CRISIL ratings for Indian debt instruments-Apr 3
Apr 3 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL) for local debt instruments as of April 2, 2012. COMPANY INSTRUMENT RATING AMOUNT MOVEMENT RS.MLN) ------ ---------- ------ ------ --------- SHORT TERM RATINGS: ------------------- A K Engineers BG CRISIL A4 60 Assigned Afeef Cashew Company Packing Credit CRISIL A4+ 65^ Suspended ^Includes sublimit for post-shipment credit of Rs.20.0 Million Afeef Cashew Company Post-Shipment Credit CRISIL A4+ 10 Suspended Alpha International CC CRISIL BB- 15* Suspended *Utilisable as packing credit Alpha International Packing Credit CRISIL A4+ 58^ Suspended ^Includes sublimit for post-shipment credit of Rs.20.0 Million Britannia Industries Ltd Vendor Financing CRISIL A1+ 100 Reaffirmed Britannia Industries Ltd ST Loan CRISIL A1+ 600 Reaffirmed Britannia Industries Ltd Buyers Finance CRISIL A1+ 21 Reaffirmed Britannia Industries Ltd Overdraft Facility CRISIL A1+ 1270 Reaffirmed Britannia Industries Ltd BG CRISIL A1+ 80 Reaffirmed Britannia Industries Ltd LOC* CRISIL A1+ 379.5 Reaffirmed *Interchangeable with bank guarantees Britannia Industries Ltd Packing Credit CRISIL A1+ 70 Reaffirmed Clp India Pvt Ltd LOC & BG CRISIL A1+ 1800 Assigned Edelweiss Housing Finance ST Bk Facility CRISIL A1+ 350 Assigned Ltd Infotech Enterprises Ltd BG CRISIL A1+ 150 Reaffirmed Infotech Enterprises Ltd LOC CRISIL A1+ 50 Reaffirmed Infotech Enterprises Ltd Packing Credit CRISIL A1+ 300 Reaffirmed Infotech Enterprises Ltd Packing Credit CRISIL A1+ 200 Reaffirmed Foreign Currency Inventia Healthcare Pvt Ltd LOC CRISIL A2 50 Downgraded from CRISIL A2+ L&T-Valdel Engineering Ltd BG CRISIL A1+ 35 Reaffirmed L&T-Valdel Engineering Ltd Proposed BG CRISIL A1+ 145 Reaffirmed Labdhi International Pvt Ltd LOC CRISIL A4+ 80 Reaffirmed Labdhi International Pvt Ltd BG CRISIL A4+ 25 Reaffirmed Neoteric Infomatique Ltd Bill Discounting^ CRISIL A4+ 200 Placed on Notice of Withdrawal ^ Interchangeable with buyer's credit and bank guarantee to the extent of Rs.180 million Neoteric Infomatique Ltd LOC# CRISIL A4+ 680 Placed on Notice of Withdrawal # Interchangeable with buyer's credit and bank guarantee Niit Technologies Ltd LOC CRISIL A1+ 1190 Reaffirmed Platina Vitrified Pvt Ltd BG CRISIL A4 27.5 Assigned R. J. & Sons Marketing Pvt BG CRISIL A4+ 20 Assigned Ltd R.K. Construction Company BG CRISIL A4+ 75 Reaffirmed Radhika Exports Bill CRISIL A4+ 60 Reaffirmed Purchase-Discounting Facility Radhika Exports LOC CRISIL A4+ 55 Reaffirmed Radhika Exports Packing Credit CRISIL A4+ 60 Reaffirmed Riviera Home Furnishings Pvt Export Packing Credit* CRISIL A2 450 Upgraded from Ltd CRISIL A3+ *Interchangeable with Foreign Bills Payable Varroc Exhaust Systems Pvt Buyer Credit Limit CRISIL A1 60 Reaffirmed Ltd LONG TERM RATINGS: ------------------- A K Engineers CC CRISIL B 22.5 Assigned Afeef Cashew Company CC CRISIL BB- 15* Suspended *Utilisable as packing credit Afeef Cashew Company TL CRISIL BB- 3 Suspended Al-Aziz And Company CC CRISIL D 15* Suspended Al-Aziz And Company TL CRISIL D 3 Suspended ^Includes sublimit for post-shipment credit of Rs.20.0 Million Al-Aziz And Company Packing Credit CRISIL D 65^ Suspended Al-Aziz And Company Post-Shipment Credit CRISIL D 10 Suspended Bhagwati Sponge Pvt Ltd CC CRISIL D 32 Suspended Bhagwati Sponge Pvt Ltd BG CRISIL D 5 Suspended Bhagwati Sponge Pvt Ltd Long-TL CRISIL D 63 Suspended Britannia Industries Ltd WC Demand