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CRISIL ratings for Indian debt instruments-Jun 27
June 27, 2017 / 8:08 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Jun 27

    Jun 27 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 23, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Action Construction Equipment Ltd       LOC & BG           CRISIL A1      1350    Reaffirmed
Adit Buildwell Pvt Ltd                  BG                 CRISIL A4+     50      Assigned
Adventec Polymers Pvt Ltd               LOC                CRISIL A2      40      Assigned
Avanse Financial Services Ltd           CP Programme       CRISIL A1+     2000    Reaffirmed
Bharat Serums and Vaccines Ltd          LOC                CRISIL A1      290     Reaffirmed
Cargo Service Center India Pvt Ltd      BG                 CRISIL A3+     110     Upgraded from
                                                                                  CRISIL A3
Dabur India Ltd                         BG^                CRISIL A1+     325     Reaffirmed
^Interchangeable with letter of credit.
Dev Engineers                           BG                 CRISIL A4+     800     Reaffirmed
Endurance Technologies Ltd              LOC & BG@          CRISIL A1+     2450    Reaffirmed
@Interchangeable with bank guarantee.
Endurance Technologies Ltd              Proposed ST Bk     CRISIL A1+     500     Reaffirmed
                                        Loan Fac
K.K.Duplex and Paper Mills Pvt Ltd      BG                 CRISIL A4      2.5     Assigned
Leading Metals Pvt Ltd                  BG                 CRISIL A4+     20      Assigned
Leading Metals Pvt Ltd                  Bill Discounting   CRISIL A4+     30.1    Assigned
M.K.K. Metal Sections Pvt Ltd           LOC                CRISIL A3      650     Upgraded from
                                                                                  CRISIL A4+
Nucon Power Controls Pvt Ltd            BG                 CRISIL A2+     400     Reaffirmed
Nucon Switchgears Pvt Ltd               BG                 CRISIL A2+     1100    Reaffirmed
Nucon Switchgears Pvt Ltd               Foreign Exchange   CRISIL A2+     20      Reaffirmed
                                        Forward
Nucon Switchgears Pvt Ltd               LOC                CRISIL A2+     100     Reaffirmed
Ori-Plast Ltd                           LOC & BG           CRISIL A2      135     Upgraded from
                                                                                  CRISIL A3+
Param Polymers Pvt Ltd                  LOC                CRISIL A2      30      Assigned
Rextron Ceramics Pvt Ltd                BG                 CRISIL A4      12      Assigned
Rishiroop Ltd                           NCD                CRISIL A3+     115.2   Assigned
Shriram Transport Finance Co. Ltd       BG                 CRISIL A1+     15690   Reaffirmed
Shriram Transport Finance Co. Ltd       Proposed BG        CRISIL A1+     10000   Reaffirmed
Shriram Transport Finance Co. Ltd       ST Bk Fac          CRISIL A1+     11160   Reaffirmed
Sikka Engineering Company               Proposed BG        CRISIL A4+     50      Assigned
Sikka Engineering Company               BG                 CRISIL A4+     55      Assigned
STCI Finance Ltd                        ST Debt            CRISIL A1+     20000   Reaffirmed
TDI Infratech Ltd                       BG                 CRISIL A4      200     Reaffirmed
TDI Infratech Ltd                       BG                 CRISIL A4      200     Reaffirmed
V.J. Constructions                      BG                 CRISIL A4+     25      Assigned
Veritaas Granito LLP                    BG                 CRISIL A4      30      Assigned
Vishal Construction                     BG                 CRISIL A4      34.5    Upgraded from
                                                                                  CRISIL D
Vodafone India Ltd                      LOC & BG*          CRISIL A1+     162903.8Reaffirmed
* Interchangeable between Vodafone India Ltd and Vodafone Mobile Services Ltd
Vodafone India Ltd                      Proposed ST Bk     CRISIL A1+     5113.9  Reaffirmed
                                        Loan Fac
Vodafone Mobile Services Ltd            LOC & BG*          CRISIL A1+     30780   Reaffirmed
* Interchangeable between Vodafone India Ltd and Vodafone Mobile Services Ltd to the extent of
Rs.2278 crore
Vodafone Mobile Services Ltd            Proposed ST Bk     CRISIL A1+     6654    Reaffirmed
                                        Loan Fac
Vodafone Mobile Services Ltd            ST Loan            CRISIL A1+     2993.4  Reaffirmed


