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CARE ratings for Indian debt instruments-Nov 10

    Nov 10  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of November 9, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ahimsa Industries Ltd                 ST Bk Fac          CARE A4;       50      Revised from
                                                                                CARE A4+
(moved to Issuer Not Cooperating category)
Beam Cox Constructions Pvt Ltd        ST Bk Fac          CARE D         5       -
(Rating continues to remain under Issuer Not Cooperating category)
B. D. Overseas & Fiscal Services Ltd  ST Bk Fac          -              -       Withdrawn
Circle Infotech Pvt Ltd               ST Bk Fac          CARE A4;       45      -

(Rating continues to remain under Issuer Not Cooperating category)
Eastern Copper Manufacturing Company  ST Bk Fac          CARE A4        120     Reaffirmed
Pvt Ltd
Edelweiss Finance And Investment Ltd  NCD (ST)           CARE A1+       2000    Assigned
Edelweiss Finance And Investment Ltd  CP (IPO Financing) CARE A1+       25000   Reaffirmed
Edelweiss Finance And Investment Ltd  Principal          CARE PP-MLD A1+2500    Assigned
                                      Protected Market
                                      Linked debentures (ST)
Edelweiss Securities Ltd              Principal          CARE PP-MLD    1000    Assigned
                                      Protected          A1+
                                      MarketLinked debentures (ST)
Feedback Energy Distribution Co. Ltd  Short term Bk      CARE A4;       600     Revised from
                                      Fac- TL                                   CARE A3 (CE).
(Revision in credit watch from negative implications to developing implications.)
Glocal Healthcare Systems Pvt Ltd     ST Bk Fac          CARE A4        50      -
(Issuer Not Cooperating)
Gopal Glass Works Ltd                 ST Bk Fac          CARE A2+       78      Reaffirmed
Jain Cord Industries Pvt Ltd          ST BkFac           CARE A4+       50      Reaffirmed
Jain Cord Industries Pvt Ltd          ST BkFac           CARE A4+       38.2    Revised from
                                                                                CARE BB+;
                                                                                Stable /CARE A4+
(Enhanced from 1.21 Crore)
Kpc Medical College & Hospital        ST BkFac           CARE D         100     -
(Issuer Not Cooperating)
Maini Construction Equipments Pvt Ltd ST Bk Fac          -              -       Withdrawn
Maharaja Paper Industries Pvt Ltd     ST Bk Fac          CARE A4;       30      -
(Issuer Not Cooperating)
Mahavir Coal Washeries Pvt Ltd        ST Bk Fac          CARE A4        40      -
Rating continues to remain under Issuer Not Cooperating category
Manohar Food Industry                 ST Bk Fac          CARE A4;       42.5    -
(Rating continues to remain under Issuer Not Cooperating category)
Maynaguri Agro Tea Pvt Ltd            ST Bk Fac          CARE A4        5.9     Reaffirmed
Mettu Chinna Mallareddy Godowns       ST Bk Fac          CARE D         2.3     -
(Issuer Not Cooperating)
Metroglobal Ltd                       ST Bk Fac          -              -       Withdrawn
Mec Shot Blasting Equipments Pvt Ltd  ST Bk Fac          -              -       Withdrawn
N S Mint Products Pvt Ltd             ST Bk Facility –   CARE A3        40      Reaffirmed
                                      Non Fund Based
(enhanced from 2.00 Crore)
P Damodara Raju                       ST Bk Fac          CARE A4        30      -
(Issuer Not Cooperating)
Rajasthan Drugs And Pharmaceuticals   ST Bk Fac          -              -       Withdrawn
Ltd
Santoshi Rice And General Mills       ST Bk Fac          CARE A4;       20      -
(Rating continues to remain under Issuer Not Cooperating category)
Shakti Industries                     ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4 and
                                                                                withdrawn
(Issuer Not Cooperating)
Srei Equipment Finance Ltd            ST Bk Fac          CARE A3+       10580   -
(Placed on Credit Watch with Developing Implications)
Skm Steels Ltd                        ST Non Fund Based  -              -       Reaffirmed at
                                      BkFac                                     CARE BBB+,
                                                                                Outlook:
                                                                                Negative/ CARE
                                                                                A2 and Withdrawn
Sriyansh Knitters                     ST Bk Fac          CARE A4        15      -
