May 30, 2013 / 6:33 AM / in 4 years

CRISIL ratings for Indian debt instruments-May 30

May 30 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 29, 2013.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aero Club                             BG                 CRISIL A2      32.2    Reaffirmed
Aero Club                             Foreign LOC        CRISIL A2      73.5    Reaffirmed
Aero Club                             LOC                CRISIL A2      648     Reaffirmed
Dayal Fertilizers Pvt Ltd             BG                 CRISIL A3+     2.5     Reaffirmed
Dayal Fertilizers Pvt Ltd             LOC                CRISIL A3+     100     Reaffirmed
E Oriental Timbers                    Foreign LOC        CRISIL A4+     300     Assigned
Gaurishanker Bihani                   BG                 CRISIL A4      5       Suspended
Gaurishanker Bihani                   Bill Purchase      CRISIL A4      5       Suspended
                                      Discounting Fac
Global Infonet Distribution Pvt Ltd   LOC                CRISIL A2      430     Reaffirmed
Global Infonet Distribution Pvt Ltd   Proposed ST Bk     CRISIL A2      220     Reaffirmed
                                      Loan Fac
Hydrobaths Ramco Marketing Pvt Ltd    LOC                CRISIL A4      50      Suspended
Indrayani Ferrocast Pvt Ltd           BG                 CRISIL A3      50      Upgraded from
                                                                                CRISIL A4+
Indrayani Ferrocast Pvt Ltd           LOC                CRISIL A3      650     Upgraded from
                                                                                CRISIL A4+
Jayesh Industries Ltd                 BG                 CRISIL D       2       Downgraded
                                                                                from CRISIL
                                                                                A4+
Jayesh Industries Ltd                 LOC**              CRISIL D       45      Downgraded
                                                                                from CRISIL
                                                                                A4+
** Fully interchangeable with buyers' credit
Jayesh Industries Ltd                 Proposed ST Bk     CRISIL D       17.4    Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                A4+
Kasyap Sweetners Ltd                  LOC & BG           CRISIL A2+     50      Reaffirmed
Kaveri Gas Power Ltd                  LOC                CRISIL A3+     20      Downgraded
                                                                                from CRISIL A2
M X Systems International Pvt Ltd     BG*                CRISIL A4+     290     Upgraded from
                                                                                CRISIL A4
includes sublimit of Letter of credit Rs.50 Million
M. M. Ceramics and Ferro Alloys       LOC                CRISIL A4+     80      Suspended
Madhav Industrial Corporation         LOC                CRISIL A4+     450     Reaffirmed
Oriental Rubber Industries Ltd        BG                 CRISIL A3+     125     Reaffirmed
Oriental Rubber Industries Ltd        Foreign            CRISIL A3+     450     Reaffirmed
                                      Discounting Bill
                                      Purchase
Oriental Rubber Industries Ltd        Inland/Import LOC  CRISIL A3+     200     Reaffirmed
Oriental Rubber Industries Ltd        LOC                CRISIL A3+     375     Assigned
Oriental Rubber Industries Ltd        Pre Shipment CreditCRISIL A3+     200#    Assigned
#Sub limit of 100.0 Million Letter of Credit and Rs.200.0 Million Bill Discounting
Oriental Woods                        Proposed LOC       CRISIL A4+     70      Assigned
Oriental Woods                        Foreign LOC        CRISIL A4+     100     Assigned
P and S Shringar Pvt Ltd              LOC                CRISIL A4+     300     Suspended
Pro-Arc Welding and Cutting Systems PvBG                 CRISIL A4      35      Assigned
Ltd
Proteck Circuits and Systems Pvt Ltd  LOC                CRISIL A4+     137.4   Assigned
Proteck Circuits and Systems Pvt Ltd  BG                 CRISIL A4+     80      Assigned
Raka Oil Company                      BG                 CRISIL A4+     45      Assigned
Regal Plywood Industries Pvt Ltd      LOC                CRISIL A4+     100     Suspended
Sanjay Sales Pvt Ltd                  LOC                CRISIL A4+     110     Reaffirmed
Sanjvik Terminals Pvt Ltd             BG                 CRISIL A2      20      Assigned
Shree Nidhi Secure Print Pvt Ltd      BG                 CRISIL A4+     5       Assigned
Sky Diamonds                          Proposed ST Bk     CRISIL A4+     50      Assigned
                                      Loan Fac
Sky Diamonds                          Post Shipment      CRISIL A4+     38.5    Assigned
                                      Credit
Sky Diamonds                          LOC                CRISIL A4+     30      Assigned
Sky Diamonds                          Packing Credit     CRISIL A4+     31.5    Assigned
Sri Mahalakshmi Raw & Boiled Rice MillST Bk Fac          CRISIL A4      2.5     Assigned
Swami Palani Andavar Spinners (India) BG                 CRISIL A4+     15      Suspended
Pvt Ltd
Synergy Agri Products Pvt Ltd         BG                 CRISIL A4+     1       Suspended
Tej International Pvt Ltd             Export Packing     CRISIL A3+     290     Reaffirmed
                                      Credit @
@ includes Rs.200 million of sub limit of Foreign Bill Purchase (FBP).
