June 5, 2020 / 8:57 AM / a month ago

CARE ratings for Indian debt instruments-Jun 5

    Jun 5  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of June 4, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agroha Colourtec Pvt Ltd             ST BkFac- Fund    CARE D        142.5  Revised from
                                     Based                                  CARE A4
Issuer not cooperating; based on best available information
Bnp Paribas Asset Management India   BNP Paribas       CARE A1+mfs   -      Reaffirmed
Pvt Ltd                              Overnight Fund
                                     Open Ended Debt Scheme
Coral Drugs Pvt Ltd                  ST Bk Fac         -             -
Chartered Hotels Pvt Ltd             ST Bk Fac(BG)     CARE A4;      260

Issuer not cooperating; based on best available information
Finepac Structures Pvt Ltd           ST Bk Fac         CARE A4;      69
Issuer not cooperating; based on best available information
Icici Prudential Asset Management Co.ICICI Prudential  CARE A1+mfs   -      Reaffirmed
Ltd                                  Liquid FundOpen
                                     Ended Debt Scheme
Idbi Asset Management Ltd            IDBI Dynamic Bond CARE A1+mfs   -      Reaffirmed
                                     FundOpen Ended
                                     Debt Scheme
Niknam Chemicals Pvt Ltd             ST BkFac          CARE A4;      58.5
Issuer not cooperating; based on best available information
Raajratna Ventures Ltd               ST Bk Fac         CARE A2       515    Reaffirmed
(enhanced from Rs.41.50 crore Crore)*certain facilities have been reclassified from long-term
bank facilities to short-term bank facilities 
Shah Concast Pvt Ltd                 ST BkFac          CARE A4;      105
Issuer not cooperating; based on best available information
Valiant Glass Works Pvt Ltd          ST Non Fund based CARE A4;      50     Revised from
                                     Bk Faciltites –                        CARE A4+
                                     LC/BG
Issuer not cooperating; based on best available information
Vina Electricals Pvt Ltd             STBk Fac          CARE A4;      80
Issuer not cooperating; based on best available information

