October 16, 2019 / 7:06 AM / a month ago

CARE ratings for Indian debt instruments-Oct 16

    Oct 16 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 15, 2019.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Arvind Fashions Ltd                   ST BkFac           CARE A1        1500    Assigned
Arvind Lifestyle Brands Ltd           ST BkFac           CARE A1 (CE)   1763.2  Assigned
Emmbi Industries Ltd                  ST Bk Fac          -              -       -
Reaffirmed at CARE A2 and withdrawn
Ramniwas Agrawal                      ST Bk Fac          CARE A4        150     -
(Issuer did not cooperate; Based on best available information)
Rungta Irrigation Ltd                 ST Bk Fac          CARE A4        80      -
(Issuer did not cooperate; Based on best available information)
Pinnacle Teleservices Pvt Ltd         ST Bk Fac          -              -       Withdrawn
Safetix Protective Equipments Pvt Ltd ST BkFac           CARE A4        50      Revised
                                                                                From
                                                                                CARE A3
(Issuer did not cooperate; Based on best available information)
Seya Industries Ltd                   ST Bk Fac          CARE D         60      Revised from
                                                                                CARE A3+
Sai Babuji Projects Pvt Ltd           ST Bk Fac          CARE A4        56      -
(Issuer did not cooperate; Based on best available information)
Sai Constructions_Hyderabad           ST Bk Fac          CARE A4        50      -
(Issuer did not cooperate; Based on best available information)
Spectrum Auxi-Chem Pvt Ltd            ST Bk Fac          CARE A4        20      Reaffirmed
(Issuer did not cooperate; Based on best available information)
Swadeshi Marketing Pvt Ltd            ST BkFac           CARE A4        60      -
(Issuer did not cooperate; Based on best available information)
Vimal Intertrade Pvt Ltd              ST Bk Fac          CARE A3+       840     Reaffirmed
West Coast Frozen Foods Pvt Ltd       ST Bk Fac          CARE D         1062.5  Revised from
                                                                                CARE A3
(Issuer did not cooperating)
West Coast Fine Foods India Pvt Ltd   ST Bk Fac          CARE A4        11.1    Revised from
                                                                                CARE A3
(Issuer did not cooperating)