LONG TERM RATINGS:
-------------------
Action Construction Equipment Ltd       CC$                CRISIL A       950     Reaffirmed
Action Construction Equipment Ltd       LOC & BG*          CRISIL A       400     Reaffirmed
*Interchangeable with cash credit to the extent of Rs 40 crores
Action Construction Equipment Ltd       TL                 CRISIL A       250     Reaffirmed
Adit Buildwell Pvt Ltd                  CC                 CRISIL BB+     30      Assigned
Adventec Polymers Pvt Ltd               CC                 CRISIL BBB+    70      Assigned
Arka Educational and Cultural Trust     Proposed TL        CRISIL BBB     210     Assigned
Arka Educational and Cultural Trust     TL                 CRISIL BBB     900     Assigned
Arka Eduserve Pvt Ltd                   Proposed TL        CRISIL BBB     593.9   Assigned
Arka Eduserve Pvt Ltd                   TL                 CRISIL BBB     280     Assigned
Asco Steel                              CC                 CRISIL BB-     40      Reaffirmed
Bharat Serums and Vaccines Ltd          CC                 CRISIL A+      910     Reaffirmed
Bharat Serums and Vaccines Ltd          Proposed LT Bk     CRISIL A+      428.2   Reaffirmed
                                        Loan Fac
Bharat Serums and Vaccines Ltd          TL                 CRISIL A+      371.8   Reaffirmed
Bharat Serums and Vaccines Ltd          WC Fac             CRISIL A+      400     Reaffirmed
Cargo Service Center India Pvt Ltd      CC                 CRISIL BBB     60      Upgraded from
                                                                                  CRISIL BBB-
Cargo Service Center India Pvt Ltd      Proposed LT Bk     CRISIL BBB     10      Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Charles Mathew                          CC/ Overdraft Fac  CRISIL B+      50      Assigned
Dabur India Ltd                         LT Bk Fac*         CRISIL AAA     1250    Reaffirmed
*Interchangeable with cash credit, cash credit (book debt), drawee bill, packing credit, bill
discounting, and post-shipment credit facilities.
Dev Engineers                           CC                 CRISIL BB+     200     Reaffirmed
Dharamshala Ropeway Ltd                 TL*                CRISIL BBB-    1000    Assigned
*Interchangeable with letter of credit to an extent of Rs 80 crore
ECL Finance Ltd                         CC                 CRISIL AA      20800   Reaffirmed
ECL Finance Ltd                         LT Bk Fac          CRISIL AA      46477.8 Reaffirmed
ECL Finance Ltd                         Proposed LT Bk     CRISIL AA      25022.2 Reaffirmed
                                        Loan Fac**
**interchangeable with short term bank facilities
Endurance Technologies Ltd              Bill Discounting$  CRISIL AA      1600    Upgraded from
                                                                                  CRISIL AA-

$Interchangeable with other fund based and non-fund based facilities upto Rs.50cr
Endurance Technologies Ltd              CC*                CRISIL AA      1100    Upgraded from
                                                                                  CRISIL AA-
*interchangeable with non-fund based limits;
Endurance Technologies Ltd              CC**               CRISIL AA      610     Upgraded from
                                                                                  CRISIL AA-
**interchangeable with non-fund based facility upto Rs.10cr and interchangeable with other fund
based facilities upto Rs.41cr
Endurance Technologies Ltd              CC***              CRISIL AA      1000    Upgraded from
                                                                                  CRISIL AA-
***interchangeable with other fund based and non-fund based facilities;
Endurance Technologies Ltd              CC                 CRISIL AA      1410    Upgraded from
                                                                                  CRISIL AA-
Endurance Technologies Ltd              LT Loan            CRISIL AA      510.3   Upgraded from
                                                                                  CRISIL AA-
Gopalan Foundation                      LT Bk Fac          CRISIL BBB     160     Reaffirmed
HBS City Pvt Ltd                        Proposed LT Bk     CRISIL D       0.5     Downgraded
                                        Loan Fac                                  from CRISIL B
HBS City Pvt Ltd                        TL                 CRISIL D       109.5   Downgraded
                                                                                  from CRISIL B
