October 8, 2018 / 9:51 AM / 2 months ago

CARE ratings for Indian debt instruments-Oct 8

    Oct 8 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of October 5, 2018.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------

SHORT TERM RATINGS:
-------------------
Abp Pvt Ltd                           ST BkFac           CARE A1+       1220    Reaffirmed
Abp Pvt Ltd                           CP (CP) issue#     CARE A1+       500     Reaffirmed
# the outstanding CP and sanctioned bank borrowing will not exceed the overall sanctioned
working capital limit of the company.
Ador Welding Ltd                      ST Bk Fac          CARE A1+       790     Reaffirmed

B. M. Foods                           ST Bk Fac          CARE A4        8       Reaffirmed
Carbon Edge Industries Ltd            ST Bk Fac          CARE A3        10      Reaffirmed
Classical Paradise Hotels And Resort  ST Bk Fac          CARE A3        433830  -
Ltd
Claystone Granito Pvt. Ltd.           ST Bk Fac          CARE A4+       44      -
ISSUER NOT COOPERATING
Crosslay Remedies Ltd                 ST Bk Fac          CARE A1        100     Revised from
                                                                                CARE A1+
Dish Tv India Ltd                     ST Bk Fac          CARE A1+       1900    Reaffirmed
Removed from credit watch and rating
Doosan Power Systems India Pvt Ltd    ST Bk Fac          CARE A1+ (SO)  1000    Revised from
                                                                                CARE A1 (SO)
Doosan Power Systems India Pvt Ltd    ST Bk Fac          CARE A1+ (SO)  1000    Revised from
                                                                                CARE A1 (SO)
Doosan Power Systems India Pvt Ltd    ST Bk Fac          CARE A1+ (SO)  182.7   Revised from
                                                                                CARE A1 (SO)
Doosan Power Systems India Pvt Ltd    ST Bk Fac          CARE A1+ (SO)  2400    Revised from
                                                                                CARE A1 (SO)
Doosan Power Systems India Pvt Ltd    ST Bk Fac          CARE A1+ (SO)  2000    Revised from
                                                                                CARE A1 (SO)
Essix Biosciences Ltd                 ST Bk Fac          CARE A4        70      Reaffirmed
(reduced from 10.00 Crore)
Five-Star Business Finance Ltd        ST Bk Fac          -              -       Withdrawn
Five-Star Business Finance Ltd        CP issue*          CARE A1        250     Reaffirmed
*outstanding NIL as on Sep 21, 2018
Gati Kausar India Ltd                 ST Bk Fac@         CARE A3+(SO)   5       Revised from
                                                                                CARE A2+
@ backed by the unconditional and irrevocable corporate guarantee provided by Gati Limited
(rated CARE BBB; Stable/CARE A3+)
Gati Ltd                              ST Bk Fac          CARE A3+       50      Downgraded
                                                                                from CARE A2+
Gopal Industries                      ST Bk Fac          CARE A4        70      Assigned
Greenply Industries Ltd               ST Bk Fac          CARE A1+       3200    -
Continues on credit watch with developing implications
Greenply Industries Ltd               CP Issue*          CARE A1+       250     -
*carved out of the sanctioned working capital limits,Continues on credit watch with developing
implications
Gujarat Industries Power Co. Ltd      ST Bk Fac          CARE A1+       4100    Reaffirmed
(reduced from Rs.532 crore Crore)
Havells India Ltd                     ST Bk Fac( (LC/BG))CARE A1+       6000    Reaffirmed
(enhanced from 415.25 CR)
Havells India Ltd                     ST Bk Fac (Buyers’ -              -       Withdrawn *
                                      Credit)
Himachal Baspa Power                  ST Bk Fac – Non    CARE A1+       4000    Reaffirmed
                                      Fund Based
(enhanced from Rs 374.00 crore Crore)
Himachal Baspa Power                  Proposed CP (CP)   CARE A1+       3000    Reaffirmed
                                      issue
(Rupees Three hundred crore Only Crore)
Jaigad Power Transco Ltd              ST Bk Fac NFB      CARE A1+       75      Reaffirmed
Jamipol Ltd                           ST BkFac           CARE A1+       10      Reaffirmed
Jk Tyre & Industries Ltd              ST Bk Fac          CARE A1+       15060.2 Revised from
                                                                                CARE A+
Jk Tyre & Industries Ltd              ST Bk Fac- CP      CARE A1+       2000    Reaffirmed
                                      issue
Jk Tyre & Industries Ltd              ST Bk Fac- CP      CARE A1+       9000    Reaffirmed
                                      issue*
*carved out of the sanctioned fund-based working capital limits of the company
Jsw Energy Ltd                        ST Bk Fac          CARE A1+       35970   Reaffirmed
(reduced from Rs 4652 crore Crore)
Jsw Energy Ltd                        CP Issue           CARE A1+       7000    Reaffirmed
Koneru Constructions Pvt Ltd          ST Bk Fac          CARE A4        85      Reaffirmed
Kuantum Papers Ltd                    ST Bk Fac          CARE A2+       715.5   Reaffirmed
(enhanced from Rs. 65.00 crore Crore)
Lokesh Advisory Pvt Ltd               ST Bk Fac          CARE A4        75      Assigned
