CRISIL ratings for Indian debt instruments-Mar 21

Thu Mar 21, 2013 2:27pm IST

Mar 21 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 20, 2013.


COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Babolatt Associates                     BG                    CRISIL A4+   110     Reaffirmed
Beekaylon Synthetics Pvt Ltd            BG                    CRISIL A3+   17.8    Reaffirmed
Clinigene International Ltd             Packing Credit *      CRISIL A1+   100     Reaffirmed
* Interchangeable with buyer's credit
Essar Ferro Alloys Company              BG                    CRISIL A4    5       Reaffirmed
Forever Precious Jewellery and          LOC & BG              CRISIL A1    16500   Reaffirmed
Diamonds Ltd
Forever Precious Jewellery and          Packing Credit        CRISIL A1    1000    Reaffirmed
Diamonds Ltd
Godara Cotton Ginning & Pressing        Inventory Funding     CRISIL A4    91.9    Assigned
Factory                                 Fac
IND Sphinx Precision Ltd                Letter of Comfort     CRISIL A4+   35      Upgraded
                                                                                   from CRISIL
                                                                                   A4
IND Sphinx Precision Ltd                Foreign LOC           CRISIL A4+   17.5    Upgraded
                                                                                   from CRISIL
                                                                                   A4
Jamnadas Industries                     LOC                   CRISIL A3    30      Reaffirmed
Jay Ambe Gowri Chem Ltd                 Inland                CRISIL A3    50      Assigned
Jay Ambe Gowri Chem Ltd                 Export Packing        CRISIL A3    250     Assigned
                                        Credit
Jay Gee Overseas Pvt Ltd                LOC                   CRISIL A4    30      Assigned
Keaum Organics Pvt Ltd                  BG                    CRISIL A4    3.3     Reaffirmed
Macmet India Ltd                        BG                    CRISIL A2    600     Reaffirmed
Macmet India Ltd                        LOC                   CRISIL A2    15      Reaffirmed
Macmet India Ltd                        Proposed BG           CRISIL A2    200     Reaffirmed
Rani Infrastructure Development         BG                    CRISIL D     700     Downgraded
Ltd                                                                               from CRISIL
                                                                                   A4
R.P. Poly Packs Pvt Ltd                 LOC                   CRISIL A4+   155     Assigned
Rungamattee Tea & Industries Ltd        BG                    CRISIL A4+   2       Reaffirmed
Shree Balaji Engicons Pvt Ltd           BG                    CRISIL A4    300     Reaffirmed
Shree Balaji Engicons Pvt Ltd           Proposed BG           CRISIL A4    1200    Reaffirmed
Shree Ram Construction Co.              BG                    CRISIL A4    200     Reaffirmed
Southern Rocks and Minerals Pvt         Export Packing        CRISIL A2    73.5    Reaffirmed
Ltd                                     Credit
Southern Rocks and Minerals Pvt         LOC                   CRISIL A2    10      Reaffirmed
Ltd
Su - Raj Diamond Industries Ltd         LOC & BG              CRISIL A1    1330    Reaffirmed
Su - Raj Diamond Industries Ltd         Packing Credit        CRISIL A1    1500    Reaffirmed
Su - Raj Diamond Industries Ltd         Proposed ST Bk Loan   CRISIL A1    2000    Reaffirmed
                                        Fac
Sundaram-Clayton Ltd                    BG                    CRISIL A1    62.5    Reaffirmed
Sundaram-Clayton Ltd                    LOC                   CRISIL A1    915     Reaffirmed
Syngene International Ltd               LOC & BG              CRISIL A1+   136.5   Reaffirmed
Syngene International Ltd               Packing Credit in     CRISIL A1+   815     Reaffirmed
                                        Foreign Currency
Telecom Network Solutions Pvt Ltd       BG                    CRISIL A3+   75      Assigned
The Mathrubhumi Printing &              BG                    CRISIL A1    10      Reaffirmed
Publishing Co. Ltd
The Mathrubhumi Printing &              Cheque Discounting    CRISIL A1    20      Reaffirmed
Publishing Co. Ltd
The Mathrubhumi Printing &              LOC                   CRISIL A1    200     Reaffirmed
Publishing Co. Ltd
Varsha Cables Pvt Ltd                   LOC                   CRISIL A4    10      Assigned
Winsome Diamonds & Jewellery Pvt        LOC and BG            CRISIL A1    34700   Reaffirmed
Ltd
Winsome Diamonds & Jewellery Pvt        Packing Credit        CRISIL A1    3,750.0*Reaffirmed
Ltd
*Interchangeable with Post shipment credit

LONG TERM RATINGS:
-------------------
Ambalika Welfare Foundation             Overdraft Fac         CRISIL BBB-  70      Upgraded from
                                                                                   CRISIL BB+
