CRISIL ratings for Indian debt instruments-Mar 13

Wed Mar 13, 2013 10:54am IST

Mar 13 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 12, 2013.


COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Auto Profiles Ltd                       BG                    CRISIL A4+   8       Reaffirmed
BMW Ventures Ltd                        BG                    CRISIL A3    10      Reaffirmed
CCI Logistics Limtied                   BG                    CRISIL A3+   50      Assigned
Devi Enterprises Ltd                    BG                    CRISIL A4+   489.4   Suspended
Dhara Petrochemicals Pvt Ltd            LOC                   CRISIL A4+   65      Reaffirmed
Diageo India Pvt Ltd                    CP                    CRISIL A1+   750     Reaffirmed
Diamondstar                             Packing Credit        CRISIL A4    80.1    Reaffirmed
Diamondstar                             Post Shipment Credit  CRISIL A4    120.3   Reaffirmed
Diamondstar                             Proposed ST Bk Loan   CRISIL A4    119.6   Reaffirmed
                                        Fac
Jagdale Industries Ltd                  LOC & BG              CRISIL A4+   100     Reaffirmed
Kazstroy Service Infrastructure         BG                    CRISIL A3    450     Upgraded from
India Pvt. Ltd.                                                                    CRISIL A4+
LPF Systems Pvt Ltd                     BG                    CRISIL A4+   15      Assigned
Manjushree Technopack Ltd               BG                    CRISIL A2+   30      Reaffirmed
Manjushree Technopack Ltd               LOC                   CRISIL A2+   300     Reaffirmed
Maveric Systems Ltd                     BG                    CRISIL A4+   45      Reaffirmed
Mentha and Allied Products Ltd          BG                    CRISIL A3    2       Reaffirmed
Mentha and Allied Products Ltd          Export Packing        CRISIL A3    340     Reaffirmed
                                        Credit
Mentha and Allied Products Ltd          LOC                   CRISIL A3    54      Reaffirmed
Metalman Auto Pvt Ltd                   Packing Credit        CRISIL A3+   40      Reaffirmed
Metalman Auto Pvt Ltd                   LOC and BG            CRISIL A3+   20      Reaffirmed
Mrs.Bectors Food Specialities Ltd       Bill Discounting      CRISIL A2+   150     Reaffirmed
Mrs.Bectors Food Specialities Ltd       LOC & BG              CRISIL A2+   247.5   Reaffirmed
Patnaik Steels and Alloys Ltd.          BG                    CRISIL A4    27.5    Upgraded from
                                                                                   CRISIL D
Oriental Bank of Commerce               CD                    CRISIL A1+   300000  Reaffirmed
Parmarth Iron Pvt Ltd                   BG                    CRISIL A4    2       Suspended
Parmarth Iron Pvt Ltd                   LOC                   CRISIL A4    18      Suspended
Petron Civil Engineering Pvt Ltd        BG                    CRISIL A3    3050    Downgraded
                                                                                   from CRISIL
                                                                                   A3+
Petron Civil Engineering Pvt Ltd        LOC                   CRISIL A3    550     Downgraded
                                                                                   from CRISIL
                                                                                   A3+
Prashant Enterprises                    Bill Discounting      CRISIL A4    250     Suspended
Prashant Enterprises                    LOC                   CRISIL A4    100     Suspended
Prashant Enterprises                    Packing Credit        CRISIL A4    250     Suspended
Prashant Enterprises                    Proposed ST Bk Loan   CRISIL A4    30      Suspended
                                        Fac
Rajdeep Buildcon Pvt Ltd                BG                    CRISIL A3+   2160    Reaffirmed
Ramesh Meghji Sorathiya                 BG                    CRISIL A4    150     Downgraded
                                                                                   from CRISIL
                                                                                   A4+
RPM Engineers (India) Ltd               LOC                   CRISIL A4    3       Assigned
RPM Engineers (India) Ltd               BG                    CRISIL A4    30      Assigned
Shri Ramchander Straw Products Ltd      BG                    CRISIL A4+   1       Suspended
