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CARE ratings for Indian debt instruments-Sep 18

    Sep 18  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of September 17, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
A.M. Rice Mills                       ST Bk Fac          CARE A4        60      -
(Issuer Not Cooperating); Based on best available information
Bvg India Ltd                         ST Bk Fac          -              0       Withdrawn
Bvg India Ltd                         ST Bk Fac          CARE A3+       5045    Revised from
                                                                                CARE A3 and
                                                                                removed from INC
(Issuer Not Cooperating)/ (Enhanced from 45.00crs)
Ceyenar Chemicals Pvt Ltd             ST Bk Fac          CARE A3        262.5   Reaffirmed
Chander Bhan Yogesh Kumar             Bk Fac- Non Fund   CARE A4        30      -
                                      Based- STLOC
(Issuer Not Cooperating); Based on best available information
Dimple Creations Pvt Ltd              ST Bk Fac          CARE A4+       200     Revised from
                                                                                CARE A3
(Issuer Not Cooperating); Based on best available information
Hajra Medical Agency Pvt Ltd          ST Bk Fac          CARE A4        7.5     -
(Issuer Not Cooperating); Based on best available information
Idcol Ferro Chrome And Alloys Ltd     ST Bk Fac          CARE A4        15      -
(Issuer Not Cooperating); Based on best available information
Intra Industrial Technologies         ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4 and
                                                                                Withdrawn 
Ma Chandi Rice Mill                   ST Bk Fac          CARE D         2.5     -
(Issuer Not Cooperating); Based on best available information
Pathankot Vehicleades Pvt Ltd         ST Bk Fac          CARE A4+       170     Assigned
Singur Cold Storage Pvt Ltd           ST Bk Fac          CARE A4        5       Reaffirmed
Srichaitanya Chlorides Pvt Ltd        ST Bk Fac          CARE A3        30      Reaffirmed
Srichaitanya Chlorides Pvt Ltd        ST Bk Fac          -              0       Withdrawn
Stone India Ltd                       ST Bk Fac          CARE D         193     -
(Issuer Not Cooperating); Based on best available information
Texmaco Rail & Engineering Ltd        ST Bk Fac          CARE A2        50      Reaffirmed
West Quay Multiport Pvt Ltd           ST Bk Fac (Non     CARE D         250     -
                                      Fund Based)
(Issuer Not Cooperating); Based on best available information
 
 
LONG TERM RATINGS:
-------------------
A.M. Rice Mills                       LT Bk Fac          CARE B-        120     Revised from
                                                                                CARE B
(Issuer Not Cooperating); Based on best available information
Alba Asia Pvt Ltd                     LT Bk FacTL        CARE C; Stable 200     -
                                      (Proposed)
(Issuer Not Cooperating); Based on best available information
Ambico Exports And Imports Pvt Ltd    LT/ST Bk Fac       CARE D         220     -
(Issuer Not Cooperating); Based on best available information
Ariel Sbl Ifmr Capital 2015           Series A1 PTC      -              -       Withdrawn
(Originator: Aptus Value Housing
Finance India Ltd)
Ariel Sbl Ifmr Capital 2015           Series A2 PTC      -              -       Withdrawn
(Originator: Aptus Value Housing
Finance India Ltd)
Asirvad Microfinance Ltd              LT Bk Fac          CARE A+; Stable296.7   Reaffirmed
Asirvad Microfinance Ltd              NCD Issue-II       CARE A+; Stable700     Reaffirmed
Asirvad Microfinance Ltd              NCD Issue-III      CARE A+; Stable330     Reaffirmed
Asirvad Microfinance Ltd              NCD Issue-IV       CARE A+; Stable1000    Reaffirmed
Bvg India Ltd                         LT Bk Fac          CARE BBB+;     1464    Revised from
                                                         Positive               CARE BBB;
                                                                                Negative and
                                                                                removed from INC
(Issuer Not Cooperating)/(Reduced from 182.25 crs)
Bvg India Ltd                         LT / ST Bk Fac     CARE BBB+;     5520    Revised from
                                                         Positive /CARE         CARE BBB;
                                                         A3+                    Negative/CARE A3
                                                                                and removed from
                                                                                INC
(Issuer Not Cooperating)/(Reduced from 592.00 crs)
Ceyenar Chemicals Pvt Ltd             LT Bk Fac          CARE BBB-;     177.7   Reaffirmed
                                                         Stable
(reduced from 18.61 crs)
Chander Bhan Yogesh Kumar             Bk Fac- FundBased- CARE C; Stable 80      Revised from
                                      LT- CC                                    CARE B
(Issuer Not Cooperating); Based on best available information
Echanda Urja Pvt Ltd                  Bk Fac-Fund        CARE BB        4500.2  Revised from
                                      based-LT-TL                               CARE BBB-
Credit watch with Developing Implications
Ecomotel Hotel Ltd                    LT Bk Fac          CARE D         116.5   -
(Issuer Not Cooperating); Based on best available information
Electromech Maritech Pvt Ltd          LT Bk Fac (TL-I)   CARE D         135.1   Reaffirmed
(reduced from 16.04 crs)
Electromech Maritech Pvt Ltd          LT Bk Fac (TL-II)  CARE D         79.5    Reaffirmed
