Jan 8 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE)
for local debt instruments as of January 7, 2020.
COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------- ---------- ------ ------- ---------
SHORT TERM RATINGS:
-------------------
Arihant Fibres ST Bk Fac CARE A4 0.8 Reaffirmed
Bahadur Ke Textiles And Knitwears ST Bk Fac CARE A4 50 Reaffirmed
Association
Beri Udyog Pvt Ltd ST Bk facilites CARE A2 44 Reaffirmed
Cipla Ltd ST Bk Fac (FB) CARE A1+ 30020 Reaffirmed
Cipla Ltd ST Bk Fac (Non-FB) CARE A1+ 900 Reaffirmed
Classical Paradise Hotels & Resort LtdST Bk Fac CARE A3 100 Reaffirmed
Fairdeal Jumbo Packaging Pvt Ltd ST Bk Fac CARE A4 32 Reaffirmed
Finar Ltd ST Bk Fac CARE A2 60 Reaffirmed
Five-Star Business Finance Ltd CP issue CARE A1 250 Reaffirmed
Hni Office India Ltd ST Bk Fac CARE A3 130 Reaffirmed
Jiva Plywoods Pvt Ltd ST Bk Fac CARE D 25 Revised from
CARE A4
K.P.R. Mill Ltd ST Bk Fac CARE A1+ 4728.2 Reaffirmed
Kashi Vishwanath Steels Pvt Ltd ST Bk Fac CARE A3+ 130 Reaffirmed
Kissandhan Agri Financial Services PvtCP CARE A2+ 500 Reaffirmed
Ltd
(Removed from credit watch with developing implications)
Krishi Rasayan ST Bk Fac CARE A3+ 400 Revised from
CARE A2
Mahindra & Mahindra Ltd ST Bk Fac CARE A1+ 660 Reaffirmed
Mense Electricals Pvt Ltd ST Bk Fac CARE A4 100 Reaffirmed
National Engineering Industries Ltd ST Bk Fac CARE A1+ 7000 Reaffirmed
National Engineering Industries Ltd CP # CARE A1+ 1800 Reaffirmed
# by earmarking fund based bank limit
National Engineering Industries Ltd CP $ CARE A1+ 600 Reaffirmed
$ The aggregate of CP and other working capital borrowings shall be within the sanctioned fund
based working capital limits
Orient Paper & Industries Ltd ST Bk Fac CARE A1+ 10 Reaffirmed
Precision Electronic Instruments CompaST Bk Fac CARE A4 5 Assigned
Rico Jinfei Wheels Ltd ST Bk Fac CARE A2 (CE) @ 50 Revised from
CARE A3
@Backed by Letter of Comfort which is backed by Board Resolution provided by Rico Auto
Industries Limited (RAIL)
Sadbhav Engineering Ltd ST Bk Fac CARE A1 200 -
(Continues on Credit watch with Developing Implications)
Sadbhav Engineering Ltd CP (carved out of CARE A1 1500 -
working capital
limits)
(Continues on Credit watch with Developing Implications)
Shree Cement Ltd ST Bk Fac CARE A1+ 8000 Reaffirmed
Shree Cement Ltd CP CARE A1+ 6000 Reaffirmed
Soccer International Pvt. Ltd ST Bk Fac CARE A3+ 190 Reaffirmed
Sree Siva Ram And Company ST Bk Fac CARE A4 35 Reaffirmed
Sri M.S.P. Velayutha Nadar ST Bk Fac CARE A4 120 Reaffirmed
St. Mary’S Cashew Factory ST Bk Fac CARE A3 610 Assigned
Technical Products Corporation ST BkFac CARE A4+ 65 Reaffirmed
Trust Capital Services India Pvt Ltd CC CARE AA (SO) 2 2000 Reaffirmed
; Stable
Trust Capital Services India Pvt Ltd Bk Overdraft CARE AA (SO) 2 2000 Reaffirmed
; Stable
Trust Investment Advisors Pvt Ltd CP@ CARE A1+ 4500 Reaffirmed
@The above rating is based on the following conditions to be maintained: a. For above mentioned
CP issuance, Trust Investment Advisors Pvt. Ltd. will keep an equivalent amount of bank lines
unutilized. b. The securities invested by the CP proceeds would be acceptable to banks as
security i.e. conforming to the credit norms of banks of investing in at least ‘AA-’ and above
rated papers.
