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CRISIL ratings for Indian debt instruments-Nov 8
November 8, 2012 / 5:22 AM / 5 years ago

CRISIL ratings for Indian debt instruments-Nov 8

Nov 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 7, 2012.

COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Best Deal Housing and Constructions Pvt BG                    CRISIL A4+   163     Assigned
Ltd
C. Dinesh & Co. Pvt Ltd                 Export Packing Credit CRISIL A4    165.6   Suspended
C. Dinesh & Co. Pvt Ltd                 Post Shipment Credit  CRISIL A4    184.4   Suspended
C. Dinesh & Co. Pvt Ltd                 Proposed ST Bk Loan   CRISIL A4    150     Suspended
                                        Fac
Carpet International                    Bill Purchase*        CRISIL A4+   40      Reaffirmed
*Interchangibillty of Rs.20 Million from PC to FDBP and vice versa
Carpet International                    Packing Credit*       CRISIL A4+   60      Reaffirmed
*Interchangibillty of Rs.20 Million from PC to FDBP and vice versa
Central U.P. Gas Ltd                    BG                    CRISIL A2+   180     Reaffirmed
Central U.P. Gas Ltd                    LOC                   CRISIL A2+   120     Reaffirmed
Chandrika Dairy Industries Pvt Ltd      BG                    CRISIL A4    5       Reaffirmed
Jiwanram Sheoduttrai Industries Pvt Ltd BG                    CRISIL A4+   2.5     Reaffirmed
Jiwanram Sheoduttrai Industries Pvt Ltd Foreign Bill          CRISIL A4+   150     Reaffirmed
                                        Discounting*
*One way inter changeability of Packing Credit Limit into Foreign Bill Discounting Limit
Jiwanram Sheoduttrai Industries Pvt Ltd LOC                   CRISIL A4+   10      Reaffirmed
Jiwanram Sheoduttrai Industries Pvt Ltd Packing Credit*       CRISIL A4+   130     Reaffirmed
*One way inter changeability of Packing Credit Limit into Foreign Bill Discounting Limit
Jiwanram Sheoduttrai Industries Pvt Ltd Proposed ST Bk Loan   CRISIL A4+   7.5     Reaffirmed
                                        Fac
JMT Auto Ltd                            BG                    CRISIL A3+   10      Reaffirmed
JMT Auto Ltd                            Bill Discounting      CRISIL A3+   10      Reaffirmed
JMT Auto Ltd                            LOC                   CRISIL A3+   200     Reaffirmed
KRIBHCO Shyam Fertilizers Ltd           LOC*                  CRISIL       950     Reaffirmed
                                                              A1+(SO)
*Of which, Rs.750 Million is interchangeable with bank guarantee
KRIBHCO Shyam Fertilizers Ltd           ST Loan               CRISIL       2500    Reaffirmed
                                                              A1+(SO)
Lagan Engineering Co. Ltd               LOC                   CRISIL A4+   5       Reaffirmed
Lagan Engineering Co. Ltd               BG                    CRISIL A4+   45      Reaffirmed
M and M Auto Industries Ltd             BG                    CRISIL A3    5       Suspended
M and M Auto Industries Ltd             LOC                   CRISIL A3    20      Suspended
Mirc Electronics Ltd                    CP                    CRISIL A2    250     Downgraded
                                                                                   from CRISIL
                                                                                   A2+
Mirc Electronics Ltd                    LOC & BG              CRISIL A2    6100    Downgraded
                                                                                   from CRISIL
                                                                                   A2+
Mirc Electronics Ltd                    ST Unsecured Loans    CRISIL A2    1400    Downgraded
                                                                                   from CRISIL
                                                                                   A2+
Pee Empro Exports Pvt Ltd               Export Packing Credit CRISIL A2    50      Suspended
Precision Camshafts Ltd                 LOC & BG              CRISIL A3    165     Reaffirmed
Precision Camshafts Ltd                 Packing Credit        CRISIL A3    470*    Reaffirmed
*Rs.350 Million interchangeable with Foreign Bill Purchase /Foreign Currency Bill Discounting
