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CARE ratings for Indian debt instruments-Sep 8

   Sep 8  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of September 7, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Cochin Minerals And Rutile Ltd        ST Bk Fac          CARE A3        714     Revised from
                                                                                CARE A4+
Ginni Filaments Ltd                   ST Bk Fac          CARE A3        621.7   Reaffirmed
(Enhanced from 58.00 crs)
Hvr Solar Pvt Ltd                     ST Bk Fac          CARE A4        48.6    Assigned
Investment & Precision Castings Ltd   ST Bk Fac          CARE A4+       70      Revised
                                                                                from CARE A3
Iup Jindal Metals & Alloys Ltd        ST Bk Fac          CARE A2+       20      Reaffirmed
Jayshree Automobiles India Pvt Ltd    ST Bk Fac          CARE A4        135     Revised
                                                                                from CARE A4+
(Issuer not cooperating); Based on best available information
Krbl Ltd                              CP*                CARE A1+       5000    -
Continues on credit watch with negative implications/*carved out of the sanctioned working
capital limits of the company 
Omkar Textile Mills Pvt Ltd           ST Bk Fac          CARE A4        20      Reaffirmed
Paraj Trading Mini Rice Mill          ST Bk Fac          CARE A4        5       Reaffirmed
Parivartan Buildtech Pvt Ltd          ST Bk Fac          CARE A4        99.5    -
(Issuer not cooperating); Based on best available information
Prayog Projects                       ST Bk Fac          CARE A4        50      -
(Issuer not cooperating); Based on best available information
Prerna Services Pvt Ltd               ST Bk Fac          CARE D         20      -
(Issuer not cooperating); Based on best available information
Sri Laxmi Constructions               ST Bk Fac          CARE D         54.5    -
(Issuer not cooperating); Based on best available information
Sharekhan Bnp Paribas Financial       CP Issue (IPO      CARE A1+       27000   Reaffirmed
Services Ltd                          Financing)
(enhanced from 2300 crs)
Shivalik India Alco Pvt Ltd           ST Bk Fac          CARE A4        15      -
(Issuer not cooperating); Based on best available information 
Sri Raghavendra Constructions         ST Bk Fac          CARE A4        17.5    -
(Issuer not cooperating); Based on best available information
Suman Autos                           ST Bk Fac          CARE A4        10      -
(Issuer not cooperating); Based on best available information
Vasishta Projects                     ST Bk Fac          CARE A4        380     -
(Issuer not cooperating); Based on best available information
Viacom18 Media Pvt Ltd                CP (CP) issue      CARE A1+       5000    Reaffirmed
Vinci Global Pvt Ltd                  ST Bk Fac          CARE A4        140     Reaffirmed
                                                                                and removed
                                                                                from INC
(Enhanced from 6.00 crs)
Vishesh Industries                    ST Bk Fac          CARE A4        15      -
(Issuer not cooperating); Based on best available information
Wellcome Fisheries Ltd                ST Bk Fac          CARE A3        1310    Assigned
 
 
LONG TERM RATINGS:
------------------- 
Adani Wilmar Ltd                      LT Bk Fac          CARE A;        24270   Reaffirmed
                                                         Positive
Outlook revised to  Positive from  Stable
Adani Wilmar Ltd                      LT/ Shortterm Bk   CARE A;        85375   Reaffirmed
                                      Fac                Positive/CARE
                                                         A1
Outlook revised to Positive from Stable
Ahinsha Builders Pvt Ltd              LT Bk Fac          CARE D         370     Revised from
                                                                                CARE B
(Issuer not cooperating)*) on the basis of best available information
Anmol Finsec Ltd                      LT Bk Fac          CARE A (SO);   550     Reaffirmed
                                                         Stable
(enhanced from 35.00 crs)
Antony Road Transport Solutions Pvt LtLT Bk Fac          CARE B; Stable 414.3   Revised from
                                                                                CARE B+;
                                                                                Stable
(Issuer not cooperating)
Aryabhatta Academic Society           LT Bk Fac          CARE BBB-;     81.7    Reaffirmed
                                                         Stable
Axis Bank Ltd                         Lower Tier II      CARE AAA;      78000   Reaffirmed
                                      Bonds              Stable
