May 14, 2020 / 12:54 PM / 12 days ago

CARE ratings for Indian debt instruments - May 14

    May 14  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of May 13, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aggarsain Fibres Ltd                 ST Bk Fac         CARE A4;      100
Issuer not cooperating; based on best available information
Caspia Hotels Pvt Ltd                STBk Fac          CARE A3       100
Rating put under credit watch with Negative Implications

Friends Timber Pvt Ltd               ST BkFac          CARE A4;      162.5
Issuer not cooperating; based on best available information
Future Enterprises Ltd               ST non-fund based CARE A3+      6020   Revised from
                                     Bk Fac – LC/BG                         CARE A1
Continues to be on credit watch with negative implications
Future Retail Ltd                    CP Issue          CARE A2       7500   Revised from
                                                                            CARE A1
Continues to be on credit watch with negative implications
Future Enterprises Ltd               CP Issue          -             -      Withdrawn
Parason Machinery India Pvt Ltd      ST Bk Fac         --            0      Withdrawn
Spray Engineering Devices Ltd        ST Bk Fac         -             -      Reaffirmed at
                                                                            CARE D; and
                                                                            withdrawn
Issuer not cooperating; based on best available information
Sri Murugan Industries               ST Bk Fac         -             -      Reaffirmed at
                                                                            CARE A4
Issuer not cooperating; based on best available information
Future Retail Ltd                    ST non-fund based CARE A2+      25000  Revised from
                                     Bk Fac – LC/BG                         CARE A1
Continues to be on credit watch with negative implications
Future Retail Ltd                    CP Issue*         CARE A2+      6500   Revised from
                                                                            CARE A1
Continues to be on credit watch with negative implications ,*carved out of working capital
limits
Goal Closures                        ST Bk Fac         CARE A4;      51.9
Issuer not cooperating; based on best available information
Precision Metals                     ST Bk Fac         CARE A1+      830    Reaffirmed
(enhanced from Rs. 58.00 crore Crore)
R.Velumani                           ST Bk Fac         CARE A4;      30
Issuer not cooperating; based on best available information
Shree Sant Kripa Appliances Pvt Ltd  ST Bk             CARE A3;      500
                                     Fac(Non-fund Based)
Issuer not cooperating; based on best available information
Ssk Infotech Pvt Ltd                 ST Bk             CARE A3;      20
                                     Fac(Non-fund Based)
Issuer not cooperating; based on best available information
Swadesh Suiting Pvt Ltd              ST Bk Fac         CARE A4;      9
Issuer not cooperating; based on best available information
Lord Shiva Construction Co Pvt Ltd   ST Bk Fac         CARE D;       13.8
Issuer not cooperating; based on best available information
Syska Led Lights Pvt Ltd             ST Bk             CARE A3;      520
                                     Fac(Non-fund Based)
Issuer not cooperating; based on best available information
Transstadia Technologies Pvt Ltd     ST Bk Fac         CARE A4;      25
Issuer not cooperating; based on best available information
Aaacorp Exim India Pvt Ltd           ST Bk Fac         CARE D;       194
Issuer not cooperating; based on best available information

