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CRISIL ratings for Indian debt instruments-Mar 2
March 2, 2017 / 6:07 AM / 7 months ago

CRISIL ratings for Indian debt instruments-Mar 2

    Mar 2 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 1, 2017.


COMPANY                               INSTRUMENT           RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                ----------           ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Antony Garages Pvt Ltd                  BG                 CRISIL A4+     80      Reaffirmed
BC Power Controls Ltd                   BG                 CRISIL A4+     10      Reaffirmed
BC Power Controls Ltd                   Foreign Bill       CRISIL A4+     100     Reaffirmed
                                        Purchase
BC Power Controls Ltd                   LOC                CRISIL A4+     20      Reaffirmed
BC Power Controls Ltd                   Packing Credit     CRISIL A4+     95      Reaffirmed
Blackberry Tiles Pvt Ltd                BG                 CRISIL A4      14      Reaffirmed
Britto Amusements Pvt Ltd               BG                 CRISIL A4+     2.3     Reaffirmed
Chemline India Ltd                      LOC                CRISIL A3      37      Upgraded from
                                                                                  CRISIL A4+
Chemline India Ltd                      Packing Credit     CRISIL A3      23      Upgraded from
                                                                                  CRISIL A4+
Darjeeling Dooars Plantations (Tea) Ltd BG                 CRISIL A3      8       Reaffirmed
Darjeeling Dooars Plantations (Tea) Ltd Letter Of GuaranteeCRISIL A3      11.5    Reaffirmed
Divya Engicon Pvt Ltd                   BG                 CRISIL A4+     20      Reaffirmed
Eltech Appliances Pvt Ltd               LOC & BG           CRISIL A3      1050    Upgraded from
                                                                                  CRISIL A4+
ETA General Pvt Ltd                     BG                 CRISIL A2      150     Reaffirmed
ETA General Pvt Ltd                     LOC                CRISIL A2      400     Reaffirmed
FCS Software Solutions Ltd              BG                 CRISIL A4      10      Reassigned
FCS Software Solutions Ltd              Export Packing     CRISIL A4      80      Reassigned
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Galaxy Mica Pvt Ltd                     Foreign Exchange   CRISIL A4      0.5     Reaffirmed
                                        Forward
Galaxy Office Automation Pvt Ltd        BG                 CRISIL A3      30      Reaffirmed
Gatiman Auto Pvt Ltd                    BG                 CRISIL A4      2       Reaffirmed
Gatiman Auto Pvt Ltd                    LOC                CRISIL A4      14.5    Reaffirmed
H.V.Equipments Pvt Ltd                  BG                 CRISIL A4      120     Reaffirmed
H.V.Equipments Pvt Ltd                  Proposed BG        CRISIL A4      40      Reaffirmed
Hitachi Hi-Rel Power Electronics Pvt    BG#                CRISIL A1+     848     Upgraded from
Ltd                                                                               CRISIL A1
