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Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for
local debt instruments as of January 24, 2020.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------- ---------- ------ ------- ---------
SHORT TERM RATINGS:
-------------------
Abhishek Millennium Contracts Pvt Ltd ST Bk Fac CARE A4+ 200 Reaffirmed
Arvee Electricals And Engineers Pvt ST Bk Fac CARE D 100 -
Ltd
Issuer not cooperating; based on best available information
Anupam Nirman Pvt Ltd ST Bk Fac CARE A4+ 730 -
Issuer not cooperating; based on best available information
B. D Roadways ST BkFac CARE A4 3.0 Revised from
CARE A4+
Issuer not cooperating; based on best available information
B. S. Enterprise ST BkFac CARE A4 3.0 Revised from
CARE A4+
Issuer not cooperating; based on best available information
B. S. Roadways ST BkFac CARE A4 3.0 Revised from
CARE A4+
Issuer not cooperating; based on best available information
B. S. Transport Company ST BkFac CARE A4 3.0 Revised from
CARE A4+
Issuer not cooperating; based on best available information
Bhupinder Singh ST BkFac CARE A4 3.0 Revised from
CARE A4+
Issuer not cooperating; based on best available information
Centuary Fibre Plates Pvt Ltd ST Bk Fac CARE A3+ 11.0 -
Issuer not cooperating; based on best available information
Gautam Exim Ltd ST Bk Fac CARE A4 5.0 Reaffirmed
(Reduced from Rs.10.50 crore Crore)*
Nivik Constructions ST Bk Fac - - Reaffirmed at
CARE A4 and
withdrawn
Piccolo Mosaic Ltd ST Bk Fac - - Reaffirmed at
CARE A3
Withdrawn
Issuer not cooperating; based on best available information
Kailash Electricals STBk Fac CARE A4 110 -
Issuer not cooperating; based on best available information
Parsewar Seeds And Fertilizers ST Bk Fac - - Withdrawn
Mahakali Chandrapur Polytex Pvt Ltd ST BkFac CARE A4 5.60 -
Issuer not cooperating; based on best available information
Nickunj Edm Wires & Consumables Pvt LtST BkFac CARE A4 (A 35.0 Assigned
Four)
Northern Arc 2019 Gl Levante Series A PTC CARE A1+ (SO) 284.7 Assigned
Padma Polymers ST Fac CARE A4 70 Assigned
R. K. Enterprise (Howrah) STBk Fac CARE A4 3.0 Revised from
CARE A4+
Issuer not cooperating; based on best available information
Rattan Kaur ST BkFac CARE A4 3.0 Revised from
CARE A4+
Issuer not cooperating; based on best available information
Shanti Parboiling Industries ST Bk Fac CARE A4 19.2 -
Issuer not cooperating; based on best available information
Shree Malani Foams Pvt Ltd ST Bk Fac CARE A3+ 12.5 -
Issuer not cooperating; based on best available information
T. K Roadlines ST BkFac CARE A4 3.0 Revised from
CARE A4+
Issuer not cooperating; based on best available information
Tejinder Kaur ST BkFac CARE A4 3.0 -
Issuer not cooperating; based on best available information
V2 Innovatives Pvt Ltd ST Bk Fac CARE A4 15.0 Assigned
Zenith Metaplast Pvt Ltd ST Bk Fac CARE A4 (A 180 Reaffirmed
Four)
LONG TERM RATINGS:
-------------------
7 Seas Unit Ii LT Bk Fac - - Reaffirmed at
CARE B+;
Stable and
withdrawn
7 Seas Unit Ii LT/ST Bk Fac - - Reaffirmed at
CARE B+;
Stable/CARE
A4 and withdrawn
Alfa Trust March 2019 Series A PTC CARE A (SO) 17.6 Reaffirmed
Algol Business Systems Pvt Ltd LT Bk Fac CARE BB; Stable9 Assigned
Anupam Nirman Pvt Ltd LT Bk Fac CARE BB+ 200 -
Issuer not cooperating; based on best available information
Arvee Electricals And Engineers Pvt LT Bk Fac CARE D 15.0 -
Ltd
Issuer not cooperating; based on best available information
As Nutra Tech Pvt Ltd LT Bk Fac CARE D 134.0 -
Issuer not cooperating; based on best available information
B. D Roadways Long –term BkFac CARE BB-; 90.7
Stable
Issuer not cooperating; based on best available information
B. S. Enterprise Long –term BkFac CARE BB-; 88.8 -
Stable
Issuer not cooperating; based on best available information
B. S. Roadways Long –term BkFac CARE BB-; 89.9 -
Stable
Issuer not cooperating; based on best available information
B. S. Transport Company Long –term BkFac CARE BB-; 87.7 -
Stable
Issuer not cooperating; based on best available information
Bhupinder Singh LT BkFac CARE BB-; 87.2 -
Stable
Issuer not cooperating; based on best available information
Bmw Iron & Steel Industries Ltd LT Bk Fac CARE D 465.0 Issuer Not
cooperating;
Based on best
available information
Issuer not cooperating; based on best available information
Capri Global Capital Ltd LT Bk Fac CARE A+; 45000 Reaffirmed
Negative
Issuer not cooperating; based on best available information
Centuary Fibre Plates Pvt Ltd LT Bk Fac CARE BBB 115.0 -
Issuer not cooperating; based on best available information
Dayakara Solar Power Pvt Ltd LT BkFac* CARE BBB+ 1996.0 Reaffirmed
(CE); Negative
(reduced from Rs. 211.12 crore Crore)*Based on credit enhancement in the form of a Co-Obligor
Undertaking signed between Mihit Solar Power Private
Limited, Grahati Solar Energy Private Limited (rated CARE BBB+ (CE); Negative) and Dayakara
Solar Power Private Limited (rated CARE BBB+ (CE); Negative) (co-obligors) in favour of each
other as well as the lender, as per which in the event of insufficiency of funds in debt
servicing, the lenders/lender s agent shall utilize the amounts available in surplus account to
meet such shortfall in accordance with the Trust and Retention Account (TRA) Agreement to ensure
debt service by the
due date.
