June 22, 2017 / 4:37 AM / a month ago

CRISIL ratings for Indian debt instruments-Jun 22

14 Min Read

    Jun 22 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 21, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
BSBK Pvt Ltd                            BG                 CRISIL A3+     1136.4  Reaffirmed
BSBK Pvt Ltd                            LOC                CRISIL A3+     20      Reaffirmed
Calcutta Export Company                 Foreign Bill       CRISIL A3      110     Upgraded from
                                        Purchase                                  CRISIL A4+
Calcutta Export Company                 Foreign LOC        CRISIL A3      9       Upgraded from
                                                                                  CRISIL A4+
Calcutta Export Company                 Packing Credit     CRISIL A3      56      Upgraded from
                                                                                  CRISIL A4+
Cybercity Builders and Developers Pvt   BG                 CRISIL A4      18      Downgraded
Ltd                                                                               from CRISIL A4
Issuer Not Cooperating
Elixir Metform Pvt Ltd                  BG                 CRISIL A4+     20      Assigned
Freeze Exim                             Packing Credit     CRISIL A4      60      Reaffirmed
Jai Hind Auto Tech Industries           BG                 CRISIL A4      10      Assigned
Kalpaka Chemicals Pvt Ltd               BG                 CRISIL A4+     10      Reaffirmed
Kalpaka Chemicals Pvt Ltd               Export Packing     CRISIL A4+     250     Assigned
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
N I Engineering Technologies Pvt Ltd    BG                 CRISIL A4      40      Assigned
N. C. Nahar                             BG                 CRISIL A3+     650     Upgraded from
                                                                                  CRISIL A3
P P Raju & Co                           BG                 CRISIL A4+     79.5    Assigned
Passavant Energy & Environment India    LOC                CRISIL A4+     305     Assigned
Pvt Ltd
Passavant Energy & Environment India    BG*                CRISIL A4+     770.2   Assigned
Pvt Ltd
* Includes a sub-limit of Rs 15 crore for LC and Rs 10 crore for Bank Overdraft    
PVM Technologies Pvt Ltd                BG                 CRISIL A4      40      Assigned
Raipur Polymers Pvt Ltd                 BG                 CRISIL A4+     5       Reaffirmed
Southern Tropical Foods Pvt Ltd         BG                 CRISIL A4+     7.5     Reassigned
Southern Tropical Foods Pvt Ltd         Foreign Exchange   CRISIL A4+     2.5     Reassigned
                                        Forward
Southern Tropical Foods Pvt Ltd         Packing Credit     CRISIL A4+     293     Reassigned
STCI Primary Dealer Ltd                 ST Debt Programme  CRISIL A1+     2000    Reaffirmed
Sumip Composites Pvt Ltd                BG                 CRISIL A4+     50      Reaffirmed
Sunmax Constructions                    BG                 CRISIL A4+     5       Downgraded
                                                                                  from CRISIL A3
Surya Industries                        BG                 CRISIL D       0.2     Downgraded
                                                                                  from CRISIL A4
Varsha Construction                     BG                 CRISIL A4+     38.4    Assigned