M. Surya Narayana Reddy               ST Bk Fac          CARE A4        55      Revised from
                                                                                CARE A4+
Max Healthcare Institute Ltd          ST Bk Fac          CARE A1        7.6     Revised from
                                                                                CARE A1+
Medihauxe Healthcare Pvt Ltd          ST Bk Fac          CARE A3+ (SO)  20      Reaffirmed
Mercator Oil And Gas Ltd              ST Bk Fac          CARE A4 (SO)   1240    Revised from
                                                                                CARE A3 (SO)
Merino Industries Ltd                 ST Bk Fac          CARE A1+       1250    Reaffirmed
(enhanced from 85.00 CR)
Nagreeka Exports Ltd.                 ST Bk Fac          CARE A3        2093.7  Reaffirmed
Neutral Publishing House Ltd          ST Bk Fac          CARE A2+       75      Reaffirmed
Namdhari Rice And General Mills       ST Bk Fac          CARE D         15      -
ISSUER NOT COOPERATING
Oil India Ltd                         ST Fac             CARE A1+       24020.3 Reaffirmed
Precision Wires India Ltd             ST Bk Fac          CARE A1        5317.5  Reaffirmed
(enhanced from 346.75 CR)
Reliance Jio Infocomm Ltd             CP                 CARE A1+       250000  Reaffirmed
Repco Home Finance Ltd                CP                 CARE A1+       8000    Reaffirmed
Shaily Engineering Plastics Ltd       ST Bk Fac          CARE A2+       300     Reaffirmed
Shakti Energy Solutions Pvt Ltd       ST Bk Fac          CARE A2+ (SO)  4.5     Assigned
Shakti Pumps India Ltd                ST Bk Fac          CARE A2+       1000    Reaffirmed
(enhanced from Rs.82.00 crore Crore)
Shyam Metalics And Energy Ltd         ST Bk Fac          CARE A1+       3020    Reaffirmed
Shyam Sel And Power Ltd               ST Bk Fac          CARE A1+       3150    Reaffirmed
Sify Technologies Ltd                 ST Bk Fac          CARE A1+       630     Reaffirmed
Sify Technologies Ltd                 Proposed CP Issue  CARE A1+       500     Reaffirmed
Skm Egg Products Export (India) Ltd   ST Bk Fac          CARE A3        490     Reaffirmed
(enhanced from 44 Crore)
Smita Conductors Pvt Ltd              ST Bk Fac          CARE A1        3500    Reaffirmed
(Reduced from Rs.380Cr to Rs.350Cr Crore)
Sonal Fabricators Pvt Ltd             ST Bk Fac          CARE A4        25.2    Assigned
The Great Eastern Shipping Co. Ltd    ST BkFac (Buyer’s  -              -       Withdrawn
                                      credit)
Tata Power Solar Systems Ltd          CP &               CARE A1+ (SO)  4000    Reaffirmed
& Backed by unconditional irrevocable corporate guarantee by Tata Power Co. Limited (Rated CARE
AA, Stable)
Tata Power Solar Systems Ltd          Proposed CP%       CARE A1+(SO)   2000    Reaffirmed
% To be Backed by unconditional irrevocable corporate guarantee by Tata Power Co. Limited (Rated
CARE AA, Stable) The above rating is provisional and will b
Tata Teleservices (Maharashtra) Ltd   Non-Fund Based ST  CARE A1+       2090    -
                                      Bk Fac – BG/LC
Continues on Credit Watch With Developing Implications
Tata Teleservices (Maharashtra) Ltd   CP issue           CARE A1+       73500   -
Continues on Credit Watch With Developing Implications
Tata Teleservices Ltd                 Non-Fund Based ST  CARE A1+       7005    -
                                      Bk Fac – BG/LC
Continues on Credit Watch With Developing Implications
Tata Teleservices Ltd                 CP issue           CARE A1+       134750  -
Continues on Credit Watch With Developing Implications
Tvs Motor Co. Ltd                     ST BkFac           CARE A1+       4000    Reaffirmed
(enhanced from Rs.370 crore Crore)
Tvs Motor Co. Ltd                     CP                 CARE A1+       4000    Reaffirmed
Vee Kay Vikram And Company Llp        ST Bk Fac          CARE A3+       70      Reaffirmed
Vivanta Ceramic Pvt Ltd               ST Bk Fac          CARE A4        16      Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Gati Ltd                              Medium Term Fixed  CARE BBB       500     Downgraded
                                      Deposits                                  from CARE A-
Jk Tyre & Industries Ltd              Long/ ST           CARE A+        1400    Revised from
                                      instruments-Fixed                         CARE A+
                                      Deposit programme
Kuantum Papers Ltd                    LT/Medium-term     CARE A- (FD)   450     Reaffirmed
                                      Fixed deposits

LONG TERM RATINGS:
-------------------
Aadhar Housing Finance Ltd (Erstwhile LT Bk Fac          CARE AA        20900   Reaffirmed
Dhfl Vysya Housing Finance Ltd)
(enhanced from RS.790 crore Crore)
Aadhar Housing Finance Ltd (Erstwhile LT Bk Fac*         CARE AA+(SO)   34016.5 Reaffirmed
Dhfl Vysya Housing Finance Ltd)
(enhanced from Rs.2701.65 Crore)
*The ratings are based on credit enhancement in the form of a ‘Letter of Comfort’ issued by
Dewan Housing Finance Corporation Ltd. (DHFL; rated ‘CARE AAA; Stable’ in favour of AHFL’s
lenders.    
Aadhar Housing Finance Ltd (Erstwhile LT Bk Fac*         CARE AA+(SO)   12729   Reaffirmed
Dhfl Vysya Housing Finance Ltd)
*The ratings are based on credit enhancement in the form of a ‘Letter of Comfort’ issued by
Dewan Housing Finance Corporation Ltd. (DHFL; rated ‘CARE AAA; Stable’ in favour of AHFL’s
lenders.
