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CARE ratings for Indian debt instruments-Sep 17

    Sep 17  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of September 16, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Buildquick Infrastructure Pvt Ltd     ST Bk Fac          CARE A4        25      -
(Issuer Not Cooperating); on the basis of best available information
Cauvery Buildtech                     ST Bk Faciliities  CARE A4        37.5
(Issuer Not Cooperating); on the basis of best available information*
Darjeeling Dooars Plantations (Tea) LtST Bk Fac          CARE A4        8       Reaffirmed
Dr. O.P. Chaudhary Memorial Trust     ST Bk Fac          CARE D         16      -
(Issuer Not Cooperating); Based on best available information
Helios Photo Voltaic Ltd              ST Bk Fac          CARE D         21.5    -
(Issuer Not Cooperating); Based on best available information
Ind Swift Laboratories Ltd            ST Bk Fac          CARE A4        397.5   Reaffirmed
Jaymala Spintex Ltd                   ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE D and
                                                                                Withdrawn
(Issuer Not Cooperating)
Moser Baer Solar Ltd                  ST Bk Fac          -              -       Withdrawn
Nuziveedu Swathi Coastal Consortium   ST Bk Fac          CARE D         50      -
(Issuer Not Cooperating); Based on best available information
Shree Sai Enterprise                  ST Bk Fac          CARE A4        20      -
(Issuer Not Cooperating); Based on best available information
 

LONG TERM RATINGS:
-------------------
Acme Medak Solar Energy Pvt Ltd       LT Bk Fac          CARE BBB-;     2377.2  Assigned
                                                         Stable
Acme Ranga Reddy Solar Power Pvt Ltd  LT Bk Fac          CARE BBB-;     1574.9  Assigned
                                                         Stable
Andhra Pradesh State Road Transport   LT Bk Fac          CARE BB;       15000   -
Corporation                                              Stable;
(Issuer Not Cooperating); Based on best available information
Andhra Pradesh State Road Transport   LT Bk Fac (ii)     CARE BB+ (CE); 5000    Revised from
Corporation                                              Stable;                CARE A- (CE);
                                                                                Negative;
(Issuer Not Cooperating); Based on best available information
Andhra Pradesh State Road Transport   Proposed LT Bk Fac ProvCARE BB+   10000   Revised from
Corporation                           (i)                (CE); Stable           Provisional
                                                                                CARE A- (CE);
                                                                                Negative
(Issuer Not Cooperating); Based on best available information
Anrak Aluminium Ltd                   LT Bk Fac          CARE D         29950   -
(Issuer Not Cooperating); Based on best available information
Buildquick Infrastructure Pvt Ltd     LT Bk Fac          CARE B; Stable 45      Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer Not Cooperating); on the basis of best available information
Cauvery Buildtech                     LT Bk Fac          CARE B; Stable 25      Revised from
                                                                                CARE B+;
                                                                                Stable;
(Issuer Not Cooperating); on the basis of best available information
Chemietron Clean Tech Pvt Ltd         LT Bk Fac          CARE D         54.6    -
(Issuer Not Cooperating); Based on best available information
Chemietron Clean Tech Pvt Ltd         LT / ST Bk Fac     CARE D         10      -
(Issuer Not Cooperating); Based on best available information
Darjeeling Dooars Plantations (Tea) LtLT Bk Fac          CARE BB; Stable169.6   Reaffirmed
Dighi Port Ltd                        LT Bk Fac          -              -       Withdrawn
Dr. O.P. Chaudhary Memorial Trust     LT Bk Fac          CARE D         34.8    -
(Issuer Not Cooperating); Based on best available information
Fairchem Organics Ltd                 LT Bk Fac          CARE A; Stable 809.1   Assigned
Fairchem Organics Ltd                 LT / ST Bk Fac     CARE A;        25      Assigned
                                                         Stable/CARE A1
Gokul Dairy Products                  LT Bk Fac          -              -       Withdrawn
Gopal Oil Industries                  LT Bk Fac          CARE D         79      -
(Issuer Not Cooperating); Based on best available information
Healthfore Technologies Ltd           Bk Fac-LTTL        CARE D         2666.7  -
(Issuer Not Cooperating); Based on best available information
Healthfore Technologies Ltd           Bk Fac-STWCDL      CARE D         71      -
(Issuer Not Cooperating); Based on best available information
Helios Photo Voltaic Ltd              LT Bk Fac          CARE D         9783.8  -
(Issuer Not Cooperating); Based on best available information
Ind Swift Laboratories Ltd            LT Bk Fac          -              -       Withdrawn*
                                      (External