Unimoni Financial Services Ltd ST Bk Fac CARE A3 2050 Revised from
(Erstwhile Uae Exchange & Financial CARE A3+
Services Ltd)
Universal Stainless ST Bk Fac CARE A4 25.5 Reaffirmed
Virendra & Company ST Bk Fac CARE A3 399 Reaffirmed
Wfb Baird And Company Pvt Ltd ST Bk Fac CARE A3+ 1140 Reaffirmed
LONG TERM RATINGS:
-------------------
Aan Engineering Industries Ltd LT Bk Fac CARE A (CE); 20 Reaffirmed
Negative
(Outlook revised from Stable to Negative )
Aan Engineering Industries Ltd LT/Shortterm Bk FacCARE A (CE); 430 Reaffirmed
Negative / A1
(CE)
(Outlook revised from Stable to Negative )
Allcargo Shipping Company Pvt Ltd LT Bk Fac – TL - - Withdrawn
Allcargo Shipping Company Pvt Ltd LT Bk Fac – Mark - - Withdrawn
to Market Forward
Cover
Arihant Fibres LT Bk Fac CARE BB-; 60* Reaffirmed
Stable
*Term loans sanctioned from Bank of Baroda were withdrawn based on No Due Certificate from the
lender dated July 02, 2019
Bahadur Ke Textiles And Knitwears LT Bk Fac CARE B; Stable 112.5 Reaffirmed
Association
Bahdl Hospitality Ltd LT Bk Fac CARE BBB-; 935 Reaffirmed
Stable
Bahdl Hospitality Ltd LT/ST Bk Fac CARE BBB-; 100 Reaffirmed
Stable/ A3
Ballupur Solar Power Projects Pvt Ltd LT Bk Fac CARE BBB+ 432.4 Revised from
(CE)*; Stable CARE BBB+;
Stable
*The rating is based on the structure where all the three entities collectively called as UTT-1
shall be liable for the full amount of loan facility on a joint and several basis with the
respective borrowers as per the terms of the facility agreement.
Banco Gaskets (India) Ltd LT / ST Bk Fac CARE A+; 200 Revised from
Stable / A1+ CARE AA;
Stable / A1+
Bank Of India Upper Tier II - - Withdrawn
Bonds (Basel II)
Bank Of India Upper Tier II CARE AA-; 20000 Reaffirmed
Bonds (Basel II) Stable
Bank Of India Perpetual Bonds CARE AA-; 3000 Reaffirmed
(Basel II) Stable
Beri Udyog Pvt Ltd LT Bk facilites CARE BBB+; 1251.7 Reaffirmed
Stable
Bhagwanpur Solar Projects Pvt Ltd LT Bk Fac CARE BBB+ 204.4 Revised from
(CE)*; Stable CARE BBB+;
Stable
* The rating is based on the structure where all the three entities collectively called as UTT-2
shall be liable for the full amount of loan facility on a joint and several basis with the
respective borrowers as per the terms of the facility agreement.
Bhagwati Lacto Vegetarian Exports Pvt LT Bk Fac CARE BBB-; 3220.1 Reaffirmed
Ltd Stable
Bhati Associates Pvt Ltd LT Bk Fac CARE C; Stable 80 Assigned
Bhati Associates Pvt Ltd LT/ST Bk Fac CARE C; 100 Assigned
Stable/ A4
Bhilangana Hydro Power Ltd LT Bk Fac- Non CARE A; Stable 60 Reaffirmed
fund based
Bhilangana Hydro Power Ltd NCDs (NCDs) CARE A; Stable 1438 Reaffirmed
Bhilwara Jaipur Toll Road Pvt Ltd LT Bk Fac* CARE BBB- 1850 Revised from
(CE); Stable CARE BBB
(CE); Negative
*backed by unconditional & irrevocable corporate guarantee provided by Om Metal Infraprojects
Limited (OMIL; rated CARE BBB-; Stable/ CARE A3)
Bindookhadak Solar Projects Pvt Ltd LT Bk Fac CARE BBB+ 224.9 Revised from
(CE); Stable CARE BBB+;
Stable
Birlasoft Ltd LT Bk Fac CARE AA-; 4500 Revised from
Stable CARE A+
(Under Credit Watch with Developing Implications)
Brightsolar Renewable Energy Pvt Ltd LT Bk Fac- TL CARE BBB+ 557 Revised from
CARE A-
(Under Credit watch with Developing implications)
Central Bank Of India Upper Tier II BondsCARE A-; Stable15000 Reaffirmed
Chudiala Solar Power Projects Pvt Ltd LT Bk Fac CARE BBB+ 432.4 Revised from
(CE)*; Stable CARE BBB+;
Stable
*The rating is based on the structure where all the three entities collectively called as UTT-1
shall be liable for the full amount of loan facility on a joint and several basis with the
respective borrowers as per the terms of the facility agreement.
