Nov 4 - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local
debt instruments as of November 3, 2020.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------- ---------- ------ ------- ---------
SHORT TERM RATINGS:
-------------------
Ambattur Fashion India Pvt Ltd ST Bk Fac CARE A3+ 385 Revised from
CARE A3+
(Enhanced from 33.00 Crore)
Avani Textiles Ltd ST Bk Fac CARE A4 400 Reaffirmed
Axiscades Engineering Technologies LtdST Bk Fac CARE A3 63 -
(Placed on Credit watch with Developing Implications)
Babanarayan Himghar Pvt Ltd ST BkFac CARE A4 1.4 -
(Rating moved to (Issuer Not Cooperating)category)
Gepong ST BkFac CARE A4 50 -
Rating moved to (Issuer Not Cooperating) category
Hyquip Systems Ltd ST Bk Fac CARE D 270 -
Rating continues to remain under (Issuer Not Cooperating) category
Jayem Automotives Pvt Ltd ST Bk Fac CARE A4 150 -
Rating continues to remain under (Issuer Not Cooperating) category
Jindal Itf Ltd ST Bk Fac – BG^ CARE A1+ (CE) 170 Reaffirmed
(Reduced from 25.00 Crore)^ The facilities are backed by unconditional and irrevocable corporate
guarantee provided by Jindal Saw Limited (JSAW, rated CARE AA; Stable and CARE A1+)
Jmj Switch Gears Pvt Ltd ST Bk Fac CARE D 17.2 -
Rating continues to remain under (Issuer Not Cooperating) category
Mahadev Craft Papers Pvt Ltd ST Bk Fac CARE A4 10 Assigned
Raghav Productivity Enhancers Ltd ST Bk Fac CARE A3+ 10 Revised from
CARE A3
Raipur Construction Pvt Ltd ST BkFac CARE A4 298.5 -
Rating continues to remain under (Issuer Not Cooperating) category
Rmbay ST Bk Fac CARE A4 90 Reaffirmed
(Enhanced from 8.00 Crore)
Sai Engicon And Construction Pvt Ltd ST BkFac CARE A4 250 -
Rating continues to remain under (Issuer Not Cooperating) category
Santosh Beej Bhandar ST Bk Fac CARE A4; 5 -
Rating continues to remain under (Issuer Not Cooperating) category
Satyendra Kumar Construction Pvt Ltd ST BkFac CARE A4 160 -
(Issuer Not Cooperating)
Shree Balaji Woollen Mills ST Bk Fac CARE A4; 19.2 -
(Rating moved to Issuer Not Cooperating category)
Shree Narshingha Cold Storage Pvt Ltd ST BkFac CARE A4 1.5 -
(Rating continues to remain under Issuer Not Cooperating category)
Tenny Jose Ltd ST Bk Fac CARE D 275 Revised from
CARE A4
Toyo Springs Ltd ST Bk Fac CARE A4 390 Revised from
CARE A3
(Issuer Not Cooperating)
LONG TERM RATINGS:
-------------------
Ambattur Fashion India Pvt Ltd LT Bk Fac CARE BBB-/ 50.4 Revised from
Stable CARE BBB;
Negative
(Reduced from 6.00 Crore)
Anjani Polytec Pvt Ltd LT BkFac CARE B-/ Stable100 Revised from
CARE B; Stable
(Issuer Not Cooperating)
Avani Textiles Ltd LT Bk Fac CARE BB-/ 263 Reaffirmed
Stable
(Reduced from 26.75 Crore)
Axiscades Engineering Technologies LtdLT Bk Fac CARE BBB 280.6 -
Placed on Credit watch with Developing Implications/(Reduced from 33.42 crs)
Axiscades Engineering Technologies LtdLT / ST Bk Fac CARE BBB /CARE 650 -
A3
(Placed on Credit watch with Developing Implications)
Babanarayan Himghar Pvt Ltd LT BkFac CARE B/ Stable 93.9 -
Rating moved to (Issuer Not Cooperating)category
Bagzone Lifestyles Pvt Ltd LT/ST Bk Fac CARE BB+/ 200 Revised from
Negative/CARE CARE
A4+ BBB-/CARE A3 &
Negative outlook
assigned
(Rating removed from credit watch with negative implications)
Deepshikha Exim Pvt Ltd LT Bk Fac # - - Withdrawn
# Bank facilities were backed by the unconditional and irrevocable corporate guarantee of Jindal
Worldwide Limited (JWL).
