December 17, 2015 / 5:28 AM / 2 years ago

CRISIL ratings for Indian debt instruments-Dec 17

Dec 17 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 16, 2015.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Akshara Industries Ltd                  LOC                CRISIL A3      140     Reaffirmed
Ambica Alloys                           LOC                CRISIL A4+     25      Assigned
American International School - Chennai BG                 CRISIL A1+     10      Reaffirmed
American International School - Chennai Import Documentary CRISIL A1+     30      Reaffirmed
                                        Credit
American International School - Chennai Import Payment     CRISIL A1+     30      Reaffirmed
                                        Deferred Credit
Avtar and Company                       BG                 CRISIL A3      30      Reaffirmed
Bhupendra Steels Pvt Ltd                Bill Discounting   CRISIL A3      30      Reaffirmed
Bhupendra Steels Pvt Ltd                LOC                CRISIL A3      70      Reaffirmed
Bhupendra Steels Pvt Ltd                Pre Shipment Fac   CRISIL A3      20      Reaffirmed
BSL Castings Pvt Ltd                    Post Shipment      CRISIL A3      70      Reaffirmed
                                        Credit
Carrier Engineers Pvt Ltd               Packing Credit in  CRISIL A4+     30      Assigned
                                        Foreign Currency
Dhairya International                   BG                 CRISIL A4+     40      Assigned
Diwanka Energy Pvt Ltd                  LOC                CRISIL A4      15      Reaffirmed
DTDC Express Ltd                        BG                 CRISIL A1      30      Reaffirmed
DTDC Express Ltd                        LOC & BG           CRISIL A1      40      Reaffirmed
Enkay (India) Rubber Co. Pvt Ltd        Foreign LOC        CRISIL A3      10      Reaffirmed
Enkay (India) Rubber Co. Pvt Ltd        Packing Credit in  CRISIL A3      40      Reaffirmed
                                        Foreign Currency
Enkay (India) Rubber Co. Pvt Ltd        Pre Shipment Fac   CRISIL A3      15      Reaffirmed
Ginni International Ltd                 LOC & BG           CRISIL A2      77.5    Assigned
Ginni International Ltd                 Foreign Bill       CRISIL A2      140     Assigned
                                        Negotiation
Hariharan Foundations Pvt Ltd           BG                 CRISIL A3+     530     Reaffirmed
Hariharan Foundations Pvt Ltd           LOC                CRISIL A3+     25      Reaffirmed
Jaksons Developers Pvt Ltd              BG                 CRISIL A4+     97.7    Reaffirmed
Kajaria Iron and Steel Company Pvt Ltd  Pre Shipment       CRISIL A4      80      Assigned
                                        Packing Credit
Kajaria Iron and Steel Company Pvt Ltd  Post Shipment      CRISIL A4      50      Assigned
                                        Credit
Khurana Exports - Kanpur                Packing Credit     CRISIL A4      20      Assigned
Kitex Ltd                               Packing Credit     CRISIL A3      100     Reaffirmed
Krishna Constructions                   BG                 CRISIL A4+     50      Reaffirmed
Leader Valves Ltd                       LOC & BG           CRISIL A3+     150     Reaffirmed
Mahathi Infra Services Pvt Ltd          BG                 CRISIL A4+     250     Reaffirmed
Mahathi Infra Services Pvt Ltd          Proposed ST Bk     CRISIL A4+     100     Reaffirmed
                                        Loan Fac
Mahaveer Infraengineering Pvt Ltd       BG                 CRISIL A4      50      Reaffirmed
Mini Diamonds India Ltd                 Export Packing     CRISIL A4      60      Assigned
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
MIRC Electronics Ltd                    LOC & BG           CRISIL A4+     3250    Reaffirmed
MIRC Electronics Ltd                    Proposed LOC & BG  CRISIL A4+     2850    Reaffirmed
MIRC Electronics Ltd                    Proposed ST Bk     CRISIL A4+     1400    Reaffirmed
                                        Loan Fac
OSD Coke Pvt Ltd                        BG                 CRISIL A3      50      Reaffirmed
OSD Coke Pvt Ltd                        LOC                CRISIL A3      70      Reaffirmed