Tej International Pvt Ltd             LOC                CRISIL A3+     20      Reaffirmed
Tej International Pvt Ltd             BG                 CRISIL A3+     10      Assigned

Trans Tech Turnkey Pvt Ltd            LOC & BG           CRISIL A3      1950    Downgraded
                                                                                from CRISIL
                                                                                A3+
Trans Tech Turnkey Pvt Ltd            Proposed ST Bk     CRISIL A3      100     Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                A3+
Uni-Tech Automation Pvt Ltd           LOC                CRISIL A4+     13      Assigned
United Rubber Industries (India) Pvt  BG                 CRISIL A4      5       Suspended
Ltd
United Rubber Industries (India) Pvt  LOC                CRISIL A4      30      Suspended
Ltd
United Rubber Industries (India) Pvt  Packing Credit     CRISIL A4      30      Suspended
Ltd
Vikrma Impex Pvt Ltd                  BG                 CRISIL A4+     10      Reaffirmed
Vikrma Impex Pvt Ltd                  LOC                CRISIL A4+     10      Reaffirmed
Vikrma Impex Pvt Ltd                  Packing Credit     CRISIL A4+     120     Reaffirmed
West Coast Frozen Foods Pvt Ltd       Packing Credit     CRISIL A4+     504     Reaffirmed

LONG TERM RATINGS:
-------------------
Aero Club                             CC                 CRISIL BBB+    205*    Reaffirmed
* Full interchangeability from cash credit to working capital demand loan up to the extent of
Rs.140 million and from working capital demand loan to cash credit up to the extent of Rs.270
million.
Aero Club                             Foreign Currency   CRISIL BBB+    1000    Reaffirmed
                                      Demand Loan
Aero Club                             Overdraft Fac      CRISIL BBB+    290     Reaffirmed

Aero Club                             TL                 CRISIL BBB+    300     Reaffirmed
Aero Club                             WC Demand Loan     CRISIL BBB+    995*    Reaffirmed
* Full interchangeability from cash credit to working capital demand loan up to the extent of
Rs.140 million and from working capital demand loan to cash credit up to the extent of Rs.270
million.
Aishwarya Infrastructure & Developers Overdraft Fac      CRISIL B+      100     Reaffirmed
Aniirudh Enterprises                  CC                 CRISIL D       46      Assigned
Aniirudh Enterprises                  TL                 CRISIL D       4       Assigned
Dayal Fertilizers Pvt Ltd             CC                 CRISIL BBB     120     Reaffirmed
Dayal Fertilizers Pvt Ltd             Proposed CC Limit  CRISIL BBB     7.5     Reaffirmed
E Oriental Timbers                    Proposed CC Limit  CRISIL BB-     10      Assigned
E Oriental Timbers                    CC                 CRISIL BB-     50      Assigned
Gaurishanker Bihani                   CC                 CRISIL B+      80      Suspended
Global Infonet Distribution Pvt Ltd   Buyer's Credit     CRISIL BBB+    900     Reaffirmed
                                      Limit
Global Infonet Distribution Pvt Ltd   CC                 CRISIL BBB+    350     Reaffirmed
Hydrobaths Ramco Marketing Pvt Ltd    CC                 CRISIL B+      92.5    Suspended
IFMR Capital MOSEC XIV                Series A1 PTCs     CRISIL AAA (SO)        Upgraded from
                                                                                CRISIL AA-
                                                                                (SO)
IFMR Capital MOSEC XIV                Series A2 PTCs     CRISIL AAA (SO)        Upgraded from
                                                                                CRISIL AA-
                                                                                (SO)
Indrayani Ferrocast Pvt Ltd           CC                 CRISIL BBB-    200     Upgraded from
                                                                                CRISIL BB+
Indrayani Ferrocast Pvt Ltd           Proposed LT Bk     CRISIL BBB-    100     Upgraded from
                                      Loan Fac                                  CRISIL BB+
Jayesh Industries Ltd                 CC*                CRISIL D       75      Downgraded
                                                                                from CRISIL BB
*Includes sub-limit of Rs.25.0 Million for Export Packing Credit
Jayesh Industries Ltd                 Standby Line of    CRISIL D       10      Downgraded
                                      Credit                                    from CRISIL BB

