June 12, 2017 / 5:18 AM / a month ago

CRISIL ratings for Indian debt instruments-Jun 12

22 Min Read

    Jun 12 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 09, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ark Industries Pvt Ltd                  LOC                CRISIL A3      250     Reaffirmed
Issuer Not Cooperating
DCM Ltd                                 LOC & BG           CRISIL A3      132.5   @
DCM Ltd                                 Overdraft          CRISIL A3      100     @
Deepak Kumar Agrawal                    Proposed ST Bk     CRISIL A4+     100     Assigned
                                        Loan Fac
Deepak Kumar Agrawal                    BG                 CRISIL A4+     70      Assigned
Delta Iron and Steel Company Pvt Ltd    LOC                CRISIL A3      1822.5  Reaffirmed
Encon Fabricators Pvt Ltd               LOC                CRISIL A4+     10      Assigned
Encon Fabricators Pvt Ltd               BG                 CRISIL A4+     30      Assigned
Freedom Shoes LLP                       Packing Credit     CRISIL A4      50      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Ganga Jamuna Steel Pvt Ltd              LOC                CRISIL A4      20      Reaffirmed
Gerb Vibration Control Systems Pvt Ltd  BG                 CRISIL A4      140     Downgraded
                                                                                  from CRISIL A3
Graffiti Exports                        LOC                CRISIL A4+     20      Reaffirmed
GS Motors Pvt Ltd                       BG                 CRISIL A4      10      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
JFK International Ltd                   Packing Credit     CRISIL A4      199     Assigned
Katti-Ma Exports Pvt Ltd                BG                 CRISIL A4      1       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Katti-Ma Exports Pvt Ltd                Bill Discounting   CRISIL A4      4       Downgraded
                                        under LOC                                 from CRISIL
                                                                                  A4+
Katti-Ma Exports Pvt Ltd                Packing Credit     CRISIL A4      50      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Nuova Shoes                             Bill Discounting   CRISIL A4+     50      Reaffirmed
Nuova Shoes                             LOC & BG           CRISIL A4+     10      Reaffirmed
Nuova Shoes                             Packing Credit     CRISIL A4+     80      Reaffirmed
Nuova Shoes                             Proposed ST Bk     CRISIL A4+     10      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
O P Gupta Contractors Pvt Ltd           BG                 CRISIL A4+     250     Assigned
Issuer Not Cooperating
Om Sakthi Constructions                 BG                 CRISIL A4      25      Reaffirmed
Ozone Overseas Pvt Ltd                  BG                 CRISIL A2+     10      Reaffirmed
* 100% interchangeable with Letter of Credit
Ozone Overseas Pvt Ltd                  LOC***             CRISIL A2+     130     Reaffirmed
***100% interchangeable with Buyer's credit
Paramesu Biotech Pvt Ltd                BG                 CRISIL A4      5       Reaffirmed
** 100% interchangeable with Working capital demand loan/Buyer's credit/Letter of credit
Paramount Pharma                        LOC                CRISIL A4      100     Reaffirmed
Phooltas Transrail Ltd                  BG                 CRISIL A4+     540     Reaffirmed
Issuer Not Cooperating
Phooltas Transrail Ltd                  LOC                CRISIL A4+     20      Reaffirmed
Issuer Not Cooperating
Rabina Enterprises Pvt Ltd              BG                 CRISIL A4      330     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Rajdeep Buildcon Pvt Ltd                BG                 CRISIL A2      3200    Reaffirmed
Rajdeep Buildcon Pvt Ltd                LOC                CRISIL A2      335     Reaffirmed
Rajdeep Buildcon Pvt Ltd                Proposed LOC       CRISIL A2      125     Assigned
S M Rice Land Pvt Ltd                   Packing Credit     CRISIL A4      50      Reaffirmed
Sisco Industries Ltd                    BG                 CRISIL A4      30      Reaffirmed
Speedcrafts Ltd                         BG                 CRISIL A4+     50      @
Speedcrafts Ltd                         LOC                CRISIL A4+     35      @
Sungracia Tiles Pvt Ltd                 BG                 CRISIL A4      31      Reaffirmed
Sungracia Tiles Pvt Ltd                 LOC                CRISIL A4      20      Reaffirmed


