September 18, 2019 / 9:41 AM / 2 months ago

CARE ratings for Indian debt instruments-Sep 18

   Sep 18 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 17, 2019.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agrimony Tradex Vyaappar Pvt Ltd      ST Bk Fac          CARE D         150     Revised from
                                                                                CARE A3
(Issuer Not Cooperating)
Adhunik Power And Natural Resources Ltd ST Bk Fac (Non-   CARE D         2261.1  -
                                      fund based)
(Issuer Not Co-operating; based on best available information)
Al Sameer Exports Pvt Ltd             ST Bk Fac          -              -       -
Revised from CARE A3; Stable; Issuer Not Cooperating to CARE A4+; Stable; 
Issuer Not Cooperating and Withdrawn
3F Oil Palm Agrotech Pvt Ltd          ST Bk Fac          CARE A3+       4       Assigned
Atlantis Products Pvt Ltd             ST Bk Fac          CARE A4        10      -
(Issuer Not Co-operating; based on best available information)
Chhajed Foods Pvt Ltd                 ST Bk Fac          CARE A4;       10      Revised from
                                                                                CARE A4+
(Issuer Not Co-operating; based on best available information)
Empee Distilleries Ltd                ST Bk Fac          CARE D         324.5   -
(Issuer Not Co-operating; based on best available information)
Freedom Ceramic Pvt Ltd               ST Bk Fac          CARE A4        17      Reaffirmed
Ind-Swift Laboratories Ltd            ST Bk Fac          CARE A4        397.5   Reaffirmed
Jayaraj Fortune Packaging Pvt Ltd     ST Bk Fac          -              -       Withdrawn
Muralikrishna Construction Company    ST Bk Fac          CARE A4        127.5   -
(Issuer Not Co-operating; based on best available information)
Narayani Steels Ltd                   ST Bk Fac          CARE A4        1250    Revised from
                                                                                CARE A3
(Issuer Not Cooperating;)
National Plastic Industries Ltd       ST Bk Fac          CARE A3        20      Reaffirmed
Rajiv Petrochemicals Pvt Ltd          ST Bk Fac          CARE A4        336     -
(Issuer Not Co-operating; based on best available information)
Hari Equipments Pvt Ltd               ST Bk Fac          CARE D         100     Revised from
                                                                                CARE A3
(Issuer Not Cooperating)
Rana Engineering Company              ST Bk Fac          CARE A4        70      Revised from
                                                                                CARE A4+
(Issuer Not Co-operating; based on best available information)
Sanee Infrastructure Pvt Ltd          ST Bk Fac          CARE A4        80      -
(Issuer Not Co-operating; based on best available information)
Shahi Shipping Ltd                    ST Bk Fac          CARE A4        30      Assigned
Kedarnath Commotrade Pvt Ltd          ST Bk Fac          CARE D         250     Revised from
                                                                                CARE A3
(Issuer Not Co-operating; based on best available information)
Narayani Ispat Ltd                    ST Bk Fac          CARE D         445     Revised from
                                                                                CARE A3
(Issuer Not Co-operating; based on best available information)
Phenil Sugars Ltd                     ST Bk Fac          CARE D         20      -
(Issuer Not Co-operating; based on best available information)
Shree Suraj Shiv Industries Pvt Ltd   ST Bk Fac          CARE A4        20      Assigned
Trion Chemicals Pvt Ltd               ST Bk Fac          CARE A3        46.4    Reaffirmed


LONG TERM RATINGS:
-------------------
3F Oil Palm Agrotech Pvt Ltd          LT Bk Fac          CARE BBB;      574.6   Reaffirmed
                                                         Stable
Abhilasha 11 2017 (Originator: Spandan Series A PTCs     -              -       Withdrawn
Sphoorty Financial Ltd (Ssfl))
-Abhilasha 11 2017
Adhunik Power And Natural Resources Ltd LT Bk Fac (TL)    CARE D         24997   -
(Issuer Not Co-operating; based on best available information)
Adhunik Power And Natural Resources Ltd LT Bk Fac (Fund   CARE D         3369    -
                                      based)
(Issuer Not Co-operating; based on best available information)
Agrimony Tradex Vyaappar Pvt Ltd      LT Bk Fac          CARE D         100     Revised from
                                                                                CARE BBB-;
                                                                                Stable
(Issuer Not Cooperating)
Al Sameer Exports Pvt Ltd             LT Bk Fac          -              -       -
Revised from CARE BBB-; Stable; Issuer Not Cooperating to CARE BB+; Stable; 
Issuer Not Cooperating and Withdrawn
Apogee Services Pvt Ltd               LT Bk Fac          CARE B; Stable 70.4    Reaffirmed
