CRISIL ratings for Indian debt instruments-Sep 24

Sep 24 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of September 21, 2012.

COMPANY INSTRUMENT RATING AMOUNT MOVEMENT
(RS.MLN)
------ ---------- ------ ----- ---------
SHORT TERM RATINGS:
-------------------
Aryan Energy Pvt Ltd BG CRISIL A3+ 200 Reaffirmed
B.E. Billimoria and Company Ltd BG CRISIL A1 4017.8 Reaffirmed
B.E. Billimoria and Company Ltd Buyer Credit Limit CRISIL A1 117.2 Reaffirmed
B.E. Billimoria and Company Ltd Cash Management CRISIL A1 20 Reaffirmed
Service
B.E. Billimoria and Company Ltd Foreign Exchange Fac CRISIL A1 10 Reaffirmed
B.E. Billimoria and Company Ltd LOC CRISIL A1 150 Reaffirmed
B.E. Billimoria and Company Ltd LOC Bill Discounting CRISIL A1 50 Reaffirmed
Cornelius Pharmaceuticals Pvt Ltd LOC CRISIL A4 50 Assigned
Cornelius Pharmaceuticals Pvt Ltd Foreign Discounting CRISIL A4 80 Assigned
Bill Purchase
Cornelius Pharmaceuticals Pvt Ltd BG CRISIL A4 1.5 Assigned
Global Coal and Mining Pvt Ltd BG CRISIL A1 1000 Reaffirmed
Inox Wind Ltd LOC CRISIL A1 3250 Reaffirmed
Inox Wind Ltd Proposed LOC CRISIL A1 1450 Reaffirmed
Inox Wind Ltd CP CRISIL A1 1000 Assigned
Kunnam Granite Works Export Packing Credit CRISIL A4 120 Assigned
Kunnam Granite Works Foreign Bill CRISIL A4 5 Assigned
Discounting
Lincoln Pharmaceuticals Ltd BG CRISIL A3+ 20 Reaffirmed
Lincoln Pharmaceuticals Ltd LOC CRISIL A3+ 100 Reaffirmed
Microscan Computers Pvt Ltd BG CRISIL A4+ 260 Reaffirmed
Neeru Enterprises Packing Credit CRISIL A4+ 70 Assigned
Neeru Enterprises LOC CRISIL A4+ 130 Assigned
Neeru Enterprises Foreign Bill Purchase*CRISIL A4+ 90 Assigned
* Interchangable with Packing Credit to the extent of Rs.20.0 Million
Pan International Bill Discounting CRISIL A4+ 115 Reaffirmed
under LOC
Pan International Export Packing Credit CRISIL A4+ 8 Reaffirmed
Pan International LOC & BG CRISIL A4+ 5 Reaffirmed
Pan International Proposed ST Bk Loan CRISIL A4+ 82 Reaffirmed
Fac
R.A.K. Ceramics India Pvt Ltd LOC & BG CRISIL A2+ 355 Reaffirmed
R.A.K. Ceramics India Pvt Ltd Proposed ST Bk Loan CRISIL A2+ 50 Reaffirmed
Fac
Raj Associates BG CRISIL A4 48.5 Assigned
Shriram Transport Finance Company Ltd BG Fac CRISIL A1+ 27075 Reaffirmed
Shriram Transport Finance Company Ltd ST Debt Programme CRISIL A1+ 20000 Reaffirmed
Sitapuram Power Ltd LOC & BG CRISIL A3+ 50 Downgraded
from CRISIL
A2
Spectrum Coal and Power Ltd BG CRISIL A1 350 Reaffirmed
The Seksaria Biswan Sugar Factory Ltd LOC and BG CRISIL A2 40 Assigned
United Ship Breaking Co LOC CRISIL A4+ 350 Assigned

MEDIUM TERM RATINGS:
-------------------
Shriram Transport Finance Company Ltd FD Programme FAA+ Reaffirmed

