March 9, 2017 / 6:34 AM / 5 months ago

CRISIL ratings for Indian debt instruments-Mar 9

20 Min Read

   Mar 9 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of March 8, 2017.


COMPANY                               INSTRUMENT           RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                ----------           ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aster DM Healthcare Ltd                 BG                 CRISIL A2+     300     Assigned
Aunde India Ltd                         BG                 CRISIL A4+     5       Reaffirmed
Bangalore Paper Store                   LOC                CRISIL A4      95      Reaffirmed
Bhageria Industries Ltd                 Foreign Bill       CRISIL A3      180     Notice of
                                        Discounting                               Withdrawal
Bhageria Industries Ltd                 LOC                CRISIL A3      80      Notice of
                                                                                  Withdrawal
Bhageria Industries Ltd                 Packing Credit     CRISIL A3      40      Notice of
                                                                                  Withdrawal
Empire Silk Wvg Industries              BG                 CRISIL A4+     2.5     Reaffirmed
Empire Silk Wvg Industries              Export Packing     CRISIL A4+     27.5    Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Hallmark Automotive Pvt Ltd             BG                 CRISIL A3      3       Notice of
                                                                                  Withdrawal
Hallmark Automotive Pvt Ltd             Overdraft          CRISIL A3      50      Notice of
                                                                                  Withdrawal
JNV Vira Engineering Pvt Ltd            BG                 CRISIL A4      70      Reaffirmed
Mepro Pharmaceuticals Pvt Ltd           BG                 CRISIL A3      2       Reaffirmed
Mepro Pharmaceuticals Pvt Ltd           LOC#               CRISIL A3      15      Reaffirmed
# Including sublimit for buyer's credit up to Rs 1.50 crore
Muthoot Finance Ltd                     Rs.4000 Crore ST   CRISIL A1+     40000   Reaffirmed
                                        Debt
Nanz Med Science Pharma Pvt Ltd         BG                 CRISIL A4+     25      Reaffirmed
Nanz Med Science Pharma Pvt Ltd         LOC                CRISIL A4+     50      Reaffirmed
Nanz Med Science Pharma Pvt Ltd         Packing Credit in  CRISIL A4+     20      Reaffirmed
                                        Foreign Currency
Pawar Patkar Constructions Pvt Ltd      BG                 CRISIL A3      490     Upgraded from
                                                                                  CRISIL A4+
Revive Construction Company India Pvt   BG                 CRISIL A4      150     Reaffirmed
Ltd
Shri Harikrishna Cotton Mills Pvt Ltd   BG                 CRISIL A4+     7       Upgraded from
                                                                                  CRISIL A4
Spictex Coton Mills Pvt Ltd             BG                 CRISIL A4+     9.5     Upgraded from
                                                                                  CRISIL A4
Sri Devaraaja Agro Industries           LOC                CRISIL A3      30      Assigned
Tech Sutre Industries Ltd               BG                 CRISIL A4+     30      Assigned
Thriive Cars                            Overdraft          CRISIL A4+     9       Upgraded from
                                                                                  CRISIL A4

LONG TERM RATINGS:
-------------------
Altrade Minerals Pvt Ltd                CC                 CRISIL B+      25      Assigned
Altrade Minerals Pvt Ltd                Export Packing     CRISIL B+      200     Assigned
                                        Credit
Altrade Minerals Pvt Ltd                Proposed LT Bk     CRISIL B+      275     Assigned
                                        Loan Fac
Amman Sago Factory                      CC                 CRISIL B+      70      Reaffirmed
Amman Sago Factory                      LT Loan            CRISIL B+      15      Reaffirmed
Amman Sago Factory                      Rupee TL           CRISIL B+      35      Assigned
Amman Sago Factory                      Proposed CC Limit  CRISIL B+      30      Assigned