HDFC Bank Ltd                           Tier I bonds       CRISIL AA+     100000  Reaffirmed
                                        (Under Basel III)
HDFC Bank Ltd                           Tier I Bonds       CRISIL AA+     50000   Reaffirmed
                                        (Under Basel III)
HDFC Bank Ltd                           Tier II Bonds      CRISIL AAA     100000  Assigned
                                        (Under Basel III)
HDFC Bank Ltd                           Infrastructure     CRISIL AAA     50000   Reaffirmed
                                        Bonds
HDFC Bank Ltd                           Infrastructure     CRISIL AAA     100000  Reaffirmed
                                        Bonds
HDFC Bank Ltd                           Perpetual Tier I   CRISIL AAA     12000   Reaffirmed
                                        Bonds
HDFC Bank Ltd                           Upper Tier II      CRISIL AAA     52000   Reaffirmed
                                        Bonds
Hotel Vakratunda - Naddi                TL                 CRISIL B-      62.5    Assigned
Jeya Sathya Agro Food Products Pvt Ltd  CC                 CRISIL B       140     Reaffirmed
Jeya Sathya Agro Food Products Pvt Ltd  TL                 CRISIL B       60      Assigned
K. S. Selections Pvt. Ltd.              CC                 CRISIL B       50      Reaffirmed
K. S. Selections Pvt. Ltd.              Proposed LT Bk     CRISIL B       10      Reaffirmed
                                        Loan Fac
K.K.Duplex and Paper Mills Pvt Ltd      Standby LOC        CRISIL B+      2.5     Assigned
K.K.Duplex and Paper Mills Pvt Ltd      LT Loan            CRISIL B+      75      Assigned
K.K.Duplex and Paper Mills Pvt Ltd      CC                 CRISIL B+      30      Assigned
Leading Metals Pvt Ltd                  CC                 CRISIL BB      49.9    Assigned
M.K.K. Metal Sections Pvt Ltd           CC                 CRISIL BBB-    270     CRISIL BB+
M.K.K. Metal Sections Pvt Ltd           TL                 CRISIL BBB-    50      Assigned
Manjushree Innovations Pvt Ltd          CC                 CRISIL B+      55      Reaffirmed
Manjushree Innovations Pvt Ltd          TL                 CRISIL B+      380     Assigned
Mayar India Ltd                         Proposed TL        CRISIL B-      50      Downgraded
                                                                                  from CRISIL B+
N.Mahalingam and Company                CC                 CRISIL BB+     57.5    Upgraded from
                                                                                  CRISIL BB
N.Mahalingam and Company                Proposed LT Bk     CRISIL BB+     19      Upgraded from
                                        Loan Fac                                  CRISIL BB
Nucon Power Controls Pvt Ltd            CC                 CRISIL A-      50      Reaffirmed
Nucon Power Controls Pvt Ltd            LOC                CRISIL A-      50      Reaffirmed
Nucon Power Controls Pvt Ltd            Proposed LT Bk     CRISIL A-      300     Reaffirmed
                                        Loan Fac
Nucon Switchgears Pvt Ltd               CC                 CRISIL A-      400     Reaffirmed
Nucon Switchgears Pvt Ltd               LOC                CRISIL A-      100     Reaffirmed
OM Threads Ltd                          CC                 CRISIL BB      30      Assigned
OM Threads Ltd                          LT Loan            CRISIL BB      93      Assigned
Ori-Plast Ltd                           CC                 CRISIL BBB+    80      Upgraded from
                                                                                  CRISIL BBB
Ori-Plast Ltd                           Standby Line of    CRISIL BBB+    30      Upgraded from
                                        Credit                                    CRISIL BBB
Ori-Plast Ltd                           TL                 CRISIL BBB+    35.6    Upgraded from
                                                                                  CRISIL BBB
Param Polymers Pvt Ltd                  CC                 CRISIL BBB+    28      Assigned
Rextron Ceramics Pvt Ltd                TL                 CRISIL B+      58      Assigned
Rextron Ceramics Pvt Ltd                CC                 CRISIL B+      27.5    Assigned
Shibu Mathew                            CC/ Overdraft Fac  CRISIL B+      50      Assigned
Shriram Transport Finance Co. Ltd       BG                 CRISIL AA+     3500    Reaffirmed
Shriram Transport Finance Co. Ltd       CC & WC demand loanCRISIL AA+     61900   Reaffirmed
