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CARE ratings for Indian debt instruments-Oct 5

    Oct 5  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of October 1,and October 3 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Ahammed Roller Flour Mills Pvt Ltd    ST Bk Fac          CARE A4+       201     Reaffirmed
Air Control And Chemical Engineering  ST Bk Fac          CARE A3        117.5   Revised from
Co. Ltd                                                                         CARE A4+
(Enhanced from 8.90 Crore)
Balmer Lawrie & Co. Ltd               ST Bk Fac          CARE A1+       600     Reaffirmed
Bhardwaj Construction Company Pvt Ltd ST Bk Fac          CARE A4        90      Reaffirmed
                                                                                and removed
                                                                                from INC
C. Doctor And Company Pvt Ltd         ST Bk Fac          CARE A4        26.5    Reaffirmed
Core Chemicals (Mumbai) Pvt Ltd       ST BkFac           CARE A4;       37.2
(Issuer Not Cooperating)
Deep Industries Ltd. (Formerly Known AST Bk Fac          CARE A1        91.7    Assigned
Deep Ch4 Ltd)
Dream Weaver Pvt Ltd                  ST Bk Fac          CARE A4        70      Reaffirmed
G.C. Threads Pvt Ltd                  ST Bk Fac          CARE A3+       100     Assigned 
(Enhanced from 7.50 Crore)                                                      Reclassification
                                                                                of rated
                                                                                facilities
G.C. Threads Pvt Ltd                  ST Bk Fac          CARE A3+       2.5     Revised from
                                                                                CARE A3; and
                                                                                removed from INC
(Issuer Not Cooperating) /(Reduced from 0.55 Crore)
G.C. Spintex Ltd                      ST Bk Fac          -              0       Withdrawn#
#CARE has withdrawn the rating assigned to the remaining Long-term and Short-term bank
facilities of G.C. Spintex Limited,
Gaurav Contracts Co.                  ST Bk Fac          CARE A4;       70
(Issuer Not Cooperating)
Ghousia Food Products Pvt Ltd         ST BkFac           CARE A4;       120
(Issuer Not Cooperating)
Gujarat State Petroleum Corporation   ST Bk Fac          -              -       Reaffirmed at
Ltd                                                                            ‘CARE A1 and
                                                                                ‘Withdrawn’
Hinduja Housing Finance Ltd           CP                 CARE A1+       1500    Reaffirmed
Integrated Fire Protection Pvt Ltd    ST Bk Fac          CARE A4+       29.9    Reaffirmed
Jagrati Trade Services Pvt Ltd        ST Bk Fac          CARE A4;       44
(Issuer Not Cooperating)
Manjushree Tea India Pvt Ltd          ST BkFac           CARE A4;       2
(Issuer Not Cooperating)
Nemi Chem                             STFac              CARE A4        40      Assigned
                                                                                re
                                                                                classification
                                                                                of rated
                                                                                facilities and
                                                                                removed from INC
(Enhanced from 0.50 Crore)
Nemi Chem                             STFac              CARE A4        120     Reaffirmed
                                                                                and removed
                                                                                from INC
Network18 Media & Investments Ltd     CP Issue           CARE A1+       15000   Reaffirmed
Nirlep Appliances Pvt Ltd             ST Bk Fac          CARE A3        40      Reaffirmed
Northern Arc 2020 Gl                  Series A PTC       CARE A2 (SO)   289.7   Assigned
Berlin
(Originator: Indel Money Pvt Ltd
(Impl)
Pancham Jewellers Pvt Ltd             ST Bk Fac          CARE D;        10
(Issuer Not Cooperating)
Pee Gee Fabrics Pvt Ltd               ST BkFac           CARE A3        83      Reaffirmed
Peekay Roller Flour Mills             ST Bk Fac          CARE A4+       312.5   Reaffirmed
Power Finance Corporation Ltd         ST Borrowing       CARE A1+       -       Reaffirmed
                                      Programme for
