March 17, 2017 / 6:42 AM / 5 months ago

CRISIL ratings for Indian debt instruments-Mar 17

   Mar 17 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 16, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A K Lumbers Ltd                         LOC                CRISIL A4      90      Reaffirmed
Ace Kudale Car Pvt Ltd                  BG                 CRISIL A4      10      Reaffirmed
Dadi Ji Steels Pvt Ltd                  BG                 CRISIL A3+     30      Upgraded from
                                                                                  CRISIL A3
Dadi Ji Steels Pvt Ltd                  LOC                CRISIL A3+     40      Upgraded from
                                                                                  CRISIL A3
Dadi Ji Steels Pvt Ltd                  Standby Line of    CRISIL A3+     13      Upgraded from
                                        Credit                                    CRISIL A3
Dhairya International                   BG                 CRISIL A4      40      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Digi Drives Pvt Ltd                     BG                 CRISIL A4+     20      Reaffirmed
International Trading Corporation       LOC                CRISIL A3      70      Reaffirmed
Kajaria Iron And Steel Company Pvt Ltd  Packing Credit     CRISIL A4      80      Reaffirmed
                                        (pre-shipment
                                        credit)
Kajaria Iron And Steel Company Pvt Ltd  Post Shipment      CRISIL A4      50      Reaffirmed
                                        Credit
Kokuyo Camlin Ltd                       Bill Discounting   CRISIL A1      300     Reaffirmed
Kokuyo Camlin Ltd                       Buyer`s Credit     CRISIL A1      24      Reaffirmed
Kokuyo Camlin Ltd                       WC Demand Loan     CRISIL A1      510     Reaffirmed
La Renon Healthcare Pvt Ltd             Sales Bill         CRISIL A2      150     Assigned
                                        Discounting
Mahle Behr India Pvt Ltd                BG                 CRISIL A1      100     Upgraded from
                                                                                  CRISIL A2+
Mahle Behr India Pvt Ltd                Buyer`s Credit     CRISIL A1      100     Upgraded from
                                                                                  CRISIL A2+
Mahle Behr India Pvt Ltd                LOC                CRISIL A1      50      Upgraded from
                                                                                  CRISIL A2+
Medicamen Biotech Ltd                   BG                 CRISIL A4+     60      Upgraded from
                                                                                  CRISIL A4
Medicamen Biotech Ltd                   LOC                CRISIL A4+     140     Upgraded from
                                                                                  CRISIL A4
OSD Coke Pvt Ltd                        BG                 CRISIL A3      50      Reaffirmed
OSD Coke Pvt Ltd                        LOC                CRISIL A3      50      Reaffirmed
Print-Tech Offset Pvt Ltd               Capex LOC          CRISIL A4      52.5    Reaffirmed
PRS Tyres Ltd                           Proposed ST Bk     CRISIL A4+     2       Assigned
                                        Loan Fac
PRS Tyres Ltd                           LOC                CRISIL A4+     60      Assigned
Rajul Builders                          BG                 CRISIL A4+     0.8     Reaffirmed
Rajul Builders                          Overdraft          CRISIL A4+     11.5    Assigned
Ramdev Chemical Industries              Packing Credit     CRISIL A3+     206.3   Downgraded
                                                                                  from CRISIL
                                                                                  A3
Ranisati Roller Flour Mills Pvt Ltd     LOC                CRISIL A4+     15      Reaffirmed
S V Distributors Pvt Ltd                BG                 CRISIL A4+     10      Reaffirmed
Savino Ceramic Pvt Ltd                  BG                 CRISIL A4      14      Reaffirmed
Sharma Construction - Ghaziabad         Proposed BG        CRISIL A4+     142.5   Assigned
Sharma Construction - Ghaziabad         BG                 CRISIL A4+     90      Assigned
Somany Ceramics Ltd                     LOC                CRISIL A1+     900     Reaffirmed
Soubhik Exports Ltd                     Overdraft          CRISIL A4+     200     Upgraded from
                                                                                  CRISIL A4
Soubhik Exports Ltd                     Post Shipment      CRISIL A4+     200     Upgraded from
                                        Credit                                    CRISIL A4
Soubhik Exports Ltd                     Pre Shipment CreditCRISIL A4+     100     Assigned
Satyam Ispat (North East) Ltd           BG                 CRISIL D       5       Downgraded
                                                                                  from CRISIL
                                                                                  A4
Satyam Ispat (North East) Ltd           LOC                CRISIL D       95      Downgraded
                                                                                  from CRISIL