Aakash Healthcare Pvt. Ltd.           LT Bk Fac          CARE BB+       1729    Reaffirmed
Aarish Solar Power Pvt Ltd            NCDs               CARE AA- (SO)  2955    Reaffirmed
(reduced from 300 Crore)
Aashman Energy Pvt Ltd                NCDs               CARE AA- (SO)  2955    Reaffirmed
(reduced from 300 Crore)
Abf Steel Traders                     LT Bk Fac          CARE B         106.8   Revised from
                                                                                CARE B+
(reduced from 11.55 Crore)
Abp Pvt Ltd                           LT BkFac           CARE A+        127.5   Reaffirmed
(reduced from 136.78 Crore)
Abp Pvt Ltd                           Long/ST BkFac      CARE A+/A1+    2300    Reaffirmed
Adeline Pharma Pvt Ltd                LT Bk Fac          CARE A- (SO)   200     Reaffirmed
Ador Welding Ltd                      LT Bk Fac          CARE AA        875     Reaffirmed
Agro Pure Capital Foods Pvt Ltd       LT / STBk Fac      CARE BBB-/A3   600     Reaffirmed
(enhanced from 45.00 crore Crore)
Almighty Agrotech Pvt Ltd             LT Bk Fac          CARE BB-       59.6    Assigned
Alps Hospital Ltd                     LT Bk Fac          CARE A         340     Revised from
                                                                                CARE A+
Annapurna Kalpana Warehousing         LT Bk Fac          CARE B+        111.7   Assigned
Enterprises
Annapurna Saraswathi Warehousing      LT Bk Fac          CARE B+        111.7   Assigned
Enterprises
Aptus Finance India Pvt Ltd           LT Bk Fac          CARE A         1500    Assigned
Atria Solar Power (Chamrajnagar) Pvt  LT Bk Fac          CARE BBB       3505    Revised from
Ltd                                                                             CARE BBB-
B. M. Foods                           LT Bk Fac          CARE BB        73.2    Reaffirmed
(reduced from 7.95 Crore)
Balaji Medical And Diagnostics ResearcLT Bk Fac          CARE A         1685.3  Revised from
Centre                                                                          CARE A+
Bhira Investments Ltd                 LT Bk Fac          CARE AA(SO)    3300    Reaffirmed
Bil Infratech Ltd                     LT Bk Fac          CARE BB+       200     Reaffirmed
Bil Infratech Ltd                     Long/ST Bk Fac     CARE BB+/A4+   1125    Reaffirmed
(reduced from 150 Crore)
Carbon Edge Industries Ltd            LT Bk Fac          CARE BBB       200     Reaffirmed
(Increased from Rs.13.00 Crore)
Carbon Edge Industries Ltd            LT/ Short- Term Bk CARE BBB/A3    500     Reaffirmed
                                      Fac
(Reduced from Rs.57.00 Crore)
Cavendish Industries Ltd              LT/ST BkFac        CARE A- (SO)   4000    Revised from
                                                         */ A2+ (SO)*           CARE A-*
*The above ratings are based on the credit enhancement in the form of Parent Undertaking from JK
Tyre & Industries Ltd to assist the borrower (CIL) in arranging/tying up funds for meeting the
cash flow shortfall in operations & its debt servicing obligations. 
Cavendish Industries Ltd              LT BkFac           CARE A-(SO)*   17900   Revised from
                                                                                CARE A-*
*The above ratings are based on the credit enhancement in the form of Parent Undertaking from JK
Tyre & Industries Ltd to assist the borrower (CIL) in arranging/tying up funds for meeting the
cash flow shortfall in operations & its debt servicing obligations. 
Classical Paradise Hotels And Resort  LT Bk Fac          CARE BBB-      -       Reaffirmed
Ltd
Claystone Granito Pvt. Ltd.           LT Bk Fac          CARE BB+       398.4   -
ISSUER NOT COOPERATING
Cri Ltd                               LT Bk Fac          CARE BBB+      179.1   Reaffirmed
(reduced from 18.38 CR)
Cri Ltd                               Long/ST Bk Fac     CARE BBB+      510     Reaffirmed
                                                         /CARE A3+
(enhanced from 46.0 CR)
Crosslay Remedies Ltd                 LT Bk Fac          CARE A         1441.4  Revised from
                                                                                CARE A+
Devki Devi Foundation                 LT Bk Fac          CARE A         1279.2  Revised from
                                                                                CARE A+
Dhruvi Pharma Pvt Ltd                 LT Bk Fac          CARE A- (SO)   170     Reaffirmed
Dhunseri Tea & Industries Ltd         LT Bk Fac          CARE A+        1241.6  Reaffirmed
(reduced from 125.47 CR)
Dish Infra Services Pvt. Ltd.         NCD                -              -       Withdrawn
Dish Infra Services Pvt. Ltd.         Fund based Bk Fac  CARE A+(SO)    400     Reaffirmed
                                      (CC)
Removed from credit watch and rating
Dish Infra Services Pvt. Ltd.         NCD                CARE A+(SO)    2000    Reaffirmed
Removed from credit watch and rating
Dish Infra Services Pvt. Ltd.         LT/ST              CARE A+(SO)    20835.3 Reaffirmed
                                      Fundbased/Non-fund /CARE A1+(SO)
                                      based Bk Fac
Removed from credit watch and rating