Axis Bank Ltd                         Basel III – Tier   CARE AAA;      33500   Reaffirmed
                                      II Bonds           Stable
Axis Bank Ltd                         Infrastructure     CARE AAA;      50000   Reaffirmed
                                      Bonds I            Stable
Axis Bank Ltd                         Infrastructure     CARE AAA;      35000   Reaffirmed
                                      Bonds II           Stable
Byreddy Vishnuvardhan Reddy           LT Bk Fac          CARE B-; Stable65      Revised from
                                                                                CARE B; Stable
(Issuer not cooperating) on the basis of best available information
Cmes Infinity Pvt Ltd                 LT Bk Fac          CARE BBB;      652.4   Revised from
                                                         Stable                 CARE BBB-;
                                                                                Stable
(Reduced from 69.00 crs)
Cochin Minerals And Rutile Ltd        LT Bk Fac          -              0       Withdrawn
Cochin Minerals And Rutile Ltd        LT Bk Fac          CARE BBB-;     15      Revised from
                                                         Stable                 CARE BB+;
                                                                                Stable
Ginni Filaments Ltd                   LT Bk Fac          CARE BBB-;     2448.3  Reaffirmed
                                                         Stable
(Reduced from 249.00 crs)
Gmr Pochanpalli Expressways Ltd       NCD issue          CARE D         3531    Revised from
                                                                                CARE BB
(under credit watch with negative implication) and removed from credit watch (Double B; Under
credit watch with negative implications)
Gmr Pochanpalli Expressways Ltd       LT Bk Fac (BG)     CARE D         200     Revised from
                                                                                CARE BB
(under credit watch with negative implication) and removed from credit watch (Double B; Under
credit watch with negative implications)
Grand Hira Resorts Pvt Ltd            LT Bk Fac          CARE D         150     -
(Issuer not cooperating); Based on best available information
Hvr Solar Pvt Ltd                     LT Bk Fac          CARE BB-;      36.4    Assigned
                                                         Stable
Indraprastha Gas Ltd                  LT Bk Fac          CARE AAA;      6000    Assigned
                                                         Stable
Indraprastha Gas Ltd                  LT                 CARE AAA;      4000    Reaffirmed
                                      InstrumentsBonds   Stable
                                      (Proposed)
Investment & Precision Castings Ltd   LT Bk Fac          CARE BB+;      657.3   Revised
                                                         Stable                 from CARE
                                                                                BBB-; Negative
(reduced from 73.57 crs)
Iup Jindal Metals & Alloys Ltd        Long/ST Bk Fac     CARE A-;       200     Reaffirmed
                                                         Stable/CARE A2+
Jayshree Automobiles India Pvt Ltd    LT Bk Fac          CARE BB; Stable35      -
(Issuer not cooperating); Based on best available information
Meja Urja Nigam Pvt Ltd               LT Bk Fac          CARE BBB+;     81326.1 Reaffirmed
                                                         Stable
(enhanced from 7,816.79 crs)
Oddiville Foods & Frozen              LT Bk Fac          CARE BB-;      76.1    Reaffirmed
                                                         Stable
Omkar Textile Mills Pvt Ltd           LT Bk Fac          CARE BB; Stable241.3   Reaffirmed
(enhanced from 21.75 crs)
Paraj Trading Mini Rice Mill          LT Bk Fac          CARE BB-;      75      Reaffirmed
                                                         Stable
Parivartan Buildtech Pvt Ltd          LT Bk Fac          CARE B+; Stable100     Revised from
                                                                                CARE BB;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Parivartan Buildtech Pvt Ltd          LT Bk Fac          CARE B+;       150.5   Revised from
                                      /Short Term Bk Fac Stable /CARE A4        CARE BB;
                                                                                Stable/CARE A4
(Issuer not cooperating); Based on best available information
Piramal Capital & Housing Finance Ltd Subordinate Debt   CARE AA; Stable5000    Reaffirmed
Piramal Capital & Housing Finance Ltd Subordinate Debt   CARE AA; Stable10000   Reaffirmed
Prayog Projects                       LT / ST Bk Fac     CARE BB-;      100     Revised
                                                         Stable /CARE A4        from CARE BB;
                                                                                Stable / CARE A4
