May 16, 2019 / 5:14 AM / 2 months ago

CARE ratings for Indian debt instruments-May 16

    May 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of May 15, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Adea Powerquips Pvt Ltd               ST Bk Fac          CARE D         14      -
Issuer Not Cooperating; Revised from CARE A4 based on best available information
Bakshi Security & Personnel Services  ST Bk Fac          CARE A4+       70      Assigned
Pvt Ltd
Brahmagiri Development Society        ST Bk Fac          CARE A4        10      Assigned
Duflon Industries Pvt Ltd             ST Bk Fac          CARE A4        93.5    Assigned

Elecon                                ST Bk Fac          CARE A4        26      -
Issuer Not Cooperating; Based on best available information
Garden Silk Mills Ltd                 ST Bk Fac -        CARE D         5320    -
                                      Non-fund based
Issuer not cooperating; Based on best available information”
IIFL Management Services Ltd          CP                 CARE A1+       -       Withdrawn
Manglam Yarn Agencies                 ST Bk Fac          CARE A4        -       Withdrawn
Mb Power (Madhya Pradesh) Ltd         ST Bk Fac -        CARE A2        490     Reaffirmed
                                      NonFund Based – LOC
Novelty Reddy And Reddy Motors Pvt LtdST Bk Fac          CARE A4        15      -
Issuer not cooperating; Based on best available information
Sri Chitra Agri Exports               ST Bk Fac          CARE A4        145     -
Issuer not cooperating; Based on best available information

LONG TERM RATINGS:
-------------------
Adea Powerquips Pvt Ltd               LT Bk Fac          CARE D         60.6    -
Issuer Not Cooperating; Revised from CARE B; based on best available information
Bakshi Security & Personnel Services  LT Bk Fac          CARE BB+       30      Assigned
Pvt Ltd
Brahmagiri Development Society        LT Bk Fac          CARE B         60.9    Assigned
Duflon Industries Pvt Ltd             LT Bk Fac          CARE BB        156.5   Assigned
Elecon                                LT Bk Fac          CARE B         30      -
Issuer Not Cooperating; Based on best available information
Garden Silk Mills Ltd                 LT Bk Fac Fund     CARE D         17793.2 -
                                      based
Issuer not cooperating; Based on best available information”
Goyal Cattle Feed Industries          LT Bk Fac          CARE D         52.5    -
Issuer Not Cooperating; Revised from CARE BB-; based on best available information
Harihar Industries                    Long- term Bk Fac  CARE BB-       76      Assigned
Harihar Industries                    Long- term/Short-  CARE BB-/A4    24      Assigned
                                      term Bk Fac
Hariom Cold Storage                   LT Bk Fac          CARE B+        48      Assigned
Jind Industrial And Manufacturing WorkLT Bk Fac          CARE D         63.7    -
Pvt Ltd
Issuer Not Cooperating; Revised from CARE B+; based on best available information
Jind Industrial And Manufacturing WorkST Bk Fac          CARE D         3       -
Pvt Ltd
Issuer Not Cooperating; Revised from CARE A4 based on best available information
Kamna Medical Center Pvt Ltd          LT Bk Fac          CARE BB-       77.6    Assigned
Kandla Packaging Pvt Ltd              LT Bk Fac          CARE B+        120     -
Issuer not co operating; Based on best available information
Ksjn Chemicals Pvt Ltd                LT/ST Bk Fac       CARE BB/A4     47      Assigned
Manglam Yarn Agencies                 LT Bk Fac          CARE BB        -       Withdrawn
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac –TL      CARE BBB+      46480
Outlook revised to Stable from Positive and rating reaffirmed
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac – (ECBs) CARE BBB+      7430
Outlook revised to Stable from Positive and rating reaffirmed
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac–Non Fund CARE BBB+      5710
                                      Based (BG)
Outlook revised to Stable from Positive and rating reaffirmed
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac – Fund   CARE BBB+      10600
                                      Based – Working
                                      capital limits
Outlook revised to Stable from Positive and rating reaffirmed
Mb Power (Madhya Pradesh) Ltd         LT Bk Fac -        CARE BBB+      2700
                                      Non Fund Based –
                                      Derivative Limit
Outlook revised to Stable from Positive and rating reaffirmed
Nimrana Developers                    LT Bk Fac          CARE BB+ (SO)  -       Withdrawn
Novelty Reddy And Reddy Motors Pvt LtdLT Bk Fac          CARE B+        100     -
Issuer not cooperating; Revised from CARE BB- on the basis of best available information
Punjab State Transmission Corporation LT Bk Fac (TL)     CARE BB+       -       Withdrawn
Ltd
Punjab State Transmission Corporation LT Bk Fac (Fund    CARE BB+       -       Withdrawn
Ltd                                   based)
Rangoli Developers                    LT Bk Fac          -              -       Withdrawn
Real Value Ventures Pvt Ltd           NCDs Issue I       CARE D         1400    -
Issuer not cooperating; Revised from CARE B+; Stable; Issuer not cooperating on the basis of
best available information
Real Value Ventures Pvt Ltd           NCDs Issue II      CARE D         290     -
Issuer not cooperating; Revised from CARE B+; Stable; Issuer not cooperating on the basis of
best available information
Real Value Ventures Pvt Ltd           NCDs Issue III     CARE D         270     -
Issuer not cooperating; Revised from CARE B+; Stable; Issuer not cooperating on the basis of
best available information
Real Value Ventures Pvt Ltd           NCDs Issue IV      CARE D         160     -
Issuer not cooperating; Revised from CARE B+; Stable; Issuer not cooperating on the basis of
best available information
Shubham Buildmart Pvt Ltd             LT Bk Fac          -              -       Withdrawn
Sinha Square                          LT Bk Fac          CARE D         94.2    -
Issuer not cooperating Revised from CARE B+; Stable based on best available information
The G V M C Public Health Employees   Long -term Bk Fac  CARE BB-       100     -
Mutually Aided Thrift And Cooperative
Credit Society Ltd
Issuer not cooperating: Revised from CARE BB; On the basis of best available Information
Vedasri Green Energy Pvt Ltd          Long -term Bk Fac  CARE BB-       100     -
Issuer not cooperating; Based on best available information
Vitthal Gajanan Sugar Pvt Ltd         LT Bk Fac          CARE D         176     -
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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