LONG TERM RATINGS:
-------------------
Aggarwal Automotive Pvt Ltd             Inventory Funding  CRISIL B+      190     Reaffirmed
                                        Fac
Ark Industries Pvt Ltd                  CC                 CRISIL BBB-    150     Reaffirmed
Aruppukottai Shri Vijayalakshmi Textile CC                 CRISIL BB-     57.5    Reaffirmed
MillsPvt Ltd
Bayer Cropscience Ltd                   FB Fac*            CRISIL AA+     1125.5  Reaffirmed
Issuer Not Cooperating
*Fully interchangeable with cash credit, overdraft, short-term loans, letter of credit, and bank
guarantee
Bayer Cropscience Ltd                   Proposed LT Bk     CRISIL AA+     154.5   Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
C. P. Foods                             Overdraft          CRISIL B+      58.5    Reaffirmed
Issuer Not Cooperating
DCM Ltd                                 Bill Discounting   CRISIL BBB-    750     @
Issuer Not Cooperating
DCM Ltd                                 CC                 CRISIL BBB-    1360    @
Removed from Notice of Withdrawal
DCM Ltd                                 Proposed LT Bk     CRISIL BBB-    255.5   @
                                        Loan Fac
DCM Ltd                                 TL                 CRISIL BBB-    1160.8  @
Deepak Kumar Agrawal                    Proposed CC Limit  CRISIL BB-     30      Assigned

