Reuters logo
CRISIL ratings for Indian debt instruments-Oct 7
October 7, 2016 / 5:56 AM / a year ago

CRISIL ratings for Indian debt instruments-Oct 7

Oct 7 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of October 6, 2016.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aamoda Publications Pvt Ltd             Inland/Import LOC  CRISIL A4      90      Reaffirmed
Agappe Diagnostics Ltd                  CP                 CRISIL A2      100     Assigned
Amul Boards Pvt Ltd                     LOC                CRISIL A4+     100     Reaffirmed
Arora Matthey Ltd                       BG                 CRISIL A4+     25      Reaffirmed
Arora Matthey Ltd                       Loan Equivalent    CRISIL A4+     4       Reaffirmed
                                        Risk Limits
Automag India Pvt Ltd                   BG                 CRISIL A3      60      Reaffirmed
Automag India Pvt Ltd                   LOC                CRISIL A3      25      Reaffirmed
Bharat Insulation Company India Ltd     LOC                CRISIL A3      100     Reaffirmed
Bharat Insulation Company India Ltd     LOC                CRISIL A3      200     Reaffirmed
Effwa Infra & Research Pvt Ltd          BG                 CRISIL A4+     110     Assigned
Effwa Infra & Research Pvt Ltd          BG                 CRISIL A4+     110     Assigned
JR Fibreglass Industries Pvt Ltd        BG                 CRISIL A4      60      Reaffirmed
JR Fibreglass Industries Pvt Ltd        LOC                CRISIL A4      11      Reaffirmed
Kasa Anlagen India Pvt Ltd              BG                 CRISIL A4      45      Reaffirmed
Kasa Anlagen India Pvt Ltd              Bill Discounting   CRISIL A4      10      Reaffirmed
                                        under LOC
Kirloskar Brothers Ltd                  CP                 CRISIL A1+     1000    Reaffirmed
Kirloskar Brothers Ltd                  LOC & BG           CRISIL A1+     14800   Reaffirmed
Krishna Metacraft Pvt Ltd               BG                 CRISIL A4+     5       Reaffirmed
Krishna Metacraft Pvt Ltd               Foreign Exchange   CRISIL A4+     1.5     Reaffirmed
                                        Forward
Krishna Metacraft Pvt Ltd               Inland/Import LOC  CRISIL A4+     30      Reaffirmed
Longowalia Yarns Ltd                    LOC & BG           CRISIL A4+     110     Reaffirmed
M/s R. B. Chavan                        BG                 CRISIL A4+     160     Upgraded from
                                                                                  CRISIL A4
Metal Engineering and Treatment Company Packing Credit     CRISIL A4+     30      Assigned
Pvt Ltd
Metal Engineering and Treatment Company LOC                CRISIL A4+     64.5    Assigned
Pvt Ltd
Metal Engineering and Treatment Company BG                 CRISIL A4+     190     Assigned
Pvt Ltd
My Car (Indore) Pvt Ltd                 BG                 CRISIL A4      30      Reaffirmed
Navratan Specialty Chemicals LLP        LOC & BG           CRISIL A2      60      Reaffirmed
P A Footwear Pvt Ltd                    Export Packing     CRISIL A3+     220     Assigned
                                        Credit
P A Footwear Pvt Ltd                    Foreign Bill       CRISIL A3+     27.5    Assigned
                                        Discounting
P A Footwear Pvt Ltd                    LOC                CRISIL A3+     150     Assigned
P A Footwear Pvt Ltd                    Standby Export     CRISIL A3+     50      Assigned
                                        Packing Credit
Planet Agencies Pvt Ltd                 Proposed Inventory CRISIL A4+     20      Reaffirmed
                                        Funding
Planet Agencies Pvt Ltd                 Inventory Funding  CRISIL A4+     7.5     Reaffirmed
                                        Fac
Power Finance Corporation Ltd           ST Borrowing       CRISIL A1+     250000  Enhanced from
                                        Programme~                                Rs.230 Billion
Power Finance Corporation Ltd           ST Borrowing       CRISIL A1+     250000  Reaffirmed
                                        Programme* 
*Borrowing programme for fiscal 2016
Power Finance Corporation Ltd           ST Borrowing       CRISIL A1+     100000  Reaffirmed
                                        Programme#
#Borrowing programme for fiscal 2015
Purbanchal Laminates Pvt Ltd            LOC                CRISIL A4+     25.2    Reaffirmed
