March 22, 2017 / 4:32 AM / 6 months ago

CRISIL ratings for Indian debt instruments-Mar 22

    Mar 22 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 21, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A.R. Thermosets Pvt Ltd                 LOC & BG           CRISIL A4+     74      Reaffirmed
Aaditya Construction                    BG                 CRISIL A4      108     Assigned
Amore Jewels Pvt Ltd                    Packing Credit     CRISIL A3      500     Reaffirmed
Balaji Extrusions and Cables Pvt Ltd    Bill Discounting   CRISIL A3+     80      Upgraded from
                                                                                  CRISIL A3
Balaji Extrusions and Cables Pvt Ltd    LOC & BG           CRISIL A3+     17.5    Upgraded from
                                                                                  CRISIL A3
Bhoomi Natural Products and Exports Pvt Packing Credit in  CRISIL A4      50      Assigned
Ltd                                     Foreign Currency
Bhoomika Garments Pvt Ltd               Foreign Demand     CRISIL A4+     20      Reaffirmed
                                        Bill Purchase
Bhoomika Garments Pvt Ltd               Packing Credit     CRISIL A4+     25      Reaffirmed
Bhoomika Garments Pvt Ltd               Proposed ST Bk     CRISIL A4+     30      Reaffirmed
                                        Loan Fac
CMI FPE Ltd                             LOC^               CRISIL         1475    Withdrawal
                                                           A2(Notice of
                                                           Withdrawal)
Credit Suisse AG                        CD                 CRISIL A1+     20000   Reaffirmed
(Enhanced from Rs.1500 Crore)
Global Heavy Engineering industries -   BG                 CRISIL A4      12.5    Assigned
Bhopal
Hindustan Zinc Ltd                      Bill Discounting   CRISIL A1+     2300    Reaffirmed
Hindustan Zinc Ltd                      LOC & BG           CRISIL A1+     10800   Reaffirmed
Impression Furniture Industries         BG                 CRISIL A4+     15      Upgraded from
                                                                                  CRISIL A4
India Steel Continental Pvt Ltd         LOC                CRISIL A4+     40      Assigned
India Steel Continental Pvt Ltd         BG                 CRISIL A4+     15      Assigned
M/s M.P. Agarwalla                      BG                 CRISIL A4+     120     Reaffirmed
MPS Telecom Pvt. Ltd.                   Proposed NFBL      CRISIL A3+     100     Reaffirmed
MPS Telecom Pvt. Ltd.                   Standby LOC        CRISIL A3+     600     Reaffirmed
National Bank For Agriculture and Rural Rs.23000 Crore CP  CRISIL A1+     0       Reaffirmed
Development
National Bank For Agriculture and Rural Rs.10000 Crore     CRISIL A1+     0       Reaffirmed
Development                             One-Year CDs
                                        Programme 
Paras Glass Ware Pvt Ltd                LOC                CRISIL A4+     30.2    Reaffirmed
Periyar Polymers Pvt Ltd                LOC                CRISIL A4      30      Reaffirmed
Plazma Granito Pvt Ltd                  BG                 CRISIL A4      25      Reassigned
Ray Constructions Ltd                   BG                 CRISIL A4+     320     Reaffirmed
Remi Edelstahl Tubulars Ltd             BG                 CRISIL A4      200     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Remi Edelstahl Tubulars Ltd             LOC                CRISIL A4      300     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
TATA Sky Ltd                            ST Bk Fac@@        CRISIL A1+     5980    Reaffirmed
@@Interchangeable with short-term loan, purchase invoicing financing, purchase bill discounting,
and non-fund-based facilities.
