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CARE ratings for Indian debt instruments-Nov 19

    Nov 19  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of November 18, 2020.


COMPANY                              INSTRUMENT        RATING       AMOUNT   MOVEMENT
                                                                    (RS.MLN)
-------                              ----------        ------       -------  ---------
SHORT TERM RATINGS:
-------------------
Annapurna Agro Foods                 ST Bk Fac         CARE A4       60     -
(Rating moved to ISSUER NOT COOPERATING category)
Asahi Songwon Colors Ltd             ST Bk Fac         CARE A1+      420    Reaffirmed
C&S Himoinsa Pvt Ltd                 ST Bk Fac         CARE A3       50     -
(Continues to be on credit watch with developing implications)
Future Supply Chain Solutions Ltd    ST Bk Fac         CARE A4       220    Revised from
                                                                            CARE A4+
(Revision in credit watch from Developing Implications to Negative Implications)
G R Infraprojects Ltd                CP (carved out of CARE A1+      1000   Assigned
                                     working capital
                                     limits)
Hi-Technocrats Pvt Ltd               ST Bk Fac         CARE A4       130    Reaffirmed
Indexport Leather Export Pvt Ltd     ST Bk Fac         CARE A4       50     -
(Rating moved to ISSUER NOT COOPERATING category)
J.J. Glastronics Pvt Ltd             ST Bk Fac         CARE A4+      370    Reaffirmed
Kovai Kalaimagal Educational Trust   ST Bk Fac         CARE D        1.4    -
(Rating continues to remain under ISSUER NOT COOPERATING category)
London Star Diamond Company (India)  ST Bk Fac         CARE D        128.5  -
Pvt Ltd
(Rating continues to remain under ISSUER NOT COOPERATING category)
Maruthi Garments                     ST Bk Fac         CARE A4       100    -
(Rating continues to remain under ISSUER NOT COOPERATING category)
Pulkit Holdings Pvt Ltd              ST Bk Fac         CARE A4+      100    Reaffirmed
Sachdev Food Products                ST Bk Fac         CARE A4       100    Reaffirmed
Sachdev Food Products Pvt Ltd        ST Bk Fac         CARE A4       100    Reaffirmed
Shiv Hari Plywood Pvt Ltd            ST Bk Fac         CARE A4       17     -
(Rating continues to remain under ISSUER NOT COOPERATING category)
Subhang Capsas Pvt Ltd               ST Bk Fac         CARE A4       17.5   Assigned
Terna Public Charitable Trust        ST Bk Fac         -             -      Reaffirmed
                                                                            and Withdrawn
(Rating continues to remain under ISSUER NOT COOPERATING category)
Viral Corporation India Pvt Ltd      ST Bk Fac         CARE A4       60     -
(Rating continues to remain under ISSUER NOT COOPERATING category)



