CRISIL ratings for Indian debt instruments-Aug 19

Mon Aug 19, 2013 12:55pm IST

Aug 19 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of August 16, 2013.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aarti Industries Ltd                  LOC & BG           CRISIL A1      1250    Reaffirmed
Aarti Industries Ltd                  Proposed LOC & BG  CRISIL A1      1250    Reaffirmed
Apex Laboratories Pvt Ltd             BG                 CRISIL A4+     20      Downgraded
                                                                                from CRISIL A3
Apex Laboratories Pvt Ltd             Export Packing     CRISIL A4+     150     Downgraded
                                      Credit                                    from CRISIL A3
Apex Laboratories Pvt Ltd             LOC                CRISIL A4+     60      Downgraded
                                                                                from CRISIL A3
Atmastco Pvt Ltd                      LOC & BG           CRISIL A4+     10      Reaffirmed
AU Financiers (India) Ltd             BG                 CRISIL A1      200     Reaffirmed
AU Financiers (India) Ltd             ST Debt            CRISIL A1      3000    Reaffirmed
                                      (Including CP
                                      Programme)
C.H.V.N. Reddy                        BG                 CRISIL A4+     25      Assigned
Calica Resources Pvt Ltd              Export Packing     CRISIL A4      90      Reaffirmed
                                      Credit
Chowdhry Rubber & Chemical Pvt Ltd    LOC                CRISIL A4      75*     Assigned
* Includes 100% interchangeable from buyer's credit.
Chowdhry Rubber & Chemical Pvt Ltd    BG                 CRISIL A4      20      Assigned
FPC Petro Energy Pvt Ltd              LOC                CRISIL A4      30      Reaffirmed
FPC Petro Energy Pvt Ltd              Proposed LOC       CRISIL A4      140     Reaffirmed
Goldstone Technologies Ltd            BG                 CRISIL A4+     12.5    Assigned
Goldstone Technologies Ltd            Proposed BG        CRISIL A4+     27.5    Assigned
Howrah Mills Co. Ltd                  BG                 CRISIL A4      52.1    Reaffirmed
Howrah Mills Co. Ltd                  CC*                CRISIL A4      348     Reaffirmed
*includes Rs.80 million of Packing Credit Limit
Jindal Worldwide Ltd                  LOC                CRISIL A3      600     Reaffirmed
Lee Pharma Ltd                        BG                 CRISIL A3      15      Downgraded
                                                                                from CRISIL
                                                                                A3+
Lee Pharma Ltd                        LOC                CRISIL A3      100     Downgraded
                                                                                from CRISIL
                                                                                A3+
Lee Pharma Ltd                        Proposed LOC       CRISIL A3      40      Downgraded
                                                                                from CRISIL
                                                                                A3+
Madura Coats Pvt Ltd                  ST Debt            CRISIL A1+     200     Reaffirmed
Muthoot Fincorp Ltd                   ST Loan            CRISIL A1      1750    Reaffirmed
Muthoot Fincorp Ltd                   ST Debt            CRISIL A1      10000   Reaffirmed
Pack Print Industries (India) Pvt Ltd Import LOC Limit   CRISIL A4      30      Assigned
Pack Print Industries (India) Pvt Ltd BG                 CRISIL A4      5       Assigned
RBA Textiles Pvt Ltd                  BG                 CRISIL A4+     10      Reaffirmed
Sanjaykumar Shankarlal Export Pvt Ltd LOC                CRISIL A4+     52.5    Reaffirmed
Sathyam Steel Roof Structures Ltd     BG                 CRISIL A4      22      Assigned
Sathyam Steel Roof Structures Ltd     LOC                CRISIL A4      7       Assigned
Star Organic Foods Inc                Foreign Bill       CRISIL A4+     40      Assigned
                                      Discounting
Sudarshan Extrusions Pvt Ltd          BG                 CRISIL A4+     4       Reaffirmed
Sudarshan Extrusions Pvt Ltd          LOC                CRISIL A4+     30      Reaffirmed
Sudarshan Extrusions Pvt Ltd          BG                 CRISIL A4+     4       Reaffirmed
Thomson Rubbers (India) Pvt Ltd       Packing Credit     CRISIL A4+     17.5    Reaffirmed
Thomson Rubbers (India) Pvt Ltd       Export Packing     CRISIL A4+     100     Reaffirmed
                                      Credit^
^Rs.50.00 Million interchangeable with Foreign Discounting - Bill Purchase
Thomson Rubbers (India) Pvt Ltd       Standby Line of    CRISIL A4+     30      Reaffirmed
                                      Credit
