September 10, 2019 / 7:33 AM / 9 days ago

CARE ratings for Indian debt instruments-Sep 10

    Sep 10 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 9, 2019.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Abode Granito Llp                     ST Bk Fac          CARE A4        35      Reaffirmed
Ajeet Traderlink Pvt Ltd              ST Bk Fac          CARE A4        2.5     -
Issuer Not Cooperating;Based on best available information
Alpha Maier Pvt Ltd                   ST Bk Fac          CARE A4+       110     Revised from
                                                                                CARE A4+
(Enhanced from 7.00 Crore)*Issuer did not cooperate; Based on best available information
Aqua Fiber Industries                 ST Bk Fac          CARE A3        25      Assigned
Avinash Buildcon Infrastructure Pvt   ST Bk Fac          CARE A4        20      -
Ltd
(Issuer Not Cooperating;Based on best available information)
Master Construction Company           ST Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Baba Chandra Sekhar Rice Mill         LT Bk Fac          CARE A4        10      -
(Issuer Not Cooperating;Based on best available information)
Haldiram Bhujiawala Ltd               ST Bk Fac          CARE A3+       35      Reaffirmed
(Enhanced from 0.30 Crore)
Housing Development Finance CorporatioST Bk Fac          CARE A1+       501123.4Reaffirmed
Ltd
(enhanced from 48,945.11 Crore)
Housing Development Finance Corp      CP (CP) issue      CARE A1+       750000  Reaffirmed
Ltd
Kommineni Infotech Pvt Ltd            STBk Fac           CARE A4        50      -
Issuer Not Cooperating based on best available information.
Lancor Holdings Ltd                   ST Bk Fac          CARE A4+       50      Assigned
Laxmi Garments                        ST Bk Fac          CARE A4        106.9   -
Issuer Not Cooperating based on best available information.
M. S. Engineering                     ST BkFac           CARE A4        15      -
Issuer Not Cooperating based on best available information.
Maa Joytara Rice Mill Pvt Ltd         ST BkFac           CARE A4        1.7     -
Issuer Not Cooperating based on best available information.
Maral Overseas Ltd                    ST Bk Fac          CARE A3+       1847.8  Reaffirmed
Maruti Enterprises                    ST BkFac           CARE A4        60
Issuer Not Cooperating based on best available information.
Modern Dalkhola Flour Mills Pvt. Ltd  ST Bk Fac          CARE A4        150     -
Issuer Not Cooperating based on best available information.
Nulux Engineers                       ST Bk Fac          CARE A4        130     Assigned
Paramount Ltd                         ST Bk Fac          CARE A3+       500     Reaffirmed
Pitti Engineering Ltd (Erstwhile PittiST Bk Fac          CARE A2        1495    Reaffirmed
Laminations Ltd)
(reduced from 166.14 Crore) , (Outlook: positive)
Prognosys Medical Systems Pvt Ltd     Short - term BkFac CARE A4        75      -
Issuer Not Cooperating; Based on best available information
Raj Salt & Chemicals Pvt. Ltd         ST Bk Fac          CARE A4        80      -
Issuer Not Cooperating based on best available information.
Sun Industrial Automation And SolutionST BkFac           CARE A4        30      -
Issuer not cooperating*; based on best available information
Voltech Manufacturing Co. Ltd         Short –term BkFac  CARE A4        130     -
Issuer not cooperating*; based on best available information

MEDIUM TERM RATINGS:
-------------------
Galada Finance Ltd                    Fixed Deposits     -              -       Withdrawn