Pavani Controls and Panels Ltd          BG                 CRISIL A3+     370     Reaffirmed
Prestige Feed Mills Ltd                 BG                 CRISIL A3      5       Reaffirmed
Prestige Feed Mills Ltd                 LOC                CRISIL A3      47      Reaffirmed
Rachitech Engineering Pvt Ltd           BG                 CRISIL A4      20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Ram Sarup Murari Lal                    LOC                CRISIL A4      110     Reaffirmed
Shree Ram Shipping Industries Pvt Ltd   LOC                CRISIL A3      1000    Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Shri Bholanath Carpets Ltd              Packing Credit in  CRISIL A4+     75      Assigned
                                        Foreign Currency
Shri Bholanath Carpets Ltd              Post Shipment      CRISIL A4+     30      Assigned
                                        Credit
Shri Bholanath Industries Ltd           LOC                CRISIL A4+     80      Assigned
Shri Bholanath Industries Ltd           Packing Credit in  CRISIL A4+     50      Assigned
                                        Foreign Currency
SKG Refractories Ltd                    BG                 CRISIL A3      25      Reaffirmed
SKG Refractories Ltd                    LOC                CRISIL A3      30      Reaffirmed
Suprajit Engineering Ltd                BG                 CRISIL A1+     15      Reaffirmed
Suri Shoes Pvt Ltd                      BG                 CRISIL A4+     0.5     Reaffirmed
Suri Shoes Pvt Ltd                      Foreign Bill       CRISIL A4+     100     Reaffirmed
                                        Purchase
Suri Shoes Pvt Ltd                      LOC                CRISIL A4+     20      Reaffirmed
Suri Shoes Pvt Ltd                      Packing Credit     CRISIL A4+     80      Reaffirmed
The Bank of Nova Scotia                 CDs                CRISIL A1+     5000    Reaffirmed
Viceroy Exports India Pvt Ltd           Foreign            CRISIL A4      100     Reaffirmed
                                        Discounting Bill
                                        Purchase
Vinaykumar & Co.                        BG                 CRISIL A4+     40      Assigned


LONG TERM RATINGS:
-------------------
Aimil Pharmaceuticals India Ltd         CC                 CRISIL BB-     135     Upgraded from
                                                                                  CRISIL B+
Aimil Pharmaceuticals India Ltd         LT Loan            CRISIL BB-     40      Upgraded from
                                                                                  CRISIL B+
Aimil Pharmaceuticals India Ltd         Proposed LT Bk     CRISIL BB-     125     Assigned
                                        Loan Fac
Akshara Industries Ltd                  CC                 CRISIL BBB-    70      Reaffirmed
Akshara Industries Ltd                  Proposed LT Bk     CRISIL BBB-    0.5     Reaffirmed
                                        Loan Fac
Alembic Pharmaceuticals Ltd             CC & WC demand     CRISIL AA      3150    Reaffirmed
                                        loan^
^Fully interchangeable with packing credit in foreign currency, letter of credit,
 and bank guarantee    
Ambica Alloys                           CC                 CRISIL BB+     100     Assigned
American International School - Chennai Bill Purchase -    CRISIL A+      2.3     Reaffirmed
                                        Discounting Fac
American International School - Chennai Foreign Currency   CRISIL A+      283.8   Reaffirmed
                                        TL*
*USD 4.25 Million term loan converted to INR (based on the December 07, 
2015 exchange rate of Rs.66.77 per USD)
American International School - Chennai Overdraft Fac      CRISIL A+      10      Reaffirmed
American International School - Chennai Proposed TL        CRISIL A+      106.1   Reaffirmed
Avtar and Company                       CC                 CRISIL BBB-    50      Reaffirmed
Avtar and Company                       Proposed LT Bk     CRISIL BBB-    30      Reaffirmed
                                        Loan Fac
Avtar and Company                       Secured Overdraft  CRISIL BBB-    20      Assigned
                                        Fac
