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CARE ratings for Indian debt instruments-Oct 9

    Oct 9  - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of October 8, 2020.


COMPANY                               INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                       (RS.MLN)
-------                               ----------         ------        -------  ---------
SHORT TERM RATINGS:
-------------------
Aym Syntex Ltd                        ST Bk Fac (Fund    CARE A2+       790     Revised from
                                      Based)                                    CARE A1
( enhanced from 65.00 Crore)
Aym Syntex Ltd                        ST Bk Fac (Non     CARE A2+       2510    Revised from
                                      Fund Based)                               CARE A1
(enhanced from 210.00 Crore)
Alpha Marine                          ST Bk Fac          -              0       Withdrawn
Baba Super Minerals Pvt Ltd           ST Bk Fac          CARE A4        78      Assigned
Bvg India Ltd                         ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A3+ and
                                                                                Withdrawn
Dhariwal Infrastructure Ltd           ST Bk Fac          CARE A3        750     Reaffirmed
Ecap Equities Ltd                     ST                 CARE PP-MLD A1+2000    Re-affirmed
                                      PrincipalProtected
                                      Market Linked Debenture
Ecl Finance Ltd                       CP (IPO Financing) CARE A1+       50000   Reaffirmed
Ecl Finance Ltd                       CP                 CARE A1+       50000   Reaffirmed
Edelweiss Asset Reconstruction CompanyCP                 CARE A1+       3000    Re-affirmed
Edelweiss Custodial Services Ltd      ST Bk Fac          CARE A1+       15000   Reaffirmed
Edelweiss Finance And Investment Ltd  CP                 CARE A1+       10000   Reaffirmed
Edelweiss Finance And Investment Ltd  CP (IPO Financing) CARE A1+       25000   Reaffirmed
Edelweiss Financial Services Ltd      CP                 CARE A1+       10000   Reaffirmed
Edelweiss Housing Finance Ltd         CP                 CARE A1+       10000   Reaffirmed
Edelweiss Retail Finance Ltd          CP                 CARE A1+       5000    Reaffirmed
Edelweiss Rural And Corporate ServicesST Bk Fac-Non Fund CARE A1+       1800    Reaffirmed
Ltd                                   Based@
@The said instrument has been transferred from Edelweiss Agri Value Chain Limited to Edelweiss
Rural & Corporate Services Limited (Erstwhile Edelweiss Commodities Services Limited) as per the
scheme of amalgamation.
Edelweiss Rural And Corporate ServicesCP                 CARE A1+       85000   Reaffirmed
Ltd
Edelweiss Rural And Corporate ServicesCP (IPO Financing) CARE A1+       60000   Reaffirmed
Ltd
Edelweiss Securities Ltd              CP                 CARE A1+(A One 10000   Reaffirmed
                                                         Plus)
Gencor Pacific Auto Engineering Pvt LtST Bk Fac          CARE A4        6.9     Reaffirmed
                                      (ILC/FLC and BG)
Hindalco Industries Ltd               ST Bk Fac TL       -              -       Withdrawn*
(reduced from 1,000.00 Crore)/*withdrawn as the company does not plan to raise the proposed
short term loan
Hindalco Industries Ltd               CP (CP) issue      CARE A1+       10000   Reaffirmed
                                      (Standalone)
Housing Development Finance CorporatioCP Issue           CARE A1+       750000  Reaffirmed
Ltd
Housing Development Finance CorporatioST Bk Fac          CARE A1+       498229.5Reaffirmed
Ltd
Indostar Capital Finance Ltd          CP                 CARE A1+       20000   Reaffirmed
Indostar Home Finance Pvt Ltd         CP                 CARE A1+       2000    Reaffirmed
Jamipol Ltd                           ST Bk Fac          CARE A1+       10      Reaffirmed
Kaze Energy Ltd                       ST Fund based      -              -       -
                                      BkFac - Working
                                      Capital Demand loan
Placed on credit watch with developing implications and withdrawn
Kalyani Steels Ltd                    ST Bk Fac          CARE A1+       5000    Reaffirmed
Kalyani Steels Ltd                    CP - Proposed      CARE A1+       750     Reaffirmed
Kreedai Exim                          ST Bk Fac          -              -       Reaffirmed at
                                                                                CARE A4 
                                                                                and Withdrawn
Ksh International Pvt Ltd             ST Bk Fac          CARE A2        90      Reaffirmed
L&T Finance Holdings Ltd              CP                 CARE A1+       25000   Reaffirmed
L&T Finance Ltd                       CP                 CARE A1+       185000  Reaffirmed
L&T Housing Finance Ltd               CP                 CARE A1+       50000   Reaffirmed
L&T Infrastructure Finance Co. Ltd    CP                 CARE A1+       110000  Reaffirmed
L&T Infrastructure Finance Co. Ltd    CP                 CARE A1+       110000  Reaffirmed
Liberty Shoes Ltd                     ST Bk Fac          CARE A2        635     Revised from
                                                                                CARE A2+
(Enhanced from 47.64 Crore)
Madhusudan Agrawal                    ST Bk Fac          CARE A4;       60      rating
                                                                                putunder INC
(Issuer Not Cooperating)
Maithan Alloys Ltd                    ST BkFac           CARE A1+       4350    Reaffirmed
Merge Stones                          ST Bk Fac          CARE A4;       40
(Issuer Not Cooperating)
Nacl Industries Ltd                   Short- term Bk Fac CARE A2        720     Reaffirmed
(Enhanced from 58.00 Crore)
Ostro Madhya Wind Pvt Ltd             LT Bk Fac –          -            0       Withdrawn^
^CARE has withdrawn the rating assigned to the cash credit facility of all the 7 SPVs in the
co-borrower structure with immediate effect, as the company has repaid the aforementioned
facility in full and there is no amount outstanding as on date. 