Shriram Transport Finance Co. Ltd       LT Bk Fac@         CRISIL AA+     193680  Reaffirmed
@Long term bank facilities of Rs 1243 crore transferred from Shriram Equipment Finance Company
Limited to Shriram Transport Finance Company Limited upon amalgamation of the former with latter
Shriram Transport Finance Co. Ltd       Proposed LT Bk     CRISIL AA+     66500   Reaffirmed
                                        Loan Fac
Shriramozone Retail Pvt Ltd             Electronic Dealer  CRISIL BB+     100     Assigned
                                        Financing
                                        Scheme(e-DFS)
Sikka Engineering Company               CC/ Overdraft Fac  CRISIL BB      15      Assigned
Soni International Jewelry Mfg.Co       Export Packing     CRISIL BB-     30      Downgraded
                                        Credit                                    from CRISIL BB
Soni International Jewelry Mfg.Co       Post Shipment      CRISIL BB-     30      Downgraded
                                        Credit                                    from CRISIL BB
Soni International Jewelry Mfg.Co       Standby LOC        CRISIL BB-     2.4     Downgraded
                                                                                  from CRISIL BB
Sony Mathew                             CC                 CRISIL B+      100     Assigned
Sudeep Exim Pvt Ltd                     CC                 CRISIL B+      65      Assigned
Sudeep Exim Pvt Ltd                     Channel Financing  CRISIL B+      30      Assigned
TDI Infratech Ltd                       CC                 CRISIL B-      203     Reaffirmed
TDI Infratech Ltd                       TL                 CRISIL B-      1697    Reaffirmed
TDI Infratech Ltd                       CC                 CRISIL B-      203     Reaffirmed
TDI Infratech Ltd                       TL                 CRISIL B-      1697    Reaffirmed
Trinity Buildcon (India) Pvt Ltd        Proposed TL        CRISIL B       68.5    Reaffirmed
Trinity Buildcon (India) Pvt Ltd        TL                 CRISIL B       500     Assigned
V.J. Constructions                      Overdraft          CRISIL BB-     25      Assigned
Veritaas Granito LLP                    LT Loan            CRISIL B+      190     Assigned
Veritaas Granito LLP                    CC                 CRISIL B+      75      Assigned
Vijayalakshmi Traders - Chennai         Proposed CC Limit  CRISIL BB-     60      Assigned
Vijayalakshmi Traders - Chennai         Proposed TL        CRISIL BB-     10      Assigned
Vishal Construction                     CC                 CRISIL B-      30      Upgraded from
                                                                                  CRISIL D
Vishal Construction                     Proposed LT Bk     CRISIL B-      35.5    Upgraded from
                                        Loan Fac                                  CRISIL D
Vodafone India Ltd                      CC & WC demand loanCRISIL AA      15000   Reaffirmed
Vodafone India Ltd                      External           CRISIL AA      1990.4  Reaffirmed
                                        Commercial
                                        Borrowings^
^ Facility of Rs 199.03 crore is INR equivalent of USD 44 million hedged at Rs 45.2350/USD
Vodafone India Ltd                      LOC & BG*          CRISIL AA      54000   Reaffirmed
* Interchangeable between Vodafone India Ltd and Vodafone Mobile Services Ltd
Vodafone India Ltd                      LT Loan            CRISIL AA      1000    Reaffirmed
Vodafone India Ltd                      Proposed LT Bk     CRISIL AA      5780    Reaffirmed
                                        Loan Fac
Vodafone Mobile Services Ltd            External           CRISIL AA      4171.7  Reaffirmed
                                        Commercial
                                        Borrowings^
^ Facility of Rs.417.17 crore is INR equivalent of USD 92 million hedged at Rs.45.2350/USD
Vodafone Mobile Services Ltd            LT Bk Fac          CRISIL AA      4772.5  Reaffirmed
Vodafone Mobile Services Ltd            Rupee TL           CRISIL AA      628.4   Reaffirmed
Wyan Industries Pvt Ltd                 TL                 CRISIL BB-     126.5   Assigned
Wyan Industries Pvt Ltd                 CC                 CRISIL BB-     160     Assigned
Wyan Industries Pvt Ltd                 Proposed TL        CRISIL BB-     13.5    Assigned
--------------------------------------------------------------------------------------------
$: 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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