Classical Paradise Hotels & Resort LtdLT Bk Fac CARE BBB-; 600 Reaffirmed
Stable
Devarpan Foods Pvt Ltd LT Bk Fac CARE BBB- 181.9 Reaffirmed
(CE); Stable
Durga Projects And Infrastructure Pvt LT Bk FacTL CARE BB+; 1500 Reaffirmed
Ltd Stable
Ebix Money Express Pvt Ltd LT Bk Fac CARE BBB-; 700 Assigned
Stable
Eklingji Projects Llp LT Bk Fac CARE B; Stable 100 Assigned
Eklingji Projects Llp LT/ST Bk Fac CARE B; 50 Assigned
Stable/ A4
Fairdeal Jumbo Packaging Pvt Ltd LT Bk Fac CARE B+; Stable7.3 Reaffirmed
Fairdeal Jumbo Packaging Pvt Ltd LT/ST Bk Fac CARE B+; 188 Reaffirmed
Stable / A4
Finar Ltd LT Bk Fac CARE BBB+; 413.8 Reaffirmed
Stable
Five-Star Business Finance Ltd LT Bk Fac CARE A; Stable 8500 Reaffirmed
Five-Star Business Finance Ltd NCD issue CARE A; Stable 750 Reaffirmed
Five-Star Business Finance Ltd NCD issue CARE A; Stable 240 Reaffirmed
Five-Star Business Finance Ltd NCD issue CARE A; Stable 2000 Reaffirmed
Five-Star Business Finance Ltd NCD issue CARE A; Stable 1250 Reaffirmed
Five-Star Business Finance Ltd Principal CARE PP-MLD A; 200 Reaffirmed
Protected Market Stable
Linked Debenture issue
Foresight Bullion India Pvt. Ltd LT Bk Fac CARE BBB-; 350 Reaffirmed
Stable
Globus Spirits Ltd LT Bk Fac CARE A-; Stable2250.6 Reaffirmed
(Outlook revised from Positive)
Globus Spirits Ltd LT/Shortterm Bk FacCARE A-; 150 Reaffirmed
Stable/CARE A2+
(Outlook revised from Positive)
Haridwar Solar Projects Pvt Ltd LT Bk Fac CARE BBB+ 224.9 Revised from
(CE*); Stable CARE BBB+;
Stable
* The rating is based on the structure where all the three entities collectively called as UTT-2
shall be liable for the full amount of loan facility on a joint and several basis with the
respective borrowers as per the terms of the facility agreement.
Hni Office India Ltd LT Bk Fac CARE BBB-; 80 Reaffirmed
Stable
Intec Capital Ltd LT Bk Fac (Fund CARE D 953.6 Reaffirmed
Based)
Jagraon Agri Services Pvt Ltd LT Bk Fac – LT BG - - Withdrawn
Jagraon Agri Services Pvt Ltd LT Bk Fac – LT - - Withdrawn
Overdraft
Jind Agri Services Pvt Ltd LT Bk FacTL CARE BBB+ 400 Reaffirmed
(CE); Stable
Jind Agri Services Pvt Ltd LT Bk FacBGs CARE BBB+ 25 Reaffirmed
(CE); Stable
Jiva Plywoods Pvt Ltd LT Bk Fac CARE D 34.6 Revised from
CARE B
K.P.R. Mill Ltd LT Bk Fac CARE AA; Stable6266.1 Reaffirmed
Kashi Vishwanath Steels Pvt Ltd LT Bk Fac CARE BBB; 293.6 Reaffirmed
Stable
Kedia Lumbers LT/ST Bk Fac CARE BB; 125 Reaffirmed
Stable/ A4
Khanna Agri Services Pvt Ltd LT Bk Fac – LT BG - - Withdrawn
Khanna Agri Services Pvt Ltd LT Bk Fac – LT - - Withdrawn
Overdraft
Kissandhan Agri Financial Services PvtFB - ST-TL working - - Withdrawn
Ltd capital loans
Kissandhan Agri Financial Services PvtLT Bk Fac – CC CARE A-; Stable1100 Reaffirmed
Ltd
(Removed from credit watch with developing implications)
Kissandhan Agri Financial Services PvtNCDs CARE A-; Stable300 Reaffirmed
Ltd