Prem Industries                       ST BkFac           CARE A3        19      Reaffirmed
Reliance Jio Infocomm Ltd             CP                 CARE A1+       350000  -
Sian Infra And Realcon Llp            ST Bk Fac          CARE A4        340     Reaffirmed
                                                                                and removed
                                                                                from INC
Sunshine Tiles Company Pvt Ltd        ST Bk Fac          CARE A2        407.2   Reaffirmed
(Reduced from 51.52 Crore)
Talbros Engineering Ltd               ST Bk Fac          CARE A2        628     Reaffirmed
(enhanced from 57.80 Crore)
Tata Teleservices Ltd.                ST Bk Fac-BG       CARE A1+       765     Reaffirmed
(reduced from 102.00 Crore)
Tata Teleservices Ltd.                CP                 CARE A1+       85000   Reaffirmed
 
 
MEDIUM TERM RATINGS:
-------------------
L&T Housing Finance Ltd               Medium Term        CARE AAA (FD); 1000    Reaffirmed
                                      Instrument- Fixed  Stable
                                      Deposit
 

LONG TERM RATINGS:
-------------------
Aarish Solar Power Pvt Ltd            NCDs*              CARE AA (CE);  2655    Revised
                                                         Stable                 fromCARE AA-
                                                                                (CE); Stable
(reduced from 270.00 Crore)/*The above rating is based on credit enhancement in the form of
financial support arrangement for debt servicing among the 10 solar power SPVs promoted by
greenko group
Aashman Energy Pvt Ltd                NCDs*              CARE AA (CE);  2655    Revised
                                                         Stable                 fromCARE AA-
                                                                                (CE); Stable
(reduced from 270.00 Crore)/*The above rating is based on credit enhancement in the form of
financial support arrangement for debt servicing among the 10 solar power SPVs promoted by
greenko group
Akshar Cotton Industries              LT Bk Fac          CARE D         100     Reaffirmed
Alland & Sayaji Llp                   LT Bk Fac          CARE BBB-      18.6    Reaffirmed
                                                         (CE); Stable
(Reduced from 3.19 Crore)
Alland & Sayaji Llp                   LT / ST BkFac      CARE BBB-      30      Reaffirmed
                                                         (CE);
                                                         Stable/CARE A3 (CE)
Alliance One Industries India Pvt Ltd LT / Shortterm Bk  CARE BBB-;     710     Reaffirmed
                                      Fac                Stable /CARE A3
Alpha Marine                          LT/ST Bk Fac       -              0       Withdrawn
Alpha Marine                          LT Bk Fac          -              0       Withdrawn
Antech Construction Company           LT Bk Fac          CARE BB-;      170     Assigned
                                                         Stable
Antech Construction Company           LT / ST Bk Fac     CARE BB-;      150     Assigned
                                                         Stable /CARE A4
Aryamaan Developers Pvt Ltd           LT Bk Fac          CARE BB+;      1587    Reaffirmed,
                                                         Positive               and removed
                                                                                from INC
outlook revised from stable to Positive/(Reduced from 159.90 Crore)
Avp Powerinfra Pvt Ltd                LT BkFac –         -              0       Withdrawn^
                                      CashCredit
^CARE has withdrawn the rating assigned to the cash credit facility of all the 7 SPVs in the
co-borrower structure with immediate effect, as the company has repaid the aforementioned
facility in full and there is no amount outstanding as on date.
Avp Powerinfra Pvt Ltd                LT BkFac –         CARE A- (CE)   1275.7  -
                                      TermLoan@
Rating continues to be under credit watch with negative implications /(reduced from 133.49
Crore)  /@ Structured payment mechanism in the form of waterfall payment mechanism as per which
in case of shortfall in funds in any TRA Account the co-borrowers shall infuse funds from other
TRA accounts to fund the shortfall in the relevant TRA account as per the terms of the relevant
TRA agreement.
Aym Syntex Ltd                        LT Bk Fac (TL)     CARE A-; Stable1817.6  Revised from
                                                                                CARE A;Stable
(reduced from 207.20 Crore)
B & A Ltd                             LT Bk Fac          -              0       Withdrawn
B & A Ltd                             LT Bk Fac          CARE BBB;      560     Revised from
                                                         Stable                 CARE BBB+;
                                                                                Stable
(Reduced from 56.08 Crore)
Baba Super Minerals Pvt Ltd           LT Bk Fac          CARE BB-;      192.5   Reaffirmed
                                                         Stable                 and removed
                                                                                from INC
(Reduced from 19.58 Crore)
Baba Super Minerals Pvt Ltd           LT / ST Bk Fac     CARE BB-;      250     Reaffirmed
                                                         Stable /CARE A4        and removed
                                                                                from INC
(Enhanced from 9.25 Crore)
Badoni Power Pvt Ltd                  LT BkFac –         -              0       Withdrawn^
                                      CashCredit
^CARE has withdrawn the rating assigned to the cash credit facility of all the 7 SPVs in the
co-borrower structure with immediate effect, as the company has repaid the aforementioned
facility in full and there is no amount outstanding as on date.
Badoni Power Pvt Ltd                  LT BkFac –         CARE A- (CE)   1368.1  -
                                      TermLoan@
Rating continues to be under credit watch with negative implications /(Reduced from 143.30
Crore)/@ Structured payment mechanism in the form of waterfall payment mechanism as per which in
case of shortfall in funds in any TRA Account the co-borrowers shall infuse funds from other TRA
accounts to fund the shortfall in the relevant TRA account as per the terms of the relevant TRA
agreement
Badoni Power Pvt Ltd                  LT BkFac –         CARE A+ (CE);  297.4   Reaffirmed
                                      TermLoan*          Stable
(Reduced from 31.01 Crore)/* Rating backed by unconditional and irrevocable corporate guarantee
from Renew Power Private Limited (RPPL, rated CARE A+; Stable/CARE A1+) available for the full
tenure of the facility.
