July 6, 2015 / 4:37 AM / 2 years ago

CRISIL ratings for Indian debt instruments-Jul 6

Jul 6 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of July 3, 2015.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Biswajanani Cold Storage Pvt Ltd      BG                 CRISIL A4      2       Reaffirmed
Carmel Cashews                        Packing Credit     CRISIL A4+     200     Reaffirmed
Geena Garments                        Foreign Bill       CRISIL A3      50      Reaffirmed
                                      Discounting
Geena Garments                        Standby Line of    CRISIL A3      20      Reaffirmed
                                      Credit
Indian Farmers Fertilisers Cop        LOC & BG **#       CRISIL A1+     60.7    Reaffirmed
Ltd
** Rs. 25.99 billion is Interchangeable with Buyers Credit
# Rs. 28.39 billion is Interchangeable with Buyers Credit
Indian Farmers Fertilisers Cop        Overdraft Fac      CRISIL A1+     84.32   Reaffirmed
Ltd
Indian Farmers Fertilisers Cop        Proposed ST Bk     CRISIL A1+     9.41    Reaffirmed
Ltd                                   Loan Fac
Indian Farmers Fertilisers Cop        ST Loan            CRISIL A1+     70.57   Reaffirmed
Ltd
Insecticides India Ltd                LOC                CRISIL A2+     1890    Reaffirmed
Insecticides India Ltd                Proposed NFBL      CRISIL A2+     1340    Reaffirmed
Jaiswal Battery Service               BG                 CRISIL A4+     75      Assigned
Kailas Cashew Exports                 Packing Credit     CRISIL A4+     340     Reaffirmed
M K Agrotech Pvt Ltd                  BG                 CRISIL A2      5       Upgraded from
                                                                                CRISIL A3+
M K Agrotech Pvt Ltd                  LOC                CRISIL A2      1500    Upgraded
                                                                                From CRISIL
                                                                                A3+
M.S Life Drug House Pvt Ltd           BG                 CRISIL A4+     13      Reaffirmed
Mehta API Pvt Ltd                     BG                 CRISIL A4+     5       Suspended
Mehta API Pvt Ltd                     Bill Pur-Dis Fac   CRISIL A4+     130     Suspended
Mehta API Pvt Ltd                     LOC                CRISIL A4+     300     Suspended
Mehta API Pvt Ltd                     Packing Credit     CRISIL A4+     100     Suspended
Navtej Infrastructure Pvt Ltd         BG                 CRISIL A4      85      Assigned
Nitin Castings Ltd                    LOC & BG           CRISIL A3      115     Reaffirmed
Penguin Apparels Pvt Ltd              BG                 CRISIL A3+     3       Reaffirmed
Penguin Apparels Pvt Ltd              Foreign Bill       CRISIL A3+     20      Reaffirmed
                                      Discounting
Penguin Apparels Pvt Ltd              LOC                CRISIL A3+     20      Reaffirmed
Poly Medicure Ltd                     BG                 CRISIL A1      90      Reaffirmed
Poly Medicure Ltd                     LOC                CRISIL A1      160     Reaffirmed
Premier Polyfilm Ltd                  LOC                CRISIL A3      80      Assigned
Priyanka Constructions (Baroda)       BG                 CRISIL A4      100     Reaffirmed
R A Kraft Paper Pvt Ltd               LOC                CRISIL A4+     50      Reaffirmed
Sakar Glazed Tiles Pvt Ltd            BG                 CRISIL A4+     25      Upgraded from
                                                                                CRISIL A4
Sakar Glazed Tiles Pvt Ltd            LOC                CRISIL A4+     20      Upgraded from
                                                                                CRISIL A4
Sree Haricharan Granite Exports India Export Packing     CRISIL A4      50      Reaffirmed
Pvt Ltd                               Credit
Sree Haricharan Granite Exports India LOC                CRISIL A4      5       Reaffirmed
Pvt Ltd
Star Wire India Engineering Ltd       BG                 CRISIL A3+     15      -
Star Wire India Engineering Ltd       Foreign Exchange   CRISIL A3+     16.7    -
                                      Forward
Star Wire India Engineering Ltd       LOC                CRISIL A3+     3       -
SVN Agro Refineries                   LOC                CRISIL A4      300     Reaffirmed
Vamshi Rubber Ltd                     BG *               CRISIL A4+     30      Downgraded
                                                                                from CRISIL A3
* Fully interchangeable with letter of credit.
