Reuters logo
CRISIL ratings for Indian debt instruments-Apr 11
April 11, 2017 / 4:21 AM / 5 months ago

CRISIL ratings for Indian debt instruments-Apr 11

    Apr 11 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 10, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Apollo Vikas Steels Pvt Ltd             LOC                CRISIL A4      460     Reaffirmed
Bhadiyadra Gems                         Post Shipment      CRISIL A4+     125     Reaffirmed
                                        Credit
Bhagwati Ferro Metal Pvt Ltd            BG                 CRISIL A3+     50      Reaffirmed
Bhagwati Ferro Metal Pvt Ltd            LOC                CRISIL A3+     200     Assigned
Bhagwati Ferro Metal Pvt Ltd            Letter Of GuaranteeCRISIL A3+     2.9     Assigned
Bhagwati Steel Cast Pvt Ltd             BG                 CRISIL A3+     67.5    Assigned
Bhagwati Steel Cast Pvt Ltd             LOC                CRISIL A3+     14.6    Assigned
Bharat Petroleum Corporation Ltd        Non-FBL            CRISIL A1+     163120  Reaffirmed
Bharat Petroleum Corporation Ltd        Proposed NFBL      CRISIL A1+     1100    Reaffirmed
Bharat Petroleum Corporation Ltd        Proposed NFBL      CRISIL A1+     19825   Reaffirmed
Bharat Petroleum Corporation Ltd        ST Debt Programme  CRISIL A1+     150000  Reaffirmed
Drishti Apparels                        Foreign Bill       CRISIL A4+     80      Upgraded from
                                        Discounting*                              CRISIL A4
* Includes a sub limit of EPC/PCFC of Rs 8 crore, and overdraft limit of Rs 0.50 crore.
Drishti Apparels                        Proposed Bill      CRISIL A4+     35      Upgraded from
                                        Discounting Fac                           CRISIL A4
Drishti Apparels                        Foreign Exchange   CRISIL A4+     25      Upgraded from
                                        Forward                                   CRISIL A4
Drishti Apparels                        Foreign Bill       CRISIL A4+     40      Upgraded from
                                        Negotiation                               CRISIL A4
DTDC Express Ltd                        LOC & BG           CRISIL A2+     110     Downgraded
                                                                                  from CRISIL A1
Evergreen Publications India Ltd        BG                 CRISIL A3      30      Reaffirmed
Evergreen Publications India Ltd        Overdraft#         CRISIL A3      292.5   Reaffirmed
# Includes working capital demand loan of Rs 21 cr and foreign letter of credit/inland letter of
credit of Rs 3 cr
Gautam International Pratisthan         BG                 CRISIL A3      114     Reaffirmed
Gloster Ltd                             BG                 CRISIL A1      40      Reaffirmed
Gloster Ltd                             LOC                CRISIL A1      200     Reaffirmed
Gloster Ltd                             CP                 CRISIL A1      500     Reaffirmed
Kastum Engineers - Aurangabad           BG                 CRISIL A4      73      Reaffirmed
Marymatha Construction Company          BG                 CRISIL A4+     1100    Reaffirmed
Nova Publications                       BG$                CRISIL A3      50      Reaffirmed
$Include sublimit LC of Rs 5 crore
Nova Publications and Printers Pvt Ltd  BG                 CRISIL A3      5       Reaffirmed
Ricela Health Foods Ltd                 Bill Discounting   CRISIL A3+     100     Reaffirmed
Shiraj Timber Traders                   LOC                CRISIL A4      145     Reaffirmed
Silver Jubilee Motors Ltd               BG                 CRISIL A4      50      Reaffirmed
Soriso Ceramic Pvt Ltd                  BG                 CRISIL A3+     30      Reaffirmed
Sri Jaya Maaruthi Yarn (Indiaa) Pvt Ltd BG                 CRISIL A4+     6.5     Upgraded from
                                                                                  CRISIL A4
Suryalata Spinning Mills Ltd            Foreign Exchange   CRISIL A3      5.2     Reaffirmed
                                        Forward
Suryalata Spinning Mills Ltd            LOC                CRISIL A3      100     Reaffirmed
Vasavi Lubricants Pvt Ltd               BG                 CRISIL A4      2       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Ved Parkash and Sons                    BG                 CRISIL A3      10      Reaffirmed

LONG TERM RATINGS:
-------------------
Apollo Vikas Steels Pvt Ltd             CC                 CRISIL B+      40      Reaffirmed
Bhadiyadra Gems                         Export Packing     CRISIL BB-     70      Reaffirmed
                                        Credit
Bhadiyadra Gems                         Proposed LT Bk     CRISIL BB-     8.9     Reaffirmed
                                        Loan Fac
