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CARE ratings for Indian debt instruments-Nov 13

   Nov 13  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of November 12, 2020.


COMPANY                              INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                    (RS.MLN)
-------                              ----------        ------        ------ ---------
SHORT TERM RATINGS:
-------------------
Aa Food Factory                      ST Bk Fac         CARE A4       75     -
(Rating moved to ISSUER NOT COOPERATING category)
Armstrong (India) Constructions      ST Bk Fac         -             -      -
(Reaffirmed at CARE A4 and Withdrawn)
A.E. Infra Projects Pvt Ltd          ST Bk Fac         CARE D;       50     -
(Rating moved to ISSUER NOT COOPERATING category)
Emco Ltd                             ST Bk Fac         -             -      Withdrawn
Bharti Buildcon                      ST Bk Fac         CARE A4;      80     -
(Rating moved to ISSUER NOT COOPERATING category)
C. P. Bagal And Company              ST Bk Fac         -             -      -
(Reaffirmed at CARE A4 (A Four) and withdrawn)
Cms Associates Pvt Ltd               ST Bk Fac         CARE A4;      48     -
(Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE A4+)
Sahanu Sponge And Power Pvt Ltd      ST Bk Fac         -             -      Withdrawn
E.I.D. Parry (India) Ltd             CP Issue          CARE A1+      6500   Reaffirmed
 
Gujarat Cooperative Milk Marketing   CP (CP) Issue     CARE A1+      8000   Reaffirmed
Federation Ltd
J V Steel Tubes                      ST Bk Fac         CARE A4;      20     -
(Rating moved to ISSUER NOT COOPERATING category)
Jk Infra Utilities Pvt Ltd           ST Bk Fac         CARE A4+      82.5   -
(Revised from CARE A3)
Jp Dyechem Pvt Ltd                   ST Bk Fac         CARE A4;      100    -
(Revised from CARE A4+ (A Four Plus) and moved to ISSUER NOT COOPERATING category)
Jsw Paradip Terminal Pvt Ltd         LT Bk Fac (TL)    CARE A1+ (CE) 4400@  -
(Placed on Credit Watch with Developing Implications. 
@backed by unconditional and irrevocable corporate guarantee by JSW Infrastructure Limited
(JSWIL)) 
Medeor Hospital Ltd                  ST Bk Fac         CARE D        580    -
(Revised from CARE A4 )
Jsw Paradip Terminal Pvt Ltd         LT Bk Fac (BG)    CARE A1+ (CE) 400@   -
(Placed on Credit Watch with Developing Implications. 
@backed by unconditional and irrevocable corporate guarantee by JSW Infrastructure Limited
(JSWIL)) 
Pragya Equities Pvt. Ltd.            ST Bk Fac         CARE A4       200    Reaffirmed
S M Interior Pvt Ltd                 ST Bk Fac         CARE A4       310.1  -
(Rating removed from ISSUER NOT COOPERATING category and Reaffirmed . (Enhanced from 2.90
Crore))
Velani Oils Pvt Ltd                  ST Bk Fac         CARE D        450    -
(Issuer not cooperating; Based on best available information)

 

