CRISIL ratings for Indian debt instruments-Jan 30

Wed Jan 30, 2013 2:14pm IST

Jan 30 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 29, 2013.


COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Adarsh Guar Gum Udyog                   Bill Purchase         CRISIL A4+   75      Assigned
Adarsh Guar Gum Udyog                   Packing Credit        CRISIL A4+   75      Assigned
Ahlada Engineers Pvt Ltd                SME Credit            CRISIL A4    5       Assigned
Ahlada Engineers Pvt Ltd                LOC                   CRISIL A4    20      Assigned
Ahlada Engineers Pvt Ltd                BG                    CRISIL A4    7.5     Assigned
Amartex Industries Ltd                  LOC                   CRISIL A4+   150     Reaffirmed
Asian Granito India Ltd                 LOC                   CRISIL A2    250     Assigned
Asian Granito India Ltd                 BG                    CRISIL A2    150     Assigned
BLR Logistiks (I) Ltd                   BG                    CRISIL A3+   130     Assigned
Brady & Morris Engineering Company      BG                    CRISIL A4+   65      Suspended
Ltd
Brady & Morris Engineering Company      LOC                   CRISIL A4+   40      Suspended
Ltd
Choksey Chemicals Pvt Ltd               BG                    CRISIL A4    20      Downgraded
                                                                                   from 
                                                                                   CRISIL A4+
Choksey Chemicals Pvt Ltd               LOC                   CRISIL A4    35      Downgraded
                                                                                   from 
                                                                                   CRISIL A4+
Deekay Electricals                      Channel Financing     CRISIL A4+   120     Assigned
East End Silks Pvt Ltd                  BG                    CRISIL A3    15      Reaffirmed
East End Silks Pvt Ltd                  Packing Credit        CRISIL A3    25      Reaffirmed
East End Silks Pvt Ltd                  Foreign Bill          CRISIL A3    20      Reaffirmed
                                        Discounting
East End Silks Pvt Ltd                  LOC                   CRISIL A3    30      Reaffirmed
Excellent Moulders                      LOC                   CRISIL A4+   95      Assigned
Fishfa Glass Centre                     LOC                   CRISIL A4    30      Reaffirmed
G. K. E. Medical Pvt Ltd                BG                    CRISIL A4+   1.7     Reaffirmed
G. K. E. Medical Pvt Ltd                Standby Line of       CRISIL A4+   7.3     Reaffirmed
                                        Credit
Ganesh Ram Dokania                      BG                    CRISIL A4+   100     Suspended
Gems Automobiles Pvt Ltd                BG                    CRISIL A4+   13.5    Assigned
Green Valley's Shelters Pvt Ltd         ST Loan               CRISIL A4+   85      Assigned
Green Valley's Shelters Pvt Ltd         BG                    CRISIL A4+   40      Assigned
GRM Overseas Ltd                        Export Packing        CRISIL A4+   650     Reaffirmed
                                        Credit
GRM Overseas Ltd                        Proposed ST Bk Fac    CRISIL A4+   120     Reaffirmed
Hemkunt Coated Paper Pvt Ltd            Foreign LOC           CRISIL A4    5       Assigned
Hemkunt Paper Mills Ltd                 Foreign LOC           CRISIL A4    5       Assigned
J.M. Financial & Investment             ST Debt               CRISIL A1+   1000    Reaffirmed
Consultancy Services Pvt Ltd
Jalaram Ceramics Ltd                    LOC                   CRISIL A4+   57.8    Suspended
JM Financial group companies            BG                    CRISIL A1+   1350    Reaffirmed
JM Financial group companies            Proposed ST Bk        CRISIL A1+   3590    Reaffirmed
                                        Loan Fac
JM Financial Institutional              BG                    CRISIL A1+   1350    Assigned
Securities Pvt Ltd
JM Financial Institutional              Proposed ST Bk        CRISIL A1+   3590    Assigned
Securities Pvt Ltd                      Loan Fac
JM Financial Institutional              ST Debt Programme     CRISIL A1+   10000   Assigned
Securities Pvt Ltd
JM Financial Products Ltd               ST Debt Programme     CRISIL A1+   35000   Assigned
JM Financial Products Ltd               ST Debt Issue1        CRISIL A1+   31000   Withdrawn
