CRISIL ratings for Indian debt instruments-Apr 8

Mon Apr 8, 2013 2:01pm IST

Apr 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of April 5, 2013.


COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Agarwal Roadlines Pvt Ltd               BG                    CRISIL A4    20      Reaffirmed
ASK Automotive Pvt Ltd                  LOC                   CRISIL A1    2.5     Reaffirmed
ASK Automotive Pvt Ltd                  BG                    CRISIL A1    2.5     Reaffirmed
Balkrishna Textile Pvt Ltd              LOC                   CRISIL A4+   150^    Reaffirmed
^ includes Bank guarantee limit of Rs.85 millions
Churiwal Commercial Company Pvt Ltd     LOC                   CRISIL A4+   40      Assigned
Damodar Timber Depot                    Bill Discounting      CRISIL A4    1.5     Reaffirmed
Damodar Timber Depot                    LOC                   CRISIL A4    180     Reaffirmed
E.I.D. Parry (India) Ltd                BG ^                  CRISIL A1+   2200    Reaffirmed
^ Out of which Rs.1.5 Billion interchangeable with letter of credit
E.I.D. Parry (India) Ltd                Deferred Payment      CRISIL A1+   1500    Reaffirmed
                                        Guarantee
E.I.D. Parry (India) Ltd                LOC *                 CRISIL A1+   2250    Reaffirmed
*Interchangeable with Bank Guarantee
E.I.D. Parry (India) Ltd                Proposed BG           CRISIL A1+   200     Reaffirmed
E.I.D. Parry (India) Ltd                ST Loan ^^            CRISIL A1+   5000    Reaffirmed
^^Interchangeable with other fund-based limits, 
including working capital demand loan, packing credit and buyers credit
Infotech Enterprises Ltd                BG                    CRISIL A1+   150     Reaffirmed
Infotech Enterprises Ltd                LOC                   CRISIL A1+   50      Reaffirmed
Infotech Enterprises Ltd                Packing Credit        CRISIL A1+   300     Reaffirmed
Infotech Enterprises Ltd                Packing Credit in     CRISIL A1+   200     Reaffirmed
                                        Foreign Currency
Mahadeb Rice Mill Pvt Ltd               Inland/Import LOC     CRISIL A4    2       Assigned
Mas Constructions                       BG                    CRISIL A4    70      Reaffirmed
Miku Traders                            LOC                   CRISIL A4+   125     Reaffirmed
Narayan Polyurethane Industries         BG                    CRISIL A4+   1       Upgraded
                                                                                   from CRISIL
                                                                                   A4
Narayan Polyurethane Industries         LOC                   CRISIL A4+   55      Upgraded
                                                                                   from CRISIL
                                                                                   A4
Perry Impex Pvt Ltd                     Packing Credit        CRISIL A4    155     Suspended
Perry Impex Pvt Ltd                     Proposed ST Bk Loan   CRISIL A4    355     Suspended
                                        Fac
Protech Galvanisers & Fabricators       LOC*                  CRISIL A4    30      Suspended
Pvt Ltd
* Both the facilities are interchangeable with each other
Protech Galvanisers & Fabricators       BG*                   CRISIL A4    30      Suspended
Pvt Ltd
* Both the facilities are interchangeable with each other
R. C. Gems                              Proposed ST Bk Loan   CRISIL A4+   60      Assigned
                                        Fac
R. C. Gems                              Proposed Buyer        CRISIL A4+   80      Assigned
                                        Credit Limit
Rajeshwari Iron & Steel Co. Pvt Ltd     LOC                   CRISIL A4    100     Assigned
Shakuntala Wire Industries Pvt Ltd      Bill Purchase -       CRISIL A4    10      Assigned
                                        Discounting Fac
Sheetal Shipping & Metal                LOC                   CRISIL D     20      Upgraded
Processors Ltd                                                                     from 
                                                                                   CRISIL
                                                                                   A4
Spectrochem Pvt Ltd                     BG                    CRISIL A3    1       Reaffirmed
Sheetal Shipping & Metal                BG                    CRISIL D     12.5    Upgraded
Processors Ltd                                                                     from 
                                                                                   CRISIL
                                                                                   A4
Spectrochem Pvt Ltd                     LOC                   CRISIL A3    20      Reaffirmed
Speedcrafts Ltd                         BG                    CRISIL A3+   50      Assigned
Speedcrafts Ltd                         LOC                   CRISIL A3+   35      Assigned
Surindra Builders                       BG                    CRISIL A4    10      Assigned
Vardhman Textiles Ltd                   ST Debt               CRISIL A1+   6000    Reaffirmed
Vardhman Textiles Ltd                   Foreign Bill          CRISIL A1+   2500    Reaffirmed
                                        Purchase
Vardhman Textiles Ltd                   LOC & BG*             CRISIL A1+   2000    Reaffirmed
* Letter of credit and bank guarantee limits are interchangeable
Vishakha Irrigation Pvt Ltd             LOC                   CRISIL A4    100     Reaffirmed
Vishakha Irrigation Pvt Ltd             BG                    CRISIL A4    20      Reaffirmed
Yash Mining Pvt Ltd                     LOC                   CRISIL A4    100     Assigned


