October 17, 2019 / 7:58 AM / a month ago

CARE ratings for Indian debt instruments-Oct 17

   Oct 17 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 16, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Associated Toolings India Pvt Ltd     ST Bk Fac          CARE A4        48      Assigned
Bee Kay Precision (India) Pvt Ltd     ST Bk Fac          CARE D         10      Revised
                                                                                From 
                                                                                CARE A4
(Issuer not cooperating on the basis of best available information )
Ganesha International                 ST BkFac           CARE A4        130     -
(Issuer Not Cooperating. Based on best available information)
Gaurav Ispat                          Proposed ST BkFac  CARE A4 (A     10      Reaffirmed
                                                         Four)
Gaurav Ispat                          ST Bk Fac          CARE A4 (A     50      Reaffirmed
                                                         Four)
Maharaja Roofing Products             ST Fac             CARE A4        10      -
(Issuer not Cooperating;Based on best available information)
Nata Devices India Pvt Ltd            ST Bk Fac          CARE A4        6.5     -
(Issuer not cooperating; Based on best available information )
MJ Pharmaceuticals Pvt Ltd            ST NCD*            -              -       Withdrawn
* backed by credit enhancement in the form of unconditional and irrevocable
 corporate guarantee by Shanghvi Finance Private Limited (SFPL, guarantor).
MJ Pharmaceuticals Pvt Ltd            ST Proposed NCD**  -              -       Withdrawn
Omshree Agro Tech Pvt Ltd             ST Bk Fac          CARE A3        450     Assigned
Pushp Forgings Pvt Ltd                ST Bk Fac          CARE A4+       51.8    Reaffirmed
Rehmat Overseas                       ST Bk Fac          CARE A4        50      -
(Issuer not cooperating; Based on best available information )
Scoda Tubes Ltd                       ST Bk Fac          CARE A4        100     Assigned
Yamir Packaging Pvt Ltd               ST BkFac           CARE A4        4       -
(Issuer Not Cooperating; On the basis of best availableinformation)


