CRISIL ratings for Indian debt instruments-Oct 10

Thu Oct 10, 2013 11:17am IST

Oct 10 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of October 9, 2013.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
ACC Ltd                               BG*                CRISIL A1+     4750    Reaffirmed
*Bank guarantee and letter of credit limits are interchangeable
ACC Ltd                               LOC*               CRISIL A1+     3750    Reaffirmed
*Bank guarantee and letter of credit limits are interchangeable
Aluplex India Pvt Ltd                 BG                 CRISIL A4+     40      Suspended
Aluplex India Pvt Ltd                 LOC                CRISIL A4+     72.5    Suspended
Ambuja Cements Ltd                    ST Debt            CRISIL A1+     1000    Reaffirmed
Amco Saft India Ltd                   BG                 CRISIL A3      100     Reaffirmed
Amco Saft India Ltd                   LOC                CRISIL A3      15      Reaffirmed
Amiya Commerce & Construction Co Pvt  BG                 CRISIL A4+     100     Suspended
Ltd
Balaji Machine Works Pvt Ltd          BG                 CRISIL A4+     10      -
Bimla Maru Fashions Pvt Ltd           LOC*               CRISIL A4+     70      Downgraded
                                                                                from CRISIL A3
*Fully Interchangeable With Buyer Credit
Bimla Maru Fashions Pvt Ltd           LOC                CRISIL A4+     50      Downgraded
                                                                                from CRISIL A3
Calico Trends                         LOC                CRISIL A2      20      Reaffirmed
Coastal Packagers Pvt Ltd             LOC                CRISIL A4+     4.3     Reaffirmed
Coastal Packagers Pvt Ltd             Post Shipment      CRISIL A4+     75      Reaffirmed
                                      Credit
Coastal Packagers Pvt Ltd             Pre Shipment CreditCRISIL A4+     40      Reaffirmed
Dr.Shaji`s MRI & Medical Research     LOC                CRISIL A4      70      Upgraded from
Centre Pvt Ltd                                                                  CRISIL D
Godrej Seeds & Genetics Ltd           Line of Credit     CRISIL A3      100     Assigned
INFINA Finance Pvt Ltd                ST Debt            CRISIL A1+     1000    Reaffirmed
(Reduced from Rs.3.5 Billion)
ITFT Consultancy Pvt Ltd              Overdraft          CRISIL A4      17.4    Upgraded from
                                                                                CRISIL D
J.J.Glastronics Pvt Ltd               BG                 CRISIL A4      5       Upgraded from
                                                                                CRISIL D
# Interchangeable with domestic bills for purchase to the extent of Rs.5 million
J.J.Glastronics Pvt Ltd               Foreign Bill       CRISIL A4      100     Upgraded from
                                      Purchase                                  CRISIL D
* Interchangeable with letter of credit to the extent of Rs.15 million
J.J.Glastronics Pvt Ltd               Packing Credit     CRISIL A4      60      Upgraded from
                                                                                CRISIL D
J.J.Glastronics Pvt Ltd               Proposed ST Bk     CRISIL A4      55      Upgraded from
                                      Loan Fac                                  CRISIL D
Jash Engineering Ltd                  BG                 CRISIL A3      140     Downgraded
                                                                                from CRISIL A2
Jash Engineering Ltd                  LOC                CRISIL A3      80      Downgraded
                                                                                from CRISIL A2
Jash Engineering Ltd                  Proposed BG        CRISIL A3      30      Downgraded
                                                                                from CRISIL A2
Kanoria Chembond Pvt Ltd              BG                 CRISIL A4      2.5     Reaffirmed
Kanoria Chembond Pvt Ltd              Buyer Credit Limit CRISIL A4      20      Reaffirmed
Kohinoor Feeds & Fats Ltd             BG                 CRISIL A4+     1.5     Placed on
                                                                                Notice of
                                                                                Withdrawal
L&T-Valdel Engineering Ltd            BG                 CRISIL A1+     35      Reaffirmed
L&T-Valdel Engineering Ltd            Proposed BG        CRISIL A1+     145     Reaffirmed
Larsen & Toubro Infotech Ltd          BG                 CRISIL A1+     1130    Reaffirmed
