Home India CARE ratings for Indian debt instruments-Oct 26
CARE ratings for Indian debt instruments-Oct 26

CARE ratings for Indian debt instruments-Oct 26

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Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of October 23, 2020.


COMPANY                              INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                    (RS.MLN)
-------                              ----------        ------        ------ ---------
SHORT TERM RATINGS:
-------------------
Apollo Polyvinyl Pvt Ltd             ST Bk Fac         CARE D        130    -
(Rating continues to remain under ISSUER NOT COOPERATING category)
Abf Engineering International Pvt Ltd ST Bk Fac        CARE A4;      28     -
(Rating continues to remain under ISSUER NOT COOPERATING category)
Cura Sanitaryware Llp                ST Bk Fac         -             -      -
(Reaffirmed at CARE A4; and Withdrawn)
Deep Plast Industries                ST Bk Fac         CARE A4       50     -
(Rating continues to remain under ISSUER NOT COOPERATING category)
Flash Forge Pvt Ltd                  ST Bk Fac         CARE A3       1170   -
(Rating removed from ISSUER NOT COOPERATING category and Reaffirmed)
Greenland Paper Mills Ltd            ST Bk Fac         CARE A4       14     -
(Issuer not cooperating; Based on best available information)
Luxra Enterprises Pvt Ltd            ST Bk Fac         CARE A4       60     -
(Rating moved to ISSUER NOT COOPERATING category)
Maharashtra State Electricity        ST Bk Fac         CARE A1       12500  Reaffirmed
Transmission Co. Ltd
(Enhanced from 300.00 Crore)
Omkara Business Corporation          ST Bk Fac         CARE A4;      250    -
(Rating moved to ISSUER NOT COOPERATING category)
R B A Construction Pvt Ltd           ST Bk Fac         CARE A4+      65     -
(Rating moved to ISSUER NOT COOPERATING category)
R K Chavan Infrastructure Pvt Ltd    ST Bk Fac         CARE A4;      26.3   -
(Issuer not cooperating; Based on best available information)
Ramesh H Beravat                     ST Bk Fac         CARE A4       20     -
(Rating moved to ISSUER NOT COOPERATING category)
Ravji Manji Sorathia And Company     ST Bk Fac         CARE A4       100    -
(Rating continues to remain under ISSUER NOT COOPERATING category)
S S Infrastructure Development       ST Bk Fac         CARE A4       80     -
Consultants Ltd
(Rating continues to remain under ISSUER NOT COOPERATING category)
Usha Prabha Industries               ST Bk Fac         CARE A4;      2      -
(Issuer not cooperating; Based on best available information)
 


LONG TERM RATINGS:
-------------------
Abf Engineering International Pvt Ltd LT Bk Fac        CARE C; Stable 40.7  -
(Rating continues to remain under ISSUER NOT COOPERATING category)
Abha Sunlight Pvt Ltd                LT Bk Fac         CARE BBB+     681.9  -
                                                       (CE); Stable
(Reaffirmed and Final Rating assigned)
Adani Agri Logistics (Bathinda) Ltd  LT Bk Fac         -             -      -
(Reaffirmed at CARE BBB; Stable and simultaneously withdrawn)
Adani Agri Logistics (Bathinda) Ltd  LT/ ST Bk Fac     -             -      -
(Reaffirmed at CARE BBB; Stable/ CARE A3+ and simultaneously withdrawn)
Adani Agri Logistics (Mansa) Ltd     LT Bk Fac         -             -      -
(Reaffirmed at CARE BBB; Stable and simultaneously withdrawn)
Adani Agri Logistics (Mansa) Ltd     LT/ ST Bk Fac     -             -      -
(Reaffirmed at CARE BBB; Stable/ CARE A3+ and simultaneously withdrawn)
Adani Agri Logistics (Moga) Ltd      LT Bk Fac         -             -      -
(Reaffirmed at CARE BBB; Stable and simultaneously withdrawn)
Adani Agri Logistics (Moga) Ltd      LT/ ST Bk Fac     -             -      -
(Reaffirmed at CARE BBB; Stable/ CARE A3+ and simultaneously withdrawn)
Adani Agri Logistics (Nakodar) Ltd   LT Bk Fac         -             -      -
(Reaffirmed at CARE BBB; Stable and simultaneously withdrawn)
Adani Agri Logistics (Nakodar) Ltd   LT/ ST Bk Fac     -             -      -
(Reaffirmed at CARE BBB; Stable/ CARE A3+ and simultaneously withdrawn)
Adani Agri Logistics (Raman) Ltd     LT Bk Fac         -             -      -
(Reaffirmed at CARE BBB; Stable and simultaneously withdrawn)
Adani Agri Logistics (Raman) Ltd     LT/ ST Bk Fac     -             -      -
(Reaffirmed at CARE BBB; Stable/ CARE A3+ and simultaneously withdrawn)
Agrow Foods                          LT Bk Fac         CARE D        100    -
(Issuer not cooperating; Based on best available information)
Akhilagya Solar Energy Pvt Ltd       LT Bk Fac         CARE BBB+     722.6  -
                                                       (CE); Stable
(Reaffirmed and Final Rating assigned)
Apollo Polyvinyl Pvt Ltd             LT Bk Fac         CARE D        568.8  -
(Rating continues to remain under ISSUER NOT COOPERATING category)
Art Housing Finance (India) Ltd      LT Non-Convertible-             -      Withdrawn
                                     Debentures
Art Housing Finance (India) Ltd      LT Bk Fac         CARE:         500    Reaffirmed
                                                       BB+;Stable
Bindu Vayu Urja Pvt Ltd              LT Bk Fac         CARE A- (CE); 24750  Assigned
                                                       Stable
Bridgestone India Pvt Ltd          Long term/ST Bk Fac CARE BB+;    4730   -
                                                       Stable /CARE
                                                       A4+
(Rating continues to remain under Issuer not cooperating category and Revised from CARE AA+;
Stable/ CARE A1+;)
Cura Sanitaryware Llp                LT Bk Fac         -             -      -
(Reaffirmed at CARE B; Stable and Withdrawn)
Deep Plast Industries                LT Bk Fac         CARE B-       100    -
(Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE B+;
ISSUER NOT COOPERATING)
Flash Forge Pvt Ltd                  LT Bk Fac         CARE BBB-;    480    -
                                                       Stable
(Rating removed from ISSUER NOT COOPERATING category and Reaffirmed)
Greenland Paper Mills Ltd            Long -term Bk Fac CARE BB;      43.1   -
                                                       Stable;
(Issuer not cooperating; Based on best available information)
Izra Solar Energy Pvt Ltd            LT Bk Fac         CARE BBB+     727.5  -
                                                       (CE); Stable
(Reaffirmed and final rating assigned)
Kay Vee Gems                         LT Bk Fac         CARE B; Stable 95    -
(ssuer not cooperating; Revised from CARE BB-; Stable; ISSUER NOT COOPERATIN)
Krishna Export                       LT Bk Fac         CARE B+; Stable 85   -
(Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE BB+;
Stable)
Luxra Enterprises Pvt Ltd            LT Bk Fac         CARE BB-;     55     -
                                                       Stable
(Rating moved to ISSUER NOT COOPERATING category)
Mac Precitec India                   LT Bk Fac         -             -      -
(Reaffirmed at CARE B+; Stable and Withdrawn)
Maharashtra State Electricity        LT Bk Fac         CARE A; Stable 58050 Reaffirmed
Transmission Co. Ltd
 
