June 2, 2017 / 4:46 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Jun 2

19 Min Read

    Jun 2 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 1, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Bhavani Enterprises                     LOC                CRISIL A4      192.5   Upgraded from
                                                                                  CRISIL D
Bhavani Saw Mill.                       LOC                CRISIL A4      192.5   Upgraded from
                                                                                  CRISIL D
Concept Shapers and Electronics Pvt Ltd BG                 CRISIL A4+     50      Upgraded from
                                                                                  CRISIL A4
Concept Shapers and Electronics Pvt Ltd LOC                CRISIL A4+     50      Upgraded from
                                                                                  CRISIL A4
Devendran Plastic Pvt Ltd               LOC                CRISIL A4      65      Reaffirmed
Devendran Plastic Pvt Ltd               LOC Bill           CRISIL A4      35      Reaffirmed
                                        Discounting
DJPR Constructions Pvt Ltd              BG                 CRISIL A4+     200     Reaffirmed
Karnataka Antibiotics and               BG                 CRISIL A1      32.5    Reaffirmed
Pharmaceuticals Ltd
Karnataka Antibiotics and               LOC                CRISIL A1      60      Reaffirmed
Pharmaceuticals Ltd
Mahindra Gears and Transmissions Pvt LtdExport Packing     CRISIL A1      350     Reassigned
                                        Credit$
$Interchangeable with FCNR for working capital to the extent of Rs 35 crore, cash credit to the
extent of Rs 25 crore, FUBD/FBP/PSFC to the extent of Rs 35 crore, letter of credit to the
extent of Rs 35 crore, bank guarantee to the extent of Rs 35 crore, and letter of undertaking to
the extent of Rs 35 crore
Sahyadri Farmers Producer Co. Ltd       Foreign Exchange   CRISIL A3      60      Reaffirmed
                                        Forward
Sahyadri Farmers Producer Co. Ltd       Import LOC Limit   CRISIL A3      12      Reaffirmed
Sahyadri Farmers Producer Co. Ltd       Packing Credit in  CRISIL A3      140     Reaffirmed
                                        Foreign Currency
Sakthi Ganesh Textiles Pvt Ltd          LOC                CRISIL A4      90      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Stedman Pharmaceuticals Pvt Ltd         BG                 CRISIL A4+     0.5     Reaffirmed
Stedman Pharmaceuticals Pvt Ltd         Bill Discounting   CRISIL A4+     5       Reaffirmed
                                        under LOC
Stedman Pharmaceuticals Pvt Ltd         LOC                CRISIL A4+     1.5     Reaffirmed
Thermo Cables Ltd                       BG                 CRISIL A3      430     Reaffirmed
Thermo Cables Ltd                       LOC                CRISIL A3      30      Reaffirmed
Thermo Polymers Pvt Ltd                 LOC                CRISIL A3      5       Reaffirmed
Thermopads Pvt Ltd                      BG                 CRISIL A2      40      Reaffirmed
Thermosystems Pvt Ltd                   BG                 CRISIL A3+     620     Upgraded from
                                                                                  CRISIL A3
Thermosystems Pvt Ltd                   LOC                CRISIL A3+     150     Upgraded from
                                                                                  CRISIL A3
Vinko Auto Industries Ltd               BG                 CRISIL A4      4       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Vinko Auto Industries Ltd               LOC                CRISIL A4      55      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Vinko Auto Industries Ltd               Packing Credit     CRISIL A4      50      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating

LONG TERM RATINGS:
-------------------
A. M. R. Rathinasabapathy and Bros      CC                 CRISIL BBB     120     Reaffirmed
Adani Power Ltd                         BG                 CRISIL BB-     11654   Notice of
                                                                                  Withdrawal
Issuer Not Cooperating
Adani Power Ltd                         LOC                CRISIL BB-     31120   Notice of
                                                                                  Withdrawal
Issuer Not Cooperating
Adani Power Ltd                         LT Loan            CRISIL BB-     18817.9 Notice of
                                                                                  Withdrawal
Issuer Not Cooperating
Adani Power Ltd                         WC Fac             CRISIL BB-     4000    Notice of
                                                                                  Withdrawal