# Includes sublimit of letter of credit (LC) of Rs 12 crore for bank guarantee of Rs 60 crore.
Hi-Tech Butterfly Valves India Pvt Ltd  BG                 CRISIL A4+     15      Reaffirmed
Hi-Tech Butterfly Valves India Pvt Ltd  Bill Discounting   CRISIL A4+     25      Reaffirmed
Hi-Tech Butterfly Valves India Pvt Ltd  LOC                CRISIL A4+     5       Reaffirmed
Jumbo Bag Ltd                           BG                 CRISIL A4      77      Reaffirmed
Jumbo Bag Ltd                           LOC                CRISIL A4      80      Reaffirmed
K.Kumar Raja Projects Pvt Ltd           BG                 CRISIL A3      310     Reaffirmed
Lala Harbhagwan Dass Memorial and Dr.   BG                 CRISIL A4+     10      Reaffirmed
Prem Hospital Pvt Ltd
Luminous Power Technologies Pvt Ltd     LOC & BG           CRISIL A1+     2450    Reaffirmed
Manisha Projects Pvt Ltd                BG                 CRISIL A4+     570     Reaffirmed
Nancy Krafts Pvt Ltd                    Export Packing     CRISIL A4      166.6   Downgraded
                                        Credit                                    from CRISIL
                                                                                  A4+
Nancy Krafts Pvt Ltd                    LOC & BG           CRISIL A4      45      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Nancy Krafts Pvt Ltd                    Standby Line of    CRISIL A4      10      Downgraded
                                        Credit                                    from CRISIL
                                                                                  A4+
Narayan Powertech Pvt Ltd               Proposed ST Bk     CRISIL A2      10      Reaffirmed
                                        Loan Fac
Nezami Rekha Sea Foods Pvt Ltd          Export Packing     CRISIL A4+     250     Reaffirmed
                                        Credit
Nezami Rekha Sea Foods Pvt Ltd          Proposed ST Bk     CRISIL A4+     1.4     Reaffirmed
                                        Loan Fac
Nui Pulp and Paper Industries Pvt Ltd   Bill Discounting   CRISIL A4      50      Reaffirmed
                                        under LOC
Nui Pulp and Paper Industries Pvt Ltd   Packing Credit in  CRISIL A4      40      Reaffirmed
                                        Foreign Currency
Nui Pulp and Paper Industries Pvt Ltd   Proposed ST Bk     CRISIL A4      20      Reaffirmed
                                        Loan Fac
P.K.Hospitality Services Pvt Ltd        BG                 CRISIL A4+     80      Reaffirmed
Philips India Ltd                       LOC & BG           CRISIL A1+     650     Reaffirmed
Phoenix Foils Pvt Ltd                   LOC                CRISIL A4+     130     Reaffirmed
Purbanchal Laminates Pvt Ltd            LOC                CRISIL A4+     25.2    Reaffirmed
Raghav Industries                       Packing Credit     CRISIL A4      20      Reaffirmed
Rajan Overseas Inc.                     Packing Credit     CRISIL A4+     116     Reaffirmed
Rajkamal Textiles                       BG                 CRISIL A4      0.9     Reaffirmed
Saket Engineers Pvt Ltd                 BG                 CRISIL A4      100     Reaffirmed
Shankar Trading Company Pvt Ltd         BG                 CRISIL A4+     0.7     Reaffirmed
Silver Sea Food                         Export Packing     CRISIL A2      350     Reaffirmed
                                        Credit
Silver Sea Food                         Foreign Exchange   CRISIL A2      34      Reaffirmed
                                        Forward
Silver Sea Food                         Proposed ST Bk     CRISIL A2      16      Reaffirmed
                                        Loan Fac
Sonia Fisheries Pvt Ltd                 Export Packing     CRISIL A2      220     Reassigned
                                        Credit
Sterling Impex - Delhi                  LOC & BG           CRISIL A4      100     Assigned
Sunil Garg and Co                       BG                 CRISIL A4+     62.5    Reaffirmed

Super Plateck Pvt Ltd                   LOC & BG           CRISIL A4      22.5    Reaffirmed
Sweta Minerals                          Inland/Import LOC  CRISIL A4+     65      Reaffirmed
The Cots Knits                          Packing Credit     CRISIL A4      30      Reaffirmed
Trimoorti Electricals                   BG                 CRISIL A4+     75      Reaffirmed
Trimoorti Electricals                   LOC                CRISIL A4+     25      Reaffirmed
Usha Shriram Enterprises Pvt Ltd        BG                 CRISIL A4+     2       Reaffirmed