Apogee Services Pvt Ltd               LT/ST Bk Fac       CARE B;        9.6     Reaffirmed
                                                         Stable/CARE A4
Appollo Distilleries And Breweries PvtLT Bk Fac          CARE D         574     -
Ltd
(Issuer Not Co-operating; based on best available information)
Atlantis Products Pvt Ltd             LT Bk Fac          CARE BB-;      46.5    -
                                                         Stable
(Issuer Not Co-operating; based on best available information)
Atlantis Products Pvt Ltd             LT/ ST Bk Fac      CARE BB-;      230     -
                                                         Stable /CARE
                                                         A4;
(Issuer Not Co-operating; based on best available information)
Belgaum Renewable Energy Pvt Ltd      LT Bk Fac          CARE BBB+;     1040.9  Revised from
                                                         Stable                 CARE BBB;
                                                                                Stable
Chhajed Foods Pvt Ltd                 Long/ST Bk Fac     CARE B+;       120     Revised from
                                                         Stable/CARE A4;        CARE BB;
                                                                                Negative/ 
                                                                                CARE A4+
(Issuer Not Co-operating; based on best available information)
Chhajed Foods Pvt Ltd                 LT Bk Fac          CARE B+;       518.7   Revised from
                                                         Stable;                CARE BB;
(Issuer Not Co-operating; based on best available information)
Empee Distilleries Ltd                LT Bk Fac          CARE D         732.8   -
(Issuer Not Co-operating; based on best available information)
Empee Distilleries Ltd                NCDs               CARE D         475     -
(Issuer Not Co-operating; based on best available information)
Freedom Ceramic Pvt Ltd               LT Bk Fac          CARE BB-;      125.4   Revised from
                                                         Stable                 CARE B; Stable
Govindam Brj Infra Projects Pvt Ltd   LT Bk Fac          CARE BB-;      45      Reaffirmed
                                                         Stable
Govindam Brj Infra Projects Pvt Ltd   LT/ST Bk Fac       CARE BB-;      60      Reaffirmed
                                                         Stable /CARE A4
Hari Equipments Pvt Ltd               LT Bk Fac          CARE D         200     Revised from
                                                                                CARE BBB-;
                                                                                Stable
(Issuer Not Cooperating)
Harikishan Tejmal & Company           LT Bk Fac          CARE D/CARE D; 220     -
(Issuer Not Co-operating; based on best available information)
Indira Constructions                  LT Bk Fac – Lease  CARE BBB;      150     Assigned
                                      Rental Discounting Stable
                                      (LRD)
Ind-Swift Laboratories Ltd            LT Bk Fac          CARE C; Stable 458.3   Reaffirmed
Ind-Swift Laboratories Ltd            LT instruments     CARE C; Stable 4245    Reaffirmed
                                      (NCDs)
Ind-Swift Laboratories Ltd            LT/ST Bk Fac       CARE C;        321     Assigned#
                                                         Stable/CARE A4
Jayaraj Fortune Packaging Pvt Ltd     LT Bk Fac          -              -       Withdrawn
Jupiter Sbl Ifmr Capital 2017         Series A2 PTCs     -              -       Withdrawn
(Originator: Visage Holdings & Finance
Pvt Ltd (Vhfpl)) - Jupiter Sbl Ifmr Capital 2017
K. P. Saha Pvt Ltd                    LT Bk Fac          CARE BB; Stable60.3    Revised from
                                                                                CARE BB-;
                                                                                Stable (
K. P. Saha Pvt Ltd                    Long/ST Bk Fac     CARE BB;       4.5     Revised from
                                                         Stable/CARE A4         CARE BB-;
                                                                                Stable/
                                                                                Reaffirmed
Kay Vee Gems                          LT Bk Fac          CARE BB-;      95      -
                                                         Stable
(Issuer Not Co-operating; based on best available information)
Kedarnath Commotrade Pvt Ltd          LT Bk Fac          CARE D         190     Revised from
                                                                                CARE BBB-;
                                                                                Stable
(Issuer Not Co-operating; based on best available information)
Khanna Jewellers Pvt Ltd              LT/Shortterm Bk FacCARE BB-;      2000    Revised from