Issuer Not Cooperating
Ambika Electronics                      Secured Overdraft  CRISIL BB-     170     Reaffirmed
                                        Fac
Aries Corporate Services Pvt Ltd        CC                 CRISIL BB      62.5    Assigned
Ashruly Engineering Pvt Ltd             BG                 CRISIL D       5       Reaffirmed
Issuer Not Cooperating
Ashruly Engineering Pvt Ltd             CC                 CRISIL D       37.5    Reaffirmed
Issuer Not Cooperating
Ashruly Engineering Pvt Ltd             LOC                CRISIL D       25      Reaffirmed
Issuer Not Cooperating
Ashruly Engineering Pvt Ltd             LT Loan            CRISIL D       28      Reaffirmed
Issuer Not Cooperating
Ashruly Engineering Pvt Ltd             Proposed LT Bk     CRISIL D       4.5     Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Asian Hotels (North) Ltd                LT Loan            CRISIL BBB-    3970    Reaffirmed
Asian Hotels (North) Ltd                Overdraft          CRISIL BBB-    130     Assigned
ATC Chemicals India Pvt Ltd             CC                 CRISIL B       40      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Issuer Not Cooperating
ATC Chemicals India Pvt Ltd             LT Loan            CRISIL B       15.2    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Issuer Not Cooperating
ATC Chemicals India Pvt Ltd             Proposed LT Bk     CRISIL B       4.8     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Issuer Not Cooperating
Bhavani Enterprises                     Overdraft          CRISIL B-      7.5     Upgraded from
                                                                                  CRISIL D
Bhavani Saw Mill.                       Overdraft          CRISIL B-      7.5     Upgraded from
                                                                                  CRISIL D
Bombay Education Society                Proposed LT Bk     CRISIL A-      120     Reaffirmed
                                        Loan Fac
Cheran Hardwares                        CC                 CRISIL B-      55      Reaffirmed
Issuer Not Cooperating
Concept Shapers and Electronics Pvt Ltd CC                 CRISIL BB+     50      Upgraded from
                                                                                  CRISIL B+
Concept Shapers and Electronics Pvt Ltd LT Loan            CRISIL BB+     28      Upgraded from
                                                                                  CRISIL B+
Devendran Plastic Pvt Ltd               CC                 CRISIL B       100     Reaffirmed
Devendran Plastic Pvt Ltd               Proposed LT Bk     CRISIL B       41      Reaffirmed
                                        Loan Fac
Devendran Plastic Pvt Ltd               Proposed WC Fac    CRISIL B       2.9     Reaffirmed
Devendran Plastic Pvt Ltd               TL                 CRISIL B       82.1    Assigned
DJPR Constructions Pvt Ltd              CC                 CRISIL BB+     50      Upgraded from
                                                                                  CRISIL BB
Dr.Shajis Mri and Medical Research      LT Loan            CRISIL D       135.8   Reaffirmed
Centre Pvt Ltd
Govaan Steels Pvt Ltd                   CC                 CRISIL D       100     Reaffirmed
Issuer Not Cooperating
Govaan Steels Pvt Ltd                   LOC                CRISIL D       200     Reaffirmed
Issuer Not Cooperating
Govaan Steels Pvt Ltd                   LT Loan            CRISIL D       150     Reaffirmed
Issuer Not Cooperating
Govaan Steels Pvt Ltd                   Proposed CC Limit  CRISIL D       71.4    Reaffirmed
Issuer Not Cooperating
Himalay Cold Storage                    Overdraft          CRISIL B-      60      Downgraded
                                                                                  from CRISIL B
Karnataka Antibiotics and               CC                 CRISIL A-      120     Reaffirmed
Pharmaceuticals Ltd
Karnataka Antibiotics and               TL                 CRISIL A-      182.3   Reaffirmed
Pharmaceuticals Ltd
Kumar Dhall Mills                       CC                 CRISIL BBB     80      Reaffirmed
Mahindra Gears and Transmissions Pvt LtdProposed LT Bk     CRISIL A+      490     Reaffirmed
                                        Loan Fac
Mayuri Electronics Pvt Ltd              CC                 CRISIL BB-     74      Assigned
Mayuri Electronics Pvt Ltd              LT Loan            CRISIL BB-     1       Assigned
Sadbhav Bhavnagar Highway Pvt Ltd       LT Loan            CRISIL A       4344.9  Assigned
Sahyadri Farmers Producer Co. Ltd       Proposed LT Bk     CRISIL BBB-    338     Reaffirmed
                                        Loan Fac
Sahyadri Farmers Producer Co. Ltd       TL                 CRISIL BBB-    150     Reaffirmed
