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CARE ratings for Indian debt instruments-Sep 3

    Sep 3  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of September 2, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Agc Networks Ltd                      ST Bk Fac (iii)    CARE A4+       315     Revised from
                                                                                CARE A4
(Reduced from 38.70 crs)
Asahi India Glass Ltd                 LT/ST Bk Fac       CARE A2+       1100    Ratings
                                                                                revised from
                                                                                CARE A1
(reduced from 160 crs)
A V N Saigal Plastic Industries       ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4 and
                                                                                Withdrawn
(Issuer Not Cooperating)
Anupam Nirman Pvt Ltd                 ST Bk Fac          -              -       Revised to
                                                                                CARE A4  from
                                                                                CARE A4+ and
                                                                                Withdrawn
(Issuer Not Cooperating)
Bag Poly International Pvt Ltd        ST Bk Fac          CARE A4;       5       -
Issuer Not Cooperating; Based on best available information
Ceres Hotels Pvt Ltd                  ST Bk Fac          CARE A3        10      Revised from
                                                                                CARE A3+
Rating removed from credit watch with negative implications
Dar Credit And Capital Ltd            Proposed ST        CARE A3        50      Assigned
                                      Instrument
                                      (Secured NCD)
Eco Polyfibers Pvt Ltd                ST Bk Fac          CARE D         75      -
Issuer not cooperating; Based on best available information
Enn Tee International Ltd             ST Bk Fac          CARE D         1       -
Issuer not cooperating; Based on best available information
Fuso Glass India Pvt Ltd              ST Bk Fac          CARE A3        20      Reaffirmed
Jindal Drilling And Industries Ltd    ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A3+ and
                                                                                Withdrawn
(Issuer Not Cooperating)
Jindal Drilling And Industries Ltd    ST Bk Fac          -              -       Withdrawn
Om Industrial Engineering Services    ST Bk Fac          -              -       Reaffirmed
                                                                                and Withdrawn
Orchid Pharma Ltd                     ST Bk Fac          -              -       Withdrawn
Priyanka (India) Pvt Ltd              ST Bk Fac          CARE A4;       65      -
Issuer Not Cooperating Based on best available information
Proodle Hospitality Services Pvt Ltd  ST Bk Fac          CARE A4        5       -
Issuer not cooperating; Based on best available information
R M Katore And Co                     ST Bk Fac          CARE A4        35.2    -
Issuer Not Cooperating
Relemac Technologies Pvt Ltd          ST Bk Fac          CARE A4        135     -
Issuer Not Cooperating Based on best available information
Shiv Shakti Fibre Udyog               ST Bk Fac          CARE A4;       50      -
Issuer Not Cooperating
Superlite Jointings Pvt Ltd           ST Bk Fac          CARE A4        52      Reaffirmed
(Enhanced from 4.70 crs)
Syselec Technologies Pvt Ltd          ST Bk Fac          CARE A4+       60      Reaffirmed
(Reduced from 10.00 crs)
Tide Water Oil Co. (India) Ltd        ST Bk Fac          CARE A1+       170     Reaffirmed
Twincity Sunlife Pvt Ltd              ST Bk Fac          CARE A4        35      -
Issuer Not Cooperating
Vinod Kumar Pandey                    ST Bk Fac          CARE A4;       40      -
Issuer not cooperating: Based on best available information
Voltbek Home Appliances Pvt Ltd       Proposed Fund      ProvCARE A1    3500    Reaffirmed
                                      basedST facility 5 (CE)
Voltbek Home Appliances Pvt Ltd       Proposed           ProvCARE A1    2500    Reaffirmed
                                      non-fund based     (CE)
                                      ST facility 6
Yadav Tractor Company                 ST Bk Fac          CARE A4;       30      -
Issuer Not Cooperating Based on best available information
 
 
LONG TERM RATINGS:
-------------------
A V N Saigal Plastic Industries       LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB- and
                                                                                Withdrawn
(Issuer Not Cooperating)
Agc Networks Ltd                      LT Bk Fac (i)      -              0       Withdrawn
Agc Networks Ltd                      LT Bk Fac (ii)     CARE BB+;      970     Revised from
                                                         Stable                 CARE C; Stable
(Reduced from 100.00 crs)
Ajit Agro Industries                  LT Bk Fac          CARE C         64      Revised from
                                                                                CARE B-;
                                                                                Stable
Issuer not cooperating; Based on best available information
Anupam Nirman Pvt Ltd                 LT Bk Fac          -              -       Revised to
                                                                                CARE
                                                                                BB; Stable from
                                                                                CARE
                                                                                BB+; Stable and
                                                                                Withdrawn
(Issuer Not Cooperating)
Aptus Finance India Pvt Ltd           NCD                CARE A+; Stable250     Assigned
                                      Issue (Proposed)
Arfin India Ltd                       LT Bk Fac          CARE BBB-;     12.1    Revised
                                                         Negative               from CARE
                                                                                BBB; Stable
(reduced from Rs.2.61 crore)
Arfin India Ltd                       LT/ST Bk Fac       CARE           1049    Revised
                                                         BBB-; Negative         from CARE
                                                         /CARE A3               BBB; Stable /
                                                                                CARE A3+
(reduced from Rs.120.00 crore)
Aries Corporate Services Pvt Ltd      LT Bk Fac          CARE BB-;      60      Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(Issuer Not Cooperating)
