CARE ratings for Indian debt instruments-Dec 19

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CARE ratings for Indian debt instruments-Dec 19
Credit: © Reuters.

Dec 19 (Reuters) - Below are the ratings awarded by Credit Analysis and Research Ltd. (CARE) for local debt instruments as of December 18, 2019. COMPANY

INSTRUMENT

RATING

AMOUNT MOVEMENT

(RS.MLN) -------

----------

------

------- --------- SHORT TERM RATINGS: ------------------- Ace Tyres Ltd

ST Bk Fac

CARE A1+

Reaffirmed Amartara Pvt Ltd

ST Bk Fac

CARE A4

Reaffirmed Ashoka Manufacturing Ltd

ST Bk Fac

CARE D

Revised from

CARE A4+ Ashok Khandelwal

ST BkFac

CARE A4

49.5 (Issuer Not Cooperating) G.R. Fabrics Pvt Ltd

ST Bk Fac

CARE A4

Reaffirmed Icici Prudential (LON: PRU ) Mutual Fund

ST Bk Fac

CARE A1+

65000 Reaffirmed Independent News Services Pvt Ltd

ST Bk Fac

CARE A1+

Reaffirmed Jsw Energy (Barmer) Ltd

CPIssue

CARE A1+

1000 (Placed on Credit watch with Negative Implications) Jsw Energy Ltd

CPIssue

CARE A1+

7000 (Placed on Credit watch with Negative Implications) Jsw Hydro Energy Ltd

CPIssue

CARE A1+

3000 Placed on Credit watch with Negative Implications Kkr India Financial Services Ltd

Withdrawn Laxminarayan Spinners (I) Pvt Ltd

ST Bk Fac

CARE A4

Reaffirmed Merino Industries Ltd

ST BkFac

CARE A1+

Reaffirmed (enhanced from RS.125.00 crore Crore) Merino Panel Products Ltd

ST BkFac

CARE A1+

Reaffirmed National Bulk Handling Corporation PvtST Bk Fac

CARE A1

Revised from Ltd

CARE A1+ (reduced from 131.00 Crore) National Bulk Handling Corporation PvtCP (carved out of CARE A1

Revised from Ltd

working capital

CARE A1+

limits) (reduced from Rs. 350 Crore) Neilsoft Pvt Ltd (Formerly Known As ST Bk Fac

CARE A2

Reaffirmed Neilsoft Ltd) Tata Steel Bsl Ltd

CARE A1+

20000 Reaffirmed Uni-Com India Pvt Ltd

ST Bk Fac

CARE A2+

Reaffirmed Vilas Polymer Ltd

ST Bk Fac

CARE A2+

Reaffirmed Vinshil Polychem

ST Bk Fac

CARE A4

Reaffirmed Western Heat And Forge Pvt Ltd

ST BkFac

CARE A3

Reaffirmed LONG TERM RATINGS: ------------------- Aastha Travels Pvt Ltd

LT/ ST Bk Fac

Reaffirmed at

CARE BB;

Stable/ CARE A4

and Withdrawn Aastha Travels Pvt Ltd

Long- Term Bk Fac -

Reaffirmed at

CARE BB

Stable and

Withdrawn Ace Tyres Ltd

LT Bk Fac

CARE A+;

Reaffirmed

Stable Amartara Pvt Ltd

LT Bk Fac

CARE B+;

Revised from

Stable

CARE BB;

Stable Amartara Pvt Ltd

Long / ST BkFac

CARE B+;

252.5 Revised from

Stable/CARE A4

CARE BB;

Stable/ short term rating reaffirmed Ashok Khandelwal

LT BkFac

CARE BB-;

Revised from

Stable

CARE BB;

Stable (Issuer Not Cooperating) Ashoka Manufacturing Ltd

LT Bk Fac

CARE D

Revised from

CARE BB;

Stable Cccl Infrastructure Ltd

LT Bk Fac

CARE D

Revised from

CARE BB-;

Stable (Issuer Not Cooperating) Devangi Construction

LT Bk Fac

CARE B+;

Reaffirmed

Stable; (removed from Issuer NonCooperation category) Edelweiss Finance And Investments Ltd NCDs (Public

CARE AA-;

Assigned

issue)

Stable G.R. Fabrics Pvt Ltd

LT Bk Fac

CARE BB-;

Reaffirmed

Stable Garg Polypacks Pvt Ltd

LT Bk Fac

CARE BB-;

Stable (Issuer Not Cooperating) H M Steels Ltd

LT Bk Fac

CARE BB-;

449.6 Revised from

Stable

CARE B+;

Stable (reduced from Rs 49.03 crore Crore) Icici Prudential Mutual Fund

Overdraft

Withdrawn

facility^ ^Based on the No Dues Email provided by the bank that has extended the facility rated by CARE Independent News Services Pvt Ltd

LT Bk Fac

CARE A+; Stable180

Reaffirmed Ipca Laboratories (NS: IPCA ) Ltd

LT/ST Bk Fac

CARE AA;

11400 Reaffirmed

Stable/CARE A1+ Jai Hind Wire Rod Mills Pvt Ltd

Long -term Bk Fac CARE BB-;

Reaffirmed

Stable Laxminarayan Spinners (I) Pvt Ltd

LT Bk Fac

CARE BB-;