Larsen & Toubro Infotech Ltd          Packing Credit     CRISIL A1+     4260    Reaffirmed
Larsen & Toubro Infotech Ltd          Proposed BG        CRISIL A1+     370     Reaffirmed
Larsen & Toubro Infotech Ltd          Proposed Packing   CRISIL A1+     740     Reaffirmed
                                      Credit
Madura Coats Pvt Ltd                  LOC                CRISIL A1+     2500^^  Reaffirmed
^^ Interchangeable with other non-fund-based limits
Mantra Industries Ltd                 BG                 CRISIL A4+     21.4    Assigned
MG Housing Pvt Ltd                    BG                 CRISIL A4      100     Assigned
MG Housing Pvt Ltd                    Proposed BG        CRISIL A4      150     Assigned
Nitta Gelatin India Ltd               Bill Purchase -    CRISIL A2+     270     Reaffirmed
                                      Discounting Fac
Nitta Gelatin India Ltd               LOC & BG           CRISIL A2+     39.1    Reaffirmed
Nitta Gelatin India Ltd               Line of Credit     CRISIL A2+     46      Reaffirmed
Nitta Gelatin India Ltd               Packing Credit     CRISIL A2+     289     Reaffirmed
R. P. Metal Sections Pvt Ltd          LOC                CRISIL A4+     30      Upgraded from
                                                                                CRISIL A4
Raghunath Exports Pvt Ltd             Foreign Bill       CRISIL A4      20      Reaffirmed
                                      Discounting
Raghunath Exports Pvt Ltd             Packing Credit     CRISIL A4      40      Reaffirmed
Raunaq Ice & Cold Storage             Export Packing     CRISIL A4      75      Suspended
                                      Credit
Raunaq Ice & Cold Storage             Foreign Bill       CRISIL A4      60      Suspended
                                      Purchase*
*Foreign Bill Purchase and Export Packing Credit are fully interchangeable
Shabari International                 Export Packing     CRISIL A4+     74.3    Reaffirmed
                                      Credit
Shabari International                 Standby Line of    CRISIL A4+     13.7    Reaffirmed
                                      Credit
Sheth & Sura Engineers Pvt Ltd        BG                 CRISIL A3      320     Reaffirmed
Sheth & Sura Engineers Pvt Ltd        LOC                CRISIL A3      40      Reaffirmed

Sree lakshmi Agencies                 LOC                CRISIL A4+     60      Reaffirmed
Sri Ramadas Motor Transport Ltd       BG                 CRISIL A2+     17.5    Reaffirmed
Sri Ramadas Motor Transport Ltd       LOC                CRISIL A2+     2.5     Reaffirmed
SRV Knit Tech Pvt Ltd                 Bill Purchase -    CRISIL A4      27      Reaffirmed
                                      Discounting Fac
SRV Knit Tech Pvt Ltd                 Packing Credit     CRISIL A4      5       Reaffirmed
SunBorne Energy Gujarat One Pvt Ltd   BG                 CRISIL A3+     80      Assigned
Suryalata Spinning Mills Ltd          Export Packing     CRISIL A3      120     Upgraded from
                                      Credit                                    CRISIL A4+
Suryalata Spinning Mills Ltd          LOC & BG           CRISIL A3      4       Upgraded from
                                                                                CRISIL A4+
Suryalata Spinning Mills Ltd          Proposed Export    CRISIL A3      13.1    Upgraded from
                                      Packing Credit                            CRISIL A4+
Suryalata Spinning Mills Ltd          Proposed ST Bk     CRISIL A3      6       Upgraded from
                                      Loan Fac                                  CRISIL A4+
The Arasan Aluminium Industries Pvt LtBG                 CRISIL A4+     2       Assigned
Westwell Iron & Steel Pvt Ltd         BG                 CRISIL A4      30      Downgraded
                                                                                from CRISIL
                                                                                A4+
Zuha Leather Pvt Ltd                  BG                 CRISIL A4+     5       Reaffirmed
Zuha Leather Pvt Ltd                  Export Packing     CRISIL A4+     25      Reaffirmed
                                      Credit@
@Both way interchangeability of Rs 5.00 Million between EPC and FDB(Non-LC)
Zuha Leather Pvt Ltd                  Foreign Bill       CRISIL A4+     10      Reaffirmed
                                      Discounting*
*Non-LC
Zuha Leather Pvt Ltd                  Foreign Bill       CRISIL A4+     30      Reaffirmed
                                      Discounting#
#LC
Zuha Leather Pvt Ltd                  LOC                CRISIL A4+     55      Reaffirmed