Kalyani Renewable Energy India Ltd    Proposed LT Bk     CRISIL D       145     Downgraded
                                      Loan Fac                                  from CRISIL B+
Kalyani Renewable Energy India Ltd    TL                 CRISIL D       555     Downgraded
                                                                                from CRISIL B+
Kasyap Sweetners Ltd                  TL                 CRISIL A-      450     Reaffirmed
Kasyap Sweetners Ltd                  CC*                CRISIL A-      430     Reaffirmed
*Includes a sublimit for Export Packing Credit of Rs.20 Million
Kasyap Sweetners Ltd                  CC                 CRISIL A-      70      Reaffirmed
Kaveri Gas Power Ltd                  CC                 CRISIL BBB     5       Downgraded
                                                                                from CRISIL
                                                                                BBB+
Kaveri Gas Power Ltd                  LT Loan            CRISIL BBB     120     Downgraded
                                                                                from CRISIL
                                                                                BBB+
Kaveri Gas Power Ltd                  Proposed LT Bk     CRISIL BBB     7.5     Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                BBB+
Kirtiman Agro Genetics Ltd            CC                 CRISIL BB      110     Suspended
Kirtiman Agro Genetics Ltd            TL                 CRISIL BB      25.1    Suspended
Land Mark Infra Developers            LT Loan            CRISIL B+      100     Assigned
M X Systems International Pvt Ltd     CC                 CRISIL BB-     90      Upgraded from
                                                                                CRISIL B+
M X Systems International Pvt Ltd     Proposed LT Bk     CRISIL BB-     5       Upgraded from
                                      Loan Fac                                  CRISIL B+
M. M. Ceramics and Ferro Alloys       CC                 CRISIL BB+     150     Suspended
Madhav Industrial Corporation         CC                 CRISIL BB+     50      Upgraded from
                                                                                CRISIL BB
Octant Industries Ltd                 CC                 CRISIL D       150     Downgraded
                                                                                from CRISIL
                                                                                BB-
Oriental Rubber Industries Ltd        CC                 CRISIL BBB     150&    Reaffirmed
&Interchangeable with packing credit
Oriental Rubber Industries Ltd        CC                 CRISIL BBB     320**   Reaffirmed
**Fully interchangeable with packing credit foreign currency- Foreign Discounting Bill
Negotiation/ Foreign Discounting Bill Purchase / Foreign Discounting
Oriental Rubber Industries Ltd        TL                 CRISIL BBB     120     Assigned
Oriental Woods                        CC                 CRISIL BB-     30      Assigned
P and S Shringar Pvt Ltd              CC                 CRISIL BB      450     Suspended
Pee Jay Imports Exports               Bill Discounting   CRISIL B       10      Assigned
Pee Jay Imports Exports               CC                 CRISIL B       75      Assigned
Pro-Arc Welding and Cutting Systems PvCC                 CRISIL B       20      Assigned
Ltd
Proteck Circuits and Systems Pvt Ltd  WC TL              CRISIL BB      13.7    Assigned
Proteck Circuits and Systems Pvt Ltd  LT Loan            CRISIL BB      189.7   Assigned
Proteck Circuits and Systems Pvt Ltd  CC                 CRISIL BB      147.6   Assigned
Proteck Circuits and Systems Pvt Ltd  Bill Discounting   CRISIL BB      17.5    Assigned
Purity Flexpack Ltd                   CC                 CRISIL BB      12.5    Reaffirmed
Purity Flexpack Ltd                   Export Packing     CRISIL BB      20      Reaffirmed
                                      Credit
Purity Flexpack Ltd                   LOC*               CRISIL BB      30      Reaffirmed
*Fully interchangeable with Cash Credit
Purity Flexpack Ltd                   Proposed LT Bk     CRISIL BB      3.3     Reaffirmed
                                      Loan Fac
Purity Flexpack Ltd                   TL                 CRISIL BB      9.9     Assigned
Radhadamodar Multipurpose Coldstorage TL                 CRISIL B       40.2    Assigned
Pvt Ltd
Raka Oil Company                      CC                 CRISIL BB      35      Assigned
