Home research CARE ratings for Indian debt instruments-Apr 5 Part II
CARE ratings for Indian debt instruments-Apr 5 Part II

CARE ratings for Indian debt instruments-Apr 5 Part II

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Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of April 4, 2019.(Part II)

COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
  
LONG TERM RATINGS:
-------------------   
Ecoair Cooling Systems Pvt Ltd        LT Bk Fac          CARE BB-       95      Assigned
Ecstasy Realty Pvt Ltd                NCD issue          CARE BB+       6000    -
CARE has sought confirmation from the Issuer on repayment but no confirmation on the same has
been received till date.
Edison Energy India Pvt Ltd           LT Bk Fac          CARE BB+       450.2   Reaffirmed
Efficient Illumination Pvt Ltd        Bk Fac - FB - LT-TLCARE A- (SO*)  500     Assigned
*Based on the credit enhancement in the form of unconditional, irrevocable and continuing
corporate guarantee extended by SMC Infrastructure Private Limited
Eita India Ltd                        LT BkFac           CARE BBB-      374     Reaffirmed
(reduced from 38.00 Crore)
Elkay Telelinks Ltd                   LT Bk Fac          CARE BBB-      150     Reaffirmed
Elkay Telelinks Ltd                   LT/ STBk Fac       CARE BBB-/A3   245.6   Reaffirmed
Emerald Heights Academy & Realty Pvt  LT Bk Fac          CARE BB+       299.6   Assigned

Enexio Power Cooling Solutions India  LT/ ST Bk Fac      CARE BBB-/A3   650     Revised from
Pvt Ltd                                                                         CARE BBB
Esab India Ltd                        Issuer Rating      CARE AA-(Is)   -       Reaffirmed
Escorts Heart Institute And Research  Bk Fac - LT - TL   CARE BBB-      280     Revised from
Centre Ltd                                                                      CARE C and
                                                                                placed on credit
watch with developing implications
Essel Urja Pvt Ltd                    LT BkFac – TL      CARE BBB-      2670    Continues
                                                                                under credit
                                                                                watch with
developing implications
(reduced from 288.92 Crore)
Everest Power Pvt Ltd                 LT Bk Fac          -              -       Withdrawn
Fatehpuria Transformers And SwitchgearLT Bk Fac          CARE BB-       110     Reaffirmed
Pvt Ltd
Filatex India Ltd                     LT Bk Fac          -              -       Withdrawn
Five Star Logistics Pvt Ltd           LT Bk Fac          CARE BB-       40      Assigned
Five Star Shipping Agency Pvt Ltd     LT Bk Fac          CARE BB-       60      Assigned
Floressence Perfumes Pvt Ltd          LT/ST Bk Fac       CARE D         90      -
*Issuer did not cooperate; Based on best available information
Floressence Perfumes Pvt Ltd          LT Bk Fac          CARE D         81      -
*Issuer did not cooperate; Based on best available information
Fortis Healthcare Ltd                 Bk Fac - LT - TL   CARE BBB-      550     Revised from
                                                                                CARE C and
                                                                                placed on credit
watch with developing implications
Fortune Stones Ltd                    Total Bk Fac                      296.5
Fortune Stones Ltd                    LT Bk Fac          CARE BBB       21.5    Reaffirmed
(reduced from 2.38 Crore)
Fusion Microfinance Pvt Ltd           LT Bk Fac          CARE A-        15000   Reaffirmed
(enhanced from 900 Crore)
G.B. Sports                           LT Bk Fac          CARE BB+       129     Reaffirmed
(enhanced from Rs.11.58 Crore)
Ganesh Foods                          LT Bk Fac          CARE B         160     Assigned
Ganga R K Industries Pvt Ltd          LT Bk Fac          CARE BB+       25.9    Revised from
                                                                                CARE BB
Ganga R K Industries Pvt Ltd          LT/ STBk Fac       CARE BB+/A4+   70      Revised from
                                                                                CARE BB
Garima Castings                       LT Bk Fac          CARE BB+       123.4   Revised from
                                                         /(Double B             CARE BB
                                                         Plus/Outlook:/)
(reduced from Rs.13.48 crore Crore)
Garima Castings                       LT/STBk Fac        CARE BB+ /A4+  60      Revised from
                                                         (Double B              CARE BB
                                                         Plus/Outlook:/A four Plus)
(enhanced from Rs.5 crore Crore)
General Insurance Corporation Of IndiaCPA                CARE AAA (In)  -       Reaffirmed
Genuine Promoters                     LT Bk Fac          CARE BBB-      1163.1  Reaffirmed
(reduced from Rs.125 crore Crore)
Gic Bhutan Reinsurance Ltd            CPA                CARE A (In)    -       Reaffirmed
Gmr Sez Infra Services Ltd            Proposed Market    -              -       Withdrawn
                                      Linked Debentures
                                      (MLDs)
Goa Sponge & Power Ltd                LT Fac             CARE B         700     Assigned
Gold Plus Glass Industry Ltd          LT BkFac           CARE BB+       2490.7  -
Golden Agri Resources (India) Pvt Ltd LT/ST BkFac*       CARE A         1150    Reaffirmed
                                                         (SO)/A2+ (SO)
*backed by unconditional & irrevocable corporate guarantee provided by Golden Agri Resources
Limited (GARL), Mauritius
Golden Agri Resources (India) Pvt Ltd LT/ST BkFac @      CARE A         1550    Reaffirmed
                                                         (SO)/A2+ (SO)
