November 28, 2019 / 4:57 AM / 9 days ago

CARE ratings for Indian debt instruments-Nov 28

    Nov 28 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 27, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aarti Suitings Pvt Ltd                ST Bk Fac          CARE D         5.5
“Issuer not cooperating based on best available information”
Escorts Heart Institute And Research  ST Bk Fac          -              -       Withdrawn
Centre Ltd
Fiotex Cotspin Pvt Ltd                ST Bk Fac          CARE A3        179     Reaffirmed
(reduced from Rs 20.90 crore)
Fortis Healthcare Ltd                 ST Fac-Fund Based  -              -
                                      (Overdraft)
Reaffirmed at CARE A3 (Credit watch with Developing Implications) and Withdrawn
Jp Dyechem Pvt Ltd                    ST Bk facility     CARE A4+       100     Assigned
Kamdar & Associates                   ST Bk Fac          CARE A3        816     Reaffirmed

M A Enterprises                       ST Bk Fac          CARE A3+ (CE)  380
Placed on credit watch with developing implications
M K Shipping And Allied Industries PvtST Bk Fac          CARE A3        700     Reaffirmed
Ltd
Mahavir Inductomelt Pvt Ltd           ST Bk Fac          CARE A3        1250    Reaffirmed
Mahavir Rolling Mill Pvt Ltd          ST Bk Fac          CARE A3        60      Reaffirmed
Mandadi Group Of Hotels & Resorts Pvt ST Bk Fac          CARE A4+       20
Ltd
Revised from CARE A4; issuer not co-operating
Panchvati Ship Breakers               ST Bk Fac          CARE A3        796     Reaffirmed
Patwa City Automobiles Pvt Ltd        ST Bk Fac          CARE A4+       1       Reaffirmed
Psn Automobiles Pvt Ltd               ST Bk Fac          CARE A3        82.5    Reaffirmed
Puneet Industries Pvt Ltd             ST Bk Fac          CARE A3        1000    Reaffirmed
Sagar Laxmi Ship Breakers             ST Bk Fac          CARE A3        796     Reaffirmed
Sohan Coppertech Pvt Ltd              ST Bk Fac          CARE A4        20      Reaffirmed
Summit Corporation Pvt Ltd            ST Bk Fac          CARE D         15      -
Issuer Not Cooperating; Based on best available information
Sudhanva Engineers And Builders       ST Bk Fac          CARE A4        60      Reaffirmation
Swajit Abrasives Pvt Ltd              ST Bk Fac          CARE A4        11.5    -
Issuer Not Cooperating; Based on best available information
Taranjot Resources Pvt Ltd            ST Bk Fac          CARE A4+       220
Revised from CARE A4

