CRISIL ratings for Indian debt instruments-Nov 29

Thu Nov 29, 2012 11:47am IST

Nov 29 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 28, 2012.

COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Apotex PharmaChem India Pvt Ltd         Packing Credit in     CRISIL A2    320     Reaffirmed
                                        Foreign Currency
Arr Ess Industries Pvt Ltd              LOC                   CRISIL D     10      Downgraded
                                                                                   from CRISIL
                                                                                   A4+
Bora Agro Foods                         LOC & BG              CRISIL A3    30      Suspended
Bora Agro Foods                         Packing Credit in     CRISIL A3    240     Suspended
                                        Foreign Currency
Canara Bank                             CDs                   CRISIL A1+   500000  Reaffirmed
Chengmari Tea Co Ltd                    LOC & BG              CRISIL A4+   7       Reaffirmed
Dharani Hi-Tech Projects Pvt Ltd        BG                    CRISIL A4    10      Assigned
Gill & Company Pvt Ltd                  Packing Credit        CRISIL A3    140     Reaffirmed
Gill & Company Pvt Ltd                  Packing Credit^       CRISIL A3    300     Reaffirmed
^Fully interchangeable with packing credit in foreign currency, foreign bills purchasing/foreign
bills discounting and interchangeable with short term loan of Rs.100
Gill & Company Pvt Ltd                  Packing Credit$       CRISIL A3    1000    Reaffirmed
$ Fully interchangeable with export bill discounting, letter of credit of Rs.450 million and
bank guarantee of Rs.500 million
Graffiti Exports                        Packing Credit        CRISIL A4    30      Assigned
Graffiti Exports                        LOC                   CRISIL A4    15      Assigned
Graffiti Exports                        Foreign Bill          CRISIL A4    33      Assigned
                                        Discounting
H R Ispat Pvt Ltd                       LOC                   CRISIL A4+   11.6    Assigned
Hanuman Rice & General Mills            Packing Credit        CRISIL A4    40      Assigned
Homa Engineering Works                  Proposed ST Bk Loan   CRISIL A4    20      Assigned
                                        Fac
Homa Engineering Works                  Letter Of Guarantee   CRISIL A4    40      Assigned
Indwell Constructions Pvt Ltd           BG                    CRISIL A3+   250     Assigned
Jagran Prakashan Ltd                    LOC*                  CRISIL A1+   1100    Reaffirmed
* Fully interchangeable with bank guarantee
Jayashree Electron Pvt Ltd              LOC                   CRISIL A4+   3       Assigned
Jayashree Electron Pvt Ltd              BG                    CRISIL A4+   10      Assigned
Kailas Ceramics Pvt Ltd                 LOC                   CRISIL A4    50      Assigned
Kay Pee Metals and Alloys Pvt Ltd       BG                    CRISIL A4+   5       Upgraded
                                                                                   from CRISIL
                                                                                   A4
Kay Pee Metals and Alloys Pvt Ltd       LOC                   CRISIL A4+   90      Upgraded
                                                                                   from CRISIL
                                                                                   A4
Laborate Pharmaceuticals India Ltd      Packing Credit        CRISIL A2    180     Reaffirmed
Laborate Pharmaceuticals India Ltd      LOC*                  CRISIL A2    40      Reaffirmed
Laborate Pharmaceuticals India Ltd      BG*                   CRISIL A2    40      Reaffirmed
Maruti Suzuki India Ltd                 LOC^                  CRISIL A1+   8000    Reaffirmed
^ Interchangeable with bank guarantee
Maxim Tubes Company Pvt Ltd             BG                    CRISIL A4    8.5     Reaffirmed
* Includes sub limit of 20 Million Packing Credit and Foreign Bill Discounting
Maxim Tubes Company Pvt Ltd             Packing Credit        CRISIL A4    40      Reaffirmed
Maxim Tubes Company Pvt Ltd             LOC                   CRISIL A4    70      Reaffirmed
Metro Cash & Carry India Pvt Ltd        ST Loan               CRISIL A1    1000    Reaffirmed