@to be backed by unconditional and irrevocable corporate guarantee to be provided by GARL,
Mauritius. The rating for the facilities (serial no ii) is “Provi
Golden Prince Wines Pvt Ltd           LT Bk Fac          CARE BBB       230     Reaffirmed
(reduced from 25.00 Crore),* Issuer did not cooperate; based on best available information
Gondia Education Society              LT Bk Fac          CARE BB-       60      Revised from
                                                                                CARE BB
Goverdhan Verma Punjab Jewellers Pvt LLT Bk Fac          CARE B+        100     -
Green Express Carriers Pvt Ltd        LT Bk Fac          CARE B+        120     Reaffirmed
Green Pearl Engineering Construction  LT Bk Fac          CARE BB+       140     Reaffirmed
Corporation Ltd
Greenko Energies Pvt Ltd              LT Bk Fac          CARE A+        55908   Reaffirmed
(enhanced from 879.50 Crore)
Greenko Energies Pvt Ltd              LT Instruments –   CARE A+        2000    Reaffirmed
                                      NCDs
Greenko Energies Pvt Ltd              LT/ST BkFac        CARE A+/A1+    1000    Reaffirmed
                                                         Plus/Outlook:
                                                         /A One Plus)
Guwahati Carbon Ltd                   LT Bk Fac          CARE BBB+      300     Revised from
                                                                                CARE BBB
(enhanced from 20.00 Crore)
Gwalior Bypass Project Ltd            NCD issue          CARE C         932.8   Revised from
                                                                                CARE D
(Reduced from 161.26 Crore)
Hare Krishna Orchid                   LT Bk Fac          CARE BB-       150     -
Issuer not cooperating
Harmony Plastics Pvt Ltd              LT Bk Fac          CARE           85.3    Revised from
                                                         BBB+/(Triple B         CAREBBB+
                                                         Plus/Outlook: Positive)
Harmony Plastics Pvt Ltd              LT/ST BkFac        CARE BBB+/A2\  150     Revised from
                                                                                CAREBBB+
Hazaribagh Ranchi Expressway Ltd      Senior NCD issue   CARE C         4580    -
                                      (NCD) - Series A
Issuer not cooperating/Based on best available information
Hazaribagh Ranchi Expressway Ltd      Subordinate NCD    CARE C         1430    -
                                      issue (NCD) -
                                      Series B
Issuer not cooperating/Based on best available information
Hero Future Energies Pvt Ltd (ErstwhilLT Bk Fac          -              -       Withdrawn
Clean Solar Power (Hiriyur) Pvt Ltd)
Hetero Drugs Ltd                      LT Bk Fac          CARE A         2880    Revised from
                                                                                CARE A+
Hetero Drugs Ltd                      LT/ST BkFac        CARE A/A1      1600    Revised from
                                                                                CARE A+
Hetero Labs Ltd                       LT BkFac           CARE A         33271.2 Revised from
                                                                                CARE A+
(Reduced from Rs 4,108.93 crore Crore)
Hetero Labs Ltd                       LT/Shortterm BkFac CARE A/A1      12500   Revised from
                                                                                CARE A+
Hetero Med Solutions Ltd              LT BkFac @         CARE A (SO)    1231.6  Revised from
                                                                                CARE A+
(Reduced from Rs. 132.23 crore Crore)
Hetero Wind Power (Pennar) Pvt Ltd    LT BkFac @         CARE A (SO)    875     Revised from
                                                                                CARE A+
(Reduced From Rs.93.50 crore Crore)
Hetero Wind Power Ltd                 LT BkFac @         CARE A (SO)    2114.7  Revised from
                                                                                CARE A+
(Reduced from Rs. 224.21 crore Crore)
Hfm Solar Power Pvt Ltd               LT Bk Fac          CARE           163     -
                                                         BB-/ISSUER NOT
                                                         COOPERATING* (Double B Minus/Outlook:
Issuer not cooperating
Hinduja National Power Corporation LtdLT BkFac - TermLoanCARE A-        59850   -
Continues on credit watch with developing implications
Hinduja National Power Corporation LtdLT BkFac -         CARE A-        12900   -
                                      CashCredit
Continues on credit watch with developing implications
Hindustan Laboratories                LT BkFac           CARE BBB       150     Revised from
                                                                                CARE BBB-
Hindustan Waste Treatment Pvt Ltd     LT Bk Facility FB  CARE A- (SO*   826.9   Reaffirmed
                                      (TL)
Hitachi Payment Services Pvt Ltd      NCDs (NCDs)        CARE AA        1200    Reaffirmed
Hyderabad-Yadgiri Tollway Pvt Ltd     LT Bk Fac          CARE A         1749.1  Revised from
                                                                                CARE A-
Hyderabad-Yadgiri Tollway Pvt Ltd     NCD issue – I      CARE A         1178.7  Revised from
                                                                                CARE A-
Hyderabad-Yadgiri Tollway Pvt Ltd     NCD issue - II     CARE A         786     Assigned
Il&Fs Tamil Nadu Power Co. Ltd        LT Bk Fac          CARE D         55849.3 -
Indian Clearing Corporation Ltd       Issuer Rating*     CARE AAA (Is)  -       Reaffirmed
*The rating is subject to the company maintaining overall gearing not exceeding 2 times
