June 29, 2017 / 5:30 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Jun 29

    Jun 29 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 28, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Amazon Wood Pvt Ltd                     LOC                CRISIL A3      350     Assigned
Dhruv Globals Ltd                       BG*                CRISIL A4      30      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
*Issuer did not cooperate; based on best-available information
Dhruv Globals Ltd                       Foreign Exchange   CRISIL A4      147.5   Downgraded
                                        Forward                                   from CRISIL
                                                                                  A4+
Dhruv Globals Ltd                       LOC*               CRISIL A4      20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
*Issuer did not cooperate; based on best-available information
Edelweiss Commodities Services Ltd      ST Bk Fac          CRISIL A1+     600     Reaffirmed
Edelweiss Commodities Services Ltd      Standby LOC        CRISIL A1+     1520    Reaffirmed
Edelweiss Financial Services Ltd        ST Debt Issue *    CRISIL A1+     45000   Assigned
*Assigned for initial public offering/ open offer financing on episodic basis
Edelweiss Financial Services Ltd        ST Debt Issue *    CRISIL A1+     50000   Reaffirmed
*Assigned for initial public offering/ open offer financing on episodic basis
Edelweiss Financial Services Ltd        ST Debt Issue *    CRISIL A1+     40000   Reaffirmed
*Assigned for initial public offering/ open offer financing on episodic basis
Edelweiss Financial Services Ltd        ST Debt Issue *    CRISIL A1+     40000   Reaffirmed
*Assigned for initial public offering/ open offer financing on episodic basis
Edelweiss Financial Services Ltd        ST Debt            CRISIL A1+     63500   Reaffirmed
Gandharva Infrastructure And Projects   BG                 CRISIL A4+     60      Reaffirmed
Ltd
India Japan Lighting Pvt Ltd.           BG                 CRISIL A3+     850     Reaffirmed
India Japan Lighting Pvt Ltd.           Bill Discounting   CRISIL A3+     50      Reaffirmed
India Japan Lighting Pvt Ltd.           ST Loan            CRISIL A3+     1395    Reaffirmed
Indian Toners and Developers Ltd        BG                 CRISIL A2+     4       Reaffirmed
Indian Toners and Developers Ltd        LOC                CRISIL A2+     70      Reaffirmed
INFINA Finance Pvt Ltd                  CP Issue*          CRISIL A1+     80000   Assigned
*Assigned for initial/ follow-on public offer financing on episodic basis
INFINA Finance Pvt Ltd                  CP Issue*          CRISIL A1+     75000   Withdrawal
*Assigned for initial/ follow-on public offer financing on episodic basis
INFINA Finance Pvt Ltd                  CP Issue*          CRISIL A1+     80000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis
INFINA Finance Pvt Ltd                  ST Debt            CRISIL A1+     4500    Reaffirmed
ITDL Imagetec Ltd                       BG                 CRISIL A2+     7.5     Reaffirmed
ITDL Imagetec Ltd                       LOC                CRISIL A2+     75      Reaffirmed
Kotak Mahindra Prime Ltd                Proposed ST Bk     CRISIL A1+     29850   Reaffirmed
                                        Loan Fac
Kotak Mahindra Prime Ltd                ST Loan            CRISIL A1+     150     Reaffirmed
Krishna Corporation                     BG                 CRISIL A3      195     Reaffirmed
Lemorex Granito LLP                     BG                 CRISIL A4      30      Reassigned
Liva Pharmaceuticals Ltd                BG                 CRISIL A1+(SO) 400     Reaffirmed
Malabar Hotel Management and Catering   BG                 CRISIL A4+     6       Reassigned
Promotion Trust
Masibus Automation and Instrumentation  BG *               CRISIL A3      70      Upgraded from
Pvt Ltd                                                                           CRISIL A4+
* Interchangable with Buyer's Credit to the extent of Rs.4.0 crore
Netplast Pvt Ltd                        LOC                CRISIL A4+     37.8    Reaffirmed
P.S.R. Granites Pvt Ltd                 Foreign Bill       CRISIL A4      35      Reaffirmed
                                        Negotiation
P.S.R. Granites Pvt Ltd                 Packing Credit     CRISIL A4      62.5    Reaffirmed
R. B. Construction Co                   BG                 CRISIL A4+     160     Reaffirmed
R. S. Chauhan                           BG                 CRISIL A4      40      Assigned
Reliance Fabrications Pvt Ltd           BG                 CRISIL A4      10      Reaffirmed
Reliance Fabrications Pvt Ltd           LOC                CRISIL A4      10      Reaffirmed
S. R. Ashok and Associates Pvt Ltd      BG                 CRISIL A4+     500     Reaffirmed
Sahastraa Exports Pvt Ltd               LOC                CRISIL         115     Downgraded
                                                           A4(Issuer Not          from CRISIL
                                                           Cooperating)           A4+
Samkeet Electronics                     Adhoc Limit        CRISIL A4      10      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
(Issuer Not Cooperating)
Sanzyme Pvt Ltd                         Inland/Import LOC  CRISIL A1      120     Reaffirmed
Scotlane Ceramics                       BG                 CRISIL A4      3.3     Assigned
Sigma Galvanizing Pvt Ltd               BG                 CRISIL A4      5       Reaffirmed
Sigma Galvanizing Pvt Ltd               LOC                CRISIL A4      20      Reaffirmed
Super Geo Drillers (J.V)                BG                 CRISIL A4      280     Reaffirmed
(Issuer Not Cooperating)
Syncotts International                  BG                 CRISIL A4+     35      Reaffirmed
Syncotts International                  LOC                CRISIL A4+     5       Assigned
Terai Overseas Pvt Ltd                  BG                 CRISIL A4+     50      Assigned
Vishwa Glass and Ceramics Pvt Ltd       Inland/Import LOC  CRISIL A4+     25      Reaffirmed
Vishwa Glass and Ceramics Pvt Ltd       LOC                CRISIL A4+     15      Reaffirmed
Yankee Constructions LLP                BG                 CRISIL A4+     135     Reaffirmed
Yogeshwari Petro Chemicals Pvt Ltd      BG                 CRISIL A4      20      Reaffirmed
(Issuer Not Cooperating)
Zydus Healthcare Ltd                    LOC**              CRISIL A1+     100     Reaffirmed
**Fully interchangeable with bank guarantee


