April 17, 2017 / 8:56 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Apr 17

23 Min Read

    Apr 17 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 13, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Cannanore Handloom Exports              Foreign Bill       CRISIL A4+     25      Reaffirmed
                                        Discounting
Cannanore Handloom Exports              Packing Credit     CRISIL A4+     60      Reaffirmed
FirstRand Bank Ltd                      CD                 CRISIL A1+     2500    Reaffirmed
GH Reddy and Associates (Construction)  BG                 CRISIL A4      200     Reaffirmed
Pvt Ltd
GNT Exports                             Packing Credit     CRISIL A4      60      Assigned
Gujarat State Petroleum Corporation Ltd ST Loan            CRISIL A1      8500    Continues on
                                                                                  Rating Watch
                                                                                  with Negative
Implications; placed on Notice of Withdrawa
J Korin Spinning Pvt Ltd                BG                 CRISIL A4+     21      Reaffirmed
J Korin Spinning Pvt Ltd                Standby Line of    CRISIL A4+     7       Reaffirmed
                                        Credit
Jaypeem Granites Pvt Ltd                Packing Credit in  CRISIL A4      20      Assigned
                                        Foreign Currency
Jaypeem Granites Pvt Ltd                BG                 CRISIL A4      5       Assigned
KND Engineering Technologies Ltd        BG                 CRISIL A4      350     Issuer Not
                                                                                  Cooperating
                                                                                  Removed
                                                                                  from Notice of
                                                                                  withdrawal
                                                                                  Downgraded
                                                                                  from
                                                                                  CRISIL A4+
Nem Laboratories Pvt Ltd                Packing Credit     CRISIL A4+     3       Assigned
Nem Laboratories Pvt Ltd                Inland/Import LOC  CRISIL A4+     16      Assigned
Nem Laboratories Pvt Ltd                BG                 CRISIL A4+     1.5     Assigned
Rajshree Impex Pvt Ltd                  BG                 CRISIL A4+     20      Assigned
S.S. Constructions                      BG                 CRISIL A4      40      Reaffirmed
Salarpuria Properties Pvt Ltd           Proposed NFBL      CRISIL A1      843.7   Reaffirmed
Samal Equip                             BG                 CRISIL A4+     2.5     Upgraded from
                                                                                  CRISIL A4
Sattva Developers Pvt Ltd               Overdraft          CRISIL A1      50      Assigned
Vetrivel Explosives Pvt Ltd             BG                 CRISIL A4      40      Reaffirmed
Vetrivel Explosives Pvt Ltd             LOC                CRISIL A4      40      Reaffirmed

LONG TERM RATINGS:
-------------------
Ayaan Exclusive Pvt Ltd                 Open CC            CRISIL B       20      Assigned
Ayaan Exclusive Pvt Ltd                 Inventory Funding  CRISIL B       100     Assigned
                                        Fac
Ayaan Exclusive Pvt Ltd                 LT Loan            CRISIL B       30      Assigned
Bhojeshwar Realtors Pvt Ltd             LT Loan            CRISIL A       500     Reaffirmed
Bhojeshwar Realtors Pvt Ltd             Proposed LT Bk     CRISIL A       500     Reaffirmed
                                        Loan Fac
BNP Paribas Overnight Fund              BNP Paribas Mutual CRISIL AAAmfs  0       Reaffirmed
                                        Fund 
Cannanore Handloom Exports              TL                 CRISIL BB-     15      Reaffirmed
Chevron Builders And Realtors Pvt Ltd   CC                 CRISIL B       80      Assigned
Chevron Builders And Realtors Pvt Ltd   Proposed LT Bk     CRISIL B       30      Assigned
                                        Loan Fac
Coremind Software Services Pvt Ltd      Drop Line          CRISIL A       85.5    Reaffirmed
                                        Overdraft Fac
Coremind Software Services Pvt Ltd      Proposed LT Bk     CRISIL A       114.5   Reaffirmed
                                        Loan Fac
Darshita Infrastructure Pvt Ltd         Proposed LT Bk     CRISIL A       2250    Assigned
                                        Loan Fac
Debonair Realtors Pvt Ltd               Drop Line          CRISIL A       580     Reaffirmed
                                        Overdraft Fac
Debonair Realtors Pvt Ltd               Proposed LT Bk     CRISIL A       270     Reaffirmed
                                        Loan Fac
DNV Realty                              Project Loan       CRISIL BB      70      Upgraded from
                                                                                  CRISIL BB-