LONG TERM RATINGS:
-------------------
ACC Ltd                               NCDs               CRISIL AAA     5000    Reaffirmed
ACC Ltd                               Overdraft Fac      CRISIL AAA     1560    Reaffirmed
Adani Hazira Port Pvt Ltd             External           CRISIL BBB+    12500   Upgraded from
                                      Commercial                                CRISIL BBB
                                      Borrowings
Adani Hazira Port Pvt Ltd             Rupee TL           CRISIL BBB+    5000    Upgraded from
                                                                                CRISIL BBB
Altab Charitable Trust Nadia          TL                 CRISIL B-      100     Suspended
Aluplex India Pvt Ltd                 CC                 CRISIL BB      120     Suspended
Ambuja Cements Ltd                    Proposed LT Bk     CRISIL AAA     8000    Reaffirmed
                                      Loan Fac
Amco Saft India Ltd                   CC                 CRISIL BBB-    45      Reaffirmed
Amco Saft India Ltd                   Proposed LT Bk     CRISIL BBB-    30      Reaffirmed
                                      Loan Fac
Amco Saft India Ltd                   TL                 CRISIL BBB-    110     Reaffirmed
Amiya Commerce & Construction Co Pvt  CC                 CRISIL BB+     150     Suspended
Ltd
Apna Punjab Homes Ltd                 TL                 CRISIL D       410     Downgraded
                                                                                from CRISIL B+
B.S.Industries                        CC                 CRISIL B+      50      Reaffirmed
B.S.Industries                        Proposed LT Bk     CRISIL B+      3.8     Reaffirmed
                                      Loan Fac
B.S.Industries                        TL                 CRISIL B+      5       Reaffirmed
Balaji Machine Works Pvt Ltd          CC                 CRISIL BB-     54*     -
*Includes sub-limit of Letter of Credit of Rs.30.0 Million
Balaji Machine Works Pvt Ltd          WC Demand Loan     CRISIL BB-     216     -
Balaji Machine Works Pvt Ltd          Rupee TL           CRISIL BB-     55.6    -
Balaji Machine Works Pvt Ltd          Proposed LT Bk     CRISIL BB-     144.4   -
                                      Loan Fac
Bansal Educational Trust              Overdraft Fac      CRISIL B+      5       Suspended
Bansal Educational Trust              Rupee TL           CRISIL B+      79.9    Suspended
Bimla Maru Fashions Pvt Ltd           CC                 CRISIL BB+     180     Downgraded
                                                                                from CRISIL
                                                                                BBB-
Calico Trends                         Export Packing     CRISIL BBB+    90      Reaffirmed
                                      Credit $
Calico Trends                         Foreign Bill       CRISIL BBB+    40      Reaffirmed
                                      Purchase $
Calico Trends                         Proposed LT Bk     CRISIL BBB+    50      Reaffirmed
                                      Loan Fac
Calico Trends                         Standby Line of    CRISIL BBB+    20      Reaffirmed
                                      Credit
Dr.Shaji`s MRI & Medical Research     LT Loan            CRISIL B       55      Upgraded from
Centre Pvt Ltd                                                                  CRISIL D
Dr.Shaji`s MRI & Medical Research     Proposed LT Bk     CRISIL B       10.8    Upgraded from
Centre Pvt Ltd                        Loan Fac                                  CRISIL D
ETC Agro Processing (India) Pvt Ltd   Proposed LT Bk     CRISIL BB-     100     Downgraded
                                      Loan Fac                                  from CRISIL BB
ETC Agro Processing (India) Pvt Ltd   TL                 CRISIL BB-     200     Downgraded
                                                                                from CRISIL BB
Gyan Sagar Foundation                 TL                 CRISIL BB      750     Reaffirmed
ITFT Consultancy Pvt Ltd              TL                 CRISIL B       47.9    Upgraded from
                                                                                CRISIL D
ITFT Consultancy Pvt Ltd              Proposed LT Bk     CRISIL B       71.4    Upgraded from
                                      loan Fac                                  CRISIL D
Jai Dada Infrastructure Pvt Ltd       CC                 CRISIL D       30      Suspended
Jai Dada Infrastructure Pvt Ltd       LT Loan            CRISIL D       132     Suspended
Jai Dada Movers Pvt Ltd               CC                 CRISIL D       10      Suspended