My Car (Pune) Pvt Ltd                   BG                    CRISIL A4    20      Assigned
NKCM Spinners Pvt Ltd                   LOC                   CRISIL A4+   10      Upgraded
                                                                                   from CRISIL
                                                                                   A4
Nucon Power Controls Pvt Ltd            BG#                   CRISIL A2+   400     Downgraded
                                                                                   from CRISIL
                                                                                   A1
# Interchangeable between letter of credit and bank guarantee up to Rs.50 million
Nucon Power Controls Pvt Ltd            LOC                   CRISIL A2+   25      Downgraded
                                                                                   from CRISIL
                                                                                   A1
Nucon Switchgears Pvt Ltd               BG$                   CRISIL A2+   610     Downgraded
                                                                                   from CRISIL
                                                                                   A1
$ Interchangeable between letter of credit and bank guarantee up to Rs.100 million
Sai Life Sciences Ltd                   LOC                   CRISIL A2    130     Assigned
Sai Life Sciences Ltd                   BG                    CRISIL A2    40      Assigned
Saj Food Products Pvt Ltd               BG                    CRISIL A3+   10      Suspended
Samsung Overseas Ltd                    BG                    CRISIL A3    3       Reaffirmed
Samsung Overseas Ltd                    Bill Discounting      CRISIL A3    250     Reaffirmed
Samsung Overseas Ltd                    LOC                   CRISIL A3    700     Reaffirmed
SAR Ispat Pvt Ltd                       LOC                   CRISIL A4    120     Assigned
Sree Ayyanar Spinning and Weaving Mills Foreign Bill Purchase CRISIL A4+   60      Reaffirmed
Limite
Sree Ayyanar Spinning and Weaving Mills LOC                   CRISIL A4+   170     Reaffirmed
Limite
Sree Rani Sati Overseas Pvt Ltd         LOC*                  CRISIL A4    100     Reaffirmed
*Includes sublimit of buyer's credit facility of Rs.100 mn
Thota Coldcel Pvt Limite                LOC                   CRISIL A4    15      Assigned
Thota Coldcel Pvt Limite                BG                    CRISIL A4    17.5    Assigned

LONG TERM RATINGS:
-------------------
A M Marketing Ltd                       CC                    CRISIL BBB+  65      Suspended
Aar Aar Technoplast Pvt Ltd             CC                    CRISIL BB+   75      Upgraded
                                                                                   from CRISIL
                                                                                   BB
Aar Aar Technoplast Pvt Ltd             TL                    CRISIL BB+   22.5    Upgraded
                                                                                   from CRISIL
                                                                                   BB
Airflow Equipments India Pvt Ltd        CC                    CRISIL D     50      Downgraded
                                                                                   from CRISIL
                                                                                   BB-
Airflow Equipments India Pvt Ltd        LT Loan               CRISIL D     121     Downgraded
                                                                                   from CRISIL
                                                                                   BB-
Airflow Equipments India Pvt Ltd        Proposed CC Limit     CRISIL D     14      Downgraded
                                                                                   from CRISIL
                                                                                   BB-
Andhra Bank                             Perpetual Tier-I BondsCRISIL AA+   2000    Reaffirmed
Andhra Bank                             Upper Tier-II Bonds   CRISIL AA+   7200    Reaffirmed
Arr Ess Industries Pvt Ltd              CC                    CRISIL D     190     Downgraded
                                                                                   from CRISIL