(Issuer Not Cooperating)
Sterling Biotech Ltd                  ST Bk Fac          -              -       Withdrawn
Sterling Cast And Forge               ST Bk Fac          CARE A4        20      -
(Issuer Not Cooperating)
Yuva Shakthi Enterprises              ST Bk Fac          CARE A4;       100     -
(Rating continues to remain under Issuer Not Cooperating category)
 
 
MEDIUM TERM RATINGS:
-------------------
D. S. Kulkarni Developers Ltd         Fixed Deposits     -              -       Withdrawn
 
 
LONG TERM RATINGS:
-------------------
A V Overseas                          LT Bk Fac          CARE B+; Stable75      -
(Issuer Not Cooperating)
Adeline Pharma Pvt Ltd                LT Bk Fac@         CARE A (CE);   280     Reaffirmed
                                                         Stable
(Enhanced from 20.00 Crore)/@ backed by the unconditional and irrevocable corporate guarantee
provided by Keimed Private Limited (rated CARE A; Stable )
Ahimsa Industries Ltd                 LT / ST Bk Fac     CARE BB;       70      Revised from
                                                         Stable /CARE           CARE BB+;
                                                         A4;                    Stable /CARE A4+
(moved to Issuer Not Cooperating category)
Ahimsa Industries Ltd                 LT Bk Fac          CARE BB;       6.5     Revised from
                                                         Stable;                CARE BB+;
                                                                                Stable
(moved to Issuer Not Cooperating category)
All Well Hospital & Research InstituteLT Bk Fac          -              -       withdrawn
Pvt Ltd
Anandeshwar Rice Industries           LT Bk Fac          CARE B-; Stable60      Revised from
                                                                                CARE B; Stable
(Issuer Not Cooperating)
B. D. Overseas & Fiscal Services Ltd  LT Bk Fac          -              -       Withdrawn
Beam Cox Constructions Pvt Ltd        LT Bk Fac          CARE D         60      -
(Rating continues to remain under Issuer Not Cooperating category)
Cccl Infrastructure Ltd               LT Bk Fac          CARE D;        550     -
Rating continues to remain under Issuer Not Cooperating category
Circle Infotech Pvt Ltd               LT Bk Fac          CARE B-; Stable120     Revised from
                                                                                CARE B+;
                                                                                Stable
(ating continues to remain under Issuer Not Cooperating category)
Cotton Works                          LT BkFac           CARE BB+;      119.5   Reaffirmed
                                                         Stable
(Reduced from 14.08 Crore)
Cotton Works                          LT/ Shortterm Bk   CARE BB+;      6.7     Reaffirmed
                                      Fac                Stable/CARE A4+
(Reduced from 0.87 Crore)
D. S. Kulkarni Developers Ltd         LT Bk Fac          -              -       Withdrawn
D. S. Kulkarni Developers Ltd         Non- Convertible   -              -       Withdrawn
                                      Debentures
Dhroov Resorts                        LT Bk Fac          CARE D;        110     -
(Rating continues to remain under Issuer Not Cooperting category)
Eastern Copper Manufacturing Company  LT Bk Fac          CARE B+; Stable38.8    Revised from
Pvt Ltd                                                                         CARE B; Stable
Edelweiss Finance And Investment Ltd  NCD(Public Issue)  CARE A+;       2500    Assigned
                                                         Stable
Edelweiss Securities Ltd              Principal          CARE PP MLD    1000    Assigned
                                      Protected Market   A+; Stable
                                      Linked debentures
Ess Pee Industrial Corporation        LT Bk Fac / ST Bk  CARE B- /CARE  34.5    Revised from
                                      Fac                A4;                    CARE B / CARE
                                                                                A4
(ssuer Not Cooperating)
Ess Pee Industrial Corporation        LT Bk Fac          CARE B-,       40.2    Revised from
                                                                                CARE B;
(Issuer Not Cooperating)
Feedback Energy Distribution Co. Ltd  Long /ST – Bk Fac  CARE BB /CARE  490     Revised from
                                      – Non fund based   A4;                    BBB-
                                      BG/LC                                     (CE)/CARE A3
                                                                                (CE).