Brace Iron & Steel Pvt Ltd            LT Bk Fac          CARE A-;       5500.2  Revised from
                                                                                CARE A; Stable
put on credit watch with negative implications /(reduced from 626.11 Crore)
Bvg India Ltd                         LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE
                                                                                BBB+;Positive
                                                                                and Withdrawn
Bvg India Ltd                         LT / ST BkFac      -              -       Reaffirmed at
                                                                                CARE
                                                                                BBB+;Positive / 
                                                                                CARE A3+ and 
                                                                                Withdrawn
Chaman Lal Setia Exports Ltd          LT/ ST BkFac       -              -       Reaffirmed at
                                                                                CARE A-;
                                                                                Stable/CARE A2
                                                                                + and Withdrawn
Darbhanga Motihari Transmission Co. LtNCD issue          CARE AAA;      7424
Continues to be on credit watch /(Reduced from 770.00 Crore)
Dhariwal Infrastructure Ltd           LT Bk Fac          CARE BBB;      29763   Reaffirmed
                                                         Stable
(Reduced from 3,321.00 Crore)
Dhunseri Tea & Industries Ltd         LT Bk Fac          CARE A+; Stable90      Assigned
Dhunseri Tea & Industries Ltd         LT Bk Fac          CARE A+; Stable1066.9  Reaffirmed
Divyesh Power Pvt Ltd                 NCDs*              CARE AA (CE);  2655    Revised
                                                         Stable                 fromCARE AA-
                                                                                (CE); Stable
(reduced from 270.00 Crore)/The above rating is based on credit enhancement in the form of
financial support arrangement for debt servicing among the 10 solar power SPVs promoted by
greenko group
Ecap Equities Ltd                     Principal          CARE PP-MLD    8000    Revised
                                      Protected Market   A+; Stable             fromCARE
                                      Linked Debenture                          PP-MLD AA-;
                                                                                Negative
Ecl Finance Ltd                       Retail Bonds       -              -       Withdrawn
Ecl Finance Ltd                       LT Bk Fac          CARE A+;       126866.6Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
Ecl Finance Ltd                       NCDs               CARE A+;       4468.3  Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
(reduced from 1,711 Crore)
Ecl Finance Ltd                       Subordinate Debt   CARE A+;       9500    Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
(reduced from 1400 Crore)
Ecl Finance Ltd                       Principal          CARE A+;       2019.8  Revised from
                                      protected          Stable                 CARE PP-MLD
                                      Marketlinked Debenture                    AA-; Negative
(reduced from 203.28 Crore)
Ecl Finance Ltd                       NCDs (Public Issue)CARE A+;       10000   Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
Ecl Finance Ltd                       NCDs               CARE A+;       10000   Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
Ecl Finance Ltd                       NCDs               CARE A+;       11040   Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
Ecl Finance Ltd                       Principal          CARE PP-MLD    3000    Revised from
                                      protected          A+; Stable             CARE PP-MLD
                                      Marketlinked Debenture                    AA-; Negative
Edelweiss Asset Reconstruction CompanyLT Bk Fac          CARE A (CE);   1282.5  Revised from
                                                         Stable #               CARE A+ (CE);
                                                                                Negative #
#The above ratings are backed by a letter of comfort issued by Edelweiss Financial Services Ltd.
(EFSL)
Edelweiss Asset Reconstruction CompanyNCDs               CARE A+ (CE);  902.5   Revised from
                                                         Stable *               CARE AA-
                                                                                (CE); Negative *
*The above rating is backed by an unconditional and irrevocable corporate guarantee issued by
Edelweiss Financial Services Ltd. (EFSL)
Edelweiss Asset Reconstruction CompanyPrincipal          CARE PP-MLD A+ 5000    Revised from
                                      Protected Market   (CE); Stable *         CARE PP-MLD
                                      Linked Debentures (PP-MLD)                AA- (CE); 
                                                                                Negative *
*The above rating is backed by an unconditional and irrevocable corporate guarantee issued by
Edelweiss Financial Services Ltd. (EFSL)
Edelweiss Asset Reconstruction CompanyPrincipal          CARE PP-MLD    5825    Revised from
                                      Protected Market   A+(CE); Stable         CARE PP-MLD
                                      Linked Debentures                         AA- (CE);
                                                                                Negative *
(reduced from 595.50 crore Crore)/*The above rating is backed by an unconditional and
irrevocable corporate guarantee issued by Edelweiss Financial Services
Ltd. (EFSL)
Edelweiss Asset Reconstruction CompanyLT Bk Fac          Prov CARE A    2200    Revised from
                                                         (CE); Stable #         Prov CARE A+
                                                                                (CE); Negative #
#The above ratings are backed by a letter of comfort issued by Edelweiss Financial Services Ltd.
(EFSL)
Edelweiss Asset Reconstruction CompanyNCDs               Prov CARE A    3700    Revised from
                                                         (CE); Stable#          Prov CARE A+
                                                                                (CE); Negative #
#The above ratings are backed by a letter of comfort issued by Edelweiss Financial Services Ltd.
(EFSL) 
Edelweiss Asset Reconstruction CompanyNCDs               -              -       Withdrawn
Edelweiss Finance And Investment Ltd  NCD (Public issue) CARE A+; Stable5000    Revised from
                                                                                CARE AA-;
                                                                                Negative
Edelweiss Finance And Investment Ltd  NCD                CARE A+; Stable7000    Revised from
                                                                                CARE AA-;
                                                                                Negative
Edelweiss Finance And Investment Ltd  Principal          CARE PP-MLD    5000    Revised from
                                      Protected Market   A+; Stable             CARE PP-MLD
                                      Linked Debentures                         AA-; Negative
Edelweiss Finvest Pvt Ltd             Principal          CARE PP-MLD    691.1   Revised from
                                      Protected Market   A+; Stable             CARE PP-MLD
                                      Linked Debentures                         AA-; Negative
(reduced from 87.52 Crore)
Edelweiss Finvest Pvt Ltd             Principal          CARE PP-MLD    5000    Revised from
                                      Protected Market   A+; Stable             CARE PP-MLD
                                      Linked Debentures                         AA-; Negative
Edelweiss Housing Finance Ltd         NCD*               -              -       Withdrawn
*The above rating was backed by an unconditional and irrevocable corporate guarantee issued by
Edelweiss Financial Services Ltd. (EFSL) rated CARE A1+
Edelweiss Housing Finance Ltd         Bk Fac             CARE A+;       16750   Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
Edelweiss Housing Finance Ltd         Retail NCD         CARE A+;       4431    Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
(reduced from 500 Crore)
Edelweiss Housing Finance Ltd         Subordinate Debt   CARE A+;       3000    Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
Edelweiss Housing Finance Ltd         NCD                CARE A+;       6650    Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
Edelweiss Retail Finance Ltd          NCDs               CARE A+;       2250    Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
Edelweiss Retail Finance Ltd          Subordinate Debt   CARE A+;       3000    Revised from
                                                         Stable                 CARE AA-;
                                                                                Negative
Edelweiss Rural And Corporate ServicesLT Bk Fac-Fund     CARE A+; Stable4200    Revised
Ltd                                   Based@                                    fromCARE AA-;
                                                                                Negative
@The said instrument has been transferred from Edelweiss Agri Value Chain Limited to Edelweiss
Rural & Corporate Services Limited (Erstwhile Edelweiss Commodities Services Limited) as per the
scheme of amalgamation.