1 Assigned for initial public offering financing on episodic basis
JM Financial Services Pvt Ltd           ST Debt Programme     CRISIL A1+   11000   Assigned
K Patel Metal Industries Pvt Ltd        LOC                   CRISIL A4+   10*     Assigned
* Fully inter-changeable with Bank Guarantee
K Patel Phyto Extractions Pvt Ltd       BG                    CRISIL A4    1.5     Assigned
K.K.Tanners                             Bill Purchase*        CRISIL A4    20      Suspended
*Includes sub-limit of Rs.1.5 Million for cheque purchase
Kochar Sung Up Acrylic Ltd              Export Packing        CRISIL A3    10      Assigned
                                        Credit
Kochar Sung Up Acrylic Ltd              LOC                   CRISIL A3    50      Assigned
Koya & Company Construction Ltd         BG                    CRISIL A4+   150     Reaffirmed
Koya & Company Construction Ltd         LOC*                  CRISIL A4+   900     Reaffirmed
Laser Cables Pvt Ltd                    BG                    CRISIL A3+   100     Reaffirmed
Laser Cables Pvt Ltd                    Bill Discounting      CRISIL A3+   160     Reaffirmed
Laser Cables Pvt Ltd                    LOC                   CRISIL A3+   187     Reaffirmed
Maharaja Whiteline Industries Pvt       LOC                   CRISIL A4+   200     Assigned
Ltd
Maxgrow Trade Solutions Pvt Ltd         LOC                   CRISIL A4+   100     Assigned
Maxgrow Trade Solutions Pvt Ltd         BG                    CRISIL A4+   5       Assigned
Meera Cotton and Synthetic Mills        Packing Credit        CRISIL A4+   30      Reaffirmed
Pvt Ltd
Meera Cotton and Synthetic Mills        BG                    CRISIL A4+   5.5     Reaffirmed
Pvt Ltd
Melt-O-Therm Furnaces Pvt Ltd           Proposed BG           CRISIL A4    1.9     Assigned
Reliable Sponge Pvt Ltd                 BG                    CRISIL A3    30      Reaffirmed
Shamshree International Pvt Ltd         LOC                   CRISIL A4    100     Assigned
Shamshree Lifesciences Ltd              LOC                   CRISIL A4    20      Assigned
Sparklet Engineers Pvt Ltd              BG                    CRISIL A4+   50@     Reaffirmed
@Interchangeability from Letter of Credit to Bank Guarantee to the extent of Rs. 10.00 million
Sparklet Engineers Pvt Ltd              LOC                   CRISIL A4+   20*     Reaffirmed

*Interchangeability from Letter of Credit to Bank Guarantee to the extent of Rs. 10.00 million
Sumer Sons Pvt Ltd                      BG                    CRISIL A4    30      Reaffirmed
Varun Beverages Ltd                     LOC*                  CRISIL A1    1400    Reaffirmed
*Rs500 million letter of credit for three years towards capex
Varun Beverages Ltd                     ST Loan               CRISIL A1    1200    Reaffirmed
Varun Beverages Ltd                     LOC*                  CRISIL A1    1400    Reaffirmed
*Rs500 million letter of credit for three years towards capex
Varun Beverages Ltd                     ST Loan               CRISIL A1    1200    Reaffirmed
Varun Beverages Ltd                     CP                    CRISIL A1    1000    Reaffirmed
Veejay Lakshmi Engineering Works Ltd    Letter of Credit &    CRISIL A3    200     Downgraded
                                        BG                                         from
                                                                                   CRISIL A3+
Veejay Lakshmi Textiles Ltd             BG                    CRISIL A4+   10      Reaffirmed
Veejay Lakshmi Textiles Ltd             LOC                   CRISIL A4+   40      Reaffirmed
W. H. Brady & Co. Ltd                   BG                    CRISIL A4+   15      Suspended
W. H. Brady & Co. Ltd                   LOC                   CRISIL A4+   5       Suspended

LONG TERM RATINGS:
-------------------
Ahlada Engineers Pvt Ltd                TL                    CRISIL B     45      Assigned
Ahlada Engineers Pvt Ltd                Proposed CC Limit     CRISIL B     20      Assigned
Ahlada Engineers Pvt Ltd                CC                    CRISIL B     70      Assigned
Amartex Industries Ltd                  CC                    CRISIL BB    650     Reaffirmed
Amartex Industries Ltd                  Overdraft Fac         CRISIL BB    100     Reaffirmed
Amartex Industries Ltd                  TL                    CRISIL BB    100     Reaffirmed