 
LONG TERM RATINGS:
-------------------
Annapurna Agro Foods                 LT Bk Fac         CARE B-;Stable43.6   Revised from
                                                                            CARE B; Stable
(Rating moved to ISSUER NOT COOPERATING category)
Arbind Cold Storage Pvt Ltd          LT Bk Fac         CARE B-;Stable51.9   Revised from
                                                                            CARE B; Stable
(Rating moved to ISSUER NOT COOPERATING category)
Armada 98/2 Pte Ltd.                 Fund based - LT BkCARE BBB-;    66448.5Reaffirmed
                                     Fac               Stable
Asahi Songwon Colors Ltd             LT Bk Fac         CARE AA-;     162.5  Reaffirmed
                                                       Stable
Asahi Songwon Colors Ltd             LT / ST Bk Fac    CARE AA-;     660    Reaffirmed
                                                       Stable /CARE
                                                       A1+
C&S Himoinsa Pvt Ltd                 LT Bk Fac         CARE BBB-     50     -
(Continues to be on credit watch with developing implications)
Cabs India Tours And Travels Pvt Ltd LT Bk Fac         CARE B+;Stable47.6   -
(Rating moved to ISSUER NOT COOPERATING category)
Ceejay Finance Ltd                   LT Bk Fac         CARE BBB-;    150    Reaffirmed
                                                       Stable
Essel Bagalkot Solar Energy Pvt Ltd  LT Bk Fac         -             -      Withdrawn
Essel Gulbarga Solar Power Pvt Ltd   LT Bk Fac         -             -      Withdrawn
Future Supply Chain Solutions Ltd    LT Bk Fac         CARE BB-      1470   Revised from
                                                                            CARE BB+
(Revision in credit watch from Developing Implications to Negative Implications)
Future Supply Chain Solutions Ltd    NCD               CARE BB-      1990   Revised from
                                                                            CARE BB+
(Revision in credit watch from Developing Implications to Negative Implications)
G R Infraprojects Ltd                LT Bk Fac         CARE AA;Stable2500   Revised from
                                                                            CARE AA-;
                                                                            Positive
G R Infraprojects Ltd                LT / ST Bk Fac    CARE AA;      34000  Revised from
                                                       Stable /CARE         CARE AA-;
                                                       A1+                  Positive / CARE A1+
Gokul Dairy Products                 LT Bk Fac         CARE BB-;     140    Assigned
                                                       Stable
Hampson Industries Pvt Ltd           LT Bk Fac         CARE D        210    Reaffirmed
Hi-Technocrats Pvt Ltd               LT Bk Fac         CARE BB-;     35     Reaffirmed
                                                       Stable
Hi-Technocrats Pvt Ltd               LT / ST Bk Fac    CARE BB-;     15     Reaffirmed
                                                       Stable /CARE A4
Indexport Leather Export Pvt Ltd     LT Bk Fac         CARE B-;Stable89     -
(Rating moved to ISSUER NOT COOPERATING category)
J.J. Glastronics Pvt Ltd             LT Bk Fac         CARE BB+;     127.3  Reaffirmed
                                                       Stable
Jakson Power Pvt Ltd                 LT Bk Fac         -             -      Reaffirmed
                                                                            and Withdrawn
Kirtiman Cements & Packaging         LT Bk Fac         CARE B-       270    Revised from
Industries Ltd                                                              CARE B
(Rating continues to remain under ISSUER NOT COOPERATING category)
Kovai Kalaimagal Educational Trust   LT Bk Fac         CARE D        56.6   -
(Rating continues to remain under ISSUER NOT COOPERATING category)
London Star Diamond Company (India)  LT / ST Bk Fac    CARE D /CARE D108    -
Pvt Ltd
(Rating continues to remain under ISSUER NOT COOPERATING category)
Magic Wires Pvt Ltd                  LT Bk Fac         CARE B        150    Revised from
                                                                            CARE B+
(Rating continues to remain under ISSUER NOT COOPERATING category)
Maruthi Garments                     LT Bk Fac         CARE B        3.3    Revised from
                                                                            CARE B+
(Rating continues to remain under ISSUER NOT COOPERATING category)
Nnt Developers Pvt Ltd               LT Bk Fac         CARE BB;Stable50     Assigned
Nnt Developers Pvt Ltd               LT Bk Fac         CARE BB;Stable100    Revised from
                                                                            CARE B+;
                                                                            Stable
(Rating removed from ISSUER NOT COOPERATING category)
Nnt Developers Pvt Ltd               LT / ST Bk Fac    CARE BB;      350    Revised from
                                                       Stable /CARE A4      CARE B+;
                                                                            Stable/ CARE A4
(Rating removed from ISSUER NOT COOPERATING category)
Pawan Autowheels Pvt Ltd             LT Bk Fac         CARE B-       111.5  Revised from
                                                                            CARE B
(Rating continues to remain under ISSUER NOT COOPERATING category)
Ramkrupa Ginning And Pressing Pvt LtdLT Bk Fac         CARE B+;Stable200    -
(Rating moved to ISSUER NOT COOPERATING category)
Sachdev Food Products                LT Bk Fac         CARE BB-;     40     Reaffirmed
                                                       Stable
Sachdev Food Products                LT / ST Bk Fac    CARE BB-;     40     Reaffirmed
                                                       Stable /CARE A4
Sachdev Food Products Pvt Ltd        LT Bk Fac         CARE BB-;     40     Reaffirmed
                                                       Stable
Sachdev Food Products Pvt Ltd        LT / ST Bk Fac    CARE BB-;     40     Reaffirmed
                                                       Stable /CARE A4
Shiv Hari Plywood Pvt Ltd            LT Bk Fac         CARE B-       58     Revised from
                                                                            CARE B
(Rating continues to remain under ISSUER NOT COOPERATING category)
Shree Rama Newsprint Ltd             LT Bk Fac         CARE BB+      1548.4 -
(Placed under Credit Watch with Developing Implications)
Shree Rama Newsprint Ltd             LT/ ST Bk Fac     CARE BB+ /CARE60     -
                                                       A4+
(Placed under Credit Watch with Developing Implications)
Shree Rama Newsprint Ltd             LT Bk Fac @       CARE BBB- (CE)25.6   Revised from
                                                                            CARE BBB
                                                                            (CE); Negative
(Placed under Credit Watch with Developing Implications)/@ Bank facilities are backed by the
unconditional and irrevocable corporate guarantee of Riddhi Siddhi Gluco Biols Limited
Shri Krishnashray (India) Pvt Ltd    LT Bk Fac         CARE C; Stable100.9  -
(Rating continues to remain under ISSUER NOT COOPERATING category)
Sree Lakshmi Gayatri Hospitals Pvt   LT Bk Fac         CARE B        1600   Revised from
Ltd                                                                         CARE D
(Placed on Credit watch with Developing Implications)
Subhang Capsas Pvt Ltd               LT Bk Fac         CARE B+;Stable166.5  Revised from
                                                                            CARE B; Stable
(Rating removed from ISSUER NOT COOPERATING category)
Sujitha Poultry Farm                 LT Bk Fac         CARE B-;Stable50     Revised from
                                                                            CARE B; Stable
(Rating continues to remain under ISSUER NOT COOPERATING category)
Tara Jewels Ltd                      LT / ST Bk Fac    -             -      Withdrawn
Terna Public Charitable Trust        LT Bk Fac         -             -      Reaffirmed
                                                                            and Withdrawn
(Rating continues to remain under ISSUER NOT COOPERATING category)
Viral Corporation India Pvt Ltd      LT Bk Fac         CARE B-;Stable65     Revised from
                                                                            CARE B; Stable
(Rating continues to remain under ISSUER NOT COOPERATING category)



--------------------------------------------------------------------------------------------
$: 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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