Verity Spintex Pvt Ltd                  BG                 CRISIL A4+     6       Upgraded from
                                                                                  CRISIL A4
Vishwaa Apparels                        Foreign Bill       CRISIL A4+     15      Reaffirmed
                                        Discounting
Vishwaa Apparels                        Packing Credit     CRISIL A4+     15      Reaffirmed
Vishwanath Singh Enterprises            BG                 CRISIL A4+     25      Assigned
Vivan Steels Pvt Ltd                    BG                 CRISIL A4+     5       Reaffirmed
Vodafone India Ltd                      LOC & BG*          CRISIL A1+     186903.8Reaffirmed
Vodafone India Ltd                      Proposed ST Bk     CRISIL A1+     5113.9  Reaffirmed
                                        Loan Fac
LONG TERM RATINGS:
-------------------
A.R. Thermosets Pvt Ltd                 CC                 CRISIL BB      125     Reaffirmed
Aaditya Construction                    CC                 CRISIL B+      12      Assigned
Alchemy Techsol India Pvt Ltd           CC                 CRISIL BB      200     Assigned
Amore Jewels Pvt Ltd                    CC                 CRISIL BBB-    80      Reaffirmed
Amore Jewels Pvt Ltd                    Proposed LT Bk     CRISIL BBB-    220     Reaffirmed
                                        Loan Fac
Amore Jewels Pvt Ltd                    Standby Line of    CRISIL BBB-    200     Reaffirmed
                                        Credit
Aurangabad Divisional Life Insurance    LT Bk Fac          CRISIL BBB-    100     Reaffirmed
Employees Co-Operative Credit Society
Ltd
Bag Poly Enterprises                    TL                 CRISIL B+      28.2    Assigned
Bag Poly Enterprises                    Proposed LT Bk     CRISIL B+      21.4    Assigned
                                        Loan Fac
Bag Poly Enterprises                    CC                 CRISIL B+      20.4    Assigned
Bag Poly Enterprises                    Proposed CC Limit  CRISIL B+      30      Assigned
Balaji Extrusions and Cables Pvt Ltd    CC                 CRISIL BBB     77.5    Upgraded from
                                                                                  CRISIL BBB-
Balaji Extrusions and Cables Pvt Ltd    LT Loan            CRISIL BBB     4.8     Upgraded from
                                                                                  CRISIL BBB-
Balaji Extrusions and Cables Pvt Ltd    Proposed LT Bk     CRISIL BBB     80.2    Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Bayer Pharmaceuticals Pvt Ltd           CC                 CRISIL A+      40      Reaffirmed
CMI FPE Ltd                             CC@                CRISIL BBB+    475     Reaffirmed
CMI FPE Ltd                             CC@                Withdrawal     25      Withdrawal
CMI FPE Ltd                             TL                 Withdrawal     300     Withdrawal

CMI FPE Ltd                             LOC^               Withdrawal     25      Withdrawal
Gajanan Siddhivinayak Foods Pvt Ltd     CC                 CRISIL D       90      Reaffirmed
Global Heavy Engineering industries -   TL                 CRISIL B       14.3    Assigned
Bhopal
Global Heavy Engineering industries -   Proposed LT Bk     CRISIL B       38.2    Assigned
Bhopal                                  Loan Fac
Global Heavy Engineering industries -   CC                 CRISIL B       65      Assigned
Bhopal
Goodearth Minchem Pvt Ltd               CC                 CRISIL BB-     50      Upgraded from
                                                                                  CRISIL B+
Goodearth Minchem Pvt Ltd               TL                 CRISIL BB-     40      Upgraded from
                                                                                  CRISIL B+
Hindustan Zinc Ltd                      LOC & BG*          CRISIL AAA     1500    Reaffirmed
* Interchangeable with fund-based facilities
Hindustan Zinc Ltd                      Overdraft          CRISIL AAA     5200    Reaffirmed
Hindustan Zinc Ltd                      Proposed CC Limit  CRISIL AAA     200     Reaffirmed
Impression Furniture Industries         CC                 CRISIL BB-     44      Upgraded from
                                                                                  CRISIL B+
Impression Furniture Industries         Proposed LT Bk     CRISIL BB-     6.1     Upgraded from
                                        Loan Fac                                  CRISIL B+
