June 3, 2020 / 12:24 PM / a month ago

CARE ratings for Indian debt instruments-Jun 3

    Jun 3  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of June 2, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Arvind Envisol Ltd                   ST BkFac          CARE A1+ (CE) 450    Reaffirmed
(Credit Enhancement)
Asia Poly Films Industries           ST Bk Fac         -             -      Reaffirmed
                                                                            and Withdrawn
Chemrow India Pvt Ltd                STBk Fac          CARE A4;      285

Issuer not cooperating; based on best available information
Autoline Industries Ltd              ST Bk Fac         CARE D; Stable200
Issuer not cooperating; based on best available information
Eagle Steels Rolling Mills Pvt Ltd   ST Bk Fac         CARE A4;      85
Issuer not cooperating; based on best available information
Ecap Equities Ltd                    ST Principal      CARE PP-MLD   2000   Reaffirmed
                                     Protected Market  A1+
                                     Linked Debenture
Edelweiss Asset Reconstruction Co.   CP                CARE A1+      3000   Reaffirmed
Ltd
Edelweiss Custodial Services Ltd     ST Bk Fac         CARE A1+      15000  Reaffirmed
Edelweiss Finance And Investments LtdCP                CARE A1+      10000  Reaffirmed
Edelweiss Finance And Investments LtdCP (IPO Financing)CARE A1+      25000  Reaffirmed
Edelweiss Financial Services Ltd     CP                CARE A1+      63500  Reaffirmed
Edelweiss Housing Finance Ltd        CP                CARE A1+      10000  Reaffirmed
Edelweiss Retail Finance Ltd         CP                CARE A1+      5000   Reaffirmed
Edelweiss Rural & Corporate Services ST Bk Fac- NonFundCARE A1+      1800   Reaffirmed
                                     Based@
@The said instrument has been transferred from Edelweiss Agri Value Chain Limited to Edelweiss
Rural & Corporate Services Limited (Erstwhile Edelweiss Commodities Services Limited) as per the
scheme of amalgamation. 
Edelweiss Rural & Corporate Services CP                CARE A1+      85000  Reaffirmed
Edelweiss Rural & Corporate Services CP (IPO Financing)CARE A1+      60000  Reaffirmed
Edelweiss Securities Ltd             CP                CARE A1+      10000  Reaffirmed
Gujarat Credo Mineral Industries Ltd ST Bk Fac         CARE A2       157    Reaffirmed
(enhanced from Rs. 9.70 crore Crore)
Gurukripa Conveyors                  ST Bk Fac         CARE A4;      1
Issuer not cooperating; based on best available information
Hufort Healthcare Pvt Ltd            ST Bk Fac         CARE A4       135
Issuer not cooperating; based on best available information
Intex Technologies (India) Ltd       ST BkFac          CARE A4;      2740   Revised from
                                                                            CARE A4+;
Issuer not cooperating; based on best available information
Jarosniv Exports Pvt Ltd             ST BkFac          CARE A4;      50
Issuer not cooperating; based on best available information
Mulamoottil Constructions            ST Bk Fac         CARE A4       205    Assigned
Phillips Carbon Black Ltd            CP Issue          CARE A1+      5000   Reaffirmed
Pooja Mining And Marbles Pvt Ltd     ST BkFac          CARE A4;      75
Issuer not cooperating; based on best available information
Prabhat Elastomers Pvt Ltd           ST Bk Fac         CARE A4       140
Issuer not cooperating; based on best available information
Pragati Electrocom Pvt Ltd           STBk Fac          CARE A4;      61
Issuer not cooperating; based on best available information
Preeti Buildcon Pvt Ltd              STBk Fac          CARE A4;      25
Issuer not cooperating; based on best available information
Savitra Tiles Pvt Ltd                ST BkFac          CARE A4;      15.5
Issuer not cooperating; based on best available information
Sumeru Microwave Communications Pvt  ST Bk Fac         CARE A4;      32.5
Ltd
Issuer not cooperating; based on best available information
T C Communication Pvt Ltd            ST BkFac          CARE A4;      30
Issuer not cooperating; based on best available information
Varalakshmi Starch Industries Pvt LtdST Bk Fac         CARE A4+;     80
Issuer not cooperating; based on best available information
