;
                                                                            Stable,
(Issuer not cooperating; based on best available information)
Origin Formulations Pvt Ltd          LT Bk Fac         CARE D;       274
(Issuer not cooperating; based on best available information)
Pack Paper Agencies Pvt Ltd          LT/ST BkFac       CARE B+/CARE  105    Revised from
                                                       A4;                  CARE BB-/
                                                                            CARE A4
(Issuer not cooperating; based on best available information)
Paramount Chempro                    LT BkFac          CARE D;       70     Revised from
                                                                            CARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Pawan Kumar Kanoi                    Long -term Bk Fac CARE BB+;     120    Revised from
                                                       Stable               CARE BB-;
                                                                            Stable
(Removed from Issuer Not Cooperating)
Pharma Impex Laboratories Pvt Ltd    LT Bk Fac         CARE BB;      240.6  Assigned
                                                       Stable
Prince Marine Transport Services Pvt LT Bk Fac         CARE D;       63.2
(Issuer not cooperating; based on best available information)
Rajeshree Cotex                      LT/ST Bk Fac      CARE D/CARE D;180
(Issuer not cooperating; based on best available information)
Rajeshree Cotex                      LT Bk Fac         CARE D;       100
(Issuer not cooperating; based on best available information)
Rajeshree Fibers                     LT Bk Fac         CARE D;       80
(Issuer not cooperating; based on best available information)
Rajeshree Industries India Pvt Ltd   LT Bk Fac         CARE D;       220
(Issuer not cooperating; based on best available information)
Ramniklal And Sons                   LT Bk Fac         CARE D;       170
(Issuer not cooperating; based on best available information)
Ramswaroop Shivhare                  LT / Short- term  CARE B-/CARE  50     Revised from
                                     Bk Fac            A4;                  CARE B+/ CARE
                                                                            A4
(Issuer not cooperating; on the basis of best available information)
Ramswaroop Shivhare                  LT BkFac          CARE B-;      50     Revised from
                                                                            CARE B+
(Issuer not cooperating; on the basis of best available information)
Reliance Jio Infratel Pvt Ltd        LT Bk Fac         CARE AAA;     199000 Final Rating
                                                       Stable
Rr Prestress Industries              LT Bk Fac         CARE B ;      40     Revised from
                                                       Stable;              CARE B+ ;
                                                                            Stable;
(Issuer not cooperating; on the basis of best available information)
S. S. Fabricators And Manufacturers  LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE
                                                                            BB;Stable; and
                                                                            Withdrawn
(Issuer not cooperating)
Saboo Engineers Pvt Ltd              LT / STBk Fac     CARE C;       120    Revised from
                                                       Stable/CARE A4;      CARE B+;
                                                                            Stable;/CARE A4
(Issuer not cooperating; on the basis of best available information)
Sachin Agro Foods Llp                LT BkFac          CARE B-;      150    Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
Sagar Fibers Pvt Ltd                 LT BkFac          CARE B-;      70     Revised from
                                                       Stable;              CARE B; Stable
(Issuer not cooperating; on the basis of best available information)
Satin Finserv Ltd                    NCDs (Proposed)   CARE A- (CE); 250    Assigned
                                                       Stable #
                                                       (Credit Enhancement);
#Provisional rating based on proposed credit enhancement in the form of unconditional and
irrevocable corporate guarantee to be given by SCNL 
Satin Finserv Ltd                    NCDs (Proposed)   CARE A- (CE); 50     Assigned
                                                       Stable @
                                                       (Credit Enhancement)
@Backed by credit enhancement in the form of unconditional and irrevocable corporate guarantee
given by Satin Creditcare Network Limited (SCNL) 
Sharma East India Hospitals And      LT Bk Fac         CARE BB-;     141.3
Medical Research Ltd                                   Stable;
(Issuer not cooperating; based on best available information)
Shradha Agencies Pvt Ltd             LT Bk Fac         CARE D;       280
(Issuer not cooperating; based on best available information)
Shri Shikharjee Rice Oil Llp         LT BkFac          CARE B; Stable117.5  Revised
                                                                            fromCARE
                                                                            B+;Stable
(Issuer not cooperating; on the basis of best available information)
Sigma Industrial Corporation         LT Bk Fac         CARE D;       100
(Issuer not cooperating; based on best available information)
Texmaco Rail & Engineering Ltd       LT Bk Fac         CARE A-;      6766.3 Revised from
                                                       Stable               CARE A+;
                                                                            Stable
(reduced from 748 Crore)
Texmaco Rail & Engineering Ltd       LT/STBk Fac       CARE A-;      19069.9Revised from
                                                       Stable/CARE A2       CARE A+;
                                                                            Stable/CARE A1
(reduced from 1,911.99 Crore)
Utkarsh India Ltd                    Long/ST BkFac     CARE BB+;     1250   Revised from
                                                       Stable/CARE          CARE BBB;
                                                       A4+;                 Stable/CARE A3+
(Issuer not cooperating; on the basis of best available information)
Utkarsh India Ltd                    LT BkFac          CARE BB+;     840    Revised from
                                                       Stable;              CARE BBB;
                                                                            Stable
(Issuer not cooperating; on the basis of best available information)
V. D. Motors Pvt Ltd                 LT Bk Fac         CARE B+;      180    Revised from
                                                       Stable               CARE B; Stable
(Issuer not cooperating; based on best available information)
--------------------------------------------------------------------------------------------
$: 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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