Impression Furniture Industries         LT Loan            CRISIL BB-     4.9     Upgraded from
                                                                                  CRISIL B+
India Steel Continental Pvt Ltd         TL                 CRISIL BB      117.7   Assigned
India Steel Continental Pvt Ltd         CC                 CRISIL BB      100     Assigned
Kotak Mahindra Investments Ltd          LT Bk Fac          CRISIL AAA     2000    Reaffirmed
Kotak Mahindra Investments Ltd          Proposed LT Bk     CRISIL AAA     1250    Reaffirmed
                                        Loan Fac*
*Interchangeable with short term facilities
Kotak Mahindra Investments Ltd          WC Demand Loan     CRISIL AAA     6750    Reaffirmed
M/s M.P. Agarwalla                      CC                 CRISIL BB      90      Reaffirmed
M/s M.P. Agarwalla                      Proposed LT Bk     CRISIL BB      90      Reaffirmed
                                        Loan Fac
Motherson Auto Ltd                      LT Loan            CRISIL AA      1740    Assigned
Motherson Auto Ltd                      Proposed LT Bk     CRISIL AA      10      Assigned
                                        Loan Fac
MPS Telecom Pvt. Ltd.                   Vendor Bill        CRISIL BBB     1000    Reaffirmed
                                        Discounting Limits
Muthoot Housing Finance Co. Ltd         CC                 CRISIL BBB+    50      Reaffirmed
Muthoot Housing Finance Co. Ltd         Proposed LT Bk     CRISIL BBB+    708     Reaffirmed
                                        Loan Fac
Muthoot Housing Finance Co. Ltd         TL                 CRISIL BBB+    4242    Reaffirmed
National Bank For Agriculture and Rural Rs.4000 Crore      CRISIL AAA     0       Assigned
Development                             Bond Issue
National Bank For Agriculture and Rural Bonds Rs.114000    CRISIL AAA     0       Reaffirmed
Development                             Crore
National Bank For Agriculture and Rural Tax-Free Bonds at  CRISIL AAA     0       Reaffirmed
Development                             Rs.5000 Crore
National Bank For Agriculture and Rural Rs.100 Crore FD    FAAA           0       Reaffirmed
Development                             Programme
P&M and Hi Tech Infrastructures LLP     CC                 CRISIL D       400     Reaffirmed
Paras Glass Ware Pvt Ltd                CC                 CRISIL BB+     120     Upgraded from
                                                                                  CRISIL BB
Paras Glass Ware Pvt Ltd                TL                 CRISIL BB+     150     Upgraded from
                                                                                  CRISIL BB
Periyar Polymers Pvt Ltd                CC                 CRISIL B+      25      Upgraded from
                                                                                  CRISIL B
Periyar Polymers Pvt Ltd                Proposed LT Bk     CRISIL B+      35      Upgraded from
                                        Loan Fac                                  CRISIL B
Periyar Polymers Pvt Ltd                TL                 CRISIL B+      10      Upgraded from
                                                                                  CRISIL B
Plazma Granito Pvt Ltd                  CC                 CRISIL B       70      Downgraded
                                                                                  from CRISIL B+
Plazma Granito Pvt Ltd                  Proposed LT Bk     CRISIL B       15      Downgraded
                                        Loan Fac                                  from CRISIL B+
Plazma Granito Pvt Ltd                  TL                 CRISIL B       200     Downgraded
                                                                                  from CRISIL B+
Purple Medical Solutions Pvt Ltd        CC                 CRISIL BB      95      Reaffirmed
Purple Medical Solutions Pvt Ltd        Corporate Loan     CRISIL BB      6.1     Reaffirmed
Purple Medical Solutions Pvt Ltd        TL                 CRISIL BB      3.1     Assigned
Purple Medical Solutions Pvt Ltd        CC                 CRISIL BB      95      Reaffirmed
Purple Medical Solutions Pvt Ltd        Corporate Loan     CRISIL BB      6.1     Reaffirmed
Purple Medical Solutions Pvt Ltd        TL                 CRISIL BB      3.1     Assigned
Purple Medical Solutions Pvt Ltd        TL                 Withdrawal     24.8    Assigned