Jai Dada Movers Pvt Ltd               Rupee TL           CRISIL D       120.5   Suspended
Jai Venktesh Concast Pvt Ltd          CC                 CRISIL B       110     Reaffirmed
Jai Venktesh Concast Pvt Ltd          TL                 CRISIL B       62.9    Reaffirmed
Jaidada Paribahan Pvt Ltd             CC                 CRISIL D       35      Suspended
Jaidada Paribahan Pvt Ltd             TL                 CRISIL D       135     Suspended
Jalan Transolutions (India) Ltd       CC                 CRISIL B+      90      Reaffirmed
Jalan Transolutions (India) Ltd       TL                 CRISIL B+      130     Reaffirmed
Jash Engineering Ltd                  CC*                CRISIL BBB     220     Downgraded
                                                                                from CRISIL
                                                                                BBB+
* Includes sublimit of Export Packing Credit to the extent of Rs. 100 Million and Foreign Bill
Purchase to the extent of Rs 45 Million
Jash Engineering Ltd                  Standby LOC        CRISIL BBB     50      Downgraded
                                                                                from CRISIL
                                                                                BBB+
Jash Engineering Ltd                  TL                 CRISIL BBB     30      Downgraded
                                                                                from CRISIL
                                                                                BBB+
Kanoria Chembond Pvt Ltd              CC                 CRISIL B+      52.5    Reaffirmed
Kohinoor Feeds & Fats Ltd             CC                 CRISIL BB-     198.5   Placed on
                                                                                Notice of
                                                                                Withdrawal
L&T-Valdel Engineering Ltd            Proposed CC Limit  CRISIL AA+     40      Reaffirmed
L&T-Valdel Engineering Ltd            CC                 CRISIL AA+     10      Reaffirmed
L&T-Valdel Engineering Ltd            Proposed TL        CRISIL AA+     20      Reaffirmed
Larsen & Toubro Infotech Ltd          CC^                CRISIL AA+     200     Reaffirmed
^Interchangeable with working capital demand loan
Larsen & Toubro Infotech Ltd          Proposed CC Limit^ CRISIL AA+     300     Reaffirmed
^Interchangeable with working capital demand loan
Madan's Wine Stores Pvt Ltd           CC                 CRISIL B+      150     Suspended
Madura Coats Pvt Ltd                  CC                 CRISIL AA-     250^    Reaffirmed
^ Interchangeable with other fund-based limits
Mahindra Composites Ltd               CC                 CRISIL BBB+    55      #
Mahindra Composites Ltd               CC*                CRISIL BBB+    30      #
*Fully interchangeable with post-shipment credit
Mahindra Gears & Transmissions Pvt LtdCC#                CRISIL A+      300     #               
                                                                
# interchangeable with letter of credit to the extent of Rs.60 Million
Mahindra Gears & Transmissions Pvt LtdProposed LT Bk     CRISIL A+      162.8   #
                                      Loan Fac                                  
Mahindra Gears & Transmissions Pvt LtdRupee TL           CRISIL A+      377.2   #
Mantra Industries Ltd                 CC*                CRISIL BB      214.5   Reaffirmed
*Cash Credit includes sub-limit of Letter of Credit of Rs.132.5 Million
Mantra Industries Ltd                 Proposed LT Bk     CRISIL BB      467.8   Reaffirmed
                                      Loan Fac
Mantra Industries Ltd                 Rupee TL           CRISIL BB      36.3    Reaffirmed
MG Housing Pvt Ltd                    Proposed LT Bk     CRISIL B+      300     Assigned
                                      Loan Fac
MG Housing Pvt Ltd                    TL                 CRISIL B+      300     Assigned
Nitta Gelatin India Ltd               CC                 CRISIL A-      50      Reaffirmed
Nitta Gelatin India Ltd               Proposed LT Bk     CRISIL A-      78      Reaffirmed
                                      Loan Fac
Pal Stone Industries Ltd              CC                 CRISIL BBB-    110     Reaffirmed
Pal Stone Industries Ltd              TL                 CRISIL BBB-    10      Reaffirmed
R. P. Metal Sections Pvt Ltd          Proposed LT Bk     CRISIL BB      68.7    Upgraded from
                                      Loan Fac                                  CRISIL B+
R. P. Metal Sections Pvt Ltd          CC                 CRISIL BB      120     Upgraded from
