October 5, 2016 / 7:56 AM / 10 months ago

CRISIL ratings for Indian debt instruments-Oct 5

19 Min Read

Oct 5 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of October 4, 2016.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Apollo Hospitals Enterprise Ltd         Bills Payable      CRISIL A1+     1059.2  Reaffirmed
Apollo Hospitals Enterprise Ltd         ST Loan            CRISIL A1+     600     Reaffirmed
Bank of Maharashtra                     Billion CDs        CRISIL A1+     150000  Reaffirmed
Cogeme Precision Parts India Pvt Ltd    LOC                CRISIL A3+     30      Reaffirmed
Computer Engineers                      BG                 CRISIL A4      20      Suspended
Dynasty Promoters Pvt Ltd               BG                 CRISIL A4+     110     Reaffirmed
Galpha Laboratories Ltd                 BG                 CRISIL A2      30      Reaffirmed
Galpha Laboratories Ltd                 LOC                CRISIL A2      20      Reaffirmed
Hinduja Global Solutions Ltd            Packing Credit     CRISIL A1+     750     Reaffirmed
Indo Amines Ltd                         LOC                CRISIL A2      240     Assigned
Jindal Fibres Ltd                       LOC                CRISIL A4+     30      Suspended
Kays Jewels Pvt Ltd                     BG                 CRISIL A3+     4       Suspended
Mehrotra Buildcon Pvt Ltd               Proposed ST Bk     CRISIL A3+     450     Assigned
                                        Loan Fac
Mehrotra Buildcon Pvt Ltd               BG                 CRISIL A3+     670     Assigned
N B Construction Company                BG                 CRISIL A3      125     Reaffirmed
P.N.Gadgil Jewellers Pvt Ltd            BG                 CRISIL         450     Notice of
                                                           A2(Notice of           Withdrawa
                                                           Withdrawal)
Pall India Pvt Ltd                      BG                 CRISIL A1+     100     Reaffirmed
Severn Glocon India Pvt Ltd             LOC                CRISIL A2      220     Reaffirmed
Shakthi Electricals Chennai Pvt Ltd     BG                 CRISIL A4+     52.5    Assigned
Shree Sai Calnates India Pvt Ltd        BG                 CRISIL A4+     20      Upgraded from
                                                                                  CRISIL A4
Shyam Polytex Pvt Ltd                   LOC                CRISIL A4+     15      Reaffirmed
Sports Lifestyle Pvt Ltd                BG                 CRISIL A4+     30      Suspended
Sports Lifestyle Pvt Ltd                LOC                CRISIL A4+     30      Suspended
Sundram Fasteners Ltd                   ST Debt (Including CRISIL A1+     1250    Reaffirmed
                                        CP)
United Ship Breaking Co.                LOC                CRISIL A4+     380     Reaffirmed
Varks Engineers Pvt Ltd                 BG                 CRISIL A4+     400     Reaffirmed