Victus Dyeings                        Export Packing     CRISIL A3      140     Reaffirmed
                                      Credit *
* Export packing credit and foreign bill discounting are fully interchangeable 
Victus Dyeings                        Foreign Bill       CRISIL A3      50      Reaffirmed
                                      Discounting *
* Export packing credit and foreign bill discounting are fully interchangeable 
Vyanktesh Corrugators Pvt Ltd         LOC                CRISIL A4      32.5    Reaffirmed

LONG TERM RATINGS:
-------------------
Biswajanani Cold Storage Pvt Ltd      CC                 CRISIL B-      103.6   Reaffirmed
Biswajanani Cold Storage Pvt Ltd      Proposed LT Bk     CRISIL B-      7.7     Reaffirmed
                                      Loan Fac
Biswajanani Cold Storage Pvt Ltd      TL                 CRISIL B-      48.4    Reaffirmed
Biswajanani Cold Storage Pvt Ltd      WC Loan            CRISIL B-      13.3    Reaffirmed
Durgapur Chemicals Ltd                Proposed LT Bk     CRISIL D       2.1     Reaffirmed
                                      Loan Fac
Durgapur Chemicals Ltd                TL                 CRISIL D       407.9   Reaffirmed
Geena Garments                        Export Packing     CRISIL BBB-    130     Reaffirmed
                                      Credit
Geena Garments                        Proposed LT Bk     CRISIL BBB-    56.7    Reaffirmed
                                      Loan Fac
Geena Garments                        TL                 CRISIL BBB-    10.3    Reaffirmed
Indian Farmers Fertilisers Cop        CC *^              CRISIL AA-     55      Reaffirmed
Ltd
* Out of Rs. 13.5 billion of Indian Overseas Bank limit of Rs. 2000 Million, Rs. 4700 Million,
and Rs. 340 Million is earmarked to DBS Bank Ltd, Royal Bank of Scotland and New India Coop Bank
Ltd, Mumbai respectively ^ Out of Rs. 5 billion of Punjab National Bank limit of Rs.
2500 Million and Rs. 1100 Million is earmarked to Maharashtra State Cooperative Bank Limited and
West Bengal state cooperative bank limited respectively
Indus Educational and Charitable TrustOverdraft Fac      CRISIL B+      2.5     Upgraded from
                                                                                CRISIL B-
Indus Educational and Charitable TrustProposed LT Bk     CRISIL B+      20.5    Upgraded from
                                      Loan Fac                                  CRISIL B-
Indus Educational and Charitable TrustTL                 CRISIL B+      47      Upgraded from
                                                                                CRISIL B-
Insecticides India Ltd                CC                 CRISIL A       3080    Reaffirmed

Insecticides India Ltd                TL                 CRISIL A       190     Reaffirmed
Jaiswal Battery Service               CC                 CRISIL BB-     70      Assigned
K. K. Birla and Co.                   CC                 CRISIL BB      120     Assigned
Kailas Cashew Exports                 CC                 CRISIL BB-     10      Reaffirmed
Lakshmi Ranga Enterprises Pvt Ltd     CC                 CRISIL BB      77.5    Assigned
Lakshmi Ranga Enterprises Pvt Ltd     TL                 CRISIL BB      22.5    Assigned
Lakshmi Traders - Chennai             CC                 CRISIL BB      40      Assigned
Lakshmi Traders - Chennai             Proposed WC Fac    CRISIL BB      20      Assigned
M K Agrotech Pvt Ltd                  CC                 CRISIL BBB+    10      Upgraded from
                                                                                CRISIL BBB
M K Agrotech Pvt Ltd                  LT Loan            CRISIL BBB+    386.1   Upgraded from
                                                                                CRISIL BBB
M K Agrotech Pvt Ltd                  Proposed LT Bk     CRISIL BBB+    933.9   Upgraded from
                                      Loan Fac                                  CRISIL BBB
M.S Life Drug House Pvt Ltd           CC                 CRISIL BB+     150     Reaffirmed
Mehta and Sons                        CC                 CRISIL BB+     80      Reaffirmed
Mehta API Pvt Ltd                     CC                 CRISIL BB      20      Suspended
Mehta API Pvt Ltd                     LT Loan            CRISIL BB      95      Suspended
MPG Hotels and Infrastructure VenturesLease Rental       CRISIL BB      691.9   Downgraded
Pvt Ltd                               Discounting Loan                          from CRISIL
                                                                                BB+
MPG Hotels and Infrastructure VenturesProposed LT Bk     CRISIL BB      366.4   Downgraded
Pvt Ltd                               Loan Fac                                  from CRISIL
                                                                                BB+
Muthu Gold Housie                     CC                 CRISIL BB      50      Reaffirmed
Muthu Gold Housie                     CC *               CRISIL BB      170     Reaffirmed
* Sub limit of Rs.170 million for metal gold loan.
