November 29, 2019 / 6:24 AM / 14 days ago

CARE ratings for Indian debt instruments-Nov 29

    Nov 29 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 28, 2019.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Almehtab Industries Pvt Ltd           ST Bk Fac          CARE A4        25      Revised from
                                                                                CARE A4
Issuer Not Co-operating; based on best available information
Arl Infratech Ltd                     ST Bk Fac          CARE A1        200     Reaffirmed

Bajaj Processpack Ltd                 ST Bk Fac          CARE A4        16      Reaffirmed
Binani Cement Ltd                     ST Bk Fac          -              -       Withdrawn
Bawa Float Glass Ltd                  ST BkFac           CARE A3+       10      Reaffirmed
Credit watch with developing implications
Ghatge Patil Transports Pvt Ltd       ST Bk Fac          CARE D         0.6     -
Issuer not cooperating; Based on best available information
Bharat Petroleum Corporation Ltd      CP                 CARE A1+;      45000   Assigned
                                                         Stable
Cadila Pharmaceuticals Ltd            ST Bk Fac          CARE A1        900     Reaffirmed
(Enhanced from Rs.60.00 crore Crore)
Fashion Flare International Pvt Ltd   Short- Term Bk Fac CARE A4        -       -
Reaffirmed at CARE A4 and Withdrawn
Hvr Projects Pvt Ltd                  Short termBk Fac   CARE A4        10      -
Issuer not cooperating; Based on best available information
Ilasakaa Steels Ltd                   ST BkFac           CARE A4        20      -
Issuer not cooperating; based on best available information
Jindal Green Crop International Pvt   ST Bk Fac          CARE A4        400     -
Ltd
Issuer Not Cooperating; Based on Best Available Information
Ladhar Paper Mills                    ST Bk Fac          CARE A4        5       Reaffirmed
Navkar Processors                     STBk Fac           CARE A4        2.5     -
Issuer not cooperating; Based on best available information
Pagan Paints And Chemicals Pvt Ltd    ST BkFac           CARE A4        23      Revised from
                                                                                CARE A4+
Issuer not cooperating; Based on best available information
Premier Bars Ltd                      ST Bk Fac          CARE A4        65      Assigned
Priya Blue Industries Pvt Ltd         ST Bk Fac          CARE A3+       2500    -
Placed on credit watch with developing implications
Purbanchal Cement Ltd                 ST BkFac           CARE A2        20      Reaffirmed
(Reduced from 3.0 Crore)
S. Prince High Tech Pvt Ltd           STBk Fac           CARE A4        35      -
Issuer not cooperating; Based on best available information
Saksham Signs Pvt Ltd                 ST Bk Fac          CARE A4        15      Reaffirmed
Sava Healthcare Ltd                   ST BkFac           CARE A4        20      -
Issuer not cooperating; Based on best available information
Shiva Mills Ltd                       ST BkFac           CARE A3+       251     -
(Reduced from 45.10 Crore)
Shiva Texyarn Ltd                     ST Bk Fac          CARE A3        500     Revised from
                                                                                CARE A3+
Shree Krishna Impex                   ST Bk Fac          CARE A4        132     Assigned
Volt-Age Infra Pvt Ltd                ST Bk Fac          CARE D         95      -
Issuer not cooperating; Based on best available information
Sona Biscuits Ltd                     ST Bk Fac          CARE A3+       6.5     Assigned
Subizz Travel Solutions Pvt Ltd       ST BkFac           CARE A4        4.8     -
Issuer Not Cooperating;Based on best available information
United Machinery & Appliances         ST Bk Fac          CARE A4        20      -
Issuer Not Cooperating based on best available information

LONG TERM RATINGS:
-------------------
Aasma Foods And Beverages Pvt Ltd     LT Bk Fac          CARE B+; Stable80      -
Issuer Not Co-operating; based on best available information
Almehtab Industries Pvt Ltd           LT Bk Fac          CARE BB; Stable141.4   Revised from
                                                                                CARE BB;
                                                                                Stable
Issuer Not Co-operating; based on best available information
Almehtab Industries Pvt Ltd           LT/ST Bk Fac       CARE BB;       14.6    Revised from
                                                         Stable/CARE A4         CARE BB;
                                                                                Stable/ CARE A4
Issuer Not Co-operating; based on best available information
Anand Rice Mill                       LT Bk Fac          CARE B+; Stable61.4    -
Issuer not cooperating; based on best available information
Arl Infratech Ltd                     LT / ST Bk Fac*    CARE A; Stable 200     Reaffirmed
                                                         /CARE A1
Arora Construction Company Pvt Ltd    Long- Term Bk Fac  -              -       Withdrawn
Reaffirmed at CARE B Plus; Stable; Issuer not cooperating