Edelweiss Rural And Corporate ServicesST/LT/FB           CARE A+; Stable4000    Revised
Ltd                                   Fac/Non-FundBased                         fromCARE AA-;
                                      Fac@                                      Negative/ CARE
                                                                                A1+
@The said instrument has been transferred from Edelweiss Agri Value Chain Limited to Edelweiss
Rural & Corporate Services Limited (Erstwhile Edelweiss Commodities Services Limited) as per the
scheme of amalgamation.
Edelweiss Rural And Corporate ServicesNCD                CARE A+; Stable1375    Revised from
Ltd                                                                             CARE AA-;
                                                                                Negative
Edelweiss Rural And Corporate ServicesProposed NCDs@     ProvCARE A+    1700    Revised
Ltd                                                      (CE); Stable           fromProv CARE
                                                                                AA-(CE);
                                                                                Negative ^
@The said instrument has been transferred from Edelweiss Agri Value Chain Limited to Edelweiss
Rural & Corporate Services Limited (Erstwhile Edelweiss Commodities Services Limited) as per the
scheme of amalgamation.
Elena Renewable Energy Pvt Ltd        NCDs*              CARE AA (CE);  2655    Revised
                                                         Stable                 fromCARE AA-
                                                                                (CE); Stable
*The above rating is based on credit enhancement in the form of financial support arrangement
for debt servicing among the 10 solar power SPVs promoted by greenko group
Gencor Pacific Auto Engineering Pvt   ST Bk Fac (PC)*    -              0       Withdrawn
Ltd 
* PC facility to the tune of Rs.3.00 crore has been surrendered as per the revised sanction
terms dated September 25, 2020  
Gencor Pacific Auto Engineering Pvt  LT Bk Fac          CARE B-;       120.3   Reaffirmed
Ltd                                                      Stable
(Enhanced from 9.56 Crore)
Goswami Infratech Pvt Ltd             NCDs (NCDs)        CARE A+ (CE)   6000    Revised from
                                      Tranche I^                                CARE AA (CE);
                                                                                Stable
rating put under credit watch
Goswami Infratech Pvt Ltd             NCDs (NCDs)        CARE A+ (CE)   1819    Revised from
                                      Tranche II                                CARE AA (CE);
                                                                                Stable
rating put under credit watch
Goswami Infratech Pvt Ltd             NCDs (NCDs)        CARE A+ (CE)   2000    Revised from
                                      Tranche III                               CARE AA (CE);
                                      (Series IIA)                              Stable
rating put under credit watch
Goswami Infratech Pvt Ltd             NCDs (NCDs)        CARE A+ (CE)   1750    Revised from
                                      Tranche III                               CARE AA (CE);
                                      (Series IIB)                              Stable
rating put under credit watch
Goswami Infratech Pvt Ltd             NCDs (NCDs)        CARE A+ (CE)   3200    Revised from
                                      Tranche IV (Series                        CARE AA (CE);
                                      A)                                        Stable
rating put under credit watch
Goswami Infratech Pvt Ltd             NCDs (NCDs)        CARE A+ (CE)   5050    Revised from
                                      Tranche IV (Series                        CARE AA (CE);
                                      B)                                        Stable
rating put under credit watch
Gr Phagwara Expressway Ltd            LT Bk Fac          CARE AA;       5400    Revised from
                                                         Positive               CARE A+;
                                                                                Positive
Gspl India Gasnet Ltd                 LT BkFac           CARE A-;       44740   Reaffirmed
                                                         Stable
Hindalco Industries Ltd               LT Bk Fac – Fund   CARE AA+;      122455  Reaffirmed
                                      Based              Negative
(enhanced from 1,642.50 Crore)
Hindalco Industries Ltd               LT Bk Fac – TL     CARE AA+;      97047.3 Reaffirmed
                                                         Negative
(enhanced from 9680.12 Crore)
Hindalco Industries Ltd               NCD issue          CARE AA+;      60000   Reaffirmed
                                                         Negative
Hindalco Industries Ltd               LT/ST Bk Fac – Non CARE AA+;      144660  Reaffirmed
                                      Fund Based         Negative /CARE
                                                         A1+
(enhanced from 11,593.50 Crore)
Hindustan Construction Co. Ltd        LT Bk Fac-TL       CARE D         5849.3  Reaffirmed
Hindustan Construction Co. Ltd        LT Bk Fac-CC       CARE D         11016.5 Reaffirmed
Hindustan Construction Co. Ltd        LT/ST Bk Fac – Non CARE D         63673.7 Reaffirmed
                                      Fund based
Hindustan Construction Co. Ltd        Non – Convertible  CARE D         184.8   Reaffirmed
                                      Debenture
Hindustan Construction Co. Ltd        Non – Convertible  CARE D         689.3   Reaffirmed
                                      Debenture
Hi-Tech Systems & Services Ltd        LT BkFac           CARE A-;       776.7
                                                         Stable
Removed from Credit watch
Hi-Tech Systems & Services Ltd        LT/ Shortterm Bk   CARE A-;       525
                                      Fac                Stable/CARE A2+
Removed from Credit watch
Housing Development Finance CorporatioIssuer rating      CARE AAA (Is); -       Reaffirmed
Ltd                                                      Stable
Housing Development Finance CorporatioLT Bk Fac          CARE AAA;      229975.8Reaffirmed
Ltd                                                      Stable
Idfc First Bank Ltd                   LT debt instrumentsCARE AA; Stable58326.8 Revised from
                                                                                CARE AA+;
                                                                                Negative
(Reduced from 10,226.78 Crore)
Indostar Capital Finance Ltd          LT debt programme  CARE AA-;      99000   Reaffirmed
                                                         Stable
Indostar Capital Finance Ltd          Market-linked      CARE PP-MLD    1000    Reaffirmed
                                      Debentures         AA-; Stable
Jamipol Ltd                           LT / ST Bk Fac     CARE AA-;      200     Reaffirmed
                                                         Positive /CARE
                                                         A1+
Jc Biotech Pvt Ltd                    LT Bk Fac*         -              0       Withdrawn
*CARE has withdrawn the outstanding ratings of ‘CARE A-(CE); Outlook: Stable’ assigned to one of
the bank facility (Term Loan facility) of JC Biotech Private Limited based on ‘No Dues
Certificate’ received from the lender. 