(Removed from credit watch with developing implications)
Kissandhan Agri Financial Services PvtLong/ST Bk Fac CARE A-; 900 Reaffirmed
Ltd Stable / A2+
(Removed from credit watch with developing implications)
Kogta Financial (India) Ltd Proposed NCD CARE A-; Stable270 Assigned
(Secured NCD)
Krishi Rasayan LT Bk Fac CARE BBB; 360 Revised from
Stable CARE BBB+;
Stable
Krishi Rasayan LT/ST Bk Fac CARE BBB; 140 Revised from
Stable/ A3+ CARE BBB+;
Stable / A2
Maharashtra Feeds Pvt Ltd LT Bk Fac CARE BBB; 36.8 Reaffirmed
Stable
Maharashtra Feeds Pvt Ltd LT/ST Bk Fac CARE BBB; 600 Reaffirmed
Stable/ A3+
Mahindra & Mahindra Ltd LT Bk Fac CARE AAA; 1840 Reaffirmed
Stable
Malwa Solar Power Generation Pvt Ltd Proposed LT- Fund - - Withdrawn
based Bk Fac
Malwa Solar Power Generation Pvt Ltd LT Bk Fac CARE A+; Stable1787 Reaffirmed
Mangalmay Foundation Trust LT Bk Fac CARE BB; Stable158.7 Reaffirmed
Mars Hotels And Resorts Pvt Ltd LT Bk Fac CARE BBB; 11000 Assigned
Stable
Mense Electricals Pvt Ltd LT Bk Fac CARE BB; Stable85 Reaffirmed
N Ranga Rao And Sons Pvt. Ltd LT Bk Fac CARE A-; Stable1559.2 Reaffirmed
(Outlook revised from Positive to Stable)
Narsingh Ispat Udyog Pvt Ltd LT Bk Fac CARE B+; Stable115 Reaffirmed
National Engineering Industries Ltd LT Bk Fac (TL) CARE AA-; 4480 Revised from
Stable CARE AA;
Stable
National Engineering Industries Ltd LT Bk Fac (CC) CARE AA-; 4000 Revised from
Stable CARE AA;
Stable
Om Metals Infraprojects Ltd LT Bk Fac CARE BBB-; 1146 Revised from
Stable CARE BBB;
Negative
Om Metals Infraprojects Ltd LT/ST Bk Fac CARE BBB-; 6370 Revised from
Stable/CARE A3 CARE BBB;
Negative/ A3+
Orient Paper & Industries Ltd LT Bk Fac CARE AA-; 610.2 Reaffirmed
Stable
Orient Paper & Industries Ltd Long/ST Bk Fac CARE AA-; 1600 Reaffirmed
Stable/ A1+
Pegasus Properties Pvt Ltd NCD issue CARE BB; Stable1217 Reaffirmed
Png Brothers (Earlier Known As Png LT Bk Fac CARE BBB; 716.3 Reaffirmed
Jewellery & Gems) Stable
Png Brothers (Earlier Known As Png Long- term/ ST Bk CARE BBB; 600 Reaffirmed
Jewellery & Gems) Fac Stable /CARE
A3+
Precision Electronic Instruments Comp LT Bk Fac CARE BB-; 62.7 Assigned
Stable
Precision Electronic Instruments Com LT/ ST Bk Fac CARE BB-; 32.3 Assigned
Stable/ A4
Premier Liquor (India) Ltd LT Bk Fac CARE BBB-; 125 Reaffirmed
Stable
Punjab Renewable Energy Systems Pvt LT Bk Fac (CC) CARE BB; Stable140.3 Revised from
Ltd CARE BB-
Stable
Punjab Renewable Energy Systems Pvt LT Bk Fac (TL) CARE BB; Stable365.8 Revised from
Ltd CARE BB-
Stable
Rda Energy Pvt Ltd LT Bk Fac CARE A-; Stable641.3 Reaffirmed
Rico Aluminium And Ferrous Auto LT Bk Fac CARE A- (CE); 97.5 Reaffirmed
Components Ltd Negative
(Outlook revised from Stable to Negative )
Rico Aluminium And Ferrous Auto LT/Shortterm Bk FacCARE A- (CE); 60 Reaffirmed
Components Ltd Negative / A2+
(CE)
(Outlook revised from Stable to Negative )
Rico Jinfei Wheels Ltd LT Bk Fac CARE BBB+ 100 Revised from