Shri Ramchander Straw Products Ltd      LOC                   CRISIL A4+   5       Suspended
Simpolo Vitrified Pvt Ltd               LOC                   CRISIL A3+   107.5   Reaffirmed
Simpolo Vitrified Pvt Ltd               BG                    CRISIL A3+   80      Assigned
Sri Chandra Moulishvar Spinning         BG                    CRISIL A4    0.9     Reaffirmed
Mills Pvt Ltd
Sri Vakirakaaliamman Spinning           Letter Of Guarantee   CRISIL A4    6.5     Reaffirmed
Mills Pvt Ltd
Surface Graphics Pvt Ltd                BG                    CRISIL A4+   2       Reaffirmed
The Supreme Industries Ltd              STD                   CRISIL A1+   1250    Reaffirmed
The Supreme Industries Ltd              LOC & BG              CRISIL A1+   5633    Reaffirmed
Trans Valves (India) Pvt Ltd            BG                    CRISIL A4+   6.5     Reaffirmed
Trans Valves (India) Pvt Ltd            Foreign Bill          CRISIL A4+   1       Reaffirmed
                                        Discounting
Trans Valves (India) Pvt Ltd            LOC                   CRISIL A4+   20      Reaffirmed
Treadstone Ltd                          BG                    CRISIL A4    4       Suspended
Treadstone Ltd                          Foreign Bill          CRISIL A4    30      Suspended
                                        Purchase **
**Fungeability of Rs.20.0 Million with packing credit
Treadstone Ltd                          LOC ***               CRISIL A4    5       Suspended
***Fungeability of Rs.2.0 Million with bank guarantee
Treadstone Ltd                          Pre Shipment          CRISIL A4    30      Suspended
                                        Packing Credit *
*Fungeability of Rs.20.0 Million with foreign bills purchased
United Marine Academy Trust             Elementary First      Grade 3              Assigned
                                        Aid
United Marine Academy Trust             Personal Survival     Grade 3              Assigned
                                        Techniques
United Marine Academy Trust             Personal Safety and   Grade 3              Assigned
                                        Social
                                        Responsibilities
Vetindia Pharmaceuticals Ltd            LOC                   CRISIL A4+   5       Reaffirmed
Vetindia Pharmaceuticals Ltd            BG                    CRISIL A4+   2       Reaffirmed
VRC Constructions India Pvt Ltd         BG                    CRISIL A3+   1480    Reaffirmed
VXL Instruments Ltd                     LOC                   CRISIL A4    150#    Reaffirmed
#contains a sublimit of Rs.25 Million for Bank Guarantee

Yasin Impex India Pvt Ltd               LOC                   CRISIL A4    200*    Assigned
*Includes a sub limit of Buyers credit to the extent of Rs.200 million

MEDIUM TERM RATINGS:
-------------------
Oriental Bank of Commerce               FD                    FAAA                 Reaffirmed

LONG TERM RATINGS:
-------------------
Adi Wires Pvt Ltd                       CC                    CRISIL D     23.5    Reaffirmed
Adi Wires Pvt Ltd                       TL                    CRISIL D     31.8    Reaffirmed
Auto Profiles Ltd                       CC*                   CRISIL BB+   150     Reaffirmed
*Interchangeable with purchase bill discounting to the extent of 128.0 Million
Auto Profiles Ltd                       CC                    CRISIL BB+   90      Reaffirmed
Auto Profiles Ltd                       TL                    CRISIL BB+   362     Assigned
Binod Car World Pvt Ltd                 CC                    CRISIL B+    55      Reaffirmed
Binod Car World Pvt Ltd                 Proposed LT Bk Loan   CRISIL B+    19.5    Reaffirmed
                                        Fac
BMW Ventures Ltd                        CC                    CRISIL BBB-  265     Reaffirmed
BMW Ventures Ltd                        Proposed LT Bk Loan   CRISIL BBB-  1.6     Reaffirmed
                                        Fac
BMW Ventures Ltd                        TL                    CRISIL BBB-  23.4    Assigned
BNP Paribas Mutual Fund                 BNP Paribas Money     CRISIL AAAmfs        Reaffirmed
                                        Plus Fund
BNP Paribas Mutual Fund                 BNP Paribas           CRISIL AAAmfs        Reaffirmed
                                        Overnight Fund
CCI Logistics Limtied                   CC                    CRISIL BBB   200*    Assigned
*Includes sublimit of Rs. 200 Millions for bill discounting