                                                                                   BB-
Bhujbal Constron                        TL                    CRISIL B     80      Assigned
Bivab Developers Pvt Ltd                TL                    CRISIL D     50      Assigned
Canara Bank                             Perpetual Tier I      CRISIL AAA   15896   Reaffirmed
                                        Bonds
Canara Bank                             Upper Tier II Bonds   CRISIL AAA   20000   Reaffirmed
Canara Bank                             Lower Tier II Bonds   CRISIL AAA   34250   Reaffirmed
Chengmari Tea Co Ltd                    CC                    CRISIL BB    121.6   Reaffirmed
Dharani Hi-Tech Projects Pvt Ltd        Overdraft Fac         CRISIL C     50      Assigned
Gill & Company Pvt Ltd                  Proposed LT Bk Loan   CRISIL BBB-  250     Reaffirmed
                                        Fac
Gill & Company Pvt Ltd                  CC*                   CRISIL BBB-  300     Reaffirmed
* Fully interchangeable with packing credit
Gill & Company Pvt Ltd                  CC#                   CRISIL BBB-  500     Reaffirmed
# Fully Interchangeable with export packing credit, packing credit in foreign currency foreign
bills purchasing/foreign bills discounting and interchangeable with Rs
Gill & Company Pvt Ltd                  Foreign Bill          CRISIL BBB-  220     Reaffirmed
                                        Discounting
Goldvision Entertainment Pvt Ltd        CC                    CRISIL BB    250     Downgraded
                                                                                   from CRISIL
                                                                                   BBB-
Goldvision Entertainment Pvt Ltd        TL                    CRISIL BB    1000    Downgraded
                                                                                   from CRISIL
                                                                                   BBB-
Graffiti Exports                        TL                    CRISIL B+    35      Assigned
Graffiti Exports                        CC                    CRISIL B+    15      Assigned
H R Ispat Pvt Ltd                       CC                    CRISIL BB-   80      Assigned
Hanuman Rice & General Mills            CC                    CRISIL B-    100     Assigned
Homa Engineering Works                  CC                    CRISIL B     20      Assigned
Indwell Constructions Pvt Ltd           CC                    CRISIL BBB   16      Assigned
Jagran Prakashan Ltd                    CC                    CRISIL AA+   1750    Reaffirmed
Jagran Prakashan Ltd                    TL                    CRISIL AA+   900     Reaffirmed
Jayashree Electron Pvt Ltd              Rupee TL              CRISIL BB    10      Assigned
Jayashree Electron Pvt Ltd              Proposed LT Bk Loan   CRISIL BB    14      Assigned
                                        Fac
Jayashree Electron Pvt Ltd              CC                    CRISIL BB    23      Assigned
Jhanwar Rice & Dall Mill                TL                    CRISIL B     9       Assigned
Jhanwar Rice & Dall Mill                CC                    CRISIL B     70      Assigned
Jhanwar Rice & Dall Mill                Proposed LT Bk Loan   CRISIL B     1       Assigned
                                        Fac
Kailas Ceramics Pvt Ltd                 CC                    CRISIL B     10      Assigned
Kalp Diamonds                           Post-Shipment Credit  CRISIL BB-   110     Reaffirmed
Kalp Diamonds                           Export Packing Credit CRISIL BB-   40      Reaffirmed
Kay Pee Metals and Alloys Pvt Ltd       CC                    CRISIL BB-   50      Upgraded
                                                                                   from CRISIL
                                                                                   B+
Kay Pee Metals and Alloys Pvt Ltd       LT Loan               CRISIL BB-   9       Upgraded
                                                                                   from CRISIL
                                                                                   B+
Kay Pee Metals and Alloys Pvt Ltd       Proposed LT Bk Loan   CRISIL BB-   18      Upgraded
                                        Fac                                        from CRISIL