Jc Biotech Pvt Ltd                    LT Bk Fac@         CARE A- (CE);  72.5    Reaffirmed
@ Backed by Letter of Comfort provided by Advanced Enzyme Technologies Limited 
                                                         Stable
(reduced from 8.05 Crore)
Jindal Films India Ltd                LT / ST BkFac @    CARE A (CE);   250     Reaffirmed
                                                         Stable/CARE A1
                                                         (CE)
 @Jindal Poly Films Limited (JPFL, rated CARE A+; Positive/ CARE A1+), the promoter company of
JFIL, has provided Letter of Comfort (LoC) towards the facilities of JFIL   
Jindal Poly Films Ltd                 LT Bk Fac          CARE A+;       1545.2  Reaffirmed
                                                         Positive
outlook revised from stable/(Reduced from 186.73 Crore)
Jindal Poly Films Ltd                 LT / ST BkFac      CARE A+;       1590    Reaffirmed
                                                         Positive /CARE
                                                         A1+
outlook revised from stable/(Enhanced from 139.00 Crore)
Joyville Shapoorji Housing Pvt Ltd    Bk Fac             CARE BBB;      3750    Reaffirmed
                                                         Negative
Joyville Shapoorji Housing Pvt Ltd    NCD (Series B)^    CARE BBB+      6082.5  Revised from
                                                                                CARE A+
continues to be on credit watch /(Enhanced from 549.45 Crore)
^ Series A subscribed by sponsor and Series B subscribed by investors
Sponsor: Shapoorji Pallonji and Company Private Limited (SPCPL rated CARE A-/A2+; under Credit
Watch with Negative Implications, revised on September 29, 2020),
Investors: Actis Place Holdings No.2 (Singapore) Private Limited [Acquired from Standard
Chartered Real Estate Investment (Singapore) III Private Limited], International Finance
Corporation (IFC), Asian Development Bank (ADB) 
Joyville Shapoorji Housing Pvt Ltd    NCD (Series A)^    CARE BBB+      2606.8  Revised from
                                                                                CARE A+
continues to be on credit watch /(Enhanced from 235.48 Crore)
continues to be on credit watch /(Enhanced from 549.45 Crore)
^ Series A subscribed by sponsor and Series B subscribed by investors
Sponsor: Shapoorji Pallonji and Company Private Limited (SPCPL rated CARE A-/A2+; under Credit
Watch with Negative Implications, revised on September 29, 2020),
Investors: Actis Place Holdings No.2 (Singapore) Private Limited [Acquired from Standard
Chartered Real Estate Investment (Singapore) III Private Limited], International Finance
Corporation (IFC), Asian Development Bank (ADB)  
Joyville Shapoorji Housing Pvt Ltd    Proposed NCD@      ProvCARE BBB+  993.2   Revised from
                                                                                Prov CARE A+
continues to be on credit watch /(Reduced from 124.52 Crore)
 
Joyville Shapoorji Housing Pvt Ltd    Proposed NCD@      ProvCARE BBB+  2317.5  Revised from
                                                                                Prov CARE A+
continues to be on credit watch /(Reduced from 290.55 Crore)
@The rating is ‘provisional’ and will be confirmed once the company submits the following
documents to the satisfaction
of CARE
1) Executed version of agreements/documents such as Debenture Trust Deed,
2) Information Memorandum, Debenture Subscription Agreement etc.    