Devi Enterprises Ltd                    CC                    CRISIL BB    60      Suspended
Devi Enterprises Ltd                    Proposed LT Bk Loan   CRISIL BB    5.3     Suspended
                                        Fac
Dhara Petrochemicals Pvt Ltd            CC                    CRISIL BB-   50      Reaffirmed
Diageo India Pvt Ltd                    CC*                   CRISIL AA-   3450    Reaffirmed
*Interchangeable with overdraft limit and working capital demand loans
Diageo India Pvt Ltd                    Proposed LT Bk Loan   CRISIL AA-   50      Reaffirmed
                                        Fac
Eastern Silk Industries Ltd             Funded Interest TL    CRISIL D     545.7   Reaffirmed
Eastern Silk Industries Ltd             Proposed LT Bk Loan   CRISIL D     45      Reaffirmed
                                        Fac
Eastern Silk Industries Ltd             TL                    CRISIL D     535.7   Reaffirmed
Eastern Silk Industries Ltd             WC Fac                CRISIL D     628.7   Reaffirmed
Eastern Silk Industries Ltd             WC TL                 CRISIL D     2959.9  Assigned
G. J. Agro Industries                   Proposed TL           CRISIL B-    21      Assigned
G. J. Agro Industries                   CC                    CRISIL B-    45      Assigned
G. J. Agro Industries                   Proposed CC Limit     CRISIL B-    34      Assigned
Genius Educational Society              Rupee TL              CRISIL D     81      Suspended
Iraki Trading Company                   LOC                   BG           75      Reaffirmed
Iraki Trading Company                   CC                    CRISIL BB    40      Reaffirmed
Jagdale Industries Ltd                  LT Loan               CRISIL BB+   10      Reaffirmed
Jagdale Industries Ltd                  CC                    CRISIL BB+   330     Reaffirmed
Kazstroy Service Infrastructure         CC                    CRISIL BBB-  130     Upgraded from
India Pvt. Ltd.                                                                    CRISIL BB
Kazstroy Service Infrastructure         Rupee TL              CRISIL BBB-  135.5   Upgraded from
India Pvt. Ltd.                                                                    CRISIL BB
LPF Systems Pvt Ltd                     CC                    CRISIL BB    70      Assigned
Manjushree Technopack Ltd               CC                    CRISIL A-    800     Reaffirmed
Manjushree Technopack Ltd               LT Loan               CRISIL A-    1595.6  Reaffirmed
Manjushree Technopack Ltd               Proposed LT Bk Loan   CRISIL A-    24.4    Assigned
                                        Fac
Maveric Systems Ltd                     Rupee TL              CRISIL BB+   10      Reaffirmed
Maveric Systems Ltd                     CC                    CRISIL BB+   85      Reaffirmed
Maveric Systems Ltd                     Line of Credit        CRISIL BB+   5       Reaffirmed
Maveric Systems Ltd                     Proposed LT Bk Loan   CRISIL BB+   39.5    Reaffirmed
                                        Fac
Mentha and Allied Products Ltd          CC                    CRISIL BBB-  140     Reaffirmed
Metalman Auto Pvt Ltd                   TL                    CRISIL BBB   325     Reaffirmed
Metalman Auto Pvt Ltd                   CC                    CRISIL BBB   100     Reaffirmed
Mrs.Bectors Food Specialities Ltd       CC                    CRISIL A-    530     Reaffirmed
Mrs.Bectors Food Specialities Ltd       Corporate Loan        CRISIL A-    75      Reaffirmed
Mrs.Bectors Food Specialities Ltd       Standby Line of       CRISIL A-    30      Reaffirmed
                                        Credit
Mrs.Bectors Food Specialities Ltd       TL                    CRISIL A-    667.5   Reaffirmed
Patnaik Steels and Alloys Ltd.          CC                    CRISIL C     300     Upgraded from
                                                                                   CRISIL D
Patnaik Steels and Alloys Ltd.          Proposed LT Bk Loan   CRISIL C     33.1    Upgraded from
                                        Fac                                        CRISIL D
Patnaik Steels and Alloys Ltd.          TL                    CRISIL C     1026.9  Upgraded from
                                                                                   CRISIL D
Paradise Properties                     Rupee TL              CRISIL BB-   164     Suspended
Parksons Cartamundi Pvt Ltd             TL                    CRISIL BB+   171.3   Reaffirmed
