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CRISIL ratings for Indian debt instruments-Apr 5
April 5, 2017 / 4:48 AM / 6 months ago

CRISIL ratings for Indian debt instruments-Apr 5

    Apr 5 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 4, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aditya Construction Company             BG                 CRISIL A4+     100     Upgraded from
                                                                                  CRISIL A4
Ambika Cotton Mills Ltd                 Composite WC Limit CRISIL A1      4230    Upgraded from
                                                                                  CRISIL A2+
Aryan Pumps and Enviro Solutions Pvt    BG                 CRISIL A3      200     Upgraded from
Ltd                                                                               CRISIL A4+
Bluepark Seafoods Pvt Ltd               Standby Export     CRISIL A4+     80      Reaffirmed
                                        Packing Credit
Corporation Bank                        CD                 CRISIL A1+     250000  Withdrawal
                                        Programme
Desai Construction Pvt Ltd              BG                 CRISIL A1      400     Upgraded from
                                                                                  CRISIL A2+
Diffusion Engineers Ltd                 BG                 CRISIL A2      50      Reaffirmed
H.P. Telecom India Pvt Ltd              LOC                CRISIL A4+     120     Assigned
Jivraj Tea Ltd                          LOC                CRISIL A3+     30      Reaffirmed
MTAR Technologies Pvt Ltd               BG                 CRISIL A4      850     Reaffirmed
MTAR Technologies Pvt Ltd               LOC                CRISIL A4      50      Reaffirmed
MTAR Technologies Pvt Ltd               Standby Line of    CRISIL A4      50      Reaffirmed
                                        Credit
Onyx Techno System Pvt Ltd              BG                 CRISIL A4      12.5    Assigned
Pressure Vessels India                  BG                 CRISIL A4+     80      Upgraded from
                                                                                  CRISIL A4
Pressure Vessels India                  Inland/Import LOC  CRISIL A4+     12      Upgraded from
                                                                                  CRISIL A4
R1 International India Pvt Ltd          ST Loan            CRISIL A3      1000    Reaffirmed
Salzer Magnet Wires Ltd                 BG                 CRISIL A4+     3       Reaffirmed
Salzer Magnet Wires Ltd                 LOC                CRISIL A4+     80      Reaffirmed
Synergene Active Ingredients Pvt Ltd    LOC                CRISIL A4+     60      Reaffirmed
TUF Metallurgical Pvt Ltd               LOC                CRISIL A4      50      Downgraded
                                                                                  from CRISIL A3
TUF Metallurgical Pvt Ltd               Proposed ST Bk     CRISIL A4      50      Downgraded
                                        Loan Fac                                  from CRISIL A3
Vaibhavlaxmi Spintex LLP                BG                 CRISIL A4      15      Assigned
Vinod Enterprises                       BG                 CRISIL A4      22.5    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Corporation Bank                        FD Programme       FAAA                   Reaffirmed


LONG TERM RATINGS:
-------------------
Aditya Construction Company             Overdraft          CRISIL BB      70      Upgraded from
                                                                                  CRISIL B+
Adoni Municipality                      Corporate Credit   CCR BB         -       Assigned
                                        Rating
Ambika Cotton Mills Ltd                 Proposed WC Fac    CRISIL A       325.5   Upgraded from
                                                                                  CRISIL A-
Aryan Pumps and Enviro Solutions Pvt LtdCC*                CRISIL BBB-    50      Upgraded from
                                                                                  CRISIL BB+
Aryan Pumps and Enviro Solutions Pvt LtdOverdraft          CRISIL BBB-    10      Upgraded from
                                                                                  CRISIL BB+
Aryan Pumps and Enviro Solutions Pvt LtdProposed BG        CRISIL BBB-    100     Upgraded from
                                                                                  CRISIL BB+
Aryan Pumps and Enviro Solutions Pvt LtdTL                 CRISIL BBB-    90      Upgraded from
                                                                                  CRISIL BB+
Bluepark Seafoods Pvt Ltd               Export Packing     CRISIL BB+     800     Reaffirmed
                                        Credit
BSCPL Godhra Tollways Ltd               TL                 CRISIL BB+     5250    Upgraded from
                                                                                  CRISIL D
Chittoor Municipal Corporation          Corporate Credit   CCR BBB-       0       Assigned
                                        Rating
Corporation Bank                        Rs.1000 Crore      CRISIL A       10000   Reaffirmed
                                        Tier-I Bonds
Corporation Bank                        Tier-II Bonds      CRISIL AA      5000    Reaffirmed
                                        (Under Basel III)
Corporation Bank                        Lower Tier-II      CRISIL AA      12000   Reaffirmed
                                        Bonds (Under Basel
                                        II)
(Reduced from Rs.1500 Crore)
Corporation Bank                        Tier-I Perpetual   CRISIL AA-     4375    Reaffirmed
                                        Bonds (Under Basel
                                        II)
Corporation Bank                        Upper Tier-II      CRISIL AA-     14000   Reaffirmed
                                        Bonds (Under Basel
                                        II)
Dharmavaram Municipality                Corporate Credit   CCR B+         -       Assigned
                                        Rating
Diffusion Engineers Ltd                 CC                 CRISIL BBB+    180     Reaffirmed
Diffusion Engineers Ltd                 Proposed BG        CRISIL BBB+    20      Reaffirmed
Diffusion Engineers Ltd                 TL                 CRISIL BBB+    100     Reaffirmed
Guntakal Municipality                   Corporate Credit   CCR BB-        -       Assigned
                                        Rating
H.P. Telecom India Pvt Ltd              CC                 CRISIL BB      150     Reaffirmed
H.P. Telecom India Pvt Ltd              Proposed LT Bk     CRISIL BB      30      Assigned
                                        Loan Fac
Hindupur Municipality                   Corporate Credit   CCR BB         -       Assigned
                                        Rating
Jivraj Tea Ltd                          CC                 CRISIL BBB     100     Reaffirmed
Jivraj Tea Ltd                          TL                 CRISIL BBB     166.6   Reaffirmed