Purple Medical Solutions Pvt Ltd        TL                 Withdrawal     24.8    Assigned
Ray Constructions Ltd                   Proposed LT Bk     -              200     Withdrawal
                                        Loan Fac
Ray Constructions Ltd                   Overdraft          CRISIL BB+     100     Reaffirmed
Remi Edelstahl Tubulars Ltd             CC                 CRISIL B+      300     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Remi Edelstahl Tubulars Ltd             Proposed LT Bk     CRISIL B+      40      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Sarna Marbles Pvt Ltd                   CC                 CRISIL B+      100     Assigned
Sarna Marbles Pvt Ltd                   Proposed LT Bk     CRISIL B+      70.8    Assigned
                                        Loan Fac
Sarna Marbles Pvt Ltd                   TL                 CRISIL B+      29.2    Assigned
Sri Saravana Constructions              Secured Overdraft  CRISIL B+      100     Assigned
                                        Fac
Sri Satyanarayana Swamy Hatcharies      Proposed CC Limit  CRISIL B+      20      Assigned
Sri Satyanarayana Swamy Hatcharies      TL                 CRISIL B+      100     Assigned
Tata Cleantech Capital Ltd              CC & WC demand loanCRISIL AA+     3250    Reaffirmed
Tata Cleantech Capital Ltd              LT Bk Fac          CRISIL AA+     3750    Reaffirmed
Tata Cleantech Capital Ltd              Proposed LT Bk     CRISIL AA+     3000    Reaffirmed
                                        Loan Fac
TATA Sky Ltd                            LT Bk Fac@         CRISIL A+      28000   Reaffirmed
@Interchangeable with buyer's credit, working capital demand loan, and non-fund-based facilities
Trimula G Basmati Pvt Ltd               CC                 CRISIL B+      142.5   Reaffirmed
Unimarck Pharma (India) Ltd             CC                 CRISIL BB      50      Reaffirmed
Unimarck Pharma (India) Ltd             Proposed TL        CRISIL BB      10      Reaffirmed
Verity Spintex Pvt Ltd                  CC                 CRISIL BB-     30      Upgraded from
                                                                                  CRISIL B+
Verity Spintex Pvt Ltd                  TL                 CRISIL BB-     123.1   Upgraded from
                                                                                  CRISIL B+
Vishwaa Apparels                        CC                 CRISIL BB-     10      Reaffirmed
Vishwaa Apparels                        Foreign Currency TLCRISIL BB-     24      Reaffirmed
Vishwaa Apparels                        Proposed LT Bk     CRISIL BB-     36      Reaffirmed
                                        Loan Fac
Vishwanath Singh Enterprises            Proposed BG        CRISIL BB-     30      Assigned
Vishwanath Singh Enterprises            CC/ Overdraft Fac  CRISIL BB-     25      Assigned
Vivan Steels Pvt Ltd                    CC                 CRISIL BB      75      Reaffirmed
Vivan Steels Pvt Ltd                    LT Loan            CRISIL BB      11      Reaffirmed
Vmax Power Controls Pvt Ltd             LT Loan            CRISIL B       30      Assigned
Vmax Power Controls Pvt Ltd             Open CC            CRISIL B       22      Assigned
Vodafone India Ltd                      CC & WC demand loanCRISIL AA      15000   Reaffirmed
Vodafone India Ltd                      External           CRISIL AA      1990.4  Reaffirmed
                                        Commercial
                                        Borrowings^
^ Facility of Rs.199.03 crore is INR equivalent of USD 44 million hedged at Rs.45.2350/USD
Vodafone India Ltd                      LOC & BG*          CRISIL AA      30000   Reaffirmed
* Interchangeable between Vodafone India Ltd and Vodafone Mobile Services Ltd
Vodafone India Ltd                      LT Loan            CRISIL AA      1000    Reaffirmed
Vodafone India Ltd                      Proposed LT Bk     CRISIL AA      5780    Reaffirmed
                                        Loan Fac
VST Spintex India Pvt Ltd               Bill Discounting   CRISIL BB-     10      Reaffirmed
VST Spintex India Pvt Ltd               CC                 CRISIL BB-     50      Reaffirmed
VST Spintex India Pvt Ltd               Proposed LT Bk     CRISIL BB-     15.5    Reaffirmed
                                        Loan Fac
VST Spintex India Pvt Ltd               TL                 CRISIL BB-     4.3     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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