(CE); Negative@ CARE BBB-;
Stable
@Backed by Letter of Comfort which is backed by Board Resolution provided by Rico Auto
Industries Limited (RAIL)
S S S Fibre Ltd LT Bk Fac CARE BB; Stable139.4 Revised from
CARE BB+
Stable
Sadbhav Engineering Ltd LT NCD – II * - - Withdrawn
*withdrawn based on confirmation by the company and debenture trustee regarding full and final
redemption to debenture holders
Sadbhav Engineering Ltd LT Bk Fac CARE A 7019.3 -
(Continues on Credit watch with Developing Implications)
Sadbhav Engineering Ltd LT NCD – III CARE A 1700 -
(Continues on Credit watch with Developing Implications)
Sadbhav Engineering Ltd LT NCD – IV CARE A 1900 -
(Continues on Credit watch with Developing Implications)
Sadbhav Engineering Ltd LT NCD – V CARE A 1000 -
(Proposed)
(Continues on Credit watch with Developing Implications)
Sadbhav Engineering Ltd LT/ST Bk Fac CARE A / A1 20000 -
(Continues on Credit watch with Developing Implications)
Sadbhav Infrastructure Project Ltd LT NonConvertible CARE A (CE) 1200 -
Debentures-II
(Continues on Credit watch with Developing Implications)
Sadbhav Infrastructure Project Ltd LT NonConvertible CARE A (CE) 2500 -
Debentures-III
(Continues on Credit watch with Developing Implications)
Sadbhav Infrastructure Project Ltd LT NonConvertible CARE A (CE) 1700 -
Debentures-IV
(Continues on Credit watch with Developing Implications)
Sadbhav Infrastructure Project Ltd LT NonConvertible CARE A (CE) 1900 -
Debentures-V
(Continues on Credit watch with Developing Implications)
Sadbhav Infrastructure Project Ltd LT / Short – term CARE A- /CARE 4000 -
Bk Fac A2+
(Continues on Credit watch with Developing Implications)
Sb Energy Pvt Ltd LT Bk Fac CARE A- (CE); 15000 Revised from
Stable CARE A-;
Stable
Secure Meters Ltd LT Bk Fac CARE AA-; 4416.9 Reaffirmed
Stable
(Removed from credit watch with developing implications)
Secure Meters Ltd LT/ ST Bk Fac CARE AA-; 5259.6 Reaffirmed
Stable/ A1+
(Removed from credit watch with developing implications)
Shakumbhari Solar Power Projects Pvt LT Bk Fac CARE BBB+ 432.4 Revised from
Ltd (CE)*; Stable CARE BBB+;
Stable
*The rating is based on the structure where all the three entities collectively called as UTT-1
shall be liable for the full amount of loan facility on a joint and several basis with the
respective borrowers as per the terms of the facility agreement.
Shiv Valley Highways Pvt Ltd LT Bk Fac – Fund CARE BBB (CE); 6960 Revised from
based Stable CARE BBB+
(CE); Stable
Shiv Valley Highways Pvt Ltd LT Bk Fac – Non CARE BBB (CE); 740 Revised from
Fund based Stable CARE BBB+
(CE); Stable
Shree Cement Ltd LT Bk Fac CARE AAA; 11000 Reaffirmed
Stable
Siddeshwari Tradex Pvt Ltd Issuer Rating CARE BBB (Is)* - Assigned
(Under credit watch with developing implications) / *The issuer rating is subject to the company
maintaining overall gearing at 0.50x or below.
