April 19, 2017 / 6:25 AM / 4 months ago

CRISIL ratings for Indian debt instruments-Apr 19

    Apr 19 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 18, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Acer Granito Pvt Ltd                    BG                 CRISIL A2      76.5    Upgraded from
                                                                                  CRISIL A3
Adarsh Guar Gum Udyog                   Bill Purchase      CRISIL A4      75      Assigned
Adarsh Guar Gum Udyog                   Packing Credit     CRISIL A4      75      Assigned
Bhanu Construction                      BG                 CRISIL A4      250     Issuer Not
                                                                                  Cooperating
Bremels Rubber Industries Pvt Ltd       BG                 CRISIL A4      20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Bremels Rubber Industries Pvt Ltd       LOC                CRISIL A4      20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Charming Printing and Graphics Pvt Ltd  LOC                CRISIL A4      130     Reaffirmed
DGP Steel Star Engineering Pvt Ltd      BG                 CRISIL A4      40      Upgraded from
                                                                                  CRISIL D
Duflon Industries Pvt Ltd               BG                 CRISIL A4+     3.5     Upgraded from
                                                                                  CRISIL A4
Duflon Industries Pvt Ltd               LOC                CRISIL A4+     90      Upgraded from
                                                                                  CRISIL A4
Elegant Collection                      BG                 CRISIL A2+     5       Reaffirmed
Elegant Collection                      Foreign Exchange   CRISIL A2+     20      Reaffirmed
                                        Forward
Geethalaya Exports                      BG                 CRISIL A3      2.5     Reaffirmed
Geethalaya Exports                      Export Packing     CRISIL A3      100     Reaffirmed
                                        Credit
Geethalaya Exports                      LOC                CRISIL A3      2       Reaffirmed
Geethalaya Exports                      Standby Line of    CRISIL A3      16      Reaffirmed
                                        Credit
IC Electricals Company Pvt Ltd          BG                 CRISIL A4+     60      Reaffirmed
Krishna Speciality Chemicals Pvt Ltd    LOC                CRISIL A2      60      Assigned
M.K.Engineering                         BG                 CRISIL A4+     150     Reaffirmed
Malik and Company                       BG                 CRISIL A4+     20      Assigned
Reliance Ports and Terminals Ltd        LOC & BG           CRISIL A1+     3000    Reaffirmed
Reliance Ports and Terminals Ltd        Proposed LOC & BG  CRISIL A1+     3000    Reaffirmed
Sri Balamurugan Engineering Works Pvt   BG                 CRISIL A4      10      Reaffirmed
Ltd
Stanfab Apparels Pvt Ltd                BG                 CRISIL A3      2.5     Reaffirmed
Stanfab Apparels Pvt Ltd                Export Packing     CRISIL A3      113     Reaffirmed
                                        Credit
Stanfab Apparels Pvt Ltd                Foreign Bill       CRISIL A3      143     Reaffirmed
                                        Discounting
Stanfab Apparels Pvt Ltd                LOC                CRISIL A3      20      Reaffirmed
Tega Industries Ltd                     LOC                CRISIL A2      660     Downgraded
                                                                                  from CRISIL
                                                                                  A2+
Uni Gem India Pvt Ltd                   Export Packing     CRISIL A2+     350     Reaffirmed
                                        Credit*
*Fully Interchangeable
Uni Gem India Pvt Ltd                   Foreign Exchange   CRISIL A2+     2.2     Reaffirmed
                                        Forward
Uni Gem India Pvt Ltd                   Post Shipment      CRISIL A2+     106     Reaffirmed
                                        Credit*
*Fully Interchangeable

LONG TERM RATINGS:
-------------------
Acer Granito Pvt Ltd                    CC                 CRISIL BBB+    180     Upgraded from
                                                                                  CRISIL BBB-
