November 21, 2018 / 4:48 AM / a month ago

CARE ratings for Indian debt instruments-Nov 21

    Nov 21 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 20, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Amanta Healthcare Ltd                 ST Bk Fac          CARE A3        135.5   -
Ratings Placed on credit watch with negative implications
Bhavya Beverages                      ST Bk Fac          -              -       Withdrawn
Bahadur Chand Investments Pvt Ltd     CP (CP) issue      CARE A1+       30000   Reaffirmed
(enhanced from 2500 Crore)

Datta Agro Services Pvt Ltd           ST Bk Fac          CARE D         250     -
(Issuer not cooperating)
Grenic Tiles Pvt Ltd                  ST Bk Fac          CARE A4        20      Reaffirmed
Hsil Ltd                              ST Bk Fac          CARE A1+       3000    -
(enhanced from 285.00 Crore),Removed from credit watch
Hsil Ltd                              CP (CP) issue*     CARE A1+       3000    -
Removed from credit watch,*carved out of the sanctioned working capital limits of the company.
Jsw Severfield Structures Ltd         ST Bk Fac-LC       CARE A3+       1000    Revised from
                                                                                CARE A3
Kwality Animal Feeds Pvt Ltd          ST Bk Fac          -              -       Withdrawn
Lezora Vitrified Pvt Ltd              ST Bk Fac          -              -       Withdrawn
Mcpi Pvt Ltd                          ST BkFac           CARE A1        18750   Revised from
                                                                                CARE A2+
(Enhanced from 995 Crore)
Neha International Ltd                ST Bk Fac          CARE D         235     Revised from
                                                                                CARE A3
Sunfame Ceramic Pvt Ltd               ST Bk Fac          -              -       Withdrawn

MEDIUM TERM RATINGS:
-------------------
Amanta Healthcare Ltd                 Medium Term        CARE BBB (FD)  100     -
                                      Instrument – FD
Ratings Placed on credit watch with negative implications