Priyanka Refineries Pvt Ltd             BG                    CRISIL A3+   10      Suspended
R. N. Dobariya                          BG                    CRISIL A3    250     Reaffirmed
R. N. Dobariya                          Proposed ST Bk Loan   CRISIL A3    150     Reaffirmed
                                        Fac
Ram Ratna International                 BG                    CRISIL A3    20      Reaffirmed
Ram Ratna International                 Bill                  CRISIL A3    150     Reaffirmed
                                        Purchase-Discounting
                                        Fac
Ram Ratna International                 Packing Credit        CRISIL A3    50      Reaffirmed
Sagar Industries and Distilleries Pvt   Inland/Import LOC     CRISIL A4    70      Assigned
Ltd
Saket Engineers Pvt Ltd                 BG                    CRISIL D     100     Downgraded
                                                                                   from CRISIL
                                                                                   A4
Siyaram Silk Mills Ltd                  BG                    CRISIL A1    33.3    Reaffirmed
Siyaram Silk Mills Ltd                  LOC                   CRISIL A1    65.7    Reaffirmed
Siyaram Silk Mills Ltd                  Packing Credit        CRISIL A1    170     Reaffirmed
SSVM Construction Pvt Ltd               BG                    CRISIL A4+   50      Reaffirmed
Standard Auto Agencies                  BG                    CRISIL A4+   10      Reaffirmed
Sunbeam Auto Pvt Ltd                    BG**                  CRISIL A1+   180     Reaffirmed
**Interchangeable with letter of credit
Sushruta Medical Aid and Research       BG                    CRISIL A3+   5       Suspended
Hospital
Sushruta Medical Aid and Research       LOC                   CRISIL A3+   2.5     Suspended
Hospital
V S Timbers Pvt Ltd                     LOC                   CRISIL A4+   152.5   Reaffirmed
V.S. Export & Import                    LOC                   CRISIL A4+   140     Reaffirmed
V.U.S. Timbers                          LOC                   CRISIL A4+   100     Reaffirmed
Vishwa Infrastructures and Services Pvt LOC & BG              CRISIL A4+   4737.8  Downgraded
Ltd                                                                                from CRISIL
                                                                                   A2
Viswaat Chemicals Ltd                   LOC                   CRISIL A3    150     Reaffirmed
Viswaat Chemicals Ltd                   BG                    CRISIL A3    10      Reaffirmed
Wadhwani Commodities Trading Pvt Ltd    LOC                   CRISIL A4    50#     Reaffirmed
#Fully interchangeable with buyer's credit

LONG TERM RATINGS:
-------------------
Chandrika Dairy Industries Pvt Ltd      CC                    CRISIL B+    80      Reaffirmed
Chandrika Dairy Industries Pvt Ltd      Proposed CC Limit     CRISIL B+    70      Reaffirmed
Chandrika Dairy Industries Pvt Ltd      Rupee TL              CRISIL B+    43.1    Reaffirmed
Chandrika Dairy Industries Pvt Ltd      Proposed LT Bk Loan   CRISIL B+    21.9    Reaffirmed
                                        Fac
Genesis Poweronics India Pvt Ltd        CC                    CRISIL D     40      Reaffirmed
Genesis Poweronics India Pvt Ltd        TL                    CRISIL D     59.9    Reaffirmed
Global PharmaTech Pvt Ltd               CC                    CRISIL C     23      Downgraded
                                                                                   from CRISIL
                                                                                   B
Global PharmaTech Pvt Ltd               LT Loan               CRISIL C     45      Downgraded
                                                                                   from CRISIL
                                                                                   B
Indo Global Education Foundation        Rupee TL              CRISIL BBB-  82.2    Suspended
JMT Auto Ltd                            CC                    CRISIL BBB   870@#   Reaffirmed
@WCDL is sublimit of CC to the extent of Rs.160 Million;
#Working Capital Demand Loan (WCDL)/Foreign Currency Non Residential (B) is sublimit of CC to
the extent of Rs.270 Million, Rs.50 Million one-way interchangeable from LC to CC