Parksons Cartamundi Pvt Ltd             CC                    CRISIL BB+   100     Reaffirmed
Parksons Cartamundi Pvt Ltd             Proposed LT Bk Loan   CRISIL BB+   28.7    Reaffirmed
                                        Fac
Parmarth Iron Pvt Ltd                   CC                    CRISIL B-    65      Suspended
Parmarth Iron Pvt Ltd                   LT Loan               CRISIL B-    5       Suspended
Parmarth Iron Pvt Ltd                   Proposed LT Bk Loan   CRISIL B-    60      Suspended
                                        Fac
Petron Civil Engineering Pvt Ltd        CC                    CRISIL BBB-  400     Downgraded
                                                                                   from CRISIL
                                                                                   BBB
Rajdeep Buildcon Pvt Ltd                CC                    CRISIL BBB   560     Reaffirmed
Ramesh Meghji Sorathiya                 Overdraft Fac         CRISIL B+    35      Downgraded
                                                                                   from CRISIL
                                                                                   BB-
Ramesh Meghji Sorathiya                 Rupee TL              CRISIL B+    115     Downgraded
                                                                                   from CRISIL
                                                                                   BB-
RPM Engineers (India) Ltd               TL                    CRISIL B+    15.9    Assigned
RPM Engineers (India) Ltd               Standby Line of       CRISIL B+    5       Assigned
                                        Credit
RPM Engineers (India) Ltd               Proposed LT Bk Loan   CRISIL B+    21.1    Assigned
                                        Fac
RPM Engineers (India) Ltd               CC                    CRISIL B+    15      Assigned
S. S. Impex                             Export Packing        CRISIL D     40      Downgraded
                                        Credit                                     from CRISIL B
S. S. Impex                             TL                    CRISIL D     10      Downgraded
                                                                                   from CRISIL
                                                                                   A4
Shakumbhri Straw Products Ltd           BG                    CRISIL D     65      Suspended
Shakumbhri Straw Products Ltd           CC                    CRISIL D     570     Suspended
Shakumbhri Straw Products Ltd           LOC                   CRISIL D     150     Suspended
Shakumbhri Straw Products Ltd           Proposed LT Bk Loan   CRISIL D     25      Suspended
                                        Fac
Shakumbhri Straw Products Ltd           TL                    CRISIL D     231.4   Suspended
Shree Ganesh Fats Pvt Ltd               CC*                   CRISIL A-    290     Reaffirmed
*Fully interchangeable with letter of credit
Shri Ramchander Straw Products Ltd      CC                    CRISIL BB    80      Suspended
Shri Ramchander Straw Products Ltd      Proposed LT Bk Loan   CRISIL BB    8       Suspended
                                        Fac
Shri Ramchander Straw Products Ltd      TL                    CRISIL BB    52.7    Suspended
Simpolo Vitrified Pvt Ltd               CC                    CRISIL BBB   300     Reaffirmed
Simpolo Vitrified Pvt Ltd               TL                    CRISIL BBB   158.9   Reaffirmed
Sodhi Brothers Hydro Power Pvt Ltd      LOC                   CRISIL D     58      Suspended
Sodhi Brothers Hydro Power Pvt Ltd      Proposed LT Bk Loan   CRISIL D     62      Suspended
                                        Fac
Sodhi Brothers Hydro Power Pvt Ltd      Rupee TL              CRISIL D     175     Suspended
Sri Chandra Moulishvar Spinning         CC                    CRISIL B     60      Reaffirmed
Mills Pvt Ltd
Sri Chandra Moulishvar Spinning         LT Loan               CRISIL B     77.5    Reaffirmed
Mills Pvt Ltd
Sri Vakirakaaliamman Spinning           CC                    CRISIL B+    300     Reaffirmed
Mills Pvt Ltd
Sri Vakirakaaliamman Spinning           Proposed LT Bk Loan   CRISIL B+    19.5    Reaffirmed
Mills Pvt Ltd                           Fac
Sri Vakirakaaliamman Spinning           TL                    CRISIL B+    89      Reaffirmed
Mills Pvt Ltd
Sumit Exports                           Post Shipment Credit  CRISIL BB    127     Reaffirmed