Sakthi Ganesh Textiles Pvt Ltd          CC                 CRISIL B       80      Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Sakthi Ganesh Textiles Pvt Ltd          LT Loan            CRISIL B       70.1    Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Sakthi Ganesh Textiles Pvt Ltd          Standby Line of    CRISIL B       20      Downgraded
                                        Credit                                    from CRISIL BB
Issuer Not Cooperating
Sri Sowbhagya Lakshmi Paddy Boiling     CC                 CRISIL BB      158.5   Reaffirmed
Industries
Sri Sowbhagya Lakshmi Paddy Boiling     LT Loan            CRISIL BB      11.5    Reaffirmed
Industries
Sri Srinivasa Raw and Boiled Rice Mill  CC                 CRISIL BB-     190     Reaffirmed
Sri Srinivasa Raw and Boiled Rice Mill  LT Loan            CRISIL BB-     18      Reaffirmed
Stedman Pharmaceuticals Pvt Ltd         CC                 CRISIL BB+     50      Upgraded from
                                                                                  CRISIL BB
Stedman Pharmaceuticals Pvt Ltd         Proposed LT Bk     CRISIL BB+     30.8    Upgraded from
                                        Loan Fac                                  CRISIL BB
Stedman Pharmaceuticals Pvt Ltd         Standby Line of    CRISIL BB+     7.5     Upgraded from
                                        Credit                                    CRISIL BB
Thermo Cables Ltd                       CC                 CRISIL BBB-    550     Reaffirmed
Thermo Cables Ltd                       Proposed LT Bk     CRISIL BBB-    14.8    Reaffirmed
                                        Loan Fac
Thermo Cables Ltd                       TL                 CRISIL BBB-    35.2    Reaffirmed
Thermo Polymers Pvt Ltd                 CC                 CRISIL BBB-    65      Reaffirmed
Thermo Polymers Pvt Ltd                 LT Loan            CRISIL BBB-    6.7     Reaffirmed
Thermo Polymers Pvt Ltd                 Proposed LT Bk     CRISIL BBB-    23.3    Reaffirmed
                                        Loan Fac
Thermopads Pvt Ltd                      CC                 CRISIL BBB+    8.5     Reaffirmed
Thermopads Pvt Ltd                      Proposed LT Bk     CRISIL BBB+    51.5    Reaffirmed
                                        Loan Fac
Thermosystems Pvt Ltd                   CC                 CRISIL BBB     100     Upgraded from
                                                                                  CRISIL BBB-
Thermosystems Pvt Ltd                   Proposed LT Bk     CRISIL BBB     1.6     Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Trans Tech Turnkey Pvt Ltd              CC                 CRISIL D       350     Reaffirmed
Issuer Not Cooperating
Trans Tech Turnkey Pvt Ltd              LOC & BG           CRISIL D       1950    Reaffirmed
Issuer Not Cooperating
Trans Tech Turnkey Pvt Ltd              Proposed LT Bk     CRISIL D       50      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Trans Tech Turnkey Pvt Ltd              Proposed ST Bk     CRISIL D       100     Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Trans Tech Turnkey Pvt Ltd              TL                 CRISIL D       50      Reaffirmed
Issuer Not Cooperating
Vaibhav Cotton Corporation              CC                 CRISIL B+      140     Reaffirmed
Vaishnaoi Hotels (India) Pvt Lmited     LT Loan            CRISIL BB-     80      Assigned
Vaishnaoi Hotels (India) Pvt Lmited     Proposed LT Bk     CRISIL BB-     20      Assigned
                                        Loan Fac
Vaishnaoi Resorts And Motels (India)    Proposed LT Bk     CRISIL B+      100     Assigned
Pvt Ltd                                 Loan Fac
Vinayak Autolink Pvt Ltd                Inventory Funding  CRISIL BB      120     Reaffirmed
                                        Fac
Vinko Auto Industries Ltd               CC                 CRISIL B       29      Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Vinko Auto Industries Ltd               Proposed LT Bk     CRISIL B       19.9    Downgraded
                                        Loan Fac                                  from CRISIL BB
Issuer Not Cooperating
Vinko Auto Industries Ltd               TL                 CRISIL B       11.1    Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
VNR Homes Pvt Ltd                       LT Loan            CRISIL B-      8.4     Reaffirmed
Issuer Not Cooperating
VNR Homes Pvt Ltd                       Proposed LT Bk     CRISIL B-      80      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
VNR Homes Pvt Ltd                       Proposed WC Fac    CRISIL B-      61.6    Reaffirmed
Issuer Not Cooperating

--------------------------------------------------------------------------------------------
$: 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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