JMT Auto Ltd                            LOC                   CRISIL BBB   300* #  Reaffirmed
*100% interchangeable from Letter of Credit (LC) to Cash Credit (CC) to the extent of Rs.150
Million;
#Working Capital Demand Loan (WCDL)/Foreign Currency Non Residential (B) is sublimit of CC to
the extent of Rs.270 Million, Rs.50 Million one-way interchangeable from LC to CC
JMT Auto Ltd                            Proposed LT Bk Loan   CRISIL BBB   95      Reaffirmed
                                        Fac
JMT Auto Ltd                            Rupee TL              CRISIL BBB   240     Reaffirmed
JMT Auto Ltd                            TL                    CRISIL BBB   195     Reaffirmed
JMT Auto Ltd                            WC TL                 CRISIL BBB   80      Reaffirmed
KRIBHCO Shyam Fertilizers Ltd           CC & WC demand loan   CRISIL       1250    Reaffirmed
                                                              AA-(SO)
KRIBHCO Shyam Fertilizers Ltd           TL                    CRISIL       1500    Reaffirmed
                                                              AA-(SO)
Lagan Engineering Co. Ltd               CC*                   CRISIL BB-   55      Reaffirmed
*Export Packing Credit/Packing Credit/Foreign Bills Discounting of Rs.41.60 million is within
the Cash Credit Limit
Lagan Engineering Co. Ltd               TL                    CRISIL BB-   80      Reaffirmed
Lagan Engineering Co. Ltd               Proposed LT Bk Loan   CRISIL BB-   25.8    Reaffirmed
                                        Fac
M and M Auto Industries Ltd             CC                    CRISIL BBB-  108.7   Suspended
M and M Auto Industries Ltd             Proposed LT Bk Loan   CRISIL BBB-  74.5    Suspended
                                        Fac
M and M Auto Industries Ltd             TL                    CRISIL BBB-  91.8    Suspended
Malabar Business Centre Pvt Ltd         CC                    CRISIL BBB   55      Suspended
Malabar Jewels & Gems Pvt Ltd           CC                    CRISIL BBB   49.5    Suspended
Malabar Jewels & Gems Pvt Ltd           LT Loan               CRISIL BBB   0.3     Suspended
Maruti Nandan Plastic Pvt Ltd           CC                    CRISIL D     15      Assigned
Maruti Nandan Plastic Pvt Ltd           TL                    CRISIL D     44.5    Assigned
Mirc Electronics Ltd                    CC                    CRISIL BBB+  1500    Downgraded
                                                                                   from CRISIL
                                                                                   A-
Mirc Electronics Ltd                    LT Unsecured Loan     CRISIL BBB+  500     Downgraded
                                                                                   from CRISIL
                                                                                   A-
Mirc Electronics Ltd                    Proposed TL           CRISIL BBB+  1250    Downgraded
                                                                                   from CRISIL
                                                                                   A-
Monalisa Ceramics India Pvt Ltd         CC                    CRISIL B     70      Reaffirmed
Pan India Food Solutions Pvt Ltd        Rupee TL              CRISIL BBB-  132     Suspended
Precision Camshafts Ltd                 CC                    CRISIL BBB-  33.5    Reaffirmed
Precision Camshafts Ltd                 Foreign Currency TL   CRISIL BBB-  919.2   Reaffirmed
Precision Camshafts Ltd                 TL                    CRISIL BBB-  170     Reaffirmed
Priyanka Refineries Pvt Ltd             CC                    CRISIL BBB   140     Suspended
R. N. Dobariya                          Overdraft Fac         CRISIL BBB-  40      Reaffirmed
S.L.V. Steels and Alloys Pvt Ltd        CC                    CRISIL D     180     Reaffirmed
S.L.V. Steels and Alloys Pvt Ltd        LOC                   CRISIL D     60      Reaffirmed
S.L.V. Steels and Alloys Pvt Ltd        LT Loan               CRISIL D     198     Reaffirmed
Sagar Industries and Distilleries Pvt   TL                    CRISIL B     20      Assigned
Ltd
Sagar Industries and Distilleries Pvt   CC                    CRISIL B     100     Assigned
Ltd
