June 3, 2019 / 9:13 AM / 15 days ago

CARE ratings for Indian debt instruments-Jun 3

   Jun 3 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 31, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Adarsh Transformers Pvt Ltd           ST Bk Fac          CARE A4        2.8     Reaffirmed
                                                                                and removed
                                                                                from 
                                                                                Issuer Non
                                                                                Cooperation
Chaitanya International Minerals Llp  ST Bk Fac          CARE A4        20      -

(Issuer not cooperating); based on best available information
Jagdish Prasad Agarwal                ST Bk Fac          CARE A4        65      -
(Issuer not cooperating); based on best available information
Nair Coal Services Pvt Ltd            ST Bk Fac          CARE A4        90      Assigned
P. K. Udyog                           ST Bk Fac          CARE A4        143     Assigned
Premier Irrigation Adritec Pvt Ltd    ST Bk Fac          -              -       Withdrawn
Sprng Alt Energy Pvt Ltd              ST Bk Fac          -              -       Withdrawn
P.K. Thakur And Company Pvt Ltd       ST Bk Fac          CARE A4        55      -
(Issuer not cooperating); based on best available information
Prag Electricals Pvt Ltd              ST Bk Fac          CARE A4        100     -
(Issuer not cooperating); based on best available information
R T Rice Industries                   ST Bk Fac          CARE A4        50      -
(Issuer not cooperating); based on best available information
Kena Alloys Pvt Ltd                   ST Bk Fac          -              -       Withdrawn
S.S. Engineering Works                ST Bk Fac          CARE A4        25      -
(Issuer not cooperating); based on best available information
Ultra Fab India Pvt Ltd               ST Bk Fac          CARE A4        4       -
(Issuer not cooperating); based on best available information