Divyesh Power Pvt Ltd                 NCDs               CARE AA- (SO)  2955    Reaffirmed
(reduced from 300 Crore)
Doosan Power Systems India Pvt Ltd    LT Bk Fac          CARE A+ (SO)   4734.1  Reaffirmed
Doosan Power Systems India Pvt Ltd    LT Bk Fac          CARE A+ (SO)   2000    Revised from
                                                                                CARE A (SO)
Doosan Power Systems India Pvt Ltd    LT Bk Fac          CARE A+ (SO)   6930    Reaffirmed
Doosan Power Systems India Pvt Ltd    Proposed LT Bk Fac CARE A+ (SO)   714     Reaffirmed
Doosan Power Systems India Pvt Ltd    Proposed LT Bk Fac CARE A+ (SO)   413.7   Reaffirmed
Doosan Power Systems India Pvt Ltd    Long/ST Bk Fac     CARE A+ (SO)   3350    Revised from
                                                         /CARE A1+ (SO)         CARE A (SO) /
                                                                                CARE A1 (SO)
Doosan Power Systems India Pvt Ltd    Long/ST Bk Fac     CARE A+ (SO)   3350    Revised from
                                                         /CARE A1+ (SO)         CARE A (SO) /
                                                                                CARE A1 (SO)
Doosan Power Systems India Pvt Ltd    LT Bk Fac          CARE A+ (SO);  1141.3  Revised from
                                                                                CARE A (SO)
Doosan Power Systems India Pvt Ltd    LT Bk Fac          CARE A+ (SO); S7106.6  Reaffirmed
Doosan Power Systems India Pvt Ltd    LT Bk Fac          CARE AA- (SO)  7879.7  Reaffirmed
Doosan Power Systems India Pvt Ltd    LT Bk Fac          CARE AA- (SO)  7756    Reaffirmed
Doosan Power Systems India Pvt Ltd    Long/ST Bk Fac     CARE AA- (SO)  4000    Reaffirmed
                                                         /CARE A1+ (SO)
Eagle Infra Pvt Ltd                   LT BkFac           CARE BBB       1484    Reaffirmed
Eagle Infra Pvt Ltd                   LT BkFac #         CARE BBB+ (SO) 593.6   Reaffirmed
# The rating is based on the credit enhancement in form of unconditional and irrevocable
corporate guarantee of Eagle Infra India Limited
East India Commercial Co. Ltd.        LT Bk Fac          CARE BB+       409.3   Revised from
                                                                                CARE BBB
Credit watch with developing implications
East India Commercial Co. Ltd.        LT/STBk Fac        CARE BB+/A4+   80      CARE BBB/CARE
                                                                                A3+
Credit watch with developing implications
Elena Renewable Energy Pvt Ltd        NCDs               CARE AA- (SO)  2955    Reaffirmed
(reduced from 300 Crore)
Eluru Jute Mills Pvt. Ltd.            LT Bk Fac          CARE BB+       572.5   Assigned
Eluru Jute Mills Pvt. Ltd.            LT/STBk Fac        CARE BB+/A4+   2.5     Assigned
Equitas Small Finance Bank Ltd        NCD Issue V (EMFL) -              -       Withdrawn
Equitas Small Finance Bank Ltd        LT Bk Fac          CARE A+        197.2   Reaffirmed
(reduced from 609.82 Crore)
Equitas Small Finance Bank Ltd        NCDsIssue III      CARE A+        500     Reaffirmed
                                      (EFL)
(reduced from 500.00 Crore)
Equitas Small Finance Bank Ltd        NCDsIssue IV (EFL) CARE A+        1000    Reaffirmed
(reduced from 750.00 Crore)
Equitas Small Finance Bank Ltd        NCD Issue I (EMFL) CARE A+        600     Reaffirmed
Equitas Small Finance Bank Ltd        Subordinate Debt   CARE A+        300     Reaffirmed
                                      (EMFL)
Essix Biosciences Ltd                 LT Bk Fac          CARE B         130     Reaffirmed
(reduced from 15.00 Crore)
Five-Star Business Finance Ltd        LT Bk Fac          CARE A         4500    Revised from
                                                                                CARE A-
(enhanced from 420.00 Crore)
Five-Star Business Finance Ltd        NCD issue          CARE A         750     Revised from
                                                                                CARE A-
Five-Star Business Finance Ltd        NCD issue          CARE A         400     Revised from
                                                                                CARE A-
Five-Star Business Finance Ltd        NCD issue          CARE A         2000    Revised from
                                                                                CARE A-
Focus Medisales Pvt Ltd               LT Bk Fac          CARE A- (SO)   200     Reaffirmed
(enhanced from 15 Crore)
Gati Kausar India Ltd                 NCDs               CARE BB+       1200    Reaffirmed
Gati Kausar India Ltd                 LT BkFac – CC@     CARE BBB (SO)  50      Revised from
                                                                                CARE A-
@ backed by the unconditional and irrevocable corporate guarantee provided by Gati Limited
(rated CARE BBB; Stable/CARE A3+)
Gati Ltd                              LT Bk Fac          CARE BBB       1730.2  Downgraded
                                                                                from CARE A-
(reduced from 209.12 Crore)
Gazebo Constructions Pvt Ltd          LT Bk Fac          CARE B         50      -
