September 11, 2013 / 5:53 AM / 4 years ago

CRISIL ratings for Indian debt instruments-Sep 11

Sep 11 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of September 10, 2013.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                       (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Afflatus International                Bill Discounting   CRISIL A4+     180     Reaffirmed
Afflatus International                Packing Credit     CRISIL A4+     110     Reaffirmed
Aggarwwal Exports                     Bill Discounting   CRISIL A4+     40      Reaffirmed
Aggarwwal Exports                     Proposed ST Bk     CRISIL A4+     1.2     Reaffirmed
                                      Loan Fac
Ambey Construction Co                 BG                 CRISIL D       40      Downgraded
                                                                                from CRISIL A4
Bhumi Yarn Pvt Ltd                    BG                 CRISIL A4+     8       Reaffirmed
Brass Copper & Alloy (India) Ltd      BG                 CRISIL A3      1       Reaffirmed
Brass Copper & Alloy (India) Ltd      Foreign Bill       CRISIL A3      60      Reaffirmed
                                      Purchase
Brass Copper & Alloy (India) Ltd      LOC*               CRISIL A3      10      Reaffirmed
* fully interchangable with Buyer Credit
Brass Copper & Alloy (India) Ltd      Packing Credit     CRISIL A3      35      Reaffirmed
Deccan Mechanical and Chemical        BG                 CRISIL A2+     120     Reaffirmed
Industries Pvt Ltd
Deccan Mechanical and Chemical        LOC                CRISIL A2+     15      Reaffirmed
Industries Pvt Ltd
Deccan Mechanical and Chemical        Proposed BG        CRISIL A2+     130     Reaffirmed
Industries Pvt Ltd
Deccan Mechanical and Chemical        Proposed ST Bk     CRISIL A2+     345     Reaffirmed
Industries Pvt Ltd                    Loan Fac
F. T. Textiles Pvt Ltd                BG                 CRISIL A4      3       Assigned
Ghatge Patil Industries Ltd           BG                 CRISIL A4+     70      Reaffirmed
Ghatge Patil Industries Ltd           Bill Discounting   CRISIL A4+     30      Reaffirmed
Ghatge Patil Industries Ltd           LOC                CRISIL A4+     70      Reaffirmed
Ghatge Patil Industries Ltd           Post Shipment      CRISIL A4+     450     Reaffirmed
                                      Credit
Ghatge Patil Industries Ltd           Pre Shipment       CRISIL A4+     150     Reaffirmed
                                      Packing Credit
GKC Projects Ltd                      BG*                CRISIL A2      13625   Downgraded
                                                                                from CRISIL
                                                                                A2+
* Includes LC sub limit of Rs.1400 Million
IDMC Ltd                              LOC & BG           CRISIL A1      1410    Reaffirmed
Laser Cables Pvt Ltd                  BG                 CRISIL A3+     100     Reaffirmed
Laser Cables Pvt Ltd                  Bill Discounting   CRISIL A3+     160     Reaffirmed
Laser Cables Pvt Ltd                  LOC                CRISIL A3+     187     Reaffirmed
Lumino Industries Ltd                 BG                 CRISIL A3+     2150    Reaffirmed
Lumino Industries Ltd                 Bill Discounting   CRISIL A3+     394.7   Reaffirmed
Lumino Industries Ltd                 LOC                CRISIL A3+     450     Reaffirmed
Madras Engineering Industries Pvt Ltd BG                 CRISIL A3      11      Downgraded
                                                                                from CRISIL
                                                                                A3+
Madras Engineering Industries Pvt Ltd LOC                CRISIL A3      15      Downgraded
                                                                                from CRISIL
                                                                                A3+
Madras Engineering Industries Pvt Ltd Pre Shipment       CRISIL A3      100     Downgraded
                                      Packing Credit#                           from CRISIL
                                                                                A3+
# Includes sublimit of Rs.100 million for export invoice financing, Rs.100 million for import
invoice financing, Rs.50 million for bonds and guarantees, Rs.30 million for overdraft, Rs.50
million for short-term loans, and Rs.100 million for import letter of credit and USD1.95 million
for financial guarantee /standby letter of credit (SBLC) (Trade) 
Madras Engineering Industries Pvt Ltd Supplier Line of   CRISIL A3      10      Downgraded
                                      Credit                                    from CRISIL
                                                                                A3+
MOC Dies & Moulds                     BG                 CRISIL A4      1.1     Upgraded from
                                                                                CRISIL D
Prasad and Company (Project Works) LtdBG                 CRISIL A3+     2150    Downgraded
                                                                                from CRISIL A2
Prasad and Company (Project Works) LtdBG*                CRISIL A3+     4200    Downgraded
                                                                                from CRISIL A2
* Includes Rs.300.00 million interchangeable with letter of credit.