Usha Shriram Enterprises Pvt Ltd        Inland/Import LOC  CRISIL A4+     80      Reaffirmed
Usha Shriram Enterprises Pvt Ltd        Packing Credit     CRISIL A4+     10      Reaffirmed
Vikas Organics Pvt Ltd                  BG                 CRISIL A4+     1.5     Reaffirmed
Vikas Organics Pvt Ltd                  LOC                CRISIL A4+     23      Reaffirmed
Wood Heaven Educational Society         Overdraft          CRISIL A4+     40      Reaffirmed
Zuri Hospitality Pvt Ltd                BG                 CRISIL A4      7.5     Upgraded from
                                                                                  CRISIL D
Zuri Hospitality Pvt Ltd                Overdraft          CRISIL A4      40      Upgraded from
                                                                                  CRISIL D
LONG TERM RATINGS:
-------------------
Adroit Corporate Services Pvt Ltd       CC                 CRISIL D       60      Downgraded
                                                                                  from CRISIL B+
Adroit Corporate Services Pvt Ltd       TL                 CRISIL D       185.3   Downgraded
                                                                                  from CRISIL B+
Aizawl Municipal Corporation            CCR                CCR BB         -       Reaffirmed
Ameya Logistics Pvt Ltd                 CCR                CCR A          -       Reaffirmed
Ameya Logistics Pvt Ltd                 FB Bk Fac          CRISIL A       -       Reaffirmed
Ameya Logistics Pvt Ltd                 Non FB Bk Fac      CRISIL A       -       Reaffirmed
Antony Garages Pvt Ltd                  CC                 CRISIL BB-     220     Reaffirmed
Antony Garages Pvt Ltd                  TL                 CRISIL BB-     300     Reaffirmed
B. D. Agro Products Pvt Ltd             CC                 CRISIL B-      30      Upgraded from
                                                                                  CRISIL C
B. D. Agro Products Pvt Ltd             LT Loan            CRISIL B-      8.2     Upgraded from
                                                                                  CRISIL C
B. D. Agro Products Pvt Ltd             Proposed FB Bk     CRISIL B-      21.8    Upgraded from
                                        Limits                                    CRISIL C
BC Power Controls Ltd                   CC                 CRISIL BB      25      Reaffirmed
Blackberry Tiles Pvt Ltd                CC                 CRISIL B+      20      Upgraded from
                                                                                  CRISIL B
Blackberry Tiles Pvt Ltd                Cash TL            CRISIL B+      65      Upgraded from
                                                                                  CRISIL B
Blackberry Tiles Pvt Ltd                Proposed LT Bk     CRISIL B+      1       Upgraded from
                                        Loan Fac                                  CRISIL B
Britto Amusements Pvt Ltd               Proposed LT Bk     CRISIL BB-     7.7     Reaffirmed
                                        Loan Fac
Britto Amusements Pvt Ltd               Secured Overdraft  CRISIL BB-     130     Reaffirmed
                                        Fac
Chemline India Ltd                      CC*                CRISIL BBB-    190     Upgraded from
                                                                                  CRISIL BB+
*Including a sublimit of buyers' credit of Rs.6.00 crore, EPC/PCFC of Rs.6.00 crore, and Foreign
discounting bills purchased (FDBP)/Foreign bill of exchange purchased (FBEP)/Export bill
re-discounting (EBRD) of Rs.6.00 crore

Darjeeling Dooars Plantations (Tea) Ltd CC                 CRISIL BBB-    159     Reaffirmed
Darjeeling Dooars Plantations (Tea) Ltd Proposed LT Bk     CRISIL BBB-    67.5    Reaffirmed
                                        Loan Fac
Darjeeling Dooars Plantations (Tea) Ltd TL                 CRISIL BBB-    4       Reaffirmed
Divya Engicon Pvt Ltd                   CC                 CRISIL BB-     20      Reaffirmed
Divya Engicon Pvt Ltd                   LT Loan            CRISIL BB-     15      Reaffirmed
Divya Engicon Pvt Ltd                   Proposed TL        CRISIL BB-     15      Reaffirmed
Eltech Appliances Pvt Ltd               CC                 CRISIL BBB-    100     Upgraded from
                                                                                  CRISIL BB+
Eltech Appliances Pvt Ltd               Proposed LT Bk     CRISIL BBB-    200     Upgraded from