LONG TERM RATINGS:
-------------------
B.E. Billimoria and Company Ltd CC CRISIL A 730 Reaffirmed
B.E. Billimoria and Company Ltd Proposed LT Bk Loan CRISIL A 30 Reaffirmed
Fac
B.E. Billimoria and Company Ltd WC TL CRISIL A 450 Reaffirmed
B.E. Billimoria and Company Ltd TL CRISIL A 1000 Reaffirmed
B.E. Billimoria and Company Ltd WC Demand Loan CRISIL A 1250 Reaffirmed
Capital Retreat Pvt Ltd LT Loan CRISIL B- 220 Assigned
Capital Retreat Pvt Ltd Proposed LT Bk Loan CRISIL B- 230 Assigned
Fac
Cornelius Pharmaceuticals Pvt Ltd LT Loan CRISIL B- 28.5 Assigned
Cornelius Pharmaceuticals Pvt Ltd CC CRISIL B- 50 Assigned
Darashaw & Company Pvt Ltd CC CRISIL BBB 1500 Reaffirmed
Darashaw & Company Pvt Ltd Overdraft Fac CRISIL BBB 4800 Reaffirmed
Darashaw & Company Pvt Ltd Proposed LT Bk Loan CRISIL BBB 700 Reaffirmed
Fac
Diya Systems (Mangalore) Pvt Ltd Foreign Currency TL CRISIL BB+ 280 Reaffirmed
Global Coal and Mining Pvt Ltd CC CRISIL A+ 400 Reaffirmed
Global Coal and Mining Pvt Ltd TL CRISIL A+ 430 Reaffirmed
Guru Nanak Rice & General Mill CC CRISIL B- 100 Assigned
Guru Nanak Rice & General Mill TL CRISIL B- 32.5 Assigned
Indian Council for International Amity CC/ Overdraft Fac CRISIL BBB+ 20 Upgraded
from CRISIL
BBB
Indian Council for International Amity Proposed TL CRISIL BBB+ 70.8 Upgraded
from CRISIL
BBB
Indian Council for International Amity TL CRISIL BBB+ 60 Upgraded
from CRISIL
BBB
Inox Wind Ltd CC CRISIL A- 650 Reaffirmed
Inox Wind Ltd LOC* CRISIL A- 100 Reaffirmed
* Cash Credit Limit of Rs.100 Million is the sub-limit of Letter of Credit/Buyer's Credit.
Inox Wind Ltd Proposed CC Limit CRISIL A- 1550 Reaffirmed
K.D.Agencies Pvt Ltd CC CRISIL BB- 105 Reaffirmed
Kems Forgings Ltd CC CRISIL B+ 135 Reaffirmed
Kems Forgings Ltd LT Loan CRISIL B+ 93.7 Reaffirmed
Kunnam Granite Works WC TL CRISIL B+ 27 Assigned
Lincoln Pharmaceuticals Ltd CC CRISIL BBB+ 320 Reaffirmed
Lincoln Pharmaceuticals Ltd Rupee TL CRISIL BBB+ 43.3 Reaffirmed