                                      FY-19*
*To be withdrawn subject to receipt of independent confirmation
Power Finance Corporation Ltd         CP Issue for FY19* CARE A1+       -       Reaffirmed
*To be withdrawn subject to receipt of independent confirmation
Power Finance Corporation Ltd         ST Borrowing       CARE A1+       -       Reaffirmed
                                      Programme for
                                      FY-18*
*To be withdrawn subject to receipt of independent confirmation
Power Finance Corporation Ltd         ST Borrowing       CARE A1+       -       Reaffirmed
                                      Programme for
                                      FY20*
*To be withdrawn subject to receipt of independent confirmation
Power Finance Corporation Ltd         CP issue for FY20* CARE A1+       -       Reaffirmed
*To be withdrawn subject to receipt of independent confirmation
Power Finance Corporation Ltd         ST market          CARE A1+       50000   Reaffirmed
                                      borrowing
                                      programme for FY21
Power Finance Corporation Ltd         CP issue for FY21  CARE A1+       150000  Reaffirmed
Precision Mass Products Pvt Ltd       ST Bk Fac          CARE A4        18.5    Reaffirmed
Rachana Enterprises                   ST Bk Fac          CARE A4        25
(Issuer Not Cooperating)
Radharani Himghar Pvt Ltd             ST Bk Fac          CARE A4        3       Reaffirmed
Rc Golden Granites Pvt Ltd            ST Bk Fac          CARE A4        89      Reaffirmed
                                                                                and removed
                                                                                from INC
Rpv Exports Pvt Ltd                   ST Bk Fac          CARE A4;       50
(Issuer Not Cooperating)
S.S. Agro                             ST Bk Fac          CARE D;        50
(Issuer Not Cooperating)
S.S. Overseas                         ST Bk Fac          CARE D;        50
(Issuer Not Cooperating)
Safe And Secure Logistics Pvt Ltd     ST Bk Fac          CARE A4;       5       -
(Issuer Not Cooperating)
Subrata Kundu Construction Company PvtST Bk Fac          CARE A4;       35
Ltd
(Issuer Not Cooperating)
The South Indian Bank Ltd             CDs                CARE A1+       75000   Reaffirmed
Tv18 Broadcast Ltd                    CP                 CARE A1+       7500    Reaffirmed
Yuken India Ltd                       ST Bk Fac          CARE A3        70      Reaffirmed
 
 
LONG TERM RATINGS:
-------------------    
Acecon Vitrified Pvt Ltd              LT BkFac           CARE BBB-;     668.5   Revised from
                                                         Stable                 CARE BB+;
                                                                                Stable
(Reduced from 78.21 Crore)
Acecon Vitrified Pvt Ltd              LT / ST Bk Fac     CARE BBB-;     77.4    Revised from
                                                         Stable /CARE A3        CARE BB+;
                                                                                Stable /CARE A4+
Adeline Pharma Pvt Ltd                LT Bk Fac@         CARE A (CE);   200     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
Ahammed Roller Flour Mills Pvt Ltd    LT Bk Fac          CARE BB+;      50      Reaffirmed
                                                         Stable
Air Control And Chemical Engineering  LT Bk Fac          CARE BBB-;     108     Revised from
Co. Ltd                                                  Stable                 CARE BB+;
                                                                                Stable
(Reduced from 11.46 Crore)
Air Control And Chemical Engineering  LT / ST Bk Fac     CARE BBB-;     200     Revised from
Co. Ltd                                                  Stable /CARE A3        CARE A4+
(Enhanced from 7.90 Crore)
Air Control And Chemical Engineering  LT / ST Bk Fac     CARE BBB-;     140     Revised from
Co. Ltd                                                  Stable /CARE A3        CARE BB+;
                                                                                Stable /CARE A4+
Amul Cotton Industries                LT Bk Fac          -              -       Reaffirmed at
                                                                                ‘CARE B+;
                                                                                Stable and
                                                                                Withdrawn
Ananta Procon Pvt Ltd                 LT/ Shortterm Bk   CARE BB;       150