LONG TERM RATINGS:
-------------------
Aditya Medisales Ltd                  CP- 1*             -              -       Withdrawn
*to be backed by credit enhancement in the form of unconditional and irrevocable 
corporate guarantee by Shanghvi Finance Private Limited (SFPL, guarantor). 
Finance Private Limited (SFPL, guarantor).
Associated Toolings India Pvt Ltd     LT Bk Fac          CARE B+        92      Assigned
Bee Kay Precision (India) Pvt Ltd     LT Bk Fac          CARE D         80      Revised from
                                                                                CARE B
(Issuer not cooperating on the basis of best available information )
East India Udyog Ltd                  Long/ ST Bk Fac    CARE           4000    Revised from
                                      (Non-fund based)   BB+/A4+/ISSUER         CARE BBB;
                                                         NOT COOPERATING* (DoublStable/ CAREA3
(Issuer not cooperating on the basis of best available information )
East India Udyog Ltd                  LT Bk Fac (FB)     CARE           2000    Revised from
                                                         BB+/ISSUER NOT         CARE BBB
                                                         COOPERATING* (Double B Plus/Outlook:
(Issuer not cooperating on the basis of best available information )
Ganesha International                 LT BkFac           CARE B         40      -
(Issuer Not Cooperating. Based on best available information)
Gaurav Ispat                          Proposed LT BkFac  CARE           30      Reaffirmed
                                                         BB-/(Double B
                                                         Minus/Outlook: /)
Gaurav Ispat                          Long / ST BkFac    CARE BB-/A4    90      Reaffirmed
                                                         (Double B
                                                         Minus/Outlook: /, A Four)
Jyoti Hospital Pvt Ltd                LT Bk Fac          CARE B         55.8    -
(Issuer not Cooperating;Based on best available information)
M.S. Solvent Industries               LT Bk Fac          CARE B         75      -
(Issuer not Cooperating;Based on best available information)
Maharaja Roofing Products             Long -term Bk Fac  CARE BB-       69.7    -
(reduced from 7.39 Crore), (Issuer not Cooperating;Based on best available information)
Manoj Cotton House                    LT Bk Fac          CARE B+        60      Assigned
MJ Pharmaceuticals Pvt Ltd            CP- 1*             -              -       Withdrawn
* backed by credit enhancement in the form of unconditional and irrevocable
 corporate guarantee by Shanghvi Finance Private Limited (SFPL, guarantor).
MJ Pharmaceuticals Pvt Ltd            CP -2 **           -              -       Withdrawn
**to be backed by credit enhancement in the form of unconditional and irrevocable
 corporate guarantee by Shanghvi Finance Private Limited (SFPL, guarantor).
Nata Devices India Pvt Ltd            LT Bk Fac          CARE B         50      -
(Issuer not cooperating; Based on best available information )
Omshree Agro Tech Pvt Ltd             LT Bk Fac          CARE BBB-      350     Assigned
Omshree Agro Tech Pvt Ltd             Long/ST BkFac      CARE BBB-;     150     Assigned
                                                         Stable/CARE A3
Pari Agri Grain Industries Pvt Ltd    LT Bk Fac          CARE B+        80      -
(Issuer not cooperating; Based on best available information )
Pushp Forgings Pvt Ltd                LT Bk Fac          CARE BB+       100     Reaffirmed
Ramayani Creations                    LT Bk Fac          CARE B         150     -
(Issuer not cooperating; Based on best available information )
Rehmat Overseas                       LT Bk Fac          CARE B         10      -
(Issuer not cooperating; Based on best available information )
S.K. Rice Industries                  Long -term Bk Fac  CARE D         100     -
(Issuer not cooperating; Based on best available information )
Scoda Tubes Ltd                       LT Bk Fac          CARE BB-       120     Assigned
Shanghvi Finance Pvt Ltd              Proposed NCD       -              -       Withdrawn
Suba Plastics Pvt Ltd                 Long -term Bk Fac  CARE C         60      -
(Issuer not cooperating; Based on best available information )
Suraksha Asset Reconstruction Ltd     CP- 1*             -              -       Withdrawn
* backed by credit enhancement in the form of unconditional and irrevocable 
corporate guarantee by Shanghvi Finance Private Limited (SFPL, guarantor).
Suraksha Asset Reconstruction Ltd     CP -2 **           -              -       Withdrawn
**to be backed by credit enhancement in the form of unconditional and irrevocable 
corporate guarantee by Shanghvi Finance Private Limited (SFPL, guarantor).
Suraksha Asset Reconstruction Ltd     Proposed NCD**     -              -       Withdrawn
**to be backed by credit enhancement in the form of unconditional and irrevocable
 corporate guarantee by Shanghvi Finance Private Limited (SFPL, guarantor).
TRN Energy Pvt Ltd                    LT Bk Fac- TL      CARE D         30565.7 Revised from
                                                                                CARE BBB+
                                                                                (CE); Stable @
@ACB India Ltd., the ultimate parent company of TRN, has supported the facilities
 of TRN by way of letter of comfort (LoC) and corporate guarantee till the final
 decision with respect to change in law petitions granted.
TRN Energy Pvt Ltd                    Long/ ST Bk Fac    CARE D/CARE D  2250    CARE BBB+(CE)
                                      (Non-Fundbased)                           Stable/CARE
                                                                                A3+(CE) @
@ACB India Ltd., the ultimate parent company of TRN, has supported the facilities
 of TRN by way of letter of comfort (LoC) and corporate guarantee till the final
 decision with respect to change in law petitions granted.
TRN Energy Pvt Ltd                    Long/ ST Bk Fac    CARE D/CARE D  2050    CARE BBB+(CE)
                                      (Fund/Non-Fund                            Stable/CARE
                                      based)                                    A3+(CE) @
@ACB India Ltd., the ultimate parent company of TRN, has supported the facilities
 of TRN by way of letter of comfort (LoC) and corporate guarantee till the final
 decision with respect to change in law petitions granted.
Unimed Technologies Ltd               CP- 1*             -              -       Withdrawn
* backed by credit enhancement in the form of unconditional and irrevocable
 corporate guarantee by Shanghvi Finance Private Limited (SFPL, guarantor).
Unimed Technologies Ltd               CP -2 **           -              -       Withdrawn
**to be backed by credit enhancement in the form of unconditional and irrevocable
 corporate guarantee by Shanghvi Finance Private Limited (SFPL, guarantor).
Vhv Beverages Pvt Ltd                 LT Bk Fac          CARE D         160     -
(Issuer not cooperating; Based on best available information )
Yamir Packaging Pvt Ltd               LT BkFac           CARE BB-       89.9    -
(Issuer Not Cooperating; On the basis of best availableinformation)
Yamir Packaging Pvt Ltd               LT/ ST Bk Fac      CARE BB-;      79      -
                                                         Stable/CARE A4;
(Issuer Not Cooperating; On the basis of best availableinformation)
--------------------------------------------------------------------------------------------
$: 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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