GH Reddy and Associates (Construction)  CC                 CRISIL B       10      Downgraded
Pvt Ltd                                                                           from CRISIL
                                                                                  B+
GH Reddy and Associates (Construction)  Proposed LT Bk     CRISIL B       40      Downgraded
Pvt Ltd                                 Loan Fac                                  from CRISIL
                                                                                  B+
GNT Exports                             Proposed LT Bk     CRISIL B       10      Assigned
                                        Loan Fac
Greenage Griha Nirman Pvt Ltd           Proposed LT Bk     CRISIL A       750     Reaffirmed
                                        Loan Fac
Gujarat State Petroleum Corporation Ltd TL**               CRISIL A+      5201.3  Continues on
                                                                                  Rating Watch
                                                                                  with Negative
Implications
Gujarat State Petroleum Corporation Ltd ST Loan            CRISIL A+      13500   Withdrawal
Gujarat State Petroleum Corporation Ltd TL                 CRISIL A+      46478.1 Withdrawal
Gupta Trading Company                   CC                 CRISIL B+      85      Assigned
Gupta Trading Company                   Proposed CC Limit  CRISIL B+      55      Assigned
Harkeshwar Realtors Pvt Ltd             Drop Line          CRISIL A       50      Reaffirmed
                                        Overdraft Fac
Harkeshwar Realtors Pvt Ltd             Proposed LT Bk     CRISIL A       950     Reaffirmed
                                        Loan Fac
Hindustan Engineering Training Centre   CC                 CRISIL BBB+    250     Reaffirmed
Hindustan Engineering Training Centre   TL                 CRISIL BBB+    310     Reaffirmed
India Infradebt Ltd                     NCD                CRISIL AAA     40000   Assigned
India Infradebt Ltd                     NCD                CRISIL AAA     2000    Reaffirmed
India Infradebt Ltd                     NCDs               CRISIL AAA     40000   Reaffirmed
J Korin Spinning Pvt Ltd                CC                 CRISIL BB      70      Reaffirmed
J Korin Spinning Pvt Ltd                LT Loan            CRISIL BB      151.9   Reaffirmed
J Korin Spinning Pvt Ltd                Proposed LT Bk     CRISIL BB      50.1    Reaffirmed
                                        Loan Fac

Jaypeem Granites Pvt Ltd                TL                 CRISIL B       3       Assigned
Jaypeem Granites Pvt Ltd                Proposed LT Bk     CRISIL B       52      Assigned
                                        Loan Fac
Jaypeem Granites Pvt Ltd                Foreign LOC        CRISIL B       5       Assigned
Jaypeem Granites Pvt Ltd                CC                 CRISIL B       15      Assigned
JM Financial Products Ltd               CC                 CRISIL AA      2000    Reaffirmed
JM Financial Products Ltd               LT Bk Fac          CRISIL AA      2000    Reaffirmed
JM Financial Products Ltd               Proposed LT Bk     CRISIL AA      1000    Reaffirmed
                                        Loan Fac
KND Engineering Technologies Ltd        CC                 CRISIL B+      150     Issuer Not
                                                                                  Cooperating
                                                                                  Removed
                                                                                  from Notice of
                                                                                  withdrawal
                                                                                  Downgraded
                                                                                  from
                                                                                  CRISIL BB+
KND Engineering Technologies Ltd        Proposed BG        CRISIL B+      200     Issuer Not
                                                                                  Cooperating
                                                                                  Removed
                                                                                  from Notice of
                                                                                  withdrawal
                                                                                  Downgraded
                                                                                  from
                                                                                  CRISIL BB+
Koelle Designs Pvt Ltd                  TL                 CRISIL BB-     9.2     Assigned
Koelle Designs Pvt Ltd                  CC#                CRISIL BB-     50      Assigned
# Packing Credit facility upto Rs.1 crore as a sub-limit of cash credit facility
Koelle Designs Pvt Ltd                  Proposed LT Bk     CRISIL BB-     20.8    Assigned
                                        Loan Fac