LONG TERM RATINGS:
-------------------
Agroha Colourtec Pvt Ltd             LT BkFac-TL       CARE D        107.5  Revised from
                                                                            CARE B+ ;
                                                                            Stable
Issuer not cooperating; based on best available information
Annapurna Finance Pvt Ltd            NCDs (NCD)        CARE A-;      600    Assigned
                                                       Stable
Bagori Polymers Pvt Ltd              LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE BB-;
                                                                            Stable; and
                                                                            Withdrawn
Issuer not cooperating; based on best available information
Baroda Asset Management India Ltd    Baroptionally     CARE AAAmfs   -      Reaffirmed
                                     convertible
                                     debenturea Liquid Fund Open Ended Liquid Scheme
Bnp Paribas Asset Management India   BNP Paribas LiquidCARE AAAmfs   -      Reaffirmed
Pvt Ltd                              Fund Open Ended
                                     Liquid Scheme
Bnp Paribas Asset Management India   BNP Paribas Low   CARE AAAmfs   -      Reaffirmed
Pvt Ltd                              Duration FundOpen
                                     Ended Debt Scheme
Bnp Paribas Asset Management India   BNP Paribas ST    CARE AAAmfs   -      Reaffirmed
Pvt Ltd                              FundOpen Ended
                                     Debt Scheme
Brandavan Foods Products             LT BkFac-TL       CARE BBB- (CE)155.3  -
Placed on Credit watch with negative implications
Chartered Hotels Pvt Ltd             LT Bk Fac(TL-Axis CARE D;       401.1
                                     Bk)
Issuer not cooperating; based on best available information
Chartered Hotels Pvt Ltd             LT Bk Fac(TL)     CARE D;       2874.1
Issuer not cooperating; based on best available information
Coral Drugs Pvt Ltd                  LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE BB;
                                                                            Stable/CARE A4
Finepac Structures Pvt Ltd           LT Bk Fac         CARE BB-;     23     Revised from
                                                       Stable;              CARE BB;
                                                                            Stable
Issuer not cooperating; based on best available information
Finepac Structures Pvt Ltd           Long/ST Bk Fac    CARE          28     Revised from
                                                       BB-;Stable           CARE BB;
                                                       /CARE A4;            Stable/CARE A4
Issuer not cooperating; based on best available information
Hi-Tech Resistors Pvt Ltd            LT BkFacility     CARE A4;      24
Issuer not cooperating; based on best available information
Hi-Tech Resistors Pvt Ltd            LT BkFacility     CARE B+; Stabl32.2
Issuer not cooperating; based on best available information
Idbi Asset Management Ltd            IDBI Gilt FundOpenCARE AAAmfs   -      Reaffirmed
                                     Ended Debt Scheme
Idbi Asset Management Ltd            IDBI Liquid       CARE AAAmfs   -      Reaffirmed
                                     FundOpen Ended
                                     Debt Scheme
Idbi Asset Management Ltd            IDBI ST Bond      CARE AAAmfs   -      Reaffirmed
                                     FundOpen Ended
                                     Debt Scheme
Idbi Asset Management Ltd            IDBI Ultra ST     CARE AAAmfs   -      Reaffirmed
                                     FundOpen Ended
                                     Debt Scheme
Infinity Fincorp Solutions Pvt Ltd   NCD (Proposed)    CARE A-; Stabl500    Assigned
Jp Agro                              LT Bk Fac         CARE D;       100
Issuer not cooperating; based on best available information
Lavasa Hotel Ltd                     LT Bk Fac         CARE D;       43.8
Issuer not cooperating; based on best available information
Miraj Entertainment Ltd              LT Bk Fac         CARE BBB;     430    Revised from
                                                       Negative             CARE BBB;
                                                                            Stable
Niknam Chemicals Pvt Ltd             LT BkFac          CARE B+;      81.5   Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Nirman Homes                         LT Bk Fac         -             -      Withdrawn
Pacifica Hotels (Ahmedabad Project)  LT BkFac-TL       CARE BBB- (CE)554.7  -
Pvt Ltd
Placed on Credit watch with negative implications
Pacifica Hotels (Ahmedabad Project)  LT-Non-FundBased  CARE BBB- (CE)532.6  -
Pvt Ltd                             Fac
Placed on Credit watch with negative implications
R.K. Associates And Hoteliers Pvt LtdLT BkFac          CARE BBB-     166.3  -
                                                       (CE);
Placed on Credit watch with negative implications
Raajratna Ventures Ltd               LT Bk Fac         CARE BBB+;    519    Reaffirmed
                                                       Stable
(reduced from Rs.61.90 crore Crore)*certain facilities have been reclassified from long-term
bank facilities to short-term bank facilities 
Rana Steels India Ltd                LT Bk Fac         CARE D;       262.4
Issuer not cooperating; based on best available information
Rana Steels India Ltd                LT Bk Fac/ST BkFacCARE D;       40
Issuer not cooperating; based on best available information
Roop Caterers                        LT BkFac-TL       CARE BBB-     191    -
                                                       (CE);
Placed on Credit watch with negative implications
Sant Autos                           LT Bk Fac         CARE D        60     Revised from
                                                                            CARE B-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Satya Sai Builders And Contractors   LT BkFac          CARE B-;      7.8    Revised from
                                     /Shortterm BkFac  Stable/CARE A4       CARE B;
                                                                            Stable/CARE A4
Issuer not cooperating; based on best available information
Satya Sai Builders And Contractors   LT BkFac          CARE B-;      142.2  Revised from
                                                       Stable;              CARE B; Stable
Issuer not cooperating; based on best available information
Shah Concast Pvt Ltd                 LT BkFac          CARE B; Stable102    Revised
                                                                            fromCARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Tata Asset Management Ltd            Tata Bking and PSUCARE AAAmfs   -      Reaffirmed
                                     Debt Fund Open
                                     Ended Debt Scheme
Tata Asset Management Ltd            Tata Liquid Fund  CARE AAAmfs   -      Reaffirmed
                                     Open Ended Liquid
                                     Scheme
Tata Asset Management Ltd            Tata Money Market CARE AAAmfs   -      Reaffirmed
                                     Fund Open Ended
                                     Debt Scheme
Tata Asset Management Ltd            Tata Treasury     CARE AAAmfs   -      Reaffirmed
(Erstwhile Tata Ultra STFund         Advantage
and Tata Floater Fund)               FundOpen Ended Debt Scheme
The Phaltan Education Society        LTBk Fac          CARE B; Stable56.2   Revised from
                                                                            CARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Valiant Glass Works Pvt Ltd          LT Fund based Bk  CARE BB; Stabl1      Revised from
                                     Fac – TL                               CARE BB+
Issuer not cooperating; based on best available information
Valiant Glass Works Pvt Ltd          LT/ST Fund based  CARE BB;      700    Revised from
                                     Bk Fac – PCFC     Stable/CARE A4       CARE BB+/CARE
                                                                            A4+
Issuer not cooperating; based on best available information
Venkateshwara Associates             LTBkFac           CARE B-; Stabl260    Revised from
                                                                            CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Vidarbha Institute Of Medical ScienceLTBk Fac          CARE B-; Stabl217    Revised from
Pvt Ltd                                                                     CARE B; Stable
Issuer not cooperating; based on best available information
Vina Electricals Pvt Ltd             LTBk Fac          CARE B-;      120    Revised from
                                                       Stable;              CARE B; Stable
Issuer not cooperating; based on best available information
Vivriti Poor First Iii (Originator:  Series A PTC      CARE A (SO)   248.9  Final Rating
Digamber Capfin Ltd)                                                        Assigned
--------------------------------------------------------------------------------------------
$: 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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