September 20, 2019 / 11:30 AM / 2 months ago

CARE ratings for Indian debt instruments-Sep 20

    Sep 20 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of September 19, 2019.

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aercomfort Pvt Ltd                    ST BkFac           CARE A4        41      Revised from
                                                                                CARE A4
(Issuer not Cooperating)
Anjani Tiles Ltd                      ST Bk Fac          CARE A3+       90      Reaffirmed

Badajena Iron And Steel Industries PvtST Bk Fac          CARE A4        50      -
Ltd
Issuer not cooperating; based on best available information
Celite Tyre Corporation               ST Bk Fac          CARE D         127.5   Reaffirmed
                                      (Non-FBL)
Removed from Issuer Non Co-operation
Fleming Laboratories Ltd              ST BkFac           CARE A3+       80.5    Revised from
                                                                                CARE A3
(Reduced from Rs 10.68 crore Crore)
Gmr Airports Ltd                      Bk Fac – Non Fund  CARE A2+       2000    Revised from
                                      based- ST – LC/BG                         CARE A1
(Under credit watch with negative implications)
Junaid Enterprises                    ST Bk Fac          CARE A4        70      Assigned
Manav Rachna International Institute  ST BkFac           CARE A4        200     Reaffirmed
Of Research And Studies
(enhanced from 15 Crore)
Manokamana Agrotech Pvt Ltd           ST BkFac           CARE A4        40      -
ISSUER NOTCOOPERATING; Based onthe basis of best available information.
Panchmahal Steel Ltd                  ST Bk Fac          CARE A4+       920     Reaffirmed
Shree Ganesh Khand Udyog Sahakari     ST BkFac           CARE A4        260     Reaffirmed
Mandali Ltd
United Teleservices Ltd               ST BkFac           CARE A4        150     -
Issuer Not Cooperating based on best available information.