Arora Construction Company Pvt Ltd    LT/ ST Bk Fac      -              -       Withdrawn
Reaffirmed at CARE B Plus; Stable/ CARE A4; Issuer not cooperating
Azure Hospitality Pvt Ltd             LT Bk Fac (TL)     -              -       Withdrawn
J.G. Rice Mill                        LT/STBk Fac        CARE A4        20      -
Issuer not cooperating; based on best available information
Azure Power Saturn Pvt Ltd            LT Bk Fac          -              -       Withdrawn
Babasaheb Bapusaheb Gunjate           LT BkFac           CARE B         60      -
Issuer not cooperating; Based on best available information
Bajaj Processpack Ltd                 LT Bk Fac          CARE B+; Stable44      Reaffirmed
Bajrangbali Vanijya Pvt Ltd           LT Bk FacLong/ST   CARE BBB;      26240   Assigned
                                      BkFac              Stable
Bawa Float Glass Ltd                  Long / ST BkFac    CARE BBB;      140     Reaffirmed
                                                         Stable/CARE A3+
Credit watch with developing implications
Bharat Petroleum Corporation Ltd      Debentures-NCD     CARE AAA;      5500    Assigned
                                                         Stable
Bharat Petroleum Corporation Ltd      Debentures-NCD     CARE AAA;      7500    Assigned
                                                         Stable
Bharat Petroleum Corporation Ltd      Debentures-NCD     CARE AAA;      10000   Assigned
                                                         Stable
Bharat Petroleum Corporation Ltd      Debentures-NCD     CARE AAA;      5000    Assigned
                                                         Stable
Binani Cement Ltd                     LT Bk Fac          -              -       Withdrawn
Cadila Pharmaceuticals Ltd            LT Bk Fac          CARE A; Stable 5722.9  Reaffirmed
(Enhanced from Rs.519.80 crore Crore)
Cadila Pharmaceuticals Ltd            LT/ST BkFac        CARE A;        4601.3  Reaffirmed
                                                         Stable/CARE A1
(Enhanced from Rs.420.13 crore Crore)
Container Corporation Of India Ltd    LT Bk Fac-Non Fund CARE AAA       4620    -
                                      Based
Placed on credit watch with developing implications
Container Corporation Of India Ltd    Issuer Rating*     CARE AAA (Is)  -       -
Placed on credit watch with developing implications
General Trading Corporation           LT BkFac           CARE BB-;      140     -
                                                         Stable
Issuer Not Co-operating; based on best available information
General Trading Corporation           LT/ Shortterm BkFacCARE BB-;      80      -
                                                         Stable/CARE A4
Issuer Not Co-operating; based on best available information
Ghatge Patil Transports Pvt Ltd       LT Bk Fac          CARE D         75      -
Issuer not cooperating; Based on best available information
Greenpanel Industries Ltd             LT BkFac           CARE BBB+;     1925.3  Assigned
                                                         Stable
Greenpanel Industries Ltd             Long/ST BkFac      CARE BBB+;     700     Assigned
                                                         Stable/CARE A2
Hl Promoters Pvt. Ltd.                LT Bk Fac          -              -       Withdrawn
Hvr Projects Pvt Ltd                  LTBk Fac           CARE B; Stable 124.4   -
Issuer not cooperating; Based on best available information
Ilasakaa Steels Ltd                   LT BkFac           CARE B+        290     Revised from
                                                                                CARE BB-
Issuer not cooperating; Based on best available information
J.G. Rice Mill                        LT Bk Fac          CARE B; Stable 74.9    Revised from
                                                                                CARE B+;Stable
Issuer not cooperating; based on best available information
Jindal Green Crop International Pvt   LT Bk Fac          CARE B; Stable 120     Revised From
Ltd                                                                             CARE BB-
Issuer not cooperating; based on best available information
Kriday Realty Pvt. Ltd.               LT Bk Fac          -              -       Withdrawn
L. Madanlal (Aluminium) Ltd           LT Bk Fac          CARE BB; Stable58      Reaffirmed
L. Madanlal (Aluminium) Ltd           Long –term/ST BkFacCARE BB;       2       Reaffirmed
                                                         Stable/CARE A4
Ladhar Paper Mills                    LT Bk Fac          CARE BB; Stable147.9   Reaffirmed
(enhanced from Rs.13.16 crore Crore)
Lic Mutual Fund Asset Management Ltd  LIC MF Ultra ST    Provisional     -       Assigned
                                      Fund Fund   Open   CARE AAAmfs*
                                      Ended Ultra Short 
                                      Term Debt Scheme
                                      Ultra Short
* The above rating is provisional and will be confirmed once the company submits copies of
relevant executed documents, to the satisfaction of CARE.