Gepong LT BkFac CARE BB-/ 63 Revised from
Stable CARE BB;
Stable
(Issuer Not Cooperating)
Gravity India Technologies Pvt Ltd LT Bk Fac - - Reaffirmed at
CARE B+;
Stable; and
Withdrawn
(Issuer Not Cooperating)
Hygen Packs LT Bk Fac CARE BB-; 71.9 Revised from
Stable; CARE
BB; Stable
Rating moved to (Issuer Not Cooperating) category
Hyquip Systems Ltd LT Bk Fac CARE D 53.8 -
Rating continues to remain under (Issuer Not Cooperating) category
Jayem Automotives Pvt Ltd LT Bk Fac CARE BB-/ 850 Revised from
Stable CARE BB;
Stable
Rating continues to remain under (Issuer Not Cooperating) category
Jindal Itf Ltd LT Bk Fac- CC^ 0 Withdrawn
^ The facilities are backed by unconditional and irrevocable corporate guarantee provided by
Jindal Saw Limited (JSAW, rated
CARE AA; Stable and CARE A1+)
Jindal Itf Ltd LT Bk Fac- TL^ CARE AA (CE)/ 1050 Reaffirmed
Stable
(Enhanced from 81.58 Crore)^ The facilities are backed by unconditional and irrevocable
corporate guarantee provided by Jindal Saw Limited (JSAW, rated
CARE AA; Stable and CARE A1+)
Jindal Itf Ltd LT Bk Fac –BG @ CARE BBB (CE) 8590 -
Continues to be on Credit watch with Developing Implications /(Enhanced from 359.00 Crore)
@ The facilities are backed by unconditional and irrevocable corporate guarantee provided by
Glebe Trading Private Limited (Glebe), Siddeshwari Tradex Private Limited (STPL) and Danta
Enterprises Private Limited (Danta)
Jmj Switch Gears Pvt Ltd LT Bk Fac CARE D 51.2 -
Rating continues to remain under (Issuer Not Cooperating) category
Lahore Hospital Society LT Bk Fac CARE A-/ 800 Assigned
Stable
Lalitpur Power Generation Co. Ltd LT Bk Fac CARE BB+/ 1965 Assigned
Stable
Liquid Gold Series - I Oct 2020 Series A PTC ProvCARE - Assigned
Originator: Iifl Finance Ltd AA (SO)
Madhuri P. Rural Godowns LT Bk Fac CARE D 99.7 -
Rating moved to (Issuer Not Cooperating) category
Mahadev Craft Papers Pvt Ltd LT Bk Fac CARE B+/ 199 Assigned
Stable
Mahadev Craft Papers Pvt Ltd LT/ ST BkFac CARE B+/ 80 Assigned
Stable/CARE A4
Mandakini Pachimatla LT Bk Fac CARE D 92.5 -
Rating moved to (Issuer Not Cooperating) category
Matadeen Ramchandra Agarwal LT Bk Fac CARE BB-/ 45 Reaffirmed
Stable
Matadeen Ramchandra Agarwal LT / ST Bk Fac CARE BB-/ 20 Reaffirmed
Stable /CARE A4
Mdj Texco Fab Pvt Ltd LT Bk Fac CARE BB-; 71.4 -
Stable
Rating moved to (Issuer Not Cooperating) category
Navayuga Bengalooru Tollway Pvt Ltd LT Bk Fac CARE D 4449.6 -
Rating moved to (Issuer Not Cooperating) category
Navayuga Jahnavi Toll Bridge Pvt Ltd LT Bk Fac CARE D 7200 -
Rating moved to (Issuer Not Cooperating) category
Patco Polypack Pvt Ltd LT Bk Fac -- 0 Withdrawn