Saket Engineers Pvt Ltd                 CC                    CRISIL D     60      Downgraded
                                                                                   from CRISIL
                                                                                   B-
Saket Engineers Pvt Ltd                 TL                    CRISIL D     660     Downgraded
                                                                                   from CRISIL
                                                                                   B-
Shalini Steels Pvt Ltd                  CC                    CRISIL BB-   100     Assigned
Shalini Steels Pvt Ltd                  TL                    CRISIL BB-   20      Assigned
Shanti Texknit Pvt Ltd                  CC                    CRISIL B+    150     Suspended
Shree Siddhivinayak Cotspin Pvt Ltd     CC                    CRISIL BBB-  120     Suspended
Shree Siddhivinayak Cotspin Pvt Ltd     TL                    CRISIL BBB-  130     Suspended
Siyaram Silk Mills Ltd                  CC                    CRISIL A     446.8   Reaffirmed
Siyaram Silk Mills Ltd                  LT Loan               CRISIL A     577.9   Reaffirmed
Siyaram Silk Mills Ltd                  LT Loan*              CRISIL A     700     Reaffirmed
*Lead Banker in Consortium Loan comprising Bank of Maharashtra, Oriental Bank of Commerce, and 
Axis Bank Ltd
Siyaram Silk Mills Ltd                  WC Demand Loan        CRISIL A     283.2   Reaffirmed
SSVM Construction Pvt Ltd               CC                    CRISIL BB-   20      Downgraded
                                                                                   from CRISIL
                                                                                   BB
Standard Auto Agencies                  CC                    CRISIL BB-   30      Reaffirmed
Standard Auto Agencies                  Inventory Funding Fac CRISIL BB-   170     Reaffirmed
Standard Auto Agencies                  LT Loan               CRISIL BB-   30      Reaffirmed
Sunbeam Auto Pvt Ltd                    CC*                   CRISIL AA-   650     Reaffirmed
*Interchangeable with packing credit foreign currency loan
Sushruta Medical Aid and Research       CC                    CRISIL BBB   4       Suspended
Hospital
Sushruta Medical Aid and Research       LT Loan               CRISIL BBB   85      Suspended
Hospital
Syndicate Jewellers                     CC                    CRISIL BB-   150     Reaffirmed
Syndicate Jewellers Pvt Ltd             CC                    CRISIL BB-   430     Reaffirmed
TNR Constructions                       Rupee TL              CRISIL B-    60      Upgraded
                                                                                   from CRISIL
                                                                                   D
V S Timbers Pvt Ltd                     CC                    CRISIL BB-   15      Reaffirmed
V.S. Export & Import                    CC                    CRISIL BB-   10      Reaffirmed
V.U.S. Timbers                          CC                    CRISIL BB-   2.5     Reaffirmed
Vijaykiran Educational Trust            LT Loan               CRISIL B+    160     Reaffirmed
Vishwa Infrastructures and Services Pvt CC                    CRISIL BB    1262.2  Downgraded
Ltd                                                                                from CRISIL
                                                                                   BBB+
Vishwa Infrastructures and Services Pvt TL                    CRISIL BB    267.8   Downgraded
Ltd                                                                                from CRISIL
                                                                                   BBB+
Viswaat Chemicals Ltd                   CC                    CRISIL BBB-  225     Reaffirmed
Viswaat Chemicals Ltd                   TL                    CRISIL BBB-  90.8    Reaffirmed
Wadhwani Commodities Trading Pvt Ltd    CC                    CRISIL B     60*     Reaffirmed
*Interchangeable with bank guarantee of Rs.20.0 Million

--------------------------------------------------------------------------------------------
$: 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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