                                                                                   B+
Khimesara Silk Mills Pvt Ltd            CC                    CRISIL B+    20      Assigned
Khimesara Silk Mills Pvt Ltd            Proposed LT Bk Loan   CRISIL B+    30      Assigned
                                        Fac
KKP Hi Tech Weaving India Pvt Ltd       CC                    CRISIL B+    50      Assigned
KKP Hi Tech Weaving India Pvt Ltd       LT Loan               CRISIL B+    73.4    Assigned
Laborate Pharmaceuticals India Ltd      CC                    CRISIL BBB+  300     Reaffirmed
Laborate Pharmaceuticals India Ltd      TL                    CRISIL BBB+  30      Reaffirmed
Mahavir Fibre Industries                CC                    CRISIL B+    35      Assigned
Mahavir Fibre Industries                Proposed LT Bk Loan   CRISIL B+    15      Assigned
                                        Fac
Malles Constructions Pvt Ltd            LT Loan               CRISIL BB-   50      Assigned
Malles Constructions Pvt Ltd            Overdraft Fac         CRISIL BB-   50      Assigned
Maruti Suzuki India Ltd                 CC#                   CRISIL AAA   22000   Reaffirmed
# Interchangeable with working capital demand loans/ buyers credit/packing credit/post 
shipment credit facilities; Upto Rs. 15.65 billion is interchangeable with Letter 
of Credit and Bank Guarantee 
Maxim Tubes Company Pvt Ltd             CC                    CRISIL B+    50      Reaffirmed
Maxim Tubes Company Pvt Ltd             Credit Limit Under    CRISIL B+    8       Reaffirmed
                                        Gold Card
Maxim Tubes Company Pvt Ltd             Proposed LT Bk Loan   CRISIL B+    59.1    Reaffirmed
                                        Fac
Maxim Tubes Company Pvt Ltd             TL                    CRISIL B+    84.4    Reaffirmed
Metro Cash & Carry India Pvt Ltd        LT Loan               CRISIL A     3250    Reaffirmed
Metro Cash & Carry India Pvt Ltd        Proposed LT Bk Loan   CRISIL A     3380    Reaffirmed
                                        Fac
Metro Cash & Carry India Pvt Ltd        WC Loan*              CRISIL A     810     Reaffirmed
*Upto Rs. 160 Million interchangeable with letter of credit/ bank guarantee
My Car (Pune) Pvt Ltd                   TL                    CRISIL B+    73.8    Assigned
My Car (Pune) Pvt Ltd                   Proposed LT Bk Loan   CRISIL B+    36.2    Assigned
                                        Fac
My Car (Pune) Pvt Ltd                   Inventory Funding Fac CRISIL B+    160     Assigned
My Car (Pune) Pvt Ltd                   CC                    CRISIL B+    60      Assigned
NKCM Spinners Pvt Ltd                   CC                    CRISIL BB-   150     Upgraded
                                                                                   from CRISIL
                                                                                   B+
NKCM Spinners Pvt Ltd                   LT Loan               CRISIL BB-   30      Upgraded
                                                                                   from CRISIL
                                                                                   B+
North Bengal Oncology Centre Pvt Ltd    TL                    CRISIL D     80      Assigned
North Bengal Oncology Centre Pvt Ltd    Overdraft Fac         CRISIL D     0.8     Assigned
North Bengal Oncology Centre Pvt Ltd    Proposed LT Bk Loan   CRISIL D     9.2     Assigned
                                        Fac
Nucon Power Controls Pvt Ltd            CC                    CRISIL A-    50      Reaffirmed
Nucon Power Controls Pvt Ltd            LOC**                 CRISIL A-    25      Reaffirmed
** Changeable one way to cash credit limit from letter of credit up to Rs.25 million
Nucon Power Controls Pvt Ltd            Proposed LT Bk Loan   CRISIL A-    300     Reaffirmed
                                        Fac
Nucon Switchgears Pvt Ltd               CC**                  CRISIL A-    220     Reaffirmed
** Includes a sublimit for export packing credit of Rs.70 million
Nucon Switchgears Pvt Ltd               LOC#                  CRISIL A-    100     Reaffirmed
# Changeable one way to cash credit limit from letter of credit up Rs.100 million
Nucon Switchgears Pvt Ltd               Proposed LT Bk Loan   CRISIL A-    370     Reaffirmed
                                        Fac