ISSUER NOT COOPERATING
Ghv (India) Pvt Ltd                   LT Bk Fac          CARE A         2500    Assigned
Ghv (India) Pvt Ltd                   LT/ST BkFac        CARE A/A1      9500    Reaffirmed
(enhanced from 25 Crore)
Gopal Industries                      LT Bk Fac          CARE B+        70      Assigned
Gpa Foods Pvt Ltd                     LT Bk Fac          CARE BBB-      51.3    Assigned
(reduced from 6.86 Crore)
Gpa Foods Pvt Ltd                     LT/ ST BkFac       CARE BBB-/A3   300     Assigned
(enhanced from 15.00)
Greenply Industries Ltd               LT Bk Fac          CARE AA-       3463.2  -
Continues on credit watch with developing implications
Gujarat Industries Power Co. Ltd      LT Bk Fac          CARE AA-       12854.5 Reaffirmed
(reduced from Rs.1318.48 crore Crore)
Gujarat Industries Power Co. Ltd      LT/ Shortterm Bk   CARE AA-/A1+   3802.6  Reaffirmed
                                      Fac
(enhanced from Rs.225.26 Crore)
Gujarmal Modi Health And Research     LT Bk Fac          CARE A         150     Revised from
Centre For Medical Science                                                      CARE A+
Havells India Ltd                     LT Bk Fac          CARE AAA       2000    Reaffirmed
Hazaribagh Ranchi Expressway Ltd      ^Subordinate NCD   CARE AAA (SO)  1485    -
                                      issue (NCD) -
                                      Series B
(reduced from  Rs.153.00 crore Crore) ,^Ratings are based on various credit enhancement measures
and structured payment mechanism for servicing of the
Senior (Series A)issue and Subordinate (Series B) issue 
Hazaribagh Ranchi Expressway Ltd      ^Senior NCD issue  CARE AAA (SO)  4780    -
                                      (NCD) - Series A
(reduced from Rs.498.00 crore Crore) ,Placed on credit watch with negative implications
,^Ratings are based on various credit enhancement measures and structured payment mechanism for
servicing of the Senior (Series A)issue and Subordinate (Series B) issue 
Himachal Baspa Power                  LT Bk Fac          CARE AA-       59478.4 Reaffirmed
(reduced from Rs 6032.96 crore Crore)
Himachal Baspa Power                  LT Bk Fac – CC     CARE AA-       2600    Reaffirmed
(Reduced from Rs 274.00 crore Crore)
Hindustan Dall & Flour Mills          LT/ST BkFac        CARE BBB-/A3   100     Assigned
Hometrail Buildtech Pvt Ltd           LT Bk Fac          CARE A         605.7   Revised from
                                                                                CARE A+
Hometrail Estate Pvt Ltd              LT Bk Fac          CARE A         748.2   Revised from
                                                                                CARE A+
Ig3 Infra Ltd                         LT Bk Fac          CARE BBB- (SO) 13450.4 Revised from
                                                                                CARE BB+
(reduced from 1360 Crore)
Il&Fs Energy Development Co. Ltd      LT Fac             CARE D         11378.5 Revised from
                                                                                CARE BB-
Removed from credit watch
Il&Fs Energy Development Co. Ltd      NCDs               CARE D         9000    Revised from
                                                                                CARE BB-
Removed from credit watch
Il&Fs Energy Development Co. Ltd      Proposed NCDs      CARE D         1000    Revised from
                                                                                CARE BB-
Removed from credit watch
Il&Fs Energy Development Co. Ltd      LT-Inter-Corporate CARE D         1000    Revised from
                                      Deposit (ICD) Issue                       CARE BB-
Removed from credit watch
Il&Fs Engineering And Construction Co.LT Bk Fac          CARE D         9028.1  Revised from
Ltd                                                                             CARE BB
Il&Fs Engineering And Construction Co.ST Bk Fac          CARE D         21885.2 Revised from
Ltd                                                                             CARE A4
Indorama Industries Ltd               LT Bk Fac*         CARE A+ (SO)   1340    Reaffirmed
Infiniti Retail Ltd                   NCDs               CARE A+        1500    Reaffirmed
Infiniti Retail Ltd                   Long / ST Bk Fac   Care A+/A1     1250    Reaffirmed
Interjewel Designs                    Bk Fac-Fund Based  CARE D         365     -
                                      – LT/ST -Packing
                                      Credit in Foreign Currency
Issuer not cooperating; Based on best available information
Irb Invit Fund                        LT Bk Fac          CARE AAA       15363.6 Reaffirmed
Irb Invit Fund                        Issuer Rating^     CARE AAA (Is)  -       Reaffirmed
Jaigad Power Transco Ltd              LT Bk Fac (TL)     CARE AA-       1991    Reaffirmed
(reduced from Rs 220.00 crore Crore)
Jaigad Power Transco Ltd              LT Bk Fac CC       CARE AA-       150     Reaffirmed
Jamipol Ltd                           Long /STBk Fac     CARE AA-/A1+   200     Reaffirmed
Janhit Charitable Trust               LT Bk Fac          CARE BB-       53.2    Assigned