Lincoln Pharmaceuticals Ltd Standby LOC CRISIL BBB+ 30 Reaffirmed
Lincoln Pharmaceuticals Ltd Supplier Line of CRISIL BBB+ 19.2 Reaffirmed
Credit
Microscan Computers Pvt Ltd CC CRISIL BB 50 Reaffirmed
Microscan Computers Pvt Ltd TL CRISIL BB 290 Reaffirmed
Millennium Aero Dynamics Pvt Ltd CC* CRISIL B 45 Assigned
*Includes the Bank Guarantee of Rs. 10.00 Million
Millennium Aero Dynamics Pvt Ltd WC Demand Loan CRISIL B 15 Assigned
Neeru Enterprises CC CRISIL BB+ 10 Assigned
Neeru Enterprises Proposed LTBk Loan FacCRISIL BB+ 50 Assigned
Orchid Industries Pvt Ltd CC CRISIL B+ 140 Upgraded
from CRISIL B
Orchid Industries Pvt Ltd Proposed LT Bk Loan CRISIL B+ 16.8 Upgraded
Fac from CRISIL B
Orchid Industries Pvt Ltd TL CRISIL B+ 43.2 Upgraded
from CRISIL B
P.I. Jewellers Pvt Ltd CC CRISIL BB- 160 Reaffirmed
Padmavati Pulp & Paper Mills CC CRISIL B+ 80 Reaffirmed
Padmavati Pulp & Paper Mills Proposed LT Bk Loan CRISIL B+ 55.4 Reaffirmed
Fac
Padmavati Pulp & Paper Mills TL CRISIL B+ 54.6 Reaffirmed
PVR bluO Entertainment Ltd TL CRISIL BBB- 150 Assigned
R.A.K. Ceramics India Pvt Ltd CC* CRISIL A- 830 Reaffirmed
* Includes Rs.150.0 Million interchangeable with short-term loan/packing credit/buyers
credit/export bill discounting; Includes Rs.520.0 Million interchangeable with packing
credit/buyers credit/export bill discounting
R.A.K. Ceramics India Pvt Ltd Foreign Currency TL CRISIL A- 520 Reaffirmed
R.A.K. Ceramics India Pvt Ltd Proposed LT Bk Loan CRISIL A- 447 Reaffirmed
Fac
R.A.K. Ceramics India Pvt Ltd WC Demand Loan CRISIL A- 250 Reaffirmed
Raj Associates Proposed LT Bk Loan CRISIL B+ 16 Assigned
Fac
Raj Associates CC CRISIL B+ 20 Assigned
Ritu Shipping Pvt Ltd CC CRISIL B 150 Assigned
Shri Santkrupa Cotton Industries TL CRISIL C 14 Assigned
Shri Santkrupa Cotton Industries CC CRISIL C 50 Assigned
Shri Santkrupa Cotton Industries Proposed LT Bk Loan CRISIL C 6 Assigned
Fac
Shriram Transport Finance Company Ltd LT Bk Fac CRISIL AA 71545.2 Assigned
Shriram Transport Finance Company Ltd Proposed LT Bk Loan CRISIL AA 35879.8 Assigned
Fac
Shriram Transport Finance Company Ltd CC/WC Demand Loan* CRISIL AA 53412.5 Reaffirmed
*Rs.1.75 billion of cash credit/working capital demand loan facility is interchangeable with
bank guarantee facility.
Shriram Transport Finance Company Ltd Proposed CC Fac* CRISIL AA 4087.5 Reaffirmed
*interchangeable with working capital demand loans
Shriram Transport Finance Company Ltd BG Fac CRISIL AA 8000 Reaffirmed
Shriram Transport Finance Company Ltd NCD Issue CRISIL AA 5000 Reaffirmed
Shriram Transport Finance Company Ltd NCD Issue CRISIL AA 5000 Reaffirmed
Shriram Transport Finance Company Ltd NCDs CRISIL AA 41000 Reaffirmed
Shriram Transport Finance Company Ltd Subordinated Debt CRISIL AA 7000 Reaffirmed
Issue (Tier-II Bonds)
Sitapuram Power Ltd CC CRISIL BBB 200 Downgraded
from CRISIL
BBB+
Sitapuram Power Ltd LT Loan CRISIL BBB 500 Downgraded
from CRISIL
BBB+
Spectrum Coal and Power Ltd CC CRISIL A+ 650 Reaffirmed
Spectrum Coal and Power Ltd Foreign Currency TL CRISIL A+ 1739.8 Reaffirmed
Spectrum Coal and Power Ltd TL CRISIL A+ 1850 Reaffirmed
The Seksaria Biswan Sugar Factory Ltd CC CRISIL BBB+ 1000 Assigned
The Seksaria Biswan Sugar Factory Ltd TL CRISIL BBB+ 52 Assigned
--------------------------------------------------------------------------------------------
$: 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 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)