LONG TERM RATINGS:
-------------------
Aristocraft Papers Pvt Ltd              CC                 CRISIL D       35      Downgraded
                                                                                  from CRISIL B+
Aristocraft Papers Pvt Ltd              Proposed LT Bk     CRISIL D       5       Downgraded
                                        Loan Fac                                  from CRISIL B+
Aristocraft Papers Pvt Ltd              TL                 CRISIL D       55      Downgraded
                                                                                  from CRISIL B+
BSBK Pvt Ltd                            CC                 CRISIL BBB     295     Reaffirmed
BSBK Pvt Ltd                            LT Loan            CRISIL BBB     105     Reaffirmed
BSBK Pvt Ltd                            Proposed LT Bk     CRISIL BBB     53.6    Reaffirmed
                                        Loan Fac
BSBK Pvt Ltd                            TL                 CRISIL BBB     55      Reaffirmed
Cybercity Builders and Developers Pvt   LT Loan            CRISIL B       881     Downgraded
Ltd                                                                               from CRISIL BB
Issuer Not Cooperating
Daewon India Auto Parts Pvt Ltd         Foreign Currency   CRISIL B+      50      Reaffirmed
                                        Demand Loan
Daewon India Auto Parts Pvt Ltd         WC Demand Loan     CRISIL B+      150     Reaffirmed
Elixir Metform Pvt Ltd                  Proposed LT Bk     CRISIL BB-     60      Assigned
                                        Loan Fac
Elixir Metform Pvt Ltd                  CC                 CRISIL BB-     60      Assigned
Freeze Exim                             Bill Discounting   CRISIL B+      20      Upgraded from
                                                                                  CRISIL B
I.S.P. Infrastructures Pvt Ltd          TL                 CRISIL BB      500     Upgraded from
                                                                                  CRISIL BB-
ICL Fincorp Ltd                         Proposed CC Limit  CRISIL BB-     100     Upgraded from
                                                                                  CRISIL B+
ICL Fincorp Ltd                         NCD                CRISIL BB-     380     Assigned
ICL Fincorp Ltd                         NCD                CRISIL BB-     90      Upgraded from
                                                                                  CRISIL B+
ICL Fincorp Ltd                         NCD                CRISIL BB-     30      Upgraded from
                                                                                  CRISIL B+
Indian Foodtech Ltd                     CC                 CRISIL D       75      Reaffirmed
Indian Foodtech Ltd                     TL                 CRISIL D       25      Reaffirmed
Jai Hind Auto Tech Industries           TL                 CRISIL B       70.5    Assigned
Jai Hind Auto Tech Industries           CC                 CRISIL B       17.5    Assigned
Kalpaka Chemicals Pvt Ltd               CC                 CRISIL BB+     5       Reaffirmed
Kalpaka Chemicals Pvt Ltd               Proposed WC Fac    CRISIL BB+     2.6     Assigned
Kalpaka Chemicals Pvt Ltd               LT Loan            CRISIL BB+     50      Assigned
N I Engineering Technologies Pvt Ltd    Proposed LT Bk     CRISIL B+      5       Assigned
                                        Loan Fac
N I Engineering Technologies Pvt Ltd    Open CC            CRISIL B+      55      Assigned
N. C. Nahar                             CC                 CRISIL BBB-    70      Reaffirmed
Natraj Motels Pvt Ltd                   TL                 CRISIL D       50      Assigned
Natraj Motels Pvt Ltd                   CC                 CRISIL D       5       Assigned
Natraj Motels Pvt Ltd                   Proposed LT Bk     CRISIL D       5       Assigned
                                        Loan Fac
P P Raju & Co                           Secured Overdraft  CRISIL BB+     40      Assigned
                                        Fac
P P Raju & Co                           Proposed WC Fac    CRISIL BB+     0.5     Assigned
Passavant Energy & Environment India    CC/ Overdraft Fac  CRISIL BB+     212.5   Assigned
Pvt Ltd
PVM Technologies Pvt Ltd                CC                 CRISIL B+      40      Assigned
Raipur Polymers Pvt Ltd                 CC                 CRISIL BB      75      Reaffirmed
Raipur Polymers Pvt Ltd                 TL                 CRISIL BB      22.5    Reaffirmed
Sawariya International Pvt Ltd          CC                 CRISIL B+      70      Upgraded from
                                                                                  CRISIL B
Shree Niwas Cold Storage - Hojai        Proposed LT Bk     CRISIL B       7.5     Assigned
                                        Loan Fac
Shree Niwas Cold Storage - Hojai        CC                 CRISIL B       31.5    Assigned
Shree Niwas Cold Storage - Hojai        LT Loan            CRISIL B       60      Assigned
Shreehari Associates Pvt Ltd            CC                 CRISIL D       280     Reaffirmed
Shreehari Associates Pvt Ltd            Letter Of GuaranteeCRISIL D       200     Reaffirmed
Shreehari Associates Pvt Ltd            LOC                CRISIL D       50      Reaffirmed
Shreehari Associates Pvt Ltd            Proposed LT Bk     CRISIL D       250.5   Reaffirmed
                                        Loan Fac
Shreehari Associates Pvt Ltd            TL                 CRISIL D       259.5   Reaffirmed
Shubh Sandesh Health Care LLP           TL                 CRISIL B+      200     Assigned
Southern Tropical Foods Pvt Ltd         LT Loan            CRISIL BB+     207     Upgraded from
                                                                                  CRISIL BB
Sri Venkateswara Poultries              Proposed LT Bk     CRISIL BB-     16      Assigned
                                        Loan Fac
Sri Venkateswara Poultries              CC                 CRISIL BB-     65      Assigned
Sri Venkateswara Poultries              Cash TL            CRISIL BB-     19      Assigned
Sumip Composites Pvt Ltd                CC                 CRISIL BB+     50      Reaffirmed
Sumip Composites Pvt Ltd                TL                 CRISIL BB+     79      Reaffirmed
Sundaram Exports                        Post Shipment      CRISIL BBB-    420     Upgraded from
                                        Credit*                                   CRISIL BB+
*Includes sublimit of up to Rs.5 crore of export packing credit
Sunmax Constructions                    CC                 CRISIL BB+     125     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Surya Industries                        CC                 CRISIL D       140     Downgraded
                                                                                  from CRISIL B
Surya Industries                        Proposed LT Bk     CRISIL D       65.8    Downgraded
                                        Loan Fac                                  from CRISIL B
Surya Industries                        TL                 CRISIL D       4       Downgraded
                                                                                  from CRISIL B
Udaya Hardwares - Kanyakumari           CC                 CRISIL BB      40      Reaffirmed
Udaya Hardwares - Kanyakumari           TL                 CRISIL BB      10      Reaffirmed
Varsha Construction                     Drop Line          CRISIL BB      50      Assigned
                                        Overdraft Fac
Varsha Construction                     Proposed LT Bk     CRISIL BB      1.6     Assigned
                                        Loan Fac
Xplore-Tech Services Pvt Ltd            Foreign Currency TLCRISIL BBB     435     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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