Bhagwati Ferro Metal Pvt Ltd            CC                 CRISIL BBB     600     Reaffirmed
Bhagwati Ferro Metal Pvt Ltd            LT Loan            CRISIL BBB     67.6    Assigned
Bhagwati Steel Cast Pvt Ltd             TL                 CRISIL BBB     149.7   Assigned
Bhagwati Steel Cast Pvt Ltd             Proposed LT Bk     CRISIL BBB     92.8    Assigned
                                        Loan Fac
Bhagwati Steel Cast Pvt Ltd             CC                 CRISIL BBB     260     Assigned
Bharat Petroleum Corporation Ltd        FB Fac*            CRISIL AAA     228550  Reaffirmed
* Rs 3690.0 crore is interchangeable with non-fund-based facilities
Bharat Petroleum Corporation Ltd        FB Fac#            CRISIL AAA     99125   Reaffirmed
#Equivalent to USD 1625 million. 1 USD=INR 61
Bharat Petroleum Corporation Ltd        Proposed FB Bk     CRISIL AAA     6100    Reaffirmed
                                        Limits
Bharat Petroleum Corporation Ltd        Proposed FB Bk     CRISIL AAA     165615  Reaffirmed
                                        Limits$
$ Equivalent to USD 2715 million. 1 USD=INR 61
Bharat Petroleum Corporation Ltd        NCD                CRISIL AAA     10000   Reaffirmed
Bharat Petroleum Corporation Ltd        NCD                CRISIL AAA     10000   Reaffirmed
Drishti Apparels                        Foreign Currency TLCRISIL BB-     20      Assigned
DTDC Express Ltd                        CC                 CRISIL A-      700     Reaffirmed
DTDC Express Ltd                        TL                 CRISIL A-      300     Reaffirmed
Evergreen Publications India Ltd        CC*                CRISIL BBB-    186.3   Reaffirmed
*Includes sub-limits for foreign bank guarantee/domestic bank guarantee/foreign letter of
credit/inland letter of credit/packing credit/packing credit in foreign currency/foreign bill
discounting/foreign bill usance discounting/direct recourse under letter of credit of Rs 2 cr
Evergreen Publications India Ltd        Proposed CC Limit  CRISIL BBB-    90      Reaffirmed
Evergreen Publications India Ltd        TL                 CRISIL BBB-    13.1    Reaffirmed
Gautam International Pratisthan         TL                 CRISIL BBB-    86      Reaffirmed
Gloster Ltd                             CC                 CRISIL A       770     Reaffirmed
Gloster Ltd                             LT Loan            CRISIL A       16.6    Reaffirmed
Gloster Ltd                             Proposed LT Bk     CRISIL A       343.4   Reaffirmed
                                        Loan Fac
Gloster Ltd                             WC Demand Loan     CRISIL A       130     Reaffirmed

HM Jewellers Pvt Ltd                    LT Loan            CRISIL B+      1.9     Downgraded
                                                                                  from CRISIL BB
HM Jewellers Pvt Ltd                    Standby Line of    CRISIL B+      2.5     Downgraded
                                        Credit                                    from CRISIL BB
HM Jewellers Pvt Ltd                    WC Fac             CRISIL B+      67.5    Downgraded
                                                                                  from CRISIL BB
Kastum Engineers - Aurangabad           CC                 CRISIL B+      20      Reaffirmed
Kurukshetra Expressway Pvt Ltd          Rupee TL           CRISIL D       7480    Assigned
Marymatha Construction Company          CC/ Overdraft Fac  CRISIL BB      240     Upgraded from
                                                                                  CRISIL BB-
Marymatha Construction Company          Proposed LT Bk     CRISIL BB      410     Upgraded from
                                        Loan Fac                                  CRISIL BB-
Nova Publications                       CC*                CRISIL BBB-    188.4   Reaffirmed
*Include sublimit working capital demand loan of Rs.17 crore Nova Publications                  
    Proposed CC Limit  CRISIL BBB-    56.1    Reaffirmed
Nova Publications                       TL                 CRISIL BBB-    11      Reaffirmed
Nova Publications                       CC#                CRISIL BBB-    217.5   Reaffirmed
#Include sublimit-foreign bank guarantee/domestic bank guarantee/foreign letter of credit/inland
letter of credit/packing credit/packing credit in foreign currency/foreign bill
discounting/foreign bill usance discounting/direct recourse under letter of credit of Rs.5 crore
Nova Publications and Printers Pvt Ltd  CC*                CRISIL BBB-    120     Reaffirmed
*Include sublimit letter of credit of Rs.1 crore
Nova Publications and Printers Pvt Ltd  Proposed CC Limit  CRISIL BBB-    20      Reaffirmed
Nova Publications and Printers Pvt Ltd  Proposed LT Bk     CRISIL BBB-    16.5    Reaffirmed
                                        Loan Fac
