November 12, 2019 / 5:48 AM / 4 months ago

CARE ratings for Indian debt instruments-Nov 12

   Nov 12 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 11, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Adage Automation Pvt Ltd              ST Bk Fac (Standby -              -       Withdrawn
                                      LOC)
Adage Automation Pvt Ltd              ST Bk Fac (Forward CARE A3        5       Reaffirmed
                                      Contract)
Ankita Agro And Food Processing Pvt Ltd ST Bk Fac        CARE A4        37.5    Reaffirmed
                                                                                and Revoked
                                                                                from 
                                                                                Issuer
                                                                                Non
                                                                                Cooperating
(Issuer not cooperating;Based on best available information)
C. P. Bagal And Company               ST BkFac           CARE A4        24      Reaffirmed
Crab And Taur Engineers Pvt Ltd       ST Bk Fac          CARE A4        120     Reaffirmed
Grampus Laboratories                  ST Bk Fac          CARE A4        10      -
(Issuer not cooperating;Based on best available information)
Laxmi Transmissions                   ST Bk Fac          CARE A4        280     Reaffirmed
Mojj Engineering Systems Ltd          ST Bk Fac          CARE A4        310     Reaffirmed
(enhanced from Rs.18 crore Crore)
Netafim Agricultural Financing Agency ST BkFac           CARE A3+       1650    Revised from
Pvt Ltd                                                                         CARE A2+
Power Finance Corporation Ltd         ST market          CARE A1+       20000   Reaffirmed
                                      borrowing
                                      programme for FY20
(Reduced from Rs.7,000 cr Crore)
RTS Power Corporation Ltd             ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4+ and
                                                                                withdrawn
Power Finance Corporation Ltd         CP issue for FY20  CARE A1+       100000  Reaffirmed
(reduced from Rs.18,000 cr Crore)
Rajda Industries And Exports Pvt Ltd  ST Bk Fac          CARE A4        200     -
(Issuer not cooperating;Based on best available information)
S.K. Brothers                         ST Bk Fac          CARE A4        20      -
(Issuer not cooperating;Based on best available information)
Sham Electric Stores                  ST Bk Fac          CARE A4+       75      Reaffirmed
Steelman Industries                   ST BkFac           CARE A4        80      -
(Issuer not cooperating;Based on best available information)


LONG TERM RATINGS:
-------------------
Adage Automation Pvt Ltd              LT Bk Fac          CARE BBB-      130     Reaffirmed
Adage Automation Pvt Ltd              LT/ST BkFac        CARE BBB-/CARE 130     Reaffirmed
                                                         A3
Agrawal Automobiles                   LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Agrawal Automobiles                   LT/ST Bk Fac       -              -       Reaffirmed
                                                                                and Withdrawn
Ankita Agro And Food Processing Pvt Ltd LT Bk Fac        CARE B         78.6    Revised from
                                                                                CARE B-
(Issuer not cooperating;Based on best available information)
Boudh Distillery Pvt Ltd              LT Bk Fac          CARE BB+       700     Assigned
C. P. Bagal And Company               LT BkFac           CARE B+        50      Revised from
                                                                                CARE BB-
Crab And Taur Engineers Pvt Ltd       LT Bk Fac          CARE BB-       45      Reaffirmed
Foundation For Life Sciences And      LT Bk Fac          -              -       Reaffirmed at
Business Management (Shoolini                                                   CARE BB-
University)
(Issuer not cooperating;Based on best available information)
Grampus Laboratories                  LT Bk Fac          CARE B         37.1    -
(Issuer not cooperating;Based on best available information)
J.N. Tayal Steels Pvt Ltd             LT Bk Fac          CARE B+        62.9    -
(Issuer not cooperating;Based on best available information)
Jagdambay Exports                     LT Bk Fac          CARE B         105.7   -
(Issuer not cooperating;Based on best available information)
Laxmi Transmissions                   LT Bk Fac          CARE BB        100     Reaffirmed
Mojj Engineering Systems Ltd          LT Bk Fac          CARE B         73.8    Reaffirmed
Netafim Agricultural Financing Agency LT BkFac           CARE BBB+      2840    Revised from
Pvt Ltd                                                                         CARE A-
(reduced from 296.46 Crore)
Power Finance Corporation Ltd         Long term market   CARE AAA       690000  Reaffirmed
                                      borrowing
                                      programme for FY20
(Increased from Rs.56,000 cr Crore)
Rajda Industries And Exports Pvt Ltd  LT Bk Fac          CARE BB-       61.4    -
(Issuer not cooperating;Based on best available information)
Rajda Industries And Exports Pvt Ltd  LT/ST Bk Fac       CARE BB- /CARE 220     -
                                                         A4
(Issuer not cooperating;Based on best available information)
Rts Power Corporation Ltd             LT/ ST Bk Fac      -              -       Reaffirmed at
                                                                                CARE BB+
S. S. Nath & Company                  LT Bk Fac          CARE BB-       100     Revised from
                                                                                CARE BB
(Issuer not cooperating;Based on best available information)
S.K. Brothers                         LT Bk Fac          CARE B+        41      Revised from
                                                                                CARE BB-
(Issuer not cooperating;Based on best available information)
S.K. Brothers                         LT/ ST Bk Fac      CARE B+ /CARE  75      Revised from
                                                         A4                     CARE BB-
(Issuer not cooperating;Based on best available information)
Sham Electric Stores                  LT Bk Fac          CARE BB+       24      Reaffirmed
Steelman Industries                   LT Bk Fac          CARE BB-       65      -
(Issuer not cooperating;Based on best available information)
Stella Udyog                          LT/ ST Bk Fac      CARE B /CARE A470      -
(Issuer not cooperating;Based on best available information)
Swadeshi Footwear                     LT Bk Fac          CARE BB-       80      Assigned
Swadeshi Footwear                     LT/ST Bk Fac       CARE BB-;      10      Assigned
                                                         Stable/CARE A4
Vamsadhara Ginning And Pressing       LT Bk Fac          CARE B         150     Revised from
Industries                                                                      CARE B+
(Issuer not cooperating;Based on best available information)
Zimidara Pesticides                   LT Bk Fac          CARE B         100     Revised from
                                                                                CARE B+
(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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