Bhupendra Steels Pvt Ltd                CC                 CRISIL BBB-    120     Reaffirmed
Bhupendra Steels Pvt Ltd                TL                 CRISIL BBB-    40      Reaffirmed
BSL Castings Pvt Ltd                    CC                 CRISIL BBB-    170     Reaffirmed
BSL Castings Pvt Ltd                    Proposed LT Bk     CRISIL BBB-    10      Reaffirmed
                                        Loan Fac
BSL Castings Pvt Ltd                    TL                 CRISIL BBB-    130     Reaffirmed
Carrier Engineers Pvt Ltd               Proposed LT Bk     CRISIL BB      73      Assigned
                                        Loan Fac
Carrier Engineers Pvt Ltd               CC                 CRISIL BB      15      Assigned
Carrier Engineers Pvt Ltd               LT Loan            CRISIL BB      7       Assigned
Dhairya International                   Foreign Bill       CRISIL BB-     110     Assigned
                                        Discounting
Diwanka Energy Pvt Ltd                  CC                 CRISIL B       70      Reaffirmed
DTDC Express Ltd                        CC                 CRISIL A-      260     Reaffirmed
Enkay (India) Rubber Co. Pvt Ltd        CC                 CRISIL BBB-    295     Reaffirmed
Enkay (India) Rubber Co. Pvt Ltd        Proposed FB Bk     CRISIL BBB-    10      Reaffirmed
                                        Limits
Enkay (India) Rubber Co. Pvt Ltd        TL                 CRISIL BBB-    60      Reaffirmed
GHSPL Jeypore Healthcare LLP            LT Loan            CRISIL B+      76.1    Assigned
GHSPL Jeypore Healthcare LLP            Proposed FB Bk     CRISIL B+      23.9    Assigned
                                        Limits
Ginni International Ltd                 Rupee TL           CRISIL BBB+    833.1   Assigned
Ginni International Ltd                 Foreign Currency TLCRISIL BBB+    109.4   Assigned
Ginni International Ltd                 CC*                CRISIL BBB+    1000    Assigned
*Fully interchangeable with Export Packing Credit Limit
GNB Motors Pvt Ltd                      CC                 CRISIL BB-     60      Reaffirmed
GNB Motors Pvt Ltd                      Channel Financing  CRISIL BB-     75      Reaffirmed
GNB Motors Pvt Ltd                      Proposed FB Bk     CRISIL BB-     21      Reaffirmed
                                        Limits
Hariharan Foundations Pvt Ltd           Overdraft Fac      CRISIL BBB     25      Reaffirmed
Healthware Pvt Ltd                      CC                 CRISIL BBB-    130     Reaffirmed
Healthware Pvt Ltd                      CC/ Overdraft Fac  CRISIL BBB-    50      Reaffirmed
Intec Capital Ltd                       Proposed LT Bk     CRISIL BBB     500     Assigned
                                        Loan Fac
Ishwarcharan Builders Pvt Ltd           Proposed LT Bk     CRISIL B-      140     Reaffirmed
                                        Loan Fac
Ishwarcharan Builders Pvt Ltd           TL                 CRISIL B-      160     Reaffirmed
Jaksons Developers Pvt Ltd              CC                 CRISIL BB      30      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Jaksons Developers Pvt Ltd              Proposed LT Bk     CRISIL BB      1466.5  Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Jaksons Developers Pvt Ltd              TL                 CRISIL BB      355.8   Downgraded
                                                                                  from CRISIL
                                                                                  BB+
JB Rolling Mills Ltd                    CC                 CRISIL BB+     125     Assigned
Kajaria Iron and Steel Company Pvt Ltd  CC                 CRISIL B       20      Assigned
Khurana Exports - Kanpur                Proposed LT Bk     CRISIL B+      70      Assigned
                                        Loan Fac
Khurana Exports - Kanpur                Foreign Bill       CRISIL B+      10      Assigned
                                        Discounting
Kitex Ltd                               CC                 CRISIL BBB-    550     Reaffirmed
Kitex Ltd                               LT Loan            CRISIL BBB-    60.7    Reaffirmed
Kitex Ltd                               Proposed LT Bk     CRISIL BBB-    11.6    Reaffirmed