                                                                                  A4
Sri Laxmi Timbers Pvt Ltd               LOC                CRISIL A4+     350     Reaffirmed
Sri Laxmi Timbers Pvt Ltd               Overdraft          CRISIL A4+     27      Reaffirmed
Sri Siddhi Freezers and Exporters Pvt   Overdraft          CRISIL A4      1       Reaffirmed
Ltd
Sri Siddhi Freezers and Exporters Pvt   Packing Credit     CRISIL A4      130     Reaffirmed
Ltd
Suyog Electricals Ltd                   BG                 CRISIL A3+     180     Reaffirmed
Suyog Electricals Ltd                   Import LOC Limit   CRISIL A3+     10      Reaffirmed
T Line Infra Pvt Ltd                    BG                 CRISIL A4      5       Assigned
Tonza Paper LLP                         BG                 CRISIL A4      10      Reassigned
Turbhe Chemicals Pvt Ltd                BG                 CRISIL A4+     4       Assigned
Vinaykumar & Co.                        BG                 CRISIL A4      40      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Vital Chemtech LLP                      Import LOC Limit   CRISIL A4+     70      Reaffirmed


LONG TERM RATINGS:
-------------------
A K Lumbers Ltd                         CC                 CRISIL B       45      Reaffirmed
A K Lumbers Ltd                         Proposed LT Bk     CRISIL B       10      Reaffirmed
                                        Loan Fac
Ace Kudale Car Pvt Ltd                  CC                 CRISIL B+      35      Upgraded from
                                                                                  CRISIL B
Ace Kudale Car Pvt Ltd                  Inventory Funding  CRISIL B+      267.5   Upgraded from
                                        Fac                                       CRISIL B
Ace Kudale Car Pvt Ltd                  Loan Against       CRISIL B+      19.4    Upgraded from
                                        Property                                  CRISIL B
Ace Kudale Car Pvt Ltd                  Proposed LT Bk     CRISIL B+      62.8    Upgraded from
                                        Loan Fac                                  CRISIL B
Ace Kudale Car Pvt Ltd                  TL                 CRISIL B+      35.3    Upgraded from
                                                                                  CRISIL B
B. R. Oil Mills                         CC                 CRISIL BB+     85      Assigned
B. R. Oil Mills                         Proposed FB Bk     CRISIL BB+     31.3    Assigned
                                        Limits
B. R. Oil Mills                         TL                 CRISIL BB+     8.7     Assigned
B.P.Flour Mills Pvt Ltd                 CC                 CRISIL B+      38      Upgraded from
                                                                                  CRISIL B-
B.P.Flour Mills Pvt Ltd                 LT Loan            CRISIL B+      22      Upgraded from
                                                                                  CRISIL B-
Bajrang Steel Sales Corporation         CC                 CRISIL BBB-    125     Assigned
Bajrang Steel Sales Corporation         Channel Financing  CRISIL BBB-    175     Assigned
Dadi Ji Steels Pvt Ltd                  CC                 CRISIL BBB     80      Upgraded from
                                                                                  CRISIL BBB-
Dadi Ji Steels Pvt Ltd                  Proposed LT Bk     CRISIL BBB     52.3    Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Dadi Ji Steels Pvt Ltd                  TL                 CRISIL BBB     30      Upgraded from
                                                                                  CRISIL BBB-
Dhairya International                   Foreign Bill       CRISIL B+      110     Downgraded
                                        Discounting                               from CRISIL
                                                                                  BB-
Digi Drives Pvt Ltd                     CC                 CRISIL BB      105     Reaffirmed
Galaxy Exports Pvt Ltd                  CC                 CRISIL B+      65      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Galaxy Exports Pvt Ltd                  Proposed LT Bk     CRISIL B+      22.8    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Galaxy Exports Pvt Ltd                  TL                 CRISIL B+      7       Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Indus Life Sciences Pvt Ltd             CC                 CRISIL BB      120     Reaffirmed
Indus Life Sciences Pvt Ltd             LOC                CRISIL BB      30      Reaffirmed
Indus Life Sciences Pvt Ltd             Proposed LT Bk     CRISIL BB      70      Reaffirmed
                                        Loan Fac
International Trading Corporation       CC                 CRISIL BBB-    130     Reaffirmed
International Trading Corporation       Channel Financing  CRISIL BBB-    100     Reaffirmed
Jasbir Singh And Sons Hotels Pvt Ltd    TL                 CRISIL B       120     Assigned
Kajaria Iron And Steel Company Pvt Ltd  CC                 CRISIL B       20      Reaffirmed
Kaushalya Roller Flour Mills Pvt Ltd    CC                 CRISIL BB-     140     Downgraded
                                                                                  from CRISIL
                                                                                  BB
