April 18, 2017 / 5:38 AM / 6 months ago

CRISIL ratings for Indian debt instruments-Apr 18

    Apr 18 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 17, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
AKJA Exim Pvt Ltd                       LOC                CRISIL A4      100     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
AKJA Exim Pvt Ltd                       Packing Credit     CRISIL A4      20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Amara Raja Infra Pvt Ltd                BG**               CRISIL A3+     325     Reaffirmed
** Rs.2.5 crores interchangeable with Letter of credit and Bank guarantee
Amara Raja Infra Pvt Ltd                LOC*               CRISIL A3+     50      Reaffirmed
* Interchangeable with LC and BG
Bhagwati Steel Cast Pvt Ltd             BG                 CRISIL A3+     67.5    Reaffirmed
Bhagwati Steel Cast Pvt Ltd             LOC                CRISIL A3+     100     Reaffirmed
Bharti Enterprises (Holding) Pvt Ltd    CP                 CRISIL A1+     23000   Reaffirmed
Bharti Enterprises (Holding) Pvt Ltd    ST NCD             CRISIL A1+     13000   Withdrawal
Biorad Medisys Pvt Ltd                  LOC                CRISIL A4+     20      Reaffirmed
Clayris Ceramics Pvt Ltd                BG                 CRISIL D       40      Downgraded
                                                                                  from CRISIL A4
Clayris Ceramics Pvt Ltd                LOC                CRISIL D       20      Downgraded
                                                                                  from CRISIL A4
Econ Antri Ltd                          BG                 CRISIL A3      180     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Ghankun Steels Pvt Ltd                  BG                 CRISIL A4+     50      Reaffirmed
Ghankun Steels Pvt Ltd                  LOC                CRISIL A4+     200     Reaffirmed
Greatweld Engineering Pvt Ltd           BG                 CRISIL A4+     50      Assigned
JK Paper Ltd                            WC Fac             CRISIL A1      2450    Assigned
JK Paper Ltd                            WC Fac             CRISIL A1      3700    Assigned
JK Paper Ltd                            Proposed WC Fac    CRISIL A1      50      Assigned
JK Paper Ltd                            CP                 CRISIL A1      500     Assigned
K. M. Mohammed Rasheed                  BG                 CRISIL A4      5       Reaffirmed
K.N. Srinivasa                          BG                 CRISIL A4      5       Reaffirmed
MCo Hospital Aids Pvt Ltd               LOC                CRISIL A4      7       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Nirav Metals Pvt Ltd                    BG                 CRISIL A4      10      Reaffirmed
Nirav Metals Pvt Ltd                    LOC                CRISIL A4      15      Reaffirmed
Redington India Ltd                     BG                 CRISIL A1+     850     Reaffirmed
Redington India Ltd                     LOC                CRISIL A1+     3424    Reaffirmed
Redington India Ltd                     ST Loan            CRISIL A1+     4730    Reaffirmed
Redington India Ltd                     ST Debt (Including CRISIL A1+     14000   Reaffirmed
                                        CP)
Saicon Tiles Pvt Ltd                    BG                 CRISIL A4      5       Reaffirmed
Simpex Granito Pvt Ltd                  BG                 CRISIL A4+     26      Reaffirmed
Sleek International Pvt Ltd             Non-FBL            CRISIL A2      50      Reaffirmed
Suntec Business Solutions Pvt Ltd       Export Packing     CRISIL A2+     230     Reaffirmed
                                        Credit
Suntec Business Solutions Pvt Ltd       Proposed Packing   CRISIL A2+     5       Reaffirmed
                                        Credit
Uniline Energy Systems Pvt Ltd          Bill Purchase      CRISIL A4+     45      Downgraded
                                        Discounting Fac                           from CRISIL A3
V. Meenal                               BG                 CRISIL A4+     10      Reaffirmed
V. N. V. Builders Pvt Ltd               BG                 CRISIL A4+     25      Reaffirmed