K.V.Developers                        LT Bk Fac          CARE BB-;      136.7   Reaffirmed
                                                         Stable
(Reduced from 18.00 Crore)
Kalyani Steels Ltd                    LT Bk Fac          -              0       Withdrawn
Kalyani Steels Ltd                    LT Bk Fac          CARE AA;       1500    Reaffirmed
                                                         Stable
Kalyani Steels Ltd                    LT / ST Bk Fac     CARE AA;       419.9   Reaffirmed
                                                         Stable /CARE
                                                         A1+
(enhanced from Rs.33.00 crs Crore)
Kaze Energy Ltd                       LT Fund based Bk   -              -       -
                                      Fac – TL
Placed on credit watch with developing implications and withdrawn
Ksh International Pvt Ltd             LT Bk Fac          CARE A-; Stable158.2   Reaffirmed
(Reduced from 35.97 Crore)
Ksh International Pvt Ltd             LT /STBk Fac       CARE A-;       800     Reaffirmed
                                                         Stable /CARE A2
L&T Finance Holdings Ltd              PS                 CARE AAA(RPS); 28360   Reaffirmed
                                                         Stable
L&T Finance Holdings Ltd              NCDs               CARE AAA;      10000   Reaffirmed
                                                         Stable
L&T Finance Ltd                       Perpetual Debt     CARE AA+;      5000    Reaffirmed
                                                         Stable
L&T Finance Ltd                       LT Fac             CARE AAA;      260000  Reaffirmed
                                                         Stable
L&T Finance Ltd                       NCDs               CARE AAA;      155000  Reaffirmed
                                                         Stable
L&T Finance Ltd                       NCDs (Public Issue)CARE AAA;      6000    Reaffirmed
                                                         Stable
L&T Finance Ltd                       Public Issue of    CARE AAA;      50000   Reaffirmed
                                      SecuredRedeemable  Stable
                                      Non-ConvertibleDebentures and/or UnsecuredSubordinated
                                      RedeemableNCDs
L&T Finance Ltd                       Subordinate Debt   CARE AAA;      13000   Reaffirmed
                                                         Stable
L&T Finance Ltd                       Public Issue of    CARE AAA;      50000   Reaffirmed
                                      SecuredRedeemable  Stable
                                      Non-ConvertibleDebentures and/or UnsecuredSubordinated
                                      Redeemable NCDs
L&T Finance Ltd                       Market linked      CARE PP-MLD    15000   Reaffirmed
                                      Debenture          AAA; Stable
L&T Housing Finance Ltd               Perpetual Debt     CARE AA+;      1000    Reaffirmed
                                      issue              Stable
L&T Housing Finance Ltd               LT Bk Fac          CARE AAA;      70000   Reaffirmed
                                                         Stable
L&T Housing Finance Ltd               Subordinated Debt  CARE AAA;      3000    Reaffirmed
                                      issue              Stable
L&T Housing Finance Ltd               NCDs               CARE AAA;      72000   Reaffirmed
                                                         Stable
L&T Housing Finance Ltd               Principal          CARE PP-MLD    5000    Reaffirmed
                                      Protected Market   AAA; Stable[
                                      Linked Debenture
L&T Infrastructure Finance Co. Ltd    Perpetual Debt     CARE AA+;      4000    Reaffirmed
                                                         Stable
L&T Infrastructure Finance Co. Ltd    Perpetual Debt     CARE AA+;      4000    Reaffirmed
                                                         Stable
L&T Infrastructure Finance Co. Ltd    Bk Fac- Fund       CARE AAA;      98000   Reaffirmed
                                      based- LT- TL      Stable
L&T Infrastructure Finance Co. Ltd    NCDs               CARE AAA;      95000   Reaffirmed
                                                         Stable
L&T Infrastructure Finance Co. Ltd    Public Issue of    CARE AAA;      50000   Reaffirmed
                                      Secured            Stable
                                      RedeemableNCDs and/orUnsecured Subordinated Redeemable
                                      NCDs
L&T Infrastructure Finance Co. Ltd    Infrastructure     CARE AAA;      18000   Reaffirmed
                                      Bonds              Stable
L&T Infrastructure Finance Co. Ltd    Sub. Bonds         CARE AAA;      15000   Reaffirmed
                                                         Stable
L&T Infrastructure Finance Co. Ltd    Sub. Bonds         CARE AAA;      2000    Reaffirmed
                                                         Stable
L&T Infrastructure Finance Co. Ltd    Sub. Bonds         CARE AAA;      24000   Reaffirmed
                                                         Stable
L&T Infrastructure Finance Co. Ltd    Bk Fac- Fund       CARE AAA;      98000   Reaffirmed
                                      based- LT- TL      Stable
L&T Infrastructure Finance Co. Ltd    NCDs               CARE AAA;      95000   Reaffirmed
                                                         Stable
L&T Infrastructure Finance Co. Ltd    Public Issue of    CARE AAA;      50000   Reaffirmed
                                      Secured            Stable
                                      RedeemableNCDs and/orUnsecured Subordinated RedeemableNCDs
L&T Infrastructure Finance Co. Ltd    Infrastructure     CARE AAA;      18000   Reaffirmed
                                      Bonds              Stable
L&T Infrastructure Finance Co. Ltd    Sub. Bonds         CARE AAA;      15000   Reaffirmed
                                                         Stable
L&T Infrastructure Finance Co. Ltd    Sub. Bonds         CARE AAA;      2000    Reaffirmed
                                                         Stable
L&T Infrastructure Finance Co. Ltd    Sub. Bonds         CARE AAA;      24000   Reaffirmed
                                                         Stable
L&T Infrastructure Finance Co. Ltd    Principal          CARE PP-MLD    5000    Reaffirmed
                                      Protected Market   AAA; Stable
                                      Linked Debenture
L&T Infrastructure Finance Co. Ltd    Principal          CARE PP-MLD    5000    Reaffirmed
                                      Protected Market   AAA; Stable
                                      Linked Debenture
Liberty Shoes Ltd                     LT Bk Fac          CARE BBB+;     65      Assigned
                                                         Stable
Liberty Shoes Ltd                     LT Bk Fac          CARE BBB+;     1654    Revised from
                                                         Stable                 CARE A-;
                                                                                Negative
outlook revised from negative /(Enhanced from 135.00 Crore)
Madhusudan Agrawal                    LT Bk Fac          CARE B;        50      Revised from
                                                         Stable;                CARE BB-;
                                                                                Stable and
                                                                                rating put under
                                                                                INC
(Issuer Not Cooperating)
Maithan Alloys Ltd                    LT BkFac           CARE AA;       900     Reaffirmed
                                                         Stable
Maithan Alloys Ltd                    LT/ShortTerm Bk    CARE AA;       150     Reaffirmed
                                      Fac                Stable/CARE A1+
Mangalore Chemicals And Fertilizers LtLT BkFac           CARE BBB;      5355    Reaffirmed
                                                         Stable
(enhanced from 267.08 Crore)
Mangalore Chemicals And Fertilizers LtLT/ ST Bk Fac      CARE BBB;      18995   Reaffirmed
                                                         Stable/CARE A3
(reduced from 2167.92 Crore)
Merge Stones                          LT Bk Fac          CARE B-; Stable230     Revised from
                                                                                CARE B; Stable
(Issuer Not Cooperating)
Nacl Industries Ltd                   LT Bk Fac          CARE A-; Stable2185.6  Reaffirmed
outlook revised from negative /(Reduced from 328.21 Crore)
Nacl Industries Ltd                   Long- term Bk Fac  CARE A-;       830     Assigned
                                                         Stable
Nandi Economic Corridor Enterprises LtLT Fac             CARE BBB+;     12034.7 Reaffirmed
                                                         Stable
(reduced from 1225.77 Crore)
Narmada Concast Pvt Ltd               Long term /        CARE D /CARE D 40      rating
                                      Shortterm Bk Fac                          putunder INC
(Issuer Not Cooperating)
Narmada Concast Pvt Ltd               LT BkFac           CARE D;        207.9   rating
                                                                                putunder INC
(Issuer Not Cooperating)
Nb Commercial Enterprises Ltd         LT / ST BkFac      CARE BBB-      250     Reaffirmed
                                                         (CE);
                                                         Stable/CARE A3 (CE)
Ostro Anantapur Pvt Ltd               LT Bk Fac – CC                    0       Withdrawn^
^CARE has withdrawn the rating assigned to the cash credit facility of all the 7 SPVs in the
co-borrower structure with immediate effect, as the company has repaid the aforementioned
facility in full and there is no amount outstanding as on date.