                                        Loan Fac                                  CRISIL BB+
ETA General Pvt Ltd                     CC                 CRISIL BBB+    235     Reaffirmed
ETA General Pvt Ltd                     Proposed LT Bk     CRISIL BBB+    215     Reaffirmed
                                        Loan Fac
Floatels India Pvt Ltd                  CC                 CRISIL B+      7.5     Reaffirmed
Floatels India Pvt Ltd                  LT Loan            CRISIL B+      67.5    Reaffirmed
Galaxy Mica Pvt Ltd                     CC                 CRISIL B+      35      Upgraded from
                                                                                  CRISIL B
Galaxy Mica Pvt Ltd                     LT Loan            CRISIL B+      59.5    Upgraded from
                                                                                  CRISIL B
Galaxy Office Automation Pvt Ltd        CC                 CRISIL BBB-    60      Reaffirmed
Galaxy Office Automation Pvt Ltd        Proposed LT Bk     CRISIL BBB-    35      Reaffirmed
                                        Loan Fac
Gatiman Auto Pvt Ltd                    CC                 CRISIL B       46      Upgraded from
                                                                                  CRISIL B-
H.V.Equipments Pvt Ltd                  BG*                CRISIL B+      10      Reaffirmed
* Interchangeable with overdraft facility
H.V.Equipments Pvt Ltd                  Overdraft          CRISIL B+      40      Reaffirmed
Hitachi Hi-Rel Power Electronics Pvt    External           CRISIL AA-     169.5   Upgraded from
Ltd                                     Commercial                                CRISIL A+
                                        Borrowings
Hitachi Hi-Rel Power Electronics Pvt    Overdraft          CRISIL AA-     500     Upgraded from
Ltd                                                                               CRISIL A+
Hitachi Hi-Rel Power Electronics Pvt    Proposed LT Bk     CRISIL AA-     5.5     Upgraded from
Ltd                                     Loan Fac                                  CRISIL A+
Hi-Tech Butterfly Valves India Pvt Ltd  CC                 CRISIL BB      85      Reaffirmed
Jumbo Bag Ltd                           CC                 CRISIL B+      345     Reaffirmed
Jumbo Bag Ltd                           Foreign Bill       CRISIL B+      62.5    Reaffirmed
                                        Discounting
Jumbo Bag Ltd                           Standby Line of    CRISIL B+      10      Reaffirmed
                                        Credit
K.Kumar Raja Projects Pvt Ltd           CC                 CRISIL BBB-    30      Reaffirmed
K.Kumar Raja Projects Pvt Ltd           Proposed LT Bk     CRISIL BBB-    100     Reaffirmed
                                        Loan Fac
K.Kumar Raja Projects Pvt Ltd           Proposed Standby   CRISIL BBB-    10      Reaffirmed
                                        Line of Credit
Lala Harbhagwan Dass Memorial and Dr.   Overdraft          CRISIL BB+     10      Reaffirmed
Prem Hospital Pvt Ltd
Lala Harbhagwan Dass Memorial and Dr.   TL                 CRISIL BB+     65      Reaffirmed
Prem Hospital Pvt Ltd
Luminous Power Technologies Pvt Ltd     CC*                CRISIL AA+     4500    Upgraded from
                                                                                  CRISIL AA
*Cash credit facility fully interchangeable with working capital demand loan
Luminous Power Technologies Pvt Ltd     External           CRISIL AA+     75.9    Upgraded from
                                        Commercial                                CRISIL AA
                                        Borrowings##
## ECB outstanding USD 0.133 crore     
Luminous Power Technologies Pvt Ltd     Proposed TL        CRISIL AA+     1495.3  Upgraded from
                                                                                  CRISIL AA
Manisha Projects Pvt Ltd                CC                 CRISIL BB+     120     Reaffirmed
Nancy Krafts Pvt Ltd                    Proposed LT Bk     CRISIL B       78.4    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Narayan Powertech Pvt Ltd               Proposed LT Bk     CRISIL BBB+    123     Reaffirmed
                                        Loan Fac
Narayan Powertech Pvt Ltd               WC Fac*            CRISIL BBB+    70      Reaffirmed
*Including packing credit sublimit of 4 Crore, Packing credit in foreign currency of 4 Crore,
Foreign Documentary Bills for purchase of 2.5 Crore, Letter of Credit of 6 Crore, Buyer credit
of 1 Crore and Bank Guarantee of 3 Crore.