Kaushalya Roller Flour Mills Pvt Ltd    Export Packing     CRISIL BB-     40      Downgraded
                                        Credit                                    from CRISIL
                                                                                  BB
Kaushalya Roller Flour Mills Pvt Ltd    Proposed LT Bk     CRISIL BB-     10      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB
Kokuyo Camlin Ltd                       CC                 CRISIL A       320     Reaffirmed
Kokuyo Camlin Ltd                       External           CRISIL A       279.1   Reaffirmed
                                        Commercial
                                        Borrowings
Kokuyo Camlin Ltd                       Proposed LT Bk     CRISIL A       12.3    Reaffirmed
                                        Loan Fac
La Renon Healthcare Pvt Ltd             CC                 CRISIL BBB+    150     Assigned
Linen Art Pvt Ltd                       Proposed LT Bk     CRISIL BB-     500     Assigned
                                        Loan Fac
Mahle Behr India Pvt Ltd                Bill Discounting*  CRISIL A+      600     Upgraded from
                                                                                  CRISIL A-
* Interchangeable with WCDL upto Rs 20 crore or with PCFC upto Rs 20 crore 
Mahle Behr India Pvt Ltd                CC & WC demand     CRISIL A+      250     Upgraded from
                                        loan$                                     CRISIL A-
$ Interchangeable with Trade finance facilities upto Rs 25 crore 
Mahle Behr India Pvt Ltd                FB Fac^            CRISIL A+      500     Upgraded from
                                                                                  CRISIL A-
^Interchangeable with working capital loan upto Rs 30 crore or with buyers
  credit upto Rs 40 crore
Mahle Behr India Pvt Ltd                Proposed FB Bk     CRISIL A+      290     Upgraded from
                                        Limits                                    CRISIL A-
Mahle Behr India Pvt Ltd                FB Fac@            CRISIL A+      760     Upgraded from
                                                                                  CRISIL A-
 @ Interchangeable with Purchase Order (PO) finance upto Rs 7 crore, 
 sales invoice finance upto Rs 23 crore or with purchase
 invoice finance upto Rs 12 crore
Maxwell Auto Components Pvt Ltd         Proposed LT Bk     CRISIL D       17.5    Assigned
                                        Loan Fac
Maxwell Auto Components Pvt Ltd         CC                 CRISIL D       57.5    Assigned
Maxwell Auto Components Pvt Ltd         Cash TL            CRISIL D       80      Assigned
Medicamen Biotech Ltd                   CC                 CRISIL BB-     150     Upgraded from
                                                                                  CRISIL B
Medicamen Biotech Ltd                   LT Loan            CRISIL BB-     70      Upgraded from
                                                                                  CRISIL B
Motherland Garments Pvt Ltd             CC                 CRISIL B+      20      Reaffirmed
Motherland Garments Pvt Ltd             LT Loan            CRISIL B+      18.6    Reaffirmed
Motherland Garments Pvt Ltd             Proposed LT Bk     CRISIL B+      59.4    Reaffirmed
                                        Loan Fac
Motherland Garments Pvt Ltd             SME Credit         CRISIL B+      2       Reaffirmed
Nakoda Industries                       CC                 CRISIL BB-     35      Assigned
Nakoda Industries                       TL                 CRISIL BB-     27.5    Assigned
Narayan Agro Foods Ltd                  CC                 CRISIL C       70      Assigned
National Insurance Co. Ltd.             Financial Strength AAA                    Reaffirmed
                                        Rating
National Insurance Co. Ltd.             Subordinated Debt  CRISIL AAA     8950    Assigned
                                        Issue
OSD Coke Pvt Ltd                        CC                 CRISIL BBB-    30      Reaffirmed
OSD Coke Pvt Ltd                        Proposed FB Bk     CRISIL BBB-    225     Reaffirmed
                                        Limits
Pinnacle Infotech Solutions             TL                 CRISIL BBB     150     Assigned
Premier Carworld Pvt Ltd                CC                 CRISIL BB-     375     Upgraded from
                                                                                  CRISIL B+
Print-Tech Offset Pvt Ltd               CC                 CRISIL B       25      Reaffirmed
Print-Tech Offset Pvt Ltd               Proposed LT Bk     CRISIL B       10      Reaffirmed
                                        Loan Fac
Print-Tech Offset Pvt Ltd               TL                 CRISIL B       37.5    Reaffirmed
PRS Tyres Ltd                           LT Loan            CRISIL BB-     9.7     Assigned
PRS Tyres Ltd                           CC                 CRISIL BB-     37.5    Assigned
PRS Tyres Ltd                           Export Packing     CRISIL BB-     12.5    Assigned
                                        Credit
Rajul Builders                          TL                 CRISIL BB-     75      Assigned
Rajul Builders                          Drop Line          CRISIL BB-     79.5    Assigned
