November 22, 2018 / 7:20 AM / 23 days ago

CARE ratings for Indian debt instruments-Nov 22

   Nov 22 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 21, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aakash Textiles Exports Pvt Ltd       ST Bk Fac          CARE A4        250     Reaffirmed
Anupam Udyog                          ST Bk Fac          -              -       Withdrawn
Annapurna Traders                     ST Bk Fac          CARE A4        60      Assigned
Asaco Pvt Ltd                         ST Bk Fac          CARE A3        200     Reaffirmed
Brahmaputra Metallics Ltd             ST Bk Fac          CARE D         60      Assigned
Granite Products Corporation          ST Bk Fac          CARE A4        76.2    Assigned

Havells India Ltd                     Corporate          CARE CGR 2+    -       Reaffirmed
                                      Governance Rating
Ia Hydro Energy Pvt Ltd               ST Bk Fac          CARE A4        50      Reaffirmed
Key Tech Engineering Company          ST Bk Fac          CARE A4        30      Assigned
Key Tech Engineering Company          Proposed ST Bk Fac CARE A4        45      Assigned
M.K. Agrotech Pvt Ltd                 ST Bk Fac          CARE A1        2055    Reaffirmed
Mojj Engineering Systems Ltd          ST Bk Fac          CARE A4        180     Reaffirmed
Mukesh And Associates                 ST Bk Fac          CARE A4        80      Assigned
Navitas Llp                           ST Bk Fac          CARE A1+ (SO)  50      Reaffirmed
Originative Trading Pvt Ltd           ST Bk Fac          CARE A4        170     Reaffirmed
Shreyans Industries Ltd               ST Bk Fac          CARE A2+       400     Revised from
                                                                                CARE A2
Slr Metaliks Ltd                      ST Bk Fac^         CARE A3+(SO)   1300    Reaffirmed
^backed by a letter of comfort extended by SFI


LONG TERM RATINGS:
-------------------
Adani Enterprises Ltd                 LT Instrument NCD  -              -       Withdrawn
Agroh Toll Highways Pvt Ltd           LT Bk Fac          CARE A-        644.5   Reaffirmed
Agroh Toll Highways Pvt Ltd           LT/ST Bk Fac       CARE A- /CARE  65.3    Reaffirmed
                                                         A2+
Annapurna Traders                     LT Bk Fac          CARE B+        32.6    Assigned
Anupam Udyog                          LT Bk Fac          -              -       Withdrawn
Aqua Resorts And Spa Pvt Ltd          LT Bk Fac          CARE B+        90      Assigned
Asaco Pvt Ltd                         LT Bk Fac          CARE BBB-      75.6    Revised from
                                                                                CARE BBB-
Bansal Pathways (Guna-Sironj) Pvt Ltd LT Bk Fac          CARE BBB+      1771.1  Reaffirmed
Biff And Bright Welfare Society       LT Bk Fac          CARE BBB-      131.2   Reaffirmed
Brahmaputra Metallics Ltd             LT Bk Fac          CARE D         100     Assigned
Dolby Plyboards Pvt Ltd               LT/ ST Bk Fac      CARE B+ /CARE  105     Long Term
                                                         A4                     rating
                                                                                revised 
                                                                                from CARE BB-
Ecron Acunova Ltd                     LT Bk Fac          CARE AA- (SO)  350     Reaffirmed
Ecron Acunova Ltd                     LT/ST Bk Fac       CARE AA-       150     Reaffirmed
                                                         (SO)/CARE A1+
                                                         (SO)
Giridhar Techfab Pvt Ltd              LT Bk Fac          -              -       Withdrawn
Giridhar Techfab Pvt Ltd              LT/ST Bk Fac       -              -       Withdrawn
Granite Products Corporation          LT Bk Fac          CARE B         3.8     Assigned
Ia Hydro Energy Pvt Ltd               LT Bk Fac          CARE BB-       3356.1  Revised from
                                                                                CARE BBB (SO)
                                                                                @
@ Backed by corporate guarantee extended by Shri Bajrang Power and Ispat Limited
Kamaljeet Singh Ahluwalia             LT Bk Fac          CARE A-        1490    Reaffirmed
Kaypee Enterprises                    LT Bk Fac          CARE A-        1190    Reaffirmed
Latha Rice Industries                 LT Bk Fac          CARE D         93.9    Revised from
                                                                                CARE B
Issuer Not Cooperating
M.K. Agrotech Pvt Ltd                 LT Bk Fac          CARE A         138.3   Reaffirmed
Mojj Engineering Systems Ltd          LT Bk Fac          CARE BB        75.9    Reaffirmed
Mukesh And Associates                 LT Bk Fac          CARE BB        43.5    Assigned
Navitas Llp                           LT Bk Fac          CARE AA- (SO)  100     Reaffirmed
Originative Trading Pvt Ltd           LT Bk Fac          CARE BB-       30      Reaffirmed
Patel Highway Management Pvt Ltd      LT Bk Fac          -              -       Withdrawn
Shree Laxmi Jewellery Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Shreyans Industries Ltd               LT Bk Fac          CARE A-        359.7   Revised from
                                                                                CARE BBB+
Slr Metaliks Ltd                      LT Bk FacTL@       CARE BBB+(SO)  5190    Reaffirmed
'@The term loan of SLR Metaliks Limited (SLR) is backed by the unconditional 
and irrevocable corporate guarantee for repayment of the principal, interest
and other charges payable for the debt, extended by its major shareholder Sociedade
De Fomento Industrial Private Limited (SFI), which holds 50% stake in SML
SLR Metaliks Ltd                      LT Bk Fac(fund     CARE BBB+(SO)  1300    Reaffirmed
                                      based)^
^backed by a letter of comfort extended by SFI
Sociedade De Fomento Industrial Pvt Ltd LT Bk Fac        CARE BBB+      5655    Reaffirmed
Take Solutions Ltd                    Issuer Rating      CARE AA- (Is)  -       Reaffirmed
UCO Bank                              Lower Tier II      CARE A+        2750    Reaffirmed
                                      Bonds (Series IX)
--------------------------------------------------------------------------------------------
$: 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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