Aries Corporate Services Pvt Ltd      LT/ ST Bk Fac      CARE BB-;      130     Revised from
                                                         Stable/CARE A4;        CARE BB;
                                                                                Stable/ CARE A4
(Issuer Not Cooperating)
Asahi India Glass Ltd                 LT Bk Fac          CARE A-;       21099.9 Ratings
                                                         Negative               revised from
                                                                                CARE A; Negative
(enhanced from 1944.80crs)
Asian Re-Surfacing Of Road Agency Pvt LT Bk Fac          CARE C         22.3    Revised from
Ltd                                                                             CARE B-;
                                                                                Stable
(Issuer Not Cooperating)
Asian Re-Surfacing Of Road Agency Pvt LT / ST Bk Fac     CARE C /CARE A462.5    Revised from
Ltd                                                                             CARE B-;
                                                                                Stable/ CARE A4
(Issuer Not Cooperating)
Bag Poly International Pvt Ltd        LT Bk Fac          CARE B-; Stable234     Revised from
                                                                                CARE B
Issuer Not Cooperating Based on best available information
Bag Poly International Pvt Ltd        Long/Short term    CARE B-;       79.5    Revised from
                                      Bk Fac             Stable/CARE A4         CARE B;
                                                                                Stable/ CARE A4
Issuer Not Cooperating; Based on best available information
Ballaram Hanumandas Charitable Trust  LT Bk Fac          CARE BBB-;     75      Reaffirmed
                                                         Stable
Bhageria Industries Ltd               LT/ST Bk Fac       CARE           760     Reaffirmed
                                                         A: Stable/CARE
                                                         A1
C S Creamery Pvt Ltd                  Long -term Bk Fac  CARE BB+;      212.2   Revised from
                                                         Stable                 CARE BBB-
                                                                                (CE); Stable
(reduced from 21.57 crs)
Ceres Hotels Pvt Ltd                  LT Bk Fac          CARE BBB;      2060    Revised from
                                                         Negative               CARE BBB+
Rating removed from credit watch with negative implications
Ceres Hotels Pvt Ltd                  LT Bk Fac          CARE BBB;      50      Revised from
                                                         Negative               CARE BBB+
Rating removed from credit watch with negative implications
D C Construction                      LT Bk Fac          CARE BB-;      90      Assigned
                                                         Stable
D C Construction                      Long/ST Bk Fac     CARE BB-;      45      Assigned
                                                         Stable/CARE A4
Dharamraj Jewellers                   LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BB-;
                                                                                Stable
Eco Polyfibers Pvt Ltd                LT Bk Fac          CARE D         75      -
Issuer not cooperating; Based on best available information
Edvantage Point Technologies Pvt Ltd  LT Bk Fac          CARE B+; Stable80      Assigned
Enn Tee International Ltd             LT Bk Fac          CARE D         99.1    -
Issuer not cooperating; Based on best available information
Esselworld Leisure Pvt Ltd            LT Bk Fac          CARE BBB;      280     Revised from
                                      Overdraft          Negative               CARE BBB+
removed from credit watch, outlook assigned to “Negative”
Fuso Glass India Pvt Ltd              LT Bk Fac          CARE BBB-;     314.7   Reaffirmed
                                                         Stable
Gravity India Technologies Pvt Ltd    LT Bk Fac          CARE B+; Stable58.2    Revised from
                                                                                CARE BB-;
                                                                                Stable
(Issuer Not Cooperating)
Gurukripa Parboiling                  LT Bk Fac          CARE B+; Stable96.2    Reaffirmed
(reduced from 9.80 crs)
Jain Hydraulics Pvt Ltd               LT Bk Fac          CARE D         100     -
Issuer not cooperating; Based on best available information
Jindal Drilling And Industries Ltd    LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE BBB+;
                                                                                Stable and
                                                                                Withdrawn
(Issuer Not Cooperating)
Jindal Drilling And Industries Ltd    LT Bk Fac          -              -       Withdrawn
Jovial Stainless Steel And Alloys     LT Bk Fac          CARE D         150     Revised from
                                                                                CARE
                                                                                B+;Stable       
                                                                            
(Issuer not cooperating)
Kanagam Poultry Farm                  Long -term Bk Fac  CARE B-;       100     Revised from
                                                         Stable;                CARE B; Stable
(Issuer Not Cooperating)
Malabar Institute Of Medical Sciences LT Bk Fac          CARE A-; stable1942.1  Reaffirmed
Ltd
(enhanced from 182.85 crs)
Meh India Overseas Pvt Ltd            Longterm/Shortterm CARE BB-;      105     -
                                      Bk Fac             Stable/CARE A4
Issuer not cooperating; Based on best available information
My Associates                         LT Bk Fac          -              -       Revised from
                                                                                CARE B+;
                                                                                Stable to   
                                                                                CARE B; Stable
                                                                                and Withdrawn
Om Industrial Engineering Services    LT Bk Fac          -              -       Revised to
                                                                                CARE B;
                                                                                Stable
                                                                                from CARE B+;
                                                                                Stable and  