                                        Overdraft Fac
Ramdev Chemical Industries              Export Packing     CRISIL BBB     60      Upgraded from
                                        Credit                                    CRISIL BBB-
Ranisati Roller Flour Mills Pvt Ltd     CC                 CRISIL BB-     130     Downgraded
                                                                                  from CRISIL
                                                                                  BB
Ranisati Roller Flour Mills Pvt Ltd     Proposed LT Bk     CRISIL BB-     10      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB
Ranisati Roller Flour Mills Pvt Ltd     Proposed TL        CRISIL BB-     15      Downgraded
                                                                                  from CRISIL
                                                                                  BB
Revive Realty Ltd                       Drop Line          CRISIL BBB     396     Reaffirmed
                                        Overdraft Fac
Revive Realty Ltd                       Proposed LT Bk     CRISIL BBB     60      Reaffirmed
                                        Loan Fac
Revive Realty Ltd                       TL                 CRISIL BBB     204     Reaffirmed
S V Distributors Pvt Ltd                CC                 CRISIL BB-     340     Reaffirmed
Satyam Ispat (North East) Ltd           CC                 CRISIL D       209     Downgraded
                                                                                  from CRISIL C
Satyam Ispat (North East) Ltd           Proposed TL        CRISIL D       92      Downgraded
                                                                                  from CRISIL C
Satyam Ispat (North East) Ltd           WC TL              CRISIL D       139     Downgraded
                                                                                  from CRISIL C
Savino Ceramic Pvt Ltd                  CC                 CRISIL B+      25      Reaffirmed
Savino Ceramic Pvt Ltd                  Proposed LT Bk     CRISIL B+      18      Reaffirmed
                                        Loan Fac
Savino Ceramic Pvt Ltd                  TL                 CRISIL B+      43      Reaffirmed
Sharma Construction - Ghaziabad         Overdraft          CRISIL BB-     17.5    Assigned
Somany Ceramics Ltd                     CC*                CRISIL AA-     1500    Upgraded from
                                                                                  CRISIL A+
* Interchangeable with working capital demand loan facility 
Somany Ceramics Ltd                     Proposed FB Bk     CRISIL AA-     264.4   Upgraded from
                                        Limits                                    CRISIL A+
Somany Ceramics Ltd                     TL                 CRISIL AA-     1020.4  Upgraded from
                                                                                  CRISIL A+
Soubhik Exports Ltd                     LT Loan            CRISIL BB      200     Upgraded from
                                                                                  CRISIL B/
Soubhik Exports Ltd                     Proposed LT Bk     CRISIL BB      100     Assigned
                                        Loan Fac
Sri Balaganesan Spinners                TL                 CRISIL BB      3.1     Assigned
Sri Balaganesan Spinners                CC                 CRISIL BB      50      Assigned
Sri Balaganesan Spinners                Proposed LT Bk     CRISIL BB      6.9     Assigned
                                        Loan Fac
Sri Laxmi Timbers Pvt Ltd               Proposed LT Bk     CRISIL BB-     3       Reaffirmed
                                        Loan Fac
Sri Siddhi Freezers and Exporters Pvt   Proposed LT Bk     CRISIL B+      4       Reaffirmed
Ltd                                     Loan Fac
Suyog Electricals Ltd                   CC                 CRISIL BBB     97.5    Reaffirmed
Suyog Electricals Ltd                   LT Loan            CRISIL BBB     7.5     Reaffirmed
Suyog Electricals Ltd                   Proposed LT Bk     CRISIL BBB     5       Reaffirmed
                                        Loan Fac
T Line Infra Pvt Ltd                    CC/ Overdraft Fac  CRISIL B       50      Assigned
T Line Infra Pvt Ltd                    LT Bk Fac          CRISIL B       5       Assigned
Tonza Paper LLP                         CC                 CRISIL B+      55      Reaffirmed
Tonza Paper LLP                         Proposed LT Bk     CRISIL B+      10.6    Reaffirmed
                                        Loan Fac
Tonza Paper LLP                         TL                 CRISIL B+      74.4    Reaffirmed
Turbhe Chemicals Pvt Ltd                Proposed LT Bk     CRISIL BB-     16      Assigned
                                        Loan Fac
Turbhe Chemicals Pvt Ltd                Overdraft          CRISIL BB-     120     Assigned
Vinaykumar & Co.                        Foreign Bill       CRISIL B+      110     Downgraded
                                        Discounting                               from CRISIL
                                                                                  BB-
Vital Chemtech LLP                      CC                 CRISIL BB-     40      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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