Indo Nabin Projects Ltd               Long –term Bk Fac  CARE B         118     Reaffirmed
Indo Nabin Projects Ltd               Long/ ST Bk Fac ST CARE B/A4      40200   Reaffirmed
                                      Bk Fac
Indo Nabin Projects Ltd               LT Bk Fac          CARE D         120     Reaffirmed
Intergen Energy Ltd                   LT Bk Fac          CARE BB        15      Reaffirmed
Intergen Energy Ltd                   LT / ST BkFac      CARE BB/A4     35      Reaffirmed
Itnl Road Infrastructure Development  LT Bk Fac          CARE D         402.4   -
Co. Ltd
Ivy Ecoenergy India Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Jagaran Microfin Pvt Ltd              LT BkFac           CARE BBB-      1000    Reaffirmed
(enhanced from 85.91 Crore)
Jaibalajee Marmograni Pvt Ltd         LT Bk Fac          CARE BB-       61.5    Assigned
Jakson Solar Pvt Ltd                  LT Bk Fac – fund   CARE BBB       204.2   -
                                      based – TL
Issuer not cooperating
Jharkhand Road Projects ImplementationNCDs (NCDs)^       CARE D         15458.1 -
Co. Ltd
Jindal Realty Ltd (Formerly Jindal    LT Bk Fac          -              -       Withdrawn
Realty Pvt Ltd)
(TL Crore)
Jindal Realty Ltd (Formerly Jindal    LT/ST Bk Fac       CARE BBB-      455     Reaffirmed
Realty Pvt Ltd)                                          /CARE A3
(LC/BG Crore)
Jm Financial Properties And Holdings LCP (IPO financing) -              -       Withdrawn
Jms Mining Pvt Ltd                    LT Bk Fac          CARE A+        3336.1  Reaffirmed
Jms Mining Pvt Ltd                    Long/ST BkFac      CARE A+/A1     6750    Reaffirmed
Jorabat Shillong Expressway Ltd       Senior NCDs (NCDs) CARE D         5924.2  -
Jorabat Shillong Expressway Ltd       Subordinate        CARE D         2237.3  -
                                      NonConvertible
                                      Debentures (NCDs)
Jrg Educational Trust                 LT Bk Fac          -              -       Withdrawn
Jrg Educational Trust                 LT Bk Fac          CARE BB+       83      Reaffirmed
K R F Ltd                             LT Bk Fac          CARE BBB-      241.9   Revised from
                                                                                CARE BBB
Kach Motors Pvt Ltd                   LT Bk Fac          CARE BBB-      87.7    Reaffirmed
(Reduced from Rs.11.64 crore Crore)
Kalinga Calciner Ltd                  LT Bk Fac          CARE BBB+      300     Revised from
                                                                                CARE BBB
Karamhans Foods Pvt Ltd               LT Bk Fac          CARE BB-       100     Revised from
                                                                                CARE B+
Keventer Agro Ltd                     LT BkFac           CARE BBB-      1435.3  Reaffirmed
(enhanced from 64.59 Crore)
Keventer Agro Ltd                     LT/ Shortterm Bk   CARE BBB-/A3   1251.5  Reaffirmed
                                      Fac
(enhanced from 55.15 Crore)
Kewalram Textiles Pvt Ltd             Long/ST Bk Fac @   CARE BBB-      902     Reaffirmed
                                                         (SO)/A3 (SO)
@ backed by unconditional and irrevocable corporate guarantee extended by Singapore-based KCTex
International Ltd (KIL) which is the holding company of Kewa
Kewalram Textiles Pvt Ltd             Long/STBk Fac #    CARE           1200    Reaffirmed
                                                         BBB-(SO)/A3
                                                         (SO)
# proposed to be backed by unconditional and irrevocable corporate guarantee of KIL. The above
rating is provisional and shall be confirmed upon the executi
Klm Axiva Finvest Ltd                 LT Bk Fac          CARE BB+       150     Revised from
                                                                                CARE BB
Klm Axiva Finvest Ltd                 NCD issue          CARE BB+       1000    Revised from
                                                                                CARE BB
Kotecha Steel Forge Pvt Ltd           LT/ ST BkFac       CARE BB+/CARE  50      Revised from
                                                         A4+                    CARE BB
Krishnagiri Thopur Toll Road Ltd      LT BkFac           -              -       Withdrawn
Krishnagiri Thopur Toll Road Ltd      NCDs@              CARE AA+(SO)   996.3   Revised from
                                                                                CARE AA-
Kunj Alloys Pvt Ltd                   LT Bk Fac          CARE BB+       350     Reaffirmed
Kunj Alloys Pvt Ltd                   LT Bk Fac          CARE BB+       90.8    Assigned
L&T Deccan Tollways Ltd               LT Bk Fac@         CARE AA (SO)   1348.8  Revised from
                                                                                CARE AA
@ backed by credit enhancement in the form of undertaking from L&T Infrastructure Development
Projects Limited(rated CARE AA; Stable )
L&T Infrastructure Development ProjectNCD Issue          CARE AA        1000    Revised from
Ltd                                                                             CARE AA
(reduced from 120 Crore)
Latiyal Handicrafts Pvt Ltd           LT Bk Fac          -              -       Withdrawn
Latiyal Handicrafts Pvt Ltd           LT/Shortterm Bk    CARE BBB-/A3   180     Revised from
                                      Fac                                       CARE BB+
Laxmi Sopan Agriculture Produce       LT Bk Fac          CARE B         38      Revised from
Marketing Co. Ltd                                                               CARE B
Issuer not cooperating,(Enhanced from Rs.3.26 crore Crore)
List Of Instruments With No           NCD issue          CARE BB+       6000    -
Confirmation On Payment Status
CARE has sought confirmation from the Issuer on repayment but no confirmation on the same has
been received till date.
