November 23, 2018 / 7:01 AM / 7 months ago

CARE ratings for Indian debt instruments-Nov 23

    Nov 23 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 22, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Amritesh Industries Pvt Ltd           ST Fac             CARE A4        50      Reaffirmed
Balaji Enamel Industry                ST Bk Fac          CARE A4        60      Assigned
Balkrishna Textile Pvt Ltd            ST BkFac           CARE A3        200     
Reaffirmed and removed from Issuer Non Cooperation
Ceyenar Chemicals Pvt Ltd             ST Bk Fac          CARE A4+       227.5   Assigned
Deepak Fertilisers And Petrochemicals CP (CP) issue      CARE A1+       6000    Reaffirmed
Corporation Ltd
Durga Krishna Store Pvt Ltd           ST Bk Fac          CARE A4        130     -
(Issuer Not Cooperating)
Fusion Industries Ltd                 ST Bk Fac          -              -       Withdrawn
Jesons Industries Ltd                 ST Bk Fac- Non-FB  CARE A2        1705    Revised from
                                                                                CARE A3+
Jindal Agro Mills Pvt Ltd             ST Bk Fac          CARE D         370     -
(Issuer Not Cooperating)
K G Denim Ltd                         ST Bk Fac          CARE A3        1222.2  Reaffirmed
Madanjeet Singh Walia And Brothers    ST Bk Fac          CARE A4        70      -
(Issuer Not Cooperating)
Shree Bajrang Sales Pvt Ltd           ST Bk Fac          CARE A4        130     -
(Issuer Not Cooperating)
Shri Vardhman Industries              ST BkFac           CARE A4        40      Reaffirmed
Taneja Aerospace And Aviation Ltd     ST Bk Fac          CARE D         121.9   Reaffirmed
Tathya Texfab Pvt Ltd                 ST Bk Fac          CARE A4        1.5     Reaffirmed
Teeknits                              ST Bk Fac          CARE A4        74      Reaffirmed
Transoceanic Agro Comm Pvt Ltd        ST Bk Fac          CARE A3        2721    Reaffirmed
(enhanced from Rs. 250.10 crore)
Usha Impex                            ST Bk Fac          CARE D         240     -
(Issuer Not Cooperating)
Visaka Industries Ltd                 ST Bk Fac          CARE A1+       1300    Reaffirmed
(enhanced from 115.00 crs)
Visaka Industries Ltd                 ST Bk Fac          CARE A1+       1000    Reaffirmed;
                                                                                reclassified
                                                                                from LT/ST
Yerik International                   ST Bk Fac          CARE A3        5       Assigned
 
MEDIUM TERM RATINGS:
-------------------
Visaka Industries Ltd                 Fixed Deposit      CARE AA- (FD)  250     Reaffirmed
                                      programme