LONG TERM RATINGS:
-------------------
Adani Wilmar Ltd                      LT BkFac           CARE A/Stable  25160   Reaffirmed
(enhanced from Rs.1,697.00 crore Crore)
Adani Wilmar Ltd                      LT/ Shortterm Bk   CARE           85375   Reaffirmed
                                      Fac                A/Stable/A1
(enhanced from Rs.7,419.50 crore Crore)
Aercomfort Pvt Ltd                    LT BkFac           CARE BB/Stable 62      Revised from
                                                                                CARE B+
(Issuer not Cooperating)
Anjani Tiles Ltd                      LT Bk Fac          CARE BBB/Stable493.2   Reaffirmed
(reduced from 53.32 Crore)
Badajena Iron And Steel Industries PvtLT Bk Fac          CARE B+/Stable 23.5    -
Ltd
Issuer not cooperating; based on best available information
Celite Tyre Corporation               LT Bk Fac (FBL)    CARE D         159     Reaffirmed
Removed from Issuer Non Co-operation ,(enhanced from Rs.12.00 crore Crore)
Dewan Housing Finance Corporation Ltd Series A1 PTC      CARE BBB (SO)  78.7    Reaffirmed
-Nirmaan Rmbs Trust - Series I – 2014
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A2 PTC      CARE BBB (SO)  3.3     Reaffirmed
-Nirmaan Rmbs Trust - Series I – 2014
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A1 PTC      CARE BBB (SO)  878.6   Reaffirmed
-Nirmaan Rmbs Trust - Series I – 2015
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A2 PTC      CARE BBB (SO)  27.2    Reaffirmed
-Nirmaan Rmbs Trust - Series I – 2015
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A PTC       CARE BBB (SO)  861     Reaffirmed
-Nirmaan Rmbs Trust – Series I – 2016
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A PTC       CARE BBB (SO)  1003.6  Reaffirmed
-Nirmaan Rmbs Trust – Series Ii – 2016
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Second Loss        Equivalent     72.4    Reaffirmed
-Nirmaan Rmbs Trust – Series Ii – 2016Facility           toCARE BBB (SO)
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A1 PTC      CARE BBB (SO)  485     Reaffirmed
-Nirmaan Rmbs Trust - Series Iv – 2013
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A2 PTC      CARE BBB (SO)  20.2    Reaffirmed
-Nirmaan Rmbs Trust - Series Iv – 2013
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A PTC       CARE BBB (SO)  117.6   Reaffirmed
-Nirmaan Rmbs Trust - Series Iv – 2014
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A1 PTC      CARE BBB (SO)  761     Reaffirmed
-Nirmaan Rmbs Trust- Series Ii – 2013
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A2 PTC      CARE BBB (SO)  31.7    Reaffirmed
-Nirmaan Rmbs Trust- Series Ii – 2013
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A1 PTC      CARE BBB (SO)  1192.7  Reaffirmed
-Nirmaan Rmbs Trust- Series Ii – 2015
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A2 PTC      CARE BBB (SO)  36.9    Reaffirmed
-Nirmaan Rmbs Trust- Series Ii – 2015
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A1 PTC      CARE BBB (SO)  898.6   Reaffirmed
-Nirmaan Rmbs Trust- Series Iii – 2013
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A2 PTC      CARE BBB (SO)  37.4    Reaffirmed
-Nirmaan Rmbs Trust- Series Iii – 2013
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A1 PTC      CARE BBB (SO)  297.4   Reaffirmed
-Nirmaan Rmbs Trust- Series Iii – 2014
(Under credit watch with negative implications)
Dewan Housing Finance Corporation Ltd Series A2 PTC      CARE BBB (SO)  12.4    Reaffirmed
-Nirmaan Rmbs Trust- Series Iii – 2014
(Under credit watch with negative implications)
Dewan Housing Finance Corporation     Assignee Payouts   Equivalent     609.6   Reaffirmed
Ltd-Dhfl Direct Assignment March 2012 –                  toCARE BBB (SO)
I
(Under credit watch with negative implications)
Dewan Housing Finance Corporation     Assignee Payouts   Equivalent     547.1   Reaffirmed
Ltd-Dhfl Direct Assignment March 2012 –                  toCARE BBB (SO)
Ii
(Under credit watch with negative implications)
Dewan Housing Finance Corporation     Assignee Payouts   Equivalent     215.6   Reaffirmed
Ltd-Dhfl Direct Assignment March 2012 –                  toCARE BBB (SO)
Iii
(Under credit watch with negative implications)
Fleming Laboratories Ltd              LT Bk Fac          CARE BBB/Stable190     Revised from
                                                                                CARE BBB-
(Enhanced from Rs. 16.50 crore Crore)
Fleming Laboratories Ltd              Long /ST BkFac     CARE           20      Revised from
                                                         BBB/Stable/A3+         CARE BBB-
Ganapati Builders Ltd                 LT Bk Fac          CARE B/Stable  80      -
Issuer Not Cooperating based on best available information.
Gmr Airport Developers Ltd            LT Bk FacTL@       CARE A- (CE)   233.3   Revised
                                                                                fromCARE A+
(Under credit watch with negative implications),@ backed by unconditional and irrevocable
corporate guarantee of GMR Airports Limited (GAL, rated CARE A-/CARE A2+
(Under credit watch with developing implications))
Gmr Airports Ltd                      Proposed Non-    CARE A-          6500    Assigned
                                      Convertible Bonds@                             
@ Provisional rating assigned is based on indicative terms of the proposed issue. Final rating
shall be assigned on execution of transaction documents (including final term sheet, debenture
trust deed, etc.) to the satisfaction of the CARE.
(Under credit watch with negative implications)           
Gmr Airports Ltd                      Non-Convertible    CARE A-        8000    Revised from
                                      BondsProposed                             CARE A+
                                      Non-Convertible Bonds
(Under credit watch with negative implications)(reduced from 1100.00 Crore)
Greentech Mega Food Park Ltd          LT BkFac           CARE BB-/Stable296.4   Revised from
                                                                                CARE BB
Jai Bajrang Steels                    LT Bk Fac          CARE BB/Stable 300     Reaffirmed
Junaid Enterprises                    LT Bk Fac          CARE B+/Stable 30      Assigned
Kinjal Digital Imaging Solutions Pvt  LT Bk Fac          CARE BB-/Stable57.5    Assigned
Ltd
Kinjal Digital Imaging Solutions Pvt  LT/ST Bk Fac       CARE           40      Assigned
Ltd                                                      BB-/Stable/A4
Luhit Tea Company Pvt Ltd             LT BkFac           CARE B/Stable  179     Revised from
                                                                                CARE B+
Issuer not cooperating; based on best available information
Manav Rachna International Institute  LT BkFac           CARE BB-/Stable351.5   Revised from
Of Research And Studies                                                         CARE BB
(enhanced from 20.94 Crore)
Manokamana Agrotech Pvt Ltd           LT BkFac           CARE BB        110     -
ISSUER NOTCOOPERATING; Based onthe basis of best available information.
Navuthan Educational Trust            LT BkFac           CARE BB-/Stable540.6   Revised from
                                                                                CARE BB
(enhanced from 39.19 Crore)
Navuthan Educational Trust            LT/Shortterm Bk FacCARE           50      Revised from
                                                         BB-/Stable/A4          CARE BB
Panchmahal Steel Ltd                  LT Bk Fac          CARE BB+/Stable550     Reaffirmed
Rakesh Fuel Pvt Ltd                   LT Bk Fac          CARE BB-/Stable125     Assigned
Shree Ganesh Khand Udyog Sahakari     LT BkFac           CARE B+/Stable 317.3   Reaffirmed
Mandali Ltd
(enhanced from Rs.14.11 crore Crore)
Shree Ganesh Khand Udyog Sahakari     LT / Shortterm Bk  CARE B+/Stable 50      Reaffirmed
Mandali Ltd                           Fac                /A4
(reduced from Rs.10.00 crore Crore)
Shree Ram Brinechem Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Shri Veeranjaneya Sugars Pvt Ltd      LT Bk Fac          CARE B/Stable  95      Assigned
Speedage Trade Ltd                    LT NCD issue       CARE BB-/Stable600     Reaffirmed
Sri Shakthi Refineries Pvt Ltd        LT Bk Fac          -              -       Withdrawn
Sunlex Fabrics Pvt Ltd                LT Bk Fac          CARE BB+/Stable83      Reaffirmed
(reduced from Rs.9.67 crore Crore)
Sunlex Fabrics Pvt Ltd                LT / ST Bk Fac     CARE           226.5   Reaffirmed
                                                         BB+/Stable/A4+
Tirupati Agro Oils Pvt Ltd            LT Bk Fac          CARE B+/Stable 90      Assigned
Trinity Educational Trust             LT BkFac           CARE B+/Stable 261     Revised from
                                                                                CARE BB-
(enhanced from 17.48 Crore)
Trinity Educational Trust             LT/Shortterm Bk FacCARE           30      Revised from
                                                         B+/Stable/A4           CARE BB-
--------------------------------------------------------------------------------------------
$: 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