November 20, 2014 / 5:27 AM / 3 years ago

CRISIL ratings for Indian debt instruments-Nov 20

Nov 20 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 19, 2014.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A J Packaging Ltd                     LOC                CRISIL A4+     15      Reaffirmed
A J Packaging Ltd                     Vendor Financing   CRISIL A4+     10      Reaffirmed
Agrawal Metal Works Pvt Ltd           LOC                CRISIL A2      75      Notice of
                                                                                Withdrawal
Agrawal Metal Works Pvt Ltd           LOC & BG           CRISIL A2      190     Notice of
                                                                                Withdrawal
Anjali Hotels Pvt Ltd                 BG                 CRISIL A4+     20      Upgraded from
                                                                                CRISIL A4
Ashoka Buildcon Ltd                   CP                 CRISIL A1+     1000    Enhanced from
                                                                                Rs. 500
                                                                                Million
Ashoka Buildcon Ltd                   BG                 CRISIL A1+     14800   Reaffirmed
Ashoka Buildcon Ltd                   Proposed ST Bk     CRISIL A1+     11400   Reaffirmed
                                      Loan Fac
Bemco Hydraulics Ltd                  BG                 CRISIL A4      105     Upgraded from
                                                                                CRISIL D
Bemco Hydraulics Ltd                  LOC                CRISIL A4      40      Upgraded from
                                                                                CRISIL D
Bharat Seats Ltd                      BG                 CRISIL A3      15      Reaffirmed
Bharat Seats Ltd                      LOC                CRISIL A3      80      Reaffirmed
Cheema Boilers Ltd                    BG                 CRISIL A3      155     Reaffirmed
Cheema Boilers Ltd                    LOC                CRISIL A3      75      Reaffirmed
Coastal Packagers Pvt Ltd             Overdraft Fac      CRISIL A4+     2.5     Reaffirmed
Coastal Packagers Pvt Ltd             Post Shipment      CRISIL A4+     75      Reaffirmed
                                      Credit
Coastal Packagers Pvt Ltd             Pre Shipment CreditCRISIL A4+     40      Reaffirmed
Dakshin Exports                       Packing Credit in  CRISIL A4      162     Reaffirmed
                                      Foreign Currency
Edelweiss Commodities Services Ltd    STD                CRISIL A1+     30000   Enhanced from
                                                                                Rs.20.0
                                                                                Billion
Edelweiss Commodities Services Ltd    ST Bk Fac          CRISIL A1+     600     Reaffirmed
Edelweiss Commodities Services Ltd    Standby LOC        CRISIL A1+     1520    Assigned
Kaneriya Oil Industries               BG                 CRISIL A3      3       Reaffirmed
Krishnae Constructions                BG                 CRISIL A4+     40      Notice of
                                                                                Withdrawal
Md. Quiyamuddin Khan Engineers Pvt LtdBG                 CRISIL A4      65.3    Reaffirmed
Midaas Construction Company Pvt Ltd   Overdraft Fac      CRISIL A4+     38.5    Assigned
Midaas Construction Company Pvt Ltd   BG                 CRISIL A4+     10      Assigned
R1 International India Pvt Ltd        ST Loan            CRISIL A3      1000    Reaffirmed
Sinewave Generators Pvt Ltd           BG                 CRISIL A3      40      Assigned
Soundarya Decorators Pvt Ltd          BG*                CRISIL A4      300     Reaffirmed
*Includes Rs.80 Million sub limit for Letter of Credit
Sudarshan Extrusions Pvt Ltd          BG                 CRISIL A4+     4       Reaffirmed
Sudarshan Extrusions Pvt Ltd          LOC                CRISIL A4+     30      Reaffirmed
Sunshine Tiles Company Pvt Ltd        BG                 CRISIL A3+     90.3    Upgraded from
                                                                                CRISIL A3
Sunshine Tiles Company Pvt Ltd        LOC                CRISIL A3+     81.9    Upgraded from
                                                                                CRISIL A3
Supernova Engineers Ltd               BG                 CRISIL A3      200     Reaffirmed
Supernova Engineers Ltd               LOC                CRISIL A3      250     Reaffirmed
Western India Forgings Pvt Ltd        LOC                CRISIL A2+     300     Reaffirmed
Western India Forgings Pvt Ltd        Pre Shipment CreditCRISIL A2+     180     Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Housing Development Finance Corp      FD                 FAAA                   Reaffirmed
Ltd