LONG TERM RATINGS:
-------------------
A.E. Infra Projects Pvt Ltd          LT Bk Fac         CARE D;       50     -
(Rating moved to ISSUER NOT COOPERATING category)
Aa Food Factory                      LT Bk Fac         CARE B; Stable 15.5  -
(Revised from CARE B+; Stable (Single B Plus; Outlook: Stable) and moved to ISSUER NOT
COOPERATING category)
Armstrong (India) Constructions      LT Bk Fac         -             -      -
(Reaffirmed at CARE BB-;Outlook: Stable and Withdrawn)
Arohan Financial Services Ltd        NCDs           CARE A-; Stable  1500   Assigned
As Krishna Associates Pvt Ltd        LT Bk Fac       CARE BB; Stable 195    Assigned
As Krishna Associates Pvt Ltd        LT / ST Bk Fac    CARE BB;      105    Assigned
                                                       Stable /CARE A4
Asahi Songwon Colors Ltd             CP issue (Carved  -             -      Withdrawn
                                     out of Sanctioned
                                     fund based working capital limits)
Bharti Buildcon                      LT Bk Fac         CARE B+;      10     -
                                                       Stable;
(Revised from CARE BB-; Stable and moved to ISSUER NOT COOPERATING category)
C. P. Bagal And Company              LT Bk Fac         -             -      -
(Reaffirmed at CARE B+; Stable (Single B Plus; Outlook: Stable) and withdrawn)
Calyx Spaces Llp                     LT Bk Fac         CARE B+;      139.5  -
                                                       Stable;
(Revised from CARE BB-; Stable (Double B Minus; Outlook: Stable) and moved to ISSUER NOT
COOPERATING category)
Cmi Ltd                              LT Bk Fac (FBL)   CARE D        2200   Reaffirmed
Cmi Ltd                              LT Bk Fac (TL)    CARE D        869.9  Reaffirmed
Cmi Ltd                              LT / ST Bk Fac    CARE D/CARE D 2350   Reaffirmed
Cms Associates Pvt Ltd               LT Bk Fac         CARE B+;      30     -
                                                       Stable;
(Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE BB-)
Cosmos Infra                         LT Bk Fac         CARE BB; Stable 150  Assigned
Emco Ltd                             LT Bk Fac         -             -      Withdrawn
Global Impex (Delhi)                 LT Bk Fac         CARE BB; Stable 50   Assigned
Hi Tech Ferrous And Non Ferrous India LT Bk Fac        CARE B+;      320    Assigned
Pvt Ltd                                                Stable
India Shelter Finance Corporation Ltd Xerxes SBL IFMR  CARE A- (SO)  -      Reaffirmed
                                     Capital 2016
                                     -Series A1 PTCs
India Shelter Finance Corporation Ltd Xerxes SBL IFMR  CARE BBB (SO) -      -
                                     Capital 2016
                                     -Series A2 PTCs
(Rating Revised from CARE BBB- (SO))
J V Steel Tubes                      LT Bk Fac         CARE B; Stable 105   -
(Revised from CARE B+; Stable and moved to ISSUER NOT COOPERATING category)
J.M.A. Stores Pvt Ltd                LT Bk Fac         CARE BB; Stable 235  -
(Issuer not cooperating; Revised from CARE BB+; Stable, on the basis of best available
information)
Jk Infra Utilities Pvt Ltd           LT Bk Fac         CARE BB+;     5      -
                                                       Stable
(Revised from CARE BBB-; Stable)
Jk Infra Utilities Pvt Ltd           LT / ST Bk Fac    CARE BB+;     112.5  -
                                                       Stable /CARE
                                                       A4+
(Revised from CARE BBB-; Stable / CARE A3)
Jp Dyechem Pvt Ltd                   LT / ST Bk Fac    CARE BB;      30     -
                                                       Stable /CARE
                                                       A4;
(Revised from CARE BB+; Stable / CARE A4+ ; and moved to ISSUER NOT COOPERATING category)
Jp Dyechem Pvt Ltd                   LT Bk Fac         CARE BB;      20     -
                                                       Stable;
(Revised from CARE BB+; Stable; and moved to ISSUER NOT COOPERATING category)
Kl Export Pvt Ltd                    LT Bk Fac         CARE BB-;     74.5   -
                                                       Stable;
(Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE BB;
Stable)
Kn Bijapura Solar Energy Pvt Ltd     LT Bk Fac         -             -      Withdrawn
Kn Indivijayapura Solar Energy Pvt Ltd LT Bk Fac       -             -      Withdrawn
Kn Muddebihal Solar Energy Pvt Ltd   LT Bk Fac         -             -      Withdrawn
Kn Sindagi Solar Energy Pvt Ltd      LT Bk Fac         -             -      Withdrawn
Kogta Financial (India) Ltd          Proposed NCD      CARE A-; Stable 250  Assigned
Kogta Financial (India) Ltd          Proposed NCD      CARE A-; Stable 750  Assigned
Loantap Credit Products Pvt Ltd      Northern Arc 2020 CARE BBB+ (SO) 144.7  -
                                     CL Savior -Series
                                     A PTC
(Final rating assigned)
M & S Company                        LT Bk Fac         CARE BB+;     71.5   -
                                                       Stable
(Revised from CARE BBB-; Negative)
M & S Company                        LT / ST Bk Fac    CARE BB+;     450    -
                                                       Stable /CARE
                                                       A4+
(Revised from CARE BBB-; Negative / CARE A3)
Medeor Hospital Ltd                  LT Bk Fac         CARE D        4242.1 -
(Revised from CARE BB; Stable)
Navkar Global Infra                  LT Bk Fac         CARE BB;      97.5   Assigned
                                                       Stable
Neo Casta International              LT Bk Fac         CARE BB; Stable 44.3 Assigned
Neo Casta International              LT Bk Fac/ ST Bk  CARE BB;      70.8   Assigned
                                     Fac               Stable/CARE A4
Rice Lake Weighing Systems India Ltd LT / ST Bk Fac    CARE BBB;     200    Reaffirmed
                                                       Stable /CARE
                                                       A3+
S M Interior Pvt Ltd                 LT Bk Fac         CARE BB;      88.9   Assigned
                                                       Stable
S M Interior Pvt Ltd                 LT Bk Fac         CARE BB;      100    -
                                                       Stable
(Rating removed from ISSUER NOT COOPERATING category and Revised from CARE B-. (Enhanced from
7.00 Crore))
Sahanu Sponge And Power Pvt Ltd      LT Bk Fac         -             -      Withdrawn
Shri Sourab Sagar Trading Company Pvt LT Bk Fac        CARE BB; Stable 149  Assigned
Ltd
Skyworld Exim                        LT Bk Fac         CARE D;       255    -
(Issuer not cooperating; Based on best available information)
Spr Buildtech Ltd                    LT Bk Fac         CARE B-; Stable 55   -
(Rating continues to remain under Issuer not cooperating category and Revised from CARE B)
Srinivasa Steel Products             LT Bk Fac         CARE D        92.5   -
(Rating continues to remain under ISSUER NOT COOPERATING category)
Sugarcane Producers Vividh Karykari  LT Bk Fac         CARE B+;      90     Reaffirmed
Sahakari Society Ltd                                   Stable
V. Satya Murthy                      LT / ST Bk Fac    CARE C /CARE  110    -
                                                       A4;
(Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE B / CARE
A4)
V. Satya Murthy                      LT Bk Fac         CARE C;       30     -
(Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE B)
Vaishnavi Bio-Tech Ltd               LT Bk Fac         -             -      Withdrawn
Velani Oils Pvt Ltd                  LT Bk Fac         CARE D        50     -
(Issuer not cooperating; Based on best available information)
Worldwide Tradelinks                 LT Bk Fac         CARE B+; Stable 330  Assigned
--------------------------------------------------------------------------------------------
$: 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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