LONG TERM RATINGS:
-------------------
Agrasen Iron and Steels Pvt Ltd         CC                 CRISIL BB      50      Suspended
Alamelu Balaji Spg Mills Pvt Ltd        CC                 CRISIL D       124.5   Downgraded
                                                                                  from CRISIL B
Alamelu Balaji Spg Mills Pvt Ltd        LT Loan            CRISIL D       66.8    Downgraded
                                                                                  from CRISIL B
Apollo Hospitals Enterprise Ltd         CC                 CRISIL AA      742.7   Reaffirmed
Apollo Hospitals Enterprise Ltd         Proposed LT Bk     CRISIL AA      3448.1  Reaffirmed
                                        Loan Fac
Apollo Hospitals Enterprise Ltd         Rupee TL           CRISIL AA      18150   Reaffirmed
Bank of Maharashtra                     Tier-I Bonds       CRISIL A-      10000   Downgraded
                                        (Under Basel III)                         from CRISIL
                                                                                  A+
Bank of Maharashtra                     Tier-I Bonds       CRISIL A+      2950    Downgraded
                                        (Under Basel II)                          from CRISIL
                                                                                  AA-
Bank of Maharashtra                     Upper Tier-II      CRISIL A+      12500   Downgraded
                                        Bonds (Under Basel                        from CRISIL
                                        II)                                       AA-
Bank of Maharashtra                     Lower Tier-II      CRISIL AA-     1000    Downgraded
                                        Bonds (Under Basel                        from CRISIL
                                        II)                                       AA
Best Tanning Industries Pvt Ltd         CC                 CRISIL D       50      Reaffirmed
Best Tanning Industries Pvt Ltd         LOC                CRISIL D       10      Reaffirmed
Best Tanning Industries Pvt Ltd         Packing Credit     CRISIL D       35      Reaffirmed
Best Tanning Industries Pvt Ltd         Proposed LT Bk     CRISIL D       5       Reaffirmed
                                        Loan Fac
Cogeme Precision Parts India Pvt Ltd    Buyer Credit Limit CRISIL BBB     30      Reaffirmed
Cogeme Precision Parts India Pvt Ltd    CC                 CRISIL BBB     70      Reaffirmed
Cogeme Precision Parts India Pvt Ltd    TL                 CRISIL BBB     20      Reaffirmed
Computer Engineers                      CC                 CRISIL B+      50      Suspended
Dynasty Promoters Pvt Ltd               CC                 CRISIL BB-     85      Reaffirmed
Easyaccess Financial Services Ltd       Proposed LT Bk     CRISIL A       1950    Upgraded from
                                        Loan Fac                                  CRISIL A-
Easyaccess Financial Services Ltd       WC Demand Loan*    CRISIL A       1550    Upgraded from
                                                                                  CRISIL A-
*Interchangeable with cash credit/overdraft/foreign currency non-resident bank (FCNR-B)
loans/short-term loans.
Ferro Steel Solutions                   CC                 CRISIL BB-     125     Reaffirmed
Ferro Steel Solutions                   Channel Financing  CRISIL BB-     150     Reaffirmed
Ferro Steel Solutions                   Inventory Funding  CRISIL BB-     150     Reaffirmed
                                        Fac
Gajraula Roller Flour Mills Pvt Ltd     CC                 CRISIL BB+     120     Assigned
Gajraula Roller Flour Mills Pvt Ltd     TL                 CRISIL BB+     40      Assigned
Galpha Laboratories Ltd                 CC                 CRISIL BBB+    300     Reaffirmed
Glastronix                              CC                 CRISIL BBB-    34      Reaffirmed
Glastronix                              Export Packing     CRISIL BBB-    56      Reaffirmed
                                        Credit
H.M.V. Associates                       CC                 CRISIL B       50      Suspended
Hinduja Global Solutions Ltd            CC*                CRISIL A+      1000    Reaffirmed
*Interchangeable with post-shipment credit of Rs 450 million and LC limit of Rs 100 million
Hinduja Global Solutions Ltd            Packing Credit^    CRISIL A+      955     Reaffirmed
^Interchangeable with CC limits of Rs 250 million
Hinduja Global Solutions Ltd            TL                 CRISIL A+      925     Reaffirmed