(Revision in credit watch from negative implications to developing implications)
Feedback Energy Distribution Co. Ltd  LT Bk Fac- CC      CARE BB;       280     Revised from
                                                                                BBB- (CE).
(Revision in credit watch from negative implications to developing implications.)
Feedback Energy Distribution Co. Ltd  LT – Fund based–   CARE BB;       1816.8  Revised from
                                      TL                                        BBB- (CE).
(Revision in credit watch from negative implications to developing implications)
Feedback Highways Omt Pvt Ltd         LT Bk Fac-Fund     CARE BB+;      210     Revised from
                                      Based – CC         Stable                 BBB- (CE);
                                                                                and Stable
                                                                                outlook assigned
(Removed from Credit Watch with negative implications)
Feedback Highways Omt Pvt Ltd         LT/ST BkFac-Non    CARE BB+;      150     Revised from
                                      fund basedBG/LC    Stable /CARE           BBB-
                                                         A4+                    (CE)/CARE A3
                                                                                (CE); and Stable
                                                                                outlook
                                                                                assigned
(Removed fromCredit Watch with negative implications)
Flock Fabs (India)                    LT BkFac           CARE BB+;      127     Reaffirmed
                                                         Stable
(Reduced from 12.93 Crore)
Flock Fabs (India)                    LT / ST Bk Fac     CARE BB+;      7.7     Reaffirmed
                                                         Stable /CARE
                                                         A4+
(Reduced from 2.07 Crore)
Glocal Healthcare Systems Pvt Ltd     LT Bk Fac          CARE C; Stable 350     Revised from
                                                                                CARE B; Stable
(Issuer Not Cooperating)
Gopal Glass Works Ltd                 LT Bk Fac          CARE A-;       50      Reaffirmed
                                                         Stable
Indroyal Properties Pvt Ltd           LT Bk Fac          CARE D         235     -
(Rating continues to remain under Issuer Not Cooperating category)
Jagjit Enterprises Pvt Ltd            LT Bk Fac          CARE D         130     Revised from
                                                                                CARE B; Stable
Jain Cord Industries Pvt Ltd          LT BkFac           CARE BB+;      280     Reaffirmed
                                                         Stable
Jain Cord Industries Pvt Ltd          LT / ShortTerm     CARE BB+;      50      Assigned
                                      BkFac              Stable /CARE
                                                         A4+
Jain Cord Industries Pvt Ltd          LT / ShortTerm     CARE BB+;      351.8   Reaffirmed
                                      BkFac              Stable /CARE
                                                         A4+
(Reduced from 39.79 Crore)
Jindal Saw Ltd                        (ii) NCD           -              -       Withdrawn
Jindal Saw Ltd                        (i) Issuer Rating  CARE AA (Is);  -       Assigned
                                                         Stable
K.P. Chacko And Sons                  LT Bk Fac          CARE B+;       170     -
                                                         Stable;
(Issuer Not Cooperating)
Kpc Medical College & Hospital        LT Bk Fac          CARE D         893.9   -
(Issuer Not Cooperating)
Lavasa Corporation Ltd                LT Bk Fac – TL     -              -       withdrawn
Lavasa Corporation Ltd                LT Bk Fac – TL     -              -       withdrawn
Lavasa Corporation Ltd                LT instruments –   -              -       withdrawn
                                      NCD I
Lavasa Corporation Ltd                LT instruments –   -              -       withdrawn
                                      NCD IV
Lavasa Corporation Ltd                LT instruments –   -              -       withdrawn
                                      NCD V
Lavasa Corporation Ltd                CCPS               -              -       withdrawn
M.M. Polymers Pvt Ltd                 LT BkFac           CARE B; Stable 96.3    Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer Not Cooperating)
Maharaja Paper Industries Pvt Ltd     LT Bk Fac          CARE C; Stable 140.6   -
(Issuer Not Cooperating)
Mahavir Coal Washeries Pvt Ltd        LT Bk Fac          CARE BB-;      260     Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(Issuer Not Cooperating)
Mahavir Coal Washeries Pvt Ltd        LT / ST Bk Fac     CARE BB-;      100     Revised from
                                                         Stable /CARE A4        CARE BB;