Asian Granito India Ltd                 TL                    CRISIL BBB+  763.5   Assigned
Asian Granito India Ltd                 CC*                   CRISIL BBB+  1480    Assigned
* Includes a sublimit of Rs.100.0 million for Rs.1380.0 million of cash credit and a sublimit of
Rs.50.0 million for Rs.100.0 million of cash credit
Asian Granito India Ltd                 Proposed LT Bk        CRISIL BBB+  656.5   Assigned
                                        Loan Fac
BLR Logistiks (I) Ltd                   CC**                  CRISIL BBB   180     Assigned
**Includes sub-limit of bank guarantee of Rs.20 million
BLR Logistiks (I) Ltd                   CC**                  CRISIL BBB   150     Assigned
**Includes sub-limit of bank guarantee of Rs.20 million
BLR Logistiks (I) Ltd                   CC                    CRISIL BBB   275     Assigned
BLR Logistiks (I) Ltd                   TL                    CRISIL BBB   80      Assigned
BLR Logistiks (I) Ltd                   Proposed LT Bk        CRISIL BBB   30      Assigned
                                        Loan Fac
Brady & Morris Engineering Company      CC                    CRISIL BB+   144     Suspended
Ltd
Brady & Morris Engineering Company      LT Loan               CRISIL BB+   46.6    Suspended
Ltd
Choksey Chemicals Pvt Ltd               CC                    CRISIL B+    72.5    Downgraded
                                                                                   from
                                                                                   CRISIL BB-
Ecopark Developers LLP                  CC                    CRISIL BB-   210     Reaffirmed
Ecopark Developers LLP                  CC                    CRISIL BB-   210     Reaffirmed
Excellent Moulders                      CC                    CRISIL BB-   60      Assigned
Fastway Transmissions Pvt Ltd           CC                    CRISIL BBB-  77.5    Assigned
Fastway Transmissions Pvt Ltd           TL                    CRISIL BBB-  220     Assigned
Fishfa Glass Centre                     CC                    CRISIL B+    30      Reaffirmed
Fishfa Glass Centre                     Proposed LT Bk        CRISIL B+    20      Reaffirmed
                                        Loan Fac
Food Pharma India Pvt Ltd               CC                    CRISIL B     50      Assigned
Food Pharma India Pvt Ltd               Proposed LT Bk        CRISIL B     20      Assigned
                                        Loan Fac
G. K. E. Medical Pvt Ltd                CC                    CRISIL BB-   60      Reaffirmed
Ganesh Ram Dokania                      CC                    CRISIL BB+   150     Suspended
Gems Automobiles Pvt Ltd                TL                    CRISIL BB-   60      Assigned
Gems Automobiles Pvt Ltd                Proposed LT Bk        CRISIL BB-   16.5    Assigned
                                        Loan Fac
Gems Automobiles Pvt Ltd                Inventory Funding     CRISIL BB-   50      Assigned
                                        Fac
Gems Automobiles Pvt Ltd                CC                    CRISIL BB-   50      Assigned
Goyal Knitwears Pvt Ltd                 Bill Purchase         CRISIL D     30      Reaffirmed
Goyal Knitwears Pvt Ltd                 CC                    CRISIL D     122.5   Reaffirmed
Goyal Knitwears Pvt Ltd                 TL                    CRISIL D     52.5    Reaffirmed
Green Valley's Shelters Pvt Ltd         Overdraft Fac         CRISIL BB+   100     Assigned
Green Valley's Shelters Pvt Ltd         LT Loan               CRISIL BB+   65      Assigned
GRM Overseas Ltd                        Standby Line of       CRISIL BB-   130     Assigned
                                        Credit
Hayath Foods                            BG                    CRISIL D     15      Suspended
Hayath Foods                            Bill Purchase -       CRISIL D     50      Suspended
                                        Discounting Fac
Hayath Foods                            CC                    CRISIL D     10      Suspended
Hayath Foods                            LOC*                  CRISIL D     45      Suspended
*Includes proposed limit of Rs.20 Million
Hayath Foods                            LT Loan               CRISIL D     51.6    Suspended
Hayath Foods                            Packing Credit        CRISIL D     45      Suspended
Hemkunt Coated Paper Pvt Ltd            CC                    CRISIL B     40      Assigned