LONG TERM RATINGS:
-------------------
Arvind Fashions Ltd                   LT BkFac           CARE A/Negative200     Assigned
Arvind Fashions Ltd                   LT/ ST Bk Fac      CARE           1300    Reaffirmed
                                                         A/Negative/A1
(reduced from 200.00 Crore)
Arvind Lifestyle Brands Ltd           LT Bk Fac          CARE A (CE)/   1834.7  Assigned
                                                         Negative
Arvind Lifestyle Brands Ltd           LT/ Shortterm Bk   CARE A (CE)/   5650    Assigned
                                      Fac                Negative/A1
                                                         (CE)
Arvind Lifestyle Brands Ltd           LT/ Shortterm Bk   CARE A (CE)/   1650    Assigned
                                      Fac                Negative/CARE
                                                         A1 (CE)
Arvind Smart Textiles Ltd             LT BkFac           CARE AA- (CE)  850     Assigned
                                                         /Stable
Arvind Smart Textiles Ltd             LT/ STBk Fac       CARE AA- (CE)  340     Assigned
                                                         /Stable/A1+
                                                         (CE)
Balaji Alliance Developers Llp        LT Bk Fac          -              -       Withdrawn
Champion Group Of Company             LT Bk Fac          CARE BB-/Stable135     Assigned
Emmbi Industries Ltd                  LT Bk Fac          -              -       -
Outlook: Stable from CARE BBB+, Outlook: Positive and Withdrawn
Greenko Energy Projects Pvt Ltd       NCD issue          -              -       Withdrawn
Infutec Healthcare Ltd                LT Bk Fac          CARE D         492.7   Reaffirmed
(Reduced from Rs.56.28 crore Crore)
Infutec Healthcare Ltd                Long - term /      CARE D/D       145     Reaffirmed
                                      Short - term Bk Fac
Mahaprabhu Ram Mulkh Hi Tech EducationLT Bk Fac          CARE D         25.5    -
Society
(Issuer did not cooperate; Based on best available information)
Mahaprabhu Ram Mulkh Hi Tech EducationST Bk Fac          CARE D         40      -
Society
(Issuer did not cooperate; Based on best available information)
Mdd Medical Systems (India) Pvt Ltd   LT BkFac           CARE BB        20      -
Mdd Medical Systems (India) Pvt Ltd   LT/ ST Bk Fac      CARE BB/A4     100     -
Pasupati Agrovet Pvt Ltd              LT Bk Fac          CARE BBB/Stable200     Assigned
Pinnacle Teleservices Pvt Ltd         LT Bk Fac          -              -       Withdrawn
Ramniwas Agrawal                      LT Bk Fac          CARE B/Stable  12.5    Revised from
                                                                                CARE B+ Stable
(Issuer did not cooperate; Based on best available information)
Rungta Irrigation Ltd                 LT Bk Fac          CARE B         140     -
(Issuer did not cooperate; Based on best available information)
Safetix Protective Equipments Pvt Ltd LT BkFac           CARE BB+       100     Revised
                                                                                from
                                                                                CARE BBB-
(Issuer did not cooperate; Based on best available information)
Sai Babuji Projects Pvt Ltd           LT Bk Fac          CARE B/Stable  84      Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer did not cooperate; Based on best available information)
Sai Constructions_Hyderabad           LT Bk Fac          CARE B/Stable  10      Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer did not cooperate; Based on best available information)
Saroja Renewables Ltd                 LT Bk Fac-TL       -              -       Withdrawn
                                      (Senior Debt)
Saroja Renewables Ltd                 LT Bk Fac-TL (Sub  -              -       Withdrawn
                                      Debt)
Seya Industries Ltd                   LT Bk Fac          CARE D         5099.5  Revised from
                                                                                CARE BBB+
Si Creva Capital Services Pvt Ltd     LT Bk Fac          CARE BBB/Stable250     Reaffirmed
Si Creva Capital Services Pvt Ltd     LT Bk Fac          CARE BBB/Stable250     Assigned
Si Creva Capital Services Pvt Ltd     LT Bk Fac          CARE BBB+      250     Reaffirmed
                                                         (CE)2/Stable
(Credit Enhancement)/Outlook: Stable
Spectrum Auxi-Chem Pvt Ltd            LT/STBk Fac $      CARE           90      Reaffirmed
                                                         BB/Stable/A4
$ Reclassified from Long-term to Long-term/Short-term
Swadeshi Marketing Pvt Ltd            LT BkFac           CARE B+/Stable 60      Revised from
                                                                                CARE BB;Stable
(Issuer did not cooperate; Based on best available information)
Swastik Cement Products Pvt Ltd       LT BkFac           CARE BB-/Stable70      Revised from
                                                                                CARE BB;
                                                                                Stable
(Issuer did not cooperate; Based on best available information)
Venta Realtech Pvt. Ltd. (Earlier KnowLT BkFac           CARE D         900     -
As Krish Realtynirman Pvt. Ltd.)
(Issuer did not cooperate; Based on best available information)
Vimal Intertrade Pvt Ltd              LT Bk Fac          CARE BBB/Stable560     Reaffirmed
Vimal Intertrade Pvt Ltd              LT/ST Bk Fac       CARE           500     Reaffirmed
                                                         BBB/Stable/A3+
Vimal Life Sciences Pvt Ltd           LT/ST Bk Fac       CARE           240     Reaffirmed
                                                         BBB/Stable/A3+
West Coast Fine Foods India Pvt Ltd   LT Bk Fac          CARE B/Stable  240     Revised from
                                                                                CARE
                                                                                BBB-Stable
(Issuer did not cooperating)
West Coast Fine Foods India Pvt Ltd   LT/ST Fund based   CARE           150     Revised from
                                      Bk Fac             B/Stable/A4            CARE
                                                                                BBB-
                                                                                Stable/CARE A3
(Issuer did not cooperating)
West Coast Frozen Foods Pvt Ltd       LT Bk Fac          CARE D         57.5    Revised from
                                                                                CARE
                                                                                BBB-Stable
(Issuer did not cooperating)
Yes Capital (India) Pvt Ltd           NCD issue          -              -       Withdrawn
--------------------------------------------------------------------------------------------
$: 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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