Lolark Polytex Pvt Ltd                LT BkFac           CARE BB        70      -
Lotus Surgicals Pvt Ltd               LT Bk Fac          CARE BBB-      224.7   Reaffirmed
Ltc Commercial Company Pvt Ltd        LT Bk Fac          CARE BBB       65.3    Reaffirmed
(reduced from Rs.8.93 crore Crore)
Madhuram Jewellers                    LT Bk Fac          CARE B+        60      Reaffirmed
Madhya Bharat Agro Products Ltd       LT Bk Fac          CARE BBB       299.4   Reaffirmed
(reduced from Rs.32.31 crore Crore)
Manipal Health And Education          LT Bk Fac          -              -       Revised to
International Pte Ltd                                                           CARE BBB-
Manipal Health Systems Pvt Ltd        LT BkFac^          CARE BBB-(SO)  -       Assigned
#Equivalent to USD 134 USD million, forward exchange rate of 1USD equivalent to Rs.74.33 ^The
rated SBLC has been used to secure the term loan availed by a wholly owned subsidiary Manipal
Health and Education International Pte Limited (MHEIPL).
Maspack Industries                    LT Bk Fac          CARE B+        53.6    -
Issuer not cooperating
Mcnally Sayaji Engineering Ltd        LT Bk Fac          CARE D         1737.5  -
Issuer not cooperating
Mcnally Sayaji Engineering Ltd        Long/ ST Bk Fac    CARE D/D       890     -
Issuer not cooperating
Meenaxi Exports                       LT / ST Bk Fac     -              -       Withdrawn
Mendine Pharmaceuticals Pvt Ltd       LT Bk Fac          CARE BB-       75      Assigned
Metcon India Realty & Infrastructure  LT Bk Fac          CARE BB        70      -
Pvt Ltd
Issuer not cooperating
Metcon India Realty & Infrastructure  LT/ST Bk Fac       CARE BB/A4     390     -
Pvt Ltd
Issuer not cooperating
Metro And Metro                       LT/ ST Bk Fac      CARE BBB+      290     Reaffirmed
Metrro Waste Handling Pvt Ltd         LT Bk Fac          CARE BBB-      189.6   Reaffirmed
(enhanced from Rs.10.00 crore Crore)
Metrro Waste Handling Pvt Ltd         Long/ ST BkFac     CARE BBB-/A3   10.4    Reaffirmed
Mewar Polytex Ltd                     LT Bk Fac          CARE BBB+      48.3    Revised from
                                                                                CAREBBB+
Mewar Polytex Ltd                     LT/ST BkFac        CARE BBB+/A2   100     Revised from
                                                                                CAREBBB+
Micromax Informatics Ltd              LT Bk Fac          CARE BBB       53.9    Revised from
                                                                                CARE BBB+
(reduced from 8.00 Crore)
Milano Bathroom Fittings Pvt Ltd      LT Bk Fac          CARE BBB+(SO)  100     Reaffirmed
Modern Automotives Ltd                LT Bk Fac          CARE BBB-      230     Reaffirmed
Modern Education Foundation           LT Bk Fac          CARE BBB-      56.2    Reaffirmed
Mohan Breweries And Distilleries Ltd  (ii) LT BkFac      CARE C         1190    Revised from
                                      (Fund Based)                              CARE D
Mohan Breweries And Distilleries Ltd  (i) LT BkFac (TL)  CARE D         39.1    Reaffirmed
Moradabad Bareilly Expressway Ltd     NCDs(NCDs)         CARE D         3549    -
Moradabad Bareilly Expressway Ltd     LT Fac             CARE D         12110.4 -
Mp Border Checkpost Development Co. LtLT Bk Fac          CARE D         5523.8  -
Nagarjuna Fertilizers And Chemicals LtLT Bk Fac          CARE D         12761.4 Reaffirmed
(reduced from 1411.17 Crore)
Nagarjuna Fertilizers And Chemicals LtLT/ST Bk Fac       CARE D/D       11796.7 Reaffirmed
(reduced from 1181.17 Crore)
Nandi Highway Developers Ltd          LT Bk Fac          CARE A-        1200    Assigned
Neo Carbon Pvt Ltd                    LT Bk Fac          -              -       Withdrawn
Neo Carbon Pvt Ltd                    LT Bk Fac          CARE BBB+      500     Revised from
                                                                                CARE BBB
Olive Bar And Kitchen Pvt Ltd         LT BkFac           CARE BBB-      142.4   Reaffirmed
                                                                                and outlook
                                                                                revised from
stable tonegative
Om Shiv Foods                         LT Bk Fac          CARE B+        240     -
*Issuer did not cooperate; Based on best available information
Ostro Urja Wind Pvt Ltd               LT Bk Fac          -              -       Withdrawn
P. D. Sekhsaria Trading Company Pvt LtLT Bk Fac (Fund    CARE BBB-      900     Reaffirmed