Ostro Anantapur Pvt Ltd               LT Bk Fac – TL@    CARE A- (CE)   5223.9  -
Continues to be on credit watch with negative implications /(Reduced from 549.58 Crore)/@
Structured payment mechanism in the form of waterfall payment mechanism as per which in case of
shortfall in funds in any TRA Account the co-borrowers shall infuse funds from other TRA
accounts to fund the shortfall in the relevant TRA account as per the terms of the relevant TRA
agreement
Ostro Anantapur Pvt Ltd               LT Bk Fac – TL*    CARE A+ (CE);  1199    Reaffirmed
                                                         Stable
(Reduced from 125.40 Crore)/* Rating backed by unconditional and irrevocable corporate guarantee
from Renew Power Private Limited (RPPL, rated CARE A+; Stable/CARE A1+) available for the full
tenure of the facility.
Ostro Jaisalmer Pvt Ltd               LT Bk Fac – TL@    CARE A- (CE)   2563    -
Continues to be on credit watch with negative implications /(Reduced from 269.88 Crore)/@
Structured payment mechanism in the form of waterfall payment mechanism as per which in case of
shortfall in funds in any TRA Account the co-borrowers shall infuse funds from other TRA
accounts to fund the shortfall in the relevant TRA account as per the terms of the relevant TRA
agreement
Ostro Jaisalmer Pvt Ltd               LT Bk Fac – TL*    CARE A+ (CE);  448.8   Reaffirmed
                                                         Stable
(Reduced from 46.94 Crore)/* Rating backed by unconditional and irrevocable corporate guarantee
from Renew Power Private Limited (RPPL, rated CARE A+; Stable/CARE A1+) available for the full
tenure of the facility.
Ostro Jaisalmer Pvt Ltd               LT Bk Fac – CC                    4701.5  Withdrawn^
^CARE has withdrawn the rating assigned to the cash credit facility of all the 7 SPVs in the
co-borrower structure with immediate effect, as the company has repaid the aforementioned
facility in full and there is no amount outstanding as on date.
Ostro Madhya Wind Pvt Ltd             LT Bk Fac –        -              4701.5  -
                                      Term Loan@ 
Rating continues to be under credit watch with negative implications/@ Structured payment
mechanism in the form of waterfall payment mechanism as per which in case of shortfall in funds
in any TRA Account the co-borrowers shall infuse funds from other TRA accounts to fund the
shortfall in the relevant TRA account as per the terms of the relevant TRA agreement
Ostro Urja Wind Pvt Ltd               LT BkFac –                        0       Withdrawn^
                                      CashCredit
^CARE has withdrawn the rating assigned to the cash credit facility of all the 7 SPVs in the
co-borrower structure with immediate effect, as the company has repaid the aforementioned
facility in full and there is no amount outstanding as on date.
Ostro Urja Wind Pvt Ltd               LT BkFac –         CARE A- (CE)   3477.8  -
                                      TermLoan@
Continues to be on credit watch with negative implications /(Reduced from 364.55 Crore)/@
Structured payment mechanism in the form of waterfall payment mechanism as per which in case of
shortfall in funds in any TRA Account the co-borrowers shall infuse funds from other TRA
accounts to fund the shortfall in the relevant TRA account as per the terms of the relevant TRA
agreement
Ostro Urja Wind Pvt Ltd               LT BkFac –         CARE A+ (CE);  864.7   Reaffirmed
                                      TermLoan*          Stable
(Reduced from 90.43 Crore)/* Rating backed by unconditional and irrevocable corporate guarantee
from Renew Power Private Limited (RPPL, rated CARE A+; Stable/CARE A1+) available for the full
tenure of the facility.
Parsuram Arawali Highways Pvt Ltd     LT Bk Fac – TL     CARE BBB;      3200    Revised from
                                                         Negative               CARE BBB+;
                                                                                Stable
Parsuram Arawali Highways Pvt Ltd     LT Bk Fac– Non     CARE BBB;      335     Revised from
                                      Fund based –       Negative               CARE BBB+;
                                      BkGuarantees                              Stable
Prathamesh Solarfarms Ltd             LT Bk Fac –        -              0       Withdrawn
                                      Cash Credit
^CARE has withdrawn the rating assigned to the cash credit facility of all the 7 SPVs in the
co-borrower structure with immediate effect, as the company has repaid the aforementioned
facility in full and there is no amount outstanding as on date.
Prathamesh Solarfarms Ltd             LT Bk Fac –        CARE A- (CE)   2683.9  -
                                      Term Loan@
Continues to be on credit watch with negative implications/@ Structured payment mechanism in the
form of waterfall payment mechanism as per which in case of shortfall in funds in any
TRA Account the co-borrowers shall infuse funds from other TRA accounts to fund the shortfall in
the relevant TRA account as per the terms of the relevant TRA agreement
Prathamesh Solarfarms Ltd             LT Bk Fac –        CARE A+ (CE);  577.5   Reaffirmed
                                      Term
                                      Loan*
* Rating backed by unconditional and irrevocable corporate guarantee from Renew Power Private
Limited (RPPL, rated CARE A+; Stable/CARE A1+) available for the full tenure of the facility.