LONG TERM RATINGS:
-------------------
Abode Granito Llp                     LT Bk Fac          CARE           342.5#  Reaffirmed
                                                         BB-/Stable
#Bank facilities for Term loan outstanding reclassified from Long-term/Short-term to Long-term
Advanced Computers And Mobiles India  LT BkFac           CARE BB/Stable 1070    Revised from
Pvt Ltd                                                                         CARE BB+
(Issuer Not Cooperating;Based on best available information)
Advanced Computers And Mobiles India  LT/STBk Fac        CARE           570     Revised from
Pvt Ltd                                                  BB/Stable/A4           CARE BB+
(Issuer Not Cooperating;Based on best available information)
Ajeet Traderlink Pvt Ltd              LT Bk Fac          CARE BB-/Stable90      -
(Issuer Not Cooperating;Based on best available information)
Almighty Agrotech Pvt Ltd             LT Bk Fac          CARE BB-/Stable73.6    Reaffirmed
(Enhanced from 5.96 Crore)
Alpha Maier Pvt Ltd                   LT Bk Fac          CARE BB+/Stable102.1   Revised from
                                                                                CARE BB+
(Enhanced from 2.74 Crore)*Issuer did not cooperate; Based on best available information
Ananda Exports                        LT/ STBk Fac       CARE D/D       70      Revised from
                                                                                CARE B
(Issuer Not Cooperating;Based on best available information)
Aqua Fiber Industries                 LT Bk Fac          CARE           320     Assigned
                                                         BBB-/Stable
Avinash Buildcon Infrastructure Pvt   LT Bk Fac          CARE B+/Stable 60      -
Ltd
(Issuer Not Cooperating;Based on best available information)
Baba Chandra Sekhar Rice Mill         LT Bk Fac          CARE B/Stable  68.3    Revised From
                                                                                CARE B+
(Issuer Not Cooperating;Based on best available information)
Baid Leasing And Finance Co. Ltd      LT Bk Fac          -              -       Withdrawn
Continues to be on credit watch
Bajla Motors Pvt Ltd                  LT Bk Fac          CARE B/Stable  117.5   Revised From
                                                                                CARE B+
(Issuer Not Cooperating;Based on best available information),(Outlook: Stable)
Bansal Rice Mills                     LT Bk Fac          CARE D         150     Revised from
                                                                                CARE B-
(Issuer Not Cooperating;Based on best available information),(Outlook: Stable)
Bholaram Education Society            LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Dasari Builders Pvt Ltd               LT Bk Fac-Fund     -              -       Withdrawn
                                      Based
Dbl Mangalwedha Solapur Highways Pvt LLT Bk Fac – TL     CARE A/Stable  3389.5  Final Rating
(reduced from Rs.355.00 crore Crore),(Outlook: Stable)
Dbl Sangli Borgaon Highways Pvt Ltd   LT Bk Fac – TL     CARE A/Stable  3306.5  Final Rating
(reduced from Rs.345.00 crore Crore),(Outlook: Stable)
Dbl Sangli Borgaon Highways Pvt Ltd   LT Bk Fac – Non    CARE A/Stable  551.2   Final Rating
                                      fund based – BGs
Devrishi Papers Pvt Ltd               LT BkFac           CARE           200     Revised from
                                                         BB/Positive            CARE B+/
                                                                                Stable; 
(Issuer Not Cooperating) (Outlook: positive)
Devrishi Papers Pvt Ltd               LT/ ST Bk Fac      CARE           100     Revised from
                                                         BB/Positive/A4         CARE B+;
                                                                                Stable/ CARE 
                                                                                A4     
 (Issuer Not Cooperating)(Outlook: positive)
Divi’S Laboratories Ltd               LT BkFac           CARE AA+/Stable300     Reaffirmed
(Outlook: Stable)
Divi’S Laboratories Ltd               LT/STBk Fac        CARE           3550    Reaffirmed
                                                         AA+/Stable/A1+
(Outlook: Stable)
Durga Automotives Pvt Ltd             LT BkFac           CARE B-/Stable 194     Revised form
                                                                                CARE B
(Outlook: Stable),Issuer not cooperating; Based on best available information
Fepl Engineering Pvt Ltd              LT Bk Fac          CARE D         20      -
Issuer not cooperating; Based on best available information
Fepl Engineering Pvt Ltd              LT/ST Bk Fac       CARE D/D       35      -
Issuer not cooperating; Based on best available information
Gig Motors                            LT BkFac           CARE BB-/Stable131.2   Revised from
                                                                                CARE B+
(Reduced from 13.31 Crore),(Outlook: Stable)
Guru Nanak Rice And General           LT Bk Fac          -              -       Withdrawn
Mills_Kaithal
Haldiram Bhujiawala Ltd               LT Bk Fac          CARE           1221.1  Reaffirmed
                                                         BBB+/Stable
(Enhanced from 46.41 Crore)
Housing Development Finance Corp      Issuer Rating      CARE AAA       -       Reaffirmed
Ltd                                                      (Is)/Stable
Housing Development Finance Corp      LT Bk Fac          CARE AAA/Stable69533.6 Reaffirmed
Ltd
(enhanced from 4,745.00 Crore)
Isiri Agro Pvt Ltd                    Long -term Bk Fac  CARE B/Stable  160     -
Issuer Not cooperating; Based on best available information
Jm Financial Capital Ltd              CP Issue (IPO      -              -       Withdrawn
                                      Financing)
Jm Financial Products Ltd             CP Issue (IPO      -              -       Withdrawn
                                      Financing)
Jm Financial Properties And Holdings LCP (IPO financing) -              -       Withdrawn