                                                                                Stable / CARE A4
(Issuer Not Cooperating)
Mahestala Agro Foods Pvt Ltd          LT Bk Fac          CARE B+; Stable173     Revised from
                                                                                CARE BB-;
                                                                                Stable
(Issuer Not Cooperating)
Maini Construction Equipments Pvt Ltd LT Bk Fac          -              -       Withdrawn
Mangala Seeds                         LT Bk Fac          CARE B;        80      Revised from
                                                                                CARE B+
(Issuer Not Cooperating)
Manohar Food Industry                 LT Bk Fac          CARE B-,       30      Revised from
                                                                                CARE B;
((Rating continues to remain under Issuer Not Cooperating category)
Maynaguri Agro Tea Pvt Ltd            LT Bk Fac          CARE B+; Stable118.1   Reaffirmed
(reduced from 14.17 Crore)
Mbe Coal & Mineral Technology India   LT Bk Fac          CARE D         97.5    Revised from
Pva. Ltd                                                                        CARE C; Stable
(reduced from 10.00 Crore)
Mbe Coal & Mineral Technology India   LT Bk Fac          CARE D         85      Reaffirmed
Pva. Ltd
Mbe Coal & Mineral Technology India   LT/ST Bk Fac       CARE D/CARE D  75      Revised from
Pva. Ltd                                                                        CARE C;
                                                                                Stable/ CARE A4
(reduced from 10.00 Crore)
Mec Shot Blasting Equipments Pvt Ltd  LT/ST Bk Fac       -              -       Withdrawn
Mercator Petroleum Ltd                Long/ST Bk Fac     -              -       Withdrawn
                                      (TL)
Metroglobal Ltd                       LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BBB+;
                                                                                Stable and
                                                                                Withdrawn
Mettu Chinna Mallareddy Godowns       LT Bk Fac          CARE D         72.7    -
(Issuer Not Cooperating)
N S Mint Products Pvt Ltd             LT Back Facility – CARE BBB-;     560     Reaffirmed
                                      Fund Based         Stable
(enhanced from 48.00 Crore)
Neelkanth Drugs Pvt Ltd               LT Bk Fac@         CARE A (CE);   600     Reaffirmed
                                                         Stable
(Enhanced from 45.00 Crore)/@ backed by the unconditional and irrevocable corporate guarantee
provided by Keimed Private Limited (rated CARE A; Stable )
P Damodara Raju                       LT Bk Fac          CARE B+;       30      -
                                                         Stable;
Issuer Not Cooperating
Patna Highway Projects Ltd            LT Bk Fac          -              -       Withdrawn
Pl_Bl Securitization Trust Iii June   Series A PTCs      CARE AAA (SO)  2373.7  Reaffirmed
2019
Originator: Dhani Loans And
Services Ltd (Erstwhile Indiabulls Consumer Finance Ltd)
R. K. Engineers Sales Ltd             LT Bk Fac (CC)     CARE BBB;      50      Reaffirmed
                                                         Stable
R. K. Engineers Sales Ltd             LT/ST Bk Fac (BG)  CARE BBB;      1100    Reaffirmed
                                                         Stable/CARE A2
(enhanced from 90.00 crs)
Rajahmundry Godavari Bridge Ltd       LT Bk Fac          -              -       Withdrawn
Rajasthan Drugs And Pharmaceuticals   LT Bk Fac          -              -       Withdrawn
Ltd 
Ravi Teja Textiles                    LT Bk Fac          CARE D;        48.2    -
Issuer Not Cooperating
Riyara Trading                        LT Bk Fac          CARE BB-;      120     -
                                                         Stable
Issuer Not Cooperating
Rkc Infrabuilt (Savli-Halol) Road     LT Bk Fac@         -              -       Reaffirmed at
Project Pvt Ltd                                                                 CARE BBB+
                                                                                (CE); Stable and
                                                                                 Withdrawn
@ backed by unconditional and irrevocable corporate guarantee extended by RKC Infrabuilt Private
Limited (RKC)
Rkc Infrabuilt (Tarapur-Khambhat) RoadLT Bk Fac@         -              -       Reaffirmed at
Project Pvt Ltd                                                                 CARE BBB+
                                                                                (CE); Stable and
                                                                                 Withdrawn
@ backed by unconditional and irrevocable corporate guarantee extended by RKC Infrabuilt Private
Limited (RKC)
S S Constructions                     LT Bk Fac          CARE BB;       240     Assigned
                                                         Stable
