May 19, 2020 / 8:06 AM / 13 days ago

CARE ratings for Indian debt instruments-May 19

    May 19  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of May 18, 2020.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Anand Construction                   ST Bk Fac         CARE A4;      13.1
Issuer not cooperating; based on best available information
Blue Star Ltd                        ST BkFac(Non-fund CARE A1+      5180   Reaffirmed
                                     based)

Blue Star Ltd                        CP                CARE A1+      5000   Reaffirmed
Chawla International                 ST Bk Fac         CARE A4;      55
Issuer not cooperating; based on best available information
Coastal Corporation Ltd              ST Bk Fac         CARE A4+;     200    Revised from
                                                                            CARE A3;
Issuer not cooperating; based on best available information
R.E. Cables & Conductors Pvt Ltd     ST Bk Fac         CARE D;       500
Issuer not cooperating; based on best available information
Hmda Ancon Kcp Logistics Park Pvt LtdST BkFac          CARE A4;      20
Issuer not cooperating; based on best available information
Icoat Projects Pvt Ltd               ST Bk Fac         CARE A4       80
Issuer not cooperating; based on best available information
Neha International Ltd               ST Bk Fac         CARE D;       235
Issuer not cooperating; based on best available information
Resurgent Power Projects Ltd         ST Bk Fac         CARE D;       70
Issuer not cooperating; based on best available information
Jayalakshmi Sea Foods Pvt Ltd        ST Bk Fac         CARE A4+;     105    Revised from
                                                                            CARE A3;
Issuer not cooperating; based on best available information
Sterling Biotech Ltd                 ST Bk Fac         CARE D;       696.8
Issuer not cooperating; based on best available information
K. P. G. Enterprise                  ST BkFac          CARE A4;      490.8  Revised from
                                                                            CARE A4+
Issuer not cooperating; based on best available information
Manmeet Singh Bhatia                 Short -Term Bk FacCARE A4;      80
Issuer not cooperating; based on best available information
Marque Impex                         ST Bk Fac         CARE A3+      8.7    Reaffirmed
Nalli Chinnasami Chetty              ST Bk Fac         CARE A3+      90     Reaffirmed
Prabhat Saw Mill (Pollachi)          ST Bk Fac         CARE A4       59     Assigned
Sai Balaji Constructions             ST BkFac          CARE A4;      30
Issuer not cooperating; based on best available information
Talluri Textiles Pvt Ltd             ST Bk Fac         CARE A4;      10
Issuer not cooperating; based on best available information