Kakum Enterprise                      LT Bk Fac          CARE BB/Stable 150     Reaffirmed
(Outlook: Stable)
Kamal Autotech Pvt Ltd                LT BkFac           CARE BB+/Stable65      Assigned
(Outlook: Stable)
Kommineni Infotech Pvt Ltd            LT BkFac           CARE B/Stable  60      Revised from
                                                                                CARE B+
(Issuer Not Cooperating based on best available information.)
Lancor Holdings Ltd                   LT Bk Fac          CARE BB+/Stable2584.7  Assigned
(Outlook: Stable)
Laxmi Garments                        Long –term Bk Fac  CARE B         3.1     -
(Issuer Not Cooperating based on best available information.)
M. S. Engineering                     LT BkFac           CARE B/Stable  44.8    Revised form
                                                                                CARE B+
(Issuer Not Cooperating based on best available information.)
Maa Joytara Rice Mill Pvt Ltd         LT BkFac           CARE B/Stable  98.3    Revised from
                                                                                CARE BB-
(Issuer Not Cooperating based on best available information.)
Mahashakthi Chemicals And Fertilizers LT BkFac           CARE B-/Stable 75      Revised from
Pvt Ltd                                                                         CARE B;
                                                                                Stable 
(Issuer Not Cooperating based on best available information.)
Maral Overseas Ltd                    LT Bk Fac          CARE BBB/Stable1022.6  Reaffirmed
Maruti Enterprises                    LT BkFac           CARE B/Stable  72.5
Issuer Not Cooperating based on best available information.
Master Construction Company           LT Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Meenambakkam Realty Pvt Ltd           NCD (Proposed)     CARE BB+/Stable351     Assigned
(Outlook: Stable)
Metro Spare Part (India) Pvt Ltd      LT Bk Fac          CARE BB/Stable 150     Assigned
(Outlook: Stable)
Mkr Enterprises                       LT Bk Fac          CARE B+/Stable 60      Assigned
Modern Dalkhola Flour Mills Pvt. Ltd  LT Bk Fac          CARE BB-/Stable80      -
Issuer Not Cooperating based on best available information.
Modern India Creative Pvt Ltd         LT Bk Fac          CARE BB-/Stable100     Assigned
(Outlook: Stable)
Njt Finance Pvt Ltd                   LT Bk Fac          CARE BB-/Stable245     Assigned
(Outlook: Stable)
P.M.P. Textiles Spinning Mills Ltd    Long –term Bk Fac  CARE D         79      -
Issuer not cooperating*; based on best available information
P.M.P. Textiles Spinning Mills Ltd    Long –term/ ST Bk  CARE D/D       65      -
                                      Fac
Issuer not cooperating*; based on best available information
Paramount Ltd                         LT/STBk Fac        CARE           2000    Reaffirmed
                                                         BBB/Stable/A3+
Pitti Engineering Ltd (Erstwhile PittiLT /ST BkFac       CARE BBB+ /    105     Assigned
Laminations Ltd)                                         Positive/A2
(Outlook: positive)
Pitti Engineering Ltd (Erstwhile PittiLT Bk Fac          CARE           2535.8  Reaffirmed
Laminations Ltd)                                         BBB+/Positive
(enhanced from 191.85 Crore) , (Outlook: positive)
Prakash Corporates                    LT BkFac           CARE B/Stable  80      Revised form
                                                                                CARE B+
Issuer Not Cooperating; Based on best available information
Prognosys Medical Systems Pvt Ltd     LT Bk Fac          CARE B/Stable  25      -
Issuer Not Cooperating; Based on best available information (Outlook: Stable)
Radharaman Cotgin Pvt Ltd             LT Bk Fac          CARE B+/Stable 90      Reaffirmed
(Outlook: Stable)
Raj Salt & Chemicals Pvt. Ltd         LT Bk Fac          CARE B+        44      -
Issuer Not Cooperating based on best available information.
Saraswathi Broilers Pvt Ltd           Long -term Bk Fac  CARE B         120     -
Issuer Not Cooperating ;Based on best available information
Satin Housing Finance Ltd             LT BkFac           CARE BBB+      137.3   Reaffirmed
                                                         (CE)/Stable#
(reduced from 15.00 Crore)#Based on credit enhancement (Letter of Comfort) issued by Satin
Creditcare Network Limited (SCNL)
Satin Housing Finance Ltd             LT BkFac (Proposed)CARE BBB+      362.7   Reaffirmed
                                                         (CE)/Stable@
(Enhanced from 35.00 Crore)@ Based on the proposed credit enhancement in the form of Letter of
Comfort to be provided by SCNL
Sipat Transmission Ltd                LT BkFac           CARE           4610    Revised from
                                                         A+/Positive            CARE A-;
                                                                               
Positive(Outlook: Positive)
Sparsh Hospitals & Critical Care Pvt  LT Bk Fac          -              -       Reaffirmed
Ltd                                                                             and Withdrawn
Sun Industrial Automation And SolutionLong -term BkFac   CARE B/Stable  60      Revised from
                                                                                CARE B+
Issuer not cooperating*; based on best available information
Toro Processors India Pvt Ltd         LT Bk Fac          CARE D         150     -
Issuer Not Cooperating; Based on best available information.
Trimurti Re-Rollers Pvt Ltd           LT Bk Fac          CARE BB-/Stable106     Revised from
                                                                                CARE B+;
                                                                                Stable B
(Outlook: Stable)
Voltech Manufacturing Co. Ltd         Long –term BkFac   CARE BB-       119.9   -
Issuer not cooperating*; based on best available information
--------------------------------------------------------------------------------------------
$: 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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below