May 27, 2020 / 6:11 AM / a month ago

CARE ratings for Indian debt instruments-May 27

    May 27  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of May 26, 2020.

COMPANY                              INSTRUMENT        RATING      AMOUNT   MOVEMENT
                                                                   (RS.MLN)
-------                              ----------        ------      -------  ---------
SHORT TERM RATINGS:
-------------------
Apollo Zipper India Ltd              ST Bk Fac         CARE A3       50     Revised from
                                                                            CARE A3+ (CE)
rating put under credit watch with negative implications
Arka Carbon Fuels Pvt Ltd            ST Bk Fac         CARE D;       1200
Issuer not cooperating; based on best available information
Bharat Hotels Ltd                    ST BkFac          CARE A3       550    Revised from
                                                                            CARE A3+ (CE)
rating put under credit watch with negative implications
Dhundhwal Brothers                   ST Bk Fac         CARE A4;      60     -
Issuer not cooperating; based on best available information
Dudi And Company                     ST Bk Fac         CARE A4;      120    -
Issuer not cooperating; based on best available information
Embassy One Developers Pvt Ltd       ST Bk Fac- LC     CARE A4+      100    Reaffirmed
Jaywant Sugars Ltd                   ST BkFac          CARE A4;      60     Reaffirmed
Jog Construction Company Pvt Ltd     ST BkFac          CARE A4;      20     -
Issuer not cooperating; based on best available information
M.P.K. Metals Pvt Ltd                ST Bk Fac         CARE D;       7.2    -
Issuer not cooperating; based on best available information
Swastik Coal Corporation Pvt Ltd     ST BkFac          CARE D;       3200   -
Issuer not cooperating; based on best available information
K.H.T. Agencies Pvt Ltd              ST BkFac          CARE A4;      370    -
Issuer not cooperating; based on best available information
Kujjal Hotels Pvt Ltd                STBk Fac          CARE A3       105    Revised from
                                                                            CARE A3+ (CE)
rating put under credit watch with negative implications
Seamec Ltd                           ST Bk Fac         -             -      Reaffirmed at
                                                                            CARE A2
                                                                            andWithdrawn
Gautam Solar Pvt Ltd                 ST BkFac          -             -      Revised from
                                                                            CARE A2;and
                                                                            withdrawn
Issuer not cooperating; based on best available information
L.G. Agro Impex                      Short- term BkFac CARE A4,      30     -
Issuer not cooperating; based on best available information
Sidd’S Jewels India Llp              ST Bk Fac         CARE A3       13.6   Reaffirmed

