CRISIL ratings for Indian debt instruments-Sep 20

Fri Sep 20, 2013 10:52am IST

Sep 20 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of September 19, 2013.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Al Kabeer Exports Pvt Ltd             BG                 CRISIL A3+     26.7    -
Al Kabeer Exports Pvt Ltd             LOC                CRISIL A3+     4       -
Al Kabeer Exports Pvt Ltd             Packing Credit     CRISIL A3+     330     -
Amara Raja Electronics Ltd            BG*                CRISIL A4+     12      Upgraded from
                                                                                CRISIL A4
*Bank Guarantee and Letter of Credit in State Bank of India are interchangeable
Amara Raja Electronics Ltd            BG                 CRISIL A4+     3       Upgraded from
                                                                                CRISIL A4
Amara Raja Electronics Ltd            LOC*               CRISIL A4+     86      Upgraded from
                                                                                CRISIL A4
*Bank Guarantee and Letter of Credit in State Bank of India are interchangeable
Amir Chand Jagdish Kumar (Exports) LtdForeign Bill       CRISIL A3      700     Assigned
                                      Purchase
Amir Chand Jagdish Kumar (Exports) LtdExport Packing     CRISIL A3      3465    Assigned
                                      Credit
Bhagiradha Chemicals & Industries Ltd LOC and BG         CRISIL A3      252.5   Reaffirmed
Chhotanagpur Rope Works Pvt Ltd       LOC                CRISIL A4+     8.5     Reaffirmed
G. R. Metaliks and Industries Pvt Ltd LOC                CRISIL A4+     75      Downgraded
                                                                                from CRISIL A3
G. R. Minerals and Industries Pvt Ltd LOC                CRISIL A4+     20      Assigned
G.R.Sponge and Power Ltd              BG                 CRISIL A4+     30      Downgraded
                                                                                from CRISIL
                                                                                A3+
G.R.Sponge and Power Ltd              LOC                CRISIL A4+     50      Downgraded
                                                                                from CRISIL
                                                                                A3+
Gold Star Centoquattro Jewellery Pvt  Export Packing     CRISIL A4+     80      Reaffirmed
Ltd                                   Credit
Gold Star Cottex Ltd                  Packing Credit     CRISIL A4+     160     Assigned
Gurdaspur Overseas Ltd                LOC                CRISIL A4+     52.5    Upgraded from
                                                                                CRISIL A4
Gurdaspur Overseas Ltd                Packing Credit*    CRISIL A4+     111     Upgraded from
                                                                                CRISIL A4
* Sub limit of Rs.100 Million of packing credit and post shipment credit
J. Maheshkumar Petrochemicals Pvt Ltd Bill discounting   CRISIL A3+     190     Reaffirmed
                                      under LOC
J. Maheshkumar Petrochemicals Pvt Ltd BG                 CRISIL A3+     70      Reaffirmed
J. Maheshkumar Petrochemicals Pvt Ltd Proposed BG        CRISIL A3+     20      Reaffirmed
Kalindee Rail Nirman Engineers Ltd    BG                 CRISIL A4+     3540    Downgraded
                                                                                from CRISIL
                                                                                A3+
Kalindee Rail Nirman Engineers Ltd    LOC                CRISIL A4+     340     Downgraded
                                                                                from CRISIL
                                                                                A3+
Kalindee Rail Nirman Engineers Ltd    LOC & BG           CRISIL A4+     200     Downgraded
                                                                                from CRISIL
                                                                                A3+
Kalindee Rail Nirman Engineers Ltd    Proposed ST Bk     CRISIL A4+     470     Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                A3+
Kalindee Rail Nirman Engineers Ltd    Standby Line of    CRISIL A4+     50      Downgraded
                                      Credit                                    from CRISIL
                                                                                A3+
Krishna Electrical Industries Ltd     BG                 CRISIL A4      170     Downgraded
                                                                                from CRISIL
                                                                                A4+
Krishna Electrical Industries Ltd     Bill               CRISIL A4      30      Downgraded
                                      Pur-Discounting Fac                       from CRISIL
                                                                                A4+
Krishna Electrical Industries Ltd     LOC                CRISIL A4      100     Downgraded
                                                                                from CRISIL
                                                                                A4+
Lalitha Jewellery Mart Pvt Ltd        BG                 CRISIL A3+     100     Reaffirmed
Sanwar Mal Khetawat                   BG                 CRISIL A4+     175     Reaffirmed
Shakti Apifoods Pvt Ltd               Bill Discounting*  CRISIL A4+     500     Reaffirmed
*Includes a sublimit of export packing credit of Rs.330 million
Shilpa Steel & Power Ltd              BG                 CRISIL A3+     800     Reaffirmed
Shilpa Steel & Power Ltd              Standby Line of    CRISIL A3+     100     Reaffirmed
                                      Credit
Shilpa Steel & Power Ltd              LOC                CRISIL A3+     200     Reaffirmed
Sri Satyanarayana Raw & Boiled Rice   Export Packing     CRISIL A4+     200     Reaffirmed
Mill Pvt Ltd                          credit
Sri Satyanarayana Raw & Boiled Rice   BG                 CRISIL A4+     1.5     Reaffirmed
Mill Pvt Ltd
Tijiya Engineering Pvt Ltd            Bill Discounting   CRISIL A4      50      Reaffirmed
Tijiya Engineering Pvt Ltd            Packing Credit     CRISIL A4      40      Reaffirmed
Tijiya Engineering Pvt Ltd            Standby Line of    CRISIL A4      10      Reaffirmed
                                      Credit
8K Miles Software Services Ltd        Proposed LT Bk     CRISIL BB      25      Assigned
                                      Loan Fac
8K Miles Software Services Ltd        Secured Overdraft  CRISIL BB      25      Assigned
                                      Fac