                                                                                CRISIL B+
Ramesh Steel Industries               CC                 CRISIL BB-     120     Assigned
Ramesh Steel Industries               LT Loan            CRISIL BB-     15      Assigned
Raunaq Ice & Cold Storage             TL                 CRISIL B-      15      Suspended
Ravian Life Science Pvt Ltd           CC                 CRISIL BB-     25      Reaffirmed
Ravian Life Science Pvt Ltd           Proposed LT Bk     CRISIL BB-     5       Reaffirmed
                                      Loan Fac
Ravian Life Science Pvt Ltd           TL                 CRISIL BB-     35      Reaffirmed
Shabari International                 Proposed LT Bk     CRISIL BB      28.1    Reaffirmed
                                      Loan Fac
Shabari International                 TL                 CRISIL BB      5       Reaffirmed
Sheth & Sura Engineers Pvt Ltd        CC                 CRISIL BBB-    160     Reaffirmed
Sheth & Sura Engineers Pvt Ltd        Standby Line of    CRISIL BBB-    10      Reaffirmed
                                      Credit
Sheth & Sura Engineers Pvt Ltd        TL                 CRISIL BBB-    23      Reaffirmed
Shrey Software Pvt Ltd                Proposed LT Bk     CRISIL B       200     Assigned
                                      Loan Fac
Sree lakshmi Agencies                 CC                 CRISIL BB-     30      Reaffirmed
Sri Ramadas Motor Transport Ltd       CC                 CRISIL A-      295     Reaffirmed
Sri Ramadas Motor Transport Ltd       Overdraft Fac      CRISIL A-      5       Reaffirmed
Sri Ramadas Motor Transport Ltd       TL                 CRISIL A-      57.5    Reaffirmed
SRV Knit Tech Pvt Ltd                 CC                 CRISIL B       25      Reaffirmed
SRV Knit Tech Pvt Ltd                 LT Loan            CRISIL B       3       Reaffirmed
Stylish Precast Pvt Ltd               BG                 CRISIL D       7       Suspended
Stylish Precast Pvt Ltd               CC                 CRISIL D       51      Suspended
Stylish Precast Pvt Ltd               TL                 CRISIL D       90      Suspended
SunBorne Energy Gujarat One Pvt Ltd   TL                 CRISIL BBB     1360    Assigned
Suryalata Spinning Mills Ltd          CC                 CRISIL BBB-    150     Upgraded from
                                                                                CRISIL BB+
Suryalata Spinning Mills Ltd          LT Loan            CRISIL BBB-    765.9   Upgraded from
                                                                                CRISIL BB+
Suryalata Spinning Mills Ltd          Proposed CC Limit  CRISIL BBB-    35      Upgraded from
                                                                                CRISIL BB+
Suryalata Spinning Mills Ltd          Proposed Standby   CRISIL BBB-    16      Upgraded from
                                      Line of Credit                            CRISIL BB+
Suryalata Spinning Mills Ltd          Standby Line of    CRISIL BBB-    40      Upgraded from
                                      Credit                                    CRISIL BB+
The Arasan Aluminium Industries Pvt LtStandby Line of    CRISIL BB+     10      Assigned
                                      Credit
The Arasan Aluminium Industries Pvt LtProposed LT Bk     CRISIL BB+     12.9    Assigned
                                      Loan Fac
The Arasan Aluminium Industries Pvt LtLT Loan            CRISIL BB+     15.1    Assigned
The Arasan Aluminium Industries Pvt LtCC                 CRISIL BB+     90*     Assigned
* Includes a sub limit of Rs.80 million of Letter of Credit and Foreign Bill Discounting of
Rs.10 million and Export Packing Credit of Rs.15 million
Umesh Education Trust                 TL                 CRISIL D       180     Assigned
Westwell Iron & Steel Pvt Ltd         CC                 CRISIL B+      55      Downgraded
                                                                                from CRISIL
                                                                                BB-
Westwell Iron & Steel Pvt Ltd         Proposed LT Bk     CRISIL B+      95      Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                BB-
Zuha Leather Pvt Ltd                  CC                 CRISIL BB-     5       Reaffirmed
Zuha Leather Pvt Ltd                  TL                 CRISIL BB-     4.8     Reaffirmed
Zuha Leather Pvt Ltd                  Proposed LT Bk     CRISIL BB-     12.7    Reaffirmed
                                      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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