LONG TERM RATINGS:
-------------------
A.P. International                   LT BkFac          CARE B;Stable;59.1   Revised from
                                                                            CARE
                                                                            B+;Stable;
Issuer not cooperating; based on best available information
Apollo Zipper India Ltd              LT Bk Fac         CARE BBB-     1066.7 Revised from
                                                                            CARE BBB (CE)
rating put under credit watch with negative implications
Arka Carbon Fuels Pvt Ltd            LT Bk Fac         CARE D;       100
Issuer not cooperating; based on best available information
Bag Poly Enterprises                 LT BkFac          CARE B;Stable;62.3   Revised from
                                                                            CARE
                                                                            B+;Stable;
Issuer not cooperating; based on best available information
Bhai Gurdas Technical Educational    LT BkFac          CARE          25     Revised from
Trust                                                  B+;Stable;           CARE BB-;
                                                                            Stable;
Issuer not cooperating; based on best available information
Bharat Hotels Ltd                    LT BkFac          CARE BBB-     12158.1Revised from
                                                                            CARE BBB (CE)
rating put under credit watch with negative implications
Creative Textile Mills Pvt Ltd       LT/ST Bk Fac Total-             -      Reaffirmed at
                                     Fac                                    CARE BBB;
                                                                            Negative;/ CARE A3;
Issuer not cooperating; based on best available information
Dhundhwal Brothers                   LT Bk Fac         CARE B;       20     Revised from
                                                                            CARE B+
Issuer not cooperating; based on best available information
Dudi And Company                     LT Bk Fac         CARE B;       25     Revised from
                                                                            CARE B+
Issuer not cooperating; based on best available information
Dvara Kshetriya Gramin Financial     LT Bk Fac         CARE BBB;     2365.7 Reaffirmed
Services Pvt Ltd                                       Stable
Outlook revised from Positive to Stable
Dvara Kshetriya Gramin Financial     NCDissue-II       CARE BBB;     200    Reaffirmed
Services Pvt Ltd                                       Stable
Outlook revised from Positive to Stable
Dvara Kshetriya Gramin Financial     NCDissue-III      CARE BBB;     500    Reaffirmed
Services Pvt Ltd                                       Stable
Outlook revised from Positive to Stable
Dvara Kshetriya Gramin Financial     LT/ST BkFac       CARE BBB;     654.3  Reaffirmed
Services Pvt Ltd                     (Proposed)        Stable /CARE
                                                       A3+
Outlook revised from Positive to Stable
Embassy One Developers Pvt Ltd       LT Bk Fac- TL     -             -      Re-affirmed
                                                                            at CARE BB+;
                                                                            Stable and Withdrawn
Embassy One Developers Pvt Ltd       LT Bk Fac- BG     CARE BB+;     500    Reaffirmed
                                                       Stable
Sakku Spinning Mills Pvt Ltd         LT/ST Bk Fac      CARE A4;      1160   -
Issuer not cooperating; based on best available information
Ganapathi Stone Crusher              LT Bk Fac         CARE BB-;     240    Revised from
                                                       Stable;              CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Gautam Solar Pvt Ltd                 LT BkFac          -             -      Revised from
                                                                            CARE BBB;
                                                                            Stable; to CARE
BBB-; Stable; and withdrawn
Issuer not cooperating; based on best available information
Gautam Solar Pvt Ltd                 LT / Shortterm Bk -             -      Revised from
                                     Fac                                    CARE BBB;
                                                                            Stable/ CARE A2 to
                                                                            CARE BBB-; Stable/
                                                                            CARE A3; and
                                                                            withdrawn
Issuer not cooperating; based on best available information
Innovation Trust Xix Mar’14          Series A PTCs     -             -      Withdrawn
(Originator: Indiabulls Housing Finance
Ltd)
Innovation Trust Xv Dec 13 (OriginatoSeries A PTCs     -             -      Withdrawn
Indiabulls Housing Finance Ltd)
Jaywant Sugars Ltd                   LT BkFac          CARE B+;      1189.5 Revised from
                                                       Stable               CARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Jog Construction Company Pvt Ltd     LT BkFac          CARE B-;      60     Revised from
                                                                            CARE B+;
Issuer not cooperating; based on best available information
K.H.T. Agencies Pvt Ltd              LT Bk Fac         CARE B;       530.6  Revised from
                                                       Stable;              CARE B+;
                                                                            Stable;
Issuer not cooperating; based on best available information
Kujjal Hotels Pvt Ltd                LTBk Fac          CARE BBB-     1060   Revised from
                                                                            CARE BBB (CE)
rating put under credit watch with negative implications
L.G. Agro Impex                      LT BkFac          CARE          60     Revised from
                                                       B-;Stable;           CARE B; Stable
Issuer not cooperating; based on best available information
M.P.K. Metals Pvt Ltd                LT Bk Fac         CARE D;       64.1   -
Issuer not cooperating; based on best available information
Mahalaxmi Industries                 LT BkFac          CARE B;       67.6   -
                                                       Stable;
Issuer not cooperating; based on best available information
Modi Solvex                          LT BkFac          CARE B;       102.5  Revised from
                                                       Stable;              CARE
                                                                            B+;Stable;
Issuer not cooperating; based on best available information
Prakash Electrical Engineering       LT BkFac          CARE B;       100    Revised
Corporation                                            Stable;              fromCARE BB-;
                                                                            Stable
Issuer not cooperating; based on best available information
Sakku Spinning Mills Pvt Ltd         LT Bk Fac         CARE B+;      581.8  Revised from
                                                       Stable;              CARE BB-;
Issuer not cooperating; based on best available information
Seamec Ltd                           LT/ST Bk Fac      -             -      Reaffirmed at
                                                                            CARE BBB+;
                                                                            Stable/CARE A2
                                                                            and Withdrawn
Sidd’S Jewels India Llp              Long -term Bk Fac CARE BBB-;    32     Reaffirmed
                                                       Negative
Outlook revised from Stable to Negative
Sidd’S Jewels India Llp              Long/ST BkFac     CARE BBB-;    1362.5 Reaffirmed
                                                       Negative /CARE
                                                       A3
Outlook revised from Stable to Negative
Sidd’S Jewels Pvt Ltd                Long/ST BkFac     CARE BBB-;    4053.6 Reaffirmed
                                                       Negative/CARE
                                                       A3
Outlook revised from Stable to Negative
St. Patricks Realty Pvt Ltd          LT BkFac          CARE BBB      1750   Reaffirmed
outlook revised from Positive
Sulabh Pharmaceutical Pvt Ltd        LT Bk Fac         CARE D        120    Revised from
                                                                            CARE BB;
                                                                            Stable;
Issuer not cooperating; based on best available information
Swastik Coal Corporation Pvt Ltd     LT BkFac          CARE D;       550    -
Issuer not cooperating; based on best available information
Sweta Estates Pvt Ltd                LT Bk Fac         CARE BBB      3630   Reaffirmed
outlook revised from Positive
Venkatesh Associates                 LT BkFac          CARE C;       200    Revised from
                                                       Stable;              CARE B+;
                                                                            Stable
Issuer not cooperating; based on best available information
Vijai Marine Services                LTBk Fac          CARE BB-;     54     Revised from
                                                       Stable;              CARE BB+;
                                                                            Stable
Issuer not cooperating; based on best available information
Vijai Marine Services                Long/ ST BkFac    CARE BB-;     350    Revised
                                                       Stable; /CARE        fromCARE BB+;
                                                       A4;                  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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