Muthu Gold Housie                     Proposed LT Bk     CRISIL BB      15.8    Reaffirmed
                                      Loan Fac
Muthu Gold Housie                     TL                 CRISIL BB      26.2    Reaffirmed
Navtej Infrastructure Pvt Ltd         Overdraft Fac      CRISIL B+      30      Assigned
Nitin Castings Ltd                    CC                 CRISIL BBB-    94      Reaffirmed
Penguin Apparels Pvt Ltd              Export Packing     CRISIL BBB     55      Reaffirmed
                                      Credit
Penguin Apparels Pvt Ltd              LT Loan            CRISIL BBB     73.7    Reaffirmed
Penguin Apparels Pvt Ltd              Proposed LT Bk     CRISIL BBB     13.7    Reaffirmed
                                      Loan Fac
Poly Medicure Ltd                     CC                 CRISIL A+      500     Reaffirmed
Poly Medicure Ltd                     Rupee TL           CRISIL A+      2.2     Reaffirmed
Poly Medicure Ltd                     TL                 CRISIL A+      602.1   Reaffirmed
Poly Medicure Ltd                     Standby Line of    CRISIL A+      60      Reaffirmed
                                      Credit
Premier Polyfilm Ltd                  TL                 CRISIL BBB-    99.8    Assigned
Premier Polyfilm Ltd                  Proposed LT Bk     CRISIL BBB-    150.2   Assigned
                                      Loan Fac
Premier Polyfilm Ltd                  CC                 CRISIL BBB-    50      Assigned
Print Tex India                       CC                 CRISIL BBB-    20      Reaffirmed
Print Tex India                       Proposed LT Bk     CRISIL BBB-    9.1     Reaffirmed
                                      Loan Fac
Print Tex India                       TL                 CRISIL BBB-    30.9    Reaffirmed
Priyanka Constructions (Baroda)       CC                 CRISIL B+      60      Upgraded from
                                                                                CRISIL B
Priyanka Constructions (Baroda)       Proposed LT Bk     CRISIL B+      40      Upgraded from
                                      Loan Fac                                  CRISIL B
Priyanka Constructions (Baroda)       Proposed TL        CRISIL B+      40      Upgraded from
                                                                                CRISIL B
R A Kraft Paper Pvt Ltd               Bill Discounting   CRISIL BB+     20      Upgraded from
                                                                                CRISIL BB
R A Kraft Paper Pvt Ltd               CC                 CRISIL BB+     90      Upgraded from
                                                                                CRISIL BB
Sakar Glazed Tiles Pvt Ltd            CC                 CRISIL BB      70      Upgraded from
                                                                                CRISIL B+
Sakar Glazed Tiles Pvt Ltd            Proposed LT Bk     CRISIL BB      14      Upgraded from
                                      Loan Fac                                  CRISIL B+
Sakar Glazed Tiles Pvt Ltd            TL                 CRISIL BB      206     Upgraded from
                                                                                CRISIL B+
Southern Health Foods Pvt Ltd         CC                 CRISIL BB-     80      Reaffirmed
Southern Health Foods Pvt Ltd         Proposed LT Bk     CRISIL BB-     12.6    Reaffirmed
                                      Loan Fac
Southern Health Foods Pvt Ltd         TL                 CRISIL BB-     57.4    Reaffirmed
Sree Haricharan Granite Exports India CC                 CRISIL B-      25      Upgraded from
Pvt Ltd                                                                         CRISIL C
Star Wire India Engineering Ltd       CC                 CRISIL BBB     15      -
Star Wire India Engineering Ltd       TL                 CRISIL BBB     240.9   -
Star Wire India Engineering Ltd       Proposed LT Bk     CRISIL BBB     19.4    -
                                      Loan Fac
SVN Agro Refineries                   CC                 CRISIL B       45      Reaffirmed
SVN Agro Refineries                   Proposed LT Bk     CRISIL B       5       Reaffirmed
                                      Loan Fac
Ultra Aluminium Pvt Ltd               CC                 CRISIL B       38      Assigned
Ultra Aluminium Pvt Ltd               LT Loan            CRISIL B       22      Assigned
Unison Pharmaceuticals - Himachal     CC                 CRISIL BB      105     Assigned
Pradesh
Unison Pharmaceuticals - Himachal     TL                 CRISIL BB      35      Assigned
Pradesh
Vamshi Rubber Ltd                     CC                 CRISIL BB+     150     Downgraded
                                                                                from CRISIL
                                                                                BBB-
Vamshi Rubber Ltd                     LT Loan            CRISIL BB+     30      Downgraded
                                                                                from CRISIL
                                                                                BBB-
Vamshi Rubber Ltd                     CC                 CRISIL BBB-    550     Reaffirmed
Victus Dyeings                        Proposed LT Bk     CRISIL BBB-    75.4    Reaffirmed
                                      Loan Fac
Victus Dyeings                        Standby Line of    CRISIL BBB-    20      Reaffirmed
                                      Credit
Victus Dyeings                        TL                 CRISIL BBB-    56      Reaffirmed
Vyanktesh Corrugators Pvt Ltd         CC                 CRISIL B       80      Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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