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Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of November 18, 2020. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT (RS.MLN) ------- ---------- ------ ------- --------- SHORT TERM RATINGS: ------------------- Annapurna Agro Foods ST Bk Fac CARE A4 60 - (Rating moved to ISSUER NOT COOPERATING category) Asahi Songwon Colors Ltd ST Bk Fac CARE A1+ 420 Reaffirmed C&S Himoinsa Pvt Ltd ST Bk Fac CARE A3 50 - (Continues to be on credit watch with developing implications) Future Supply Chain Solutions Ltd ST Bk Fac CARE A4 220 Revised from CARE A4+ (Revision in credit watch from Developing Implications to Negative Implications) G R Infraprojects Ltd CP (carved out of CARE A1+ 1000 Assigned working capital limits) Hi-Technocrats Pvt Ltd ST Bk Fac CARE A4 130 Reaffirmed Indexport Leather Export Pvt Ltd ST Bk Fac CARE A4 50 - (Rating moved to ISSUER NOT COOPERATING category) J.J. Glastronics Pvt Ltd ST Bk Fac CARE A4+ 370 Reaffirmed Kovai Kalaimagal Educational Trust ST Bk Fac CARE D 1.4 - (Rating continues to remain under ISSUER NOT COOPERATING category) London Star Diamond Company (India) ST Bk Fac CARE D 128.5 - Pvt Ltd (Rating continues to remain under ISSUER NOT COOPERATING category) Maruthi Garments ST Bk Fac CARE A4 100 - (Rating continues to remain under ISSUER NOT COOPERATING category) Pulkit Holdings Pvt Ltd ST Bk Fac CARE A4+ 100 Reaffirmed Sachdev Food Products ST Bk Fac CARE A4 100 Reaffirmed Sachdev Food Products Pvt Ltd ST Bk Fac CARE A4 100 Reaffirmed Shiv Hari Plywood Pvt Ltd ST Bk Fac CARE A4 17 - (Rating continues to remain under ISSUER NOT COOPERATING category) Subhang Capsas Pvt Ltd ST Bk Fac CARE A4 17.5 Assigned Terna Public Charitable Trust ST Bk Fac - - Reaffirmed and Withdrawn (Rating continues to remain under ISSUER NOT COOPERATING category) Viral Corporation India Pvt Ltd ST Bk Fac CARE A4 60 - (Rating continues to remain under ISSUER NOT COOPERATING category) LONG TERM RATINGS: ------------------- Annapurna Agro Foods LT Bk Fac CARE B-;Stable43.6 Revised from CARE B; Stable (Rating moved to ISSUER NOT COOPERATING category) Arbind Cold Storage Pvt Ltd LT Bk Fac CARE B-;Stable51.9 Revised from CARE B; Stable (Rating moved to ISSUER NOT COOPERATING category) Armada 98/2 Pte Ltd. Fund based - LT BkCARE BBB-; 66448.5Reaffirmed Fac Stable Asahi Songwon Colors Ltd LT Bk Fac CARE AA-; 162.5 Reaffirmed Stable Asahi Songwon Colors Ltd LT / ST Bk Fac CARE AA-; 660 Reaffirmed Stable /CARE A1+ C&S Himoinsa Pvt Ltd LT Bk Fac CARE BBB- 50 - (Continues to be on credit watch with developing implications) Cabs India Tours And Travels Pvt Ltd LT Bk Fac CARE B+;Stable47.6 - (Rating moved to ISSUER NOT COOPERATING category) Ceejay Finance Ltd LT Bk Fac CARE BBB-; 150 Reaffirmed Stable Essel Bagalkot Solar Energy Pvt Ltd LT Bk Fac - - Withdrawn Essel Gulbarga Solar Power Pvt Ltd LT Bk Fac - - Withdrawn Future Supply Chain Solutions Ltd LT Bk Fac CARE BB- 1470 Revised from CARE BB+ (Revision in credit watch from Developing Implications to Negative Implications) Future Supply Chain Solutions Ltd NCD CARE BB- 1990 Revised from CARE BB+ (Revision in credit watch from Developing Implications to Negative Implications) G R Infraprojects Ltd LT Bk Fac CARE AA;Stable2500 Revised from CARE AA-; Positive G R Infraprojects Ltd LT / ST Bk Fac CARE AA; 34000 Revised from Stable /CARE CARE AA-; A1+ Positive / CARE A1+ Gokul Dairy Products LT Bk Fac CARE BB-; 140 Assigned Stable Hampson Industries Pvt Ltd LT Bk Fac CARE D 210 Reaffirmed Hi-Technocrats Pvt Ltd LT Bk Fac CARE BB-; 