Pmc Rubber Chemicals (India) Pvt Ltd LT Bk FacCC CARE BB-, 300 Reaffirmed
Stable
Raghav Productivity Enhancers Ltd LT Bk Fac CARE BBB/ 103.1 Reaffirmed
Stable
(Reduced from 11.34 Crore)
Raipur Construction Pvt Ltd LT BkFac CARE BB-/ 1.5 Revised from
Stable CARE BB;
Stable;
(Issuer Not Cooperating)
Rmbay LT Bk Fac CARE BB/ 172.1 Reaffirmed
Stable
(Enhanced from 11.85 Crore)
Sai Engicon And Construction Pvt Ltd LT BkFac CARE B+/ Stable50 Rised from
CARE BB-;
Stable
(Issuer Not Cooperating)
Santosh Beej Bhandar LT Bk Fac CARE BB-; 145 -
Stable
(ating continues to remain under Issuer Not Cooperating category)
Satyendra Kumar Construction Pvt Ltd LT BkFac CARE B/ Stable 20 Revised from
CAREB+; Stable
Rating continues to remain under(Issuer Not Cooperating) category
Shiva Raju Pachimatla LT Bk Fac CARE B-/ Stable99.9 Revised from
CARE B; Stable
(Issuer Not Cooperating)
Shree Balaji Woollen Mills LT Bk Fac CARE BB-; 45.3 -
Stable
(Rating moved to Issuer Not Cooperating Outlook revised from Positive)
Shree Narshingha Cold Storage Pvt Ltd LT Bk Fac CARE B/ Stable 82 -
(Rating continues to remain under Issuer Not Cooperating category)
Shree Sai Lifestyles LT BkFac CARE BB-/ 100 Revised from
Stable CARE BB;
Stable
(Issuer Not Cooperating)
Shri Dhanalakshmi Green Energy India LT Bk Fac CARE D 328.5 -
Pvt Ltd
Rating continues to remain under (Issuer Not Cooperating) category
Shri Tirupati Steel Cast Ltd LT Bk Fac CARE BBB-/ 707.1 Reaffirmed;
Stable Outlook
revised from
Negative
(reduced from 70.75 Crore)
Sun Projects India Pvt Ltd LT Bk Fac CARE D 147.1 Revised from
CARE BB-;
Stable
Sunpaul Properties Pvt Ltd LT Bk Fac CARE B- 90 Revised from
CARE B
(Issuer Not Cooperating)
Tenny Jose Ltd LT Bk Fac CARE D 320 Revised from
CARE BB-;
Stable
Tesna Tech Pvt Ltd LT Bk Fac CARE BB/ Stable63.8 Revised from
CARE BB+;
Stable
(Issuer Not Cooperating)
Toyo Springs Ltd LT Bk Fac CARE BB/ Stable1448.1 Revised from
CARE BBB-;
Stable;
Rating continues to remain under (Issuer Not Cooperating) category
Vesta Equipment Pvt Ltd LT Bk Fac CARE D 34.5 -
Rating continues to remain under (Issuer Not Cooperating) category
Vesta Equipment Pvt Ltd LT / ST Bk Fac CARE D 85 -
Rating continues to remain under (Issuer Not Cooperating) category
Welcos Spunfab LT / ST Bk Fac CARE B+/ 95 Revised from
Stable /CARE A4 CARE B;
Stable / CARE A4
Rating removed from (Issuer Not Cooperating) category
Wholesome Foods LT Bk Fac CARE B-; Stable85.5 Revised from
CARE B; Stable
(moved to Issuer Not Cooperating category)
Wholesome Foods LT / ST Bk Fac CARE B-; 50 Revised from
Stable /CARE A4 CARE B;
Stable/
CARE A4
(moved to 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)