LONG TERM RATINGS:
-------------------
Aarti Suitings Pvt Ltd                LT Bk Fac          CARE D         167.2
“Issuer not cooperating based on best available information”
Alvas Education Foundation            LT Bk Fac          CARE B/ Stable 1831.3
Revised from CARE BB; Stable
Anupama Steel Ltd                     LT/ ST Bk Fac      CARE BBB-/     375     Reaffirmed
                                                         Stable/CARE A3
Atria Solar Power (Chamarajanagar) PvtLT Bk Fac          CARE BBB/      2974.1  Reaffirmed
Ltd                                                      Stable
(reduced from 350.5 Crore)
Betul Wind Farms Ltd                  LT Bk Fac          CARE A-/       1493.7  Reaffirmed
                                                         Stable
(reduced from 167.05 Crore)
Bhansali Packing Service              LT Bk Fac          CARE B/ Stable 76.9    Reaffirmed
Bharat Financial Inclusion Ltd        LT / ST Bk Fac     -              -       Withdrawn
Bombay Jcb Earthmovers                LT Bk Fac          CARE BBB-/     130     Reaffirmed
                                                         Stable
Bombay Jcb Earthmovers                LT Bk Fac/ ST Bk   CARE BBB-/     20      Reaffirmed
                                      Fac                Stable/CARE A3
Catch Realty Pvt Ltd                  LT Bk Fac          CARE BB-/      60
                                                         Stable
Revised from CARE B+; Stable
Escorts Heart Institute And Research  LT Bk Fac          CARE BBB-      150
Centre Ltd
Continues on credit watch with developing implications; (reduced from Rs.28 crore)
Eswari Electricals Pvt Ltd            LT Bk Fac          CARE BB-/      60      Assigned
                                                         Stable
Eswari Electricals Pvt Ltd            LT/ ST Bk Fac      CARE BB-/      180     Assigned
                                                         Stable /CARE A4
Fiotex Cotspin Pvt Ltd                LT Bk Fac          CARE BBB-/     1102.7  Reaffirmed
                                                         Stable
(reduced from Rs.126.36 crore)
Fortis Healthcare Ltd                 LT Bk Facility     -              -
Reaffirmed at CARE BBB- (Credit watch with Developing Implications) and Withdrawn
G G Polyplast Pvt Ltd                 LT Bk Fac          CARE B/ Stable 58.3
“Issuer not cooperating; Based on best available information”
Global Institute Of Medical Science & LT Bk Fac          -              -
Health Care
Revised to CARE B; Stable, Issuer Not cooperating from CARE B+; Stable : Issuer not cooperating
and withdrawn
Gowthami Spintex (India) Ltd          LT Bk Fac          CARE BB+/      138.4
                                                         Stable
Revised from CARE BB-; Stable ; (Reduced from 14.48 Crore)
Jp Dyechem Pvt Ltd                    LT Bk Facility     CARE BB+/      20      Assigned
                                                         Stable
Jp Dyechem Pvt Ltd                    Long/ ST Bk        CARE BB+/      30      Assigned
                                      Facility           Stable/CARE A4+
Kamdar & Associates                   LT Bk Fac          CARE BBB-/     100     Reaffirmed
                                                         Stable
Laxmi Balaji Cotton Industries        LT Bk Fac          CARE B+/       79.9    Assigned
                                                         Stable
M A Enterprises                       LT Bk Fac          CARE BBB (CE)  10
Placed on credit watch with developing implications
M K Shipping And Allied Industries PvtLT Bk Fac          CARE BBB-/     70      Reaffirmed
Ltd                                                      Stable
Mahavir Inductomelt Pvt Ltd           LT Bk Fac          CARE BBB-/     120     Reaffirmed
                                                         Stable
Mahavir Rolling Mill Pvt Ltd          LT Bk Fac          CARE BBB-/     200     Reaffirmed
                                                         Stable
Mandadi Group Of Hotels & Resorts Pvt LT Bk Fac          CARE BB+/      76.7
Ltd                                                      Stable
Revised from CARE BB Stable; Issuer not co-operating
Meenakshi Cotgin                      LT Bk Fac          CARE B+/       107.6   Reaffirmed
                                                         Stable
(enhanced from Rs.5.87 crore)
Micro International                   LT Bk Fac          CARE B+/       86      Reaffirmed
                                                         Stable
(enhanced from Rs.8.28 crore)
Mps Telecom Retail Pvt Ltd            LT Bk Fac          CARE BB-/      300     -
                                                         Stable
Issuer Not Cooperating; Revised from CARE BB+; Stable on the basis of best available information
Northern Arc 2019 MFI Ostrom          Series A1 PTCs     -              -       Withdrawn