                                      Fac                Stable/CARE A4;
(Issuer Not Cooperating)
Ananta Procon Pvt Ltd                 LT BkFac           CARE BB;       90
                                                         Stable;
(Issuer Not Cooperating)
Arya Motors                           LT Bk Fac          CARE C; Stable;140     Revised from
                                                                                CARE B+;
                                                                                Stable;
(Issuer Not Cooperating)
Aseem Infrastructure Finance Ltd      LT / STBk Fac      CARE AA;       20000   Assigned
                                                         Stable /CARE
                                                         A1+
Balmer Lawrie & Co. Ltd               LT Bk Fac          CARE AA+;      112.5   Reaffirmed
                                                         Stable
(reduced from 12.50 Crore)
Balmer Lawrie & Co. Ltd               LT/STBk Fac        CARE AA+;      950     Reaffirmed
                                                         Stable/CARE A1+
Belstar Microfinance Ltd (Formerly    LT Bk Fac          CARE A+; Stable1036.4  Reaffirmed
Known As Belstar Microfinance Pvt Ltd)
(reduced from 2,000 Crore)
Bhardwaj Construction Company Pvt Ltd LT Bk Fac          CARE BB-;      15      Reaffirmed
                                                         Stable                 and removed
                                                                                from INC
Brahmmas Agro Industries Pvt Ltd      LT Bk Fac          CARE BB;       180     Reaffirmed
                                                         Stable
(Reduced from 25.00 Crore)
C. Doctor And Company Pvt Ltd         LT Bk Fac          CARE B-;       20      Reaffirmed
                                                         Stable
C. Doctor And Company Pvt Ltd         LT/ ST Bk Fac      CARE B-;       167     Reaffirmed
                                                         Stable /CARE A4
(reduced from 20.20 Crore)
Ch. Veeraraghavulu Construction Pvt   LT Bk Fac          CARE BB+;      120     Reaffirmed
Ltd                                                      Stable
(Enhanced from 6.00 Crore)
Ch. Veeraraghavulu Construction Pvt   LT / ST BkFac      CARE BB+;      180     Reaffirmed
Ltd                                                      Stable /CARE
                                                         A4+
(Reduced from 24.00 Crore)
Core Chemicals (Mumbai) Pvt Ltd       LT BkFac           CARE BB-;      100     Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(Issuer Not Cooperating)
Deep Industries Ltd. (Formerly Known ALT Bk Fac          CARE A; Stable 929.6   Assigned
Deep Ch4 Ltd)
Deep Industries Ltd. (Formerly Known ALT / ST Bk Fac     CARE A; Stable 775     Assigned
Deep Ch4 Ltd)                                            /CARE A1
Dhruvi Pharma Pvt Ltd                 LT Bk Fac@         CARE A (CE);   170     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
Dipti Diamonds & Jewellery Pvt Ltd    LT Bk Fac          CARE B; Stable 40      Assigned
Dipti Diamonds & Jewellery Pvt Ltd    LT Bk Fac          CARE B; Stable 80      Reaffirmed
(Reduced from 12.00 Crore)
Focus Medisales Pvt Ltd               LT Bk Fac@         CARE A (CE);   200     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
G.C. Spintex Ltd                      LT Bk Fac          -              0       Withdrawn#
#CARE has withdrawn the rating assigned to the remaining Long-term and Short-term bank
facilities of G.C. Spintex Limited,
with immediate effect since there
with immediate effect since there
G.C. Spintex Ltd                      LT Bk Fac (FBL)    CARE BBB;      49.5    Revised from
                                                         Stable $               CARE BBB-;
                                                                                Stable; and
                                                                                removed from INC
Issuer Not Cooperating/(reduced from 5.00 Crore)/$The combined business and financial risk
profiles of G.C. Spintex Limited (GCS), G.C. Threads Private Limited (GCT; rated CARE
BBB; Stable/ CARE A3+) and G.C. Fibres Limited (GCF) have been considered as the three companies
(together referred to as ‘Group’) have operational and financial linkages, same promoters and a
common management team
G.C. Threads Pvt Ltd                  LT Bk Fac          -              0       Withdrawn #
#CARE has withdrawn the rating assigned to the Long term bank facility (Term Loan) of G.C.
