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CRISIL ratings for Indian debt instruments-Jun 23
June 23, 2017 / 7:04 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Jun 23

    Jun 23 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 22, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ananda Saw Mills                        Foreign LOC        CRISIL A4      100     Reaffirmed
Issuer Not Cooperating
ASR Logistics (India) Pvt Ltd           BG                 CRISIL A4+     20      Assigned
Athena Tradewinds Pvt Ltd               LOC                CRISIL A3      300     Reaffirmed
Bagoosa Food Products Pvt Ltd           BG                 CRISIL A4      4.3     Reaffirmed
Bhagirath Associates                    BG                 CRISIL A4+     79.5    Reaffirmed
Bhavya Constructions Pvt Ltd            BG                 CRISIL A4      20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Bhavya Constructions Pvt Ltd            LOC                CRISIL A4      20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Bhavya Constructions Pvt Ltd            Overdraft          CRISIL A4      15      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Duhee Alloy Steel Processors            BG                 CRISIL A3      5       Reaffirmed
Fab India - New Delhi                   BG                 CRISIL A4+     35      Reaffirmed
Jumax Foam Pvt Ltd                      Foreign Exchange   CRISIL A4+     50      Reaffirmed
                                        Forward
Issuer Not Cooperating
K.S.M. Bashir Mohammad & Sons           BG                 CRISIL A3      434     Reaffirmed
Lumax Auto Technologies Ltd             CP                 CRISIL A1      200     Reaffirmed
Mascot Forge Pvt Ltd                    BG                 CRISIL A3      12.5    Reaffirmed
Mascot Forge Pvt Ltd                    LOC                CRISIL A3      25      Reaffirmed
Multicolor Steels India Pvt Ltd         LOC                CRISIL A4      250     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Omfurn India Pvt Ltd                    BG                 CRISIL A4+     65      Reaffirmed
Pudumjee Paper Products Ltd             LOC & BG           CRISIL A2+     1500    Upgraded from
                                                                                  CRISIL A2
Seafood Innovations                     Packing Credit     CRISIL A4+     25      Upgraded from
                                                                                  CRISIL A4
Shah Foils Ltd                          BG                 CRISIL A3      25      Reaffirmed
Shah Foils Ltd                          LOC                CRISIL A3      250     Reaffirmed
Yankee Constructions LLP                BG                 CRISIL A4+     97.5    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Pudumjee Paper Products Ltd             FD                 FA             500     Upgraded from
                                                                                  FA-
Enhanced from Rs.35 Crore


LONG TERM RATINGS:
-------------------
Abhishek Solvent Extractions Pvt Ltd    CC                 CRISIL B+      80      Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Ananda Saw Mills                        CC                 CRISIL B-      15      Reaffirmed
Issuer Not Cooperating
Ananda Saw Mills                        Proposed LT Bk     CRISIL B-      2.5     Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
ASR Logistics (India) Pvt Ltd           Standby LOC        CRISIL BB-     40      Assigned
ASR Logistics (India) Pvt Ltd           Proposed LT Bk     CRISIL BB-     12      Assigned
                                        Loan Fac
ASR Logistics (India) Pvt Ltd           CC                 CRISIL BB-     28      Assigned
Athena Tradewinds Pvt Ltd               CC                 CRISIL BBB-    50      Reaffirmed
Bagoosa Food Products Pvt Ltd           CC                 CRISIL B-      30      Reaffirmed
Bagoosa Food Products Pvt Ltd           Proposed LT Bk     CRISIL B-      5.7     Reaffirmed
                                        Loan Fac
Bagoosa Food Products Pvt Ltd           TL                 CRISIL B-      110     Reaffirmed
Bhagirath Associates                    CC                 CRISIL BB-     30      Downgraded
                                                                                  from CRISIL BB
Bhagirath Associates                    Proposed LT Bk     CRISIL BB-     40.5    Downgraded
                                        Loan Fac                                  from CRISIL BB
Bhavya Constructions Pvt Ltd            CC                 CRISIL B       80      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Bhavya Constructions Pvt Ltd            TL                 CRISIL B       15      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Bigbloc Construction Ltd                CC                 CRISIL BB      75      Reaffirmed
Bigbloc Construction Ltd                LT Loan            CRISIL BB      175     Reaffirmed
Bodycare Creations Ltd                  CC                 CRISIL BBB-    305     Reaffirmed
Bodycare Creations Ltd                  LT Loan            CRISIL BBB-    195     Reaffirmed
BPL Techno Vision Pvt Ltd               CC                 CRISIL B-      50      Reaffirmed
Issuer Not Cooperating
DK Infrastructure Pvt Ltd               BG                 CRISIL BBB-    470     Upgraded from
                                                                                  CRISIL BB+
DK Infrastructure Pvt Ltd               CC                 CRISIL BBB-    90      Upgraded from
                                                                                  CRISIL BB+
DK Infrastructure Pvt Ltd               Proposed BG        CRISIL BBB-    190     Upgraded from
                                                                                  CRISIL BB+
Duhee Alloy Steel Processors            CC                 CRISIL BBB-    75      Reaffirmed
Duhee Alloy Steel Processors            Proposed LT Bk     CRISIL BBB-    24.3    Reaffirmed
                                        Loan Fac

