March 6, 2017 / 6:21 AM / 7 months ago

CRISIL ratings for Indian debt instruments-Mar 6

    Mar 6 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 3, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Agro Tech Foods Ltd                     BG~                CRISIL A1+     250     Reaffirmed
$ Fully-interchangeable with vendor financing; interchangeable with overdraft facility up to Rs
15 crore.
Agro Tech Foods Ltd                     LOC~               CRISIL A1+     50      Reaffirmed
~ Fully interchangeable with fund-based limits
Agro Tech Foods Ltd                     LOC & BG~          CRISIL A1+     250     Reaffirmed
~ Fully interchangeable with fund-based limits
Aqua Geno Exim                          Bill Discounting   CRISIL A4      42.5    Reaffirmed
B.N.R. Constructions                    BG                 CRISIL A4+     350     Reaffirmed
Kadinya Enterprise                      LOC                CRISIL A4      50      Reaffirmed
Krishna Udyog - New Delhi               BG                 CRISIL A4+     30      Reaffirmed
Manjira Machine Builders Pvt Ltd        BG                 CRISIL A4+     85      Assigned
Manjira Machine Builders Pvt Ltd        LOC                CRISIL A4+     10      Assigned
Menzies Aviation Bobba (Bangalore) Pvt  BG                 CRISIL A1      400     Reaffirmed
Ltd
MKU Ltd                                 BG                 CRISIL A3+     500     Reaffirmed
MKU Ltd                                 Buyer`s Credit     CRISIL A3+     220     Reaffirmed
MKU Ltd                                 Letter of Comfort  CRISIL A3+     105     Reaffirmed
MKU Ltd                                 Packing Credit     CRISIL A3+     240     Reaffirmed
P.S. Construction Pvt Ltd               BG                 CRISIL A4      100     Reaffirmed
POSCO- India Pune Processing Center Pvt ST Bk Fac          CRISIL A1+     7970    Upgraded from
Ltd                                                                               CRISIL A1
Roquette Riddhi Siddhi Pvt Ltd          Export Packing     CRISIL A1+     500     Upgraded from
                                        Credit++                                  CRISIL A1
++ Interchangeable with inland bills purchased - inland bills discounted/foreign usance bills
discounted - foreign bills purchased/packing credit in foreign currency/post-shipment credit in
foreign currency/working capital demand loans/buyer's credit/letter of credit/bank guarantee.
Roquette Riddhi Siddhi Pvt Ltd          Export Packing     CRISIL A1+     850     Upgraded from
                                        Credit@                                   CRISIL A1
@ Interchangeable with overdraft facility/short term loans facility/export bills discounting
facility/credit bills negotiated - discrepant facility/bond and guarantees facility/import
letter of credit/import invoice financing facility   
Roquette Riddhi Siddhi Pvt Ltd          Inland/Import LOC##CRISIL A1+     37.5    Upgraded from
                                                                                  CRISIL A1
##Interchangeable with acceptance related to buyer's credit/ performance bank
guarantee/financial bank guarantee.
Roquette Riddhi Siddhi Pvt Ltd          LOC@@              CRISIL A1+     100     Upgraded from
                                                                                  CRISIL A1
@@ Interchangeable with bank guarantees/letter of undertaking
Roquette Riddhi Siddhi Pvt Ltd          LOC@@@             CRISIL A1+     200     Upgraded from
                                                                                  CRISIL A1
@@@ Interchangeable with bank guarantee/letter of undertaking    
Roquette Riddhi Siddhi Pvt Ltd          Proposed ST Bk     CRISIL A1+     500     Upgraded from
                                        Loan Fac                                  CRISIL A1
Sri Balaji Assemblies and Plastics Pvt  BG                 CRISIL A4+     10      Reassigned
Ltd
Sri Balaji Assemblies and Plastics Pvt  LOC                CRISIL A4+     10      Reassigned
Ltd
Varalakshmi Starch Industries Pvt Ltd   LOC                CRISIL A4+     15      Assigned
Varalakshmi Starch Industries Pvt Ltd   BG                 CRISIL A4+     5       Assigned
Vatco Elec-Power Pvt Ltd                Bill Discounting   CRISIL A4      60      Reaffirmed
                                        under LOC
Vatco Elec-Power Pvt Ltd                LOC                CRISIL A4      45      Reaffirmed

LONG TERM RATINGS:
-------------------
Aathi Velan Mills                       CC                 CRISIL B+      65      Reaffirmed
Aathi Velan Mills                       Proposed WC Fac    CRISIL B+      15      Reaffirmed
Agro Tech Foods Ltd                     CC*                CRISIL AA-     350     Upgraded from
                                                                                  CRISIL A+
* Fully-interchangeable with working capital demand loan/export credit/bill discounting
Agro Tech Foods Ltd                     CC^                CRISIL AA-     600     Upgraded from
                                                                                  CRISIL A+
Agro Tech Foods Ltd                     WC Demand Loan#    CRISIL AA-     550     Upgraded from
                                                                                  CRISIL A+
# Interchangeable with overdraft facility up to Rs 10 crore
Agro Tech Foods Ltd                     WC Loan$           CRISIL AA-     420     Upgraded from
                                                                                  CRISIL A+
$ Fully-interchangeable with vendor financing; interchangeable with overdraft facility up to Rs
15 crore.