Thomson Rubbers (India) Pvt Ltd       LOC                CRISIL A4+     100     Reaffirmed
Thomson Rubbers (India) Pvt Ltd       BG                 CRISIL A4+     1.5     Reaffirmed
Vamshadhara Paper Mills Ltd           BG                 CRISIL A4+     5       Reaffirmed
Vamshadhara Paper Mills Ltd           LOC                CRISIL A4+     202.5   Reaffirmed

LONG TERM RATINGS:
-------------------
Aarti Industries Ltd                  CC*                CRISIL A+      6250    Reaffirmed
Aarti Industries Ltd                  Proposed CC Limit* CRISIL A+      1250    Reaffirmed
*Interchangeable with working capital demand loan /pre-shipment and post-shipment export loans
Aarti Industries Ltd                  TL                 CRISIL A+      600     Reaffirmed
Aarti Industries Ltd                  Proposed TL        CRISIL A+      1770    Reaffirmed
ACE Autocars Pvt Ltd                  CC                 CRISIL B+      100     Assigned
Ambica Fabrics Pvt Ltd                TL                 CRISIL BB+     16.7    Reaffirmed
Ambica Fabrics Pvt Ltd                CC                 CRISIL BB+     49      Reaffirmed
Ambica Fabrics Pvt Ltd                Proposed LT Bk     CRISIL BB+     34.3    Reaffirmed
                                      Loan Fac
Apex Laboratories Pvt Ltd             CC                 CRISIL BB+     400     Downgraded
                                                                                from CRISIL
                                                                                BBB-
Apex Laboratories Pvt Ltd             LT Loan            CRISIL BB+     602.9   Downgraded
                                                                                from CRISIL
                                                                                BBB-
Atmastco Pvt Ltd                      CC                 CRISIL BB+     48      Reaffirmed
Atmastco Pvt Ltd                      Rupee TL           CRISIL BB+     23.2    Reaffirmed
AU Financiers (India) Ltd             NCDs               CRISIL A       250     Assigned
AU Financiers (India) Ltd             NCDs               CRISIL A       6550    Reaffirmed
AU Financiers (India) Ltd             Subordinated Debt  CRISIL A       1900    Reaffirmed
                                      Bonds
AU Financiers (India) Ltd             NCDs*              CRISIL A       500     Reaffirmed

*With put call options exercisable after 91 days and thereafter every quarter upto 27th month
from the date of allotment.
AU Financiers (India) Ltd             Line of Credit     CRISIL A       7278.1  Reaffirmed
AU Financiers (India) Ltd             LT Loan            CRISIL A       10391.6 Reaffirmed
AU Financiers (India) Ltd             Proposed LT Bk     CRISIL A       1830.3  Reaffirmed
                                      Loan Fac
Bansal Brothers (Delhi)               Overdraft Fac      CRISIL BB+     95      Assigned
Bansal Brothers (Delhi)               Proposed LT Bk     CRISIL BB+     25      Assigned
                                      Loan Fac
Bhanot Construction and Housing Ltd   CC                 CRISIL B       90      Downgraded
                                                                                from CRISIL B+
Bhanot Construction and Housing Ltd   Proposed LT Bk     CRISIL B       60      Downgraded
                                      Loan Fac                                  from CRISIL B+
BTS Jewellers Pvt Ltd                 CC                 CRISIL B       145     Reaffirmed
C.H.V.N. Reddy                        TL                 CRISIL BB-     5       Assigned
C.H.V.N. Reddy                        CC                 CRISIL BB-     30      Assigned
Calica Resources Pvt Ltd              Export Packing     CRISIL B       10.0*   Downgraded
                                      Credit                                    from CRISIL B+
*Includes a sublimit of Rs.10.0 million for cash credit
Calica Resources Pvt Ltd              Proposed LT Bk     CRISIL B       2       Downgraded
                                      Loan Fac                                  from CRISIL B+
Chowdhry Rubber & Chemical Pvt Ltd    CC                 CRISIL B+      125     Assigned
FPC Petro Energy Pvt Ltd              CC                 CRISIL B+      7.5     Reaffirmed
FPC Petro Energy Pvt Ltd              Proposed CC Limit  CRISIL B+      22.5    Reaffirmed
GKM College of Engineering & TechnologTL                 CRISIL BB+     220.5   Assigned
Goldstone Technologies Ltd            Overdraft Fac      CRISIL BB      10      Reaffirmed
Goldstone Technologies Ltd            Proposed Overdraft CRISIL BB      50      Reaffirmed
                                      Fac
Howrah Mills Co. Ltd                  CC@                CRISIL B       176     Reaffirmed
@includes Rs.42.5 million of Foreign Currency Demand Loan, Rs.70 million of Packing Credit and
Rs.42 million of Foreign Documentary Bill Purchased.
