November 2, 2018 / 5:39 AM / 16 days ago

CARE ratings for Indian debt instruments-Nov 2

    Nov 2 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 1, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ashok Khandelwal                      ST Bk Fac          CARE A4        49.5    Revised from
                                                                                CARE A4
ISSUER NOT COOPERATING
Anindita Steels Ltd                   ST Bk Fac          -              -       Withdrawn
Dev And Associates                    ST Bk Fac          CARE A4        100     Revised from
                                                                                CARE A4+
ISSUER NOT COOPERATING
Etco Digital Pvt Ltd                  ST Bk Fac          CARE A4        70      Reaffirmed
Haldia Nirman Projects Pvt Ltd        ST Bk Fac          CARE A4        150     Reaffirmed
Hle Engineers Pvt Ltd                 ST Bk Fac          CARE A3+       5       Assigned
India Circuits Ltd                    ST Bk Fac          CARE A4        90      Reaffirmed
Kartick Chandra Agro Products Pvt Ltd ST Bk Fac          CARE A4        1.4     Reaffirmed
Karthik Inductions Ltd                ST Bk Fac          CARE D         77.5    Revised from
                                                                                CARE A4
Laxmi Sree Rice Mill Pvt Ltd          STBk Fac           CARE A4        10.5    Revised from
                                                                                CARE A4
ISSUER NOT COOPERATING
Mozart Vitrified Pvt Ltd              ST Bk Fac          CARE A4        30      -
Issuer not cooperating; Based on best available information
Oil And Natural Gas Corporation Ltd   ST Fac             CARE AAA/A1+   77100   Reaffirmed
Oil And Natural Gas Corporation Ltd   CP                 CARE A1+       100000  Reaffirmed
(Rs Ten thousand crore only Crore)
Poornima Handicrafts Pvt Ltd          ST BkFac           CARE A4        35      Reaffirmed
Rajalakshmy Packaging Pvt Ltd         ST Bk Fac          CARE A4        20      Assigned
Sarna Chemicals Pvt Ltd               ST Bk Fac          CARE A3+       145     Reaffirmed
(increased from 11.00 Crore)
Shree Hari Steel Industries           ST Bk Fac          CARE A4        40      Reaffirmed
Shri Shyam Ispat (India) Pvt. Ltd     ST Bk Facility     CARE A1        50      Assigned
Singhal Energy Pvt. Ltd               ST Bk Facility     CARE A1        150     Assigned
Singhal Enterprises Pvt. Ltd          ST Bk Facility     CARE A1        180     Assigned
Usha Impex                            ST Bk Fac          CARE D         240     Revised from
                                                                                CARE A4
Vizag Hospital And Cancer Research    ST Bk Fac          CARE A3        1.2     Reaffirmed
Centre Pvt Ltd
(Reduced from 0.21 Crore)

