October 25, 2019 / 10:14 AM / 2 months ago

CARE ratings for Indian debt instruments-Oct 25

    Oct 25 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 24, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Asm Spun Tex                          ST BkFac           CARE A4        7       -
(Issuer not Cooperating; Based on best available information)
Boss Pharma                           ST Bk Fac          CARE A4        40      -
(Issuer not Cooperating; Based on best available information)
Corona Bus Manufacturers Pvt Ltd      ST Bk Fac          CARE D         30      Revised from
                                                                                CARE A4
(Issuer not Cooperating; Based on best available information)
Dollar Industries Ltd                 Proposed CP (CP)   CARE A1+       500     Assigned
                                      Issue*
*carved out of the sanctioned working capital limits of the company
Fitech Equipments (India) Pvt Ltd     ST Bk Fac          CARE A4+       90      Reaffirmed
Reaffirmed
Goel Traders                          ST Bk Fac          CARE A4        90      Assigned
Hospitality Education Services        ST Bk Fac          CARE A4        115     Reaffirmed
International
Jammu Motors Pvt Ltd                  ST Bk Fac          CARE A4        2       -
(Issuer not cooperating, Based on best available information)
Nahar Poly Films Ltd                  ST Bk Fac          CARE A2+       210     -
(Placed on Credit Watch with Developing Implications)
Nikka Mal Pyare Lal Jain              ST Bk Fac          CARE A4        30      -
(Issuer not cooperating; ; Issuer not cooperating)
Nutech Jetting Equipments India Pvt   ST Bk Fac          CARE A4        47.5    -
(Issuer not cooperating; Based on best available information)
Onkar International Pvt Ltd           ST Bk Fac          CARE A4        10      -
(Issuer not cooperating; Based on best available information)
Perfect Turners                       ST Bk Fac          CARE A4 (A     40      Reaffirmed
                                                         Four)
Pioneer Embroideries Ltd              ST Bk              CARE A4        7.5     Assigned
                                      Fac-Proposed
Rohit Agro Seeds Sales Corporation    ST Bk Fac          CARE A4        50      Assigned
Sangam Rice Pvt Ltd                   ST Bk Fac          CARE A4        110     -
(Issuer not cooperating ; Based on best available information)
Sapcon Steels Pvt Ltd                 ST Bk Fac          CARE A4        40      -
(Issuer not cooperating ; Based on best available information)
Shivakriti International Ltd          ST Bk Fac          CARE A4+       30      Revised from
                                                                                CARE A3
(Issuer not cooperating ; Based on best available information)
Smita Conductors Pvt Ltd              ST Bk Fac          CARE A1        2980    Reaffirmed
Swaraj Sulz Pvt Ltd                   ST Bk Fac          CARE A4        6
(Issuer not cooperating; Based on best available information)
Vrs Foods Ltd                         ST Bk Fac (Fund    -              -       Reaffirmed at
                                      Based) Total Fac                          CARE A4
(Reaffirmed at CARE A4; ISSUER NOT COOPERATING and Withdrawn)
Jesons Industries Ltd                 ST Bk Fac          -              -       -
(Reaffirmed at CARE A2 and withdrawn)
Magadh Precision Equipment Ltd        ST Bk Fac          CARE D         100     -
(Issuer not Cooperating; Based on best available information)
Shreeram Fibres India Pvt Ltd         ST Bk Fac          -              -       -
(Reaffirmed at CARE A4 and Withdrawn)
Rama Arts & Exports                   ST Bk Fac          -              -       -
(Reaffirmed at CARE A4 (A Four) and withdrawn)
Suyash Engineering Company            ST Bk Fac          -              -       Withdrawn


LONG TERM RATINGS:
-------------------
A S Pharma Pvt Ltd                    LT Bk Fac          CARE BB        175     -
(Issuer not Cooperating; Based on best available information)
Arabian Petroleum Ltd                 LT Bk Fac          CARE BB        128.8   Assigned
Arohan Financial Services Ltd         Unsecured          CARE A-        250     Assigned
                                      Subordinated NCDs
                                      (NCD)
Asm Spun Tex                          LT BkFac           CARE BB-       69.7    -
(Issuer not Cooperating; Based on best available information)
Bhavya Enterprises                    LT BkFac           CARE B+/Stable 75      Revised from
                                                                                CARE BB-
(Issuer not Cooperating; Based on best available information)