Aster DM Healthcare Ltd                 CC/ Overdraft Fac  CRISIL A-      800     Reaffirmed
Aster DM Healthcare Ltd                 Corporate Loan     CRISIL A-      460     Reaffirmed
Aster DM Healthcare Ltd                 LT Loan            CRISIL A-      5150    Reaffirmed
Aunde India Ltd                         Buyer`s Credit     CRISIL BB+     70      Reaffirmed
Aunde India Ltd                         CC                 CRISIL BB+     215     Reaffirmed
Aunde India Ltd                         Proposed LT Bk     CRISIL BB+     3.9     Reaffirmed
                                        Loan Fac
Aunde India Ltd                         TL                 CRISIL BB+     206.1   Reaffirmed
Bangalore Paper Store                   CC                 CRISIL B+      40      Reaffirmed
Birla Sun Life                          Birla Sun Life     CRISIL AA+mfs  -       Notice of
                                        Dynamic Bond Fund                         Withdrawal
Chandana Brothers Shopping Mall Pvt Ltd CC                 CRISIL BBB     790     Reaffirmed
Chandana Brothers Shopping Mall Pvt Ltd Corporate Loan     CRISIL BBB     126     Reaffirmed
Chandana Brothers Shopping Mall Pvt Ltd TL                 CRISIL BBB     64      Assigned
Chandana Brothers Textiles and          CC                 CRISIL BBB     760     Reaffirmed
Jewellers Pvt Ltd
Clear Polyplast India Pvt Ltd           CC                 CRISIL BBB     110     Reaffirmed
Clear Polyplast India Pvt Ltd           TL                 CRISIL BBB     48      Reaffirmed
Clear Polyplast India Pvt Ltd           Proposed LT Bk     CRISIL BBB     142     Reaffirmed
                                        Loan Fac
Crystal Containers                      CC                 CRISIL BBB     30      Reaffirmed
Edelweiss Agri Value Chain Ltd          Proposed LT Bk     CRISIL AA      10000   Reaffirmed
                                        Loan Fac 
Edelweiss Finance and Investments Ltd   Proposed LT Bk     CRISIL AA      5000    Reaffirmed
                                        Loan Fac
Edelweiss Housing Finance Ltd           LT Bk Fac          CRISIL AA      7150    Reaffirmed
Edelweiss Housing Finance Ltd           Overdraft          CRISIL AA      1200    Reaffirmed
Edelweiss Housing Finance Ltd           Proposed LT Bk     CRISIL AA      5000    Assigned
                                        Loan Fac
Empire Silk Wvg Industries              CC                 CRISIL BB+     7.5     Reaffirmed
Empire Silk Wvg Industries              Proposed LT Bk     CRISIL BB+     6.1     Reaffirmed
                                        Loan Fac
Empire Silk Wvg Industries              TL                 CRISIL BB+     36.4    Reaffirmed
Fit Tech Industries Pvt Ltd             CC*                CRISIL BB-     80      Reaffirmed
* LC amounting to Rs.2.5 Cr is a sublimit of CC
G. R. Woollen Mills                     CC                 CRISIL BB-     80      Assigned
Hallmark Automotive Pvt Ltd             CC                 CRISIL BBB-    15      Notice of
                                                                                  Withdrawal
Hallmark Automotive Pvt Ltd             Channel Financing  CRISIL BBB-    555     Notice of
                                                                                  Withdrawal
IV County Pvt Ltd                       TL                 CRISIL BB      3000    Upgraded from
                                                                                  CRISIL BB-
JNV Vira Engineering Pvt Ltd            CC                 CRISIL B-      80      Reaffirmed
JNV Vira Engineering Pvt Ltd            TL                 CRISIL B-      30      Reaffirmed
Kolte-Patil I-Ven Townships (Pune) Ltd  Drop Line          CRISIL A       850     Reaffirmed
                                        Overdraft Fac
Kolte-Patil I-Ven Townships (Pune) Ltd  TL                 CRISIL A       650     Reaffirmed
Kumar Audyogik Vikas Pvt Ltd            CC                 CRISIL B-      160     Downgraded
                                                                                  from CRISIL B+
Kumar Audyogik Vikas Pvt Ltd            TL                 CRISIL B-      30      Downgraded
                                                                                  from CRISIL B+
Mehta Gold                              CC                 CRISIL B+      140     Reaffirmed