LONG TERM RATINGS:
-------------------
A G Oils Ltd                            CC                    CRISIL B+    100     Assigned
Agarwal Roadlines Pvt Ltd               CC                    CRISIL B     45      Downgraded
                                                                                   from CRISIL
                                                                                   B+
Agarwal Roadlines Pvt Ltd               WC Demand Loan        CRISIL B     70      Downgraded
                                                                                   from CRISIL
                                                                                   B+
Ambico Exports and Imports Pvt Ltd      CC                    CRISIL B+    106     Reaffirmed
Ambico Exports and Imports Pvt Ltd      Proposed CC Limit     CRISIL B+    34      Reaffirmed
Ambico Exports and Imports Pvt Ltd      Proposed LT Bk Loan   CRISIL B+    50      Reaffirmed
                                        Fac
ASK Automotive Pvt Ltd                  CC                    CRISIL A+    360     Reaffirmed
ASK Automotive Pvt Ltd                  TL                    CRISIL A+    545     Reaffirmed
Bajla Motors Pvt Ltd                    CC*                   CRISIL B     95      Reaffirmed
includes Inventory funding of Rs.55 million
Balkrishna Textile Pvt Ltd              CC                    CRISIL BB    150*    Reaffirmed
^ includes Bank guarantee limit of Rs.85 millions
Balkrishna Textile Pvt Ltd              Proposed LT Bk Loan   CRISIL BB    57.7    Reaffirmed
                                        Fac
Balkrishna Textile Pvt Ltd              TL                    CRISIL BB    153.8   Reaffirmed
Churiwal Commercial Company Pvt Ltd     CC                    CRISIL BB+   120     Reaffirmed
Damodar Timber Depot                    Overdraft Fac         CRISIL B     5       Reaffirmed
E.I.D. Parry (India) Ltd                CC *                  CRISIL AA    3120    Reaffirmed