                                      Based)
P. D. Sekhsaria Trading Company Pvt LtLT Bk Fac (TL)     CARE BBB-      13.5    Reaffirmed
P.C Yadav                             LT Bk Fac          CARE BB        30      Assigned
Pacific Garments Pvt Ltd              LT BkFac           CARE B+        6.9     Reaffirmed
Pacific Garments Pvt Ltd              LT/STBk Fac        CARE B+/A4     22.6    Reaffirmed
Pankaj C. Patel                       LT Bk Fac          CARE B-        42      -
Issuer not cooperating
Parnika Commercial & Estates Pvt Ltd  LT Bk Fac          CARE BBB       100     Reaffirmed
outlook revised from Stable
Parnika Commercial & Estates Pvt Ltd  LT/ST Bk Fac       CARE BBB/A3+   1800    Reaffirmed
outlook revised from Stable
Patspin India Ltd                     Long/ST Bk Fac     CARE C/A4      70      Reaffirmed
Patspin India Ltd                     LT Bk Fac          CARE D         920.3   Reaffirmed
Pattabhi Agro Foods Pvt Ltd           LT Bk Fac          CARE BBB       3800    Reaffirmed
Pcl Oil & Solvents Ltd                LT/ ST Bk Fac      CARE BB+/A4+   1355    Reaffirmed
Pheroze Framroze & Company Pvt Ltd    LT Bk Fac          CARE BB        500     Reaffirmed
Plasti Weave Industries Llp           LT Bk Fac          CARE BBB+      138.9   Revised from
                                                                                CAREBBB+
Plasti Weave Industries Llp           LT/ST BkFac        CARE BBB+/A2   170     Revised from
                                                                                CAREBBB+
Pnc Infratech Ltd                     LT Bk Fac          CARE AA-       17000   Reaffirmed
(enhanced from 1,050 Crore)
Pragya Electric And Electronics       LT Bk Fac          CARE BB-       24      Reaffirmed
Corporation
Prince Steel Industries               LT Bk Fac          -              -       Withdrawn
Prozone Developers & Realtors Pvt Ltd NCDs               CARE B+        340     Re-affirmed
Ps Srijan Conclave                    LT Bk Fac          -              -       Withdrawn
Pulkit Projects Pvt Ltd               LT Bk Fac          CARE B+        130     -
Issuer not cooperating
Rajalakshmi Automobiles Pvt Ltd       LT Bk Fac          CARE BB        298.2   Reaffirmed
Rajdeep And Associates                Long -termBk Fac   CARE B         35      -
Issuer not cooperating
Rajdeep Energies Pvt Ltd              Long -termBk Fac   CARE BB-       40      -
Issuer not cooperating
Ramdhan Spintex                       LT Bk Fac          CARE BB-       247.2   -
Issuer not cooperating
Ramky Elsamex Hyderabad Ring Road Ltd LT Bk Fac          CARE BB-       930.2   Revised from
                                                                                CARE D
(reduced from 196.99 Crore)
Ramky Integrated Township Ltd         LT Bk Fac          CARE BBB-      29.7    Reaffirmed
(reduced from 15.64 Crore)
Ratnapprabbha Motors                  LT Bk Fac          CARE BBB-      300     Assigned
Rattanindia Solar 2 Pvt Ltd           LT Fac             CARE BBB+      2300    Revised from
                                                                                CARE BBB
Ravi Renewable Energy And Lighting    LT Bk Fac          -              -       Withdrawn
(India) Pvt Ltd
Ravi Renewable Energy And Lighting    LT Bk Fac          CARE BBB       150     Reaffirmed
(India) Pvt Ltd
(enhanced from Rs.4 crore Crore)
Ravi Renewable Energy And Lighting    LT / ST BkFac      CARE BBB/A3+   200     Reaffirmed
(India) Pvt Ltd
(enhanced from Rs.11 crore Crore)
Ravi Sheet Processors Pvt Ltd         LT/ STBk Fac       CARE B+/A4     97.5    Reaffirmed
Rayat Educational And Research Trust  LT Bk Fac          CARE D         333.6   Reaffirmed
Rituraj Holdings Pvt Ltd              LT Bk Fac          CARE BB+       13.6    Revised from
                                                                                CARE BB
(reduced from 1.40 Crore)
Rituraj Holdings Pvt Ltd              LT/ ST Bk Fac      CARE BB+/A4+   65      Long-term
                                                                                rating
                                                                                revised from
CARE BB
Ritzy Chemicals Pvt Ltd               LT/ ST Bk Fac      CARE BB+/A4+   3150    Reaffirmed
                                                         (Double B
                                                         Plus/Outlook: /A Four Plus)
(enhanced from 250.00 Crore)
Rohan Builders And Developers Pvt Ltd LT Bk Fac          CARE A-        1000    Reaffirmed
(reduced from 161.63 Crore)
