November 6, 2019 / 10:26 AM / 8 days ago

CARE ratings for Indian debt instruments-Nov 6

    Nov 6 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 5, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Akash Agro Industries                 ST Bk Fac          CARE A4        100     -
(Issuer not cooperating; Based on best available information)
Bnazrum Agro Exports Pvt Ltd          ST Bk Fac          CARE D         90      Assigned
Bharat Petroleum Corporation Ltd      CP                 CARE A1+       45000   Reaffirmed
Dgp Steel Star Engineering Pvt Ltd    ST Bk Fac          CARE A4        30      Assigned
Hirawat Electricals Pvt Ltd           ST Bk Fac          CARE A4        10      Assigned
India Circuits Ltd                    ST Bk Fac          CARE A4        90      Reaffirmed
Sanctus Global Formulations Ltd       ST Bk Fac          CARE A4        30      Reaffirmed
Tathya Texfab Pvt Ltd                 ST Bk Fac          CARE A4        1.5     Reaffirmed
Mayur Leather Products Ltd            ST Bk Fac          CARE D         10.5    Revised from
Max Impex                             ST Bk Fac          -              -       Withdrawn
                                                                                CARE A4


LONG TERM RATINGS:
-------------------
Akash Agro Industries                 LT Bk Fac          CARE B+; Stable90      Revised from
                                                                                CARE BB-;
                                                                                Stable
(Issuer not cooperating; Based on best available information)
Bharat Petroleum Corporation Ltd      NCD issue          CARE AAA;      5500    Reaffirmed
                                                         Stable
Bharat Petroleum Corporation Ltd      NCD issue          CARE AAA;      7500    Reaffirmed
                                                         Stable
Bharat Petroleum Corporation Ltd      NCD issue          CARE AAA;      10000   Reaffirmed
                                                         Stable
Bharat Petroleum Corporation Ltd      NCD issue          CARE AAA;      5000    Reaffirmed
                                      (Proposed)         Stable
Bhopal Garage And Service Station     LT Bk Fac          CARE B+        150.9   Revised from
                                                                                CARE BB-
(Issuer not cooperating; Based on best available information)
Bnazrum Agro Exports Pvt Ltd          LT Bk Fac          CARE D         229.2   Assigned
Dgp Steel Star Engineering Pvt Ltd    LT Bk Fac          CARE B+; Stable45      Assigned
Dhruv Cotex Pvt Ltd                   LT Bk Fac          CARE B+; Stable130     Reaffirmed
Hirawat Electricals Pvt Ltd           LT Bk Fac          CARE B+; Stable68.1    Assigned
India Circuits Ltd                    LT Bk Fac          CARE BB-;      145     Reaffirmed
                                                         Stable
Max Impex                             LT Bk Fac          -              -       Withdrawn
Mayur Leather Products Ltd            LT Bk Fac          CARE D         6.6     Revised from
                                                                                CARE C
Mayur Leather Products Ltd            LT/ST Bk Fac       CARE D/D       80      Revised from
                                                                                CARE C/ A4
Nirmal Bot Ltd                        NCDs               CARE AAA       1634.8  -
                                                         (Triple A)
(Placed on credit watch with developing implications)
Nv Distilleries Pvt Ltd               LT Bk Fac(Fund     CARE BBB-;     600     Reaffirmed
                                      Based)             Stable
Pramukh Cotex Pvt Ltd                 LT Bk Fac          CARE BB-;      109.6   Reaffirmed
                                                         Stable
R.S. Fuel Pvt Ltd                     LT Bk Fac          CARE BB+       49      -
(Issuer not cooperating; Based on best available information)
R.S. Fuel Pvt Ltd                     Long/ST Bk Fac     CARE BB+ / A4+ 250     -
(Issuer not cooperating; Based on best available information)
Sanctus Global Formulations Ltd       LT Bk Fac          CARE BB-;      69.7    Reaffirmed
                                                         Stable
Shivaay International Llp             LT Bk Fac          CARE B+; Stable66.4    Assigned
Shivaay International Llp             LT/ ST Bk Fac      CARE B+;       3.6     Assigned
                                                         Stable/ A4
Tathya Texfab Pvt Ltd                 LT Bk Fac          CARE B+        93.1    Reaffirmed
Teenmurty Summit Realty Llp           LT Bk FacTL#       CARE A- (CE)   749.9   Reaffirmed
# backed by irrevocable and unconditional declaration cum undertaking extended by B.G. Shirke
Construction Technology Private Limited (BGSCTPL)
Yaksha Krapa Cashew Industries        LT Bk Fac          CARE B+        64.4    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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