CRISIL ratings for Indian debt instruments-Apr 3

Tue Apr 3, 2012 12:22pm IST

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 rru.data@reuters.com)
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