Reaffirmed

Stable Merino Industries Ltd

LT BkFac

CARE AA-;

1697.7 Reaffirmed

Stable ( enhanced from Rs.116.05 Crore) Merino Industries Ltd

LT/STBk Fac

CARE AA-;

Reaffirmed

Stable/CARE A1+ Merino Panel Products Ltd

LT BkFac

CARE AA-;

Reaffirmed

Stable Merino Panel Products Ltd

LT/STBk Fac

CARE AA-;

Reaffirmed

Stable/CARE A1+ Midas Naturals Pvt Ltd

LT BkFac

CARE BB;

213.6 Reaffirmed

Positive Outlook revised from Stable to Positive /(reduced from Rs 24.30 Crore) Mumbai Waste Management (NYSE: WM ) Ltd

LT Bk Fac – CC

Withdrawn Mumbai Waste Management Ltd

LT Bk Fac - TL

Withdrawn Nagpur Municipal Corporation

Bk Fac

CARE A-; Stable310

Reaffirmed Nagpur Municipal Corporation

Proposed Bk Fac

CARE A-; Stable1690

Reaffirmed National Bulk Handling Corporation PvtLT Bk Fac

CARE A; Stable 2307.1 Revised from Ltd

CARE A+;

Stable (reduced from 246.63 Crore) National Bulk Handling Corporation PvtLT/ST Bk Fac

CARE A;

Revised from Ltd

Stable/CARE A1

CARE A+;

Stable/ CARE A1+ (reduced from 555.00 Crore) Neilsoft Pvt Ltd (Formerly Known As LT Bk Fac

CARE A-;

587.7 Reaffirmed Neilsoft Ltd)

Stable Platina Steels Pvt Ltd

LT Bk Fac

CARE D

171.6 Revised from

CARE B (Issuer Not Cooperating) Pv Power Technologies Pvt Ltd

LT Bk Fac- TL

CARE BBB-;

Reaffirmed

Stable Pv Power Technologies Pvt Ltd

Long/ST – Fund

CARE BBB-;

Reaffirmed

Based

Stable/CARE A3 Pv Power Technologies Pvt Ltd

Long/ST – Non Fund CARE BBB-;

Reaffirmed

Based

Stable/CARE A3 Radhegovindkripa Developers Pvt Ltd LT Bk Fac

CARE BB-;

497.5 Assigned

Stable Shree Sai Lifestyles

LT Bk Fac

CARE BB;

Assigned

Stable Shrikripa Poultry Feeds

LT BkFac

CARE B; Stable;60

Revised from

CAREB+; Stable (Issuer Not Cooperating) Society Of Carmelite Sisters Of St. LT BkFac

CARE BB-;

117.8 Revised from Teresa

Stable

CARE BB;

Stable (Issuer Not Cooperating) Sri Scl Infratech Ltd

LT Bk Fac

CARE BB+;

Revised from

Stable

CARE BB;Stable Sri Scl Infratech Ltd

LT/ STBk Fac

CARE BB+;

Revised from

Stable/CARE A4+

BB;Stable/CARE

A4 Susheel Jewellery Mart (P) Ltd

LT Bk Fac

CARE BBB-;

Assigned

Stable Tamilnadu Waste Management Ltd

LT Bk Fac – CC

Withdrawn Tamilnadu Waste Management Ltd

LT Bk Fac - TL

Withdrawn Tata Steel Bsl Ltd

LT BkFac

CARE AA;

134000 Reaffirmed

Stable (reduced from Rs. 19,000.00 Crore) Tata Steel Bsl Ltd

LT / ST Bk Fac

CARE AA;

52000 Reaffirmed

Stable /CARE

A1+ Tata Steel Ltd

LT BkFac

CARE AA;

25000 Reaffirmed

Stable (reduced from Rs. 22,800.00 Crore) Tata Steel Ltd

CARE AA;

110000 Reaffirmed

Stable Tata Steel Ltd

Perpetual Bonds

CARE AA-;

22750 Reaffirmed

Stable Tri Square (NYSE: SQ ) Switchgear Pvt Ltd

LT BkFac

CARE BB; Stable139.2 (Issuer Not Cooperating) Tri Square Switchgear Pvt Ltd

LT/ ST BkFac

CARE BB;

Stable /CARE A4 (Issuer Not Cooperating) U I Fabricators Pvt Ltd

LT BkFac

CARE D

Revised from

CARE B+;

Stable (Issuer Not Cooperating) U I Fabricators Pvt Ltd

Proposed LTBk Fac CARE D

Revised from

CARE B+;

Stable (Issuer Not Cooperating) Uni-Com India Pvt Ltd

LT Bk Fac

CARE A-;

Reaffirmed

Stable Vilas Polymer Ltd

LT Bk Fac

CARE A; Stable 20

Reaffirmed Vinshil Polychem

LT Bk Fac

CARE B+; Stable5

Reaffirmed Western Heat And Forge Pvt Ltd

LT BkFac

CARE BBB;

258.8 Reaffirmed

Negative Outlook revised from Stable to Negative /(reduced from 26.58 Crore) Western Heat And Forge Pvt Ltd

LT/STBk Fac

CARE BBB;

Reaffirmed /

Negative/CARE

Short term

rating

reaffirmed Outlook Revised from Stable to Negative/(reduced from 41.50 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.

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