Boss Pharma                           LT Bk Fac          CARE B         40      -
(Issuer not Cooperating; Based on best available information)
Canara Robeco Asset Management Co. LtdCanara Robeco      -              -       Withdrawn
                                      Capital Protection
                                      Oriented Fund – Series 7
Chandrawati Hospitality And Tourism   LT Bk Fac          CARE B-/Stable 140     Revised from
                                                                                CARE B/ Stable
Corona Bus Manufacturers Pvt Ltd      LT Bk Fac          CARE D         85      Revised from
                                                                                CARE B-/
                                                                                Stable
(Issuer not Cooperating; Based on best available information)
Dreamz Overseas Pvt Ltd               LT Bk Fac          CARE B+        60      -
(Issuer not cooperating ; Based on best available information)
Fitech Equipments (India) Pvt Ltd     LT Bk Fac          CARE BB+       15      Reaffirmed
Reaffirmed
Fitech Equipments (India) Pvt Ltd     Proposed Long/ST   CARE BB+/A4+   35      Reaffirmed
                                      BkFac
Reaffirmed
Goel Traders                          LT Bk Fac          CARE BB/Stable 20      Assigned
Greenland Automobiles Pvt Ltd         LT Bk Fac          CARE BB        117.5   -
(Issuer not cooperating;Based on best available information)
J C Antiques And Crafts               LT / ST Bk Fac     CARE BB+/A4+   85      Assigned
Assigned
Jammu Motors Pvt Ltd                  LT Bk Fac          CARE B+        83      -
(Issuer not cooperating, Based on best available information)
Jesons Industries Ltd                 LT Bk Fac          -              -       -
(Reaffirmed at CARE A-; Stable and withdrawn)
Jfk International Ltd                 LT/ST Bk Fac       CARE BB-/A4    200     -
                                                         (Double B
                                                         Minus/Outlook: /A Four)
(Revised from CARE BB-; Stable/CARE A4; Issuer not cooperating (Double B Minus; Outlook:
Stable/A Four; Issuer not cooperating)
Latala Construction Company           LT Bk Fac          CARE           60      Reaffirmed
                                                         BB/(Double B
Latala Construction Company           LT/ST BkFac        CARE BB/A4     340     Reaffirmed
                                                         (Double B
Lodhi Rajpoot Ice And Cold Storage PvtLT Bk Fac          CARE B+        60.5    Reaffirmed
Ltd
Magadh Precision Equipment Ltd        LT /Short term Bk  CARE D/D       350     -
                                      Fac
(Issuer not Cooperating; Based on best available information)
Nahar Poly Films Ltd                  LT Bk Fac          CARE A-        2320    -
(Placed on Credit Watch with Developing Implications)
Nikka Mal Pyare Lal Jain              LT Bk Fac          CARE B/ Stable 110     Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating; ; Issuer not cooperating)
Nutech Jetting Equipments India Pvt   LT Bk Fac          CARE B         148     -
(Issuer not cooperating; Based on best available information)
Nutech Jetting Equipments India Pvt   LT /ST Bk Fac      CARE B/A4      12.5    -
(Issuer not cooperating; Based on best available information)
Onkar International Pvt Ltd           LT/ST Bk Fac       CARE B+/A4     180     Revised from
                                                                                CARE BB-/ A4
(Issuer not cooperating; Based on best available information)
P.G. Ice And Cold Storage Pvt Ltd     LT Bk Fac          CARE B/Stable  71.9    Reaffirmed
Patanjali Ayurved Ltd                 LT Bk Facility     -              -       -
(Reaffirmed at CARE A- (Single A Minus) (Credit watch with Developing Implications) and
Withdrawn)
Perfect Turners                       LT Bk Fac          -              -       Withdrawn
Perfect Turners                       LT/ST Bk Fac       CARE BB/Stable 80      Reaffirmed
                                                         / A4
Pioneer Embroideries Ltd              LT Bk Fac          CARE B/Stable  150     Assigned
Purvanchal Agrico Pvt Ltd             LT Bk Fac          CARE B+        70      -
(Issuer Not Cooperating Based on best available information)
Rama Arts & Exports                   LT/ST Bk Fac       -              -       -
(Reaffirmed at CARE BB-;Stable/CARE A4 (Double BMinus; Outlook: Stable/ A Four) and withdrawn)
Rama Arts & Exports                   LT Bk Fac          -              -       -
(Reaffirmed at CARE BB-;Stable (Double B Minus;Outlook: Stable) and withdrawn)
Rohit Agro Seeds Sales Corporation    LT Bk Fac          CARE B+; Stable45      Assigned