Deepak Kumar Agrawal                    Proposed BG        CRISIL BB-     30      Assigned
Deepak Kumar Agrawal                    CC                 CRISIL BB-     20      Assigned
Issuer Not Cooperating
Delta Iron and Steel Company Pvt Ltd    CC                 CRISIL BBB-    377.5   Reaffirmed
Issuer Not Cooperating
Encon Fabricators Pvt Ltd               CC                 CRISIL BB-     22.5    Assigned
Evita Constructions Pvt Ltd             Proposed LT Bk     CRISIL BBB     6500    Reaffirmed
                                        Loan Fac
Evita Constructions Pvt Ltd             TL                 CRISIL BBB     8500    Reaffirmed
Freedom Shoes LLP                       TL                 CRISIL B       19      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Ganga Jamuna Steel Pvt Ltd              CC                 CRISIL B+      55      Reaffirmed
Ganganagar Automobiles Pvt Ltd          CC                 CRISIL BB-     50      Reaffirmed
Ganganagar Automobiles Pvt Ltd          Inventory Funding  CRISIL BB-     25      Reaffirmed
                                        Fac
Issuer Not Cooperating
Ganganagar Automobiles Pvt Ltd          Proposed LT Bk     CRISIL BB-     5       Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Gerb Vibration Control Systems Pvt Ltd  CC                 CRISIL B       20      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Issuer Not Cooperating
Graffiti Exports                        CC                 CRISIL BB-     42.5    Reaffirmed
Issuer Not Cooperating
Graffiti Exports                        Export Packing     CRISIL BB-     25      Reaffirmed
                                        Credit
Issuer Not Cooperating
Graffiti Exports                        Foreign Bill       CRISIL BB-     45      Reaffirmed
                                        Discounting
Graffiti Exports                        Proposed LT Bk     CRISIL BB-     0.5     Reaffirmed
                                        Loan Fac
Graffiti Exports                        WC Demand Loan     CRISIL BB-     15      Reaffirmed
GS Motors Pvt Ltd                       CC                 CRISIL B       5       Downgraded
                                                                                  from CRISIL
                                                                                  BB-
GS Motors Pvt Ltd                       Inventory Funding  CRISIL B       45      Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB-
HCY Industrial Parks Pvt Ltd            Lease Rental       CRISIL A-      757.5   #
                                        Discounting Loan*
* IndoSpace FWS Industrial Park Pvt Ltd, HCY Warehousing Pvt Ltd, and HCY Industrial Parks Pvt
Ltd jointly and severally hold the total lease renting discounting (LRD) loan of Rs 78.75 crore.
HCY Warehousing Pvt Ltd                 Lease Rental       CRISIL A-      787.5   @
                                        Discounting Loan*
* IndoSpace FWS Industrial Park Pvt Ltd, HCY Warehousing Pvt Ltd, and HCY Industrial Parks Pvt
Ltd jointly and severally hold the total lease renting discounting (LRD) loan of Rs 78.75 crore.
IndoSpace FWS Industrial Park Pvt Ltd   Lease Rental       CRISIL A-      787.5   #
                                        Discounting Loan*
*IndoSpace FWS Industrial Park Pvt Ltd, HCY Warehousing Pvt Ltd, and HCY Industrial Parks Pvt
Ltd jointly and severally hold the total lease renting discounting (LRD) loan of Rs 78.75 crore.
JFK International Ltd                   Proposed LT Bk     CRISIL B+      1       Assigned
                                        Loan Fac
Katti-Ma Exports Pvt Ltd                Bill Discounting   CRISIL B       30      Downgraded
                                                                                  from CRISIL BB
Katti-Ma Exports Pvt Ltd                Standby Line of    CRISIL B       15      Downgraded
                                        Credit                                    from CRISIL BB
MKJ Tradex Ltd                          CC                 CRISIL BB+     750     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Narveda Motors Pvt Ltd                  CC                 CRISIL B       20      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Narveda Motors Pvt Ltd                  Inventory Funding  CRISIL B       47.5    Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB-
O P Gupta Contractors Pvt Ltd           Secured Overdraft  CRISIL BB+     100     Assigned
                                        Fac
Om Sakthi Constructions                 Overdraft          CRISIL B+      95      Reaffirmed
Ozone Overseas Pvt Ltd                  CC*                CRISIL A-      100     Reaffirmed
* 100% interchangeable with Letter of Credit
Issuer Not Cooperating
Ozone Overseas Pvt Ltd                  CC**               CRISIL A-      250     Reaffirmed
Issuer Not Cooperating
** 100% interchangeable with Working capital demand loan/Buyer's credit/Letter of credit
Ozone Overseas Pvt Ltd                  CC                 CRISIL A-      90      Reaffirmed
Paramesu Biotech Pvt Ltd                LT Loan            CRISIL B-      364     Reaffirmed
Paramesu Biotech Pvt Ltd                Open CC            CRISIL B-      170     Reaffirmed
Paramesu Biotech Pvt Ltd                Proposed CC Limit  CRISIL B-      75      Reaffirmed
Paramount Pharma                        CC                 CRISIL B       100     Downgraded
                                                                                  from CRISIL B+
Persipina Developers Pvt Ltd            TL                 CRISIL BBB     16500   Reaffirmed
Phooltas Transrail Ltd                  CC                 CRISIL BB+     40      Reaffirmed
Phooltas Transrail Ltd                  Proposed LT Bk     CRISIL BB+     1       Reaffirmed
                                        Loan Fac
Phooltas Transrail Ltd                  Standby Line of    CRISIL BB+     5       Reaffirmed
                                        Credit
R. Priya                                Proposed LT Bk     CRISIL B       3.7     Assigned
                                        Loan Fac
Issuer Not Cooperating
R. Priya                                TL                 CRISIL B       16.3    Assigned
Issuer Not Cooperating
Rabina Enterprises Pvt Ltd              CC                 CRISIL B       115     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Rajdeep Buildcon Pvt Ltd                CC                 CRISIL BBB+    760     Reaffirmed
Issuer Not Cooperating
S M Rice Land Pvt Ltd                   CC                 CRISIL B       50      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
S. S. Oil Refinery                      CC                 CRISIL B       64      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Sanjay Cotton (Gondal)                  CC                 CRISIL B       50      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Sanjay Cotton (Gondal)                  Proposed LT Bk     CRISIL B       10.5    Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Sanjay Cotton (Gondal)                  Proposed WC Fac    CRISIL B       20      Downgraded
                                                                                  from CRISIL B+
Shree Uma Ginning and Oil Industries    CC                 CRISIL B       40      Downgraded
                                                                                  from CRISIL B+
Shree Uma Ginning and Oil Industries    LT Loan            CRISIL B       16.5    Downgraded
                                                                                  from CRISIL B+
Shriji Ginning and Pressing Factory     CC                 CRISIL BB-     180     Reaffirmed
Sisco Industries Ltd                    CC                 CRISIL B+      95      Reaffirmed
Speedcrafts Ltd                         CC                 CRISIL BB+     240     @
Speedcrafts Ltd                         Proposed LT Bk     CRISIL BB+     192.2   @
                                        Loan Fac
Speedcrafts Ltd                         Standby Line of    CRISIL BB+     20      @
                                        Credit
Speedcrafts Ltd                         TL                 CRISIL BB+     89      @
Sri Saraswathi Education Society        LT Loan            CRISIL B+      30      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Sri Saraswathi Education Society        Proposed LT Bk     CRISIL B+      36      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Sungracia Tiles Pvt Ltd                 CC                 CRISIL B       150     Downgraded
                                                                                  from CRISIL B+
Sungracia Tiles Pvt Ltd                 Corporate Loan     CRISIL B       60      Downgraded
                                                                                  from CRISIL B+
Sungracia Tiles Pvt Ltd                 Proposed LT Bk     CRISIL B       2.4     Downgraded
                                        Loan Fac                                  from CRISIL B+
Sungracia Tiles Pvt Ltd                 TL                 CRISIL B       67.9    Downgraded
                                                                                  from CRISIL B+
Suyog Logistics Park Pvt Ltd            Lease Rental       CRISIL BBB+(SO)280     Reaffirmed
                                        Discounting Loan
Tegan Texofab Pvt Ltd                   CC                 CRISIL BB      120     Upgraded from
                                                                                  CRISIL BB-
Tegan Texofab Pvt Ltd                   Proposed LT Bk     CRISIL BB      64.7    Upgraded from
                                        Loan Fac                                  CRISIL BB-
Tegan Texofab Pvt Ltd                   TL                 CRISIL BB      115.3   Upgraded from
                                                                                  CRISIL BB-
Vijaya Sarada Delint Seed Mills         CC                 CRISIL B       65      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Vijaya Sarada Delint Seed Mills         LT Loan            CRISIL B       20      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Vijaya Sarada Delint Seed Mills         Proposed LT Bk     CRISIL B       15      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-

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