November 7, 2019 / 6:42 AM / 3 months ago

CARE ratings for Indian debt instruments-Nov 7

    Nov 7 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of November 6, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agrimas Chemicals Ltd                 ST Bk Fac          CARE D         180     -
(Issuer not cooperating, on the basis of best available information) Revised from CARE A4+
Aalaya Jewel Industry Pvt Ltd         ST Bk Fac          CARE A4        90      Assigned
Arnav Agrotech                        ST Bk Fac          CARE A4        45      -
Coromandel Agrico Pvt Ltd             ST Bk Fac          CARE D         220     Revised from
                                                                                CARE A4+
(Issuer not cooperating, on the basis of best available information )
Gurulaxmi Cottex Pvt Ltd              ST Bk Fac          CARE A4        15      Assigned
Jagadeesh Marine Exports              ST Bk Fac          CARE A3        30      Assigned

Koner Food Product                    ST Bk Fac          CARE A4;       4.5     -
(Issuer not cooperating, on the basis of best available information )
Leiner Shoes Pvt Ltd                  ST Bk Fac          CARE A1 (A     27      Reaffirmed
                                                         One)-
Meena Jewellers & Diamonds Pvt Ltd    ST Bk Fac          CARE D         50      -
(Issuer not cooperating, on the basis of best available information )
Meena Jewellers Pvt Ltd               ST Bk Fac          CARE D         50      -
(Issuer not cooperating, on the basis of best available information )
Mayor & Company                       ST BkFac           CARE A4        112     -
(Issuer not cooperating, on the basis of best available information )
Premier Plastic Industries            ST BkFac           CARE A4        130     Revised from
                                                                                CARE A4+
(Issuer not cooperating, on the basis of best available information )
Rainbow Infrastructure Pvt Ltd        ST Bk Fac          CARE A4        80      -
(Issuer not cooperating, on the basis of best available information )
Rapicut Carbides Ltd                  ST BkFac           CARE A3+       37.5    -
Continues to be on credit watch with developing implications
Refair India Pvt Ltd                  ST Bk Fac          CARE A4        30      Assigned
Indo Rama Synthetics India Ltd        ST Bk Fac (Fund    -              -       Reaffirmed at
                                      Based)                                    D and
                                                                                withdrawn
Sian Infra And Realcon Llp            ST Bk Fac          CARE A4        340     -
(Issuer not cooperating, on the basis of best available information )
Vivekananda Paddy Mills Pvt Ltd       ST BkFac           CARE A4        2.8     -
(Issuer not cooperating, on the basis of best available information )


