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CARE ratings for Indian debt instruments-Nov 6

    Nov 6  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of November 5, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Alufit (India) Pvt Ltd                ST Bk Fac          CARE A2+       1920    Reaffirmed
(removed from Under Credit watch with Developing Implications)
Bharat Carriers Ltd                   ST Bk Fac          CARE D         5       Revised from
                                                                                CARE A4+
Ecl Finance Ltd                       CP                 CARE A1+       15000   Reaffirmed
(reduced from 5000 Crore)
Ecl Finance Ltd                       CP (IPO Financing) CARE A1+       25000   Reaffirmed
(reduced from 5000 Crore)
Edelweiss Custodial Services Ltd      ST Bk Fac          CARE A1+       5000    Reaffirmed
Edelweiss Financial Services Ltd      CP                 CARE A1+       15750   Reaffirmed
(reduced from 6,350 crs)
Edelweiss Rural And Corporate ServicesCP                 CARE A1+       15000   Reaffirmed
Ltd
(reduced from 8500 Crore)
Edelweiss Rural And Corporate ServicesCP(IPO Financing)  CARE A1+       25000   Reaffirmed
Ltd
(reduced from 6000 Crore)
G P Cottfab Pvt Ltd                   ST Bk Fac          -              -       Withdrawn
Hyquip Technologies Ltd               ST Bk Fac          CARE D         13
Rating continues to remain under Issuer Not Cooperating category
Indian Synthetic Rubber Pvt Ltd       ST Bk Fac          CARE A1        3500    Reaffirmed
Kamakshi Flexiprints Pvt Ltd          ST Bk Fac          CARE A4+       45      Reaffirmed
Kpt Industries Ltd (Formerly Known As ST BkFac           CARE A4        182.3   Reaffirmed
Kulkarni Power Tools Ltd)
(Enhanced from 13.88 Crore)
Lohiya Industries                     ST Bk Fac          --             -       Withdrawn at
                                                                                CARE A4+;
(Issuer Not Cooperating)
Lohiya Edible Oils Pvt Ltd            ST Bk Fac          --             -       Withdrawn at
                                                                                CARE A4+;
(Issuer Not Cooperating)
Lyophilization Systems India Pvt Ltd  ST Bk Fac          CARE A4;       40      -
(Rating continues to remain under Issuer Not Cooperating category)
Maithan Ceramic Ltd                   ST Bk Fac          CARE A2        306     Reaffirmed
Sanjay Shukla                         ST Bk Fac          CARE A4        69
(Issuer Not Cooperating; Based on best available information)
Sri Balaji Tech                       ST Bk Fac          CARE D         10      Revised from
                                                                                CARE A4
(Rating continues to remain under Issuer Not Cooperating category)
Thangavel Fabrics Pvt Ltd             ST Bk Fac          CARE D         173     Revised from
                                                                                CARE A4
(Rating continues to remain under Issuer Not Cooperating category)
V2 Innovatives Pvt Ltd                ST BkFac           CARE A4;       15      -
(Rating moved to Issuer Not Cooperating category)
 
LONG TERM RATINGS:
-------------------
Aadya Plast                           LT Bk Fac          CARE B+; Stable48      Revised from
                                                                                CARE BB-;
                                                                                Stable
(moved to Issuer Not Cooperating category)
Alufit (India) Pvt Ltd                LT Bk Fac          CARE A-;       580     Reaffirmed
                                                         Stable                 and Stable
                                                                                outlook assigned
(removed from Under Credit watch with Developing Implications;)
Atria Solar Power (Ryapte) Pvt Ltd    LT Bk Fac          CARE BB+;      855.6   Revised from
                                                         Stable                 CARE BBB-;
                                                                                Negative
Avarampalayam Sarvodaya Sangh         LT Bk Fac          CARE BB; Stable270     Revised from
                                                                                CARE BB+;
                                                                                Stable
(moved to Issuer Not Cooperating category)
Bharat Carriers Ltd                   LT Bk Fac          CARE D         130.3   Revised from
                                                                                CARE BB+;
                                                                                Stable
Birlasoft Ltd                         LT Bk Fac          CARE AA-;      2437    Reaffirmed
                                                         Stable
Damoh - Jabalpur Toll Roads Ltd       LT Bk Fac          -              -       Withdrawn
Dimple Realtors Pvt Ltd               LT Bk Fac          CARE BB-;      1000    Reaffirmed
                                                         Negative
(Outlook revised from Stable)
Drive India Enterprise Solutions Ltd  LT/ST Bk Fac       CARE BB+;      1650    Revised from
                                                         Stable /CARE           CARE BBB-;