Threads Private Limited, with immediate effect since there is no amount outstanding under the
facility
G.C. Threads Pvt Ltd                  LT Bk Fac (FBL)    CARE BBB;      97.5    Revised from
                                                         Stable $               CARE BBB-;
                                                                                Stable; and
                                                                                removed from INC
(Issuer Not Cooperating)/(Enhanced from 5.40 Crore)/The combined business and financial risk
profiles of G.C. Spintex Limited (GCS; rated CARE BBB; Stable), G.C. Threads Private
Limited (GCT) and G.C. Fibres Limited (GCF) have been considered as the three companies
(together referred to as ‘Group’) have operational and financial linkages, same promoters and a
common management team
Garg & Company_(Ludhiana)             LT Bk Fac          CARE D;        140
(Issuer Not Cooperating)
Gaurav Contracts Co.                  LT Bk Fac          CARE B+; Stable100
(Issuer Not Cooperating)
Ghousia Food Products Pvt Ltd         LT BkFac           CARE B;        200     Revised from
                                                         Stable;                CARE B+;
                                                                                Stable;
(Issuer Not Cooperating)
Gopal Ice Factory & Chilling Centre   LT Bk Fac          -              -       Reaffirmed at
                                                                                ‘CARE B+;
                                                                                Stable and
                                                                                Withdrawn
Gr Akkalkot Solapur Highway Pvt Ltd   LT Bk Fac- BG #    -              -       Withdrawn
# CARE has withdrawn the ratings assigned to the bank guarantee facilities of GR Akkalkot
Solapur Highway Private Limited (GASHPL) with immediate effect as the project specific
Performance Bank Guarantee has been cancelled and there is no outstanding under the said
facility as on date.
Gr Akkalkot Solapur Highway Pvt Ltd   LT Bk Fac- TL      CARE A; Stable 3340    Reaffirmed
Gujarat State Petroleum Corporation   LT Bk Fac          -              -       Reaffirmed at
Ltd                                                                            ‘CARE A;
                                                                                Stable’ and
                                                                                Withdrawn’
Gypsum Structural India Pvt Ltd       LT Bk Fac          CARE BBB-;     20      Revised from
                                                         Stable                 CARE BB+;
                                                                                Positive
outlook revised from positive
Gypsum Structural India Pvt Ltd       Long/ST BkFac      CARE BBB-;     440     Revised from
                                                         Stable/CARE A3         CARE BB+;
                                                                                Positive/ CARE
                                                                                A4+
outlook revised from positive
Him Cylinders Ltd                     LT Bk Fac          CARE D         180
(Issuer Not Cooperating)
Him Valves And Regulators Pvt Ltd     LT Bk Fac          CARE D         181.4
(Issuer Not Cooperating)
Hinduja Housing Finance Ltd           LT Bk Fac          CARE AA-;      17638.4 Reaffirmed
                                                         Stable
Hinduja Housing Finance Ltd           LT/STBk Fac        CARE AA-;      1900    Reaffirmed
                                                         Stable/CARE
                                                         A1+ (
Integrated Fire Protection Pvt Ltd    LT Bk Fac          CARE BB+;      54.2    Reaffirmed
                                                         Stable
(reduced from 5.72 Crore)
Jagrati Trade Services Pvt Ltd        Long/ST BkFac      CARE B-;       5       Revised from
                                                         Stable/CARE A4;        CAREB;
                                                                                Stable/CARE A4;
(Issuer Not Cooperating)
Keimed Pvt Ltd                        LT Bk Fac          CARE A; Stable 583.1   Reaffirmed
(reduced from 74.38 Crore)
Ksr Infracon Pvt Ltd                  Long/ST Bk Fac     CARE BB /CARE  400
                                                         A4;
(Issuer Not Cooperating)
Ksr Infracon Pvt Ltd                  LT Bk Fac          CARE BB;       100
(Issuer Not Cooperating)
Lucky Pharmaceuticals Pvt Ltd         LT Bk Fac@         CARE A (CE);   120     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
Maheshwari Agro                       LT/ Shortterm Bk   CARE B; Stable 60      Revised from
                                      Fac                /CARE A4;              CARE B+;
                                                                                Stable/ CARE A4;
(Issuer Not Cooperating)
Maheshwari Agro                       LT Bk Fac          CARE B; Stable;8.8     Revised from
                                                                                CARE B+;
                                                                                Stable;
(Issuer Not Cooperating)
Manjushree Tea India Pvt Ltd          LT BkFac           CARE B-;       59.5    Revised From
                                                         Stable;                CARE B+;
                                                                                Stable
(Issuer Not Cooperating)
Medihauxe Healthcare Pvt Ltd          LT Bk Fac@         CARE A (CE);   60      Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
Medihauxe Pharma Pvt Ltd              LT Bk Fac@         CARE A (CE);   160     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
Meher Distributors Pvt Ltd            LT Bk Fac@         CARE A (CE);   400     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