Indo Amines Ltd                         TL                 CRISIL BBB+    82.7    Assigned
Indo Amines Ltd                         Proposed LT Bk     CRISIL BBB+    7.3     Assigned
                                        Loan Fac
Indo Amines Ltd                         CC                 CRISIL BBB+    360     Assigned
J.M.D. Corporation of India Ltd         CC                 CRISIL D       185     Downgraded
                                                                                  from CRISIL B
J.M.D. Corporation of India Ltd         Proposed LT Bk     CRISIL D       115     Downgraded
                                        Loan Fac                                  from CRISIL B
J.M.D. Laxmi Enterprises                CC                 CRISIL D       100     Downgraded
                                                                                  from CRISIL
                                                                                  B-
J.M.D. Laxmi Enterprises                Proposed LT Bk     CRISIL D       50      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  B-
Jindal Fibres Ltd                       CC                 CRISIL BB-     130     Suspended
Jindal Fibres Ltd                       Rupee TL           CRISIL BB-     90      Suspended
Jubilee Infratech Pvt Ltd               TL                 CRISIL B       60      Suspended
Kanak Automobiles Pvt Ltd               CC                 CRISIL B-      30.6    Reaffirmed
Kanak Automobiles Pvt Ltd               Electronic Dealer  CRISIL B-      70      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Kanak Automobiles Pvt Ltd               TL                 CRISIL B-      70.2    Reaffirmed
Kays Jewels Pvt Ltd                     CC                 CRISIL BBB     135     Suspended
Kays Jewels Pvt Ltd                     Export Packing     CRISIL BBB     20      Suspended
                                        Credit
Kays Jewels Pvt Ltd                     Foreign Bill       CRISIL BBB     40      Suspended
                                        Purchase
Kays Jewels Pvt Ltd                     Proposed LT Bk     CRISIL BBB     1       Suspended
                                        Loan Fac
Khedut Agro Engineering Pvt Ltd         CC                 CRISIL BB-     25      Reaffirmed
Khedut Agro Engineering Pvt Ltd         Proposed LT Bk     CRISIL BB-     28      Reaffirmed
                                        Loan Fac
Khedut Agro Engineering Pvt Ltd         TL                 CRISIL BB-     7       Reaffirmed
Kirti Agrotech Ltd                      CC                 CRISIL BB      200     Suspended
Kirti Agrotech Ltd                      Proposed LT Bk     CRISIL BB      33      Suspended
                                        Loan Fac
Kirti Agrotech Ltd                      TL                 CRISIL BB      87      Suspended
Kirti Agrovet Ltd                       CC                 CRISIL BB      233     Suspended
Kirti Agrovet Ltd                       Overdraft Fac      CRISIL BB      50      Suspended
Kirti Agrovet Ltd                       TL                 CRISIL BB      54      Suspended
Kirti Agrovet Ltd                       CC                 CRISIL BB      233     Suspended
Kirti Agrovet Ltd                       Overdraft Fac      CRISIL BB      50      Suspended
Kirti Agrovet Ltd                       TL                 CRISIL BB      54      Suspended
Kirti Dal Mills Ltd                     CC                 CRISIL BB      200     Suspended
Kirti Foods Ltd                         CC                 CRISIL BB      200     Suspended
Kirti Solvex Ltd                        CC                 CRISIL BB      170     Suspended
Makhwan Metal Trading Company Pvt Ltd   CC                 CRISIL D       200     Downgraded
                                                                                  from CRISIL
                                                                                  B-
Mansons International Pvt Ltd           Packing Credit#    CRISIL BBB-    180     Reaffirmed
# Includes sub limit Postshipment credit Rs.180 Million, Cash Credit Rs.60 Million, 
LC Rs.10 Million,One time BG Rs.50 Million
Mehrotra Buildcon Pvt Ltd               WC Demand Loan     CRISIL BBB     20      Assigned
Mehrotra Buildcon Pvt Ltd               Proposed LT Bk     CRISIL BBB     200     Assigned
                                        Loan Fac
Mehrotra Buildcon Pvt Ltd               CC                 CRISIL BBB     160     Assigned
Muthoot Automotive India Pvt Ltd        Inventory Funding  CRISIL B+      100     Reaffirmed
                                        Fac
N B Construction Company                Overdraft Fac      CRISIL BBB-    25      Reaffirmed
P.N.Gadgil Jewellers Pvt Ltd            CC                 CRISIL BBB+    850     Notice of
                                                                                  Withdrawa
P.N.Gadgil Jewellers Pvt Ltd            WC Demand Loan     CRISIL BBB+    550     Notice of
                                                                                  Withdrawa
Pilania Steels Pvt Ltd                  CC                 CRISIL B       75      Suspended
Prakash Jha Productions                 CC                 CRISIL B+      100     Reaffirmed
S. Kumaraguru                           CC                 CRISIL BB-     55      Suspended
S. R. Textile Suppliers                 CC                 CRISIL BB-     210     Reaffirmed
S. R. Textile Suppliers                 Proposed LT Bk     CRISIL BB-     9       Reaffirmed
                                        Loan Fac
Severn Glocon India Pvt Ltd             CC                 CRISIL BBB+    30      Reaffirmed
Severn Glocon India Pvt Ltd             Export Packing     CRISIL BBB+    240     Reaffirmed
                                        Credit
Severn Glocon India Pvt Ltd             Proposed WC Fac    CRISIL BBB+    165     Reaffirmed
Shakthi Electricals Chennai Pvt Ltd     CC                 CRISIL BB-     27.5    Assigned
Shivam Cotton Industries (Junagadh)     CC                 CRISIL B       70      Suspended
Shivam Cotton Industries (Junagadh)     TL                 CRISIL B       49      Suspended
Shree Sai Calnates India Pvt Ltd        CC                 CRISIL BB-     118.2   pgraded from
                                                                                  CRISIL B+
Shyam Polytex Pvt Ltd                   CC                 CRISIL BB-     75      Reaffirmed
Shyamali Cold Storage Pvt Ltd           CC                 CRISIL B-      34.5    Reaffirmed
Shyamali Cold Storage Pvt Ltd           LT Loan            CRISIL B-      28      Reaffirmed
Shyamali Cold Storage Pvt Ltd           WC TL              CRISIL B-      7.5     Reaffirmed
Sports Lifestyle Pvt Ltd                CC                 CRISIL BB-     90      Suspended
Sri lakshmi Mounica Rice Industries     Proposed LT Bk     CRISIL B-      7.5     Assigned
                                        Loan Fac
Sri lakshmi Mounica Rice Industries     CC                 CRISIL B-      52.5    Assigned
Sri lakshmi Mounica Rice Industries     LT Loan            CRISIL B-      40      Assigned
Sterling Habitats Pvt Ltd               NCD - Series I     CRISIL BB-(SO) 250000  Downgraded
                                                                                  from CRISIL
                                                                                  BB(SO)
Sterling Habitats Pvt Ltd               NCD - Series II    CRISIL BB-(SO) 250000  Outlook
                                                                                  revised from
                                                                                  Stable; 
                                                                                  rating 
                                                                                  reaffirmed
T.M.M.R. Rathinasamy Nadar & Co.        CC                 CRISIL B       50      Suspended
United Ship Breaking Co.                CC                 CRISIL BB      50      Reaffirmed
United Ship Breaking Co.                Proposed LT Bk     CRISIL BB      17      Reaffirmed
                                        Loan Fac
Varks Engineers Pvt Ltd                 Overdraft Fac      CRISIL BB      230     Reaffirmed
Zenith Strips Ltd                       CC                 CRISIL BB-     150     Downgraded
                                                                                  from CRISIL
                                                                                  BB
--------------------------------------------------------------------------------------------
$: 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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