Rohan Gruh Nirman Llp                 LT Bk Fac          CARE A-(SO)    700     Reaffirmed
Royalcare Super Speciality Hospital LtLT Bk Fac          CARE BB-       2312.5  Reaffirmed
(reduced from 241.17 Crore)
Rug Resources                         LT / ST Bk Fac     CARE BB-/A4    110     Reaffirmed
S P Construction                      LT Bk Fac          CARE B+        20      Revoked from
                                                                                CARE B+
S P Infra                             LT Bk Fac          CARE BB-       93.8    Reaffirmed
(reduced from 10 Crore)
S S Group Pvt Ltd                     LT Bk Fac          CARE BB+       350     Reaffirmed
(Reduced from Rs. 47.00 crore Crore)
Sadbhav Engineering Ltd               LT NCD             CARE A         1000    Assigned
Sadbhav Infrastructure Project Ltd    LT /ST BkFac       CARE A-/A2+    4000    Reaffirmed
Samudra Electronic System Pvt Ltd     LT Fund based – CC CARE A- (SO*)  40      Reaffirmed
*Based on the credit enhancement in the form of unconditional, irrevocable and continuing
corporate guarantee extended by SMC Infrastructure Private Limited
Samudra Electronic System Pvt Ltd     LT Fund based - TL CARE A- (SO*)  3       Reaffirmed
*Based on the credit enhancement in the form of unconditional, irrevocable and continuing
corporate guarantee extended by SMC Infrastructure Private Limited
Sanganeriya Spinning Mills Ltd        LT Bk Fac          CARE BB        85      Reaffirmed
Sarjan Infracon Pvt Ltd               LT Bk Fac          CARE BBB-      70      Reaffirmed
(enhanced from Rs.6.00 crore Crore)
Sarjan Infracon Pvt Ltd               LT/ST Bk Fac       CARE BBB-/A3   640     Reaffirmed
(enhanced from Rs.47.00 crore Crore)
Saroja Renewable Ltd                  LT Bk Fac- TL      CARE BBB       1662    Assigned
                                      (Senior Debt)
Saroja Renewable Ltd                  LT Bk Fac- TL (Sub CARE BBB       240.6   Assigned
                                      Debt)
Satin Creditcare Network Ltd          NCDs               -              -       Withdrawn
Satin Creditcare Network Ltd          NCDs               -              -       Withdrawn
Satin Creditcare Network Ltd          NCDs               -              -       Withdrawn
Saurabh Agrotech Pvt Ltd              LT Bk Fac          CARE BB+       240     Revised from
                                                                                CARE BB
Scion Exports Pvt Ltd                 LT Bk Fac          CARE BBB       90      Reaffirmed
Seajuli Developers & Finance Ltd      LT Bk Fac          CARE BBB-      1210    Reaffirmed
(reduced from 200 Crore)
Segam Tiles Pvt Ltd                   LT Bk Fac          CARE B+        400     -
Shaktigarh Textile & Industries Ltd   LT Bk Fac          CARE BB        241.6   Revised from
                                                                                CARE BB+
(reduced from 28.16 Crore)
Shamji Kangad And Company             LT Bk Fac          CARE BB-       125     Revised from
                                                                                CARE B+
Shanay Renewable Ltd                  LT BkFac           CARE BBB       1039.4  Assigned
Shannon And Shannon                   LT Bk Fac          CARE BB-       120     Assigned
Shannon And Shannon                   LT / ST Bk Fac     CARE BB-/A4    10      Assigned
Shapers Constructions Ltd             LT Bk Fac          CARE BBB-      10      Reaffirmed
Shikhar Microfinance Pvt Ltd          LT BkFac           CARE BB        500     -
Issuer not cooperating
Shiksha Bharti Educational Society    LT Bk Fac          CARE B         105.3   Revised from
                                                                                CARE B+
Shree Automotive Pvt Ltd              LT Bk Fac          CARE BBB       1525    Assigned
Shree Bhawani Lumbers                 LT / Shortterm Bk  CARE B+/A4     135     -
                                      Fac
Issuer not cooperating
Shree Mangal Proteins Ltd             LT Bk Fac          CARE BB        289.6   Reaffirmed
Shri Salasar Agro Processors          LT Bk Fac          CARE B+        197     Revised from
                                                                                CARE B
Issuer not cooperating,(Enhanced from Rs.7 crore Crore)
Shri Saraswati Trading Company        LT Bk Fac          CARE B+        15      Assigned
Shri Shyam Ispat (India) Pvt. Ltd     LT Bk Facility     CARE A         340     Reaffirmed
(enhanced from 20.00 Crore)
Siddha Real Estate Development Pvt LtdLT BkFac           CARE BBB       731.5   Continues to