Life Line Feeds India Pvt Ltd           Proposed TL        CRISIL BBB-    175     Reaffirmed
Mahindra Rural Housing Finance Ltd      LT Bk Fac          CRISIL AA+     11000   Reaffirmed
Mahindra Rural Housing Finance Ltd      WC Demand Loan     CRISIL AA+     1500    Reaffirmed
Manappuram Home Finance Pvt Ltd         Proposed LT Bk     CRISIL A+      1100    Reaffirmed
                                        Loan Fac
Manappuram Home Finance Pvt Ltd         TL                 CRISIL A+      650     Reaffirmed
Manappuram Home Finance Pvt Ltd         WC Loan            CRISIL A+      250     Reaffirmed
Mascot Properties Pvt Ltd               Drop Line          CRISIL A       50      Reaffirmed
                                        Overdraft Fac
Mascot Properties Pvt Ltd               Proposed LT Bk     CRISIL A       400     Reaffirmed
                                        Loan Fac
Mindcomp Properties Pvt Ltd             Proposed LT Bk     CRISIL A       1500    Assigned
                                        Loan Fac
Mindcomp Tech Park Pvt Ltd              Drop Line          CRISIL A       480     Reaffirmed
                                        Overdraft Fac
Mindcomp Tech Park Pvt Ltd              Proposed LT Bk     CRISIL A       420     Assigned
                                        Loan Fac
Monotype Grihanirman Pvt Ltd            Proposed LT Bk     CRISIL A       700     Assigned
                                        Loan Fac
Mukesh and Associates                   CC/ Overdraft Fac  CRISIL B+      83.5    Assigned
Mukesh and Associates                   Proposed CC Limit  CRISIL B+      12.5    Assigned
N. Satish Exports Pvt Ltd               Export Packing     CRISIL BB      137.5   Reaffirmed
                                        Credit
N. Satish Exports Pvt Ltd               Post Shipment      CRISIL BB      162.5   Reaffirmed
                                        Credit
N. Satish Exports Pvt Ltd               Proposed LT Bk     CRISIL BB      60      Reaffirmed
                                        Loan Fac
Neelanchal Projects LLP                 Proposed LT Bk     CRISIL A       1000    Assigned
                                        Loan Fac
Neelanchal Realtors LLP                 CC                 CRISIL A       500     Reaffirmed
Neelanchal Realtors LLP                 Proposed LT Bk     CRISIL A       250     Reaffirmed
                                        Loan Fac
Nem Laboratories Pvt Ltd                Proposed TL        CRISIL BB      17.5    Assigned
Nem Laboratories Pvt Ltd                Proposed LT Bk     CRISIL BB      7       Assigned
                                        Loan Fac
Nem Laboratories Pvt Ltd                CC                 CRISIL BB      15      Assigned
Nirupama Cold Storage Pvt Ltd           CC                 CRISIL B       65      Reaffirmed
Nirupama Cold Storage Pvt Ltd           Proposed LT Bk     CRISIL B       7.1     Reaffirmed
                                        Loan Fac
Nirupama Cold Storage Pvt Ltd           TL                 CRISIL B       8.4     Reaffirmed
Nirupama Cold Storage Pvt Ltd           WC Fac             CRISIL B       10      Reaffirmed
Northern Sky Properties Pvt Ltd         LT Loan            -              190     Withdrawal
Northern Sky Properties Pvt Ltd         TL                 CRISIL BB-     60      Reaffirmed
OSL Healthcare Pvt Ltd                  TL                 CRISIL B+      1610    Reaffirmed
Pluto Realtors Pvt Ltd                  Proposed LT Bk     CRISIL A       100     Reaffirmed
                                        Loan Fac
Poorna Build-Tech Pvt Ltd               Drop Line          CRISIL A       200     Assigned
                                        Overdraft Fac
Poorna Build-Tech Pvt Ltd               Proposed LT Bk     CRISIL A       600     Assigned
                                        Loan Fac
Poppy Realtors Pvt Ltd                  Drop Line          CRISIL A       200     Reaffirmed
                                        Overdraft Fac
Poppy Realtors Pvt Ltd                  TL                 CRISIL A       250     Reaffirmed
Quadro Info Technologies Pvt Ltd        Drop Line          CRISIL A       531     Reaffirmed
                                        Overdraft Fac
Quadro Info Technologies Pvt Ltd        Proposed LT Bk     CRISIL A       93.5    Reaffirmed
                                        Loan Fac
Quadro Info Technologies Pvt Ltd        TL                 CRISIL A       375.5   Reaffirmed
Rajlaxmi Griha Nirman Pvt Ltd           Proposed LT Bk     CRISIL A       1500    Reaffirmed
                                        Loan Fac
Rajmata Realtors Pvt Ltd                Drop Line          CRISIL A       500     Reaffirmed
                                        Overdraft Fac
Rajmata Realtors Pvt Ltd                TL                 CRISIL A       500     Reaffirmed
Rajshree Impex Pvt Ltd                  Proposed LT Bk     CRISIL BB-     4.7     Assigned
                                        Loan Fac
Rajshree Impex Pvt Ltd                  LT Loan            CRISIL BB-     35.3    Assigned
Rajshree Impex Pvt Ltd                  CC                 CRISIL BB-     40      Assigned