Mehta Gold                              Proposed LT Bk     CRISIL B+      50      Reaffirmed
                                        Loan Fac
Mepro Pharmaceuticals Pvt Ltd           CC*                CRISIL BBB-    35      Reaffirmed
*Including sublimit of Rs 1 crore for export packing credit, and 
of Rs 1 crore for foreign bill purchase/negotiation
Mepro Pharmaceuticals Pvt Ltd           Proposed LT Bk     CRISIL BBB-    73      Reaffirmed
                                        Loan Fac
Muthoot Finance Ltd                     Rs.50 Crore        CRISIL AA      500     Assigned
                                        Subordinated Debt
Muthoot Finance Ltd                     Rs.1950 Crore NCDs CRISIL AA      19500   Assigned
Muthoot Finance Ltd                     Rs.693.28 Crore    CRISIL AA      6932.8  Withdrawal
                                        NCDs
Muthoot Finance Ltd                     Rs.31.78 Crore     CRISIL AA      317.8   Reaffirmed
                                        Subordinate Debt
                                        (Reduced from Rs.100 Crore)
Muthoot Finance Ltd                     Rs.365.27 Crore    CRISIL AA      3652.7  Reaffirmed
                                        NCDs (Reduced from
                                        Rs.500 Crore)
Muthoot Finance Ltd                     Rs.23.0392 Crore   CRISIL AA      230.392 Reaffirmed
                                        Subordinate Debt
                                        (Reduced from Rs.500 Crore)
Muthoot Finance Ltd                     Rs.3.78 Crore NCDs CRISIL AA      37.8    Reaffirmed
                                        (Reduced from
                                        Rs.456.24 Crore
Muthoot Finance Ltd                     Rs.3.92 Crore NCDs CRISIL AA      39.2    Reaffirmed
                                        (Reduced from
                                        Rs.276.71 Crore)
Muthoot Finance Ltd                     Rs.5.18 Crore NCDs CRISIL AA      51.8    Reaffirmed
                                        (Reduced from
                                        Rs.279.07 Crore)
Muthoot Finance Ltd                     Rs.76.89 Crore     CRISIL AA      768.9   Reaffirmed
                                        NCDs (Reduced from
                                        Rs.259.75 Crore) 
Muthoot Finance Ltd                     Rs.92.62 Crore     CRISIL AA      936.2   Reaffirmed
                                        NCDs (Reduced from
                                        Rs.274.94 Crore)
Muthoot Finance Ltd                     Rs.91.02 Crore     CRISIL AA      910.2   Reaffirmed
                                        NCDs (Reduced from
                                        Rs.459.32 Crore)
Muthoot Finance Ltd                     Rs.500 Crore NCDs  CRISIL AA      5000    Reaffirmed
Muthoot Finance Ltd                     Rs.100 Crore       CRISIL AA      1000    Reaffirmed
                                        Subordinate Bond
Muthoot Finance Ltd                     Rs.1300 Crore NCDs CRISIL AA      13000   Reaffirmed
Muthoot Finance Ltd                     Rs.43.7571 Crore   CRISIL AA      437.571 Reaffirmed
                                        Subordinate Bond
Muthoot Finance Ltd                     Rs.23.2879 Crore   CRISIL AA      232.879 Reaffirmed
                                        Subordinate Bond
Muthoot Finance Ltd                     Rs.20.93 Crore     CRISIL AA      209.3   Reaffirmed
                                        Subordinate Bond
Nanz Med Science Pharma Pvt Ltd         CC                 CRISIL BB+     90      Upgraded from
                                                                                  CRISIL BB
Nanz Med Science Pharma Pvt Ltd         Proposed LT Bk     CRISIL BB+     40      Upgraded from
                                        Loan Fac                                  CRISIL BB
Nanz Med Science Pharma Pvt Ltd         TL                 CRISIL BB+     32      Upgraded from
                                                                                  CRISIL BB
Pawar Patkar Constructions Pvt Ltd      CC                 CRISIL BBB-    80      Upgraded from
                                                                                  CRISIL BB+
Power Finance Corporation Ltd           CC*                CRISIL AAA     100000  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.10000 crore. 