Rangali Agro India Pvt Ltd              CC                    CRISIL B     70      Assigned
Rangali Agro India Pvt Ltd              TL                    CRISIL B     200     Assigned
Sai Life Sciences Ltd                   Standby Line of CreditCRISIL BBB+  90      Assigned
Sai Life Sciences Ltd                   LT Loan               CRISIL BBB+  550     Assigned
Sai Life Sciences Ltd                   CC                    CRISIL BBB+  440     Assigned
Saj Food Products Pvt Ltd               CC                    CRISIL BBB   100     Suspended
Saj Food Products Pvt Ltd               Proposed LT Bk Loan   CRISIL BBB   45.4    Suspended
                                        Fac
Saj Food Products Pvt Ltd               Rupee TL              CRISIL BBB   93.7    Suspended
Samsung Overseas Ltd                    Export Packing Credit CRISIL BBB-  100     Reaffirmed
Samsung Overseas Ltd                    Proposed LT Bk Loan   CRISIL BBB-  12.5    Reaffirmed
                                        Fac
SAR Ispat Pvt Ltd                       CC                    CRISIL B+    100     Assigned
Shri Bijasani Cotton Fiber              CC                    CRISIL B-    70      Assigned
Shri Bijasani Cotton Fiber              TL                    CRISIL B-    20      Assigned
Siddhi Industries                       CC                    CRISIL B     30      Upgraded
                                                                                   from CRISIL
                                                                                   B-
Siddhi Industries                       Proposed LT Bk Loan   CRISIL B     25      Upgraded
                                        Fac                                        from CRISIL
                                                                                   B-
Siddhi Industries                       Rupee TL              CRISIL B     4.2     Upgraded
                                                                                   from CRISIL
                                                                                   B-
Sree Ayyanar Spinning and Weaving Mills CC                    CRISIL BB    119     Reaffirmed
Limite
Sree Ayyanar Spinning and Weaving Mills Proposed LT Bk Loan   CRISIL BB    32.6    Reaffirmed
Limite                                  Fac
Sree Ayyanar Spinning and Weaving Mills TL                    CRISIL BB    163.3   Reaffirmed
Limite
Sree Ayyanar Spinning and Weaving Mills WC Demand Loan        CRISIL BB    151     Reaffirmed
Limite
Sree Rani Sati Overseas Pvt Ltd         CC^                   CRISIL B     40      Reaffirmed
^Include sublimit of Working Capital Demand Loan/Export Packing Credit, Foreign Bill 
Purchase of Rs.40 mn and letter of credit facility of Rs.20 mn
Sterling Estates and Properties Ltd     CC                    CRISIL D     100     Downgraded
                                                                                   from CRISIL
                                                                                   C
Sterling Estates and Properties Ltd     Proposed LT Bk Loan   CRISIL D     2.4     Downgraded
                                        Fac                                        from CRISIL
                                                                                   C
Swarna Industries Ltd                   CC                    CRISIL BB    250     Reaffirmed
Swarna Industries Ltd                   TL                    CRISIL BB    18.4    Reaffirmed
Talwar Auto Garages Pvt Ltd             Channel Financing     CRISIL B     75      Downgraded
                                                                                   from CRISIL
                                                                                   BB+
Thirupathy Bright Industries            Proposed TL           CRISIL BB-   25      Assigned
Thirupathy Bright Industries            CC                    CRISIL BB-   50      Assigned
Thirupathy Bright Industries            Proposed CC Limit     CRISIL BB-   30      Assigned
Thota Coldcel Pvt Limite                TL                    CRISIL B     45      Assigned
Thota Coldcel Pvt Limite                Proposed LT           CRISIL B     2.5     Assigned
Thota Coldcel Pvt Limite                CC                    CRISIL B     30      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)
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