NeuroGen Brain And Spine Institute      Rupee TL           CRISIL BB-     220     Upgraded from
                                                                                  CRISIL B
NIF Ispat Ltd                           Export Packing     CRISIL BB      69.5    Reaffirmed
                                        Credit
NIF Ispat Ltd                           Foreign Bill       CRISIL BB      69.5    Reaffirmed
                                        Discounting
NIF Ispat Ltd                           Proposed LT Bk     CRISIL BB      31      Reaffirmed
                                        Loan Fac
P.K.Hospitality Services Pvt Ltd        Overdraft          CRISIL BB-     166     Downgraded
                                                                                  from CRISIL BB
P.K.Hospitality Services Pvt Ltd        Proposed LT Bk     CRISIL BB-     51.2    Downgraded
                                        Loan Fac                                  from CRISIL BB
P.K.Hospitality Services Pvt Ltd        TL                 CRISIL BB-     232.8   Downgraded
                                                                                  from CRISIL BB
Philips India Ltd                       CC*                CRISIL AA+     3350    Upgraded from
                                                                                  CRISIL AA
* Rs 285 crore interchangeable with letter of credit and bank guarantee
Phoenix Foils Pvt Ltd                   CC                 CRISIL BB+     90      Upgraded from
                                                                                  CRISIL BB
Phoenix Foils Pvt Ltd                   LT Loan            CRISIL BB+     46      Upgraded from
                                                                                  CRISIL BB
Phoenix Foils Pvt Ltd                   Proposed LT Bk     CRISIL BB+     8.6     Upgraded from
                                        Loan Fac                                  CRISIL BB
Purbanchal Laminates Pvt Ltd            CC                 CRISIL BB      67.5    Reaffirmed
Purbanchal Laminates Pvt Ltd            Proposed LT Bk     CRISIL BB      32.8    Reaffirmed
                                        Loan Fac
Purbanchal Laminates Pvt Ltd            TL                 CRISIL BB      14      Reaffirmed
Raghav Industries                       CC                 CRISIL B+      80      Reaffirmed
Raghav Industries                       Proposed CC Limit  CRISIL B+      20      Reaffirmed
Rajan Overseas Inc.                     Proposed LT Bk     CRISIL BB+     4       Reaffirmed
                                        Loan Fac
Rajkamal Textiles                       CC                 CRISIL B+      50      Reaffirmed
Saket Engineers Pvt Ltd                 CC                 CRISIL B       65      Reaffirmed
Saket Engineers Pvt Ltd                 LT Loan            CRISIL B       405     Reaffirmed
Saket Engineers Pvt Ltd                 Proposed LT Bk     CRISIL B       250     Reaffirmed
                                        Loan Fac
Shankar Trading Company Pvt Ltd         CC                 CRISIL BB-     72.5    Reaffirmed
Shankar Trading Company Pvt Ltd         Proposed LT Bk     CRISIL BB-     1.8     Reaffirmed
                                        Loan Fac
Shikhar Foods Pvt Ltd                   CC                 CRISIL BB+     100     Reaffirmed
Shikhar Foods Pvt Ltd                   LT Loan            CRISIL BB+     25      Reaffirmed
Sonia Fisheries Pvt Ltd                 Proposed LT Bk     CRISIL BBB     30      Reaffirmed
                                        Loan Fac
Sood Steel Industries                   CC                 CRISIL B+      75      Upgraded from
                                                                                  CRISIL B
Sterling Impex - Delhi                  Overdraft          CRISIL B       100     Assigned
Sunil Garg and Co                       CC                 CRISIL BB-     71      Reaffirmed
Sunil Garg and Co                       Proposed CC Limit  CRISIL BB-     16.5    Reaffirmed
Super Plateck Pvt Ltd                   CC                 CRISIL B-      37.5    Reaffirmed
Sweta Minerals                          CC                 CRISIL BB-     35      Reaffirmed
The Cots Knits                          CC                 CRISIL B+      3.5     Upgraded from
                                                                                  CRISIL B
The Cots Knits                          Proposed LT Bk     CRISIL B+      72.4    Upgraded from
                                        Loan Fac                                  CRISIL B
Usha Shriram Enterprises Pvt Ltd        CC                 CRISIL BB-     210     Downgraded
                                                                                  from CRISIL BB
Usha Shriram Enterprises Pvt Ltd        Government Bill    CRISIL BB-     100     Downgraded
                                        Purchase                                  from CRISIL BB
Usha Shriram Enterprises Pvt Ltd        Proposed CC Limit  CRISIL BB-     48      Downgraded
                                                                                  from CRISIL BB
Vikas Organics Pvt Ltd                  CC                 CRISIL BB-     28.5    Reaffirmed
Vikas Organics Pvt Ltd                  Proposed LT Bk     CRISIL BB-     17      Reaffirmed
                                        Loan Fac
Wood Heaven Educational Society         Proposed LT Bk     CRISIL BB+     41.8    Reaffirmed
                                        Loan Fac
Wood Heaven Educational Society         TL                 CRISIL BB+     18.2    Reaffirmed
Zuri Hospitality Pvt Ltd                Proposed LT Bk     -              292.5   Withdrawal
                                        Loan Fac
--------------------------------------------------------------------------------------------
$: 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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