                                                                                CARE BB
(Issuer Not Co-operating; based on best available information)
Krishna Export                        LT Bk Fac          CARE BB+;      85      -
                                                         Stable
(Issuer Not Co-operating; based on best available information)
Madhavaram Constructions              LT Bk Fac          CARE B; Stable;150     -
(Issuer Not Co-operating; based on best available information)
MJ Infrastructure                     Long/ST Bk Fac     -              -       Withdrawn
Modern Machinery Store                LT Bk Fac          CARE D         93      -
(Issuer Not Co-operating; based on best available information)
Modern Machinery Store                LT/Shortterm Bk FacCARE D/CARE D; 3       -
(Issuer Not Co-operating; based on best available information)
Morgan Credits Pvt. Ltd.              NCD                CARE BBB-;     8000    Revised from
                                                         Stable                 Provisional
                                                                                CARE A-
                                                                                (CE);Stable
Muralikrishna Construction Company    LT Bk Fac          CARE           60      Revised from
                                                         BB-;Stable;            CARE BB;
                                                                                Stable
(Issuer Not Co-operating; based on best available information)
Narayani Ispat Ltd                    LT Bk Fac          CARE D         830     Revised from
                                                                                CARE BBB-;
                                                                                Stable
(Issuer Not Co-operating; based on best available information)
Narayani Steels Ltd                   LT Bk Fac          CARE C; Stable;975     Revised from
                                                                                CARE BBB-;
                                                                                Stable
(Issuer Not Co-operating; based on best available information)
National Plastic Industries Ltd       LT Bk Fac          CARE BBB-;     323.3   Reaffirmed
                                                         Stable
North Eastern Electric Power          NCD Issue          CARE AA;       25000   Reaffirmed
Corporation Ltd                                          Negative
Outlook revised from Stable
North Eastern Electric Power          NCD Issue          CARE AA;       6000    Reaffirmed
Corporation Ltd                                          Negative
Outlook revised from Stable
North Eastern Electric Power          NCD Issue          CARE AA;       9000    Reaffirmed
Corporation Ltd                                          Negative
Outlook revised from Stable
North Eastern Electric Power          NCD Issue          CARE AA;       3000    Reaffirmed
Corporation Ltd                                          Negative
Outlook revised from Stable
North Eastern Electric Power          NCD Issue          CARE AA;       5000    Reaffirmed
Corporation Ltd                                          Negative
Outlook revised from Stable
North Eastern Electric Power          NCD Issue          CARE AA;       3000    Reaffirmed
Corporation Ltd                                          Negative
Outlook revised from Stable
North Eastern Electric Power          NCD Issue          CARE AA;       3000    Reaffirmed
Corporation Ltd                                          Negative
Outlook revised from Stable
North Eastern Electric Power          Proposed           CARE AA;       2000    Reaffirmed
Corporation Ltd                       NonConvertible     Negative
                                      Debenture Issue
Outlook revised from Stable
Patel Education Society               LT Bk Fac          CARE B-;       57.3    -
                                                         Stable;
(Issuer Not Co-operating; based on best available information)
Phenil Sugars Ltd                     LT Bk Fac          CARE D         700     -
(Issuer Not Co-operating; based on best available information)
Radhey Govind Steel And Alloys Pvt LtdLT Bk Fac          CARE BB; Stable80      Assigned
Rajiv Petrochemicals Pvt Ltd          LT Bk Fac          CARE BB-;      210     -
                                                         Stable
(Issuer Not Co-operating; based on best available information)
Rana Engineering Company              LT Bk Fac          CARE BB;       80      Revised from
                                                         Stable;                CARE BB+
(Issuer Not Co-operating; based on best available information)
Reliance Broadcast Network Ltd        LT Bk Fac          CARE C; Stable 836.9   Revised from
                                                                                CARE BB;