LONG TERM RATINGS:
-------------------
AKJA Exim Pvt Ltd                       Proposed LT Bk     CRISIL B+      5       Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Amara Raja Infra Pvt Ltd                CC                 CRISIL BBB     125     Reaffirmed
Bhagwati Steel Cast Pvt Ltd             CC                 CRISIL BBB     260     Reaffirmed
Bhagwati Steel Cast Pvt Ltd             Proposed LT Bk     CRISIL BBB     7.4     Reaffirmed
                                        Loan Fac
Bhagwati Steel Cast Pvt Ltd             TL                 CRISIL BBB     149.7   Reaffirmed
Biorad Medisys Pvt Ltd                  CC                 CRISIL BB+     150     Reaffirmed
Biorad Medisys Pvt Ltd                  Proposed LT Bk     CRISIL BB+     24.5    Reaffirmed
                                        Loan Fac
Biorad Medisys Pvt Ltd                  TL                 CRISIL BB+     68.8    Reaffirmed
Clayris Ceramics Pvt Ltd                CC                 CRISIL D       100     Downgraded
                                                                                  from CRISIL C
Clayris Ceramics Pvt Ltd                LT Loan            CRISIL D       283.6   Downgraded
                                                                                  from CRISIL C
Clayris Ceramics Pvt Ltd                Proposed LT Bk     CRISIL D       3.6     Downgraded
                                        Loan Fac                                  from CRISIL C
Coimbatore Roller Flour Mills Pvt Ltd   CC                 CRISIL BB      93      Reaffirmed
East North Interconnection Co. Ltd      NCD                CRISIL AAA(SO) 9250    Reaffirmed
Econ Antri Ltd                          CC                 CRISIL BBB-    20      Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Econ Antri Ltd                          Proposed LT Bk     CRISIL BBB-    1.5     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB
Ghankun Steels Pvt Ltd                  CC                 CRISIL BB-     180     Reaffirmed
Ghankun Steels Pvt Ltd                  Proposed LT Bk     CRISIL BB-     6       Reaffirmed
                                        Loan Fac
Ghankun Steels Pvt Ltd                  TL                 CRISIL BB-     344     Reaffirmed
GMR Airports Ltd                        NCD                CRISIL AA-     5000    Assigned
Greatweld Engineering Pvt Ltd           Rupee TL           CRISIL BB      80      Assigned
Greatweld Engineering Pvt Ltd           Foreign LOC        CRISIL BB      130     Assigned
Greatweld Engineering Pvt Ltd           CC                 CRISIL BB      160     Assigned
Himachal Hydel Projects Pvt Ltd         LT Loan            CRISIL D       180     Reaffirmed
Hindustan Institute of Technology and   CC                 CRISIL BBB+    300     Reaffirmed
Science
Hindustan Institute of Technology and   LT Loan            CRISIL BBB+    250     Reaffirmed
Science
Hindustan Institute of Technology and   Proposed LT Bk     CRISIL BBB+    125     Reaffirmed
Science                                 Loan Fac
India Grid Trust                        Corporate Credit   CCR AAA        -       Reaffirmed
                                        Rating
Infissi Fenestration LLP                CC                 CRISIL B       35      Reaffirmed
Infissi Fenestration LLP                LT Loan            CRISIL B       33.5    Reaffirmed
Infissi Fenestration LLP                Proposed LT Bk     CRISIL B       1.5     Reaffirmed
                                        Loan Fac
J.K. Pulse Manufacturer Pvt Ltd         Buyer`s Credit     CRISIL BB-     75      Reaffirmed
J.K. Pulse Manufacturer Pvt Ltd         CC                 CRISIL BB-     100     Reaffirmed
JK Paper Ltd                            TL                 CRISIL A       64.8    Assigned
JK Paper Ltd                            Rupee TL           CRISIL A       11251.1 Assigned
JK Paper Ltd                            Proposed Rupee TL  CRISIL A       4.1     Assigned
JK Paper Ltd                            NCD                CRISIL A       500     Assigned
K. M. Mohammed Rasheed                  CC                 CRISIL B+      65      Upgraded from
                                                                                  CRISIL B
K.N. Srinivasa                          Overdraft          CRISIL B       50      Reaffirmed
K.N. Srinivasa                          Proposed Overdraft CRISIL B       40      Assigned
                                        Fac
Keshav Cotton Industries                CC                 CRISIL B       50      Reaffirmed
Keshav Cotton Industries                Proposed LT Bk     CRISIL B       15.5    Reaffirmed
                                        Loan Fac
Keshav Cotton Industries                TL                 CRISIL B       24.5    Reaffirmed
MCo Hospital Aids Pvt Ltd               CC                 CRISIL B+      68      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
MCo Hospital Aids Pvt Ltd               TL                 CRISIL B+      5       Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Nirav Metals Pvt Ltd                    CC                 CRISIL B+      75      Reaffirmed
RAPP Transmission Co. Ltd               Proposed TL        CRISIL A       2200    Upgraded from
                                                                                  CRISIL BBB
Redington India Ltd                     CC                 CRISIL AA-     7386.9  Reaffirmed
Redington India Ltd                     Proposed CC Limit  CRISIL AA-     1109.1  Reaffirmed
S.K. Medical Foundation Pvt Ltd         TL                 CRISIL BB-     100     Reaffirmed
Saicon Tiles Pvt Ltd                    CC                 CRISIL B       25      Reaffirmed
Saicon Tiles Pvt Ltd                    Proposed LT Bk     CRISIL B       42.5    Reaffirmed
                                        Loan Fac
Saicon Tiles Pvt Ltd                    TL                 CRISIL B       52.5    Reaffirmed
Sandla Wind Project Pvt Ltd             TL                 CRISIL BBB-    742     Assigned
Shere Punjab Jewellers Pvt Ltd          CC                 CRISIL BB-     140     Reaffirmed
Shyam Enterprises                       CC                 CRISIL B       370.7   Downgraded
                                                                                  from CRISIL B+
Shyam Enterprises                       Proposed LT Bk     CRISIL B       12.3    Downgraded
                                        Loan Fac                                  from CRISIL B+
Simpex Granito Pvt Ltd                  CC                 CRISIL BB-     70      Reaffirmed
Simpex Granito Pvt Ltd                  TL                 CRISIL BB-     63.3    Reaffirmed
Sleek International Pvt Ltd             Overdraft*         CRISIL BBB+    300     Reaffirmed
*Fully Interchangeable with letter of credit, bill discounting, invoice bill discounting, bank
guarantee, buyer's credit, and letter of undertaking
Uniline Energy Systems Pvt Ltd          CC                 CRISIL BB+     70      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Uniline Energy Systems Pvt Ltd          Proposed CC Limit  CRISIL BB+     25      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
V. Meenal                               CC                 CRISIL BB-     80      Reaffirmed
V. Meenal                               Proposed CC Limit  CRISIL BB-     35      Reaffirmed
V. N. V. Builders Pvt Ltd               LT Bk Fac          CRISIL BB-     19      Reaffirmed
V. N. V. Builders Pvt Ltd               Overdraft          CRISIL BB-     60      Reaffirmed
V.R. Foundries                          Bill Discounting   CRISIL D       40      Reaffirmed
V.R. Foundries                          CC                 CRISIL D       150     Reaffirmed
V.R. Foundries                          TL                 CRISIL D       420     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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