Msv Laboratories Pvt Ltd              LT Bk Fac          CARE D;        212.5
(Issuer Not Cooperating)
Nanibala Cold Storage Pvt Ltd         LT Bk Fac          CARE B;        70      Revised from
                                                         Stable;                CARE B+;
                                                                                Stable
(Issuer Not Cooperating)
Neelkanth Drugs Pvt Ltd               LT Bk Fac@         CARE A (CE);   450     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
Nemi Chem                             LT BkFac           CARE BB-;      25      Revised from
                                                         Stable                 CARE B+;
                                                                                Stable; and
                                                                                removed from INC
(Issuer Not Cooperating)
Network18 Media & Investments Ltd     LT/ST Bk Fac       CARE AAA;      7500    Reaffirmed
                                                         Stable/CARE A1+
(enhanced from 500.00 Crore)
Nirlep Appliances Pvt Ltd             LT Bk Fac          CARE BBB-;     163.5   Reaffirmed
                                                         Stable
(enhanced from Rs.15.00 Crore)
Om Communication                      LT Bk Fac          -              -       Reaffirmed at
                                                                                ‘CARE B+;
                                                                                Stable and
                                                                                Withdrawn
Oriental Bank Of Commerce             Unsecured Non-     -              -       Withdrawn
                                      Convertible
                                      Subordinated Perpetual Tier-I Bonds (Innovative Perpetual
Debt Instruments)
Oriental Bank Of Commerce             Unsecured          -              -       Withdrawn
                                      Redeemable Non-
                                      Convertible Subordinated Upper Tier-II Bonds
Oriental Bank Of Commerce             Unsecured          -              -       Withdrawn
                                      Redeemable Non-
                                      Convertible Subordinated Lower Tier-II Bonds
Oriental Bank Of Commerce             Unsecured          -              -       Withdrawn
                                      Redeemable Non-
                                      Convertible Fully Paid up Basel III Compliant Tier-2 Bonds
Oriental Bank Of Commerce             Unsecured          -              -       Withdrawn
                                      Redeemable Non-
                                      Convertible Fully Paid up Basel III Compliant Tier-2 Bonds
Oriental Bank Of Commerce             Unsecured          -              -       Withdrawn
                                      Redeemable Non-
                                      Convertible Fully Paid up Basel III Compliant Tier-2 Bonds
Oriental Bank Of Commerce             Perpetual Bonds    -              -       Withdrawn
Palepu Pharma Pvt Ltd                 LT Bk Fac@         CARE A (CE);   750     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
Pancham Jewellers Pvt Ltd             LT Bk Fac          CARE D;        260
(Issuer Not Cooperating)
Pee Gee Fabrics Pvt Ltd               LT BkFac           CARE BBB-;     194.7   Reaffirmed;
                                                         Negative
Outlook revised from Stable to Negative /(reduced from Rs.20.83 crore Crore)
Peekay Roller Flour Mills             LT Bk Fac          CARE BB+;      79.5    Reaffirmed
                                                         Stable
(Reduced from 9.07 Crore)
Popular Motor Corporation             LT Bk Fac          CARE BBB-;     200     Reaffirmed
                                                         Stable
Power Finance Corporation Ltd         LT Borrowing       CARE AAA;      -       Reaffirmed
                                      Programme for FY-13Stable
Power Finance Corporation Ltd         LT Borrowing       CARE AAA;      -       Reaffirmed
                                      Programme for FY-14Stable
Power Finance Corporation Ltd         LT debt            CARE AAA;      -       Reaffirmed
                                      instruments –      Stable
                                      Subordinate debt for FY-14
Power Finance Corporation Ltd         LT Borrowing       CARE AAA;      -       Reaffirmed
                                      Programme for FY-15Stable
Power Finance Corporation Ltd         LT Borrowing       CARE AAA;      -       Reaffirmed
                                      Programme for FY-16Stable
Power Finance Corporation Ltd         LT Borrowing       CARE AAA;      -       Reaffirmed
                                      Programme for FY-17Stable
Power Finance Corporation Ltd         LT Borrowing       CARE AAA;      -       Reaffirmed
                                      Programme for FY-18Stable
Power Finance Corporation Ltd         LT Borrowing       CARE AAA;      -       Reaffirmed
                                      Programme for FY-19Stable
Power Finance Corporation Ltd         LT Borrowing       CARE AAA;      -       Reaffirmed
                                      Programme for FY20 Stable
Power Finance Corporation Ltd         LT market          CARE AAA;      700000  Reaffirmed
                                      borrowing          Stable
                                      programme for FY21
Precision Mass Products Pvt Ltd       LT Bk Fac*         CARE BB; Stable58.2    Reaffirmed
(Enhanced from 5.68 Crore) /*CARE has withdrawn the rating assigned to the one of the term loan
of Precision Mass Products Private Limited with immediate effect, as the company has repaid the
aforementioned term loan in full and there is no amount outstanding under the loan as on date.