* Interchangeable with other fund-based limits, including working capital demand loan,
 packing credit, short-term loans and buyers credit
E.I.D. Parry (India) Ltd                LT Loan               CRISIL AA    897.7   Reaffirmed
E.I.D. Parry (India) Ltd                Proposed LT Bk Loan   CRISIL AA    1233.4  Reaffirmed
                                        Fac
Empire Photovoltaic Systems Pvt         CC                    CRISIL B-    40      Downgraded
Ltd                                                                                from 
                                                                                   CRISIL B
Empire Photovoltaic Systems Pvt         Proposed LT Bk Loan   CRISIL B-    2.5     Downgraded
Ltd                                                                                from 
                                                                                   CRISIL B
Empire Photovoltaic Systems Pvt         TL                    CRISIL B-    127.5   Downgraded
Ltd                                                                                from 
                                                                                   CRISIL B
Godavari Plasto Containers Pvt Ltd      CC                    CRISIL D     35      Reaffirmed
Godavari Plasto Containers Pvt Ltd      TL                    CRISIL D     48.3    Reaffirmed
Godavari Plasto Containers Pvt Ltd      LOC                   CRISIL D     40      Reaffirmed
Godavari Plasto Containers Pvt Ltd      Proposed LT Bk Loan   CRISIL D     3.1     Reaffirmed
                                        Fac
Kedarnath Cottons Pvt Ltd               CC                    CRISIL B     200     Upgraded
                                                                                   from 
                                                                                   CRISIL D
Kedarnath Cottons Pvt Ltd               Proposed LT           CRISIL B     9.3     Upgraded
                                                                                   from 
                                                                                   CRISIL D 
Kirti Agrovet Ltd                       CC                    CRISIL BB-   250     Reaffirmed
Kirti Agrovet Ltd                       TL                    CRISIL BB-   87      Reaffirmed
Kirti Dal Mills Ltd                     CC                    CRISIL BB-   200     Reaffirmed
Kuber Tieup Pvt Ltd                     CC                    CRISIL D     150     Downgraded
                                                                                   from 
                                                                                   CRISIL B
L R N Finance Ltd                       Proposed LT Bk Loan   CRISIL BB    100     Reaffirmed
                                        Fac
Lakshmi Venkat Farms Ltd                CC                    CRISIL B     25      Assigned
Lakshmi Venkat Farms Ltd                TL                    CRISIL B     39      Assigned
Mahadeb Rice Mill Pvt Ltd               TL                    CRISIL B-    37.5    Assigned
Mahadeb Rice Mill Pvt Ltd               CC                    CRISIL B-    12.5    Assigned
Mas Constructions                       Proposed LT Bk Loan   CRISIL B+    10      Reaffirmed
                                        Fac
Mas Constructions                       CC                    CRISIL B+    20      Reaffirmed
Mayuri Broiler Breeding Farms Pvt       TL                    CRISIL B     65      Assigned
Ltd
Mayuri Broiler Breeding Farms Pvt       CC                    CRISIL B     33      Assigned
Ltd
Mayuri Broiler Breeding Farms Pvt       Proposed LT Bk Loan   CRISIL B     1       Assigned
Ltd                                     Fac
Miku Traders                            CC                    CRISIL BB-   495     Reaffirmed
Mukund Agro Products Pvt Ltd            CC                    CRISIL B-    50      Assigned
Mukund Agro Products Pvt Ltd            TL                    CRISIL B-    5.2     Assigned
Narayan Polyurethane Industries         CC                    CRISIL BB-   25      Upgraded
                                                                                   from CRISIL
                                                                                   B+
Narayan Polyurethane Industries         Proposed LT Bk Loan   CRISIL BB-   9       Upgraded
                                        Fac                                        from CRISIL
                                                                                   B+
Naroda Commercial Pvt Ltd               CC                    CRISIL D     150     Downgraded
                                                                                   from CRISIL
                                                                                   B+
OM Biomedic Pvt Ltd                     CC                    CRISIL D     45      Suspended
OM Biomedic Pvt Ltd                     LOC                   CRISIL D     5       Suspended
OM Biomedic Pvt Ltd                     TL                    CRISIL D     50      Suspended
OM Processors Pvt Ltd                   TL                    CRISIL B-    20      Assigned
OM Processors Pvt Ltd                   CC                    CRISIL B-    40      Assigned
OM Processors Pvt Ltd                   Overdraft Fac         CRISIL B-    10      Assigned
Protech Galvanisers & Fabricators       CC                    CRISIL B+    140     Suspended
Pvt Ltd
Protech Galvanisers & Fabricators       TL                    CRISIL B+    5.4     Suspended
Pvt Ltd
R. C. Gems                              Proposed CC Limit     CRISIL BB    20      Assigned
Rajeshwari Iron & Steel Co. Pvt Ltd     CC                    CRISIL B+    50      Assigned
Sai Surface Coating Technologies        CC                    CRISIL D     34.5    Reaffirmed
Sai Surface Coating Technologies        BG                    CRISIL D     1       Reaffirmed
Sai Surface Coating Technologies        TL                    CRISIL D     54      Reaffirmed
Sai Surface Coating Technologies        Bill discounting      CRISIL D     8.4     Reaffirmed
Shakuntala Wire Industries Pvt Ltd      CC                    CRISIL B+    60      Assigned
Sheetal Shipping & Metal                TL                    CRISIL D     16.1    Upgraded
Processors Ltd                                                                     from 
                                                                                   CRISIL C
Sheetal Shipping & Metal                Corporate loan        CRISIL D     4.3     Upgraded
Processors Ltd                                                                     from
                                                                                   CRISIL C
Sheetal Shipping & Metal                CC                    CRISIL D     97      Upgraded
Processors Ltd                                                                     from
                                                                                   CRISIL C
Spectrochem Pvt Ltd                     CC                    CRISIL BBB-  80      Reaffirmed
Spectrochem Pvt Ltd                     Proposed LT Bk Loan   CRISIL BBB-  5.5     Reaffirmed
                                        Fac
Spectrochem Pvt Ltd                     TL                    CRISIL BBB-  53.5    Reaffirmed
Speedcrafts Ltd                         CC                    CRISIL BBB   210     Assigned
Speedcrafts Ltd                         Proposed LT Bk Loan   CRISIL BBB   2.2     Assigned
                                        Fac
Speedcrafts Ltd                         TL                    CRISIL BBB   209     Assigned
Speedcrafts Ltd                         Standby LOC           CRISIL BBB   20      Assigned
Steeltech India                         CC                    CRISIL B     98      Assigned
Steeltech India                         Proposed LT Bk Loan   CRISIL B     2       Assigned
                                        Fac
Surindra Builders                       CC                    CRISIL B     60      Assigned
Unik Traders                            CC*                   CRISIL B+    162.5   Assigned
* includes a seasonal Limit of Rs.40 Millions
Vardhman Textiles Ltd                   CC                    CRISIL AA    11500*  Reaffirmed
Vardhman Textiles Ltd                   Proposed CC Limit     CRISIL AA    500*    Reaffirmed
* Includes Rs.12000 million sublimit for packing credit
Vardhman Textiles Ltd                   Proposed Rupee TL     CRISIL AA    563.2   Reaffirmed
Vardhman Textiles Ltd                   Rupee TL              CRISIL AA    37099.1 Reaffirmed
Vardhman Textiles Ltd                   FD                    FAA+         -       Reaffirmed
Vishakha Irrigation Pvt Ltd             CC                    CRISIL B+    180     Reaffirmed
Vishakha Irrigation Pvt Ltd             TL                    CRISIL B+    59.8    Reaffirmed
Vishakha Irrigation Pvt Ltd             Proposed LT Bk Loan   CRISIL B+    0.7     Reaffirmed
                                        Fac
Vishwas Tubes India Ltd                 TL                    CRISIL B+    6.4     Assigned
Vishwas Tubes India Ltd                 CC                    CRISIL B+    190*    Assigned
*Includes sublimit of Rs.100 million of Export Packing Credit/Packing Credit in
 Foreign Currency/Foreign Bill Discounting
Vishwas Tubes India Ltd                 Proposed LT Bk Loan   CRISIL B+    3.6     Assigned
                                        Fac
Yash Mining Pvt Ltd                     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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