Santoshi Rice And General Mills       LT Bk Fac          CARE B-;       58      Revised from
                                                                                CARE B;
(Rating continues to remain under Issuer Not Cooperating category)
Shakti Industries                     LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB-;
                                                                                Stable and
                                                                                withdrawn
(Issuer Not Cooperating)
Shri Jagannath Educational Health And LT Bk Fac          CARE D         142.9   -
Charitable Trust
(Rating continues to remain under Issuer Not Cooperating category)
Signet Industries Ltd                 LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B+ and
                                                                                Withdrawn
(Issuer Not Cooperating)
Signet Industries Ltd                 LT/ ST Bk Fac      -              -       Withdrawn
Skm Steels Ltd                        LT Bk Fac – TL     -              -       Reaffirmed at
                                                                                CARE BBB+,
                                                                                Outlook:
                                                                                Negative/ CARE
                                                                                A2 and Withdrawn
Skm Steels Ltd                        LT Fund Based      -              -       Reaffirmed at
                                      BkFac                                     CARE BBB+,
                                                                                Outlook: 
                                                                                Negative/ CARE
                                                                                A2 and Withdrawn
Smt. Sonpatti Devi Memorial Medical   LT Bk Fac          CARE B-;       55      Revised from
Trust                                                                           CARE B
(Rating continues to remain under Issuer Not Cooperating category)
Spencer’S Travel Services Ltd         LT Bk Fac          CARE B+; Stable150     Revised from
                                                                                CARE BB;
                                                                                Stable
(Issuer Not Cooperating)
Srei Equipment Finance Ltd            Unsecured          CARE BBB       1098    -
                                      Subordinated Tier
                                      II NCDs (Series IV, V, VII, & IX)
Placed on Credit Watch with Developing Implications /(reduced from 125.80 Crore)
Srei Equipment Finance Ltd            Perpetual debt     CARE BBB-      375     -
                                      (Series I)
Placed on Credit Watch with Developing Implications
Srei Equipment Finance Ltd            LT Bk Fac          CARE BBB+      158542.1-
Placed on Credit Watch with Developing Implications
Srei Equipment Finance Ltd            NCDs (NCDs)        CARE BBB+;     3521.5  -
                                      (Series VII, XII,
                                      XIV and XV)
Placed on Credit Watch with Developing Implications /(reduced from 502.15 Crore)
Srei Equipment Finance Ltd            Proposed NCD issue CARE BBB+;     3       -
Placed on Credit Watch with Developing Implications /(reduced from 502.15 Crore)
Sri Adhikari Brothers Television      Bk Fac-Rupee TL    -              -       Withdrawn
Network Ltd
Sri Maruthi Cashews                   LT Bk Fac          CARE B-; Stable64.6    Revised from
                                                                                CARE B; Stable
(moved to Issuer Not Cooperating category)
Sriyansh Knitters                     LT Bk Fac          CARE B-        115     Revised from
                                                                                CARE B
(Issuer Not Cooperating)
Sterling Biotech Ltd                  LT Bk Fac          -              -       Withdrawn
Sterling Cast And Forge               LT Bk Fac          CARE C         33.5    Revised from
                                                                                CARE B
(Issuer Not Cooperating)
Super Shiv Shakti Chemicals Pvt Ltd   LT Bk Fac          -              -       Withdrawn
Vijay Tanks And Vessels Pvt Ltd       LT BkFac           CARE A+; Stable1050    Reaffirmed
(enhanced from 85.00 Crore)
Vijay Tanks And Vessels Pvt Ltd       LT/STBk Fac        CARE A+;       7610    Reaffirmed
                                                         Stable/CARE A1+
(enhanced from 670.00 Crore)
Yes Bank Ltd                          Additional Tier I  -              -       Withdrawn
                                      Bonds (Basel III)#
(Reduced from Rs.3,600 crore Crore)/
 #: CARE has rated the aforesaid Basel III Compliant Tier-I Perpetual Bonds [Additional Tier I
Bonds (Basel III)] after taking into consideration its key features as mentioned below:
• The bank has full discretion at all times to cancel coupon payments.