Purbanchal Lumbers Pvt Ltd              LOC                CRISIL A4+     250     Reaffirmed
Purbanchal Veneers                      LOC                CRISIL A4+     100     Reaffirmed
S.P.K. and Co.                          BG                 CRISIL A3+     400     Upgraded from
                                                                                  CRISIL A3
S.P.K. and Co.                          ST Loan            CRISIL A3+     300     Upgraded from
                                                                                  CRISIL A3
S.P.K. and Co.                          Proposed BG        CRISIL A3+     100     Upgraded from
                                                                                  CRISIL A3
Saboo Cylinders Pvt Ltd                 BG                 CRISIL A3      30      Reaffirmed
Salasar Plywood Pvt Ltd                 LOC                CRISIL A4+     80      Assigned
Sarvottam Rolling Mills Pvt Ltd         BG                 CRISIL A4      5       Reaffirmed
Sarvottam Rolling Mills Pvt Ltd         LOC                CRISIL A4      50      Reaffirmed
Shree Satsangi Saket Dham Ram Ashram    Overdraft Fac      CRISIL A4      26.6    Assigned
Sitara Conductors and Cables Pvt Ltd    BG                 CRISIL A4      20      Assigned
Vardhman Textiles Ltd                   STD/CP             CRISIL A1+     10000   Reaffirmed
Enhanced from Rs.5 Billion
Vardhman Textiles Ltd                   Foreign Bill       CRISIL A1+     2500    Reaffirmed
                                        Purchase
Vardhman Textiles Ltd                   LOC & BG#          CRISIL A1+     2000    Reaffirmed
# Letter of credit and bank guarantee limits are interchangeable
Vardhman Yarns and Threads Ltd          CP                 CRISIL A1+     1000    Withdrawal
Vardhman Yarns and Threads Ltd          LOC**              CRISIL A1+     55      Reaffirmed
**Interchangeable with other non-fund-based limits

MEDIUM TERM RATINGS:
-------------------
Vardhman Textiles Ltd                   FD                 FAA+                   Reaffirmed


LONG TERM RATINGS:
-------------------
Aamoda Broadcasting Company Pvt Ltd     CC                 CRISIL B       20      Upgraded from
                                                                                  CRISIL B-
Aamoda Broadcasting Company Pvt Ltd     Proposed LT Bk     CRISIL B       43.3    Upgraded from
                                        Loan Fac                                  CRISIL B-
Aamoda Broadcasting Company Pvt Ltd     TL                 CRISIL B       86.7    Upgraded from
                                                                                  CRISIL B-

Aamoda Publications Pvt Ltd             CC                 CRISIL B       200     Upgraded from
                                                                                  CRISIL B-
Aamoda Publications Pvt Ltd             Proposed LT Bk     CRISIL B       130     Upgraded from
                                        Loan Fac                                  CRISIL B-
Adani Power Rajasthan Ltd               BG                 CRISIL BB+     1500    Reaffirmed
Adani Power Rajasthan Ltd               BG                 CRISIL BB+     3600    Withdrawal
Adani Power Rajasthan Ltd               Proposed BG        CRISIL BB+     4900    Withdrawal
Adani Power Rajasthan Ltd               Proposed LT Bk     CRISIL BB+     56240   Withdrawal
                                        Loan Fac
Adithya Global Healthcare Pvt Ltd       Proposed LT Bk     CRISIL B       152.5   Assigned
                                        Loan Fac
Adithya Global Healthcare Pvt Ltd       CC                 CRISIL B       22.5    Assigned
Adithya Global Healthcare Pvt Ltd       LT Loan            CRISIL B       100     Assigned
Amar Ujala Publications Ltd             CP                 --             500     Withdrawal
Amar Ujala Publications Ltd             CC                 CRISIL A       650     Reaffirmed
Amar Ujala Publications Ltd             CC                 CRISIL A       500     Withdrawal
Amar Ujala Publications Ltd             Corporate Loan     CRISIL A       100     Withdrawal
Amar Ujala Publications Ltd             Proposed LT Bk     CRISIL A       35      Withdrawal
                                        Loan Fac
Amar Ujala Publications Ltd             TL                 CRISIL A       715     Withdrawal
Amul Boards Pvt Ltd                     CC                 CRISIL BB      25      Upgraded from