Innovative Textiles Ltd              ST Bk Fac         -             -      Reaffirmed at
                                                                            CARE D; and
                                                                            withdrawn
Issuer not cooperating; based on best available information
Melstar Information Technologies Ltd ST Bk Fac         CARE D;       30
Issuer not cooperating; based on best available information
V And S International Pvt Ltd        ST BkFac          CARE D;       5
Issuer not cooperating; based on best available information
Win-Stone Industries (India) Pvt Ltd ST Bk Fac         -             -      Reaffirmed at
                                                                            CARE D;
Issuer not cooperating; based on best available information and Withdrawn
Vinayak Ultraflex Pvt Ltd            ST BkFac          CARE A4;      24.6
Issuer not cooperating; based on best available information

LONG TERM RATINGS:
-------------------
Annai Flour Mills Pvt Ltd            LT Bk Fac         CARE BB-;Stabl150    Revised from
                                                                            CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Autoline Industries Ltd              LT Bk Fac         CARE D; Stable1249.1
Issuer not cooperating; based on best available information
Arvind Envisol Ltd                   LT BkFac          CARE AA- (CE);700    Reaffirmed
                                                       Negative
Outlook revised from Stable to Negative
Arvind Envisol Ltd                   LT/ STBk Fac      CARE AA- (CE);950    Reaffirmed
                                                       Negative/CARE
                                                       A1+ (CE)
Outlook revised from Stable to Negative
Arvind Smart Textiles Ltd            LT BkFac          CARE AA- (CE);850    Reaffirmed
                                                       Negative
Outlook revised from Stable to Negative
Arvind Smart Textiles Ltd            LT/ STBk Fac      CARE AA- (CE);340    Reaffirmed
                                                       Negative/CARE
                                                       A1+ (CE)
Outlook revised from Stable to Negative
Ashtavinayak Auto Pvt Ltd            LT Bk Fac         CARE D; ISSUER137.5
Issuer not cooperating; based on best available information
Asia Poly Films Industries           LT Bk Fac         -             -      Reaffirmed
                                                                            and Withdrawn
Avk Automall Pvt Ltd                 LT Bk Fac         CARE D;       182.6
Issuer not cooperating; based on best available information
Balkrishna Agro Products             LT / STBk Fac     CARE B;       60     Revised from
                                                       Stable/CARE A4;      CARE B+;
Issuer not cooperating; based on best available information
Balkrishna Agro Products             LT Bk Fac         CARE B;       21     Revised from
                                                       Stable;              CARE B+;
Issuer not cooperating; based on best available information
Banshi Cotton Pvt Ltd                LT/ST BkFac       CARE B; Stable120    Revised from
                                                       /CARE A4;            CARE
                                                                            B+;Stable/CARE A4;
Issuer not cooperating; based on best available information
Bholanath Zaveri Jewellers Pvt Ltd   LT BkFac          CARE B-;      66     Revised
                                                       Stable;              fromCARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Biaora To Dewas Highway Pvt Ltd      LT BkFac^         CARE BBB(CE)12945.9  Revised from
                                                       Stable               CARE BBB-;
                                                                            Stable
^based on Credit Enhancement in the form of unconditional and irrevocable Sponsor Support
Agreement provided by Oriental Structural Engineers Private Limited (OSEPL, rated  CARE A;
Stable ,  CARE A1 ; with shareholding of 51%) and Oriental Tollways Pvt Ltd (OTPL, wholly owned
subsidiary of OSEPL with shareholding of 49%). 