Jayshree Grain Processing Pvt. Ltd.   LT Bk Fac          CARE B+        50.3    Assigned
Jk Tornel S.A De C.V.                 LT Bk Fac          CARE A         2360    Reaffirmed
Jk Tyre & Industries Ltd              LT Bk Fac          CARE A+        36589.8 Revised from
                                                                                CARE A+
Jk Tyre & Industries Ltd              LT /ST Bk Fac      CARE A+ /CARE  3500    Revised from
                                                         A1+                    CARE A+ /
                                                                                CARE A1+
Jorabat Shillong Expressway Ltd       *Senior NCD        CARE AAA (SO)  5924.2  -
Placed on credit watch with negative implications
Jorabat Shillong Expressway Ltd       *Subordinate NCD   CARE AAA (SO)  2237.3  -
Placed on credit watch with negative implications
Jsw Energy Ltd                        LT NCD -1          -              -       Withdrawn
Jsw Energy Ltd                        LT Bk Fac          CARE AA-       39824.9 Reaffirmed
(Enhanced from Rs. 3711.29 crore Crore)
Jsw Energy Ltd                        LT NCD -2          CARE AA-       4000    Reaffirmed
(Reduced from Rs 700 crore Crore)
Jsw Energy Ltd                        LT NCD -3          CARE AA-       10000   Reaffirmed
Jsw Energy Ltd                        Proposed LT        CARE AA-       5000    Reaffirmed
                                      NonConvertible
                                      Debenture
Keimed Pvt Ltd                        LT Bk Fac          CARE A-        450     Reaffirmed
Khopoli Investments Ltd               LT Bk Fac*         -              -       Withdrawn
*Credit enhancement in the form of an unconditional and irrevocable corporate guarantee from The
Tata Power Company Limited
Koneru Constructions Pvt Ltd          LT Bk Fac          CARE BB        65      Reaffirmed
Kpm Warehousing Enterprises           LT Bk Fac          CARE B+        132     Assigned
Kuantum Papers Ltd                    LT Bk Fac          CARE A-        3290.4  Reaffirmed
(reduced from Rs. 343.92 crore Crore)
Lalta Prasad Shaw And Company         LT Bk Fac          CARE BB        60      Assigned
List Of Instruments With No           NCD issue          CARE A-        1500    -
Confirmation On Payment Status
CARE has sought confirmation from the Issuer and debenture trustee on repayment and no
confirmation on the same has been received till date. ,ISSUER NOT COO
Lokesh Advisory Pvt Ltd               LT Bk Fac          CARE B+        15      Assigned
Lucky Pharmaceuticals Pvt Ltd         LT Bk Fac          CARE A- (SO)   120     Reaffirmed
M K Agrotech Pvt Ltd                  LT Bk Fac ST Bk    CARE A         231935  Reaffirmed
                                      Fac
M. Surya Narayana Reddy               LT Bk Fac          CARE BB        47.5    Reaffirmed
Madhav (Sehora Silodi Corridor)       LT / ST Bk Fac     -              0       Withdrawn#
Highways Pvt Ltd
(reduced from 11.50 Crore) ,# Long-term/ Short-term rating assigned to the derivative limit
(Rs.11.50 crore) has been withdrawn as the company has surrendered the facility.
surrender
Madhav (Sehora Silodi Corridor)       LT Bk Fac          CARE A-        635.4   Reaffirmed
Highways Pvt Ltd
(reduced from 67.92 Crore)
Madhav Infracon (Bk Corridor) Pvt Ltd LT Bk Fac          CARE A- (SO)   196.6   Reaffirmed
(Reduced from Rs.27.50 crore Crore)
Maharashtra Airport Development Co.   NCD issue          CARE A-        1500    -
Ltd
CARE has sought confirmation from the Issuer and debenture trustee on repayment and no
confirmation on the same has been received till date. ,ISSUER NOT COOPERATING
Max Healthcare Institute Ltd          LT Bk Fac          CARE A         3448.2  Revised from
                                                                                CARE A+
Medihauxe Healthcare Pvt Ltd          LT Bk Fac          CARE BBB+ (SO) 40      Reaffirmed
Medihauxe Pharma Pvt Ltd              LT Bk Fac          CARE A- (SO)   160     Reaffirmed
(enhanced from 14 Crore)
Meher Distributors Pvt Ltd            LT Bk Fac          CARE A- (SO)   400     Reaffirmed
(enhanced form 36 Crore)
Meja Urja Nigam Pvt Ltd               LT Bk Fac          CARE BBB+      77738.2 Reaffirmed
Mercator Oil And Gas Ltd              LT Bk Fac          CARE C (SO)    992     Revised from
                                                                                CARE BBB(SO)
Merino Industries Ltd                 LT Bk Fac          CARE AA-       1160.5  Reaffirmed
(reduced from 137.54 CR)
Merino Industries Ltd                 Long/ST Bk Fac     CARE AA- /CARE 280     Reaffirmed
                                                         A1+
Nagreeka Exports Ltd.                 LT Bk Fac- TL      CARE BBB-      204.4   Reaffirmed
outlook revised from “Negative”
Nalwa Steel And Power Ltd             LT Bk Fac          CARE BB+       3147.5  Reaffirmed
(reduced from 330.00 Crore)
Nalwa Steel And Power Ltd             Long/ST BkFac      CARE BB+/A4    150     Reaffirmed
Naman Mall Management Pvt Ltd         LT -Bk Fac – Fund  -              -       Withdrawn
                                      based
Namdhari Rice And General Mills       LT Bk Fac          CARE D         115     -