                                                                                Withdrawn
Om Industrial Engineering Services    LT / ST Bk Fac     -              -       Revised to
                                                                                CARE B;
                                                                                stable/ 
                                                                                CARE A4 from
                                                                                CARE B+
                                                                                Stable/ CARE A4 
                                                                                and
                                                                                Withdrawn
Orchid Pharma Ltd                     LT Bk Fac          -              -       Withdrawn
Pink City Expressway Pvt Ltd          LT Bk Fac          CARE D         17905.5 -
Issuer not cooperating: Based on best available information
Priyanka (India) Pvt Ltd              LT Bk Fac          CARE B; Stable;10      Revised
                                                                                from
                                                                                CARE B+;
                                                                                Stable;
Issuer Not Cooperating Based on best available information
Proodle Hospitality Services Pvt Ltd  LT Bk Fac          CARE B+; Stable54.8    Revised from
                                                                                CARE
                                                                                BB-;
                                                                                Stable
Issuer not cooperating; Based on best available information
R M Katore And Co                     LT Bk Fac          CARE B+; Stable46      Revised
                                                                                from
                                                                                CARE BB-;
                                                                                Stable
(Issuer Not Cooperating)
Rajendra Agro Industries              LT Bk Fac          CARE B         93      Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer Not Cooperating)
Relemac Technologies Pvt Ltd          LT Bk Fac          CARE B+; Stable30.6    Revised
                                                                                from
                                                                                CARE
                                                                                BB-; Stable
Issuer Not Cooperating Based on best available information
Safespace Warehousing (India) Pvt Ltd LT Bk Fac          CARE B; Stable 68.9    Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer Not Cooperating)
Satman Automobiles Pvt Ltd            LT Bk Fac          CARE B-;       150     Revised
                                                         Stable;                from CARE B;
                                                                                Stable
(Issuer Not Cooperating)
Shiv Shakti Fibre Udyog               LT Bk Fac          CARE B-; Stable25      Revised
                                                                                from CARE B;
                                                                                Stable
(Issuer Not Cooperating)
Shree Maheshwar Hydel Power CorporatioLT Bk Fac          CARE D         4510    -
Ltd
Issuer not cooperating: Based on best available information
Skyone Airways Pvt Ltd                LT Bk              -              -       Withdrawn
                                      Fac (Proposed)
Superlite Jointings Pvt Ltd           LT Bk Fac          CARE BB; Stable46.4    Reaffirmed
(Reduced from 5.14 crs)
Syselec Technologies Pvt Ltd          LT Bk Fac          CARE BB; Stable120     Reaffirmed
(Enhanced from 6.00 crs)
Tablez And Toyz Pvt Ltd               Long -term Bk Fac  CARE BB+;      427.2   Revised from
                                                         Stable                 CARE BBB-
                                                                                (CE); Stable
(reduced from 42.97 crs)
Tablez Retail Pvt Ltd                 Long -term Bk Fac  CARE BB+;      268.4   Revised from
                                                         Stable                 CARE BBB-
                                                                                (CE); Stable
(reduced from 27.65 crs)
The Mysore Paper Mills Ltd            Redeemable Non     -              -       Withdrawn
                                      Convertible
                                      Unsecured TBs (Bond A)
Tide Water Oil Co. (India) Ltd        LT Bk Fac          CARE AA; Stable250     Reaffirmed
Tide Water Oil Co. (India) Ltd        LT / ST Bk Fac     CARE AA;       600     Reaffirmed
                                                         Stable /CARE
                                                         A1+
Twincity Sunlife Pvt Ltd              LT Bk Fac          CARE B; Stable 65      Revised from
                                                                                CARE BB-;
                                                                                Stable
(Issuer Not Cooperating)
Vinod Kumar Pandey                    LT Bk Fac          CARE B-; Stable50      Revised from
                                                                                CARE B;
                                                                                Stable;
Issuer not cooperating: Based on best available information
Voltbek Home Appliances Pvt Ltd       LT/ST fund based   CARE A (CE);   750     Reaffirmed
                                      facility 1         Stable/CARE A1
                                                         (CE)
Voltbek Home Appliances Pvt Ltd       LT/ST fund based   CARE A (CE);   2625    Final Rating
                                      facility 2         Stable/CARE A1
                                                         (CE)
Voltbek Home Appliances Pvt Ltd       Proposed Fund      ProvCARE A     125     Reaffirmed
                                      basedLT facility 3 (CE); Stable
Voltbek Home Appliances Pvt Ltd       Proposed           ProvCARE A     500     Reaffirmed
                                      non-fund based LT  (CE); Stable
                                      facility 4
Yadav Tractor Company                 LT Bk Fac          CARE B-;       34.3    Revised
                                                         Stable;                from CARE B;
                                                                                Stable
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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