November 13, 2019 / 8:15 AM / 24 days ago

CARE ratings for Indian debt instruments-Nov 13

   Nov 13 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 12, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Balaji Motors                         ST Bk Fac          CARE A4        70      Removed from
                                                                                Non
                                                                                Cooperation 
                                                                                and 
                                                                                Reaffirmed
Rajat Infra Developers Pvt Ltd        ST Bk Fac          CARE D         70      -
(Issuer Not Cooperating; Based on best available information)
Bhagiradha Chemicals And Industries Ltd ST Bk Fac        CARE A3+       285     -

(Placed on Credit watch with Negative Implications)
K.P.R Constructions                   ST Bk Fac          CARE A4        200     Revised from
                                                                                CARE A4+
Origo Commodities India Pvt Ltd       ST Bk Fac          CARE A3        50      Reaffirmed
Sri Venkata Lakshmi Narasimha SpinningST Bk Fac          CARE A4+       37.3    Reaffirmed
Mills Pvt Ltd
Torneto Foods International Pvt Ltd   ST Bk Fac          CARE D         2.5     -
(Issuer not cooperating)  revised from CARE A4;
Y.S.R. Spinning And Weaving Mills Pvt ST Bk Fac          CARE A4+       3       Assigned
Ltd

LONG TERM RATINGS:
-------------------
ABA Infratech Pvt Ltd                 LT Bk Fac          CARE B+        300     Assigned
APCO Chetak Expressway Pvt Ltd        LT Bk Fac – Non    -              -       Withdrawn
                                      Fund based
Apco Chetak Expressway Pvt Ltd        LT Bk Fac – Fund   CARE A         5500    Reaffirmed
                                      based
Balaji Motors                         LT Bk Fac          CARE BB-       51.9    Removed from
                                                                                Non
                                                                                Cooperation 
                                                                                and 
                                                                                Reaffirmed
Bhagiradha Chemicals And Industries Ltd LT Bk Fac        CARE BBB       454.6   -
(Placed on Credit watch with Negative Implications)
Gaurav Worldwide Trading Pvt Ltd      LT/ST Bk Fac       CARE B+;       500     Assigned
                                                         Stable/CARE A4
Indiabulls Real Estate Ltd            CP                 -              -       Withdrawn
K.P.R Constructions                   LT Bk Fac          CARE BB+       50      Revised from
                                                                                CARE BB+
Navayuga Jahnavi Toll Bridge Pvt Ltd  LT Bk Fac          CARE D         7200    Reaffirmed
Origo Commodities India Pvt Ltd       LT Bk Fac          CARE BBB       1570    Reaffirmed
Origo Commodities India Pvt Ltd       LT Bk Fac (TL)     CARE BBB       300     Assigned
Origo Commodities India Pvt Ltd       NCD issue Proposed CARE BBB       200     Assigned
Rajat Infra Developers Pvt Ltd        LT Bk Fac          CARE D         30      -
(Issuer not cooperating) Revised from CAREB+
Reliance Business Broadcast News      NCD issue (NCD)-1  -              -       Withdrawn
Holdings Ltd
Reliance Business Broadcast News      NCD issue (NCD)-2  -              -       Withdrawn
Holdings Ltd
Reliance Business Broadcast News      NCD issue (NCD)-3  -              -       Withdrawn
Holdings Ltd
Roy Apparels Pvt Ltd                  LT Bk Fac          CARE B+        98.6    -
(Issuer not cooperating) Revised form CARE BB-
Sethia Oils Ltd                       LT Bk Fac          CARE BB        105     -
(Issuer not cooperating) Revised from CARE BB+
Shirke Club Management Llp            LT Bk Fac-TL#      CARE BBB+ (CE) 262.5   Revised from
                                                                                CARE A-
# backed by irrevocable Letter of Comfort (LoC) extended by B.G. Shirke 
Construction Technology Private Limited (BGSCTPL)
Sri Venkata Lakshmi Narasimha SpinningLT Bk Fac          CARE BB+       225.8   Reaffirmed
Mills Pvt Ltd
Sylvanus Properties Ltd               CP                 -              -       Withdrawn
Torneto Foods International Pvt Ltd   LT Bk Fac          CARE D         36.1    -
(Issuer not cooperating)  revised from CARE B+;
Torneto Foods International Pvt Ltd   LT/ST Bk Fac       CARE D/CARE D; 30      -
(Issuer not cooperating) revised from CARE B+; Stable/ CARE A4;
Y.S.R. Spinning And Weaving Mills Pvt LT Bk Fac          CARE BB+       197     Assigned
Ltd
--------------------------------------------------------------------------------------------
$: 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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