LONG TERM RATINGS:
-------------------
A.R.T. Fabrication Industries Pvt Ltd LT Bk Fac          CARE BB-       60      Assigned
Agromach Spares Corporation           LT/Shortterm Bk FacCARE A-/A2     100     Revised from
                                                                                CARE BBB+
Amritesh Industries Pvt Ltd           LT Bk Fac          CARE BB        100     Revised from
                                                                                CARE B+
Anil Plastic And Enterprises          LT BkFac           CARE BB        80.7    Assigned
Balaji Enamel Industry                LT Bk Fac          CARE B+        20      Assigned
Balkrishna Textile Pvt Ltd            LT BkFac           CARE BBB       410.4   Revised from
                                                                                CARE BBB-
(Issuer Not Cooperating)
Bisi Engineering                      LT Bk Fac          CARE B+        70      Revised from
                                                                                CARE BB-
(Issuer Not Cooperating)
Ceyenar Chemicals Pvt Ltd             LT Bk Fac          CARE BB+       161.4   Assigned
Dhruv Cotex Pvt Ltd                   LT Bk Fac          CARE B+        130     Reaffirmed
Durga Krishna Store Pvt Ltd           LT Bk Fac          CARE BB-       20      -
(Issuer Not Cooperating)
Fusion Industries Ltd                 Long –term Bk Fac  -              -       Withdrawn
Gemini Fashion                        LT Bk Fac          -              -       Withdrawn
Growever Infra Corp.                  LT Bk Fac          -              -       Withdrawn
Growever Infra Corp.                  LT/ST Bk Fac       -              -       Withdrawn
Il&Fs Securities Services Ltd         CPs (CP)           -              -       Withdrawn
Issl Settlement & Transaction ServicesCP (CP)            -              -       Withdrawn
Ltd
Jesons Industries Ltd                 LT Bk Fac - TL     CARE A-        72.2    Revised from
                                                                                CARE BBB+
Jesons Industries Ltd                 LT Bk Fac- FB      CARE A-        700     Revised from
                                                                                CARE BBB+
Jindal Agro Mills Pvt Ltd             LT Bk Fac          CARE D         85      -
(Issuer Not Cooperating)
Jiya Eco Products Ltd                 LT Bk Fac          -              -       Withdrawn
K G Denim Ltd                         LT Bk Fac          CARE BBB-      1377.5  Reaffirmed
Kinglike Retail Ventures Pvt Ltd      LT Bk Fac          CARE B         160     -
(Issuer Not Cooperating)
Kirloskar Institute Of Advanced       LT Bk Fac(Fund     CARE BBB       21.8    Reaffirmed
Management Studies                    based)
Madanjeet Singh Walia And Brothers    LTBk Fac           CARE BB-       25      -
(Issuer Not Cooperating)
Naga Sindhu Spinning And Ginning MillsLT Bk Fac          CARE D         150     Revised from
Pvt Ltd                                                                         CARE BB-
Ncml Basti Pvt Ltd                    LT Bk Fac-TL       CARE A+ (SO)#  453.8   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Basti Private Limited.
Ncml Batala Pvt Ltd                   LT Bk Fac-TL       CARE A+ (SO)#  450.2   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Batala Private Limited
Ncml Bettiah Pvt Ltd                  LT Bk Fac-TL       CARE A+ (SO)#  465.6   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Bettiah Private Limited
Ncml Bhattu Pvt Ltd                   LT Bk Fac-TL       CARE A+ (SO)#  433.6   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Bhattu Private Limited
Ncml Chhehreatta Pvt Ltd              LT Bk Fac-TL       CARE A+ (SO)#  459.3   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Chhehreatta Private Limited
Ncml Deoria Pvt Ltd                   LT Bk Fac-TL       CARE A+ (SO)#  453.8   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Deoria Private Limited
Ncml Faizabad Pvt Ltd                 Bk Fac-TL-LT       CARE A+ (SO)#  462.5   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Faizabad Private Limited
Ncml Jalalabad Pvt Ltd                LT Bk Fac-TermLoan CARE A+ (SO)#  438.5   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Jalalabad Private Limited
Ncml Palwal Pvt Ltd                   LT Bk Fac-TL       CARE A+ (SO)#  472.7   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Palwal Private Limited
Ncml Sonepat Pvt Ltd                  LT Bk Fac-TL       CARE A+ (SO)#  498.7   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Sonepat Private Limited
Ncml Varanasi Pvt Ltd                 LT Bk Fac-TermLoan CARE A+ (SO)#  498.7   Reaffirmed
#-The provisional rating is based on proposed credit enhancement in the form of unconditional
and irrevocable corporate guarantee from NCML to the lenders of NCML Varanasi Private Limited
Nidhi Textiles                        LT Bk Fac          -              -       Withdrawn
Nike Energy Manufacturing Pvt Ltd     LT Bk Fac          -              -       Withdrawn
P. M. Agro Products Pvt Ltd           LT Bk Fac          CARE D         50      Revised from
                                                                                CARE B
Rana Education Society                LT Bk Fac          CARE B         129     Assigned
Roopchand Hotels Pvt Ltd              LT Bk Fac          CARE B+        55.8    -
(Issuer Not Cooperating)
Sd Milk Pro Pvt Ltd                   LT Bk Fac          CARE BB-       72.5    Assigned
Shree Bajrang Sales Pvt Ltd           LT Bk Fac          CARE B         50      -
(Issuer Not Cooperating)
Shri Vardhman Industries              LT BkFac           CARE B+        28.4    Reaffirmed
(enhanced from Rs.1.62 crore)
Smartchem Technologies Ltd            CP Issue           -              -       Withdrawn
Sri Thirunavukkarasu Dhanalakshmi     LT Bk Fac          CARE BB        62.1    Assigned
Educational And Charitable Trust
Sundaram Multi Pap Ltd                LT Bk Fac          CARE BB-       350.3   Revised from
                                                                                CARE B+
Supertex Industries Ltd               LT Bk Fac          CARE BB-       90      Assigned
Supertex Industries Ltd               Proposed LT Bk     CARE BB-       25      Assigned
                                      facility
Supertex Industries Ltd               LT/ST Bk Fac       CARE BB-/A4    85      Assigned
Sylvanus Properties Ltd               LT Instruments –   -              -       Withdrawn
                                      NCD
Taneja Aerospace And Aviation Ltd     LT Bk Fac          CARE D         361     Reaffirmed
Tathya Texfab Pvt Ltd                 LT Bk Fac          CARE B+        106     Reaffirmed
Teeknits                              LT Bk Fac          CARE BB        0.3     Reaffirmed
Transoceanic Agro Comm Pvt Ltd        LT Bk Fac          CARE BBB-      30      Reaffirmed
Usha Impex                            LT Bk Fac          CARE D         60      -
(Issuer Not Cooperating)
Visaka Industries Ltd                 LT/ ST BkFac       -              -       Withdrawn
Visaka Industries Ltd                 LT Bk Fac          CARE AA-       2496.4  Reaffirmed
(reduced from 257.36crs)
Vitra India Glass Pvt Ltd             LT Bk Fac          CARE B+        33.2    Reaffirmed
Yerik International                   LT/ST BkFac        CARE BBB-/A3   245     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@thomsonreuters.com)
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