Prasad and Company (Project Works) LtdStandby Line of    CRISIL A3+     100     Downgraded
                                      Credit                                    from
Prasad and Company (Project Works) LtdST Loan            CRISIL A3+     150     Downgraded
                                                                                from
Priyadarshini Sahakari Soot Girni Ltd BG                 CRISIL A4      20      Reaffirmed
Promas Engineers Pvt Ltd              Letter of GuaranteeCRISIL A4      10      Assigned
Reliance Jute Mills                   LOC                CRISIL A4+     45      Reaffirmed
Reliance Jute Mills                   Packing Credit     CRISIL A4+     60      Reaffirmed
Reliance Jute Mills                   Foreign Bill       CRISIL A4+     40      Reaffirmed
                                      Purchase
Reliance Jute Mills                   BG                 CRISIL A4+     35      Reaffirmed
Sainik Mining and Allied Services Ltd BG*                CRISIL A3+     2050    Downgraded
                                                                                from CRISIL
                                                                                A2+
*Including sub-limit of letter of credit of Rs.100 Million
Sainik Mining and Allied Services Ltd Bill Discounting   CRISIL A3+     200     Downgraded
                                                                                from CRISIL
                                                                                A2+
Sigma Chemtrade Pvt Ltd               LOC & BG*          CRISIL A4+     130     Assigned
* Fully interchangeable
Silvertoss Industries Pvt. Ltd        LOC                CRISIL A3      320     Reaffirmed
Sunrise Industries                    BG                 CRISIL A4+     5       Assigned
Tirumala Agri Tech Pvt Ltd            LOC                CRISIL A4      27      Downgraded
                                                                                from CRISIL
                                                                                A4+
UltraTech Cement Ltd's                Buyer Credit Limit CRISIL A1+     500.5   Reaffirmed
UltraTech Cement Ltd's                BG*                CRISIL A1+     3750    Reaffirmed
* Consortium led by State bank of India.
UltraTech Cement Ltd's                LOC*               CRISIL A1+     8750    Reaffirmed
* Consortium led by State bank of India.
UltraTech Cement Ltd's                Proposed ST Bk     CRISIL A1+     102.2   Reaffirmed
                                      Loan Fac
UltraTech Cement Ltd's                ST Debt (Including CRISIL A1+     4000    Reaffirmed
                                      CP Programme)
Yatin Steels India Pvt Ltd            Overdraft*         CRISIL A4+     355     Reaffirmed
*Sublimits of letter of credit.
Yatin Steels India Pvt Ltd            LOC                CRISIL A4+     2495    Reaffirmed
Yatin Steels India Pvt Ltd            Proposed ST Bk     CRISIL A4+     305     Reaffirmed
                                      Loan Fac

LONG TERM RATINGS:
-------------------
Aggarwwal Exports                     CC                 CRISIL BB-     5       Reaffirmed
Aggarwwal Exports                     Export Packing     CRISIL BB-     65      Reaffirmed
                                      Credit
Ambey Construction Co                 CC                 CRISIL D       120     Downgraded
                                                                                from CRISIL B-
Ambey Construction Co                 Proposed CC Limit  CRISIL D       90      Downgraded
                                                                                from CRISIL B-
Bhumi Yarn Pvt Ltd                    CC*                CRISIL BB+     180     Reaffirmed
*includes sublimit of Rs.50.00 million each for Export Packing Credit and Export Bill
Discounting
Bhumi Yarn Pvt Ltd                    TL                 CRISIL BB+     92      Reaffirmed
BKR Hotels                            Proposed TL        CRISIL D       50      Downgraded
                                                                                from CRISIL B
BKR Hotels                            LT Loan            CRISIL D       150     Downgraded
                                                                                from CRISIL B
BKR Hotels & Resorts Pvt Ltd          TL                 CRISIL D       127.5   Downgraded
                                                                                from CRISIL B
BKR Hotels & Resorts Pvt Ltd          Proposed TL        CRISIL D       72.5    Downgraded
                                                                                from CRISIL B
Brass Copper & Alloy (India) Ltd      Overdraft Fac      CRISIL BBB-    5       Reaffirmed
Deccan Mechanical and Chemical        CC                 CRISIL BBB+    40      Reaffirmed
Industries Pvt Ltd
Devi Polymers Pvt Ltd                 Proposed WC Fac    CRISIL BBB+    80      Assigned
F. T. Textiles Pvt Ltd                CC                 CRISIL B+      49      Assigned
Ghatge Patil Industries Ltd           CC*                CRISIL BB      305     Reaffirmed
* Includes sublimit of Rs.80 Million for foreign currency denominated loan (FCDL)
Ghatge Patil Industries Ltd           Rupee TL           CRISIL BB      1070    Reaffirmed
Ghatge Patil Industries Ltd           TL                 CRISIL BB      1485.6  Reaffirmed
GKC Projects Ltd                      CC                 CRISIL BBB+    4637    Downgraded