Howrah Mills Co. Ltd                  LOC                CRISIL B       200     Reaffirmed
Howrah Mills Co. Ltd                  TL                 CRISIL B       3.9     Reaffirmed
Jindal Worldwide Ltd                  CC                 CRISIL BBB-    800     Reaffirmed
Jindal Worldwide Ltd                  TL                 CRISIL BBB-    670     Reaffirmed
Keltech Infrastructure Ltd            Proposed LT Bk     CRISIL B       100     Assigned
                                      Loan Fac
Lakshmi Flour Mills                   CC                 CRISIL BB-     70      Assigned
Lee Pharma Ltd                        CC                 CRISIL BBB-    245     Downgraded
                                                                                from CRISIL
                                                                                BBB
Lee Pharma Ltd                        TL                 CRISIL BBB-    74      Downgraded
                                                                                from CRISIL
                                                                                BBB
Lee Pharma Ltd                        Standby Line of    CRISIL BBB-    60      Downgraded
                                      Credit                                    from CRISIL
                                                                                BBB
Lee Pharma Ltd                        Proposed LT Bk     CRISIL BBB-    216     Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                BBB
Madura Coats Pvt Ltd                  NCDs               CRISIL AA-     450     Reaffirmed
Marine Container Services (South) Pvt TL                 CRISIL BB+     190*    Reaffirmed
Ltd
* Includes the sublimit for Letter of Credit of Rs.190 million.
Muthoot Fincorp Ltd                   NCDs               CRISIL A       1000    Assigned
Muthoot Fincorp Ltd                   NCDs               CRISIL A       2000    Reaffirmed
Muthoot Fincorp Ltd                   Subordinated Debt  CRISIL A       750     Reaffirmed
                                      Bond
Muthoot Fincorp Ltd                   NCDs               CRISIL A       500     Reaffirmed
Muthoot Fincorp Ltd                   NCDs               CRISIL A       1000    Reaffirmed
Muthoot Fincorp Ltd                   CC                 CRISIL A       41110   Reaffirmed
Muthoot Fincorp Ltd                   LT Loan            CRISIL A       2702    Reaffirmed
Muthoot Fincorp Ltd                   Proposed LT Bk     CRISIL A       1998    Reaffirmed
                                      Loan Fac
Muthoot Fincorp Ltd                   WC Demand Loan     CRISIL A       5750    Reaffirmed
North India Steel Company             CC                 CRISIL B+      60      Reaffirmed
Pack Print Industries (India) Pvt Ltd TL                 CRISIL B+      30      Assigned
Pack Print Industries (India) Pvt Ltd CC                 CRISIL B+      85      Assigned
R J Square Link Pvt Ltd               CC                 CRISIL BB-     160     Reaffirmed
R J Square Link Pvt Ltd               TL                 CRISIL BB-     57.5    Reaffirmed
RBA Textiles Pvt Ltd                  CC                 CRISIL BB      180     Reaffirmed
RBA Textiles Pvt Ltd                  CC*                CRISIL BB      120     Reaffirmed
*Includes sublimit of foreign bill purchase/foreign bills negotiation/packing credit limit up to
Rs.100 million and working capital demand loan up to Rs.30 million.
RBA Textiles Pvt Ltd                  LT Loan            CRISIL BB      134.6   Reaffirmed
Sanjaykumar Shankarlal Export Pvt Ltd CC                 CRISIL BB-     28      Reaffirmed
Sathyam Steel Roof Structures Ltd     CC                 CRISIL B-      140     Assigned
Star Aqua International Pvt Ltd       CC                 CRISIL BB-     100     Assigned
Star Aqua International Pvt Ltd       LT Loan            CRISIL BB-     82.7    Assigned
Star Organic Foods Inc                LT Loan            CRISIL BB-     20      Assigned
Star Organic Foods Inc                Packing Credit     CRISIL BB-     50      Assigned
Sudarshan Extrusions Pvt Ltd          CC                 CRISIL BB      54      Reaffirmed
Sudarshan Extrusions Pvt Ltd          TL                 CRISIL BB      4       Reaffirmed
Suresh Productions Entertainment Ltd  CC                 CRISIL BB-     200     Downgraded
                                                                                from CRISIL BB
Thomson Rubbers (India) Pvt Ltd       CC                 CRISIL BB-     100     Reaffirmed
Tirupati Corrugators                  BG                 CRISIL D       14      Reaffirmed
Tirupati Corrugators                  CC*                CRISIL D       77.5    Reaffirmed
*interchangeable with letter of credit to the extent of Rs.17.5 Million
Tirupati Corrugators                  TL                 CRISIL D       48.5    Reaffirmed
Vamshadhara Paper Mills Ltd           CC                 CRISIL BB      257.5   Reaffirmed
Vamshadhara Paper Mills Ltd           Proposed CC Limit  CRISIL BB      60      Reaffirmed
Vamshadhara Paper Mills Ltd           Proposed TL        CRISIL BB      484.9   Reaffirmed
Vamshadhara Paper Mills Ltd           TL                 CRISIL BB      190.1   Reaffirmed
Vibgyor Automotive Pvt Ltd            CC                 CRISIL B+      30      Reaffirmed
Vibgyor Automotive Pvt Ltd            LT Loan            CRISIL B+      20      Reaffirmed
Vibgyor Automotive Pvt Ltd            Proposed LT Bk     CRISIL B+      20.5    Reaffirmed
                                      Loan Fac
Vision Machines Pvt Ltd               TL                 CRISIL BB-     48      Assigned
Vision Machines Pvt Ltd               CC                 CRISIL BB-     50      Assigned
Vision Machines Pvt Ltd               Proposed LT Bk     CRISIL BB-     2       Assigned
                                      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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