                                                                                  CRISIL BB-
Arora Matthey Ltd                       Buyer Credit Limit CRISIL BB+     40      Reaffirmed
Arora Matthey Ltd                       CC                 CRISIL BB+     125     Reaffirmed
Automag India Pvt Ltd                   CC                 CRISIL BBB-    105     Reaffirmed
Automag India Pvt Ltd                   Proposed LT Bk     CRISIL BBB-    60      Reaffirmed
                                        Loan Fac
Automag India Pvt Ltd                   TL                 CRISIL BBB-    70      Reaffirmed
Bharat Insulation Company India Ltd     Buyer Credit Limit CRISIL BBB-    20      Reaffirmed
Bharat Insulation Company India Ltd     CC                 CRISIL BBB-    180     Reaffirmed
Effwa Infra & Research Pvt Ltd          CC                 CRISIL BB-     30      Assigned
Effwa Infra & Research Pvt Ltd          CC                 CRISIL BB-     30      Assigned
Empire Meadows Pvt Ltd                  LT Loan            CRISIL B+      150     Assigned
Godawri Motors Pvt Ltd                  CC                 CRISIL B-      75      Assigned
Godawri Motors Pvt Ltd                  Proposed LT Bk     CRISIL B-      25      Assigned
                                        Loan Fac
JKG Realtech Pvt Ltd                    CC                 CRISIL B+      50      Assigned
JKG Realtech Pvt Ltd                    LT Loan            CRISIL B+      85      Assigned
JR Fibreglass Industries Pvt Ltd        CC                 CRISIL B       74      Reaffirmed
JR Fibreglass Industries Pvt Ltd        Proposed LT Bk     CRISIL B       5       Reaffirmed
                                        Loan Fac
Kasa Anlagen India Pvt Ltd              CC                 CRISIL B+      25      Reaffirmed
Kasa Anlagen India Pvt Ltd              Proposed LT Bk     CRISIL B+      10      Reaffirmed
                                        Loan Fac
Kirloskar Brothers Ltd                  CC                 CRISIL AA-     3200    Reaffirmed
Kotak Securities Ltd                    Optionally         CRISIL AAAr    500     Reaffirmed
                                        Convertible
                                        Debentures
Krishna Metacraft Pvt Ltd               Bill Discounting   CRISIL BB-     15      Reaffirmed
Krishna Metacraft Pvt Ltd               CC                 CRISIL BB-     27.5    Reaffirmed
Longowalia Yarns Ltd                    CC                 CRISIL BB+     580     Reaffirmed
Longowalia Yarns Ltd                    Proposed LT Bk     CRISIL BB+     28      Reaffirmed
                                        Loan Fac
Longowalia Yarns Ltd                    TL                 CRISIL BB+     1332    Reaffirmed
M/s R. B. Chavan                        CC                 CRISIL BB-     90      Upgraded from
                                                                                  CRISIL B+
Metal Engineering and Treatment Company Proposed LT Bk     CRISIL BB-     2.5     Assigned
Pvt Ltd                                 Loan Fac
Metal Engineering and Treatment Company CC                 CRISIL BB-     48      Assigned
Pvt Ltd
Metal Engineering and Treatment Company Bill Discounting   CRISIL BB-     30      Assigned
Pvt Ltd
MY Car (Bhopal) Pvt Ltd                 CC                 CRISIL B+      350     Reaffirmed
MY Car (Bhopal) Pvt Ltd                 Inventory Funding  CRISIL B+      250     Reaffirmed
                                        Fac
MY Car (Bhopal) Pvt Ltd                 Proposed LT Bk     CRISIL B+      100     Reaffirmed
                                        Loan Fac
My Car (Indore) Pvt Ltd                 CC                 CRISIL B+      330.2   Reaffirmed
My Car (Indore) Pvt Ltd                 TL                 CRISIL B+      9.8     Reaffirmed
My Equipments Pvt Ltd                   CC                 CRISIL BB-     120     Reaffirmed
My Equipments Pvt Ltd                   Inventory Funding  CRISIL BB-     130     Reaffirmed
                                        Fac
My Equipments Pvt Ltd                   TL                 CRISIL BB-     10      Reaffirmed
MY Fone Teleservices Pvt Ltd            CC                 CRISIL B+      50      Reaffirmed
Navratan Specialty Chemicals LLP        CC                 CRISIL BBB+    72.5    Reaffirmed
Navratan Specialty Chemicals LLP        CC*                CRISIL BBB+    150     Reaffirmed
*One-way interchangeability from letter of credit to cash credit to the extent of Rs 50 Million.