Acer Granito Pvt Ltd                    Proposed LT Bk     CRISIL BBB+    9.4     Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Acer Granito Pvt Ltd                    TL                 CRISIL BBB+    344.1   Upgraded from
                                                                                  CRISIL BBB-
B. Odhavji and Company                  CC                 CRISIL BBB-    100     Reaffirmed
Bagga Luxury Motorcars LLP              CC                 CRISIL B+      100     Assigned
Bhanu Construction                      CC                 Withdrawal     50      Issuer Not
                                                                                  Cooperating
Bremels Rubber Industries Pvt Ltd       Bill Discounting   CRISIL B       30      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Bremels Rubber Industries Pvt Ltd       CC                 CRISIL B       70      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Bremels Rubber Industries Pvt Ltd       TL                 CRISIL B       150     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Charming Printing and Graphics Pvt Ltd  CC                 CRISIL B       40      Reaffirmed
DGP Steel Star Engineering Pvt Ltd      CC                 CRISIL B-      20      Upgraded from
                                                                                  CRISIL D
DGP Steel Star Engineering Pvt Ltd      Proposed LT Bk     CRISIL B-      2.5     Upgraded from
                                        Loan Fac                                  CRISIL D
DGP Steel Star Engineering Pvt Ltd      TL                 CRISIL B-      5       Upgraded from
                                                                                  CRISIL D
Duflon Industries Pvt Ltd               CC                 CRISIL BB-     40      Upgraded from
                                                                                  CRISIL B+
Duflon Industries Pvt Ltd               Export Packing     CRISIL BB-     300     Upgraded from
                                        Credit                                    CRISIL B+

Duflon Industries Pvt Ltd               Proposed LT Bk     CRISIL BB-     189.1   Upgraded from
                                        Loan Fac                                  CRISIL B+
Duflon Industries Pvt Ltd               TL                 CRISIL BB-     77.4    Upgraded from
                                                                                  CRISIL B+
Elegant Collection                      Export Packing     CRISIL A-      230     Reaffirmed
                                        Credit*
*Fully interchangeable
Elegant Collection                      Post Shipment      CRISIL A-      370     Reaffirmed
                                        Credit*
*Fully interchangeable
Elegant Collection                      Proposed LT Bk     CRISIL A-      35      Reaffirmed
                                        Loan Fac
Elegant Collection                      Standby Line of    CRISIL A-      40      Assigned
                                        Credit
Erode Steels                            CC                 CRISIL BB-     145     Reaffirmed
Geethalaya Exports                      LT Loan            CRISIL BBB-    82      Reaffirmed
Geethalaya Exports                      Proposed LT Bk     CRISIL BBB-    7.5     Reaffirmed
                                        Loan Fac
Gurmon Hotels Pvt Ltd                   TL                 CRISIL B-      2000    Reaffirmed
GVR Automotives Pvt Ltd                 Proposed TL        CRISIL B       65      Assigned
GVR Automotives Pvt Ltd                 Proposed CC Limit  CRISIL B       20      Assigned
GVR Automotives Pvt Ltd                 Proposed LT Bk     CRISIL B       25      Assigned
                                        Loan Fac
HGP Cars Pvt Ltd                        TL                 CRISIL B+      5       Assigned
HGP Cars Pvt Ltd                        CC                 CRISIL B+      30      Assigned
HGP Cars Pvt Ltd                        Inventory Funding  CRISIL B+      100     Assigned
                                        Fac
IC Electricals Company Pvt Ltd          CC                 CRISIL BB      155     Reaffirmed
KAF Footwear Industries                 Bill Discounting   CRISIL BB+     180     Assigned
KAF Footwear Industries                 CC                 CRISIL BB+     100     Assigned
Krishna Speciality Chemicals Pvt Ltd    CC                 CRISIL BBB+    120     Assigned