Duhee Alloy Steel Processors            TL                 CRISIL BBB-    15.7    Reaffirmed
Fab India - New Delhi                   CC                 CRISIL BB-     30      Reaffirmed
Fab India - New Delhi                   Proposed LT Bk     CRISIL BB-     4.9     Reaffirmed
                                        Loan Fac
Fab India - New Delhi                   TL                 CRISIL BB-     11      Reaffirmed
Heena Enterprises                       CC                 CRISIL B       120     Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Heena Enterprises                       Channel Financing  CRISIL B       70      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Jumax Foam Pvt Ltd                      CC                 CRISIL BB      50      Reaffirmed
Issuer Not Cooperating
K.S. Granites                           CC                 CRISIL D       200     Reaffirmed
Issuer Not Cooperating
K.S.M. Bashir Mohammad & Sons           CC                 CRISIL BBB-    150     Assigned
Kogta Financial India Ltd               NCD                CRISIL BB+     150     Reaffirmed
Kogta Financial India Ltd               TL                 Withdrawal     50      Reaffirmed
Konnecting India                        CC                 CRISIL D       120     Downgraded
                                                                                  from CRISIL BB
Lincon Polymers Pvt Ltd                 CC@#               CRISIL BBB     180     Assigned
'@Cash Credit is interchangeable with Buyers Credit to the extent of Rs.18.00 Cr. ; #Cash credit
is interchangeable with Inland Letter of Credit / Foreign letter of credit to the extent of Rs.
18.00 Cr.
Lumax Auto Technologies Ltd             CC                 CRISIL A+      270     Reaffirmed
Lumax Auto Technologies Ltd             Proposed LT Bk     CRISIL A+      200     Reaffirmed
                                        Loan Fac
Lumax Auto Technologies Ltd             TL                 CRISIL A+      250     Reaffirmed
Mascot Forge Pvt Ltd                    CC                 CRISIL BBB-    85      Reaffirmed
Mascot Forge Pvt Ltd                    Proposed TL        CRISIL BBB-    10      Reaffirmed
Mascot Forge Pvt Ltd                    TL                 CRISIL BBB-    21      Reaffirmed
Multicolor Steels India Pvt Ltd         CC                 CRISIL B+      105     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Multicolor Steels India Pvt Ltd         TL                 CRISIL B+      255     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Omfurn India Pvt Ltd                    CC                 CRISIL BB+     50      Reaffirmed
Omfurn India Pvt Ltd                    Proposed LT Bk     CRISIL BB+     5       Reaffirmed
                                        Loan Fac
Omfurn India Pvt Ltd                    Rupee TL           CRISIL BB+     30      Reaffirmed
Ozone Logistics Pvt Ltd                 Electronic Dealer  CRISIL BB+     100     Assigned
                                        Financing
                                        Scheme(e-DFS)
P.S. Educational and Charitable Trust   Proposed LT Bk     CRISIL BB-     25      Upgraded from
                                        Loan Fac                                  CRISIL B+
P.S. Educational and Charitable Trust   Proposed Overdraft CRISIL BB-     20      Upgraded from
                                        Fac                                       CRISIL B+
P.S. Educational and Charitable Trust   TL                 CRISIL BB-     35      Assigned
Paranjape Schemes (Construction) Ltd    NCD                CRISIL BBB+    1750    Assigned
Paranjape Schemes (Construction) Ltd    TL                 CRISIL BBB+    300     Assigned
Paranjape Schemes (Construction) Ltd    CC                 CRISIL BBB+    80      Assigned
Paranjape Schemes (Construction) Ltd    Proposed LT Bk     CRISIL BBB+    70      Assigned
                                        Loan Fac
Pudumjee Paper Products Ltd             CC                 CRISIL A-      500     Upgraded from
                                                                                  CRISIL BBB+
Pudumjee Paper Products Ltd             Proposed LT Bk     CRISIL A-      500     Upgraded from
                                        Loan Fac                                  CRISIL BBB+
Seafood Innovations                     Bill Discounting   CRISIL BB-     50      Upgraded from
                                                                                  CRISIL B+
Seafood Innovations                     TL                 CRISIL BB-     37      Upgraded from
                                                                                  CRISIL B+
Shah Foils Ltd                          CC                 CRISIL BBB-    600     Reaffirmed
Shah Foils Ltd                          Proposed LT Bk     CRISIL BBB-    25.5    Reaffirmed
                                        Loan Fac
Shah Foils Ltd                          TL                 CRISIL BBB-    254.5   Reaffirmed
Shiv Jyoti Furnace Pvt Ltd              CC                 CRISIL D       45      Downgraded
                                                                                  from CRISIL B
Issuer Not Cooperating
Shiv Jyoti Furnace Pvt Ltd              LT Loan            CRISIL D       17.5    Downgraded
                                                                                  from CRISIL B
Issuer Not Cooperating
Shiv Jyoti Furnace Pvt Ltd              Proposed LT Bk     CRISIL D       37.5    Downgraded
                                        Loan Fac                                  from CRISIL B
Issuer Not Cooperating
Shree Ram Rayon                         TL                 CRISIL B-      54.4    Assigned
Shree Ram Rayon                         CC                 CRISIL B-      42.5    Assigned
Shree Ram Rayon                         Proposed LT Bk     CRISIL B-      2.1     Assigned
                                        Loan Fac
Sky Gem                                 Export Packing     CRISIL BB+     70      Reassigned
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Spandana Sphoorty Financial Ltd         Proposed LT Bk     CRISIL BB+     8630.3  Assigned;
                                        Loan Fac                                  Suspension
                                                                                  revoked
Spandana Sphoorty Financial Ltd         TL                 CRISIL BB+     11369.7 Assigned;
                                                                                  Suspension
                                                                                  revoked
SRV Knit Tech Pvt Ltd                   CC                 CRISIL B+      75      Reaffirmed
Yankee Constructions LLP                CC                 CRISIL BB-     35      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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