Navratan Specialty Chemicals LLP        LOC & BG*          CRISIL BBB+    75      Reaffirmed
*One-way interchangeability from letter of credit to cash credit to the extent of Rs 50 Million.
Navratan Specialty Chemicals LLP        LT Loan            CRISIL BBB+    454.4   Reaffirmed
Nexus Health and Beauty Care Pvt Ltd    CC                 CRISIL B-      50      Assigned
P A Footwear Pvt Ltd                    Corporate Loan     CRISIL BBB     117.5   Assigned
P A Footwear Pvt Ltd                    Foreign Bill       CRISIL BBB     25      Assigned
                                        Discounting
P A Footwear Pvt Ltd                    Foreign Bill       CRISIL BBB     50      Assigned
                                        Purchase
P A Footwear Pvt Ltd                    Proposed LT Bk     CRISIL BBB     35      Assigned
                                        Loan Fac
Pavan Motors Pvt Ltd                    Inventory Funding  CRISIL B+      175     Reaffirmed
                                        Fac
Pavan Motors Pvt Ltd                    Proposed LT Bk     CRISIL B+      25      Reaffirmed
                                        Loan Fac
Pavan Motors Pvt Ltd                    LT Loan            CRISIL B+      20      Reaffirmed
Planet Agencies Pvt Ltd                 CC                 CRISIL BB+     7.5     Reaffirmed
Planet Agencies Pvt Ltd                 Drop Line          CRISIL BB+     2.5     Reaffirmed
                                        Overdraft Fac
Planet Agencies Pvt Ltd                 Inventory Funding  CRISIL BB+     102.5   Reaffirmed
                                        Fac
Power Finance Corporation Ltd           LT Borrowing       CRISIL AAA     450000  Enhanced from
                                        Programme~                                Rs.190.0
                                                                                  Billion
~Borrowing programme for fiscal 2017 (refers to financial year, April 1 to March 31). Total
incremental long-term bank borrowing and borrowings under the rate
Power Finance Corporation Ltd           LT Borrowing       CRISIL AAA     450000  Reaffirmed
                                        Programme* 
*Borrowing programme for fiscal 2016
Power Finance Corporation Ltd           LT Borrowing       CRISIL AAA     460000  Reaffirmed
                                        Programme#
#Borrowing programme for fiscal 2015
Power Finance Corporation Ltd           Subordinated NCDs  CRISIL AAA     150000  Reaffirmed
Power Finance Corporation Ltd           Bonds              CRISIL AA   1227047.3  Reaffirmed
Power Finance Corporation Ltd           CC*                CRISIL AAA     75      Reaffirmed
*Limit for working capital'working capital demand loan/overdraft facility/cash credit/line of
credit/bank guarantee. Limit includes long-term and short-term facilities. Total working capital
borrowings not to exceed board-approved limit of Rs 75.0 billion
Power Finance Corporation Ltd           TL                 CRISIL AAA     224.7   Reaffirmed
Prince T M T Steels Pvt Ltd             Proposed LT Bk     CRISIL BBB-    185     Suspended
                                        Loan Fac
Purbanchal Laminates Pvt Ltd            CC                 CRISIL BB      67.5    Upgraded from
                                                                                  CRISIL BB-
Purbanchal Laminates Pvt Ltd            TL                 CRISIL BB      14      Upgraded from
                                                                                  CRISIL BB-
Purbanchal Lumbers Pvt Ltd              CC                 CRISIL BB      30      Upgraded from
                                                                                  CRISIL BB-
Purbanchal Lumbers Pvt Ltd              Proposed LT Bk     CRISIL BB      101.5   Upgraded from
                                        Loan Fac                                  CRISIL BB-