Chemrow India Pvt Ltd                LTBk Fac          CARE B;       50     Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Eagle Steels Rolling Mills Pvt Ltd   LT Bk Fac         CARE B; Stable255    Revised from
                                                                            CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Ecap Equities Ltd                    Principal         CARE PP-MLD   8000   Reaffirmed
                                     Protected Market  AA- ; Negative
                                     Linked Debenture
Edelweiss Asset Reconstruction Co.   NCDs              CARE A+       300    Reaffirmed
Ltd
Edelweiss Asset Reconstruction Co.   LT Bk Fac         CARE A+       1282.5 Reaffirmed
Ltd
Edelweiss Asset Reconstruction Co.   NCDs              CARE A+       3700   Reaffirmed
Ltd
Edelweiss Asset Reconstruction Co.   LT Bk Fac         CARE A+       2200   Reaffirmed
Ltd
Edelweiss Asset Reconstruction Co.   NCDs              CARE AA-      902.5  Reaffirmed
Ltd
Edelweiss Asset Reconstruction Co.   Principal         CARE PP-MLD   5955   Reaffirmed
                                     Protected Market  AA-
                                     Linked Debentures (PP-MLD)
Edelweiss Asset Reconstruction Co.   Principal         CARE PP-MLD   5000   Reaffirmed
Ltd                                  Protected Market  AA-
                                     Linked Debentures (PP-MLD)
Edelweiss Finance And Investments LtdNCD (Public issue)CARE AA-;     5000   Reaffirmed
                                                       Negative
Edelweiss Finance And Investments LtdNCD               CARE AA-;     7000   Reaffirmed
                                                       Negative
Edelweiss Finance And Investments LtdPrincipal         CARE PP-MLD   5000   Reaffirmed
                                     Protected Market  AA-; Negative
                                     Linked Debentures
Edelweiss Financial Services Ltd     NCDs              CARE AA-;     2840   Reaffirmed
Edelweiss Finvest Pvt Ltd            NCDs              CARE AA-      1500   Reaffirmed
                                                       Negative
Edelweiss Finvest Pvt Ltd            Principal         CARE PP-MLD   875.2  Reaffirmed
                                     Protected Market  AA-; Negative
                                     Linked Debentures
Edelweiss Finvest Pvt Ltd            Principal         CARE PP-MLD   5000   Reaffirmed
                                     Protected Market  AA-; Negative
                                     Linked Debentures
Edelweiss Housing Finance Ltd        NCD*              CARE AA-      380    Reaffirmed
*The above rating is backed by an unconditional and irrevocable corporate guarantee issued by
Edelweiss Financial  Services Ltd. (EFSL) rated CARE AA-; Negative/CARE A1+. 
Edelweiss Housing Finance Ltd        Retail NCD        CARE AA-;     5000   Reaffirmed
                                                       Negative
Edelweiss Housing Finance Ltd        Subordinate Debt  CARE AA-;     3000   Reaffirmed
                                                       Negative
Edelweiss Housing Finance Ltd        NCD               CARE AA-;     6650   Reaffirmed
                                                       Negative
Edelweiss Housing Finance Ltd        Bk Fac            CARE AA-;     16750  Reaffirmed
                                                       Negative
Edelweiss Retail Finance Ltd         NCDs              CARE AA-;     2250   Reaffirmed
                                                       Negative
Edelweiss Retail Finance Ltd         Subordinate Debt  CARE AA-;     3000   Reaffirmed
                                                       Negative
Edelweiss Rural & Corporate Services Proposed NCDs@    CARE AA-      1700   Reaffirmed
@The said instrument has been transferred from Edelweiss Agri Value Chain Limited to Edelweiss
Rural & Corporate Services Limited (Erstwhile Edelweiss Commodities Services Limited) as per the
scheme of amalgamation. 
Edelweiss Rural & Corporate Services LT Bk Fac-Fund    CARE AA-;     4200   Reaffirmed
                                     Based@            Negative
@The said instrument has been transferred from Edelweiss Agri Value Chain Limited to Edelweiss
Rural & Corporate Services Limited (Erstwhile Edelweiss Commodities Services Limited) as per the
scheme of amalgamation. 