LONG TERM RATINGS:
-------------------
Al Kabeer Exports Pvt Ltd             Proposed Long-     CRISIL BBB     11.6    -
                                      Term Bk Loan Fac
Al Kabeer Exports Pvt Ltd             TL                 CRISIL BBB     77.7    -
Amara Raja Electronics Ltd            CC                 CRISIL BB-     113.5   Upgraded from
                                                                                CRISIL B+
Amara Raja Electronics Ltd            LT Loan            CRISIL BB-     172     Upgraded from
                                                                                CRISIL B+
Amir Chand Jagdish Kumar (Exports) LtdProposed LT Bk     CRISIL BBB-    500     Assigned
                                      Loan Fac
Amir Chand Jagdish Kumar (Exports) LtdCC                 CRISIL BBB-    535     Assigned
Amrutha Varshini Dairy Farms Pvt Ltd  CC                 CRISIL BB+     125     Assigned
Amrutha Varshini Dairy Farms Pvt Ltd  LT Loan            CRISIL BB+     45      Assigned
Auto Profiles Ltd                     Proposed LT Bk     CRISIL D       66.2    Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                A4+
Auto Profiles Ltd                     CC*                CRISIL D       240     Downgraded
                                                                                from CRISIL
                                                                                BB+
*Interchangeable with purchase bill discounting to the extent of 128.0 Million
Auto Profiles Ltd                     TL                 CRISIL D       303.8   Downgraded
                                                                                from CRISIL
                                                                                BB+
Avenue Supermarts Ltd                 WC Fac             CRISIL A+      675     Reaffirmed
Avenue Supermarts Ltd                 Proposed LT Bk     CRISIL A+      1489    Reaffirmed
                                      Loan Fac
Avenue Supermarts Ltd                 Proposed WC Fac    CRISIL A+      100     Reaffirmed
Avenue Supermarts Ltd                 TL                 CRISIL A+      5236    Reaffirmed
Bemco Hydraulics Ltd                  BG*                CRISIL D       75      Downgraded
                                                                                from CRISIL
                                                                                A4+
* Interchangeability from bank guarantee to letter of credit is Rs.30.00 Million
Bemco Hydraulics Ltd                  BG**               CRISIL D       57.5    Downgraded
                                                                                from CRISIL
                                                                                A4+
Bemco Hydraulics Ltd                  CC                 CRISIL D       60      Downgraded
                                                                                from CRISIL C
Bemco Hydraulics Ltd                  LOC**              CRISIL D       30      Downgraded
                                                                                from CRISIL
                                                                                A4+
** Interchangeability from letter of credit to bank guarantee is allowed up to maximum Rs.10.00
Million
Bemco Hydraulics Ltd                  LOC*               CRISIL D       2.5     Downgraded
                                                                                from CRISIL
                                                                                A4+
Bemco Hydraulics Ltd                  Proposed LT Bk     CRISIL D       105     Downgraded
                                      Loan Fac                                  from CRISIL C
Bemco Hydraulics Ltd                  TL                 CRISIL D       20      Downgraded
                                                                                from CRISIL C
Bhagiradha Chemicals & Industries Ltd CC *               CRISIL BBB-    165     Reaffirmed
*Interchangeable with export packaging credit, packing credit in foreign currency, foreign bills
discounting, and foreign usance bills discounting
Bhagiradha Chemicals & Industries Ltd LT Loan            CRISIL BBB-    100     Reaffirmed