Ambalika Welfare Foundation             TL                    CRISIL BBB-  104     Upgraded from
                                                                                   CRISIL BB+
Anuvin Industries Ltd                   CC                    CRISIL D     60      Assigned
Babolatt Associates                     CC                    CRISIL BB-   30*     Reaffirmed
* Rs.15 Millions interchangeable with Letter of Credit
Babolatt Associates                     Proposed LT Bk Loan   CRISIL BB-   25      Reaffirmed
                                        Fac
Babolatt Associates                     TL                    CRISIL BB-   35      Reaffirmed
Beekaylon Synthetics Pvt Ltd            CC                    CRISIL BBB   90      Reaffirmed
Beekaylon Synthetics Pvt Ltd            LT Loan               CRISIL BBB   500.7   Reaffirmed
Chandravadhanam Educational Trust       LT Loan               CRISIL BB+   91.8    Assigned
Chandravadhanam Educational Trust       Proposed LT Bk Loan   CRISIL BB+   16.2    Assigned
                                        Fac
Damcosoft Pvt Ltd                       TL                    CRISIL B+    146.4   Assigned
Damcosoft Pvt Ltd                       CC                    CRISIL B+    5       Assigned
Damcosoft Pvt Ltd                       Proposed LT Bk Loan   CRISIL B+    8.6     Assigned
                                        Fac
Essar Ferro Alloys Company              CC                    CRISIL B+    70      Reaffirmed
Godara Cotton Ginning & Pressing        TL                    CRISIL B     8.1     Assigned
Factory
Godara Cotton Ginning & Pressing        CC                    CRISIL B     40      Assigned
Factory
IND Sphinx Precision Ltd                Rupee TL              CRISIL BB    133.7   (Upgraded
                                                                                   from CRISIL
                                                                                   B+
IND Sphinx Precision Ltd                Proposed LT Bk Loan   CRISIL BB    6.8     (Upgraded
                                        Fac                                        from CRISIL
                                                                                   B+
IND Sphinx Precision Ltd                CC                    CRISIL BB    107     (Upgraded
                                                                                   from CRISIL
                                                                                   B+
Jamnadas Industries                     CC                    CRISIL BBB-  40      Reaffirmed
Jamnadas Industries                     Standby Line of       CRISIL BBB-  10      Reaffirmed
                                        Credit
Jamnadas Industries                     TL                    CRISIL BBB-  15      Reaffirmed
Jay Ambe Gowri Chem Ltd                 Proposed LT Bk Loan   CRISIL BBB-  370     Assigned
                                        Fac
Jay Ambe Gowri Chem Ltd                 CC                    CRISIL BBB-  600#    Assigned
# interchangeable with Inland
Jay Ambe Gowri Chem Ltd                 CC                    CRISIL BBB-  100     Assigned
Jay Gee Overseas Pvt Ltd                Proposed LT Bk Loan   CRISIL B+    47.6    Assigned
                                        Fac
Jay Gee Overseas Pvt Ltd                CC*                   CRISIL B+    77.5    Assigned
* Interchangeable with Packing credit
Keaum Organics Pvt Ltd                  CC                    CRISIL B-    10      Reaffirmed
Keaum Organics Pvt Ltd                  TL                    CRISIL B-    41.7    Reaffirmed
Macmet India Ltd                        CC                    CRISIL BBB+  50      Reaffirmed
MJR Rice Industries                     CC                    CRISIL D     60      Reaffirmed
MJR Rice Industries                     Proposed LT           CRISIL D     16.8    Reaffirmed
MJR Rice Industries                     TL                    CRISIL D     82      Reaffirmed
MSR Rice Industries                     CC                    CRISIL D     50      Reaffirmed
MSR Rice Industries                     Proposed LT Bk Loan   CRISIL D     14.3    Reaffirmed
                                        Fac
MSR Rice Industries                     TL                    CRISIL D     10.7    Reaffirmed
Padmashri Dr. Vithalrao Vikhe           CC                    CRISIL BB    100     Reaffirmed
Patil Foundation
Padmashri Dr. Vithalrao Vikhe           TL                    CRISIL BB    178     Reaffirmed
Patil Foundation
Padmashri Dr. Vithalrao Vikhe           Proposed LT Bk Loan   CRISIL BB    27      Reaffirmed
Patil Foundation                        Fac
Panvelkar Infrastructures Pvt Ltd       LT Loan               CRISIL B+    70      Assigned
Panvelkar Infrastructures Pvt Ltd       Proposed LT Bk Loan   CRISIL B+    130     Assigned
                                        Fac
R.P. Poly Packs Pvt Ltd                 CC                    CRISIL BB    45.00*  Assigned
*Both way nterchangeability of Rs.10 million between cash credit (stock) and cash credit (book