Anubandana Infratech Pvt Ltd            LT Loan            CRISIL D       70      Downgraded
                                                                                  from CRISIL B
Aqua Geno Exim                          Packing Credit     CRISIL B+      62.5    Reaffirmed
Aqua Geno Exim                          TL                 CRISIL B+      5       Reaffirmed
B.N.R. Constructions                    LT Loan            CRISIL BB-     30      Reaffirmed
B.N.R. Constructions                    Overdraft          CRISIL BB-     50      Reaffirmed
B.N.R. Constructions                    Proposed LT Bk     CRISIL BB-     70      Reaffirmed
                                        Loan Fac
Bitcorp Pvt Ltd                         CC                 CRISIL B-      127.5   Downgraded
                                                                                  from CRISIL B
Bitcorp Pvt Ltd                         Export Packing     CRISIL B-      70      Downgraded
                                        Credit                                    from CRISIL B
Bitcorp Pvt Ltd                         Proposed LT Bk     CRISIL B-      2.5     Downgraded
                                        Loan Fac                                  from CRISIL B
Bunge India Pvt Ltd                     CC*                CRISIL AA-     1850    Upgraded from
                                                                                  CRISIL A+
*Interchangeable with letter of credit, bank guarantee, pre-export advance, post-shipment
credit, overdraft, and other short-term facility.
Bunge India Pvt Ltd                     Proposed CC Limit  CRISIL AA-     6820    Upgraded from
                                                                                  CRISIL A+
CB Agros and Shopping Malls Pvt Ltd     CC                 CRISIL BBB-    350     Reaffirmed
CB Agros and Shopping Malls Pvt Ltd     Proposed LT Bk     CRISIL BBB-    2.5     Reaffirmed
                                        Loan Fac
Jhajjar Power Ltd                       LT Loan            CRISIL AA-     7810    Upgraded from
                                                                                  CRISIL A+
Jhajjar Power Ltd                       Proposed LT Bk     CRISIL AA-     2190    Upgraded from
                                        Loan Fac                                  CRISIL A+
JM Financial Products Ltd               CC                 CRISIL AA      2000    Reaffirmed
JM Financial Products Ltd               LT Bk Fac          CRISIL AA      2000    Reaffirmed
JM Financial Products Ltd               Proposed LT Bk     CRISIL AA      1000    Reaffirmed
                                        Loan Fac
Kadinya Enterprise                      CC                 CRISIL B+      50      Reaffirmed
Kaushalya Spinners                      Proposed LT Bk     CRISIL B+      7.2     Assigned
                                        Loan Fac
Kaushalya Spinners                      CC                 CRISIL B+      50      Assigned
Kaushalya Spinners                      LT Loan            CRISIL B+      52.8    Assigned
KHR Infrastructures Pvt Ltd             Proposed LT Bk     CRISIL B+      64.3    Upgraded from
                                        Loan Fac                                  CRISIL B
KHR Infrastructures Pvt Ltd             TL                 CRISIL B+      10.7    Upgraded from
                                                                                  CRISIL B
Krishna Udyog - New Delhi               CC                 CRISIL BB      50      Reaffirmed
Krishna Udyog - New Delhi               Drop Line          CRISIL BB      16      Reaffirmed
                                        Overdraft Fac
Krishna Udyog - New Delhi               Proposed LT Bk     CRISIL BB      8.2     Reaffirmed
                                        Loan Fac
Krishna Udyog - New Delhi               TL                 CRISIL BB      10      Reaffirmed
Mahadev Motors Pvt Ltd                  TL                 CRISIL BB-     12.5    Assigned
Mahadev Motors Pvt Ltd                  Inventory Funding  CRISIL BB-     110     Assigned
                                        Fac
Mahadev Motors Pvt Ltd                  Channel Financing  CRISIL BB-     40.5    Assigned
Mahadev Motors Pvt Ltd                  Drop Line          CRISIL BB-     27      Assigned
                                        Overdraft Fac
Manjira Machine Builders Pvt Ltd        CC                 CRISIL BB      55      Assigned
Manjira Machine Builders Pvt Ltd        LT Loan            CRISIL BB      46.5    Assigned