Chhotanagpur Rope Works Pvt Ltd       CC                 CRISIL BB      51.5    Reaffirmed
Chhotanagpur Rope Works Pvt Ltd       Proposed LT Bk     CRISIL BB      15.1    Reaffirmed
                                      Loan Fac*
* Includes bank guarantee upto Rs.2.0 Million
Chhotanagpur Rope Works Pvt Ltd       Standby LOC        CRISIL BB      8.5     Reaffirmed
Chhotanagpur Rope Works Pvt Ltd       TL                 CRISIL BB      1.4     Reaffirmed
Diam Star Jewellery (India) Pvt Ltd   Export Packing     CRISIL BBB     271.5   Reaffirmed
                                      Credit
Diam Star Jewellery (India) Pvt Ltd   LOC & BG           CRISIL BBB     100     Reaffirmed
Diam Star Jewellery (India) Pvt Ltd   Post Shipment      CRISIL BBB     188.5   Reaffirmed
                                      Credit
Diam Star Jewellery (India) Pvt Ltd   Proposed LT Bk     CRISIL BBB     80      Reaffirmed
                                      Loan Fac
Emirates Technologies Pvt Ltd         TL                 CRISIL B+      1600    Reaffirmed
G. R. Metaliks and Industries Pvt Ltd CC                 CRISIL BB      86      Downgraded
                                                                                from CRISIL
                                                                                BBB-
G. R. Metaliks and Industries Pvt Ltd TL                 CRISIL BB      114.4   Downgraded
                                                                                from CRISIL
                                                                                BBB-
G. R. Minerals and Industries Pvt Ltd CC                 CRISIL BB      55      Downgraded
                                                                                from CRISIL
                                                                                BBB-
G. R. Minerals and Industries Pvt Ltd LT Loan            CRISIL BB      9.3     Downgraded
                                                                                from CRISIL
                                                                                BBB-
G.R.Sponge and Power Ltd              CC                 CRISIL BB+     220     Downgraded
                                                                                from CRISIL
                                                                                BBB
Gold Star Diamond Pvt Ltd             Export Packing     CRISIL BBB     405.6   Reaffirmed
                                      Credit
Gold Star Diamond Pvt Ltd             Post-Shipment      CRISIL BBB     300.4   Reaffirmed
                                      Credit
Gold Star Diamond Pvt Ltd             Proposed LT Bk     CRISIL BBB     236.8   Reaffirmed
                                      Loan Fac
Gold Star Jewellery Pvt Ltd           Export Packing     CRISIL BBB     532     Reaffirmed
                                      Credit
Gold Star Jewellery Pvt Ltd           LOC & BG*          CRISIL BBB     51.5    Reaffirmed
*Fully interchangeable with Post-Shipment Credit
Gold Star Jewellery Pvt Ltd           Post-Shipment      CRISIL BBB     198     Reaffirmed
                                      Credit
Gold Star Jewellery Pvt Ltd           Proposed Long-     CRISIL BBB     98.5    Reaffirmed
                                      Term Bk Loan Fac
Good Health Agro Tech Pvt Ltd         CC                 CRISIL D       200     Downgraded
                                                                                from CRISIL
                                                                                BB+
Good Health Agro Tech Pvt Ltd         LOC                CRISIL D       1070    Downgraded
                                                                                from CRISIL
                                                                                A4+
Good Health Agro Tech Pvt Ltd         TL                 CRISIL D       75      Downgraded
                                                                                from CRISIL
                                                                                BB+
Gurdaspur Overseas Ltd                CC                 CRISIL BB-     100     Upgraded from