Hemkunt Coated Paper Pvt Ltd            TL                    CRISIL B     15      Assigned
Hemkunt Paper Mills Ltd                 TL                    CRISIL B     20      Assigned
Hemkunt Paper Mills Ltd                 CC                    CRISIL B     50      Assigned
ICore Poly Fab Pvt Ltd                  Proposed TL           CRISIL B-    190     Assigned
ICore Poly Fab Pvt Ltd                  Proposed CC Limit     CRISIL B-    54      Assigned
ICore Poly Fab Pvt Ltd                  Proposed LT Bk        CRISIL B-    6       Assigned
                                        Loan Fac
IUA Trust                               TL                    CRISIL B     75      Assigned
Jalaram Ceramics Ltd                    CC                    CRISIL BB    130     Suspended
Jalaram Ceramics Ltd                    Proposed LT Bk        CRISIL BB    15      Suspended
                                        Loan Fac
Jalaram Ceramics Ltd                    Rupee TL              CRISIL BB    159.6   Suspended
Jivraj Tea Ltd                          CC                    CRISIL BBB   50      Reaffirmed
Jivraj Tea Ltd                          TL                    CRISIL BBB   142.3   Reaffirmed
JM Financial Products Ltd               NCD Issue             CRISIL AA-   7000    Assigned
K Patel Metal Industries Pvt Ltd        TL                    CRISIL BB-   11      Assigned
K Patel Metal Industries Pvt Ltd        Proposed LT Bk        CRISIL BB-   9       Assigned
                                        Loan Fac
K Patel Metal Industries Pvt Ltd        CC                    CRISIL BB-   240*    Assigned
* Includes sub-limit of Rs. 30 million of packing credit, sub-limit of Rs. 60 million of letter
of credit and sub-limit of Rs. 60 million of bank guarantees.
K Patel Phyto Extractions Pvt Ltd       Proposed LT Bk        CRISIL B+    8.5     Assigned
                                        Loan Fac
K Patel Phyto Extractions Pvt Ltd       CC^                   CRISIL B+    70      Assigned
^ Fully interchangeable with packing credit and foreign bill discounting
K.K.Tanners                             CC                    CRISIL B-    40      Suspended
Kochar Sung Up Acrylic Ltd              CC*                   CRISIL BBB-  115     Assigned
*Includes one side interchange ability from cash credit to Export Packing Credit of up to Rs.5.0
Million.
Kochar Sung Up Acrylic Ltd              TL                    CRISIL BBB-  65      Assigned
Koya & Company Construction Ltd         CC                    CRISIL BB    170     Reaffirmed
Koya & Company Construction Ltd         Overdraft Fac         CRISIL BB    70      Reaffirmed
Laser Cables Pvt Ltd                    CC                    CRISIL BBB   240     Reaffirmed
M/s. Damodar J. Malpani                 CC                    CRISIL BBB-  730     Reaffirmed
M/s. Damodar J. Malpani                 TL                    CRISIL BBB-  860     Reaffirmed
Maharaja Whiteline Industries Pvt       TL                    CRISIL BB+   100     Assigned
Ltd
Maharaja Whiteline Industries Pvt       CC                    CRISIL BB+   200     Assigned
Ltd
Maxgrow Trade Solutions Pvt Ltd         CC                    CRISIL BB-   60      Assigned
Meera Cotton and Synthetic Mills        LT Loan               CRISIL BB+   214.5   Reaffirmed
Pvt Ltd
Meera Cotton and Synthetic Mills        CC                    CRISIL BB+   218     Reaffirmed
Pvt Ltd
Meera Cotton and Synthetic Mills        Proposed LT Bk        CRISIL BB+   32      Reaffirmed
Pvt Ltd                                 Loan Fac
Melt-O-Therm Furnaces Pvt Ltd           Proposed TL           CRISIL B     43.1    Assigned
Melt-O-Therm Furnaces Pvt Ltd           Proposed CC Limit     CRISIL B     40      Assigned
Mother's Agro Foods Pvt Ltd             CC                    CRISIL B     50      Assigned
Mother's Agro Foods Pvt Ltd             TL                    CRISIL B     32.4    Assigned
N K Media Ventures Pvt. Ltd             CC                    CRISIL D     14      Suspended
N K Media Ventures Pvt. Ltd             TL                    CRISIL D     72.6    Suspended
Paschim Hydro Energy Pvt Ltd            LT Loan               CRISIL B+    207.4   Suspended
Paschim Hydro Energy Pvt Ltd            Proposed LT Bk        CRISIL B+    80.1    Suspended
                                        Loan Fac
Reliable Sponge Pvt Ltd                 CC*                   CRISIL BBB-  635     Reaffirmed
* includes sublimit of Bank Guarantee Rs.45 Million.