Loan CRISIL AAA 750 Reaffirmed Britannia Industries Ltd CC* CRISIL AAA 1493 Reaffirmed *Interchangeable with working capital demand loan Britannia Industries Ltd Proposed LT Bk Loan CRISIL AAA 236.5 Reaffirmed Facility# # Sanctioned, unallocated limits Clp India Pvt Ltd CC*^ CRISIL AA 7200 Assigned *Fund based limits are fully interchangeable with non-fund based limits ^Interchangeable with Bill Discounting Clp India Pvt Ltd Proposed LT Bk Loan CRISIL AA 2350 Assigned Facility Clp India Pvt Ltd TL CRISIL AA 4350 Assigned Edelweiss Housing Finance Overdraft Facility CRISIL AA- 900 Assigned Ltd Inventia Healthcare Pvt Ltd CC* CRISIL 150 Downgraded BBB+ from CRISIL A- * Interchangeable with packing credit in foreign currency and working capital demand loan Inventia Healthcare Pvt Ltd Long-TL CRISIL BBB+ 155 Downgraded from CRISIL A- Inventia Healthcare Pvt Ltd Proposed LT Bk Loan CRISIL 48 Downgraded Facility BBB+ from CRISIL A- L&T-Valdel Engineering Ltd Proposed CC Limit CRISIL AA+ 40 Reaffirmed L&T-Valdel Engineering Ltd CC CRISIL AA+ 10 Reaffirmed L&T-Valdel Engineering Ltd Proposed TL CRISIL AA+ 20 Reaffirmed Labdhi International Pvt Ltd CC CRISIL BB- 70 Reaffirmed Labdhi International Pvt Ltd Cheque Discounting CRISIL BB- 5 Reaffirmed Neoteric Infomatique Ltd CC* CRISIL 555 Placed on BB+ Notice of Withdrawal *Fully interchangeable with letter of credit, bank guarantee, and buyer's credit to the extent of Rs.75 million; with working capital demand loan to the extent of Rs.50 million; with bill discounting and working capital demand loan to the extent of Rs.50 million; with foreign currency loan to the extent of Rs.300 million; and with buyer's credit and bank guarantee to the extent of Rs.70 million Neoteric Infomatique Ltd Proposed LT Bk Loan CRISIL 365 Placed on Facility BB+ Notice of Withdrawal Niit Technologies Ltd CC CRISIL AA 610 Reaffirmed Platina Vitrified Pvt Ltd TL CRISIL B+ 160 Assigned Platina Vitrified Pvt Ltd CC CRISIL B+ 50 Assigned *Utilisable as packing credit R. J. & Sons Marketing Pvt CC CRISIL BB 30 Assigned Ltd R.K. Construction Company CC CRISIL BB 20 Reaffirmed Reliable Paper Company CC CRISIL B- 200 Suspended Reliance Infrastructure Ltd Proposed LT Bk Loan CRISIL AA+ 10000 Reaffirmed Facility Riviera Home Furnishings Pvt TL CRISIL 370 Upgraded from Ltd BBB+ CRISIL BBB S. N. Milk Products Pvt Ltd CC CRISIL BB- 80 Reaffirmed S. N. Milk Products Pvt Ltd TL CRISIL BB- 64.3 Reaffirmed Samyu Glass Pvt Ltd CC CRISIL D 19.5 Downgraded from CRISIL B+ Samyu Glass Pvt Ltd TL CRISIL D 282.3 Downgraded from CRISIL B+ Samyu Glass Pvt Ltd Packing Credit CRISIL D 38.2 Downgraded from CRISIL B+ Shivam Foods Pvt Ltd CC CRISIL BB- 76 Reaffirmed Sri Durga Cloth Stores CC CRISIL BB- 31.5 Reaffirmed Sri Durga Cloth Stores TL CRISIL BB- 24.6 Reaffirmed Tml Direct Assignment I Acquirer payouts CRISIL AAA(SO) 1607.7 Withdrawn Mar 2009 Tml Direct Assignment I Second loss facility CRISIL AAA(SO) 319.9 Withdrawn Mar 2009 Varroc Exhaust Systems Pvt CC CRISIL A+ 50 Reaffirmed Ltd Varroc Exhaust Systems Pvt Proposed LT Bk Loan CRISIL A+ 2.7 Reaffirmed Ltd Facility -------------------------------------------------------------------------------------------- $: 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 CRISIL 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, E-mail at email@example.com)
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.
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