                                        Loan Fac
Krishna Constructions                   CC                 CRISIL BB-     45      Reaffirmed
Krishna Constructions                   Proposed LT Bk     CRISIL BB-     15      Assigned
                                        Loan Fac
Leader Valves Ltd                       CC                 CRISIL BBB     120     Reaffirmed
M. M. Automobiles                       CC                 CRISIL D       35      Downgraded
                                                                                  from CRISIL B+
M. M. Automobiles                       Standby Line of    CRISIL D       5       Downgraded
                                        Credit                                    from CRISIL B+
Mahathi Infra Services Pvt Ltd          CC                 CRISIL BB-     100     Reaffirmed
Mahaveer Infraengineering Pvt Ltd       CC                 CRISIL B       100     Reaffirmed
Mahavir Dal Mills Pvt Ltd               CC                 CRISIL BB      130     Reaffirmed
Manappuram Finance Ltd                  CC                 CRISIL A+      8750    Reaffirmed
Manappuram Finance Ltd                  Proposed LT Bk     CRISIL A+      1750    Withdrawal
                                        Loan Fac
Manappuram Finance Ltd                  TL                 CRISIL A+      2500    Reaffirmed
Manappuram Finance Ltd                  WC Demand Loan     CRISIL A+      1000    Reaffirmed
Mini Diamonds India Ltd                 Proposed LT Bk     CRISIL B+      10      Assigned
                                        Loan Fac
Mini Diamonds India Ltd                 CC                 CRISIL B+      20      Assigned
MIRC Electronics Ltd                    CC                 CRISIL BB      1450    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
MIRC Electronics Ltd                    Proposed CC Limit  CRISIL BB      50      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
MIRC Electronics Ltd                    Proposed TL        CRISIL BB      1750    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Mukunda Dairy Products Pvt Ltd          CC                 CRISIL BB+     100     Assigned
Mukunda Dairy Products Pvt Ltd          LT Loan            CRISIL BB+     20      Assigned
Naveen Poultry Farms Pvt Ltd            CC                 CRISIL D       17      Downgraded
                                                                                  from CRISIL B
Naveen Poultry Farms Pvt Ltd            LT Loan            CRISIL D       40      Downgraded
                                                                                  from CRISIL B
OSD Coke Pvt Ltd                        CC                 CRISIL BBB-    30      Reaffirmed
OSD Coke Pvt Ltd                        Proposed FB Bk     CRISIL BBB-    205     Reaffirmed
                                        Limits
Paramount Blankets Pvt Ltd              CC                 CRISIL C       97.5    Reaffirmed
Paramount Blankets Pvt Ltd              LT Loan            CRISIL C       1.1     Reaffirmed
Paramount Blankets Pvt Ltd              Proposed LT Bk     CRISIL C       57.5    Reaffirmed
                                        Loan Fac
Pavani Controls and Panels Ltd          Overdraft Fac      CRISIL BBB     120     Reaffirmed
Prestige Feed Mills Ltd                 CC                 CRISIL BBB-    650     Reaffirmed
Prestige Feed Mills Ltd                 Proposed LT Bk     CRISIL BBB-    19      Reaffirmed
                                        Loan Fac
Rachitech Engineering Pvt Ltd           CC                 CRISIL B+      55      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Ram Sarup Murari Lal                    CC                 CRISIL B       17.5    Reaffirmed
S.R. Collection Pvt Ltd                 TL                 CRISIL B       75      Assigned
S.R. Collection Pvt Ltd                 CC                 CRISIL B       40      Assigned
S.R. Collection Pvt Ltd                 Proposed LT Bk     CRISIL B       3.5     Assigned
                                        Loan Fac
Sanstar Bio-Polymers Ltd                CC                 CRISIL BBB-    250     Reaffirmed
Shree Sharavana Traders                 Buyer Credit Limit CRISIL BB      100     Reaffirmed
Shree Sharavana Traders                 CC                 CRISIL BB      250     Reaffirmed