(reduced from 8.75 crs)
Hajra Medical Agency Pvt Ltd          LT Bk Fac          CARE B         97.5    Revised from
                                                                                CARE B+
(Issuer Not Cooperating); Based on best available information
Idcol Ferro Chrome And Alloys Ltd     LT Bk Fac          CARE B-; Stable135     Revised from
                                                                                CARE B;
                                                                                Stable;
(Issuer Not Cooperating); Based on best available information
Indus Gene Expressions Ltd            LT Bk Fac          CARE BB-;      290     Assigned
                                                         Stable
Intra Industrial Technologies         LT Bk Fac          -              -       Revised to
                                                                                CARE
                                                                                BB-:Stable from
                                                                                CARE BB and 
                                                                                Withdrawn
Kcc Talgaon Kalmath Highways Pvt Ltd  LT Bk Fac          CARE A-;       1755    Reaffirmed
                                                         Positive
outlook revised from stable/(reduced from 180.00 crs)
Ma Chandi Rice Mill                   LT Bk Fac          CARE D         74.9    -
(Issuer Not Cooperating); Based on best available information
Mahalaxmi Roller Flour Mills          Bk Fac- FundBased- CARE B-        3.4     Revised from
                                      LT- TL                                    CARE B
(Issuer Not Cooperating); Based on best available information
Mahalaxmi Roller Flour Mills          Bk Fac- Fund       CARE B-        55      Revised from
                                      Based- LT- CC                             CARE B
(Issuer Not Cooperating); Based on best available information
North East Ferro Alloys Company Pvt   LT Bk Fac          CARE B-        59.5    -
Ltd 
(Issuer Not Cooperating); Based on best available information
Nupower Renewables Pvt Ltd            Bk FacFund         CARE BB;       2042.6  Revised from
                                      based-LTTL                                CARE BBB-
Credit watch with Developing Implications
Nupower Wind Farms Ltd                Bk FacFund         CARE BB;       1012.3  Revised from
                                      based-LTTL                                CARE BBB-
Credit watch with Developing Implications
Overseas Infrastructure Alliance      LT/ ST Bk Fac      CARE D/CARE D  7590    -
(India) Pvt Ltd
(Issuer Not Cooperating); Based on best available information
Pathankot Vehicleades Pvt Ltd         LT Bk Fac          CARE BB+;      680     Assigned
                                                         Stable
Rawalwasia Textile Industries Pvt Ltd LT / ST Bk Fac     CARE BB-;      130     -
                                                         Negative /CARE
                                                         A4;
(Issuer Not Cooperating); Based on best available information
Rawalwasia Yarn Dyeing Pvt Ltd        LT Bk Fac          CARE BB-;      79.7    -
                                                         Negative
(Issuer Not Cooperating); Based on best available information
Rawalwasia Yarn Dyeing Pvt Ltd        LT Bk Fac/ ST Bk   CARE BB-;      120     -
                                      Fac                Negative /CARE
                                                         A4
(Issuer Not Cooperating); Based on best available information
Rithwik Projects Pvt Ltd              LT Bk Fac          -              -       Revised to
                                                                                CARE BB;
                                                                                Stable from CARE
                                                                                D and Withdrawn
(Issuer Not Cooperating)
Rithwik Projects Pvt Ltd              LT/ST Bk Fac       -              -       Revised to
                                                                                CARE BB;
                                                                                Stable/ CARE A4
                                                                                from  
                                                                                CARE D and
                                                                                Withdrawn
(Issuer Not Cooperating)
Singur Cold Storage Pvt Ltd           LT Bk Fac          CARE B+; Stable79.2    Reaffirmed
Srichaitanya Chlorides Pvt Ltd        LT Bk Fac          -              0       Withdrawn
Srichaitanya Chlorides Pvt Ltd        LT Bk Fac          CARE BBB-;     100     Reaffirmed
                                                         Stable
Stone India Ltd                       LT Bk Fac          CARE D         344.8   -
(Issuer Not Cooperating); Based on best available information
Texmaco Rail & Engineering Ltd        LT Bk Fac          CARE A-; Stable7266.3  Reaffirmed
(enhanced from 676.63 crs)
Texmaco Rail & Engineering Ltd        LT/ST Bk Fac       CARE A-;       19069.9 Reaffirmed
                                                         Stable/CARE A2
Vasavi Solar Power Pvt Ltd            LT Bk Fac (TL-I)   CARE D         150.5   Reaffirmed
(reduced from 17.87 crs)
Vasavi Solar Power Pvt Ltd            LT Bk Fac (TL-II)  CARE D         95.4    Reaffirmed
(reduced from 10.94 crs)
West Quay Multiport Pvt Ltd           LT Bk Fac (Fund    CARE D         1165    -
                                      based)
(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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