35 Reaffirmed Stable Hi-Technocrats Pvt Ltd LT / ST Bk Fac CARE BB-; 15 Reaffirmed Stable /CARE A4 Indexport Leather Export Pvt Ltd LT Bk Fac CARE B-;Stable89 - (Rating moved to ISSUER NOT COOPERATING category) J.J. Glastronics Pvt Ltd LT Bk Fac CARE BB+; 127.3 Reaffirmed Stable Jakson Power Pvt Ltd LT Bk Fac - - Reaffirmed and Withdrawn Kirtiman Cements & Packaging LT Bk Fac CARE B- 270 Revised from Industries Ltd CARE B (Rating continues to remain under ISSUER NOT COOPERATING category) Kovai Kalaimagal Educational Trust LT Bk Fac CARE D 56.6 - (Rating continues to remain under ISSUER NOT COOPERATING category) London Star Diamond Company (India) LT / ST Bk Fac CARE D /CARE D108 - Pvt Ltd (Rating continues to remain under ISSUER NOT COOPERATING category) Magic Wires Pvt Ltd LT Bk Fac CARE B 150 Revised from CARE B+ (Rating continues to remain under ISSUER NOT COOPERATING category) Maruthi Garments LT Bk Fac CARE B 3.3 Revised from CARE B+ (Rating continues to remain under ISSUER NOT COOPERATING category) Nnt Developers Pvt Ltd LT Bk Fac CARE BB;Stable50 Assigned Nnt Developers Pvt Ltd LT Bk Fac CARE BB;Stable100 Revised from CARE B+; Stable (Rating removed from ISSUER NOT COOPERATING category) Nnt Developers Pvt Ltd LT / ST Bk Fac CARE BB; 350 Revised from Stable /CARE A4 CARE B+; Stable/ CARE A4 (Rating removed from ISSUER NOT COOPERATING category) Pawan Autowheels Pvt Ltd LT Bk Fac CARE B- 111.5 Revised from CARE B (Rating continues to remain under ISSUER NOT COOPERATING category) Ramkrupa Ginning And Pressing Pvt LtdLT Bk Fac CARE B+;Stable200 - (Rating moved to ISSUER NOT COOPERATING category) Sachdev Food Products LT Bk Fac CARE BB-; 40 Reaffirmed Stable Sachdev Food Products LT / ST Bk Fac CARE BB-; 40 Reaffirmed Stable /CARE A4 Sachdev Food Products Pvt Ltd LT Bk Fac CARE BB-; 40 Reaffirmed Stable Sachdev Food Products Pvt Ltd LT / ST Bk Fac CARE BB-; 40 Reaffirmed Stable /CARE A4 Shiv Hari Plywood Pvt Ltd LT Bk Fac CARE B- 58 Revised from CARE B (Rating continues to remain under ISSUER NOT COOPERATING category) Shree Rama Newsprint Ltd LT Bk Fac CARE BB+ 1548.4 - (Placed under Credit Watch with Developing Implications) Shree Rama Newsprint Ltd LT/ ST Bk Fac CARE BB+ /CARE60 - A4+ (Placed under Credit Watch with Developing Implications) Shree Rama Newsprint Ltd LT Bk Fac @ CARE BBB- (CE)25.6 Revised from CARE BBB (CE); Negative (Placed under Credit Watch with Developing Implications)/@ Bank facilities are backed by the unconditional and irrevocable corporate guarantee of Riddhi Siddhi Gluco Biols Limited Shri Krishnashray (India) Pvt Ltd LT Bk Fac CARE C; Stable100.9 - (Rating continues to remain under ISSUER NOT COOPERATING category) Sree Lakshmi Gayatri Hospitals Pvt LT Bk Fac CARE B 1600 Revised from Ltd CARE D (Placed on Credit watch with Developing Implications) Subhang Capsas Pvt Ltd LT Bk Fac CARE B+;Stable166.5 Revised from CARE B; Stable (Rating removed from ISSUER NOT COOPERATING category) Sujitha Poultry Farm LT Bk Fac CARE B-;Stable50 Revised from CARE B; Stable (Rating continues to remain under ISSUER NOT COOPERATING category) Tara Jewels Ltd LT / ST Bk Fac - - Withdrawn Terna Public Charitable Trust LT Bk Fac - - Reaffirmed and Withdrawn (Rating continues to remain under ISSUER NOT COOPERATING category) Viral Corporation India Pvt Ltd LT Bk Fac CARE B-;Stable65 Revised from CARE B; Stable (Rating continues to remain under ISSUER NOT COOPERATING category) -------------------------------------------------------------------------------------------- $: 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)