                                                                                CRISIL B+
Gurdaspur Overseas Ltd                TL**               CRISIL BB-     180     Upgraded from
                                                                                CRISIL B+
**Sub limit of Rs.52.5 Million of foreign Letter of Credit
J. Maheshkumar Petrochemicals Pvt Ltd CC                 CRISIL BBB     20      Reaffirmed
J. Maheshkumar Petrochemicals Pvt Ltd Channel Financing  CRISIL BBB     170     Reaffirmed
Jaipur National University            Proposed LT Bk     CRISIL BBB-    2453.6  Reaffirmed
                                      Loan Fac
Jaipur National University            TL                 CRISIL BBB-    616.4   Reaffirmed
Kalindee Rail Nirman Engineers Ltd    CC                 CRISIL BB+     870     Downgraded
                                                                                from CRISIL
                                                                                BBB
Kalindee Rail Nirman Engineers Ltd    Proposed LT Bk     CRISIL BB+     230     Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                BBB
Kamachi Granites Pvt Ltd              CC                 CRISIL B-      2       -
Kamachi Granites Pvt Ltd              TL                 CRISIL B-      3       -
Kamachi Granites Pvt Ltd              Proposed LT Bk LoanCRISIL B-      1.5     -
KGF Cottons Pvt Ltd                   CC                 CRISIL D       236     Downgraded
                                                                                from CRISIL
                                                                                BB+
KGF Cottons Pvt Ltd                   LOC                CRISIL D       325     Downgraded
                                                                                from CRISIL
                                                                                A4+
KGF Cottons Pvt Ltd                   TL                 CRISIL D       60      Downgraded
                                                                                from CRISIL
                                                                                BB+
Krishna Electrical Industries Ltd     CC                 CRISIL B-      120     Downgraded
                                                                                from CRISIL
                                                                                BB-
Krishna Electrical Industries Ltd     LOC *              CRISIL B-      20      Downgraded
                                                                                from CRISIL
                                                                                BB-
*Interchangeable with cash credit
Krishna Electrical Industries Ltd     Rupee TL           CRISIL B-      6.5     Downgraded
                                                                                from CRISIL
                                                                                BB-
Lalitha Jewellery Mart Pvt Ltd        CC*                CRISIL BBB     3900    Reaffirmed
* includes sublimit of Rs.150 Million interchangeable with Bank guarantee and standby line of
credit ,Fully interchangeable with bank guarantee or standby line of credit upto Rs.900 Million
,Includes sublimit of Rs.200 Million for Standby line of credit,Includes sublimit of Rs400
Million interchangeable with standby line of credit and Bank Guarantee ,Fully interchangeable
with standby line of credit upto Rs.250 Million,Fully interchangeable with Gold on loan scheme
upto Rs. 500 Million 
 Lalitha Jewellery Mart Pvt Ltd        Proposed CC Limit  CRISIL BBB     3500    Reaffirmed
Madhuban Builders                     TL                 CRISIL BB-     80      Assigned
Nikhil Refineries Pvt Ltd             CC                 CRISIL D       90      Downgraded
                                                                                from CRISIL
                                                                                BB+
Nikhil Refineries Pvt Ltd             LOC                CRISIL D       900     Downgraded
                                                                                from CRISIL
                                                                                A4+