S.S. Constructions                      CC                 CRISIL B+      30      Reaffirmed
Salarpuria Developers Pvt Ltd           TL                 CRISIL A       133.75  Assigned
Salarpuria Developers Pvt Ltd           Drop Line          CRISIL A       133.75  Assigned
                                        Overdraft Fac
Salarpuria Developers Pvt Ltd           Proposed LT Bk     CRISIL A       107.5   Assigned
                                        Loan Fac
Salarpuria Griha Nirman Pvt Ltd         Drop Line          CRISIL A       310     Reaffirmed
                                        Overdraft Fac
Salarpuria Griha Nirman Pvt Ltd         TL                 CRISIL A       690     Reaffirmed
Salarpuria Housing Pvt Ltd              Overdraft          CRISIL A       100     Reaffirmed
Salarpuria Properties Pvt Ltd           Drop Line          CRISIL A       910     Reaffirmed
                                        Overdraft Fac
Salarpuria Properties Pvt Ltd           Rupee TL           CRISIL A       910     Reaffirmed
Salarpuria Real Estates Pvt Ltd         Overdraft          CRISIL A       50      Reaffirmed
Salarpuria Real Estates Pvt Ltd         Proposed LT Bk     CRISIL A       225     Assigned
                                        Loan Fac
Samal Equip                             CC                 CRISIL BB-     10      Upgraded from
                                                                                  CRISIL B+
Samal Equip                             Inventory Funding  CRISIL BB-     125     Upgraded from
                                        Fac                                       CRISIL B+
Sattva Builders Pvt Ltd                 CC                 CRISIL A       370     Reaffirmed
Sattva Developers Pvt Ltd               Drop Line          CRISIL A       830     Reaffirmed
                                        Overdraft Fac
Sattva Developers Pvt Ltd               Proposed LT Bk     CRISIL A       40      Reaffirmed
                                        Loan Fac
Sattva Developers Pvt Ltd               TL                 CRISIL A       130     Reaffirmed
Sattva Housing Pvt Ltd                  Drop Line          CRISIL A       299.3   Reaffirmed
                                        Overdraft Fac
Sattva Real Estate Pvt Ltd              Drop Line          CRISIL A       60      Reaffirmed
                                        Overdraft Fac
Sattva Real Estate Pvt Ltd              Proposed LT Bk     CRISIL A       30      Reaffirmed
                                        Loan Fac
Sattva Real Estate Pvt Ltd              Rupee TL           CRISIL A       60      Reaffirmed
Shakti Mines and Minerals (A Unit of    CC                 CRISIL B+      80      Reaffirmed
Shakti Agencies Pvt Ltd)
Shakti Mines and Minerals (A Unit of    Proposed LT Bk     CRISIL B+      50      Reaffirmed
Shakti Agencies Pvt Ltd)                Loan Fac
Softzone Tech Park Ltd                  Drop Line          CRISIL A       3000    Reaffirmed
                                        Overdraft Fac
Softzone Tech Park Ltd                  Rupee TL           CRISIL A       1750    Reaffirmed
SPPL Property Management Pvt Ltd        Overdraft          CRISIL A       150     Assigned
SPPL Property Management Pvt Ltd        Proposed LT Bk     CRISIL A       225     Assigned
                                        Loan Fac
Sri Jagannath Roller Flour Mills        CC                 CRISIL BBB-    295     Upgraded from
                                                                                  CRISIL BB
Sri Jagannath Roller Flour Mills        Corporate Loan     CRISIL BBB-    30      Upgraded from
                                                                                  CRISIL BB
Sri Jagannath Roller Flour Mills        Proposed LT Bk     CRISIL BBB-    29      Upgraded from
                                        Loan Fac                                  CRISIL BB
Sri Jagannath Roller Flour Mills        TL                 CRISIL BBB-    36      Upgraded from
                                                                                  CRISIL BB
Sri Sai Swarupa Seeds Pvt Ltd           CC                 CRISIL BB      80      Assigned
*Interchangeable with Export Packing Credit
Vantage Motors LLP                      Cash TL            CRISIL B       24      Assigned
Vantage Motors LLP                      Inventory Funding  CRISIL B       45      Assigned
                                        Fac
Vetrivel Explosives Pvt Ltd             CC                 CRISIL B       150     Reaffirmed
Vetrivel Explosives Pvt Ltd             TL                 CRISIL B       314.5   Reaffirmed
Vitthalrao Shinde Sahakari Sakhar       Proposed LT Bk     CRISIL B+      350     Reaffirmed
Karkhana Ltd                            Loan Fac
Vitthalrao Shinde Sahakari Sakhar       Sugar Pledge CC    CRISIL B+      3250    Reaffirmed
Karkhana Ltd
Worldwide Realcon Pvt Ltd               Proposed LT Bk     CRISIL A       4000    Assigned
                                        Loan Fac
--------------------------------------------------------------------------------------------
$: 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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