ISSUER NOT COOPERATING
Navin Cotex                           LT Bk Fac          CARE BB-       800     -
Issuer not cooperating; Based on best available information
Nedcommodities India Pvt Ltd          LT/ST BkFac        CARE BBB+/A2   2760    Reaffirmed
(enhanced from 145 Crore)
Neelkanth Drugs Pvt Ltd               LT Bk Fac          CARE A- (SO)   450     Reaffirmed
(enhanced from 34 Crore)
Neutral Publishing House Ltd          LT Bk Fac          CARE A-        225     Reaffirmed
Oil India Ltd                         LT/ST Fac          CARE AAA/A1+   9740    Reaffirmed
Oil India Ltd                         LT Fac             CARE AAAA      2000    Reaffirmed
Oriental Structural Engineers Pvt Ltd LT Bk Fac          CARE A-        7850    Reaffirmed
(enhanced from 370 CR)
Oriental Structural Engineers Pvt Ltd LT/ST Bk Fac       CARE A- /CARE  9900    Reaffirmed
                                                         A2+
(enhanced from 790 CR)
Osr Infra Pvt Ltd                     LT Bk Fac          CARE B+        132     Assigned
Osr Mp Warehousing Enterprises        LT Bk Fac          CARE B+        31.8    Assigned
Osr Up Warehousing Enterprises        LT Bk Fac          CARE B+        182.8   Assigned
Ostro Mahawind Power Pvt Ltd          LT Bk Fac          -              -       Withdrawn
Palepu Pharma Pvt Ltd                 LT Bk Fac          CARE A- (SO)   750     Reaffirmed
(enhanced from 55 Crore)
Patel Knr Heavy Infrastructures Ltd   LT Bk Fac -        CARE AA+ (SO)  956.3   Reaffirmed
                                      External
                                      Commercial Borrowing (ECB)
Patel Knr Heavy Infrastructures Ltd   LT Instruments -   CARE AA+ (SO)  3310.5  Reaffirmed
                                      NCD (NCD)
Pratyash Renewable Pvt Ltd            NCDs               CARE AA- (SO)  2955    Reaffirmed
(reduced from 300 Crore)
Precision Wires India Ltd             LT Bk Fac          CARE A         710     Reaffirmed
(enhanced from 28.00 CR)
Premier Cryogenics Ltd                LT Bk Fac          CARE BBB+      335     Reaffirmed
(reduced from 35 Crore)
Pudhuaaru Financial Services Pvt Ltd  LT Bk Fac          CARE BBB       1335.8  Revised from
                                                                                CARE BBB-
Pudhuaaru Financial Services Pvt Ltd  LT/ST BkFac        CARE BBB/A3+   664.2   Revised from
                                                                                CARE BBB-
Pundrikaksh Granites Pvt Ltd          LT Bk Fac          CARE BB-       166.7   Reaffirmed
Pundrikaksh Granites Pvt Ltd          Long/ST Bk Fac     CARE BB- /CARE 120     Reaffirmed
                                                         A4
Qualpack                              LT BkFac           CARE B+        120     Assigned
R. S. Rice Mills                      LT Bk Fac          CARE BB        300     Reaffirmed
(reduced from 34 Crore)
R.S. Triveni Foods Pvt Ltd            LT / STBk Fac      CARE BBB-/A3   400     Reaffirmed
Rameshwar Cottex                      LT Bk Fac          CARE D         85.4    Revised from
                                                                                CARE B+
Reliance Infrastructure Invit Fund    Issuer Rating      -              -       Withdrawn
Reliance Jio Infocomm Ltd             LT Bk Fac          CARE AAA       450000  Reaffirmed
Reliance Jio Infocomm Ltd             NCD                CARE AAA       200000  Reaffirmed
Reliance Jio Infocomm Ltd             NCD^               CARE AAA(SO)   20000   Reaffirmed
^ backed by unconditional and irremovable corporate guarantee from its parent Reliance
Industries Limited (RIL, rated CARE AAA; Stable/CARE A1+)
Reliance Jio Infocomm Ltd             NCD*               CARE AAA(SO)   40000   Reaffirmed
*to be backed by unconditional and irrevocable corporate guarantee from Reliance Industries
Limited
Repco Home Finance Ltd                LT Bk Fac          CARE AA        30450   Reaffirmed
Repco Home Finance Ltd                NCD                CARE AA        850     Reaffirmed
Repco Home Finance Ltd                NCD                CARE AA        10000   Reaffirmed
Repco Home Finance Ltd                NCD                CARE AA        5000    Reaffirmed
Saket City Hospital Pvt Ltd           LT Bk Fac          CARE A         2854.4  Revised from
                                                                                CARE A+
Sanjeevani Pharma Distributors Pvt LtdLT Bk Fac          CARE A- (SO)   250     Reaffirmed
(enhanced from 20 Crore)
Saras Food Products                   LT Bk Fac          CARE B+        67.8    Assigned
Sei Baskara Power Pvt Ltd             NCDs               CARE AA- (SO)  2955    Reaffirmed
(reduced from 300 Crore)
Sei Enerstar Renewable Energy Pvt Ltd NCDs               CARE AA- (SO)  2955    Reaffirmed
(reduced from 300 Crore)
Sei Mihir Energy Pvt Ltd              NCDs               CARE AA- (SO)  2955    Reaffirmed
(reduced from 300 Crore)
Shaily Engineering Plastics Ltd       LT Bk Fac          CARE A-        1064    Reaffirmed
Shakti Energy Solutions Pvt Ltd       LT Bk Fac          CARE A- (SO)   229     Assigned
Shakti Pumps India Ltd                LT Bk Fac          CARE A-        1102.5  Reaffirmed