LONG TERM RATINGS:
-------------------
Anand Rice Mills                      LT Bk Fac          CARE BB+       440     Reaffirmed
(enhanced from 39.00 Crore)
Anindita Steels Ltd                   LT Bk Fac          -              -       Withdrawn
Apl Metals Ltd                        LT Fund Based (CC) CARE BB-       100     Assigned
Ashok Khandelwal                      LT Bk Fac          CARE BB        50.5    Revised from
                                                                                CARE BB
ISSUER NOT COOPERATING
Ashok Khandelwal                      Total Fac                         100     -
B.J. Grain                            LT Bk Fac          CARE D         60      -
Issuer not cooperating; Based on best available information
Bhatia Photo Industries Pvt Ltd       LT Bk Fac          CARE BB        140     Assigned
Bhatia Photo Industries Pvt Ltd       LT/ STBk Fac       CARE BB: /A4   60      Assigned
Bhavna Gems                           LT Bk Fac          CARE B         20      -
ISSUER NOT COOPERATING
Bhavna Gems                           Long/ST BkFac      CARE B /A4     80      -
ISSUER NOT COOPERATING
Dev And Associates                    LT Bk Fac          CARE BB        50      Revised from
                                                                                CARE BB+
ISSUER NOT COOPERATING
Etco Digital Pvt Ltd                  LT Bk Fac          CARE B         40      Revised from
                                                                                CARE B+
Haldia Nirman Projects Pvt Ltd        LT Bk Fac          CARE BB        50      Reaffirmed
Hle Engineers Pvt Ltd                 LT Bk Fac          CARE BBB       337.6   Assigned
Hle Engineers Pvt Ltd                 LT/ST BkFac        CARE BBB/A3+   505     Assigned
India Circuits Ltd                    LT Bk Fac          CARE BB-       100     Reaffirmed
(enhanced from Rs.9.00 crore Crore)
Jindal Agro Mills Pvt Ltd             ST Bk Fac          CARE D         370     Revised from
                                                                                CARE A4
Jindal Agro Mills Pvt Ltd             LT Bk Fac          CARE D         85      Revised from
                                                                                CARE BB-
Kamran Exports Pvt Ltd                Bk Fac-Fund        CARE D         250     -
                                      BasedEPC/PCFC
Issuer not cooperating; Based on the best available information
Karthik Inductions Ltd                LT Bk Fac          CARE D         110     Revised from
                                                                                CARE B-
(reduced from 11.16 Crore)
Kartick Chandra Agro Products Pvt Ltd LT Bk Fac          CARE B         115     Reaffirmed
Laxmi Sree Rice Mill Pvt Ltd          LT BkFac           CARE B-        55.9    Revised from
                                                                                CARE B+
ISSUER NOT COOPERATING
Maris Power Supply Company Pvt Ltd    LT Bk Fac          CARE BBB       167.6   Reaffirmed
Mgr Agro Products Pvt Ltd             LT Bk Fac          CARE BB-       90      Reaffirmed
(reduced from 9.42 Crore)
Mozart Vitrified Pvt Ltd              LT Bk Fac          CARE B+        360     -
Issuer not cooperating; Based on best available information
Mss Infracon Pvt Ltd                  LT Bk Fac          CARE B+        550     Reaffirmed
Nakoda Industries                     LT Bk Fac          CARE BB        54.4    Assigned
Nhj Infra Pvt Ltd                     LT BkFacility      CARE B+        32.5    Revised from
                                                                                CARE B
(Reduced from 3.50 Crore)
Nhj Infra Pvt Ltd                     Long/ST Bk FacilityCARE B+/A4     45      Revised from
                                                                                CARE B
Nimawat Education Society             LT Bk Fac          CARE BB-       119     Assigned
Oil And Natural Gas Corporation Ltd   LT Bk Fac          CARE AAA       5000    Reaffirmed
Oil And Natural Gas Corporation Ltd   LT/ST Non-fund     CARE AAA/A1+   53600   Reaffirmed
                                      based Bk Fac
Oil And Natural Gas Corporation Ltd   LT/ST Fund Based   CARE A1+       114300  Reaffirmed
                                      Bk Fac
Poornima Handicrafts Pvt Ltd          LT BkFac           -              0       Withdrawn**
Poornima Handicrafts Pvt Ltd          LT / shortterm Bk  CARE BB-/A4    15      Reaffirmed
                                      Fac
(reclassification from ST to LT/ST)
Radharaman Cotgin Pvt Ltd             LT Bk Fac          CARE B+        90      Assigned
Rajalakshmy Packaging Pvt Ltd         LT Bk Fac          CARE B         90      Assigned
Sandhya Chemplast Pvt Ltd             LT Bk Fac          -              -       Withdrawn
Sarna Chemicals Pvt Ltd               LT Bk Fac          CARE BBB       110.4   Reaffirmed
(increased from 8.51 Crore)
Shree Hari Steel Industries           LT Bk Fac          CARE BB-       60      Reaffirmed
Shri Shyam Ispat (India) Pvt. Ltd     LT Bk Facility     CARE A         200     Assigned
Simhapuri Expressway Ltd              LT BkFac           CARE BB        20298.9 -
Placed on Credit watch with developing implications
Singhal Energy Pvt. Ltd               LT Bk Facility     CARE A         420     Assigned
Singhal Enterprises Pvt. Ltd          LT Bk Facility     CARE A         350     Assigned
Somnath Enterprises                   LT BkFac           CARE BB-       200     Reaffirmed
(enhanced from 9.35 Crore)
Sukh Sagar Industries                 LT Bk Fac          CARE B+        50.2    Reaffirmed
Non-Cooperation Revocation
Sunalco Alloys Pvt Ltd                LT/ST Bk Fac       CARE BBB-/A3   1350    Assigned
Swaroop Homes Llp                     LT Bk Fac          CARE B         210     -
Issuer Not Cooperating; Based on best available information
Tata Money Market Fund                Open-Ended Debt    CARE AA-mfs    -       Revised from
                                      Scheme                                    CARE AAAmfs
Tirual Bortimon Tea Estates Pvt Ltd   LT Bk Fac          CARE B         248.1   Assigned
Tolaram Surendra Kumar Kundalia       LT BkFac           CARE B+        60      Revised from
                                                                                CARE B+
ISSUER NOT COOPERATING
Usha Impex                            LT Bk Fac          CARE D         60      Revised from
                                                                                CARE B+
Vakrangee Packaging Llp               LT Bk Fac          CARE B+        76.3    Revised from
                                                                                CARE B
(reduced from 8.25 Crore)
Vatika Ltd                            LT Bk Fac          CARE BB        2435    Reaffirmed
(reduced from 370.14 Crore)
Vatika One India Next Pvt Ltd         NCDs               -              -       Withdrawn
Vatika Seven Elements Pvt Ltd         LT Bk Fac          CARE BB (SO)   2250    Reaffirmed
(enhanced from 120.57 Crore)
Vatika Sovereign Park Pvt Ltd         LT Bk Fac          CARE BB (SO)   2250    Reaffirmed
(enhanced from 113.47 Crore)
Vizag Hospital And Cancer Research    LT Bk FacTL#       -              -       Withdrawn
Centre Pvt Ltd
#the rating assigned to long term bank facility (term Loan) has been withdrawn since the company
has fully repaid the said facility and there is not outstanding under the facility 
Vizag Hospital And Cancer Research    LT Bk Fac          CARE BBB       140.3   Reaffirmed
Centre Pvt Ltd
(Reduced from 17.42 Crore)
--------------------------------------------------------------------------------------------
$: 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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