Omkar Agrotech Pvt Ltd                CC                 CRISIL BB-     70      Assigned
Ramesh Steel Industries               CC                 CRISIL BB-     60      Downgraded
                                                                                from CRISIL
                                                                                BB+
Ramesh Steel Industries               LT Loan            CRISIL BB-     15      Downgraded
                                                                                from CRISIL
                                                                                BB+
Sandy Resort Pvt Ltd                  TL                 CRISIL D       146     Reaffirmed
Sanwar Mal Khetawat                   CC                 CRISIL BB+     15      Reaffirmed
Sanwar Mal Khetawat                   Proposed LT Bk     CRISIL BB+     10      Reaffirmed
                                      Loan Fac
Sekisui DLJM Molding Pvt Ltd          CC                 CRISIL BB+     60      Reaffirmed
Sekisui DLJM Molding Pvt Ltd          TL                 CRISIL BB+     203.5   Reaffirmed
Sekisui DLJM Molding Pvt Ltd          Proposed LT Bk     CRISIL BB+     1.5     Reaffirmed
                                      Loan Fac
Shakti Apifoods Pvt Ltd               TL                 CRISIL BB+     50.5    Reaffirmed
Shilpa Steel & Power Ltd              CC                 CRISIL BBB     1000    Reaffirmed
Shilpa Steel & Power Ltd              TL                 CRISIL BBB     360     Reaffirmed
Shree Jee Trading Company             CC                 CRISIL B-      80      Reaffirmed
Shree Sharavana Traders               CC*                CRISIL BB-     200     Reaffirmed
* Rs 50 Million sub limit of Bank Guarantee
Sri Satyanarayana Raw & Boiled Rice   TL                 CRISIL BB-     107.5   Reaffirmed
Mill Pvt Ltd
Sri Satyanarayana Raw & Boiled Rice   CC                 CRISIL BB-     400     Reaffirmed
Mill Pvt Ltd
Sri Satyanarayana Raw & Boiled Rice   Proposed Long-     CRISIL BB-     12.9    Reaffirmed
Mill Pvt Ltd                          term Bk Loan Fac
Tijiya Engineering Pvt Ltd            CC*                CRISIL B       10      Downgraded
                                                                                from CRISIL B+
*with packing credit
Travancore Gold India Pvt Ltd         CC                 CRISIL BB+     250     -
Vamona Developers Pvt Ltd             Proposed LT Bk     CRISIL BB-     500     Assigned
                                      Loan Fac
Vamona Developers Pvt Ltd             TL                 CRISIL BB-     1500    Assigned
Vinod Rice Mill Pvt Ltd               CC*                CRISIL BB      450     Reaffirmed
* Includes sub-limit of Export Packing Credit/Foreign Bill Discounting/Packing Credit Foreign
Currency of Rs.200 Million.
Vinod Rice Mill Pvt Ltd               Warehouse FinancingCRISIL BB      100     Reaffirmed
Xplore Infrastructure Pvt Ltd         CC                 CRISIL D       130     Downgraded
                                                                                from CRISIL B
--------------------------------------------------------------------------------------------
$: 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)
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Shares Hit Record

Sensex, Nifty rise to second consecutive record high

Sensex surges 500 points on BOJ easing, L&T gains

The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro.  Full Article 

REUTERS SHOWCASE

Wilful Negligence?

Wilful Negligence?

SEBI piles pressure on Sahara to sell overseas hotels  Full Article 

Indian Economy

Indian Economy

India's fiscal deficit in H1 almost 83 pct of full-year target.  Full Article 

M&M Earnings

M&M Earnings

M&M Q2 net profit down 4 percent, hit by poor monsoon.  Full Article 

Ban on E-Cigs?

Ban on E-Cigs?

Govt considers ban on e-cigarettes, sale of single smokes.  Full Article 

Commodities

Commodities

Silver futures in India hit four-year low on global cues.  Full Article 

BOJ Policy

BOJ Policy

BOJ shocks markets with surprise easing as inflation slows.  Full Article 

Shadow Banking

Shadow Banking

China's shadow banking sector growing rapidly, third largest in world - FSB.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage