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CRISIL ratings for Indian debt instruments-Mar 3
March 3, 2017 / 8:06 AM / 8 months ago

CRISIL ratings for Indian debt instruments-Mar 3

    Mar 3 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 2, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Antony Commercial Vehicles Pvt Ltd      BG                 CRISIL A4+     20      Assigned
Arihant Steels - Mumbai                 LOC                CRISIL A4+     200     Assigned
Croda India Company Pvt Ltd             LOC & BG           CRISIL A1      100     Reaffirmed
Divyalakshmi Textiles Pvt Ltd           LOC & BG           CRISIL A4+     45      Reaffirmed
Jayalakshmi Textiles Pvt Ltd            BG                 CRISIL A4+     7.5     Reaffirmed
Jayalakshmi Textiles Pvt Ltd            Bill Negotiation   CRISIL A4+     5       Assigned
Jayalakshmi Textiles Pvt Ltd            Foreign Bill       CRISIL A4+     10      Assigned
                                        Negotiation
Jayalakshmi Textiles Pvt Ltd            Import LOC Limit   CRISIL A4+     50      Assigned
Jayalakshmi Textiles Pvt Ltd            Inland/Import LOC  CRISIL A4+     30      Assigned
JM Financial Capital Ltd                ST Debt            CRISIL A1+     10000   Assigned
K. T. M. Maligai                        Overdraft          CRISIL A4+     60      Assigned
LMD Educational and Research Foundation Overdraft          CRISIL A4+     20      Reaffirmed
Mundhra Jewellers                       Proposed ST Bk     CRISIL A4+     100     Reaffirmed
                                        Loan Fac
Propack Industries (Kunal Plastics Pvt  BG                 CRISIL A4+     3       Upgraded from
Ltd)                                                                              CRISIL A4
Propack Industries (Kunal Plastics Pvt  LOC                CRISIL A4+     30      Upgraded from
Ltd)                                                                              CRISIL A4
Propack Industries (Kunal Plastics Pvt  Proposed ST Bk     CRISIL A4+     78      Upgraded from
Ltd)                                    Loan Fac                                  CRISIL A4
RSI Softech India Pvt Ltd               BG                 CRISIL A4      20      Reaffirmed
Sandvik Asia Pvt Ltd                    LOC & BG@          CRISIL A1+     2063    Reaffirmed
@Short-term limit and PCFC limit are interchangeable.
Sandvik Asia Pvt Ltd                    Packing Credit#    CRISIL A1+     1892    Reaffirmed
#Buyer's credit fully interchangeable with packing credit 
Tamilnad Mercantile Bank Ltd            CD                 CCR A1+        10000   Reaffirmed
Vishal Surgical Equipment Company Pvt   BG                 CRISIL A4+     180     Reaffirmed
Ltd
Vishal Surgical Equipment Company Pvt   LOC                CRISIL A4+     20      Reaffirmed
Ltd
Yazaki India Pvt Ltd                    LOC*               CRISIL A3+     140     Reaffirmed
*Interchangeable with bank guarantee