LONG TERM RATINGS:
-------------------
Anand Construction                   LT Bk Fac         CARE B+;      37     Revised from
                                                       Stable;              CARE BB;Stable
Issuer not cooperating; based on best available information
Andhra Pradesh State Road Transport  LT Bk Fac(i)      CARE A-       5000   Revised from
Corporation                                                                 CARE A- (CE);
                                                                            Stable
Issuer not cooperating; based on best available information
Andhra Pradesh State Road Transport  Proposed LT BkFac CARE A-       10000  Revised from
Corporation                          (ii)                                   Provisional
                                                                            CARE A-(CE); Stable
Issuer not cooperating; based on best available information
Andhra Pradesh State Road Transport  LT Bk Fac         CARE BB;      15000
Corporation                                            Stable;
Issuer not cooperating; based on best available information
Blue Star Ltd                        LT Bk Fac (FB)    CARE AA+;     500    Reaffirmed
                                                       Negative
Outlook revised from Stable
Blue Star Ltd                        Proposed          CARE AA+;     3500   Assigned
                                     Nonconvertible    Negative
                                     Debenture
Blue Star Ltd                        LT/ST Bk Fac      CARE AA+;     12700  Reaffirmed
                                     (FB/NFB)          Negative /CARE
                                                       A1+
Outlook revised from Stable
Centrum Financial Services Ltd       NCD (Proposed)    CARE A-;      500    Assigned
                                                       Negative
Chawla International                 LT Bk Fac         CARE C;       22.5   Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Coastal Corporation Ltd              LT Bk Fac         CARE BB+;     650    Revised from
                                                                            CARE BBB-;
Issuer not cooperating; based on best available information
Datta Krupa Roller Flour Mill Pvt LtdLT Bk Fac         CARE D;       250    Revised from
                                                                            CARE C
Issuer not cooperating; based on best available information
East India Commercial Co. Ltd        LT/ST Bk Fac      CARE BB;      80     Revised from
                                                       Stable /CARE         CARE BB+;
                                                       A4;                  Stable/CARE A4+;
Issuer not cooperating; based on best available information
East India Commercial Co. Ltd        LT Bk Fac         CARE BB;      409.3  Revised from
                                                       Stable;              CARE BB+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Hmda Ancon Kcp Logistics Park Pvt LtdLT BkFac          CARE B-;      130    Revised from
                                                       Stable ;             CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Icoat Projects Pvt Ltd               LT Bk Fac         CARE B;       40     Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
India Mega Agro - Anaj Ltd           LT Bk Fac         CARE D;       250
Issuer not cooperating; based on best available information
Indo Fabrics                         Long –term Bk Fac CARE BB-;     105.8  Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Jayalakshmi Sea Foods Pvt Ltd        LT/ST Bk Fac      CARE BB+/CARE 390    Revised from
                                                       A4+;                 CARE
                                                                            BBB-/CARE A3
Issuer not cooperating; based on best available information
Jindal Power Ltd                     LT Bk Fac (TL)    CARE BBB+;    30395.3Reaffirmed
                                                       Negative
Outlook revised to Negative from Stable
K. P. G. Enterprise                  LT BkFac          CARE B+;      60     Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Krushnaraj Bio Fuel Pvt Ltd          LT Bk Fac         CARE D        125    Revised from
                                                                            CARE B;
                                                                            Stable;
Manmeet Singh Bhatia                 LT Bk Fac         CARE C;       30     revised from
                                                       Stable;              CARE B;
                                                                            Stable;
Issuer not cooperating; based on best available information
Marque Impex                         LT Bk Fac         CARE BBB;     626.3  Reaffirmed
                                                       Negative
Outlook revised from “Stable” to “Negative”
Modern Education Foundation          LT Bk Fac (TL)    -             -      Withdrawn
Nalli Chinnasami Chetty              LT Bk Fac         CARE BBB+;    12.1   Revised from
                                                       Negative             CARE BBB+;
                                                                            Stable
Neha International Ltd               LT Bk Fac         CARE D;       56
Issuer not cooperating; based on best available information
Palaparthi Super Speciality HospitalsLT Bk Fac         CARE D;       700
Pvt Ltd
Issuer not cooperating; based on best available information
Prabhat Saw Mill (Pollachi)          LT Bk Fac         CARE B+;      5      Assigned
                                                       Stable
R.E. Cables & Conductors Pvt Ltd     LT Bk Fac         CARE D;       628
Issuer not cooperating; based on best available information
Resurgent Power Projects Ltd         LT/ST Bk Fac      CARE D/CARE D;50
Issuer not cooperating; based on best available information
Resurgent Power Projects Ltd         LT Bk Fac         CARE D;       240
Issuer not cooperating; based on best available information
Rk Trade Vision Pvt Ltd              LT Bk Fac         CARE B-;      80     Revised from
                                                                            CARE B
Issuer not cooperating; based on best available information
S. D. Corporation Pvt Ltd            NCDs              -             -      Withdrawn
S. Satyanarayana And Company         LT /ST Bk Fac     CARE C;       120    Revised from
                                                       Stable/CARE A4;      CARE B+;
                                                                            Stable /CARE A4
Issuer not cooperating; based on best available information
S. Satyanarayana And Company         LT Bk Fac         CARE C;       25     Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Sai Balaji Constructions             LT BkFac          CARE B-;      40     Revised from
                                                       Stable;              CARE B; Stable
Issuer not cooperating; based on best available information
Shree Chhatrapati Sahakari Sakhar    LT Bk Fac         CARE B;       450    Revised from
Karkhana Ltd                                           Stable;              CARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Shri Ambika Traders                  LT Bk Fac         CARE B-;      60     Revised from
                                                       Stable;              CARE B+ Stable
Issuer not cooperating; based on best available information
Sri Madan Gopal Bhikam Chand         LT/ST Bk Fac      CARE D/CARE D;100
Marketink Pvt Ltd
Issuer not cooperating; based on best available information
Sri Selvanaayaki Textile             Long –term Bk Fac CARE B+;      200    Revised from
                                                       Stable;              CARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Srishti Builders                     LT Bk Fac         CARE C;       90     Revised from
                                                       Stable;              CARE B Stable
Issuer not cooperating; based on best available information
Star Raison Landmarks                LT Bk Fac         CARE D;       400    Revised from
                                                                            CARE B+ Stable
Issuer not cooperating; based on best available information
Sterling Biotech Ltd                 LT Bk Fac         CARE D;       37680
Issuer not cooperating; based on best available information
Sterling Oil Resources Ltd           LT Bk Fac         CARE D;       2997.2
Issuer not cooperating; based on best available information
Talluri Textiles Pvt Ltd             LT Bk Fac         CARE BB-;     343.9  Revised from
                                                       Stable;              CARE BB;
                                                                            Stable
Issuer not cooperating; based on best available information
Thirumalsree Spinners Pvt Ltd        Long -term Bk Fac CARE B+;      100
                                                       Stable;
Issuer not cooperating; based on best available information
Tirupati Fibers                      LT Bk Fac         CARE B- ;     80     Revised from
                                                       Stable;              CARE B+ Stable
Issuer not cooperating; based on best available information
Ultra Alluminium Pvt Ltd             LT Bk Fac         CARE B;       83     Revised from
                                                       Stable;              CARE BB;
                                                                            Stable
Issuer not cooperating; based on best available information
Unosack Flexible Packaging Pvt Ltd   LT/ST Bk Fac      CARE C;       50     Revised from
                                                       Stable/CARE A4;      CARE B-;
                                                                            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@refinitiv.com)
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