Edelweiss Rural & Corporate Services NCD               CARE AA-;     8075   Reaffirmed
                                                       Negative
Edelweiss Rural & Corporate Services ST/LT/FB          CARE AA-;     4000   Reaffirmed
                                     Fac/Non-FB Fac@   Negative/CARE
                                                       A1+ 
@The said instrument has been transferred from Edelweiss Agri Value Chain Limited to Edelweiss
Rural & Corporate Services Limited (Erstwhile Edelweiss Commodities Services Limited) as per the
scheme of amalgamation. 
Ghanshyam Anjana                     LT / ST Bk Fac    CARE B-;      25     Revised from
                                                       Stable/CARE A4;      CARE B ;
                                                                            Stable/ CARE A4 ;
Issuer not cooperating; based on best available information
Ghanshyam Anjana                     LT Bk Fac         CARE B-;      80     Revised from
                                                       Stable;              CARE B ;
                                                                            Stable;
Issuer not cooperating; based on best available information
Growing Opportunity Finance (India)  LT Bk Fac         CARE BBB-;    2000   Reaffirmed
Pvt Ltd                                                    Stable
Gujarat Credo Mineral Industries Ltd LT Bk Fac         CARE BBB+;    419.8  Reaffirmed
                                                       Stable
(enhanced from Rs. 31.98 crore Crore)
Gurukripa Conveyors                  LT Bk Fac         CARE B-;      77.2   Revised from
                                                                            CARE B;
Issuer not cooperating; based on best available information
Haware Properties                    LT Bk Fac         CARE BB-;     230    Revised
                                                       Stable;              fromCARE BB+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Highness Cotton Industries           LT Bk Fac         -             -      Withdrawn
Hufort Healthcare Pvt Ltd            LT Bk Fac         CARE BB-;     55     Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Ice Touch Resort Pvt Ltd             LT BkFac          CARE C;       70     Revised
                                                       Stable;              fromCARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Innovative Textiles Ltd              LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE D; and
                                                                            withdrawn
Issuer not cooperating; based on best available information
Intex Technologies (India) Ltd       LT BkFac          CARE B-;      1382.8 Revised from
                                                       Stable;              CAREBB+;
Issuer not cooperating; based on best available information
Jarosniv Exports Pvt Ltd             LT/ ShortTerm Bk  CARE B-;      30     Revised from
                                     Fac               Stable/CARE A4;      CARE B;
                                                                            Stable / CARE A4;
Issuer not cooperating; based on best available information
Karishma Finishers Pvt Ltd           LT BkFac          CARE B-;      100    Revised from
                                                       Stable               CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Kirti Agrovet Ltd                    LT BkFac          CARE BB+;     610
                                                       Stable;
Issuer not cooperating; based on best available information
Kirti Dal Mills Ltd                  LT BkFac          CARE BB+;     900
                                                       Stable;
Issuer not cooperating; based on best available information
Kirti Gold Ltd                       LT BkFac          CARE BB+;     419.1
                                                       Stable;
Issuer not cooperating; based on best available information
Magalir Micro Capital Pvt Ltd        LT Bk Fac         CARE BBB-;    1250   Reaffirmed;
                                                       Negative             Outlook
                                                                            revised from Stable
to Negative
Matrix Roller Mills Pvt Ltd          LT BkFac          CARE B;       140
                                                       Stable;
Issuer not cooperating; based on best available information
Melstar Information Technologies Ltd LT Bk Fac         CARE D;       140
Issuer not cooperating; based on best available information
Meta Tiles Pvt Ltd                   LT / ST Bk Fac    CARE D /CARE  137
                                                       D;
Issuer not cooperating; based on best available information
Midas Naturals Pvt Ltd               LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE BB;
                                                                            Outlook revised from
Positive to Stable and Withdrawn
Mswipe Technologies Pvt Ltd          LT Bk Fac         -             0      Withdrawn
Mulamoottil Constructions            LT Bk Fac         CARE BB-;     85     Assigned
                                                       Stable
Pooja Mining And Marbles Pvt Ltd     LT BkFac          CARE B+;      75     Revised from
                                                       stable;              CARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Prabhat Elastomers Pvt Ltd           LT/ST Bk Fac      CARE B+;      230    Revised from