                                                                                be on credit
                                                                                watch with
Developing implications
(reduced from 77.86 Crore)
Sikka Motors Pvt Ltd                  LT Bk Fac          CARE BB-       490     Revised from
                                                                                CARE B
Singhal Enterprises Pvt. Ltd          LT Bk Facility     CARE A         690     Reaffirmed
(enhanced from 35.00 Crore)
Sinnar Taluka Vibhagiya Sahakari Dudh LT Bk Fac          CARE B+        91.6    Reaffirmed
Utpadak And Prakriya Sangh Ltd
Skeiron Renewable Energy Kustagi Ltd  LT Bk Fac          CARE BBB       2716.6  Assigned
Skipper Ltd                           LT Bk Fac          CARE A         6046.2  Reaffirmed
(enhanced from 556.12 Crore)
Skipper Ltd                           Long/ST BkFac      CARE A/A1      14000   Reaffirmed
Skyways Air Services Pvt Ltd          LT Bk Fac          CARE BBB+      830     Assigned
Smc Infrastructure Pvt Ltd            LT Bk Fac (Fund    CARE A-        912.5   Reaffirmed
                                      Based CC Limits)
(enhanced from 61.25 Crore)
South India Corpn Pvt Ltd             LT Bk Fac          CARE A         1650    Reaffirmed
(enhanced from Rs.130 crore Crore)
South India Corpn Pvt Ltd             LT/ST BkFac        CARE A/A1      1879    Reaffirmed
(enhanced from Rs.147.90 crore Crore)
Sowil Ltd                             LT Bk Fac          CARE BB+       70      Reaffirmed
Spectra Realcon Llp                   LT Bk Fac          CARE D         162.4   -
Issuer not cooperating
Sri Balaji Vidyapeeth                 LT Bk Fac          CARE BB+       191     Reaffirmed
Sri Shankara Cancer Foundation        LT Bk Fac- TL#     -              -       Withdrawn
Sri Shankara Cancer Foundation        LT Bk Fac- LOC#    -              -       Withdrawn
Sri Shankara Cancer Foundation        LT Bk Fac          CARE BBB       120.5   Revised from
                                                                                CARE BBB-,
                                                                                Stable (Triple B
Minus
(Reduced from Rs. 22 crore Crore)
Sri Vengamamba Hotels And Resorts     Long -term BkFac   CARE BB-       47.5    -
Issuer not cooperating
Srm Hotels Pvt Ltd                    LT Bk Fac          CARE BB-       732.9   Revised from
                                                                                CARE B+
Standard Casting Pvt Ltd              LTBk Fac           CARE B         40      -
Issuer not cooperating
Standard Casting Pvt Ltd              LT/STBk Fac        CARE B/A4      70      -
Issuer not cooperating
Steel Forge And Cast Industries       LT/ Shortterm Bk   CARE BB+/A4+   60      Revised from
                                      Fac                                       CARE BB
Sumeru Microwave Communications Pvt   LT Bk Fac          CARE B+        47.8    -
Ltd
Issuer not cooperating
Sun Polytex Pvt Ltd                   LT Bk Fac          CARE BBB+      -       Revised from
                                                                                CARE BBB+
Sun Polytex Pvt Ltd                   LT/ST BkFac        CARE BBB+/A2   100     Revised from
                                                                                CARE BBB+
Sun-N-Sand Hotels Pvt Ltd             LT Bk Fac          CARE AA-       7.7     Reaffirmed
Talettutayi Solar Projects Pvt Ltd    LT Bk Fac          CARE BBB       590.6   Reaffirmed
(enhanced from Rs.53.35 crore Crore)
Talettutayi Solar Projects Six Pvt LtdLT Bk Fac          CARE BBB       590.6   Reaffirmed
(enhanced from Rs.53.35 crore Crore)
Taneja Aerospace And Aviation Ltd     LT Bk Fac          CARE C         361     Revised from
                                                                                CARE D
Tata Steel Bsl Ltd                    LT Bk Fac - TL     CARE AA        190000  Reaffirmed
(reduced from 21,000.00 Crore)
Tata Steel Bsl Ltd                    LT/ST Bk Fac -     CARE AA/A1+    50000   -
                                      Fund based/Nonfund
                                      based
Teach For India Education And ResearchLT Bk Fac          CARE BBB-      79.5    Reaffirmed
Samiti
(reduced from Rs.10.10 crore Crore)
Teemage Builders Pvt Ltd              LT Bk Fac          CARE BBB-      982.8   Reaffirmed
(decreased from 100.00 Crore)
Texspin Bearings Ltd                  LT Bk Fac          -              -       Withdrawn
The All India Federation Of EducationaLT Bk Fac          CARE BBB-      170     Reaffirmed