LONG TERM RATINGS:
-------------------
A J Packaging Ltd                     CC                 CRISIL BB      40      Reaffirmed
A J Packaging Ltd                     TL                 CRISIL BB      25      Reaffirmed
Agrawal Metal Works Pvt Ltd           CC                 CRISIL BBB+    1260    Notice of
                                                                                Withdrawal
Agrawal Metal Works Pvt Ltd           TL                 CRISIL BBB+    120     Suspended
Anjali Hotels Pvt Ltd                 CC                 CRISIL BB-     65      Upgraded from
                                                                                CRISIL B-
Anjali Hotels Pvt Ltd                 Proposed LT Bk     CRISIL BB-     23.3    Upgraded from
                                      Loan Fac                                  CRISIL B-
Anjali Hotels Pvt Ltd                 TL                 CRISIL BB-     50.1    Assigned
Ashoka Buildcon Ltd                   NCD                CRISIL AA-     1500    Reaffirmed
Ashoka Buildcon Ltd                   CC                 CRISIL AA-     3500    Reaffirmed
Ashoka Buildcon Ltd                   Proposed LT Bk     CRISIL AA-     360     Reaffirmed
                                      Loan Fac
Bemco Hydraulics Ltd                  CC                 CRISIL B-      100     Upgraded from
                                                                                CRISIL D
Bemco Hydraulics Ltd                  Proposed LT Bk     CRISIL B-      85      Upgraded from
                                      Loan Fac                                  CRISIL D
Bemco Hydraulics Ltd                  TL                 CRISIL B-      20      Upgraded from
                                                                                CRISIL D
Bharat Seats Ltd                      CC                 CRISIL BBB-    102     Reaffirmed
Bharat Seats Ltd                      FCNR (B) LT Loan   CRISIL BBB-    582.9   Reaffirmed
Bharat Seats Ltd                      Proposed LT Bk     CRISIL BBB-    98.6    Reaffirmed
                                      Loan Fac
Bharat Seats Ltd                      TL                 CRISIL BBB-    160     Reaffirmed
Bharat Seats Ltd                      CC                 CRISIL BBB-    250     Assigned
Cheema Boilers Ltd                    CC                 CRISIL BBB-    258     Reaffirmed
Cheema Boilers Ltd                    Proposed LT Bk     CRISIL BBB-    124.5   Reaffirmed
                                      Loan Fac
Cheema Boilers Ltd                    TL                 CRISIL BBB-    40.4    Reaffirmed