Skre Solar Pvt Ltd LT Bk Fac CARE BB-; 400 Assigned
(Proposed) Stable
Slk Trade Linc LT/ST Bk Fac CARE BB; 125 Reaffirmed
Stable/ A4
Soccer International Pvt. Ltd LT Bk Fac CARE BBB; 78.3 Reaffirmed
Stable
(Outlook revised from Positive to Stable)
Soccer International Pvt. Ltd Long/ST Bk Fac CARE BBB; 740 Reaffirmed
Stable / A3+
(Outlook revised from Positive to Stable)
Sree Siva Ram And Company LT Bk Fac CARE BB; Stable50 Reaffirmed
Sri M.S.P. Velayutha Nadar LT Bk Fac CARE B+; Stable30 Reaffirmed
Star Plastics LT Bk Fac CARE BB; Stable535 Reaffirmed
Sushma Buildtech Ltd LT Bk Fac CARE BB-; 1049.1 Revised from
Stable CARE BB+;
Stable
(Issuer not cooperating)
Triton Maritime Pvt Ltd LT Bk Fac- TL CARE BBB-; 190 Reaffirmed
Stable
Trust Investment Advisors Pvt Ltd NCD* - - Withdrawn
*rating assigned is withdrawn with immediate effect, as the company has fully repaid the amount
under the said instrument and there is no amount outstanding under the issue.
Trust Investment Advisors Pvt Ltd LT Bk Fac CARE A; Stable 8000 Reaffirmed
Trust Investment Advisors Pvt Ltd NCD CARE A; Stable 2250 Assigned
Unimoni Financial Services Ltd LT Bk Fac CARE BBB; 7382.5 Revised from
(Erstwhile Uae Exchange & Financial Stable CARE BBB+;
Services Ltd) Stable
Union Bank Of India Upper Tier II CARE AA 10000 Continues to
Bonds (Basel II) @ be on credit
watch
@: CARE has rated the aforesaid Upper Tier II Bonds one notch lower than the Lower Tier II Bonds
in view of their increased sensitiveness to the Union Bank of India’s Capital Adequacy Ratio
(CAR), capital raising ability and profitability during the long tenure of the instruments. The
rating factors in the additional risk arising due to the existence of the lock in clause in
hybrid instruments. Any delay in payment of interest/principal (as the case may be) following
the invocation of the lock-inclause, would constitute as an event of default as per CARE’s
definition of default and as such these instruments may exhibit a somewhat sharper migration of
rating compared to conventional subordinated debt instruments.
Union Bank Of India Perpetual Bonds CARE AA- 20000 Continues to
(Basel III) # be on credit
watch
#: CARE has rated the aforesaid Basel III Compliant Additional Tier-I Bonds after taking into
consideration its key features as mentioned below: The bank has full discretion at all times to
cancel coupon payments. The coupon is to be paid out of current year profits. However, if the
current year’s profits are not sufficient, i.e., payment of such coupon is likely to result in
losses during the current year, the balance of coupon payment may be made out of revenue
reserves including statutory reserves and/or credit balance in profit and loss account and
excluding share premium, revaluation reserve, foreign currency translation reserve, investment
reserve and reserves created on amalgamation provided the bank meets the minimum regulatory
requirements for Common Equity Tier I [CET I], Tier I and Total Capital Ratios and capital
buffer frameworks as prescribed by the Reserve Bank of India . The instrument may be
written-down upon CET I breaching the pre-specified trigger of 5.5% before March 31, 2019, and
6.125% on and after March 31, 2019, or written-off / converted into common equity shares on
occurrence of the trigger event called point of non-viability (PONV). The PONV trigger shall be
determined by RBI.
Union Bank Of India Lower Tier II CARE AA+ 8000 Continues to
Bonds (Basel II) be on credit
watch
Universal Stainless Long- term Bk Fac CARE B; Stable 51.5 Reaffirmed
Virendra & Company LT Bk Fac CARE BBB-; 60 Reaffirmed
Stable
Walwhan Solar Bh Ltd LT Bk Fac@ CARE AA- (CE); 1400@ Reaffirmed
Stable
@ backed by unconditional and irrevocable corporate guarantee provided by Walwhan Renewable
Energy Limited (WREL, rated CARE AA (CE); Stable/CARE AA-; Stable/CARE A1+) to the lender of
Walwhan Solar BH Limited (WSBHL).
Wfb Baird And Company Pvt Ltd LT Bk Fac CARE BBB; 318.8 Reaffirmed
Stable
(Outlook revised from Negative to Stable)
Wfb Baird And Company Pvt Ltd LT/ST Bk Fac CARE BBB; 330 Reaffirmed
Stable/ A3+
(Outlook revised from Negative to Stable)
Zeal Metaliks Pvt Ltd LT Bk Fac CARE BB; Stable180 Reaffirmed
--------------------------------------------------------------------------------------------
$: 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@thomsonreuters.com)
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