Maheshwar Multitrade Pvt Ltd          LT Bk Fac          -              -       Withdrawn
Reaffirmed at CARE BB-; Stable(Double B Minus; Outlook : Stable)
Margdarshee Hospitality And Retails PvLong –term Bk Fac  CARE B; Stable 67.8    Revised from
Ltd                                                                             CARE B+
Issuer not cooperating; Based on best available information
Matilal And Gouri Food & Storage Pvt  LT BkFac           CARE B; Stable 50      Revised from
Ltd                                                                             CARE B+;
                                                                                Stable
Issuer not cooperating; Based on best available information
Mehrab N. Irani & Company             LT BkFac           CARE B+; Stable125     -
Issuer not cooperating; Based on best available information
Navkar Processors                     LT BkFac           CARE B         172.5   -
Issuer not cooperating; Based on best available information
Pagan Paints And Chemicals Pvt Ltd    LT BkFac           CARE B; Stable 35      Revised from
                                                                                CARE BB-;
                                                                                Stable
Issuer not cooperating; Based on best available information
Pl Securitisation Trust Vi June 2019  Series A PTCs      -              -       Withdrawn
Ppn Power Generating Company Pvt Ltd  LT Bk Fac – TL     CARE D         463.5   Reaffirmed
Ppn Power Generating Company Pvt Ltd  LT Bk Fac –CC      CARE D         2390    Revised from
                                                                                CARE C
Ppn Power Generating Company Pvt Ltd  Long/ST BkFac –    CARE D /CARE D 1370    Revised from
                                      LC/BG                                     CARE C/CARE
                                                                                A4 
Prasad Agro Industries                LT Bk Fac          CARE D         172     Revised from
                                                                                CARE BB-;
                                                                                Stable
Issuer not cooperating; Based on best available information
Premier Bars Ltd                      LT Bk Fac          CARE BB        67.6    Assigned
Premier Bars Ltd                      LT/ ST Bk Fac      CARE BB;       617.4   Assigned
                                                         Stable/CARE A4
Priya Blue Industries Pvt Ltd         LT Bk Fac          CARE BBB       270     -
Placed on credit watch with developing implications
Purbanchal Cement Ltd                 LT BkFac           CARE BBB+;     200     Reaffirmed
                                                         Stable
Outlook revised from Positive
Purbanchal Cement Ltd                 Long/STBk Fac      CARE BBB+;     10      Reaffirmed
                                                         Stable/CARE A2
Outlook revised from Positive
R. R. International                   LT BkFac           CARE B; Stable 50      -
Issuer not cooperating; Based on best available information
Rajasthan Bal Kalyan Samiti           LT Bk Fac          CARE D         42.4    Revised from
                                                                                CARE BB;
                                                                                Stable
S. Prince High Tech Pvt Ltd           LTBk Fac           CARE B; Stable 100     Revised from
                                                                                CARE B+;
                                                                                Stable
Issuer not cooperating; Based on best available information
Saksham Signs Pvt Ltd                 LT Bk Fac          CARE BB-;      50      Reaffirmed
                                                         Stable
Sanmarg Projects Pvt Ltd              LT Bk Fac          CARE BB; Stable40      Reaffirmed
Sanmarg Projects Pvt Ltd              LT/ ST Bk Fac      CARE BB;       200     Reaffirmed
                                                         Stable/CARE A4+
Sava Healthcare Ltd                   LT BkFac           CARE B+        210     -
Issuer not cooperating; Based on best available information
Sheth Developers                      LT Bk Fac          CARE B+        100     Revised from
                                                                                CARE BB
Issuer not cooperating; Based on best available information
Shiv Shakti Monolithics Pvt Ltd       LT BkFac           CARE B; Stable 50      Revised from
                                                                                CARE BB
Issuer not cooperating; Based on best available information
Shiva Mills Ltd                       LT Bk Fac          CARE BBB;      414.1   Revised from
                                                         Stable                 CARE
                                                                                BBB;Positive
(Reduced from 42.82 Crore)
Shiva Mills Ltd                       LT Bk FacLong/ST   CARE BBB;      100     CARE BBB;
                                      BkFac              Stable /CARE           Positive