Pratyash Renewable Pvt Ltd            NCDs*              CARE AA (CE);  2655    Revised
                                                         Stable                 fromCARE AA-
                                                                                (CE); Stable
(reduced from 270.00 Crore)/*The above rating is based on credit enhancement in the form of
financial support arrangement for debt servicing among the 10 solar power SPVs promoted by
greenko group
Pravara Renewable Energy Ltd          LT Bk Fac          CARE D;        1860.8  -
(Issuer Not Cooperating)
Prem Industries                       LT BkFac           CARE BBB-;     170     Reaffirmed
                                                         Negative
(Enhanced from Rs.12.00 crore Crore)
Pundrikaksh Granites Pvt Ltd          LT Bk Fac          CARE B; Stable 105     Revised from
                                                                                CARE B+;
                                                                                Stable
(Reduced from 12.13 Crore)
Pundrikaksh Granites Pvt Ltd          LT / ST Bk Fac     CARE B; Stable 90      Revised from
                                                         /CARE A4               CARE B+;
                                                                                Stable / CARE A4
(Reduced from 12.00 Crore)
Quest Properties India Ltd            LT Bk Fac          CARE A-;       30      Assigned
                                                         Negative
Quest Properties India Ltd            LT Bk Fac          CARE A-;       1437.5  Reaffirmed
                                                         Negative
outlook revised from stable / (Reduced from 145.45 Crore)
Rbl Bank Ltd.                         Tier II Bonds      CARE AA-;      8000    Reaffirmed
                                      (Basel III)        Stable
Reliance Jio Infocomm Ltd             LT Bk Fac          CARE AAA;      500000  Reaffirmed
                                                         Stable
Renew Mega Solar Power Pvt Ltd        LT BkFac           CARE BBB+;     441.8   Reaffirmed
                                                         Stable
outlook revised from negative /(reduced from 252.88 Crore)
Renew Saur Shakti Pvt Ltd             LT Bk Fac          CARE BBB+;     2277.8  Reaffirmed
                                                         Stable
outlook revised from negative /(Reduced from 485.95 Crore)
Ritnand Balved International EducationLT Bk Fac          CARE A-(CE)*;  1230    Assigned
Foundation                                               Stable
*backed by credit enhancement in the form of shortfall undertaking provided by Ritnand Balved
Education Foundation (RBEF, CARE A+; Stable/ CARE A1+)
Ritnand Balved International EducationLT/STBk Fac        CARE A-(CE)*;  50      Assigned
Foundation                                               Stable/CARE A1
                                                         (CE)*
*backed by credit enhancement in the form of shortfall undertaking provided by Ritnand Balved
Education Foundation (RBEF, CARE A+; Stable/ CARE A1+)
S P Infra                             LT Bk Fac          CARE BB-;      339.6   Revised from
                                                         Stable                 CARE B+;
                                                                                Stable and
removed from INC
(Issuer Not Cooperating)/(Enhanced from 9.38 Crore)
Sadbhav Nainital Highway Pvt Ltd      LT Bk Fac          CARE BBB+ (CE) 3150    Revised from
                                                                                CARE A-
                                                                                (CE);Stable
rating put under Credit watch with Negative Implications
Satyam Mineral                        LT Bk Fac          -              -       Reaffirmed at
                                                                                CARE B+;
                                                                                Stable and
                                                                                withdrawn
Sayaji Seeds Llp                      LT / ST BkFac      CARE BBB-      90      Reaffirmed
                                                         (CE);
                                                         Stable/CARE A3 (CE)
Sei Baskara Power Pvt Ltd             NCDs*              CARE AA (CE);  2655    Revised
                                                         Stable                 fromCARE AA-
                                                                                (CE); Stable
(reduced from 270.00 Crore)/*The above rating is based on credit enhancement in the form of
financial support arrangement for debt servicing among the
10 solar power SPVs promoted by greenko group
Sei Enerstar Renewable Energy Pvt Ltd NCDs*              CARE AA (CE);  2655    Revised
                                                         Stable                 fromCARE AA-
                                                                                (CE); Stable
(reduced from 270.00 Crore)/*The above rating is based on credit enhancement in the form of
financial support arrangement for debt servicing among the 10 solar power SPVs promoted by
greenko group
Sei Mihir Energy Pvt Ltd              NCDs*              CARE AA (CE);  2655    Revised
                                                         Stable                 fromCARE AA-
                                                                                (CE); Stable
(reduced from 270.00 Crore)/*The above rating is based on credit enhancement in the form of
financial support arrangement for debt servicing among the 10 solar power SPVs promoted by
greenko group
Shreyas Renewable Energy Pvt Ltd      NCDs*              CARE AA (CE);  2655    Revised
                                                         Stable                 fromCARE AA-
                                                                                (CE); Stable
(reduced from 270.00 Crore)*The above rating is based on credit enhancement in the form of
financial support arrangement for debt servicing among the 10 solar power SPVs promoted by
greenko group
Sian Infra And Realcon Llp            LT Bk Fac          CARE BB; Stable60      Revised from
                                                                                CARE B;
                                                                                Stable; and
                                                                                removed from INC
(Issuer Not Cooperating)
Sunshine Tiles Company Pvt Ltd        LT Bk Fac          CARE BBB+;     1710.3  Reaffirmed
                                                         Stable
(Reduced from 171.67 Crore)
Super Diamond Enterprises             LT Bk Fac          CARE BB;       1300    Revised from
                                                         Stable;                CARE BB+;
                                                                                Stable and
                                                                                rating put under
                                                                                INC
(Issuer Not Cooperating)
Talbros Engineering Ltd               LT Bk Fac          CARE BBB+;     55.9    Reaffirmed
                                                         Negative
Outlook revised from Stable to Negative /(reduced from 11.72 Crore)
Tata Teleservices Ltd.                LT Bk Fac          CARE A+; Stable24575   Reaffirmed
(reduced from 2,792.50 Crore)
Tata Teleservices Ltd.                LT/ST Bk Fac       CARE A+;       13605   Reaffirmed
                                                         Stable
(enhanced from 1000.00 Crore)
Tommy Hilfiger Arvind Fashion Pvt Ltd LT Bk Fac          -              -       Withdrawn
Zuvan Energy Pvt Ltd                  NCDs*              CARE AA (CE);  2655    Revised
                                                         Stable                 fromCARE AA-
                                                                                (CE); Stable
(reduced from 270.00 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)
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