                                                                                Stable
Reliance Broadcast Network Ltd        NCD issue (NCD)-2  CARE C; Stable 668     Revised from
                                                                                CARE BB;
                                                                                Stable
Reliance Broadcast Network Ltd        NCD issue (NCD)-3  CARE C; Stable 500     Revised from
                                                                                CARE BB;
                                                                                Stable
Reliance Broadcast Network Ltd        NCD issue (NCD)-4  CARE C; Stable 650     Revised from
                                                                                CARE BB;
                                                                                Stable
Reliance Broadcast Network Ltd        NCD issue (NCD)-1  CARE D         1000    Rating
                                                                                revised from
                                                                                CARE BBB- (CE)
Removed Credit Watch with developing implications;
Reliance Broadcast Network Ltd        NCD issue (NCD)-5  CARE D         500     Revised from
                                                                                CARE BB;
                                                                                Stable
Reliance Commercial Finance Ltd       NCD issue (NCD)    CARE D         2000    Removed
                                                                                Credit Watch
                                                                                with 
                                                                                developing
                                                                                implications; 
                                                                                Rating
                                                                                revised 
                                                                                from 
                                                                                CARE BBB-
Sanee Infrastructure Pvt Ltd          LT Bk Fac          CARE B-;       29      -
(Issuer Not Co-operating; based on best available information)
Saras Food Products                   LT Bk Fac          CARE BB-;      59.2    Revised from
                                                         Stable                 CARE B+;
                                                                                Stable
Satin Creditcare Network Ltd          NCDs               CARE A-; Stable3979    Reaffirmed
Satin Creditcare Network Ltd          NCDs (Proposed)    CARE A-; Stable1200    Assigned
SCC Infrastructure Pvt Ltd            LT Bk Fac          CARE BB+;      140     Assigned
                                                         Stable
SCC Infrastructure Pvt Ltd            LT/ ST Bk Fac      CARE BB+;      110     Assigned
                                                         Stable/CARE A4+
Shahi Shipping Ltd                    LT Bk Fac          CARE B; Stable 70      Assigned
Shanay Renewables Ltd                 LT Bk Fac          -              -       Withdrawn
Shantikrupa Estates Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Shivalik Infrastructure               LT Bk Fac          CARE D         50      Revised from
                                                                                CARE B+
(Issuer Not Co-operating; based on best available information)
Shree Ganga Finance Pvt Ltd           LT Bk Fac          CARE BB-;      150     Assigned
                                                         Stable
Shree Suraj Shiv Industries Pvt Ltd   LT Bk Fac          CARE B+; Stable130     Assigned
Skeiron Renewable Energy Kustagi Pvt LLT Bk Fac          -              -       Withdrawn
Tata Communications Collaboration     LT Fund based Bk   CARE AA-(CE);  150     Assigned
Services Pvt Ltd                      Facilitates@       Stable
@backed by credit enhancement in the form of letter of comfort from Tata 
Communications Ltd. (TCL, rated CARE AA+; Stable/CARE AA+ (Is); Stable /CARE A1+)
Tata Communications Collaboration     Proposed LT Fund   ProCARE        100     Assigned
Services Pvt Ltd                      based Bk           AA-(CE); Stable
                                      Facilitates
Trion Chemicals Pvt Ltd               LT Bk Fac          CARE BBB-;     166.7   Reaffirmed
                                                         Stable
Wonder Home Finance Ltd               LT Bk Fac          -              -       Withdrawn
YSG Cabs And Logistics Pvt Ltd        LT Bk Fac          -              -       Withdrawn
--------------------------------------------------------------------------------------------
$: 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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