LONG TERM RATINGS:
-------------------
Antony Commercial Vehicles Pvt Ltd      CC                 CRISIL BB-     40      Upgraded from
                                                                                  CRISIL B+
Antony Commercial Vehicles Pvt Ltd      Proposed LT Bk     CRISIL BB-     160     Upgraded from
                                        Loan Fac                                  CRISIL B+
Antony Commercial Vehicles Pvt Ltd      Inventory Funding  CRISIL BB-     100     Upgraded from
                                        Fac                                       CRISIL B+
Antony Commercial Vehicles Pvt Ltd      Electronic Dealer  CRISIL BB-     230     Upgraded from
                                        Financing                                 CRISIL B+
                                        Scheme(e-DFS)
Arihant Steels - Mumbai                 CC*                CRISIL BB+     100     Assigned
*Interchangeable with LC
Croda India Company Pvt Ltd             CC*                CRISIL A+      140     Upgraded from
                                                                                  CRISIL A
* Fully convertible into packing credit, supplier’s credit, and other fund-based facilities
Crown Worldwide Movers Pvt Ltd          Foreign Currency TLCRISIL A-      284.5   Upgraded from
                                                                                  CRISIL BBB+
Crown Worldwide Movers Pvt Ltd          Proposed LT Bk     CRISIL A-      465.5   Upgraded from
                                        Loan Fac                                  CRISIL BBB+
Devki Nandan J. Gupta Metals LLP        LOC                CRISIL BB+     500     Reaffirmed
Divyalakshmi Textiles Pvt Ltd           CC                 CRISIL BB      95      Upgraded from
                                                                                  CRISIL BB-
Divyalakshmi Textiles Pvt Ltd           Proposed CC Limit  CRISIL BB      60      Upgraded from
                                                                                  CRISIL BB-
Excel Crop Care Ltd                     CC*                CRISIL AA-     1162.5  Upgraded from
                                                                                  CRISIL A+
*Interchangeable with bill discounting and working capital demand loan facilities.
Excel Crop Care Ltd                     CC**               CRISIL AA-     -       Upgraded from
                                                                                  CRISIL A+
**Interchangeable with bill discounting and working capital demand loan facilities. Fully
fungible.
Guru Kirpa Agro Industries - Firozpur   CC                 CRISIL B+      60      Upgraded from
                                                                                  CRISIL B
Guru Kirpa Agro Industries - Firozpur   TL                 CRISIL B+      40      Upgraded from
                                                                                  CRISIL B
Guru Kirpa Agro Industries - Firozpur   Warehouse FinancingCRISIL B+      20      Upgraded from
                                                                                  CRISIL B
Indian Sucrose Ltd                      CC                 CRISIL BB-     1500    Upgraded from
                                                                                  CRISIL B+
Jawandamal Dhannamal                    LOC                CRISIL BB+     600     Reaffirmed
Jawandamal Dhannamal                    Proposed LT Bk     CRISIL BB+     50      Reaffirmed
                                        Loan Fac
Jayalakshmi Textiles Pvt Ltd            CC                 CRISIL BB      90      Upgraded from
                                                                                  CRISIL BB-
Jayalakshmi Textiles Pvt Ltd            TL                 CRISIL BB      37.3    Upgraded from
                                                                                  CRISIL BB-
Jayalakshmi Textiles Pvt Ltd            Proposed LT Bk     CRISIL BB      35.2    Upgraded from
                                        Loan Fac                                  CRISIL BB-
JM Financial Capital Ltd                NCD                CRISIL AA      2000    Assigned
JP Morgan Securities India Pvt Ltd      NCD                CRISIL AAA     20000   Upgraded from
                                                                                  CRISIL AA+
JP Morgan Securities India Pvt Ltd      NCD                CRISIL AAA     20000   Upgraded from
                                                                                  CRISIL AA+
K. T. M. Maligai                        Proposed LT Bk     CRISIL BB-     30      Assigned
                                        Loan Fac
LMD Educational and Research Foundation TL                 CRISIL BB-     182.7   Downgraded
                                                                                  from CRISIL BB
Milan Infrastructures and Developers    TL                 CRISIL D       80      Downgraded
Pvt Ltd                                                                           from CRISIL B+
Mother India Agrofoods Pvt Ltd          CC                 CRISIL BB-     62      Assigned
Mother India Agrofoods Pvt Ltd          TL                 CRISIL BB-     98.2    Assigned
Mundhra Jewellers                       CC                 CRISIL BB+     250     Upgraded from
                                                                                  CRISIL BB
Mundhra Jewellers                       Proposed LT Bk     CRISIL BB+     150     Upgraded from
                                        Loan Fac                                  CRISIL BB
National Securities Clearing            Corporate Credit   CCR AAA        -       Outlook
Corporation Ltd                         Rating                                    assigned
Propack Industries (Kunal Plastics Pvt  CC                 CRISIL BB      76.5    Upgraded from
Ltd)                                                                              CRISIL B+
Propack Industries (Kunal Plastics Pvt  TL                 CRISIL BB      13      Upgraded from
Ltd)                                                                              CRISIL B+
Rajarshi Cars Pvt Ltd                   Drop Line          CRISIL B+      105.5   Reaffirmed
                                        Overdraft Fac
Rajarshi Cars Pvt Ltd                   Electronic Dealer  CRISIL B+      80      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Ramada Alleppey                         CC                 CRISIL D       15      Reaffirmed
Ramada Alleppey                         LT Loan            CRISIL D       175     Reaffirmed
Reproscan Tech Park Llp                 Proposed LT Bk     CRISIL BBB-    413     Upgraded from
                                        Loan Fac                                  CRISIL BB
Reproscan Tech Park Llp                 TL                 CRISIL BBB-    1837    Upgraded from
                                                                                  CRISIL BB
RSI Softech India Pvt Ltd               CC                 CRISIL B+      45      Reaffirmed
RSI Softech India Pvt Ltd               LT Loan            CRISIL B+      2.2     Reaffirmed
RSI Softech India Pvt Ltd               Proposed FB Bk     CRISIL B+      17.8    Reaffirmed
                                        Limits
Sandvik Asia Pvt Ltd                    CC*                CRISIL AA      1258    Upgraded from
                                                                                  CRISIL AA-
*Fully interchangeable with short-term loan
Sardar Industries                       CC                 CRISIL B+      80      Reaffirmed
Sardar Industries                       Proposed LT Bk     CRISIL B+      2.5     Reaffirmed
                                        Loan Fac
Sardar Industries                       TL                 CRISIL B+      17.5    Reaffirmed
Shri Sai Hasti Agro                     CC                 CRISIL B+      50      Reaffirmed
Shri Sai Hasti Agro                     Proposed LT Bk     CRISIL B+      3.7     Reaffirmed
                                        Loan Fac
Shri Sai Hasti Agro                     TL                 CRISIL B+      9.3     Reaffirmed
Songwon Specialty Chemicals - India Pvt Overdraft          CRISIL BBB     250     Upgraded from
Ltd                                                                               CRISIL BBB-
Songwon Specialty Chemicals - India Pvt Proposed LT Bk     CRISIL BBB     292     Upgraded from
Ltd                                     Loan Fac                                  CRISIL BBB-
South Central Railway Employees Co-op   LT Bk Fac          CRISIL BBB+    1250    Assigned
Credit Society Ltd
Southern Educational and Rural          CC                 CRISIL BB      50      Reaffirmed
Development Society
Southern Educational and Rural          LT Loan            CRISIL BB      15      Reaffirmed
Development Society
Sunrise Foam Product Pvt Ltd            CC                 CRISIL BB-     72      Upgraded from
                                                                                  CRISIL B+
Sunrise Foam Product Pvt Ltd            Proposed LT Bk     CRISIL BB-     10.5    Upgraded from
                                        Loan Fac                                  CRISIL B+
Unity Fabtext Industries Pvt Ltd        CC                 CRISIL B+      15      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Unity Fabtext Industries Pvt Ltd        LOC                CRISIL B+      6       Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Unity Fabtext Industries Pvt Ltd        Proposed LT Bk     CRISIL B+      19      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Unity Fabtext Industries Pvt Ltd        TL                 CRISIL B+      60      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Vishal Surgical Equipment Company Pvt   Overdraft          CRISIL BB      50      Reaffirmed
Ltd
Wave Industries Pvt Ltd                 Proposed LT Bk     CRISIL BBB     3000    Assigned
                                        Loan Fac
Yazaki India Pvt Ltd                    CC                 CRISIL BBB     300     Reaffirmed
Yazaki India Pvt Ltd                    LT Loan            CRISIL BBB     90      Reaffirmed