(Originator: Chaitanya India Fin Credit
Pvt Ltd)
Northern Arc 2019 MFI Ostrom          Series A2 PTCs     -              -       Withdrawn
(Originator: Chaitanya India Fin Credit
Pvt Ltd)
Optiemus Electronics Ltd              LT Bk Fac          CARE BB-/      150     -
                                                         Stable
Issuer Not Cooperating; Revised from CARE BB+; Stable on the basis of best available information
Optiemus Infracom Ltd                 LT Bk Fac          CARE BB-/      2315    -
                                                         Stable
Issuer Not Cooperating; Revised from CARE BB+; Stable on the basis of best available information
Panchvati Ship Breakers               LT Bk Fac          CARE BBB-/     120     Reaffirmed
                                                         Stable
Patwa City Automobiles Pvt Ltd        Long –term Bk Fac  CARE BB+/      208     Reaffirmed
                                                         Stable
(reduced from Rs.21.12 crore)
Psn Automobiles Pvt Ltd               LT Bk Fac          CARE BBB-/     25      Reaffirmed
                                                         Stable
Puneet Industries Pvt Ltd             LT Bk Fac          CARE BBB-/     110     Reaffirmed
                                                         Stable
Rupam Industries                      LT Bk Fac          CARE B/ Stable 90.4
“Issuer not cooperating; Revised from CARE B+; Stable on the basis of best available
information”
Sagar Laxmi Ship Breakers             LT Bk Fac          CARE BBB-/     120     Reaffirmed
                                                         Stable
Shri Balaji Sahakari Soot Girni Ltd   LT Bk Fac          CARE D         71.8    -
Issuer Not Cooperating; Based on best available information
Shri Swami Samarth Engineers          LT Bk Fac          CARE BB        60      -
Issuer Not Cooperating; Based on best available information
Shubham Rice Udyog                    LT Bk Fac          CARE B+        58
“Issuer not cooperating; Based on best available information”
Siddhivinayak Timber Trading          LT Bk Fac          CARE D         60      -
Issuer Not Cooperating; Based on best available information
Sigma One Kundan Ventures             LT Bk Fac          CARE B+        97.5    -
Issuer Not Cooperating; Revised from CARE BB- on the basis of best available information
Sigma One Remonesa Ventures           LT Bk Fac          CARE B+        100     -
Issuer Not Cooperating; Revised from CARE BB- on the basis of best available information
Sohan Coppertech Pvt Ltd              LT Bk Fac          CARE BB/       85      Reaffirmed
                                                         Stable
Sudhanva Engineers And Builders       LT Bk Fac          CARE BB-/      50      Reaffirmation
                                                         Stable
Sudhanva Engineers And Builders       LT/ ST Bk Fac      CARE BB-/      20      Reaffirmation
                                                         Stable/CARE A4
Summit Corporation Pvt Ltd            LT Bk Fac          CARE D         111.7   -
Issuer Not Cooperating; Based on best available information
Suyog Anjani Avishkar Associates      LT Bk Fac          CARE B         99.8    -
Issuer not cooperating; Based on best available information
Swajit Abrasives Pvt Ltd              LT Bk Fac          CARE B         42.5    -
Issuer not cooperating; Revised from CARE B+; on the basis of best available information
Taranjot Resources Pvt Ltd            Long –term Bk Fac  CARE BB+/      15
                                                         Stable
Revised from CARE BB; Stable
Teleecare Network India Pvt Ltd       LT Bk Fac          CARE BB-/      900     -
                                                         Stable
Issuer Not Cooperating; Revised from CARE BB+; Stable on the basis of best available information
The Gowthami Solvent Oils Ltd         LT Bk Fac          CARE BBB-/     614.1   Reaffirmed
                                                         Stable
The Gowthami Solvent Oils Ltd         LT/ ST Bk Fac      CARE BBB-/     20      Reaffirmed
                                                         Stable/CARE A3
Ticel Bio Park Ltd                    LT Bk Fac          CARE D         613.2   -
Issuer not cooperating; Based on best available information
Universal Tube Accessories Pvt Ltd    LT Bk Fac          CARE D         134.9   -
Issuer not cooperating; Based on best available information
Vedant Landmarks                      LT Bk Fac          CARE B+        250     -
Issuer not cooperating; Based on best available information
Vijaya Maruthi Tmc                    LT Bk Fac          CARE B+/Stable 60      Assigned
Vivriti Debuchy 002 2018 (Originator: Series A PTCs      -              -       Withdrawn
Ikf Finance Ltd)

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