Gautam Exim Ltd LT Bk Fac CARE BB; Stable1 Reaffirmed
Gautam Exim Ltd LT/STBk Fac CARE BB; 275.0 Reaffirmed
Stable/CARE A4
Godavari Concast LT Bk Fac - - Reaffirmed at
CARE B+;
Stable and
Withdrawn
Gomati Ginning Industries LT Bk Fac - - Reaffirmed at
CARE
BB-;Stableand
Withdrawn
Gorakhpur Kasia Tollways Pvt Ltd LT BkFac CARE A+; Stable9 Reaffirmed
Gorakhpur Kasia Tollways Pvt Ltd Long/STBk Fac CARE A+; 352.9 Reaffirmed
Stable/CARE A1+
Grahati Solar Energy Pvt Ltd LT BkFac* CARE BBB+ 3295.7 Reaffirmed
(CE); Negative
(reduced from Rs. 349.15 crore Crore),(Credit Enhancement);
Outlook: Negative],*Based on credit enhancement in the form of a Co-Obligor Undertaking signed
between Mihit Solar Power Private Limited, Grahati Solar Energy Private Limited (rated CARE BBB+
(CE); Negative) and Dayakara Solar Power Private Limited (rated CARE BBB+ (CE); Negative)
(co-obligors) in favour of each other as well as the lender, as per which in the event of
insufficiency of funds in debt servicing, the lenders/lender s agent shall utilize the amounts
available in surplus account to meet such shortfall in accordance with the Trust and Retention
Account (TRA) Agreement to ensure debt service by the due date.
Haigreeva Infratech Projects Ltd LT Bk Fac - - -
Issuer not cooperating; Based on best available information and Withdrawn
Hotel Deepali LT BkFac CARE BB; Stable72.6 Revised from
CARE BB-;
Stable
Issuer Not Cooperating) and
removed from Issuer Not Cooperating
Ifci Ltd LT Bk Fac CARE BBB-; 54000 Reaffirmed
Negative
(reduced from 7,825.00 Crore)
Ifci Ltd LT Instruments CARE BBB-; 20322.7 Reaffirmed
Negative
(reduced from 2,655.00 Crore)
Jsw Energy (Barmer) Ltd LT Bklimits CARE AA- 29566.2 Reaffirmed
Credit watch with Negative Implications.
Kailash Electricals LT BkFac CARE BB-; 10 Revised from
Stable CARE BB
Issuer not cooperating; based on best available information
Laxmi Venkatesh Ginning And Pressing LT Bk Fac CARE B+; Stable77.5 -
Factory
Issuer not cooperating; based on best available information
Lourdes Society For Health Care And LT Bk Fac- TL - - Reaffirmed at
Research CARE BBB;
Outlook Stable
and withdrawn
Lourdes Society For Health Care And LT Bk Fac- - - Reaffirmed at
Research optionally CARE BBB;
convertible debenture Outlook Stable
and
withdrawn
Madhav Cotton Pvt Ltd LT Bk Fac - - Reaffirmed at
CARE B+;
StableOutlook
Stable
and Withdrawn
Madhav Infra Projects Ltd LT BkFac* CARE BBB-; 1688.5 -
Stable
Issuer not cooperating; based on best available information
Madhav Infra Projects Ltd LT/ ST Bk Fac* CARE BBB-; 3740.4 -
Stable/CARE A3
Issuer not cooperating; based on best available information
Mahakali Chandrapur Polytex Pvt Ltd LT BkFac CARE B- 48.6 -
Issuer not cooperating; based on best available information
Mihit Solar Power Pvt Ltd LT BkFac* CARE BBB+ 3623.2 Reaffirmed
(CE); Negative
(reduced from Rs. 383.90 crore Crore),*Based on credit enhancement in the form of a Co-Obligor
Undertaking signed between Mihit Solar Power Private Limited, Grahati Solar Energy Private
Limited (rated CARE BBB+ (CE); Negative) and Dayakara Solar Power Private Limited (rated CARE
BBB+ (CE); Negative) (co-obligors) in favour of each other as well as the lender, as per which
in the event of insufficiency of funds in debt servicing, the lenders/lender s agent shall
utilize the amounts available in surplus account to meet such shortfall in accordance with the
Trust and Retention Account (TRA) Agreement to ensure debt service by the due date.