Association
The Andhra Pradesh Mineral DevelopmentIssuer Rating      CARE AA (Is)   -       Reaffirmed
Corporation Ltd
The Motwane Manufacturing Company Pvt LT Bk Fac          CARE BBB-      62.5    Reaffirmed
Ltd
The Nagpur Pallottine Society         LT Bk Fac          CARE BB        45.7    Reaffirmed
 (reduced from Rs. 362.50 crore Crore)
The Punjab State Co-Operative Supply  LT Bk Fac          CARE BB+       7500    Reaffirmed
And Marketing Federation Ltd (Markfed)
Tp Ajmer Distribution Ltd             LT BkFac           CARE A/(Single 1000    Assigned
                                                         A/Outlook: /)
Tractors India Pvt Ltd                LT Bk Fac          -              -       Withdrawn
Tractors India Pvt Ltd                Long/ST Bk Fac     -              -       Withdrawn
Trinayani Cement Pvt Ltd              LT Bk Fac          CARE BB+       100     Reaffirmed
U.B. Cotton Pvt Ltd                   Long/ST BkFac      CARE BBB/CARE  370     Reaffirmed
                                                         A3+ (Triple
                                                         B/Outlook: /A Three Plus)
(reduced from 42.00 Crore)
Ual Industries Ltd                    LT Bk Fac          CARE A+        785     Revised from
                                                                                CARE A
Um Cables Ltd                         LT Bk Fac          CARE BBB+      432.9   Reaffirmed
V.R.K. Associates Pvt Ltd             LT BkFac           CARE B-        120     Revised from
                                                                                CARE D
V.Sathyamoorthy & Co                  LT Bk Fac          CARE BB+       250     Reaffirmed
Vardhman Textile Components Ltd       LT Bk Fac          CARE BBB+      133.5   Revised from
                                                                                CARE BBB
(reduced from 14.04 Crore)
Vasantha Industries Ltd               LT BkFac           CARE BBB-      1731.2  Reaffirmed
(reduced from 193.28 Crore)
Vbs Textiles Pvt Ltd                  LT Bk Fac          CARE B+        410     Reaffirmed
(reduced from 44.00 Crore)
Venus Pipes And Tubes Pvt Ltd         LT Bk Fac          CARE BB-       153.1   -
Issuer not cooperating
Vijay Ship Breaking Corporation       LT/ STBk Fac       CARE BB/A4     45      Reaffirmed
                                                         (Double
                                                         B/Outlook: /A Four)
Vijay Solvex Ltd                      LT Bk Fac          CARE BBB-      270     Reaffirmed
Vinayak Education Society             LT Bk Fac          CARE BB        76      -
Issuer not cooperating
Visakha Container Terminal Pvt Ltd    LT Bk Fac          CARE A-        2387.6  Reaffirmed
(reduced from 274.11 Crore)
Visakha Container Terminal Pvt Ltd    Long/ST BkFac      CARE A-/A2     496.6   Reaffirmed
(enhanced from 18.00 Crore)
Vishakha Renewables Pvt Ltd           LT Bk Fac          CARE BBB- (SO) 378.5   Reaffirmed
(reduced from 39.79 Crore)
Vishakha Renewables Pvt Ltd           LT / STBk Fac      CARE BBB-      80      Reaffirmed
                                                         (SO)/A3 (SO)
(reduced from 18.00 Crore)
Vyankatesh Metals And Alloys Pvt Ltd  LT Bk Fac          CARE B         45      “Issuer not
                                                                                cooperating
Issuer not cooperating
Western Andhra Tollways Ltd           LT BkFac           -              -       Withdrawn
Western Andhra Tollways Ltd           NCDs               CARE AA+(SO)   935     Revised from
                                                                                CARE AA-
Yantra Kaushalya Engineers Pvt Ltd    LT Bk Fac          -              -       Withdrawn
Yantra Kaushalya Engineers Pvt Ltd    LT / ST Bk Fac     -              -       Withdrawn
Yantra Kaushalya Engineers Pvt Ltd    ST Bk Fac          -              -       Withdrawn
Yarrow Infrastructure Pvt Ltd         LT Fac             CARE BBB+      5183.5  Reaffirmed
(reduced from 536.50 Crore)
Yash Appliances                       LT Bk Fac          CARE BBB-      80      Reaffirmed
Zonac Knitting Machines Pvt Ltd       LT Bk Fac          CARE BBB+      186.3   Reaffirmed
Zonac Knitting Machines Pvt Ltd       Long / ST Bk Fac   CARE BBB+/A2   40      Reaffirmed
--------------------------------------------------------------------------------------------
$: 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)

Source: in.reuters

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Anand Gupta Editor - EQ Int'l Media Network