Precision Mass Products Pvt Ltd       LT / ST Bk Fac     CARE BB;       25      Reaffirmed
                                                         Stable /CARE A4
(Enhanced from 1.50 Crore)
Pyramid Finserve Pvt Ltd              Proposed LT BkFac  CARE BB+;      100     Assigned
                                                         Stable
Rachana Enterprises                   LT / ST Bk Fac     CARE B+;       30      Revised from
                                                         Stable /CARE           CARE BB;
                                                         A4;                    Stable / CARE A4
(Issuer Not Cooperating)
Radharani Himghar Pvt Ltd             LT Bk Fac          CARE B+; Stable73.4    Reaffirmed
(reduced from 7.63 Crore)
Rawassa Construction                  LT / ST Bk Fac     CARE BB-;      300     Reaffirmed
                                                         Stable /CARE A4
Rmg Developers Pvt Ltd                Debentures         CARE D;        500     Revised from
                                                                                CARE B+;
                                                                                Stable;
(Issuer Not Cooperating)
S.S. Agro                             LT Bk Fac          CARE D;        200
(Issuer Not Cooperating)
S.S. Overseas                         LT Bk Fac          CARE D;        200
(Issuer Not Cooperating)
Safe And Secure Logistics Pvt Ltd     LT Bk Fac          CARE B;        190     Revised from
                                                         Stable;                CARE B+;
                                                                                Stable;
(Issuer Not Cooperating)
Sanjeevani Pharma Distributors Pvt LtdLT Bk Fac@         CARE A (CE);   250     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
Shiw Prasad Jyoti Prasad              LT BkFac           CARE BB-;      75      Reaffirmed
                                                         Stable
(reduced from 8.00 Crore)
Shree Ganga Finance Pvt Ltd           LT Bk Fac          -              -       Withdrawn
                                      (Proposed)
Shrikalyani Agritech Pvt Ltd          LT BkFac           CARE B-;       103.1   Revised From
                                                         Stable;                CARE B;
                                                                                Stable;
(Issuer Not Cooperating)
Smart Value Homes (Boisar) Pvt Ltd    LT Bk Fac- TL      CARE AA; Stable300     Assigned
Smt Atpl Associates                   LT Bk Fac          CARE BB+;      1600    Reaffirmed
                                                         Stable
(Enhanced from 15.00 Crore)
Sparsh Fabrics Pvt Ltd                LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB;
                                                                                Stable; and
subsequently withdrawn
(Issuer Not Cooperating)
Srinivasa Medisales Pvt Ltd           LT Bk Fac@         CARE A (CE);   280     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’) 
Sterling Ceramics Pvt Ltd             Long               -              -       Reaffirmed at
                                      -term/Shortterm Bk                        CARE A (CE);
                                      Fac                                       Stable/ CARE A1
                                                                              (CE) and Withdrawn
(Issuer Not Cooperating)
Subrata Kundu Construction Company PvtLT Bk Fac          CARE B;        35
Ltd
(Issuer Not Cooperating)
Sunex Stones Pvt Ltd                  LT / ST Bk Fac     CARE B+;       210     Reaffirmed
                                                         Stable /CARE A4
Swathi Rice Mill Company Pvt Ltd      LT Bk Fac          CARE B;        50.5    Revised from
                                                                                CARE B+;
(Issuer Not Cooperating)
The South Indian Bank Ltd             Lower Tier II      -              -       Withdrawn
                                      Bonds
The South Indian Bank Ltd             Tier II Bonds      CARE A;        3000    Revised
                                      (Basel III         Negative               fromCARE A+;
                                      Compliant)-I #                            Negative
#Tier II Bonds under Basel III are characterised by a ‘Point of Non-Viability’ (PONV) trigger
due to which the investor may suffer a loss of principal. PONV will be determined by the Reserve
Bank of India (RBI) and is a point at which the bank may no longer remain a going concern on its
own unless appropriate measures are taken to revive its operations and thus, enable it to
continue as a going concern. In addition, the difficulties faced by a bank should be such that
these are likely to result in financial losses and raising the Common Equity Tier I capital of
the bank should be considered as the most appropriate way to prevent the bank from turning
non-viable. 
