October 31, 2018 / 6:40 AM / in 4 months

CARE ratings for Indian debt instruments-Oct 31

   Oct 31 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 30, 2018.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Blue Star Engineering & Electronics Ltd CP               Provisional    250     Revised from
                                                         CARE A1+ (SO)          CARE A1+(SO)
Krishnendu Bhakta                     ST Bk Fac          CARE A4        75      Assigned
Mangalam Ispat                        ST Fac             CARE A4        20      Assigned

N. S. Polymer                         ST Bk Fac          CARE A4        3.5     Assigned
Pruthvi Builders                      ST Bk Fac          CARE A4        75      Revised from
                                                                                CARE A4+
(Issuer not cooperating); Based on Best Available Information
Sri Manakula Vinayaga Educational TrusST Bk Fac          CARE A4        702     Reaffirmed
Vardeep Petro Chemical Pvt Ltd        ST Bk Fac          CARE A4        141.7   Reaffirmed
Varidhi Cotspin Pvt Ltd               ST Bk Fac          CARE A4        35      -
Issuer Not Co-operating; based on best available information
Western Heat And Forge Pvt Ltd        ST Bk Fac          CARE A3        200     Assigned


LONG TERM RATINGS:
-------------------
Anand Rice Mills                      LT Bk Fac          CARE BB+       390     Assigned
Bassaiya Steel Corporation            LT Bk Fac          CARE B         57.5    -
Issuer Not Co-operating; based on best available information
Bharat Financial Inclusion Ltd        NCDs               -              -       -
Bharat Financial Inclusion Ltd        CP                 -              -       -
Hindupur Steel & Alloys Pvt Ltd       LT Bk Fac          -              -       Withdrawn
Kamaljeet Singh Ahluwalia             LT Bk Fac          CARE A-        1000    Assigned
Kaypee Enterprises                    LT Bk Fac          CARE A-        1000    Assigned
Keya Foods International Pvt Ltd      LT Bk FacRupee TL  CARE BBB-      30      Assigned
Keya Foods International Pvt Ltd      LT Bk FacBG        CARE BBB-      0.4     Assigned
Keya Foods International Pvt Ltd      LT/ ST Bk Fac- CC  CARE BBB-/CARE 119.6   Assigned
                                                         A3
Khushbu Auto Finance Ltd.             LT Bk Fac          CARE A+(SO)    1150    Reaffirmed
Krishnendu Bhakta                     LT Bk Fac          CARE BB-       62      Assigned
Kusumgar Corporates Pvt Ltd           LT Bk Fac-TL       CARE BBB+      197.5   Reaffirmed
Kusumgar Corporates Pvt Ltd           LT/ST Bk Fac-Fund  CARE BBB+      235     Reaffirmed
                                      based/Non fund     /CARE A2;
                                      based
Leel Electricals Ltd                  LT Bk Fac          CARE D         4550    Revised from
                                                                                CARE BB
Leel Electricals Ltd                  LT/ST Bk Fac       CARE D         5950    Revised from
                                                                                CARE BB;
                                                                                Negative/
                                                                                CARE A4
Macaw Ifmr Capital 2017 (Originator:  Series A2 PTC      CARE A (SO)    10.2    Revised from
Annapurna Finance Pvt Ltd)                                                      CARE BBB (SO)
Macaw Ifmr Capital 2017 (Originator:  Series A1 PTC      CARE AA (SO)   28.5    Revised from
Annapurna Finance Pvt Ltd)                                                      CARE A (SO)
Mangalam Ispat                        LT Bk Fac          CARE B+        110     Assigned
Metecno (India) Pvt Ltd               LT Bk Fac          CARE BB-       246.1   -
Issuer Not Co-operating; based on best available information
Metecno (India) Pvt Ltd               LT/ST Bk Fac       CARE BB-/CARE  200     -
                                                         A4
Issuer Not Co-operating; based on best available information
N. S. Polymer                         LT Bk Fac          CARE B+        69      Assigned
New Habitat Housing Finance &         LT Bk Fac          CARE BBB-      500     Reaffirmed
Development Ltd
Nirankar Cottex                       LT Bk Fac          CARE BB-       116.4   Reaffirmed
Nk Power & Infrastructure Pvt Ltd     LT Bk Fac          CARE BB+       720     Assigned
Pruthvi Builders                      LT Bk Fac          CARE BB-       30      Revised from
                                                                                CARE BB
(Issuer not cooperating); Based on Best Available Information
Sidd’S Jewels India Llp               LT Bk Fac          CARE BBB       38.5    Reaffirmed
Sidd’S Jewels India Llp               Long/ST Bk Fac     CARE BBB/CARE  912.5   Reaffirmed
                                                         A3+
Sri Manakula Vinayaga Educational TrusLT Bk Fac          CARE BB-       214.5   Reaffirmed
Sunny Diamonds                        LT Bk Fac          -              -       Withdrawn
Vardeep Petro Chemical Pvt Ltd        LT Bk Fac          CARE BB        81.1    Reaffirmed
Varidhi Cotspin Pvt Ltd               LT Bk Fac          CARE BB        485     -
Issuer Not Co-operating; based on best available information
Varidhi Cotspin Pvt Ltd               LT / Shortterm Bk  CARE BB /CARE  75      -
                                      Fac                A4
Issuer Not Co-operating; based on best available information
Vivriti Asensio 010 2017 (Originator: Series A PTC       CARE AA- (SO)          Revised from
Annapurna Finance Pvt Ltd)                                                      CARE A- (SO)
Western Heat And Forge Pvt Ltd        LT Bk Fac          CARE BBB       265.8   Reaffirmed
Western Heat And Forge Pvt Ltd        LT/ST Bk Fac       CARE BBB/CARE  415     Reaffirmed/
                                                         A3                     Short term
                                                                                Rating Assigned
--------------------------------------------------------------------------------------------
$: 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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