Sumit Exports                           Pre Shipment Credit   CRISIL BB    53      Reaffirmed
Surface Graphics Pvt Ltd                CC                    CRISIL BB-   35      Reaffirmed
Surface Graphics Pvt Ltd                Proposed LT Bk Loan   CRISIL BB-   7       Reaffirmed
                                        Fac
Surface Graphics Pvt Ltd                TL                    CRISIL BB-   77.1    Reaffirmed
Surface Graphics Pvt Ltd                WC TL                 CRISIL BB-   38.9    Reaffirmed
SVS Marine Services Pvt Ltd             CC                    CRISIL BB-   100     Reaffirmed
SVS Marine Services Pvt Ltd             TL                    CRISIL BB-   404.2   Reaffirmed
T C Terrytex Ltd                        BG                    CRISIL D     10      Suspended
T C Terrytex Ltd                        CC                    CRISIL D     450     Suspended
T C Terrytex Ltd                        Inland/Import LOC*    CRISIL D     130     Suspended
*Fully Interchangeable with Foreign letter of credit
T C Terrytex Ltd                        Proposed LT Bk Loan   CRISIL D     30.1    Suspended
                                        Fac
T C Terrytex Ltd                        TL                    CRISIL D     579.9   Suspended
The Supreme Industries Ltd              CC                    CRISIL AA-   2500    Reaffirmed
The Supreme Industries Ltd              LT Bk Fac             CRISIL AA-   800     Reaffirmed
The Supreme Industries Ltd              Overdraft Fac         CRISIL AA-   300     Assigned
Trans Valves (India) Pvt Ltd            CC                    CRISIL BB    32.5    Reaffirmed
Trans Valves (India) Pvt Ltd            LT Loan               CRISIL BB    13      Reaffirmed
Trans Valves (India) Pvt Ltd            Proposed LT Bk Loan   CRISIL BB    10      Reaffirmed
                                        Fac
Trans Valves (India) Pvt Ltd            SME Care Loan         CRISIL BB    2.1     Reaffirmed
Treadstone Ltd                          Proposed LT Bk Loan   CRISIL B     121     Suspended
                                        Fac
Vetindia Pharmaceuticals Ltd            CC*                   CRISIL BB+   60      Upgraded from
                                                                                   CRISIL BB
*Export packing credit sub limit of Rs.20.0 million
Vetindia Pharmaceuticals Ltd            Standby Line of       CRISIL BB+   3       Upgraded from
                                        Credit                                     CRISIL BB
Vetindia Pharmaceuticals Ltd            TL                    CRISIL BB+   22      Upgraded from
                                                                                   CRISIL BB
Vetindia Pharmaceuticals Ltd            Proposed LT Bk loan   CRISIL BB+   1.3     Upgraded from
                                        Fac                                        CRISIL BB
Vishal Ferro Alloys Ltd                 CC                    CRISIL B-    30      Reaffirmed
Vishal Ferro Alloys Ltd                 Proposed LT Bk Loan   CRISIL B-    20      Reaffirmed
                                        Fac
Vishal Ferro Alloys Ltd                 Rupee TL              CRISIL B-    55      Reaffirmed
VRC Constructions India Pvt Ltd         CC                    CRISIL BBB   300     Reaffirmed
VRC Constructions India Pvt Ltd         Overdraft Fac         CRISIL BBB   100     Reaffirmed
VRC Constructions India Pvt Ltd         TL                    CRISIL BBB   50      Reaffirmed
VRC Constructions India Pvt Ltd         WC Demand Loan        CRISIL BBB   150     Reaffirmed
VXL Instruments Ltd                     CC                    CRISIL B-    90*     Downgraded
                                                                                   from CRISIL B
* 100% interchangeability between Export Packing Credit
VXL Instruments Ltd                     Proposed LT Bk Loan   CRISIL B-    18      Downgraded
                                        Fac                                        from CRISIL B
Wahi Sons Pvt Ltd                       CC                    CRISIL BB    25      Reaffirmed
Wahi Sons Pvt Ltd                       LT Loan               CRISIL BB    40      Reaffirmed
West Face Hospitality & Management      LT Loan               CRISIL D     250     Reaffirmed
Pvt Ltd
Yasin Impex India Pvt Ltd               CC                    CRISIL B-    25      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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