Power Finance Corporation Ltd           TL                 CRISIL AAA     110000  Reaffirmed
Revive Construction Company India Pvt   Overdraft          CRISIL B+      200     Upgraded from
Ltd                                                                               CRISIL B-
Revive Construction Company India Pvt   Proposed LT Bk     CRISIL B+      50      Assigned
Ltd                                     Loan Fac
Shre Devaraja Agro Aseptic Industries   CC                 CRISIL BBB-    75      Assigned
Shre Devaraja Agro Aseptic Industries   Export Packing     CRISIL BBB-    5       Assigned
                                        Credit
Shri Harikrishna Cotton Mills Pvt Ltd   CC                 CRISIL BB-     200     Upgraded from
                                                                                  CRISIL B+
Shri Harikrishna Cotton Mills Pvt Ltd   Proposed LT Bk     CRISIL BB-     233     Upgraded from
                                        Loan Fac                                  CRISIL B+
Shri Harikrishna Cotton Mills Pvt Ltd   TL                 CRISIL BB-     110     Upgraded from
                                                                                  CRISIL B+
Sindhujaa Residency                     Proposed LT Bk     CRISIL B+      50      Assigned
                                        Loan Fac
Spictex Coton Mills Pvt Ltd             CC                 CRISIL BB-     250     Upgraded from
                                                                                  CRISIL B+
Spictex Coton Mills Pvt Ltd             Corporate Loan     CRISIL BB-     72.5    Upgraded from
                                                                                  CRISIL B+
Spictex Coton Mills Pvt Ltd             LT Loan            CRISIL BB-     37.5    Upgraded from
                                                                                  CRISIL B+
Spictex Coton Mills Pvt Ltd             Proposed LT Bk     CRISIL BB-     205.5   Upgraded from
                                        Loan Fac                                  CRISIL B+
Sri Devaraaja Agro Industries           CC                 CRISIL BBB-    190     Assigned
Sri Devaraaja Agro Industries           LT Loan            CRISIL BBB-    10      Assigned
Sri Ram Spinning Mills Ltd              LT Loan            CRISIL B-      34      Assigned
Sri Ram Spinning Mills Ltd              CC                 CRISIL B-      102     Assigned
Sri Ram Spinning Mills Ltd              Corporate Loan     CRISIL B-      24      Assigned
Team Interventure Exports India Pvt Ltd Foreign Bill       CRISIL D       1270    Reaffirmed
                                        Purchase
Team Interventure Exports India Pvt Ltd Proposed ST Bk     CRISIL D       130     Reaffirmed
                                        Loan Fac
Tech Sutre Industries Ltd               CC                 CRISIL BB      120     Reaffirmed
Tech Sutre Industries Ltd               WC Fac             CRISIL BB      70      Reaffirmed
Tech Sutre Industries Ltd               TL                 CRISIL BB      123.4   Reaffirmed
Thriive Cars                            Drop Line          CRISIL BB-     7.6     Upgraded from
                                        Overdraft Fac                             CRISIL B+
Thriive Cars                            Inventory Funding  CRISIL BB-     35      Upgraded from
                                        Fac                                       CRISIL B+
Thriive Cars                            LT Loan            CRISIL BB-     7.3     Upgraded from
                                                                                  CRISIL B+
Thriive Cars                            Proposed LT Bk     CRISIL BB-     12.1    Upgraded from
                                        Loan Fac                                  CRISIL B+
Vishaal Promoters Pvt Ltd               Lease Rental       CRISIL B-      350     Assigned
                                        Discounting Loan
--------------------------------------------------------------------------------------------
$: 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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