M.K.Engineering                         CC                 CRISIL BB      15      Upgraded from
                                                                                  CRISIL BB-
M.K.Engineering                         Proposed LT Bk     CRISIL BB      5       Upgraded from
                                        Loan Fac                                  CRISIL BB-
Malik and Company                       CC                 CRISIL BB-     100     Assigned
Rakesh Credits Ltd                      Proposed LT Bk     CRISIL B       80      Reaffirmed
                                        Loan Fac
Reliance Gas Transportation             LOC*               CRISIL AAA     10155.3 Reaffirmed
Infrastructure Ltd
* Equivalent to USD 212.7 Million
Reliance Gas Transportation             TL                 CRISIL AAA     105000  Reaffirmed
Infrastructure Ltd
Reliance Ports and Terminals Ltd        Rupee TL           CRISIL AAA     29100.1 Reaffirmed
Shine Flexible Print And Packs Pvt Ltd  CC                 CRISIL B+      50      Reaffirmed
Shine Flexible Print And Packs Pvt Ltd  Proposed LT Bk     CRISIL B+      23.6    Reaffirmed
                                        Loan Fac
Shine Flexible Print And Packs Pvt Ltd  TL                 CRISIL B+      16.4    Reaffirmed
Somany Fine Vitrified Pvt Ltd           CC                 CRISIL A       250     Upgraded from
                                                                                  CRISIL BBB
Somany Fine Vitrified Pvt Ltd           LT Loan            CRISIL A       150     Upgraded from
                                                                                  CRISIL BBB
Sri Balamurugan Engineering Works Pvt   Open CC            CRISIL B       60      Reaffirmed
Ltd
Sri Balamurugan Engineering Works Pvt   Proposed LT Bk     CRISIL B       30      Reaffirmed
Ltd                                     Loan Fac
Stanfab Apparels Pvt Ltd                LT Loan            CRISIL BBB-    70      Reaffirmed
Stanfab Apparels Pvt Ltd                Proposed LT Bk     CRISIL BBB-    37.3    Reaffirmed
                                        Loan Fac
Stanfab Apparels Pvt Ltd                Standby Line of    CRISIL BBB-    55      Reaffirmed
                                        Credit
Stanfab Apparels Pvt Ltd                TL                 CRISIL BBB-    65      Reaffirmed
Sterlite Technologies Ltd               CC                 CRISIL AA-     5600    Reaffirmed
Sterlite Technologies Ltd               LOC & BG           CRISIL AA-     23100   Reaffirmed
Sterlite Technologies Ltd               TL                 CRISIL AA-     1681.3  Reaffirmed
SunTec Infrastructure Pvt Ltd           Proposed LT Bk     CRISIL BBB     1000    Reaffirmed
                                        Loan Fac
Tega Industries (Sez) Ltd               CC*                CRISIL BBB+    500     Downgraded
                                                                                  from CRISIL A-
*Interchangeable with non-fund-based bank facilities
Tega Industries (Sez) Ltd               LT Loan            CRISIL BBB+    400     Downgraded
                                                                                  from CRISIL A-
Tega Industries (Sez) Ltd               Proposed LT Bk     CRISIL BBB+    100     Downgraded
                                        Loan Fac                                  from CRISIL A-
Tega Industries Ltd                     CC^                CRISIL BBB+    1120    Downgraded
                                                                                  from CRISIL A-
TSI Business Parks (Hyderabad) Pvt Ltd  Lease Rental       CRISIL A-      3850    Reassigned
                                        Discounting Loan                          from CRISIL A-
TSI Business Parks (Hyderabad) Pvt Ltd  TL                 CRISIL A-      1555    Upgraded from
                                                                                  CRISIL BBB
Uni Gem India Pvt Ltd                   Export Packing     CRISIL A-      2103.6  Reaffirmed
                                        Credit*
*Fully Interchangeable
Uni Gem India Pvt Ltd                   Post Shipment      CRISIL A-      1440.4  Reaffirmed
                                        Credit*
*Fully Interchangeable
Uni Gem India Pvt Ltd                   Proposed LT Bk     CRISIL A-      7.8     Reaffirmed
                                        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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