Shri Wardhman Academy for Technical     Overdraft Fac      CRISIL BB-     75      Downgraded
Education, Jabalpur                                                               from CRISIL BB
Shri Wardhman Academy for Technical     Proposed LT Bk     CRISIL BB-     11      Downgraded
Education, Jabalpur                     Loan Fac                                  from CRISIL BB
Shri Wardhman Academy for Technical     TL                 CRISIL BB-     24      Assigned
Education, Jabalpur
SKG Refractories Ltd                    CC                 CRISIL BBB-    92      Reaffirmed
SKG Refractories Ltd                    Proposed LT Bk     CRISIL BBB-    10.5    Reaffirmed
                                        Loan Fac
SKG Refractories Ltd                    Standby Line of    CRISIL BBB-    12.5    Reaffirmed
                                        Credit
Sri Nandha Educational Trust            Overdraft Fac      CRISIL BB+     100     Reaffirmed
Sri Nandha Educational Trust            Proposed LT Bk     CRISIL BB+     17      Reaffirmed
                                        Loan Fac
Sri Nandha Educational Trust            TL                 CRISIL BB+     147.7   Reaffirmed
Subramaniam Bottles LLP                 CC                 CRISIL B+      200     Assigned
Super Jewellers Pvt Ltd                 CC                 CRISIL B+      100     Assigned
Super Jewellers Pvt Ltd                 TL                 CRISIL B+      2       Assigned
Suprajit Engineering Ltd                CC                 CRISIL AA-     470     Reaffirmed
Suprajit Engineering Ltd                LT Loan            CRISIL AA-     925     Reaffirmed
Suprajit Engineering Ltd                Overdraft Fac      CRISIL AA-     150     Reaffirmed
Suprajit Engineering Ltd                Secured Overdraft  CRISIL AA-     150     Reaffirmed
                                        Fac
Suri Shoes Pvt Ltd                      Proposed LT Bk     CRISIL BB+     43.8    Reaffirmed
                                        Loan Fac
Suri Shoes Pvt Ltd                      Standby Line of    CRISIL BB+     35      Reaffirmed
                                        Credit
Synergy Green Industries Pvt Ltd        BG                 CRISIL D       10      Reaffirmed
Synergy Green Industries Pvt Ltd        CC                 CRISIL D       110     Reaffirmed
Synergy Green Industries Pvt Ltd        LOC                CRISIL D       40      Reaffirmed
Synergy Green Industries Pvt Ltd        Proposed LT Bk     CRISIL D       13.3    Reaffirmed
                                        Loan Fac
Synergy Green Industries Pvt Ltd        TL                 CRISIL D       356.7   Reaffirmed
The Singareni Collieries Co. Ltd        Corporate Credit   CCR AA-                Downgraded
                                        Rating                                    from CCR AA
Trimurti Jewellers                      CC                 CRISIL BB      100     Assigned
Viceroy Exports India Pvt Ltd           Packing Credit     CRISIL B+      100     Reaffirmed
Viceroy Exports India Pvt Ltd           Proposed LT Bk     CRISIL B+      50      Assigned
                                        Loan Fac
Vij Agro Exports Pvt Ltd                CC                 CRISIL B+      600     Upgraded from
                                                                                  CRISIL B
Vinaykumar & Co.                        Foreign Bill       CRISIL BB-     110     Assigned
                                        Discounting
VNR Homes Pvt Ltd                       LT Loan            CRISIL B-      8.4     Downgraded
                                                                                  from CRISIL B
VNR Homes Pvt Ltd                       Proposed LT Bk     CRISIL B-      80      Downgraded
                                        Loan Fac                                  from CRISIL B
VNR Homes Pvt Ltd                       Proposed WC Fac    CRISIL B-      61.6    Downgraded
                                                                                  from CRISIL B
--------------------------------------------------------------------------------------------
$: 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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