Nova Publications and Printers Pvt Ltd  Standby LOC        CRISIL BBB-    30      Reaffirmed
Nova Publications and Printers Pvt Ltd  TL                 CRISIL BBB-    108.5   Reaffirmed
PVSRSN Enterprise Pvt Ltd               BG                 CRISIL D       100     Reaffirmed
PVSRSN Enterprise Pvt Ltd               CC                 CRISIL D       150     Reaffirmed
PVSRSN Enterprise Pvt Ltd               Proposed LT Bk     CRISIL D       50      Reaffirmed
                                        Loan Fac
R.B. Gears Pvt Ltd                      CC                 CRISIL B+      30      Reaffirmed
R.B. Gears Pvt Ltd                      TL                 CRISIL B+      50      Reaffirmed
R.N. Dwivedi Foundation                 TL                 CRISIL B+      73      Assigned
Rayfam Enterprises Pvt Ltd              Overdraft          CRISIL B       10      Reaffirmed
Rayfam Enterprises Pvt Ltd              Proposed WC Fac    CRISIL B       40      Reaffirmed
Rayfam Enterprises Pvt Ltd              WC Fac             CRISIL B       50      Reaffirmed
Ricela Health Foods Ltd                 CC                 CRISIL BBB     1500    Reaffirmed
Ricela Health Foods Ltd                 Proposed CC Limit  CRISIL BBB     200     Reaffirmed
Ricela Health Foods Ltd                 Proposed WC Fac    CRISIL BBB     3       Reaffirmed
Ricela Health Foods Ltd                 TL                 CRISIL BBB     177     Reaffirmed
Ricela Health Foods Ltd                 Warehouse Receipts CRISIL BBB     220     Assigned
Shiraj Timber Traders                   CC*                CRISIL B-      255     Reaffirmed
*Fully interchangeable with letter of credit
Shivali Udyog India Ltd                 CC                 CRISIL B       31.5    Downgraded
                                                                                  from CRISIL B+
Shivali Udyog India Ltd                 Proposed LT Bk     CRISIL B       212.3   Downgraded
                                        Loan Fac                                  from CRISIL B+
Shivali Udyog India Ltd                 WC Demand Loan     CRISIL B       72      Downgraded
                                                                                  from CRISIL B+
Silver Jubilee Motors Ltd               CC                 CRISIL B       537.5   Reaffirmed
Silver Jubilee Motors Ltd               Proposed LT Bk     CRISIL B       12.5    Reaffirmed
                                        Loan Fac
Soriso Ceramic Pvt Ltd                  CC                 CRISIL BBB     100     Reaffirmed
Soriso Ceramic Pvt Ltd                  Rupee TL           CRISIL BBB     70      Reaffirmed
Sri Jaya Maaruthi Yarn (Indiaa) Pvt Ltd CC                 CRISIL BB-     60      Upgraded from
                                                                                  CRISIL B+
Sri Jaya Maaruthi Yarn (Indiaa) Pvt Ltd LT Loan            CRISIL BB-     163.2   Upgraded from
                                                                                  CRISIL B+
Sri Jaya Maaruthi Yarn (Indiaa) Pvt Ltd Proposed WC Fac    CRISIL BB-     20.3    Upgraded from
                                                                                  CRISIL B+
Sun Art Exporters                       Export Packing     CRISIL BB+     100     Upgraded from
                                        Credit                                    CRISIL BB
Suryalata Spinning Mills Ltd            CC                 CRISIL BBB-    437.5   Reaffirmed
Suryalata Spinning Mills Ltd            Foreign Currency TLCRISIL BBB-    61.8    Reaffirmed
Suryalata Spinning Mills Ltd            LT Loan            CRISIL BBB-    245.9   Reaffirmed
Suryalata Spinning Mills Ltd            WC TL              CRISIL BBB-    13.3    Reaffirmed
Suryalata Spinning Mills Ltd            Proposed LT Bk     CRISIL BBB-    680.3   Reaffirmed
                                        Loan Fac
Suryalata Spinning Mills Ltd            Standby Line of    CRISIL BBB-    56      Reaffirmed
                                        Credit
Tripura Natural Gas Co. Ltd             TL                 CRISIL BBB+    170     Reaffirmed
Vasavi Lubricants Pvt Ltd               CC                 CRISIL B       72.5    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Vasavi Lubricants Pvt Ltd               Proposed LT Bk     CRISIL B       10      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Ved Parkash and Sons                    CC*                CRISIL BBB-    60      Reaffirmed
* Include sublimit Invoice bill purchase/invoice bills discounting of Rs.1 crore
Ved Parkash and Sons                    Proposed CC Limit  CRISIL BBB-    10      Reaffirmed
Ved Parkash and Sons                    Standby LOC        CRISIL BBB-    20      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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below