                                                       Stable/CARE A4       CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Pragati Electrocom Pvt Ltd           LTBk Fac          CARE B;       118.5  Revised from
                                                       Stable;              CARE
                                                                            BB-;Stable;
Issuer not cooperating; based on best available information
Preeti Buildcon Pvt Ltd              LTBk Fac          CARE B+;      40     Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
R.V. Infrastructural Pvt Ltd         LT/ short- term FaCARE B;       76     Revised from
                                                       stable/CARE A4;      CARE B+;
                                                                            Stable /CARE A4
Issuer not cooperating; based on best available information
R.V. Infrastructural Pvt Ltd         LT BkFac          CARE B;       4      Revised from
                                                       stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Rahis Pal Construction Pvt Ltd       LT/ short- term FaCARE B;       60     Revised from
                                                       stable/CARE A4;      CARE
                                                                            BB-;Stable / CARE
A4;
Issuer not cooperating; based on best available information
Rahis Pal Construction Pvt Ltd       LT BkFac          CARE B;       20     Revised from
                                                       stable;              CARE
                                                                            BB-;Stable;
Issuer not cooperating; based on best available information
Raj Overseas                         LT BkFac          CARE C;       72     Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Rajendra Trucking Pvt Ltd            LT BkFac          CARE C;       125    Revised
                                                       Stable;              fromCARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Savitra Tiles Pvt Ltd                LT Bk Fac         CARE B+;      66.6   Revised
                                                       Stable;              fromCARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Shree Mahaveerji Polyfab Pvt Ltd     LTBk Fac          CARE B;       110.2  Revised
                                                       Stable;              fromCARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Sprng Agnitra Pvt Ltd                LT BkFac (TL)     CARE A-; Stabl8470   Removed from
                                                                            CreditWatch
                                                                            with developing
implications
Sumeru Microwave Communications Pvt LLT Bk Fac         CARE B; Stable47.8   Revised from
                                                                            CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Sunrise Industries_(Delhi)           LT BkFac          CARE C;       60     Revised
                                                       Stable;              fromCARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Swadesh Green Infra Ltd              LT Bk Fac         CARE B+;      280.5  Assigned
                                                       Stable
Swadesh Green Infra Ltd              LT/ST BkFac       CARE B+;      20     Assigned
                                                       Stable/CARE A4
T C Communication Pvt Ltd            LT BkFac          CARE B+;      120    Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
The Madras Silks India Pvt Ltd       LT BkFac          CARE BBB-;    1970   Revised from
                                                       Negative             CARE BBB-;
                                                                            Stable
The Madras Silks India Pvt Ltd       LT/Shortterm Bk FaCARE BBB-;    3520   Revised from
                                                       Negative/CARE        CARE BBB-;
                                                       A3                   Stable/ CARE A3
United Cotton Extract Pvt Ltd        LT Bk Fac         CARE D;       64.9
Issuer not cooperating; based on best available information
V And S International Pvt Ltd        LT BkFac          CARE D;       345
Issuer not cooperating; based on best available information
Varalakshmi Starch Industries Pvt LtdLT Bk Fac         CARE BB+;     170
Issuer not cooperating; based on best available information
Vinayak Ultraflex Pvt Ltd            LT BkFac          CARE B+;      100    Revised from
                                                       Stable               CARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Vinayak Ultraflex Pvt Ltd            LT/Shortterm Bk FaCARE B+;      1.5    Revised from
                                                       Stable/CARE A4       CARE BB-;
                                                                            Stable/CARE A4
Issuer not cooperating; based on best available information
Vrundavan Ginning Industries         LT Bk Fac         CARE B;       60.8   Revised from
                                                       Stable;              CAREBB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Win-Stone Industries (India) Pvt Ltd LT Bk Fac         -             -      Withdrawn
--------------------------------------------------------------------------------------------
$: 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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