Reliable Sponge Pvt Ltd                 TL                    CRISIL BBB-  79.1    Reaffirmed
Shamshree International Pvt Ltd         CC                    CRISIL B+    49      Assigned
Shamshree Lifesciences Ltd              CC                    CRISIL B+    45      Assigned
Shamshree Lifesciences Ltd              TL                    CRISIL B+    92.5    Assigned
Shamshree Lifesciences Ltd              Proposed LT Bk        CRISIL B+    11.8    Assigned
                                        Loan Fac
Shree Datta Shetkari Sahakari           CC                    CRISIL BB+   1420    Upgraded
Sakhar Karkhana Ltd                                                                from 
                                                                                   CRISIL BB
Shree Datta Shetkari Sahakari           TL                    CRISIL BB+   80      Upgraded
Sakhar Karkhana Ltd                                                                from 
                                                                                   CRISIL BB
Siddhi Vinayak Cement Pvt Ltd           Proposed LT Bk        CRISIL A-    6000    Assigned
                                        Loan Fac
Sir Aurthor Cotton Modern Rice Mill     CC                    CRISIL BB-   167.4   Assigned
Sir Aurthor Cotton Modern Rice Mill     TL                    CRISIL BB-   2.6     Assigned
Sparklet Engineers Pvt Ltd              CC                    CRISIL BB    20*     Reaffirmed
* Includes the sublimit for Buyer's Credit of Rs. 20.00 million & fully interchangeable with
Export Packing Credit
Sparklet Engineers Pvt Ltd              Export Packing        CRISIL BB    80*     Reaffirmed
                                        Credit
*Includes the sublimit for Post Shipment in foreign currency of Rs. 80.00 million
Sparklet Engineers Pvt Ltd              Post Shipment         CRISIL BB    10.2^   Reaffirmed
                                        Credit
^ Includes the sublimit for Sight Letter of Credit/Usance Letter of Credit /Buyer's Credit of
Rs. 40.00 million and for Performance Guarantee of Rs. 40.00 million and for Cash Credit of Rs.
15.00 million
Sparklet Engineers Pvt Ltd              TL                    CRISIL BB    6.3     Reaffirmed
Sumer Sons Pvt Ltd                      CC                    CRISIL B+    165     Reaffirmed
Sumer Sons Pvt Ltd                      Proposed LT Bk        CRISIL B+    5       Reaffirmed
                                        Loan Fac
The Saswad Mali Sugar Factory Ltd       TL                    CRISIL B     95.3    Assigned
The Saswad Mali Sugar Factory Ltd       CC                    CRISIL B     970     Assigned
The Saswad Mali Sugar Factory Ltd       CC-Stock              CRISIL B     54.7    Assigned
Uttranchal Ispat Ltd                    CC                    CRISIL D     160     Suspended
Uttranchal Ispat Ltd                    TL                    CRISIL D     26      Suspended
Uttranchal Ispat Ltd                    CC                    CRISIL D     160     Suspended
Uttranchal Ispat Ltd                    TL                    CRISIL D     26      Suspended
Varun Beverages Ltd                     CC                    CRISIL A     2185    Reaffirmed
Varun Beverages Ltd                     TL                    CRISIL A     4348.5  Reaffirmed
Varun Beverages Ltd                     CC                    CRISIL A     2185    Reaffirmed
Varun Beverages Ltd                     TL                    CRISIL A     4348.5  Reaffirmed
Veejay Lakshmi Engineering Works Ltd    CC                    CRISIL BBB-  150     Downgraded
                                                                                   from
                                                                                   CRISIL BBB
Veejay Lakshmi Textiles Ltd             CC*                   CRISIL BB    105     Reaffirmed
*Include sub limit of Rs.35.0 Million. each for Export Packing Credit (EPC) & Foreign Bill
Discounting (FDBN). 50% interchangeability between EPC and FDBN sub limits
Veejay Lakshmi Textiles Ltd             LT Loan               CRISIL BB    140.3   Reaffirmed
W. H. Brady & Co. Ltd                   CC                    CRISIL BB+   23      Suspended
W. H. Brady & Co. Ltd                   LT Loan               CRISIL BB+   37.5    Suspended
W. H. Brady & Co. Ltd                   Proposed LT Bk        CRISIL BB+   15.2    Suspended
                                        Loan Fac
--------------------------------------------------------------------------------------------
$: 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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