Rosha Alloys Pvt Ltd                  LT Bk Fac          CARE B+        75      -
(Issuer not cooperating ; Based on best available information)
S. Selladurai Nadar & Co              Long -term Bk Fac  CARE B+        50      Revised from
                                                                                CARE
                                                                                BB-/Stable
(Issuer not cooperating ; Based on best available information)
S. Selladurai Nadar Hotel & Catering  Long -term Bk Fac  CARE B+        50      Revised from
World                                                                           CARE
                                                                                BB-/Stable
(Issuer not cooperating ; Based on best available information)
Sangam Rice Pvt Ltd                   LT Bk Fac          CARE B         55      -
(Issuer not cooperating ; Based on best available information)
Sapcon Steels Pvt Ltd                 LT Bk Fac          CARE B+        40      -
(Issuer not cooperating ; Based on best available information)
Shivakriti International Ltd          LT Bk Fac          CARE BB+/,     280     Revised from
                                                         ISSUER NOT             CARE BBB-/
                                                         COOPERATING  (Double B Stable
(Issuer not cooperating ; Based on best available information)
Shivakriti International Ltd          LT/ST BkFac        CARE BB+/A4+   1290    Revised from
                                                                                CARE BBB-;
                                                                                Stable / A3
(Issuer not cooperating ; Based on best available information)
Shivam Hospital                       LT Bk Fac          CARE BB+/Stable125     Assigned
Shivangan Food And Pharma Products PvtLT Bk Fac          CARE B+ /      128.6   Assigned
Ltd                                                      Stable
Shree H.D. Overseas                   LT Bk Fac          CARE B+/ Stable85.7    -
(Issuer not cooperating; Based on best available information)
Shreeram Fibres India Pvt Ltd         LT Bk Fac          -              -       -
(Reaffirmed at CARE BB; Stable and Withdrawn)
Smita Conductors Pvt Ltd              LT Bk Fac          CARE A/Stable  400     Reaffirmed
Solan Spinning Mills Pvt Ltd          LT Bk Fac          CARE B         85      Revised from
                                                                                CARE B+/
                                                                                Stable
(Issuer not cooperating; Based on best available information)
Srg Aluminium Pvt Ltd                 LT Bk Fac          CARE B+        119.4   Assigned
Suyash Engineering Company            LT Bk Fac          -              -       Withdrawn
Swaraj Sulz Pvt Ltd                   LT Bk Fac          CARE B+/Stable 55.8    Revised from
                                                                                CARE BB-
(Issuer not cooperating; ; Stable (Double B Minus; Outlook Stable: Issuer not cooperating; on
the basis of best available information)
Tab Capital Ltd                       LT Bk Fac          -              -       Withdrawn
Titagarh Wagons Ltd                   LT Bk Fac          CARE           2000    Assigned
                                                         BBB+/Stable
Titagarh Wagons Ltd                   LT/ST BkFac        CARE           10000   Assigned
                                                         BBB+/Stable /
                                                         A2
Vara Infotech Pvt Ltd                 LT Bk Fac – TL     -              -       Withdrawn
Vrs Foods Ltd                         LT Bk Fac – TL     -              -       Reaffirmed at
                                                                                CARE BB+
(Reaffirmed at CARE BB+;Stable; ISSUER NOT COOPERATING and withdrawn)
Vrs Foods Ltd                         LT Bk Fac (Fund    -              -       Reaffirmed at
                                      Based-CC)                                 CARE BB+
(Reaffirmed at CARE BB+;Stable; ISSUER NOT COOPERATING and withdrawn)
Wondervalue Realty Developers Pvt Ltd LT Bk Fac – Fund   CARE D         2800    Reaffirmed
                                      Based
Wondervalue Realty Developers Pvt Ltd LT Bk Fac – Non    CARE D         200     Reaffirmed
                                      fund Based

--------------------------------------------------------------------------------------------
$: 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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