                                                                                from CRISIL A-
GKC Projects Ltd                      Proposed LT Bk     CRISIL BBB+    4088    Downgraded
                                      Loan Fac                                  from CRISIL A-
Gupta & Sons (Motors) Pvt Ltd         CC                 CRISIL BB      70      Reaffirmed
Gupta & Sons (Motors) Pvt Ltd         CC                 CRISIL BB      70      Reaffirmed
IDMC Ltd                              Proposed Long      CRISIL A       300     Downgraded
                                      -Term Bk Loan Fac                         from CRISIL A+
IDMC Ltd                              TL                 CRISIL A       370     Downgraded
                                                                                from CRISIL A+
Integral Biosciences Pvt Ltd          CC                 CRISIL BB      10      Upgraded from
                                                                                CRISIL BB-
Integral Biosciences Pvt Ltd          TL                 CRISIL BB      90      Upgraded from
                                                                                CRISIL BB-
Integral Biosciences Pvt Ltd          Proposed TL        CRISIL BB      50      Upgraded from
                                                                                CRISIL BB-
J. Gala Enterprises                   Overdraft Fac      CRISIL BB-     100     Assigned
K G Cables Pvt Ltd                    CC                 CRISIL D       50      Downgraded
                                                                                from CRISIL B+
K G Cables Pvt Ltd                    LOC                CRISIL D       160     Downgraded
                                                                                from CRISIL A4
K G Cables Pvt Ltd                    TL                 CRISIL D       35      Downgraded
                                                                                from CRISIL B+
Kaushalya Roller Flour Mills Pvt Ltd  CC                 CRISIL B       97.5    Reaffirmed
Kaushalya Roller Flour Mills Pvt Ltd  Proposed LT Bk     CRISIL B       7.1     Reaffirmed
                                      Loan Fac
Kaushalya Roller Flour Mills Pvt Ltd  TL                 CRISIL B       4.2     Reaffirmed
Laser Cables Pvt Ltd                  CC                 CRISIL BBB     240     Reaffirmed
Lumino Industries Ltd                 CC                 CRISIL BBB     535.3   Reaffirmed
M. K. Stone                           CC                 CRISIL D       15      Assigned
M. K. Stone                           TL                 CRISIL D       59      Assigned
Madras Engineering Industries Pvt Ltd Buyer Credit Limit CRISIL BBB-    47      Downgraded
                                                                                from CRISIL
                                                                                BBB
Madras Engineering Industries Pvt Ltd CC*                CRISIL BBB-    230     Downgraded
                                                                                from CRISIL
                                                                                BBB
* Includes sublimit of Rs.120 million for inland bills discounting (IBD), Rs.30 million for
export packing credit (EPC), and Rs.40 million for foreign bill discounting (FBD). Also 100 per
cent two-way interchangeability between fund-based working capital (FBWC) limits permitted. 
Madras Engineering Industries Pvt Ltd LT Loan            CRISIL BBB-    723.7   Downgraded
                                                                                from CRISIL
                                                                                BBB
MOC Dies & Moulds                     CC                 CRISIL B       10      Upgraded from
                                                                                CRISIL D
MOC Dies & Moulds                     LT Loan            CRISIL B       25      Upgraded from
                                                                                CRISIL D
MOC Dies & Moulds                     Proposed CC Limit  CRISIL B       15      Upgraded from
                                                                                CRISIL D
MOC Dies & Moulds                     Proposed LT Bk     CRISIL B       147.4   Upgraded from
                                      Loan Fac                                  CRISIL D
MOC Dies & Moulds                     SME Credit         CRISIL B       1.5     Upgraded from
                                                                                CRISIL D
Narmada Solvex Pvt Ltd                CC                 CRISIL BB-     304.1   Upgraded from
                                                                                CRISIL B
Narmada Solvex Pvt Ltd                LT Loan            CRISIL BB-     13      Upgraded from
                                                                                CRISIL B
Narmada Solvex Pvt Ltd                CC                 CRISIL BB-     349.9   Upgraded from
                                                                                CRISIL B
Narmada Solvex Pvt Ltd                LT Loan            CRISIL BB-     13      Upgraded from
                                                                                CRISIL B
Narmada Solvex Pvt Ltd                Proposed LT Bk     CRISIL BB-     67.1    Upgraded from