Regal Plywood Industries Pvt Ltd      CC                 CRISIL BB-     20      Suspended
Saiyed Paper Mills Ltd                TL                 CRISIL BB-     11.4    Assigned
Saiyed Paper Mills Ltd                CC                 CRISIL BB-     60*     Assigned
*Sublimit of Rs.30 Millions of Buyer credit and letter of credit
Saiyed Paper Mills Ltd                Proposed LT Bk     CRISIL BB-     78.6    Assigned
                                      Loan Fac
Sanjay Sales Pvt Ltd                  CC                 CRISIL BB      130     Reaffirmed
Sanjay Sales Pvt Ltd                  LT Loan            CRISIL BB      10      Reaffirmed
Sanjay Sales Pvt Ltd                  Proposed LT Bk     CRISIL BB      35.2    Assigned
                                      Loan Fac
Sanjvik Terminals Pvt Ltd             TL                 CRISIL BBB+    250     Assigned
Shree Nidhi Secure Print Pvt Ltd      TL                 CRISIL BB      66      Assigned
Shree Nidhi Secure Print Pvt Ltd      Proposed CC Limit  CRISIL BB      9       Assigned
Shree Nidhi Secure Print Pvt Ltd      CC                 CRISIL BB      50      Assigned
Silver Springs Pleasure Resorts Pvt LtOverdraft Fac      CRISIL D       60      Assigned
Silver Springs Pleasure Resorts Pvt LtLease Rental       CRISIL D       92.4    Assigned
                                      Discounting Loan
Silver Springs Pleasure Resorts Pvt LtLT Loan            CRISIL D       88.5    Assigned
Sri Mahalakshmi Raw & Boiled Rice MillTL                 CRISIL B+      10      Assigned
Sri Mahalakshmi Raw & Boiled Rice MillCC                 CRISIL B+      40      Assigned
Sri Subramanya Sponge Iron Pvt Ltd    CC                 CRISIL D       39      Suspended
Sri Subramanya Sponge Iron Pvt Ltd    LT Loan            CRISIL D       122.5   Suspended
Swami Palani Andavar Spinners (India) CC                 CRISIL BB-     50      Suspended
Pvt Ltd
Swami Palani Andavar Spinners (India) LT Loan            CRISIL BB-     58.4    Suspended
Pvt Ltd
Synergy Agri Products Pvt Ltd         CC                 CRISIL BB-     42.5    Suspended
Synergy Agri Products Pvt Ltd         TL                 CRISIL BB-     26.5    Suspended
Tej International Pvt Ltd             Export Packing     CRISIL BBB     30      Reaffirmed
                                      Credit #
# includes Rs.30 million of sub limit of cash credit.
Trans Tech Turnkey Pvt Ltd            CC                 CRISIL BBB-    350     Reaffirmed
Trans Tech Turnkey Pvt Ltd            Proposed LT Bk     CRISIL BBB-    50      Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                BBB
Trans Tech Turnkey Pvt Ltd            TL                 CRISIL BBB-    50      Downgraded
                                                                                from CRISIL
                                                                                BBB
Uni-Tech Automation Pvt Ltd           TL                 CRISIL BB      152.2   Assigned
Uni-Tech Automation Pvt Ltd           Proposed LT Bk     CRISIL BB      44.8    Assigned
                                      Loan Fac
Uni-Tech Automation Pvt Ltd           CC                 CRISIL BB      100     Assigned
United Rubber Industries (India) Pvt  CC                 CRISIL B-      70      Suspended
Ltd
United Rubber Industries (India) Pvt  Rupee TL           CRISIL B-      30      Suspended
Ltd
West Coast Fine Foods (India) Pvt Ltd CC                 CRISIL BB+     150     Upgraded from
                                                                                CRISIL BB
West Coast Fine Foods (India) Pvt Ltd Proposed LT Bk     CRISIL BB+     90      Upgraded from
                                      Loan Fac                                  CRISIL BB
West Coast Frozen Foods Pvt Ltd       CC                 CRISIL BB+     40      Upgraded from
                                                                                CRISIL BB
Writer Lifestyle Pvt Ltd              Proposed LT Bk     CRISIL BB      340     Reaffirmed
                                      Loan Fac
Writer Lifestyle Pvt Ltd              TL                 CRISIL BB      960     Reaffirmed
Yarlagadda Agros Pvt Ltd              CC*                CRISIL B       50      Assigned
*Sublimit of export packaging credit for Rs.20 Million and Receivables for Rs.6.00 Million
Yeturu Bio-Tech Ltd                   Overdraft Fac      CRISIL D       25      Assigned
Yeturu Bio-Tech Ltd                   TL                 CRISIL D       67      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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