Mechatronics Systems Pvt Ltd         LT Bk Fac         CARE BB+;     9      -
                                                       Stable
(Issuer not cooperating; Revised from CARE BBB+;Stable)
Nokor Bhoomi Pvt Ltd                 LT Bk Fac         CARE BBB+     724    -
                                                       (CE); Stable
(Reaffirmed and Final Rating assigned)
Nokor Solar Energy Pvt Ltd           LT Bk Fac         CARE BBB+     690    -
                                                       (CE); Stable
(Reaffirmed and Final Rating assigned)
Omkara Business Corporation          LT Bk Fac         CARE B; Stable 237.1 -
(Revised from CARE B+; Stable; and moved to ISSUER NOT COOPERATING category)
R B A Construction Pvt Ltd           LT Bk Fac         CARE BB; Stable 58.3 -
(Rating moved to ISSUER NOT COOPERATING category)
R B A Construction Pvt Ltd           LT / ST Bk Fac    CARE BB;      16.2   -
                                                       Stable/CARE
                                                       A4+;
(Rating moved to ISSUER NOT COOPERATING category)
R K Chavan Infrastructure Pvt Ltd    LT Bk Fac         CARE B; Stable 23.7 -
(Issuer not cooperating; Revised from CARE B+; Stable; ISSUER NOT COOPERATING)
Rajparis Civil Constructions Ltd     LT Medium Term    CARE BB+ (FD);70.4   -
                                     Instruments       Stable
(Rating removed from ISSUER NOT COOPERATING category and Reaffirmed)
Rajparis Civil Constructions Ltd     LT Bk Fac         CARE BB+;     16.5   -
                                                       Stable
(Rating removed from ISSUER NOT COOPERATING category and Reaffirmed)
Ramapriya Solar Energy Pvt Ltd       LT Bk Fac         CARE BB+;     83.6   -
                                                       Stable
(Rating moved to ISSUER NOT COOPERATING category)
Ramesh H Beravat                     LT Bk Fac         CARE B; Stable 54.7  -
(Revised from CARE B+; Stable; and moved to ISSUER NOT COOPERATING category)
Ramesh Singh                         LT Bk Fac         CARE B-; Stable 50   -
(Issuer not cooperating; Revised from CARE B+; Stable; on the basis of best available
information)
Ramky Pharma City (India) Ltd        LT Bk Fac         CARE BBB-;    140    Assigned
                                                       Stable
Ravji Manji Sorathia And Company     LT Bk Fac         CARE B        50     -
(Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE B+)
S S Infrastructure Development       LT Bk Fac         CARE C;       20     -
Consultants Ltd
(Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE BB;
Stable)
S. M. Constructions                  LT Bk Fac         CARE D;       63.9   -
(Issuer not cooperating; Based on best available information)
Shiv Ganesh Industries               LT Bk Fac         CARE B-; Stable 55   -
(Issuer not cooperating; Revised from CARE B; Stable)
Tirupati International               LT Bk Fac         CARE B+;      49.9   -
(Rating continues to remain under ISSUER NOT COOPERATING category and Revised from CARE BB)
Usha Prabha Industries               LT Bk Fac         CARE B-;      48.6   -
                                                       Stable;
(Issuer not cooperating; Revised from CARE B; Stable; ISSUER NOT COOPERATING)
Vedbhumi Builders And Developers Pvt LT Bk Fac         CARE D;       389.4  -
(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.

Source: reuters
Anand Gupta Editor - EQ Int'l Media Network
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