• The coupon is to be paid out of current year profits. However, if the current year’s profits
are not sufficient, i.e., payment of such coupon is likely to result in losses during the
current year, the balance of coupon payment may be made out of reserves representing
appropriation of net profits, including statutory reserves and excluding share premium,
revaluation reserve, foreign currency translation reserve, investment reserve and reserves
created on amalgamation provided the bank meets the minimum regulatory requirements for Common
Equity Tier I [CET I], Tier I and Total Capital Ratios and capital buffer frameworks as
prescribed by the Reserve Bank of India      .
• The instrument may be written-down upon CET I breaching the pre-specified trigger of 5.5%
before March 31, 2021, and 6.125% on and after March 31, 2021, or written-off / converted into
common equity shares on occurrence of the trigger event called point of non-viability (PONV).
The PONV trigger shall be determined by RBI. 
Yes Bank Ltd                          Upper Tier II      CARE BB+;      9041    Revised from
                                      Bonds@             Stable                 CARE D Stable
                                                                                outlook assigned
@: CARE has rated the aforesaid Upper Tier II Bonds and the Perpetual Bonds after taking into
consideration their increased sensitivity to Yes Bank’s Capital Adequacy Ratio (CAR), capital
raising ability and profitability during the long tenure of the instruments. The rating factors
in the additional risk arising due to the existence of the lock-in clause in hybrid instruments.
Any delay in payment of interest/principal (as the case may be) following invocation of the
lock-in-clause, would constitute as an event of default as per CARE’s definition of default and
as such these instruments may exhibit a somewhat sharper migration of the rating compared with
conventional subordinated debt instruments.
Yes Bank Ltd                          Perpetual Bonds    CARE BB+;      820     Revised from
                                      (Basel II)@        Stable                 CARE D Stable
                                                                                outlook assigned
@: CARE has rated the aforesaid Upper Tier II Bonds and the Perpetual Bonds after taking into
consideration their increased sensitivity to Yes Bank’s Capital Adequacy Ratio (CAR), capital
raising ability and profitability during the long tenure of the instruments. The rating factors
in the additional risk arising due to the existence of the lock-in clause in hybrid instruments.
Any delay in payment of interest/principal (as the case may be) following invocation of the
lock-in-clause, would constitute as an event of default as per CARE’s definition of default and
as such these instruments may exhibit a somewhat sharper migration of the rating compared with
conventional subordinated debt instruments.
Yes Bank Ltd                          Infrastructure     CARE BBB;      50000   Revised from
                                      Bonds              Stable                 CARE B and
                                                                                Stable outlook
                                                                                assigned
(removed from Under Credit watch with Developing Implications)
Yes Bank Ltd                          Lower Tier II      CARE BBB;      22306   Revised from
                                      Bonds              Stable                 CARE B and
                                                                                Stable outlook
                                                                                assigned
(removed from Under Credit watch with Developing Implications)
Yes Bank Ltd                          Tier II Bonds      CARE BBB;      89000   Revised from
                                      (Basel III)*       Stable                 CARE C and
                                                                                outlook assigned
removed from Under Credit watch with Developing Implications; Stable/*: Tier II Bonds under
Basel III are characterized by a ‘Point of Non-Viability’ (PONV) trigger due to which the
investor may suffer a loss of principal. PONV will be determined by the Reserve Bank of India
(RBI) and is a point at which the bank may no longer remain a going concern on its own unless
appropriate measures are taken to revive its operations and thus, enable it to continue as a
going concern. In addition, the difficulties faced by a bank should be such that these are
likely to result in financial losses and raising the Common Equity Tier I capital of the bank
should be considered as the most appropriate way to prevent the bank from turning non-viable.
Yuva Shakthi Enterprises              LT Bk Fac          CARE B+; Stable29.5    Revised from
                                                                                CARE BB-;
                                                                                Stable;
(Issuer Not Cooperating)
Yuvaraj Cable Networks                LT Bk Fac          CARE C         58.7    Revised from
                                                                                CARE B;
(Issuer Not Cooperating)
--------------------------------------------------------------------------------------------
$: 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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