LONG TERM RATINGS:
-------------------
Agrimas Chemicals Ltd                 LT Bk Fac          CARE D         250     -
(Issuer not cooperating, revised from CARE BB+)
Arnav Agrotech                        LT Bk Fac          CARE B+        9.1     Reaffirmed
Balaji Packplast Pvt Ltd              LT Bk Fac          CARE BB-       78      Reaffirmed
(reduced from 8.94 Crore)
Cartel Health Care Pvt Ltd            LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Chaitanya Seeds                       Long -term Bk Fac  CARE BB-       100     Assigned
Coromandel Agrico Pvt Ltd             LT Bk Fac          CARE D         535.8   Revised from
                                                                                CARE BB+
(Issuer not cooperating, on the basis of best available information )
Dvara Kshetriya Gramin Financial      NCD (Proposed)     CARE BBB       500     Assigned
Services Pvt Ltd
Elnet Technologies Ltd                Issuer Rating      CARE A- (Is)   -       Assigned
Focus Edumatics Pvt Ltd               LT Bk Fac          CARE BB        70      Reaffirmed
Focus Edumatics Pvt Ltd               LT/ST BkFac        CARE BB;       14.5    Reaffirmed
                                                         Stable/CARE A4+
Gurulaxmi Cottex Pvt Ltd              LT Bk Fac          CARE BB        484     Assigned
Idbi Asset Management Company Ltd.    IDBI ST Bond Fund  CARE A+mfs     -       Revised from
                                                                                CARE A-mfs
Idbi Asset Management Company Ltd.    IDBI Dynamic Bond  CARE AA+mfs    -       Revised from
                                      Fund                                      CARE AA-mfs
Idbi Asset Management Company Ltd.    IDBI Ultra ST Fund CARE AAAmfs    -       Revised from
                                                                                CARE Amfs
Idbi Asset Management Company Ltd.    IDBI Gilt Fund     CARE AAAmfs    -       Reaffirmed
Idbi Asset Management Company Ltd.    IDBI Liquid Fund   CARE AAAmfs    -       Reaffirmed
Indo Rama Synthetics India Ltd        LT Bk Fac – TL     -              -       Reaffirmed at
                                                                                D and
                                                                                withdrawn
Indo Rama Synthetics India Ltd        LT/ST Bk Fac       -              -       Reaffirmed at
                                      (Non-Fund Based)                          D and
                                      Total Fac                                 withdrawn
Jagadeesh Marine Exports              LT Bk Fac          CARE BBB-      864     Assigned
Kaalendi Ventures Llp                 LT Bk Fac          CARE B         164.6   Revised From
                                                                                CARE B+
(Issuer not cooperating, on the basis of best available information )
Koner Food Product                    LT Bk Fac          CARE B+; Stable89      -
(Issuer not cooperating, on the basis of best available information )
Leiner Shoes Pvt Ltd                  LT Bk Fac          -              -       Withdrawn
Leiner Shoes Pvt Ltd                  LT/ST Bk Fac       CARE A/A1      240     Reaffirmed
                                                         (Single
                                                         A/Outlook: /A One)
Levita Polypack Llp                   LT Bk Fac          CARE B+;       80      -
                                                         Stable;
(Issuer not cooperating, on the basis of best available information )
Lic Mutual Fund Asset Management Ltd  LIC MF G-Sec LT    -              -       Withdrawn*
                                      Exchange Traded
                                      Fund
'*CARE had placed the outstanding rating assigned to LIC MF G-Sec Long Term Exchange
 Traded Fund on ‘Notice of Withdrawal’ for a period of ninety days. Upon expiry of 
 the said notice period of ninety days, the rating of ‘CARE AAAmfs’
 [Triple A mfs] assigned to the aforesaid mutual fund scheme stands withdrawn
 with immediate effect. 
Lic Mutual Fund Asset Management Ltd  LIC MF Savings     CARE AAAmfs    -       Revised from
                                      Fund                                      CARE A+mfs
Lic Mutual Fund Asset Management Ltd  LIC MF Bking & PSU CARE AAAmfs    -       Reaffirmed
                                      Debt Fund
M L Rice Mills                        LT Bk Fac          CARE B; Stable;245     -
(Issuer not cooperating, on the basis of best available information )
Meena Jewellers & Diamonds Pvt Ltd    LT Bk Fac          CARE D         630     -
(Issuer not cooperating, on the basis of best available information )
Meena Jewellers Exclusive Pvt Ltd     LT Bk Fac          CARE D         680     -
(Issuer not cooperating, on the basis of best available information )
Meena Jewellers Extension Pvt Ltd     LT Bk Fac          CARE D         280     -
(Issuer not cooperating, on the basis of best available information )
Meena Jewellers Pvt Ltd               LT Bk Fac          CARE D         610     -
(Issuer not cooperating, on the basis of best available information )
Meena Jewels Exports                  LT Bk Fac          CARE D         320     -
(Issuer not cooperating, on the basis of best available information )
Northern Arc 2019 Mosec               Series A1 PTC      ProCARE A- (SO)-       -
Percival(Originator: Village Financial
Services Ltd (Vfs), Vaya Finserv Pvt Ltd (Vfpl) & Namra Fin
Northern Arc 2019 Mosec               Series A2 PTC      ProCARE BBB    -       -
Percival (Originator: Village Financial
Services Ltd (Vfs), Vaya Finserv Pvt Ltd (Vfpl) & Namra Fin
Polysil Irrigation Systems Pvt Ltd    LT/ST Bk Fac       -              -       Withdrawn
Premier Plastic Industries            LT BkFac           CARE B         58      Revised from
                                                                                CARE BB
(Issuer not cooperating, on the basis of best available information )
Rainbow Infrastructure Pvt Ltd        LT Bk Fac          CARE B+; Stable40      -
(Issuer not cooperating, on the basis of best available information )
Rapicut Carbides Ltd                  LT BkFac           CARE BBB       13.5    -
Placed on credit watch with developing implications
Rapicut Carbides Ltd                  LT/ STBk Fac       CARE BBB/CARE  47      -
                                                         A3+
Continues to be on credit watch with developing implications
Refair India Pvt Ltd                  LT Bk Fac          CARE B+        30      Assigned
Saipuram Wind Energies Pvt Ltd        LT Bk Fac          -              -       Withdrawn
Sian Infra And Realcon Llp            LT Bk Fac          CARE B         60      Revised from
                                                                                CARE BB-
(Issuer not cooperating, on the basis of best available information )
Sri Karthick Poultry Farm             LT Bk Fac          CARE B         140     Assigned
Sudarshan Beopar Co. Ltd              LT Bk Fac          CARE BB-       160     Revised from
                                                                                CARE BB;
(Issuer not cooperating, on the basis of best available information )
Sundaram Asset Management Co. Ltd     Sundaram Low       CARE AAAmfs    -       Revised from
                                      Duration Fund                             CARE Amfs
Sundaram Asset Management Co. Ltd     Sundaram ST Debt   CARE AAAmfs    -       Revised from
                                      Fund                                      CARE Amfs
Umashree Rice Mills Pvt Ltd           LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Vivekananda Paddy Mills Pvt Ltd       LT Bk Fac          CARE BB-       50      Revised From
                                                                                CARE BB
(Issuer not cooperating, on the basis of 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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