LONG TERM RATINGS:
-------------------
Aavas Financiers Ltd                  NCDs               CARE AA-       3750    Assigned
Adarsh Transformers Pvt Ltd           LT Bk Fac          CARE BB-       0.4     Reaffirmed
                                                                                and removed
                                                                                from 
                                                                                Issuer Non
                                                                                Cooperation
Adarsh Transformers Pvt Ltd           LT/Shortterm Bk Fac CARE BB-      49      Reaffirmed
                                                         /CARE A4               and removed
                                                                                from 
                                                                                Issuer Non
                                                                                Cooperation
Anantjeet Nutriments Llp              LT Bk Fac-TL       CARE BB+       350     Assigned
Anantjeet Nutriments Llp              LT Bk Fac-CC       CARE BB+       30      Assigned
Aylabari Tea Company Pvt Ltd          LT Bk Fac          -              -       Withdrawn
Azen Medical Welfare And Research     LT Bk Fac          CARE D         168.5   -
Society
(Issuer not cooperating); based on best available information
Bakers Circle (India) Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Bakers Circle (India) Pvt Ltd         Long/ST Bk Fac     -              -       Withdrawn
Bg Wind Power Ltd                     NCDs               -              -       Withdrawn
Bhakti Infracon Llp                   LT Bk Fac          Revised        400     -
                                                         fromCARE BB-
(Issuer not cooperating); based on best available information
Capri Global Capital Ltd              NCDs               -              -       Withdrawn
Chaitanya International Minerals Llp  LT Bk Fac          CARE B+        80      -
(Issuer not cooperating); based on best available information
Coral Steel                           LT Bk Fac          CARE B+        30      -
(Issuer not cooperating); based on best available information
Eefco Metals Powders Pvt Ltd          LT Bk Fac          CARE BB        57.2    Reaffirmed
Indiabulls Asset Management Co. Ltd   Indiabulls Income  CARE A+mfs     -       -
                                      Fund
Rating placed on Notice of Withdrawal for 90 days
Indian Hydrocolloids                  LT / ST Bk Fac     CARE B+;       200     -
                                                         Stable /CARE A4
(Issuer not cooperating); based on best available information
Jagdish Prasad Agarwal                LT Bk Fac          CARE B         10      Revised from
                                                                                CARE B+
(Issuer not cooperating); based on best available information
Jyoti Plastic Works P Ltd             LT Bk Fac          -              -       Withdrawn
Jyoti Plastic Works P Ltd             Long/ST Bk Fac     -              -       Withdrawn
Kanmani Poultry Farm                  LT Bk Fac          CARE B         101.5   -
(Issuer not cooperating); based on best available information
Kena Alloys Pvt Ltd                   LT Bk Fac          -              -       Withdrawn
Kumaran Poultry Farm                  LT Bk Fac          CARE B+        65      -
(Issuer not cooperating); based on best available information
Millenium Buildhome Pvt Ltd           LT Bk Fac          CARE BB-       50      Assigned
Mulpuri Poultries                     LT Bk Fac          -              -       Withdrawn
Nair Coal Services Pvt Ltd            LT Bk Fac          CARE BB-       50      Assigned
Nasim Ahsan Construction Pvt. Ltd.    LT Bk Fac          CARE BB        300     Revised from
                                                                                CARE BB-
(Issuer not cooperating); based on best available information
NCML Basti Pvt Ltd                    LT Bk Fac-TL       CARE A+ (SO)   417.8   Final Rating
                                                                                Assigned*
*The rating was finalized on receipt of executed version of the unconditional, 
irrevocable corporate guarantee from NCML and verification of their conformity 
as per draft documents provided to CARE.
NCML Basti Pvt Ltd                    Bk Facility- BG    CARE A+ (SO)   36      Final Rating
                                                                                Assigned*
*The rating was finalized on receipt of executed version of the unconditional, 
irrevocable corporate guarantee from NCML and verification of their conformity 
as per draft documents provided to CARE.
NCML Bettiah Pvt Ltd                  LT Bk Fac-TL       CARE A+ (SO)   429.6   Final Rating
                                                                                Assigned*
*The rating was finalized on receipt of executed version of the unconditional, 
irrevocable corporate guarantee from NCML and verification of their conformity 
as per draft documents provided to CARE.
NCML Bettiah Pvt Ltd                  Bank Fac- Bank     CARE A+ (SO)   36      Final Rating
                                      Gurantee                                  Assigned*
*The rating was finalized on receipt of executed version of the unconditional, 
irrevocable corporate guarantee from NCML and verification of their conformity 
as per draft documents provided to CARE.
NCML Chhehreatta Pvt Ltd              LT Bk Fac-TL       CARE A+ (SO)   423.3   Final Rating
                                                                                Assigned*
*The rating was finalized on receipt of executed version of the unconditional, 
irrevocable corporate guarantee from NCML and verification of their conformity 
as per draft documents provided to CARE.
NCML Chhehreatta Pvt Ltd              Bk Facility- BG    CARE A+ (SO)   36      Final Rating
                                                                                Assigned*
*The rating was finalized on receipt of executed version of the unconditional, 
irrevocable corporate guarantee from NCML and verification of their conformity 
as per draft documents provided to CARE.
NCML Faizabad Pvt Ltd                 LT Bk Fac-TL       CARE A+ (SO)   426.5   Final Rating
                                                                                Assigned*
*The rating was finalized on receipt of executed version of the unconditional, 
irrevocable corporate guarantee from NCML and verification of their conformity 
as per draft documents provided to CARE.
NCML Faizabad Pvt Ltd                 Bk Facility- BG    CARE A+ (SO)   36      Final Rating
                                                                                Assigned*
*The rating was finalized on receipt of executed version of the unconditional, 
irrevocable corporate guarantee from NCML and verification of their conformity 
as per draft documents provided to CARE.
NCML Sonepat Pvt Ltd                  LT Bk Fac-TL       CARE A+ (SO)   462.7   Final Rating
                                                                                Assigned*
*The rating was finalized on receipt of executed version of the unconditional, 
irrevocable corporate guarantee from NCML and verification of their conformity 
as per draft documents provided to CARE.
NCML Sonepat Pvt Ltd                  Bk Facility- BG    CARE A+ (SO)   36      Final Rating
                                                                                Assigned*
*The rating was finalized on receipt of executed version of the unconditional, 
irrevocable corporate guarantee from NCML and verification of their conformity 
as per draft documents provided to CARE.
P.K. Thakur And Company Pvt Ltd       LT Bk Fac          CARE B         30.1    Revised from
                                                                                CARE B+
(Issuer not cooperating); based on best available information
Prag Electricals Pvt Ltd              LT Bk Fac          CARE B+        50      Revised from
                                                                                CARE BB
(Issuer not cooperating); based on best available information
Premier Irrigation Adritec Pvt Ltd    LT Bk Fac          -              -       Withdrawn
R T Rice Industries                   LT Bk Fac          CARE B         17.8    Revised from
                                                                                CARE B+
(Issuer not cooperating); based on best available information
Ramdev Stainless Strips Pvt Ltd       LT Bk Fac          CARE B-        113.9   Revised from
                                                                                CARE B
(Issuer not cooperating); based on best available information
Rameshwaram Cotton Mills              LT Bk Fac          CARE B         100     Revised from
                                                                                CARE B+
(Issuer not cooperating); based on best available information
S.S. Engineering Works                LT Bk Fac          CARE B         75      Revised from
                                                                                CARE B+
(Issuer not cooperating); based on best available information
Sagar Pulses Pvt Ltd                  LT Bk Fac          CARE BB-       341.5   -
(Issuer not cooperating); based on best available information
Sai Swadhin Commercials Pvt Ltd       LT Bk Fac          CARE D         76.4    -
(Issuer not cooperating); based on best available information
Shiv Shiva Steel Pvt Ltd              LT Bk Fac          CARE B         320     -
(Issuer not cooperating); based on best available information
Shreemaavaishnavi Agri Producer Co. LtD LT Bk Fac        CARE B+        49.5    -
(Issuer not cooperating); based on best available information
Skanttr Lifescience Llp               LT Bk Fac          CARE B         80      Assigned
Sri Shyam Jewellers                   LT Bk Fac          CARE BB-       50      -
(Issuer not cooperating); based on best available information
Tata Mutual Fund -Tata Money Market
FuOpen-Ended Debt    CARE AAAmfs    -       Revised from
                                      Scheme investing                          CARE AA-mfs
                                      in money market instruments
The Gold Fort                         LT Bk Fac          CARE BB-       70      -
(Issuer not cooperating); based on best available information
Ultra Fab India Pvt Ltd               LT Bk Fac          CARE BB-       13.5    -
(Issuer not cooperating); based on best available information
Ultra Fab India Pvt Ltd               LT/ST Bk Fac       CARE BB-;      32.5    -
                                                         Stable /CARE A4
(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@thomsonreuters.com)
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