(enhanced from Rs.101.65 crore Crore)
Shakti Pumps India Ltd                LT / ST BkFac      CARE A-/A2+    600     Reaffirmed
(enhanced from Rs.20.00 crore Crore)
Shreyas Renewable Energy Pvt Ltd      NCDs               CARE AA- (SO)  2955    Reaffirmed
(reduced from 300 Crore)
Shri Mahavir Pulses Pvt Ltd           LT / ST Bk Fac     CARE BBB-/A3   80      Reaffirmed
Shyam Metalics And Energy Ltd         LT Bk Fac          CARE A+        4273.6  Reaffirmed
(enhanced from 304.67 CR)
Shyam Sel And Power Ltd               LT Bk Fac          CARE A+        4385.5  Reaffirmed
(reduced from 452.90 CR)
Sify Technologies Ltd                 LT Bk Fac          CARE A+        8752.6  Reaffirmed
(enhanced from Rs. 697.80)
Sify Technologies Ltd                 Proposed NCD Issue CARE A+        500     Reaffirmed
Sify Technologies Ltd                 Long/ST Bk Fac     CARE A+ /CARE  1240    Reaffirmed
                                                         A1+
Skm Egg Products Export (India) Ltd   LT Bk Fac          CARE BBB       50      Assigned
Skm Egg Products Export (India) Ltd   Long/ST Bk Fac     CARE BBB/A3    260     Revised from
                                                                                CARE BBB
Smita Conductors Pvt Ltd              LT Bk Fac          CARE A         400     Reaffirmed
(Enhanced from Rs.22Cr to Rs.40Cr Crore)
Sonal Fabricators Pvt Ltd             LT Bk Fac          CARE B         30      Assigned
South West Mining Ltd                 LT Bk Fac          CARE A+(SO)    2502.5  Reaffirmed
(Reduced from Rs 275 crore Crore)*
South West Mining Ltd                 LT Bk Fac          CARE A+(SO)    -       Reaffirmed
** The above rating to the extent of Rs 125 crore is based on the credit enhancement in the form
of letter of shortfall support undertaking to be provided by JSW Energy Rated CARE AA-, Outlook
Stable CARE A1+
Sps Agronico India Llp                LT Bk Fac          CARE B+        310     Assigned
Srinivasa Medisales Pvt Ltd           LT Bk Fac          CARE A- (SO)   100     Reaffirmed
St. John’S Education Trust            LT Bk Fac          CARE BBB-      120     Assigned
St. John’S Rajakumar Education And    LT Bk Fac          CARE BBB-      730     Assigned
Research Trust
Stt Global Data Centres India Pvt Ltd LT Bk Fac          CARE AA        46000   Reaffirmed
Tata Teleservices (Maharashtra) Ltd   LT Rupee TL        -              -       Withdrawn
Tata Teleservices (Maharashtra) Ltd   FB - ST-TL         -              -       Withdrawn
Tata Teleservices (Maharashtra) Ltd   LT - CC            CARE A+        1200    -
Continues on Credit Watch With Developing Implications
Tata Teleservices Ltd                 Fund Based ST Loan -              -       Withdrawn
Tata Teleservices Ltd                 NCD (NCD)          -              -       Withdrawn
Tata Teleservices Ltd                 LT Rupee TL        CARE A+        10000   -
Continues on Credit Watch With Developing Implications
Tata Teleservices Ltd                 LT - CC            CARE A+        500     -
Continues on Credit Watch With Developing Implications
The Great Eastern Shipping Co. Ltd    NCD (NCD)          CARE AA+       34500   Revised from
                                                                                CARE AAA
The Great Eastern Shipping Co. Ltd    LT/ST Bk Fac       CARE AA+/A1+   500     Revised from
                                                                                CARE AAA
The Jorehaut Group Ltd                LT Bk Facility (TL)CARE BBB-      150.5   Reaffirmed
(enhanced from Rs.6.25 crore)
The Jorehaut Group Ltd                LT Bk Facility (CC)CARE BBB-      2200    Assigned
The Jorehaut Tea Ltd                  LT Bk Fac          -              -       Withdrawn
Tvs Motor Co. Ltd                     LT BkFac           CARE AA+       1368.5  Reaffirmed
Tvs Motor Co. Ltd                     LT/ STBk Fac       CARE AA+/A1+   3500    Reaffirmed
Vardhman Pharma Distributors Pvt Ltd  LT Bk Fac          CARE A- (SO)   350     Reaffirmed
Vee Kay Vikram And Company Llp        LT Bk Fac          CARE BBB       20      Reaffirmed
Vee Kay Vikram And Company Llp        LT/ ST BkFac       CARE BBB/A3+   14      Reaffirmed
Vento Power Infra Pvt Ltd             LT Bk Fac          CARE BBB-      1960    Assigned
Vhv Beverages Pvt Ltd                 LT Bk Fac          CARE D         160     Revised from
                                                                                CARE BB+
Vivanta Ceramic Pvt Ltd               LT Bk Fac          CARE BB-       15.4    Reaffirmed
(enhanced from 1.26 Crore)
Vivanta Ceramic Pvt Ltd               LT/ST BkFac        CARE BB- /A4   20      Reaffirmed
Vk Warehousing Enterprises            LT Bk Fac          CARE B+        349     Assigned
Vms Tmt Pvt. Ltd.                     LT Bk Fac          CARE BBB- (SO) 95      Assigned
Waa Solar Ltd                         LT Bk Fac          CARE A-        882.5   Reaffirmed
(reduced from Rs.98.57 crore Crore)
Zuvan Energy Pvt Ltd                  NCDs               CARE AA- (SO)  2955    Reaffirmed
(reduced from 300 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@thomsonreuters.com)
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