                                                         A4+;                   Stable / CARE A3
(Rating continues to remain under Issuer Not Cooperating category)
Ecl Finance Ltd                       Principal          -              -       Withdrawn
                                      protected
                                      Market-linked Debenture*
*Withdrawn Rs. 300 crore Principal protected Market-linked Debenture at the request of the
client as unutilized    
Ecl Finance Ltd                       Principal          CARE PP-MLD    1019.8  Reaffirmed
                                      protected          A+; Stable
                                      Market-linked Debenture
(reduced from 201.98 Crore)
Edelweiss Asset Reconstruction CompanyLT Bk Fac@         -              -       Withdrawn
Ltd
@The above instrument of Rs. 370 crore and facility of Rs 220 crore were to be backed by a
letter of comfort issued by Edelweiss Financial Services Ltd. (EFSL)    
Edelweiss Asset Reconstruction CompanyNCDs@              -              -       Withdrawn
Ltd
@The above instrument of Rs. 370 crore and facility of Rs 220 crore were to be backed by a
letter of comfort issued by Edelweiss Financial Services Ltd. (EFSL) 
Edelweiss Custodial Services Ltd      LT Bk Fac          CARE A+; Stable10000   Assigned
Edelweiss Finvest Pvt Ltd             Principal          CARE PP-MLD    1000    Re-affirmed
                                      Protected Market   A+; Stable
                                      Linked Debentures
(reduced by 400 Crore)
Edelweiss Rural And Corporate ServicesProposed NCDs*     -              -       Withdrawn
Ltd
*The rating of Rs. 170 crore instrument was to be based on the credit enhancement by EFSL (CARE
A1+) in the form of unconditional and irrevocable corporate guarantee in favour of the existing/
proposed instruments of EAVCL.
Ess Kay Fincorp Ltd                   LT Bk Fac          CARE A; Stable 8114.2  Reaffirmed
(enhanced from 367.22 Crore)
Ess Kay Fincorp Ltd                   LT Fac (Tier II)   CARE A; Stable 200     Reaffirmed
Fortune Spirit Ltd                    LT BkFac           CARE D         150     Revised from
                                                                                CARE B; Stable
(moved to Issuer Not Cooperatingcategory)
G P Cottfab Pvt Ltd                   LT Bk Fac          -              -       Withdrawn
Hyquip Technologies Ltd               LT Bk Fac          CARE D         21.4
(Rating continues to remain under Issuer Not Cooperating category)
Indian Synthetic Rubber Pvt Ltd       LT Bk Fac          CARE A; Stable 2500    Reaffirmed
Ipsaa Holdings Pvt Ltd                LT Bk Fac          CARE B+; Stable156.4   Revised from
                                                                                CARE BB;
                                                                                Stable
(moved to Issuer Not Cooperating category)
Kamakshi Flexiprints Pvt Ltd          LT / ST Bk Fac     CARE BB+;      85      Reaffirmed;
                                                         Stable /CARE           Outlook
                                                         A4+                    revised from
                                                                                Positive
Kpt Industries Ltd (Formerly Known As LT BkFac           CARE BB; Stable170.4   Reaffirmed
Kulkarni Power Tools Ltd)
(Reduced from 18.77 Crore)
Kpt Industries Ltd (Formerly Known As LT / ST Bk Fac     CARE BB;       180     Reaffirmed
Kulkarni Power Tools Ltd)                                Stable /CARE A4
(Enhanced from 12.00 Crore)
Livfin India Pvt Ltd                  LT Bk Fac          CARE BBB-;     750     Reaffirmed
                                                         Stable
(enhanced from Rs.25 cr Crore)
Lohiya Edible Oils Pvt Ltd            LT Bk Fac          --             -       Withdrawn at
                                                                                CARE BB+;
                                                                                Stable;
(Issuer Not Cooperating)
Lohiya Industries                     LT Bk Fac          --             -       Withdrawn at
                                                                                CARE BB+;
                                                                                Stable
(Issuer Not Cooperating)
Lyophilization Systems India Pvt Ltd  LT Bk Fac          CARE BB-;      25      Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(Rating continues to remain under Issuer Not Cooperating category)
Maithan Ceramic Ltd                   LT Bk Fac          CARE BBB+;     440     Reaffirmed
                                                         Negative
Maithan Ceramic Ltd                   LT / ST Bk Fac     CARE BBB+;     150     Reaffirmed
                                                         Negative /CARE
                                                         A2
Mancherial Repallewada Road Pvt Ltd   LT Bk Fac          CARE A-; Stable5500    Reaffirmed
                                                                                and
                                                                                Final  
                                                                                Rating Assigned