LONG TERM RATINGS:
-------------------
Future Retail Ltd                    Fixed Deposit     CARE A- (FD)  7000   Revised from
                                     Programme                              CARE A+ (FD)
Continues to be on credit watch with negative implications
Future Enterprises Ltd               Fixed Deposit     CARE BBB+(FD) 7000   Revised from
                                     Programme                              CARE A(FD)
Continues to be on credit watch with negative implications
Paranjape Schemes (Construction) Ltd Fixed Deposits    CARE B(FD)    550    Revised from
                                                                            CARE B+(FD)
Issuer not cooperating; based on best available information
Aggarsain Fibres Ltd                 LT Bk Fac         CARE B+;      100    Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Aaacorp Exim India Pvt Ltd           LT Bk Fac         CARE D;       30
Issuer not cooperating; based on best available information
Akash Pet Containers Pvt Ltd         Long –term Bk Fac CARE B; Stable68     Revised from
                                                                            CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Anjani Foods Ltd                     Long –term Bk Fac CARE BB+;     50     Assigned
                                                       Stable
Arisudana Industries Ltd             LT Bk FacLT/ST    CARE BBB+;    513.5  Reaffirmed;
                                     BkFac             Stable
Outlook revised from Positive to Stable
B S R Builders Engineers & ContractorLong –term Bk Fac CARE C;       263    Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Bagh Bahar Appliances Pvt Ltd        LT Bk Fac (fund   CARE BBB-;    800    Revised from
                                     based)            Stable;              CARE BBB+
Issuer not cooperating; based on best available information
Caspia Hotels Pvt Ltd                LTBk Fac          CARE BBB-     2070.3
Rating put under credit watch with Negative Implications
Friends Timber Pvt Ltd               LT/Shortterm Bk FaCARE B+;      60
                                                       Stable/CARE A4;
Issuer not cooperating; based on best available information
Future Enterprises Ltd               LT - TL           CARE BBB+     5500   Revised from
                                                                            CARE A
Continues to be on credit watch with negative implications
Future Enterprises Ltd               LT fund based Bk  CARE BBB+     6250   Revised from
                                     Fac – CC                               CARE A
Continues to be on credit watch with negative implications
Future Enterprises Ltd               NCD Issue         CARE BBB+     27240  Revised from
                                                                            CARE A
Continues to be on credit watch with negative implications
Future Retail Ltd                    LT - TL           CARE A-       5280   Revised from
                                                                            CARE A+
Continues to be on credit watch with negative implications
Future Retail Ltd                    LT fund based Bk  CARE A-       32500  Revised from
                                     Fac – CC                               CARE A+
Continues to be on credit watch with negative implications
Future Retail Ltd                    NCD Issue         CARE A-       1990   Revised from
                                                                            CARE A+
Continues to be on credit watch with negative implications
Future Retail Ltd                    Proposed NCD IssueCARE A-       1000   Revised from
                                                                            CARE A+
Continues to be on credit watch with negative implications
Ginger Infrastructure Pvt Ltd        LT Bk Fac         CARE D;       150    -
Issuer not cooperating; based on best available information
Goal Closures                        Long –term Bk Fac CARE BB-;     296    Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Jalaram Industries                   LT BkFac          CARE C;       69     Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Lord Shiva Construction Co Pvt Ltd   LT Bk Fac         CARE D;       105
Issuer not cooperating; based on best available information
Lord Shiva Construction Co Pvt Ltd   LT Bk Fac/ ST Bk  CARE D;       75
                                     Fac
Issuer not cooperating; based on best available information
Malpani Cottons Pvt Ltd              LT BkFac          CARE B-;      140    Revised from
                                                       Stable;              CARE BB-
Issuer not cooperating; based on best available information
Matix Fertilisers And Chemicals Ltd  LT Bk Fac         CARE D:       43050
Issuer not cooperating; based on best available information
P.R.R Travels                        Long -term Bk Fac -             -      -
Issuer not cooperating; based on best available information,Revised to CARE B Stale
Paranjape Schemes (Construction) Ltd NCDs              CARE B;       1750   Revised from
                                                       Negative;            CARE B+
Issuer not cooperating; based on best available information
Parason Machinery India Pvt Ltd      LT Bk Fac         --            0      Withdrawn
R.Velumani                           Long –term Bk Fac CARE B-;      63.3   Revised
                                                       Stable               toCARE B+
                                                                            Stale
Issuer not cooperating; based on best available information
S E Transstadia Pvt Ltd              LT Bk Fac         CARE D;       3356.5
Issuer not cooperating; based on best available information
S.M.I.L.E. Microfinance Ltd          LT Bk Fac         CARE BBB;     2500   Reaffirmed;
                                                       Negative
Outlook revised from Stable to Negative
S.M.I.L.E. Microfinance Ltd          NCD-I             CARE BBB;     387    Reaffirmed;
                                                       Negative
Outlook revised from Stable to Negative
S.M.I.L.E. Microfinance Ltd          NCD-II            CARE BBB;     258    Reaffirmed;
                                                       Negative
Outlook revised from Stable to Negative
S.M.I.L.E. Microfinance Ltd          NCD-III           CARE BBB;     200    Reaffirmed;
                                                       Negative
Outlook revised from Stable to Negative
Samhi Hotels Ltd                     LT BkFac          CARE BBB+     3138
Rating put under credit watch with Negative Implications
Samhi Hotels Ltd                     LT/Shortterm Bk FaCARE BBB+/CARE6.8
                                                       A2
Rating put under credit watch with Negative Implications
Shree Prabhu Petrochemicals Pvt Ltd  LT Bk Fac         CARE D        131.4  Assigned
Shree Sant Kripa Appliances Pvt Ltd  LT Bk Fac (fund   CARE BBB-;    6850   Revised from
                                     based)            Stable;              CARE BBB+
Issuer not cooperating; based on best available information
Spray Engineering Devices Ltd        LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE D; and
                                                                            withdrawn
Issuer not cooperating; based on best available information
Sri Murugan Industries               LT Bk Fac         -             -      Reaffirmed at
                                                                            CARE B-,
                                                                            Stable
Issuer not cooperating; based on best available information
Sri Varadaraja Textiles Pvt Ltd      Long –term Bk Fac CARE B+;      109.9  Revised from
                                                       Stable               CARE BB;
                                                                            Stable
Issuer not cooperating; based on best available information
Ssk Infotech Pvt Ltd                 LT Bk Fac (fund   CARE BBB-;    50     Revised from
                                     based)            Stable;              CARE BBB+
Issuer not cooperating; based on best available information
Ssk Infotech Pvt Ltd                 LT Bk Fac (fund   CARE BBB-;    71.7   Revised from
                                     based)            Stable;              CARE BBB+
Issuer not cooperating; based on best available information
Ssk Retails Pvt Ltd                  LT Bk Fac (fund   CARE BBB-;    250    Revised from
                                     based)            Stable;              CARE BBB+
Issuer not cooperating; based on best available information
Swadesh Suiting Pvt Ltd              LT Bk Fac         CARE B+;      131    revised from
                                                       Stable;              CARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Syska Led Lights Pvt Ltd             LT Bk Fac (fund   CARE BBB-;    980    Revised from
                                     based)            Stable;              CARE BBB+
Issuer not cooperating; based on best available information
Transstadia Technologies Pvt Ltd     LT Bk Fac         CARE B-;      22.5   Revised from
                                                       Stable               CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
V. Ponnusamy Educational And CharitabLong –term Bk Fac CARE C; Stable200    Revised from
Trust                                                                       CARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Yogakshemam Loans Ltd                NCDs (Proposed)   CARE BBB-;    200    Assigned
                                                       Stable
--------------------------------------------------------------------------------------------
$: 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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