                                      Loan Fac                                  CRISIL B
Prasad and Company (Project Works) LtdCC                 CRISIL BBB     750     Downgraded
                                                                                from CRISIL
                                                                                BBB+
Priyadarshini Sahakari Soot Girni Ltd CC                 CRISIL B-      100     Reaffirmed
Priyadarshini Sahakari Soot Girni Ltd LT Loan            CRISIL B-      310     Reaffirmed
Promas Engineers Pvt Ltd              CC                 CRISIL B+      60      Assigned
Rachna Metal Industries Pvt Ltd       CC*                CRISIL B       150     Reaffirmed
*Includes a sublimit for buyer's credit of Rs.65 million
Rachna Metal Industries Pvt Ltd       Proposed LT Bk     CRISIL B       62.7    Reaffirmed
                                      Loan Fac
Radhee Foods Pvt Ltd                  CC                 CRISIL B       105     Reaffirmed
Radhee Foods Pvt Ltd                  Proposed LT Bk     CRISIL B       5       Reaffirmed
                                      Loan Fac
Reliance Jute Mills                   LT Loan            CRISIL BB      60      Reaffirmed
Ruhatiya Cotton and Metal Pvt Ltd     CC*                CRISIL BB-     70      Upgraded from
                                                                                CRISIL B
* sublimit of Rs.13.5 Millions of Packing Credit and Rs.20 Millions of Bill discounting
Sainik Mining and Allied Services Ltd CC                 CRISIL BBB     380     Downgraded
                                                                                from CRISIL A-
Sainik Mining and Allied Services Ltd Foreign Currency TLCRISIL BBB     288     Downgraded
                                                                                from CRISIL A-
Sainik Mining and Allied Services Ltd Overdraft Fac      CRISIL BBB     50      Downgraded
                                                                                from CRISIL A-
Sainik Mining and Allied Services Ltd Proposed LT Bk     CRISIL BBB     1840    Downgraded
                                      Loan Fac                                  from CRISIL A-
Sainik Mining and Allied Services Ltd Proposed CC        CRISIL BBB     500     Downgraded
                                                                                from CRISIL A-
Sainik Mining and Allied Services Ltd TL**               CRISIL BBB     722     Downgraded
                                                                                from CRISIL A-
**Including sub-limit of buyers' credit of Rs.50 Million and letter of credit of Rs.150 Million
Sigma Chemtrade Pvt Ltd               CC                 CRISIL BB-     8.5     Assigned
Silvertoss Industries Pvt. Ltd        CC                 CRISIL BBB-    120     Reaffirmed
Silvertoss Industries Pvt. Ltd        TL                 CRISIL BBB-    7       Reaffirmed
Sunrise Industries                    Proposed LT Bk     CRISIL BB      5       Assigned
                                      Loan Fac
Sunrise Industries                    CC                 CRISIL BB      70      Assigned
Tirumala Agri Tech Pvt Ltd            CC                 CRISIL BB-     120     Reaffirmed
Tirumala Agri Tech Pvt Ltd            Proposed LT Bk     CRISIL BB-     18      Reaffirmed
                                      Loan Fac
Tradeline Enterprises Pvt. Ltd.       LT Loan            CRISIL D       163.6   Assigned
Tradeline Enterprises Pvt. Ltd.       Funded Interest TL CRISIL D       26.7    Assigned
Tradeline Enterprises Pvt. Ltd.       Export Performance CRISIL D       1.4     Assigned
                                      Guarantee
Tradeline Enterprises Pvt. Ltd.       Foreign Bill       CRISIL D       80      Assigned
                                      Negotiation
Tradeline Enterprises Pvt. Ltd.       Packing Credit*    CRISIL D       10      Assigned
* 100% interchangeable between Packing Credit & Open Cash Credit
Tradeline Enterprises Pvt. Ltd.       Packing Credit#    CRISIL D       10      Assigned
# 100% interchangeable between Packing Credit & Cash Credit
Tradeline Enterprises Pvt. Ltd.       WC TL              CRISIL D       56.3    Assigned
Tradeline Enterprises Pvt. Ltd.       Inland/Import LOC  CRISIL D       102     Assigned
UltraTech Cement Ltd's                External           CRISIL AAA     31534.3 Reaffirmed
                                      Commercial
                                      Borrowings
UltraTech Cement Ltd's                CC Limit*          CRISIL AAA     7500    Reaffirmed
* Consortium led by State bank of India.
UltraTech Cement Ltd's                Rupee TL           CRISIL AAA     4500    Reaffirmed
UltraTech Cement Ltd's                Proposed LT Bk     CRISIL AAA     6103    Reaffirmed
                                      Loan Fac
UltraTech Cement Ltd's                CC                 CRISIL BB      60      Reaffirmed
VKC Footprints Global Pvt Ltd         CC                 CRISIL BBB-    90      Reaffirmed
VKC Footprints Global Pvt Ltd         LT Loan            CRISIL BBB-    255     Reaffirmed
Yatin Steels India Pvt Ltd            CC*                CRISIL BB+     120     Reaffirmed
*Sublimits of letter of credit.
Zodiac Infrastructures Pvt Ltd        CC                 CRISIL B-      66      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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