                                      commercial borrowings)
*CARE has withdrawn the rating assigned to the external commercial borrowings facility of
IND-Swift Laboratories Limited, with immediate effect since there is no amount outstanding under
the facility
Ind Swift Laboratories Ltd            LT Bk Fac (FBL)    CARE B; Stable 400     Revised from
                                                                                CARE C; Stable
Ind Swift Laboratories Ltd            LT instruments     CARE B; Stable 4245    Revised from
                                      (NCDs)                                    CARE C; Stable
Ind Swift Laboratories Ltd            LT/ST Bk Fac       CARE B;        316     Revised from
                                                         Stable/CARE A4         CARE C;
                                                                                Stable/CARE A4
(reduced from 32.10 crs)
Janani Agro Industries                LT Bk Fac          CARE B-;       63.2    Revised from
                                                         Stable;                CARE B; Stable
(Issuer Not Cooperating); Based on best available information
Jaymala Spintex Ltd                   LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE D and
                                                                                Withdrawn
(Issuer Not Cooperating)
Ligare Aviation Ltd                   Bk Fac-LT-TL       CARE D         2350    -
(Issuer Not Cooperating); Based on best available information
Ligare Aviation Ltd                   Bk Fac-ST-WCDL     CARE D         50      -
(Issuer Not Cooperating); Based on best available information
Moser Baer Solar Ltd                  LT Bk Fac          -              -       Withdrawn
Mss Infracon Pvt Ltd                  LT Bk Fac (TL)     CARE BB-;      450     Reaffirmed
                                                         Stable
Nrss Xxxi (B) Transmission Ltd        NCDs Issues        CARE AAA;      5830    Reaffirmed
                                                         Stable
(Reduced from 602.00 crs)
Nuziveedu Swathi Coastal Consortium   LT Bk Fac          CARE D         510     -
(Issuer Not Cooperating); Based on best available information
Renew Vayu Urja Pvt Ltd               LT Instrument –    -              0       Withdrawn^
                                      NCDs
^CARE has withdrawn the rating assigned to the non-convertible debentures of Renew Vayu Urja
Private Limited with immediate effect, as the company has repaid the aforementioned facility in
full and there is no amount outstanding as on date
Renew Vayu Urja Pvt Ltd               LT Bk Fac          CARE BBB+      10233.5 Reaffirmed
                                                         (CE); Stable           and final
                                                                                rating assigned
Shree Sai Enterprise                  LT Bk Fac          CARE B-; Stable75      Revised from
                                                                                CARE B; Stable
(Issuer Not Cooperating); Based on best available information
Smc Infrastructures Pvt Ltd           Bk Fac- Fund       CARE BBB;      1370    Revised from
                                      Based-LT – CC      Stable                 CARE BBB+;
                                      limits                                    Stable
Smc Infrastructures Pvt Ltd           Bk Fac- Non - Fund CARE BBB;      4460    Revised from
                                      Based-ST-LC/BG     Stable/CARE A3         CARE BBB+;
                                                                                Stable/ CARE A3+
Smt. Bharto Devi Educational Trust    LT Bk Fac          CARE B; Stable 65      -
(Issuer Not Cooperating); Based on best available information
Sravan Shipping Services Pvt Ltd      LT Bk Fac          -              -       Withdrawn at
                                                                                CARE BBB+;
                                                                                Stable
(Issuer Not Cooperating)
Sri Laxmi Srinivasa Industries        LT Bk Fac          CARE B+;       127.7   -
                                                         Stable;
(Issuer Not Cooperating); Based on best available information
Sunworld Solar Power Pvt Ltd          LT Bk Fac          CARE BBB-;     1578.3  Assigned
                                                         Stable
The Nilgiri Dairy Farm Pvt Ltd        LT Bk Fac          CARE B; Stable 420     Revised from
                                                                                CARE BB (CE)
(rating removed from credit watch with developing implications)
Vishwakarma Auto Parts Pvt Ltd        LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B+;
                                                                                Stable and
                                                                                Withdrawn
(Issuer Not Cooperating)
Yashoda Cold Storage Pvt Ltd          LT Bk Fac          CARE B; Stable 58.7    -
(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@refinitiv.com)
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