Narayan Maruti Mahajan LT Bk Fac - - Reaffirmed at
CARE BB-;
Stable and
Withdrawn
Nathella Sampath Jewelry Pvt Ltd LT / ST Bk Fac - - Withdrawn
National Co-Operative Development LT Instruments CARE AA; Stable5000 Assigned
Corporation Bonds (Proposed)
Nickunj Edm Wires & Consumables Pvt LtLT BkFac CARE BB-; 120 Assigned
Stable
Nivik Constructions LT Bk Fac - - Reaffirmed at
CARE BB;
Stable and
withdrawn
Padma Polymers LT Fac CARE B+;Stable 80 Assigned
Paras Foods LT Bk Fac - - Withdrawn
Parsewar Seeds And Fertilizers LT Bk Fac - - Withdrawn
Piccolo Mosaic Ltd LT Bk Fac - - Reaffirmed at
CARE BBB-;
Stable and
Withdrawn
Issuer not cooperating; based on best available information
Piccolo Mosaic Ltd LT/ STBk Fac - - Reaffirmed at
CARE BBB-;
Stable/ CARE A3
Withdrawn
Issuer not cooperating; based on best available information
Pittappillil Agencies LT BkFac CARE B+; Stable200 Revised from
CARE
BB-;Stable
Issuer not cooperating; based on best available information
Proteus Enterprise Pvt Ltd LT Bk Fac - - Withdrawn
Proteus Enterprise Pvt Ltd LT/ST Bk Fac - - Withdrawn
R. K. Enterprise (Howrah) Long –termBk Fac CARE BB-; 78.9 -
Stable
Issuer not cooperating; based on best available information
Radheyshyam Agrawal LT Bk Fac CARE BBB, 59.0 Reaffirmed
Stable
Radheyshyam Agrawal Long/ ST Bk Fac CARE BBB, 591.0 Reaffirmed
Stable/CARE A3+
Rajendra Ispat Pvt Ltd LT Bk Fac CARE B; Stable 265.0 Revised from
CARE B+;Stable
Issuer not cooperating; based on best available information
Rattan Kaur LT BkFac CARE BB-; 84.1 -
Stable
Issuer not cooperating; based on best available information
Ritika Pvt Ltd LT Bk Fac CARE BBB-; 733.0 Reaffirmed
Stable
(enhanced from 48.95 Crore)
Satya Stone Exports LT Bk Fac CARE BB-;Stable92.2 Assigned
Shanti Parboiling Industries LT Bk Fac CARE B; Stable 70.00 Revised from
CARE B+;Stable
Issuer not cooperating; based on best available information
Shree Guru Raghvendra Ginning And LT Bk Fac CARE B; Stable 52.5 -
Pressing
Issuer not cooperating; based on best available information
Shree Malani Foams Pvt Ltd LT Bk Fac CARE BBB 132.5 -
Issuer not cooperating; based on best available information
Sports International LT Bk Fac - - Reaffirmed at
CARE BB;
Stable and
withdrawn
Sports International ST Bk Fac - - Reaffirmed at
CARE A4 and
withdrawn
Sree Parimala Cotton Ginning And LT Bk Fac CARE B+; Stable62.5 -
Pressing Factory
Issuer not cooperating; based on best available information
Sriya Farm LT Bk Fac CARE BB-; 210 Revised from
Stable CARE BB;
Stable
Issuer not cooperating; based on best available information
T. K Roadlines Long –term BkFac CARE BB-; 88.3 -
Stable
Issuer not cooperating; based on best available information
Tab India Granites Pvt Ltd LT/STBk Fac CARE BBB; 250 Assigned
Stable /CARE
A3+
Tejinder Kaur LT BkFac CARE BB-; 87.2 -
Stable
Issuer not cooperating; based on best available information
Tek Travels Pvt Ltd LT Bk Fac CARE BBB+ 100 Rating
reaffirmed
and outlook
revised from Positive to stable
(reduced from Rs.14.50 crore Crore)
Tek Travels Pvt Ltd LT/ST Bk Fac CARE BBB+; 1730 Rating
Stable/CARE A2 reaffirmed
and outlook
revised from Positive to stable
(enhanced from Rs.125 crore Crore)
V2 Innovatives Pvt Ltd LT Bk Fac CARE B+; Stable124.7 Assigned
Vl Farms LT BkFac CARE D 63.7 -
Issuer not co-operating; Based of best available information
Zenith Metaplast Pvt Ltd LT Bk Fac^ - - Withdrawn
^rating is withdrawn based on No Dues Certificate from the bank
Zenith Metaplast Pvt Ltd LT Bk Fac CARE BB; Stable410 Revised from
CARE BB-;
Stable
(reduced from Rs.42.00 Crore)
$: 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) Source: reuters