The South Indian Bank Ltd             Tier II Bonds      CARE A;        4900    Revised
                                      (Basel III         Negative               fromCARE A+;
                                      Compliant)-II #                           Negative
#Tier II Bonds under Basel III are characterised by a ‘Point of Non-Viability’ (PONV) trigger
due to which the investor may suffer a loss of principal. PONV will be determined by the Reserve
Bank of India (RBI) and is a point at which the bank may no longer remain a going concern on its
own unless appropriate measures are taken to revive its operations and thus, enable it to
continue as a going concern. In addition, the difficulties faced by a bank should be such that
these are likely to result in financial losses and raising the Common Equity Tier I capital of
the bank should be considered as the most appropriate way to prevent the bank from turning
non-viable. 
The South Indian Bank Ltd             Tier II Bonds      CARE A;        5000    Revised
                                      (Basel III         Negative               fromCARE A+;
                                      Compliant)-III #                          Negative
#Tier II Bonds under Basel III are characterised by a ‘Point of Non-Viability’ (PONV) trigger
due to which the investor may suffer a loss of principal. PONV will be determined by the Reserve
Bank of India (RBI) and is a point at which the bank may no longer remain a going concern on its
own unless appropriate measures are taken to revive its operations and thus, enable it to
continue as a going concern. In addition, the difficulties faced by a bank should be such that
these are likely to result in financial losses and raising the Common Equity Tier I capital of
the bank should be considered as the most appropriate way to prevent the bank from turning
non-viable. 
Tv18 Broadcast Ltd                    LT/ST Bk Fac       CARE AAA;      7500    Reaffirmed
                                                         Stable/CARE A1+
Varanasi Sangam Expressway Pvt Ltd    LT BkFac           CARE A; Stable 9920    Reaffirmed
Vardhman Pharma Distributors Pvt Ltd  LT Bk Fac@         CARE A (CE);   350     Reaffirmed
                                                         Stable
@ backed by the unconditional and irrevocable corporate guarantee provided by Keimed Private
Limited (rated ‘CARE A; Stable’)
Vasudev Khandsari Udyog               LT BkFac           CARE B-;       40      Revised from
                                                         Stable;                CARE B; Stable
(Issuer Not Cooperating)
Vishal Sales                          LT Bk Fac          CARE C; Stable;80      Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer Not Cooperating)
Wind World Wind Farms (Hindustan) Pvt LT Bk Fac          CARE B; Stable 2023.1  Reaffirmed
Ltd
Wisemore Advisory Pvt Ltd             NCD issue (Tranche CARE BB (CE);  2098    Reaffirmed
                                      I)#                Stable
# Credit enhancement in the form of pledge of unencumbered shares of Renew Power Private Limited
(RPPL, rated CARE A+; Stable, CARE A1+) 
Wisemore Advisory Pvt Ltd             NCD issue (Tranche CARE BB (CE);  653.5   Reaffirmed
                                      II)#               Stable
# Credit enhancement in the form of pledge of unencumbered shares of Renew Power Private Limited
(RPPL, rated CARE A+; Stable, CARE A1+)  
Yuken India Ltd                       LT Bk Fac          CARE BBB-;     140     Revised from
                                                         Stable                 CARE BBB;
                                                                                Negative
Otlook revised from Negative /(Reduced from 22.00 Crore)
--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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