City Max Hospital and Research Centre TL                 CRISIL D       80      Downgraded
                                                                                from CRISIL B
Coastal Packagers Pvt Ltd             WC TL              CRISIL BB      30      Assigned
Coastal Packagers Pvt Ltd             Proposed LT Bk     CRISIL BB      1.8     Assigned
                                      Loan Fac
Dakshin Exports                       LT Loan            CRISIL B+      13      Reaffirmed
Dayawati Bishwanath Traders Pvt Ltd   CC                 CRISIL BB      80      Reaffirmed
Dhaneswar Rath Institute of EngineerinTL                 CRISIL BBB-    250     Reaffirmed
and Management Studies
Edelweiss Commodities Services Ltd    PS                 CRISIL AA-     1050    Reaffirmed
Edelweiss Commodities Services Ltd    LT Bk Fac          CRISIL AA-     3250    Reaffirmed
Edelweiss Commodities Services Ltd    Overdraft Fac      CRISIL AA-     7000    Reaffirmed
Housing Development Finance Corp      ST Debt            CRISIL AAA     350000  Enhanced from
Ltd                                                                             Rs. 250
                                                                                Billion
Housing Development Finance Corp      NCD Issue          CRISIL AAA     250000  Reaffirmed
Ltd
Housing Development Finance Corp      Subordinated Debt  CRISIL AAA     20000   Reaffirmed
Ltd
Housing Development Finance Corp      NCD Issue          CRISIL AAA     250000  Reaffirmed
Ltd
Housing Development Finance Corp      NCDs               CRISIL AAA     1528680 Reaffirmed
Ltd
Housing Development Finance Corp      Bonds              CRISIL AAA     1008.5  Reaffirmed
Ltd
Housing Development Finance Corp      Subordinated Debt  CRISIL AAA     50000   Reaffirmed
Ltd
Indian Securities Ltd                 CC                 CRISIL BB+     210     Reaffirmed
Indian Securities Ltd                 TL                 CRISIL BB+     98      Reaffirmed
Jaika Motors Ltd                      CC                 CRISIL BB      350     Reaffirmed
Kaneriya Oil Industries               CC                 CRISIL BBB-    370     Reaffirmed
Krishnae Constructions                CC                 CRISIL BB      47.5    Withdrawal
Laxmi Cottex                          CC                 CRISIL B+      75      Reaffirmed
Lotus Greens Constructions Pvt Ltd    NCD                CRISIL BB- (SO)4500    Assigned
M.R.S. Leather Exports Pvt Ltd        CC                 CRISIL BB-     10      Reaffirmed
M.R.S. Leather Exports Pvt Ltd        Export Packing     CRISIL BB-     45      Reaffirmed
                                      Credit
M.R.S. Leather Exports Pvt Ltd        Standby Line of    CRISIL BB-     5       Reaffirmed
                                      Credit
Md. Quiyamuddin Khan Engineers Pvt LtdCC                 CRISIL B       84      Downgraded
                                                                                from CRISIL B+
Md. Quiyamuddin Khan Engineers Pvt LtdProposed LT Bk     CRISIL B       4.7     Downgraded
                                      Loan Fac                                  from CRISIL B+
Md. Quiyamuddin Khan Engineers Pvt LtdTL                 CRISIL B       11      Downgraded
                                                                                from CRISIL B+
Midaas Construction Company Pvt Ltd   Proposed LT Bk     CRISIL BB-     21.5    Assigned
                                      Loan Fac
Midaas Construction Company Pvt Ltd   CC                 CRISIL BB-     55      Assigned
Mithila Cars Pvt Ltd                  Inventory Funding  CRISIL BB-     300     Assigned
                                      Fac
Phalanx Labs Pvt Ltd                  CC                 CRISIL D       75      Downgraded
                                                                                from CRISIL B+
Phalanx Labs Pvt Ltd                  LOC & BG           CRISIL D       25      Downgraded
                                                                                from CRISIL B+
Phalanx Labs Pvt Ltd                  LT Loan            CRISIL D       315     Downgraded
                                                                                from CRISIL B+
Phalanx Labs Pvt Ltd                  Proposed LT Bk     CRISIL D       5       Assigned
                                      Loan Fac
Poorvi Housing Development Company PvtProposed TL        CRISIL B       100     Assigned
Ltd
PSR and Sons                          CC                 CRISIL BB+     200     Reaffirmed
PSR and Sons                          Proposed LT Bk     CRISIL BB+     50      Reaffirmed
                                      Loan Fac
PSR and Sons                          TL                 CRISIL BB+     30.7    Assigned
Raj Kumari and Ram Gobind Memorial    Proposed LT Bk     CRISIL B-      119     Assigned
Education Society                     Loan Fac
Raj Kumari and Ram Gobind Memorial    TL                 CRISIL B-      81      Assigned
Education Society
Rythu Mitra Fertilizers Pvt Ltd       CC                 CRISIL D       47.5    Reaffirmed
Rythu Mitra Fertilizers Pvt Ltd       LT Loan            CRISIL D       102.5   Reaffirmed
Shree Ganesh Rice Mill                CC                 CRISIL B       99      Reaffirmed
Shree Ganesh Rice Mill                Proposed LT Bk     CRISIL B       86      Reaffirmed
                                      Loan Fac
Sinewave Generators Pvt Ltd           CC                 CRISIL BBB-    40      Assigned
Sinewave Generators Pvt Ltd           Proposed LT Bk     CRISIL BBB-    18      Assigned
                                      Loan Fac
Skyline Prashasti                     Lease Rental       CRISIL BB-     350     Reaffirmed
                                      Discounting Loan
Skyline Prashasti                     Proposed LT Bk     CRISIL BB-     650     Reaffirmed
                                      Loan Fac
Soundarya Decorators Pvt Ltd          CC                 CRISIL B       75      Upgraded from
                                                                                CRISIL B-
Soundarya Decorators Pvt Ltd          Proposed LT Bk     CRISIL B       117.5   Upgraded from
                                      Loan Fac                                  CRISIL B-
Soundarya Decorators Pvt Ltd          WC Demand Loan     CRISIL B       7.5     Upgraded from
                                                                                CRISIL B-
Sudarshan Extrusions Pvt Ltd          CC                 CRISIL BB      55      Reaffirmed
Sudarshan Extrusions Pvt Ltd          TL                 CRISIL BB      3       Reaffirmed
Sunshine Tiles Company Pvt Ltd        CC                 CRISIL BBB     550     Upgraded from
                                                                                CRISIL BBB-
Sunshine Tiles Company Pvt Ltd        TL                 CRISIL BBB     372.3   Upgraded from
                                                                                CRISIL BBB-
Supernova Engineers Ltd               CC                 CRISIL BBB-    70      Reaffirmed
Supernova Engineers Ltd               TL                 CRISIL BBB-    10      Reaffirmed
Vaishno Rice Mills                    CC                 CRISIL B+      25      Assigned
Vaishno Rice Mills                    Warehouse Receipts CRISIL B+      100     Assigned
VSSN Kallur                           CC                 CRISIL B-      110     Assigned
Western India Forgings Pvt Ltd        CC                 CRISIL A-      570     Reaffirmed
Western India Forgings Pvt Ltd        TL                 CRISIL A-      40      Assigned

--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watchwith 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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