LONG TERM RATINGS:
-------------------
Aan Engineering Industries Ltd        LT Fund BasedBk    CARE A (SO)    20      Assigned
                                      Fac- (CC)
Aan Engineering Industries Ltd        LT/ STNon- Fund    CARE A (SO)/A1 430     Assigned
                                      Based BkFac (BG)   (SO)
Amanta Healthcare Ltd                 LT Bk Fac          CARE BBB       565.1   -
Ratings Placed on credit watch with negative implications
Ariston Tiles Ltd                     LT Bk Fac          -              -       Withdrawn
Ariston Tiles Ltd                     LT/ ST Bk Fac      -              -       Withdrawn
Athanas Enterprise Pvt. Ltd.          NCD (NCD) issues   -              -       Withdrawn
(Amalgamated With Altheon Enterprises
Ltd.)
Bhavya Beverages                      LT Bk Fac          -              -       Withdrawn
Datta Agro Services Pvt Ltd           LT Bk Fac          CARE D         300.9   -
(Issuer not cooperating)
Dwarka Textile Park                   LT Bk Fac          CARE B         146     -
(Issuer not cooperating)
Electrosteel Castings Ltd             NCD (Series IV)    -              -       Withdrawn^
(^) The company has repaid the NCD (series IV) and there is no amount outstanding under the said
issue.
Electrosteel Castings Ltd             LT BkFac           CARE BBB+      14875.1 Reaffirmed
(reduced from 1553.69 Crore)
Electrosteel Castings Ltd             Long/STBk Fac      CARE BBB+/A2   8775    Reaffirmed
(reduced from 909.00 Crore)
Grenic Tiles Pvt Ltd                  LT Bk Fac          CARE BB-       43.5    Reaffirmed
(Reduced from 7.41 Crore)
Hsil Ltd                              LT Bk Fac          CARE A+        12944   -
(enhanced from 1214.40 Crore),Removed from credit watch
Il&Fs Education & Technology Services CP (CP) issue      CARE D         2000    Revised from
Ltd                                                                             CARE A4
Jainam Fab Pvt Ltd                    LT Bk Fac          -              -       Withdrawn
Jsw Severfield Structures Ltd         LT Bk FacCC        CARE BBB+      900     Revised from
                                                                                CARE BBB
(enhanced from 70.00 Crore)
Jsw Severfield Structures Ltd         LT Bk FacBG        CARE BBB+      2630    Revised from
                                                                                CARE BBB
(enhanced from 183.00 Crore)
Jsw Severfield Structures Ltd         LT/ST Bk Fac-fund  CARE BBB+/A3+  1600    Revised from
                                      based/nonfund based                       CARE BBB
(enhanced from 50.00 Crore)
Kamdhenu Enterprise                   LT Bk Fac          -              -       Withdrawn
Kwality Animal Feeds Pvt Ltd          LT Bk Fac          -              -       Withdrawn
Lezora Vitrified Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Madhusudan Developers                 Long- term Bk Fac  CARE BB-       98.5    Assigned
Mahika Infra Llp                      LT BkFac           CARE BB (SO)   1661.8  Reaffirmed
(reduced from 185.00 Crore)
Mahika Infra Llp                      LT BkFac           CARE BB (SO)   400     Reaffirmed
Mcpi Pvt Ltd                          LT BkFac           CARE A         1900    Revised from
                                                                                CARE A-
(Reduced from 200 Crore)
Neha International Ltd                LT Bk Fac          CARE D         56      Revised from
                                                                                CARE BBB-
Northern Solaire Prakash Pvt Ltd      LT Bk Fac          CARE A+        1142.5  Assigned
Phpc Associates                       LT Bk Fac          CARE BB        90      Assigned
Pokaran Solaire Energy Pvt Ltd        LT Bk Fac          CARE A+        295     Assigned
Rico Aluminium And Ferrous Auto       LT Fund BasedBk    CARE A- (SO)   105     Assigned
Components Ltd                        Fac- (TermLoan)
Rico Aluminium And Ferrous Auto       LT Fund BasedBk    CARE A- (SO)   80      Assigned
Components Ltd                        Fac- (CC)
Rico Aluminium And Ferrous Auto       LT/ STNon- Fund    CARE A-        65      Assigned
Components Ltd                        Based BkFac (LC)   (SO)/A2+ (SO)
Sahaj Solar Pvt Ltd                   LT Bk Fac          CARE BB-       66.9    Reaffirmed
(enhanced from 2.41 Crore)
Sahaj Solar Pvt Ltd                   LT/ ST BkFac*      CARE BB-/A4    108     Reaffirmed
* facility have been reclassified from short-term to long-term/short-term facility
Sarvottam Vegetable Oil Refinery Pvt  LT Bk Fac          CARE D         102.4   -
Ltd
(Issuer not cooperating)
Sheetal Infrastructure Pvt. Ltd.      LT BkFac           CARE BB        671.9   Re-affirmed
Shivohum Textiles                     LT Bk Fac          CARE B         84      -
(Issuer not cooperating)
Shri Shikharjee Rice Oil Llp          LT Bk Fac          CARE B+        117.5   Assigned
Solaire Power Pvt Ltd                 LT Bk Fac          CARE A-        1285    Assigned
Solairedirect Projects India Pvt Ltd  LT Bk Fac          CARE A-        1235    Assigned
Star Wire (India) Vidyut Pvt Ltd      LT BkFac           CARE BB-       396.8   Revised from
                                                                                CARE B
Sunfame Ceramic Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Supersonic Distribution & Services PvtLT/Shortterm BkFac CARE B+/A4     274.8   Revised from
Ltd                                                                             CARE B
Suryauday Solaire Prakash Pvt Ltd     LT Bk Fac          CARE A+        620     Assigned
The Nilgiri Dairy Farm Pvt Ltd        LT Bk Fac@         CARE A (SO)    420     Reaffirmed
@ The facilities are backed by unconditional and irrevocable guarantee from Future Consumer
Limited (erstwhile Future Consumer Enterprises Limited) rated CARE A/Stable/A1.
Ujjwal Granites Pvt Ltd               LT Bk Fac          -              -       Withdrawn
Vizebh Agri Sciences Pvt Ltd          LT Bk Fac          CARE D         118.7   -
(Issuer not cooperating)
--------------------------------------------------------------------------------------------
$: 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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