debt)
R.P. Poly Packs Pvt Ltd                 TL                    CRISIL BB    155     Assigned
R.P. Poly Packs Pvt Ltd                 Bill Discounting      CRISIL BB    40.00*  Assigned
*Both way nterchangeability of Rs.10 million between cash credit (stock) and cash credit (book
debt)
Rama Krishna Rice Industries            CC                    CRISIL D     60      Downgraded
                                                                                  from CRISIL B-
Rama Krishna Rice Industries            Proposed LT           CRISIL D     12      Downgraded
                                                                                  from CRISIL B-
Rani Infrastructure Development         CC                    CRISIL D     140     Downgraded
Ltd                                                                                from CRISIL C
Rungamattee Tea & Industries Ltd        CC                    CRISIL BB+   60      Reaffirmed
Salma Export Import Agency              Buyer Credit Limit    CRISIL B+    65      Reaffirmed
Salma Export Import Agency              CC                    CRISIL B+    20      Reaffirmed
Salma Export Import Agency              Proposed LT Bk Loan   CRISIL B+    15      Reaffirmed
                                        Fac
Shree Balaji Engicons Pvt Ltd           TL                    CRISIL B-    122     Reaffirmed
Shree Balaji Engicons Pvt Ltd           Proposed LT Bk Loan   CRISIL B-    155.5   Reaffirmed
                                        Fac
Shree Balaji Engicons Pvt Ltd           CC                    CRISIL B-    42.5    Reaffirmed
Shree Ram Construction Co.              Overdraft Fac         CRISIL B+    15      Reaffirmed
Siemens Financial Services Pvt Ltd      Corporate Credit      CCR AAA              Assigned
                                        Rating
Southern Rocks and Minerals Pvt         TL                    CRISIL BBB+  88      Reaffirmed
Ltd
Southern Rocks and Minerals Pvt         CC                    CRISIL BBB+  3.5     Reaffirmed
Ltd
Sundaram-Clayton Ltd                    Buyer Credit Limit *  CRISIL A+    300     Reaffirmed
* Interchangeable with cash credit
Sundaram-Clayton Ltd                    CC #                  CRISIL A+    2050    Reaffirmed
# Interchangeable with PCFC
Sundaram-Clayton Ltd                    Proposed TL           CRISIL A+    264.6   Reaffirmed
Sundaram-Clayton Ltd                    TL                    CRISIL A+    1401.8  Reaffirmed
Syngene International Ltd               Buyer Credit Limit    CRISIL AA-   1250    Reaffirmed
Syngene International Ltd               Proposed LT Bk Loan   CRISIL AA-   448.5   Reaffirmed
                                        Fac
Syngene International Ltd               Packing Credit in     CRISIL AA-   350     Reaffirmed
                                        Foreign Currency *
* Fully interchangeable with cash credit
Teckbond Laboratories Pvt Ltd           CC                    CRISIL D     50      Reaffirmed
Teckbond Laboratories Pvt Ltd           LOC*                  CRISIL D     25      Reaffirmed
*Letter of credit is fully interchangeable with bank guarantee
Teckbond Laboratories Pvt Ltd           TL                    CRISIL D     22      Reaffirmed
Teckbond Laboratories Pvt Ltd           Proposed LT Bk Loan   CRISIL D     3       Reaffirmed
                                        Fac
Telecom Network Solutions Pvt Ltd       CC                    CRISIL BBB   75      Assigned
The Jorehaut Tea Ltd                    LT Loan               CRISIL BB+   60      Upgraded from
                                                                                   CRISIL BB
The Jorehaut Tea Ltd                    Proposed LT Bk Loan   CRISIL BB+   90      Upgraded from
                                        Fac                                        CRISIL BB
The Mathrubhumi Printing &              Deferred Payment      CRISIL A     460     Reaffirmed
Publishing Co. Ltd                      Guarantee
The Mathrubhumi Printing &              CC                    CRISIL A     400     Reaffirmed
Publishing Co. Ltd
The Mathrubhumi Printing &              LT Loan               CRISIL A     1392.5  Reaffirmed
Publishing Co. Ltd
The Mathrubhumi Printing &              Proposed LT Bk Loan   CRISIL A     127.5   Reaffirmed
Publishing Co. Ltd                      Fac
Varsha Cables Pvt Ltd                   Proposed LT Bk Loan   CRISIL B+    4.9     Assigned
                                        Fac
Varsha Cables Pvt Ltd                   LT Loan               CRISIL B+    18.7    Assigned
Varsha Cables Pvt Ltd                   CC                    CRISIL B+    80      Assigned
Writefine Products Pvt Ltd              CC*                   CRISIL BBB-  182.5   Assigned
*fully inter-changeable with Letter of Credit, Bank Guarantee, bill discounting, buyers' credit
Writefine Products Pvt Ltd              TL                    CRISIL BBB-  217.5   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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