                                                         A3+                    /CARE A3+
Shiva Texyarn Ltd                     LT Bk Fac          CARE BBB-;     1395.5  Revised from
                                                         Stable                 CARE BBB;
                                                                                Stable
(Reduced from 145.90 Crore)
Shiva Texyarn Ltd                     Long/ST BkFac      CARE BBB-;     700     Revised
                                                         Stable/CARE A3         fromCARE BBB;
                                                                                Stable/CARE A3+
Shree Balakrishna Exports             LT BkFac           CARE BB+;      50      Reaffirmed
                                                         Negative
Outlook revised from Stable to Negative
Shree Krishna Impex                   LT Bk Fac          CARE BB-;      33.5    Assigned
                                                         Stable
Shree Krishna Impex                   LT/ST BkFac        CARE BB-;      11.5    Assigned
                                                         Stable /CARE A4
Shriram Cotton Fibers                 LT BkFac           CARE B; Stable 65      Revised from
                                                                                CARE B+;
                                                                                Stable
Issuer Not Cooperating;Based on best available information.
Smart Value Homes (Boisar) Pvt. Ltd.  LT Bk Fac          -              -       Withdrawn
Society Distributors Pvt Ltd          LT BkFac           CARE B+; Stable150     Revised from
                                                                                CARE BB
Issuer Not Cooperating;Based on best available information.
Sona Biscuits Ltd                     LT Bk Fac          CARE BBB;      83.5    Assigned
                                                         Stable
Subizz Travel Solutions Pvt Ltd       LT BkFac           CARE B+; Stable4.4     -
Issuer Not Cooperating;Based on best available information.
Subizz Travel Solutions Pvt Ltd       Long/ST BkFac      CARE B+;       10.8    -
                                                         Stable/CARE A4
Issuer Not Cooperating;Based on best available information
Sunder Biscuit Industries             LT BkFac           CARE B+; Stable58.4    Revised from
                                                                                CARE BB-;
                                                                                Stable
Issuer Not Cooperating;Based on best available information
Sunder Food Products                  LT BkFac           CARE B+; Stable125     Revised from
                                                                                CARE BB-;
                                                                                Stable
Issuer Not Cooperating;Based on best available information
Sunflower Trust 2019                  Series A PTCs      CARE A- (SO)   245.8   Assigned
Umang Oils Pvt Ltd                    LT BkFac           CARE B+; Stable100     Revised from
                                                                                CARE BB-
Issuer Not Cooperating;Based on best available information
United Machinery & Appliances         LT Bk Fac          CARE B; Stable 30      Revised From
                                                                                CARE B+;
                                                                                Stable
Issuer Not Cooperating based on best available information
Universal Enterprises                 LT Bk Fac          CARE B+; Stable50      Assigned
Uttarakhand Uthan Samiti              LT Bk Fac          CARE BB; Stable160     Revised from
                                                                                CARE BB-;
                                                                                Stable
Issuer not cooperating; Based on best available information
Uttarakhand Uthan Samiti              LT Bk Fac          CARE BB; Stable160     Revised from
                                                                                CARE BB-;
                                                                                Stable
Issuer not cooperating; Based on best available information
Varad Fertilisers                     LT Bk Fac          CARE B         53      -
Issuer not cooperating; Based on best available information
Viswakarma Roofings (India) Pvt Ltd   LT Bk Fac          CARE B-        150     Revised from
                                                                                CARE B+
Issuer not cooperating; Based on best available information
Volt-Age Infra Pvt Ltd                LT Bk Fac          CARE D         70      -
Issuer not cooperating; Based on best available information
Volt-Age Infra Pvt Ltd                ST Bk Fac          CARE D         95      -
Issuer not cooperating; Based on best available information
--------------------------------------------------------------------------------------------
$: 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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