Manjira Machine Builders Pvt Ltd        Proposed LT Bk     CRISIL BB      23.5    Assigned
                                        Loan Fac
MKU Ltd                                 CC                 CRISIL BBB     350     Reaffirmed
MKU Ltd                                 TL                 CRISIL BBB     269.5   Reaffirmed
P.S. Construction Pvt Ltd               Overdraft          CRISIL B+      10      Reaffirmed
Prakasam Milk Producer Co. Ltd          CC                 CRISIL BB      100     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Prakasam Milk Producer Co. Ltd          Proposed LT Bk     CRISIL BB      60      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
PSR Silk Sarees India Pvt Ltd           CC                 CRISIL BB      400     Reaffirmed
PSR Silk Sarees India Pvt Ltd           LT Loan            CRISIL BB      149.5   Reaffirmed
Roquette Riddhi Siddhi Pvt Ltd          CC!                CRISIL AA-     750     Upgraded from
                                                                                  CRISIL A+
! Interchangeable with working capital demand loan/pre- and post-shipment credit (export packing
credit)/foreign usance bills discounted - foreign bills purchased/purchase bills - invoice
discounting/sales bills - invoice discounting.
Roquette Riddhi Siddhi Pvt Ltd          CC!!               CRISIL AA-     1000    Upgraded from
                                                                                  CRISIL A+
!! Interchangeable with inland bills purchased - inland bills discounted/working capital demand
loan/foreign usance bills discounted - foreign bills purchased/export packing credit/packing
credit in foreign currency/post shipment credit in foreign currency. 
Roquette Riddhi Siddhi Pvt Ltd          CC#                CRISIL AA-     281.2   Upgraded from
                                                                                  CRISIL A+
# Interchangeable With working capital demand loan/ pre-shipment export credit/post-shipment
export credit.  
Roquette Riddhi Siddhi Pvt Ltd          Overdraft^^        CRISIL AA-     531.3   Upgraded from
                                                                                  CRISIL A+
^^ Interchangeable with working capital demand loan/pre-shipment export credit/post-shipment
export credit/bank guarantee.    
Sri Balaji Assemblies and Plastics Pvt  CC                 CRISIL BB+     200     Reaffirmed
Ltd
Sri Balaji Assemblies and Plastics Pvt  Proposed CC Limit  CRISIL BB+     30      Reaffirmed
Ltd
Sri Balaji Assemblies and Plastics Pvt  Standby Line of    CRISIL BB+     15      Reaffirmed
Ltd                                     Credit
Sri Balaji Assemblies and Plastics Pvt  Proposed LT Bk     CRISIL BB+     25      Reaffirmed
Ltd                                     Loan Fac
Sri Venkatalakshmi Spinners Pvt Ltd     CC                 CRISIL BB-     65      Downgraded
                                                                                  from CRISIL BB
Sri Venkatalakshmi Spinners Pvt Ltd     LT Loan            CRISIL BB-     34.4    Downgraded
                                                                                  from CRISIL BB
Sundaram Multi Pap Ltd                  CC                 CRISIL D       202     Downgraded
                                                                                  from CRISIL C
Sundaram Multi Pap Ltd                  Corporate Loan     CRISIL D       157.5   Downgraded
                                                                                  from CRISIL C
Sundaram Multi Pap Ltd                  Funded Interest TL CRISIL D       54.3    Downgraded
                                                                                  from CRISIL C
Sundaram Multi Pap Ltd                  Proposed LT Bk     CRISIL D       276.2   Downgraded
                                        Loan Fac                                  from CRISIL C
Tech Sutre Industries Ltd               TL                 CRISIL BB      110     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Tech Sutre Industries Ltd               WC Fac             CRISIL BB      70      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Varalakshmi Starch Industries Pvt Ltd   Standby LOC        CRISIL BB      20      Assigned
Varalakshmi Starch Industries Pvt Ltd   CC                 CRISIL BB      207     Assigned
Vatco Elec-Power Pvt Ltd                CC                 CRISIL B+      75      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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