Purbanchal Veneers                      CC                 CRISIL BB      8       Upgraded from
                                                                                  CRISIL BB-
Quebec Petroleum Resources Ltd          CC                 CRISIL BBB-    280     Reaffirmed
Quebec Petroleum Resources Ltd          TL                 CRISIL BBB-    19.8    Reaffirmed
Rewale Engineering Pvt Ltd              CC                 CRISIL BB-     85      Assigned
Rewale Engineering Pvt Ltd              Proposed LT Bk     CRISIL BB-     20      Assigned
                                        Loan Fac
S.P.K. and Co.                          Overdraft Fac      CRISIL BBB     600     Upgraded from
                                                                                  CRISIL BBB-
S.P.K. and Co.                          Proposed Overdraft CRISIL BBB     400     Upgraded from
                                        Fac                                       CRISIL BBB-
S.P.K. and Co.                          Proposed LT Bk     CRISIL BBB     200     Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Saboo Cylinders Pvt Ltd                 CC                 CRISIL BBB-    135     Reaffirmed
Sai Srinivasa Ginning Mill              CC                 CRISIL BB-     81      Upgraded from
                                                                                  CRISIL B
Sai Srinivasa Ginning Mill              LT Loan            CRISIL BB-     9       Upgraded from
                                                                                  CRISIL B
Salasar Plywood Pvt Ltd                 CC                 CRISIL BB      5       Assigned
Sarvottam Rolling Mills Pvt Ltd         CC                 CRISIL B       120     Reaffirmed
Sarvottam Rolling Mills Pvt Ltd         Proposed CC Limit  CRISIL B       19.1    Reaffirmed
Seven Islands Shipping Ltd              Foreign Currency TLCRISIL A-      3045    Reaffirmed
Seven Islands Shipping Ltd              Overdraft Fac      CRISIL A-      45      Reaffirmed
Seven Islands Shipping Ltd              TL                 CRISIL A-      460     Reaffirmed
Shree Satsangi Saket Dham Ram Ashram    Rupee TL           CRISIL C       66.7    Revised from
                                                                                  CRISIL B-
Shree Satsangi Saket Dham Ram Ashram    Proposed LT Bk     CRISIL C       8.2     Revised from
                                        Loan Fac                                  CRISIL B-
Shriniwas Machine Craft Pvt Ltd         CC                 CRISIL BB-     60      Reaffirmed
Shriniwas Machine Craft Pvt Ltd         Proposed LT Bk     CRISIL BB-     85      Reaffirmed
                                        Loan Fac
Sitara Conductors and Cables Pvt Ltd    Proposed LT Bk     CRISIL B-      30      Assigned
                                        Loan Fac
Sitara Conductors and Cables Pvt Ltd    CC                 CRISIL B-      30      Assigned
Vardhman Textiles Ltd                   CC*                CRISIL AA      15050   Reaffirmed
* Includes Rs 11550 million sublimit for packing credit
Vardhman Textiles Ltd                   FB Fac^            CRISIL AA      450     Reaffirmed
^ Interchangeable with non-fund-based limits
Vardhman Textiles Ltd                   Proposed Rupee TL  CRISIL AA      6516.8  Reaffirmed
Vardhman Textiles Ltd                   Rupee TL           CRISIL AA      27645.5 Reaffirmed
Vardhman Yarns and Threads Ltd          CC*                CRISIL AA-     1500    Reaffirmed
*Interchangeable with other fund-based limits
Vardhman Yarns and Threads Ltd          Proposed LT Bk     CRISIL AA-     81.3    Reaffirmed
                                        Loan Fac
Vardhman Yarns and Threads Ltd          TL                 CRISIL AA-     1341.1  Reaffirmed
Vikash Residential Institutions         TL                 CRISIL BB-     125     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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below