--------------------------------------------------------------------------------------------
$: Rating watch with positive implication
#: Rating Watch with Developing implications
@: Rating Watch with Negative Implications
%: Rating under Credit Watch
wd -Rating Stands Withdrawn
sp -Rating Suspended
pp -Principal Protected
pn -Principal Not Protected

CRISIL may apply + or - signs for ratings to reflect a comparative standing within the category.

BG-Bank Guarantee; CC-Cash Credit; CCPS-Cumulative Convertible Preference Share; CD-Certificate
of Deposit; CLO-Collateralized Loan Obligation; CPA-Claims Paying Ability; CP-Commercial
Paper; CPS-convertible preference shares; CRPS- Cumulative Redeemable Convertible Preference
shares; DDB-Deep Discount Bond; EPBI-Exchange premium bond; FBL-Fund Based Limits; FRB/FRN
-Floating Rate Bond/Note; ICD -Inter Corporate Deposit; ITD-Immediate Term Debt; LOC-Letter of
Credit; LT -Long Term; LTB -Long Term Borrowing; LTD -Long Term Debt; MOCD-multiple option
convertible debenture; MTD -Medium term Debenture; MTN-medium term notes; NCD(SO) -
Non-Convertible Debenture-(Structured Obligation); NCD-Non-convertible Debentures; NCRB-Non
Convertible Redeemable Bonds; NM-Not Meaningful; OCD-optionally convertible debenture; OD-Over
Draft; OFCD-Optionally Fully Convertible Debenture; PCD-Partially Convertible Debenture;
PCN-partly convertible notes; PCPS-Partly Convertible Preference Share; POCD-partly optional;
PP-privately placed; PSPC-Post Shipment & Packing Credit; PS-Preference Shares; PTC-Pass
Through Certificates; RPS-Redeemable Preference Shares; SCPN-secured convertible preference
notes; SDO-Structured Debt Obligation; SLR-Statutory Liquidity Ratio; SO-Structured
Obligation; SPCD - Secured Partly Convertible Debentures; SPN-secured premium notes; STB-Short
Term Bond; STD-Short Term Debentures; ST-Short Term; Sub. Bonds-Subordinate Bonds; TB-Taxable
Bond; TFB-Tax Free Bond; TL-Term Loan; TOCD-triple option convertible debentures.

(Mumbai Rate Reporting Unit + 91 22 6180 7222 / 3317 7222 , E-mail at
rru.data@thomsonreuters.com)

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