(Reduced from 610.62 crs)
Meenu Creation Llp                    LT Bk Fac          CARE BB;       695     Assigned
                                                         Stable
Meenu Creation Llp                    LT / ST Bk Fac     CARE BB;       25      Assigned
                                                         Stable /CARE A4
Narayan Spinning Mills Pvt Ltd        LT Bk Fac          CARE BB+;      333.3   Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(Reduced from 38.33 Crore)
Narayan Spinning Mills Pvt Ltd        LT / ST Bk Fac     CARE BB+;      25      Revised from
                                                         Stable /CARE           CARE BB;
                                                         A4+                    Stable / CARE A4
Origo Commodities India Pvt Ltd       CP                 -              -       Withdrawn
Parasmal Khasgiwala Memorial CharitablLT Bk Fac          -              -       Reaffirmed at
Trust                                                                           CARE B, and
                                                                                withdrawn
Pivot Fabrique                        LT Bk Fac          -              -       Withdrawn
Prudhvi Infra Projects Pvt Ltd        LT Bk Fac          CARE B; Stable 225     Revised from
                                                                                CARE BB-;
                                                                                Stable;
(Rating continues to remain under Issuer Not Cooperating category)
Rake Power Ltd                        LT / ST Bk Fac     CARE D /CARE D 30
(Rating moved to Issuer Not Cooperating category)
Rake Power Ltd                        LT Bk Fac          CARE D;        70
(Rating moved to Issuer Not Cooperating category)
Rudra Concept Speciality ConstructionsLT Bk Fac          CARE B-; Stabl 78      Revised from
Llp                                                                             CARE B; Stable
(moved to Issuer Not Cooperating category)
Rudra Concept Speciality Constructions LT/ ST Bk Fac     CARE B-;       2       Revised from
Llp                                                      Stable /CARE A4        CARE B;
                                                                                Stable / CARE A4
(moved to Issuer Not Cooperating category)
Sanjay Shukla                         LT Bk Fac          CARE BB-;      63
                                                         Stable
(Issuer Not Cooperating; Based on best available information)
Secure Metering & Services (Bhilwara) LT BkFac           CARE AA- (CE); 360     Assigned
Pvt Ltd                                                  Stable
Srg Aluminium Pvt Ltd                 LT BkFac           CARE B; Stable 139.4   Revised from
                                                                                CARE B+;
                                                                                Stable
(moved to Issuer Not Cooperating category)
Sri Balaji Tech                       LT Bk Fac          CARE D         104     Revised from
                                                                                CARE B; Stable
(Rating continues to remain under Issuer Not Cooperating category)
Sri Balaji Tech                       LT / ST Bk Fac     CARE D         20      Revised from
                                                                                CARE B;
                                                                                Stable / CARE A4
(Rating continues to remain under Issuer Not Cooperating category)
Thangavel Fabrics Pvt Ltd             LT Bk Fac          CARE D         150     Revised from
                                                                                CARE BB-;
                                                                                Stable
(Rating continues to remain under Issuer Not Cooperating category)
Transin Logistics Pvt Ltd             LT BkFac – TL      CARE B+; Stable39.6    Assigned
Transin Logistics Pvt Ltd             LT BkFac -         CARE B+; Stable198     Revised from
                                      Overdraft                                 CARE B; Stable
(Rating removed from Issuer Not Cooperating category)
Universal Traders                     LT BkFac           CARE B-; Stable100     Revised from
                                                                                CARE B+;
                                                                                Stable
(moved to Issuer Not Cooperating category)
V2 Innovatives Pvt Ltd                Long –term BkFac   CARE B;        124.7   Revised from
                                                         Stable;                CARE B+;
                                                                                Stable
(moved to Issuer Not Cooperating category)
Veer Bhadra Enterprises               LT BkFac           CARE B-; Stable100     Revised from
                                                                                CARE B+;
                                                                                Stable
(moved to Issuer Not Cooperating category)
--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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