(Issuer not cooperating); Based on best available information
Prerna Services Pvt Ltd               LT Bk Fac          CARE D         52.2    -
(Issuer not cooperating); Based on best available information
Reeta And Sons (R & S)                LT Bk Fac          CARE B+; Stable100     Assigned
Rvv Hatcheries                        LT Bk Fac          CARE B; Stable 73.3    Revised from
                                                                                CARE BB-;
                                                                                Stable;
(Issuer not cooperating)*) on the basis of best available information
Saksoft Ltd                           LT Bk Fac (FB)     CARE A-; Stable158.8   Reaffirmed
(reduced from 17.57 crs)
Satya Srinivasa Enterprises           LT Bk Fac          CARE B-;       80      Revised from
                                                         Stable;                CARE
                                                                                B; Stable;
(Issuer not cooperating) on the basis of best available information
Shivalik India Alco Pvt Ltd           LT Bk Fac          CARE BB-;      100     Revised from
                                                         Stable                 CARE BB;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Smt Atpl Associates                   LT Bk Fac          CARE BB+;      150     Assigned
                                                         Stable
Sree Rajyalakshmi Raw And Boiled Rice LT Bk Fac          CARE B-; Stable75      Revised from
Mill                                                                            CARE B;Stable
(Issuer not cooperating)*) on the basis of best available information
Sri Laxmi Constructions               LT Bk Fac          CARE D         125     -
(Issuer not cooperating); Based on best available information
Sri Raghavendra Constructions         LT Bk Fac          CARE B; Stable 50      Revised from
                                                                                CARE BB-;
                                                                                Stable
(Issuer not cooperating); Based on best available information
Sudarshan Motors                      LT Bk Fac          CARE BB; Stable77.5    Reaffirmed
Suman Autos                           LT Bk Fac          CARE B-        47      Revised from
                                                                                CARE B+
(Issuer not cooperating); Based on best available information
Svc Projects Pvt Ltd                  LT Bk Fac          CARE B+; Stable634     Assigned
Svc Projects Pvt Ltd                  Long/ST Bk Fac     CARE B+;       641     Assigned
                                                         Stable/CARE A4
Thoppil Contractors (India) Pvt Ltd   LT Bk Fac – TL     CARE B+; Stable25      Assigned
Thoppil Contractors (India) Pvt Ltd   LT Bk Fac – CC     CARE B+; Stable250     Reaffirmed
                                                                                and
                                                                                removed     
                                                                                from INC
Thoppil Contractors (India) Pvt Ltd   LT/ST Bk Fac       CARE B+;       150     Reaffirmed
                                                         Stable/CARE A4         and
                                                                                removed  
                                                                                from INC
Vasishta Projects                     LT Bk Fac          CARE B-; Stable120     Revised from
                                                                                CARE B+;
                                                                                Stable;
(Issuer not cooperating); Based on best available information
Viacom18 Media Pvt Ltd                LT/ST Bk Fac       CARE AAA;      15750   Reaff7irmed
                                                         Stable/CARE A1+
(enhanced from 1,275 crs)
Vinci Global Pvt Ltd                  LT Bk Fac          CARE BB; Stable100     Revised from
                                                                                CARE BB-;
                                                                                Stable
(Enhanced from 4.00 crs)
Vishesh Industries                    LT Bk Fac          CARE B-        58.6    Revised from
                                                                                CARE B;
(Issuer not cooperating); Based on best available information
Wellcome Fisheries Ltd                LT Bk Fac          CARE BBB;      118.6   Assigned
                                                         Stable
--------------------------------------------------------------------------------------------
$: 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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