Kadapa Municipal Corporation            Corporate Credit   CCR BBB-       -       Assigned
                                        Rating
Kurnool Municipal Corporation           Corporate Credit   CCR BBB        -       Assigned
                                        Rating
Mittal Global Cot. Industries           CC                 CRISIL BB-     90      Upgraded from
                                                                                  CRISIL B+
MTAR Technologies Pvt Ltd               CC$                CRISIL C       300     Reaffirmed
$Includes sub-limits of Rs.15 crore of Export Packing Credit/Post-shipment in Foreign Currency
and Rs.5 crore for Foreign Bills Discounting/Export Bill Rediscounting.
Onyx Techno System Pvt Ltd              CC                 CRISIL B+      17.5    Assigned
Opaque Ceramics Pvt Ltd                 CC                 CRISIL BB      85      Upgraded from
                                                                                  CRISIL BB-
Pressure Vessels India                  CC                 CRISIL BB-     70.9    Upgraded from
                                                                                  CRISIL B+
Pressure Vessels India                  Proposed LT Bk     CRISIL BB-     7.1     Upgraded from
                                        Loan Fac                                  CRISIL B+
Salt Range Foods Pvt Ltd                Proposed CC Limit  CRISIL B       15      Assigned
Salt Range Foods Pvt Ltd                Proposed LT Bk     CRISIL B       85      Assigned
                                        Loan Fac
Salzer Magnet Wires Ltd                 CC                 CRISIL BB      120     Reaffirmed
Sarathy Motors (Kollam)                 CC                 CRISIL B+      90      Reaffirmed
Shakti Industries (Ahmedgarh)           CC                 CRISIL B       104     Withdrawal
Sri Gayathri Nature Cure Hospital       Proposed LT Bk     CRISIL B       50      Assigned
                                        Loan Fac
Synergene Active Ingredients Pvt Ltd    CC                 CRISIL BB+     160     Reaffirmed
Synergene Active Ingredients Pvt Ltd    LT Loan            CRISIL BB+     40      Reaffirmed
Tadipatri Municipality                  Corporate Credit   CCR BB         -       Assigned
                                        Rating
TUF Metallurgical Pvt Ltd               Export Packing     CRISIL B       300     Downgraded
                                        Credit                                    from CRISIL
                                                                                  BBB-
TUF Metallurgical Pvt Ltd               Proposed LT Bk     CRISIL B       400     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Vaibhavlaxmi Spintex LLP                Proposed LT Bk     CRISIL B       270     Assigned
                                        Loan Fac
Vaibhavlaxmi Spintex LLP                Proposed CC Limit  CRISIL B       50      Assigned
Vaibhavlaxmi Spintex LLP                LT Loan            CRISIL B       480     Assigned
Vaibhavlaxmi Spintex LLP                CC                 CRISIL B       100     Assigned
Vinod Enterprises                       CC                 CRISIL B       60      Reaffirmed
Walfs Infra India Pvt Ltd               Proposed TL        CRISIL B       1200    Assigned
--------------------------------------------------------------------------------------------
$: 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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