LONG TERM RATINGS:
-------------------
Akash Cotex                             CC                 CRISIL B       110     Reaffirmed
Akash Cotex                             Proposed LT Bk     CRISIL B       0.6     Reaffirmed
                                        Loan Fac

Akash Cotex                             TL                 CRISIL B       29.4    Reaffirmed
Amazon Wood Pvt Ltd                     CC                 CRISIL BBB-    150     Assigned
(Issuer Not Cooperating)
Annaporanaa Foods                       CC                 CRISIL B       80      Assigned
Asha Diamond                            Export Packing     CRISIL BB+     400     Upgraded from
                                        Credit                                    CRISIL BB
Dhruv Globals Ltd                       Export Packing     CRISIL B+      465     Downgraded
                                        Credit                                    from CRISIL BB
Dhruv Globals Ltd                       Proposed LT Bk     CRISIL B+      4.1     Downgraded
                                        Loan Fac                                  from CRISIL BB
Dhruv Globals Ltd                       TL                 CRISIL B+      148.4   Downgraded
                                                                                  from CRISIL BB
Dr.D.Y.Patil Pratishthan                Overdraft          CRISIL BBB+    31      Upgraded from
                                                                                  CRISIL BBB
Dr.D.Y.Patil Pratishthan                TL                 CRISIL BBB+    149     Upgraded from
                                                                                  CRISIL BBB
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
Edelweiss Commodities Services Ltd      LT Bk Fac          CRISIL AA      3250    Reaffirmed
Edelweiss Commodities Services Ltd      Overdraft          CRISIL AA      7000    Reaffirmed
Edelweiss Commodities Services Ltd      Proposed LT Bk     CRISIL AA      5000    Reaffirmed
                                        Loan Fac**
**Interchangeable with short term bank facilities
Edelweiss Finance and Investments Ltd   Proposed LT Bk     CRISIL AA      5000    Reaffirmed
                                        Loan Fac^
^Interchangeable between short term and long term
Essel Finance Business Loans Ltd        Proposed LT Bk     CRISIL BBB-    2000    Reaffirmed
                                        Loan Fac
Gandharva Infrastructure And Projects   Overdraft          CRISIL BB-     50      Reaffirmed
Ltd
India Japan Lighting Pvt Ltd.           External           CRISIL BBB     256.4   Reaffirmed
                                        Commercial
                                        Borrowings
India Japan Lighting Pvt Ltd.           LT Loan            CRISIL BBB     900     Reaffirmed
India Japan Lighting Pvt Ltd.           Proposed LT Bk     CRISIL BBB     3.6     Reaffirmed
                                        Loan Fac
Indian Toners and Developers Ltd        CC                 CRISIL BBB+    20      Reaffirmed
ITDL Imagetec Ltd                       CC                 CRISIL BBB+    45      Reaffirmed
Kotak Mahindra Prime Ltd                CC & WC demand loanCRISIL AAA     38500   Reaffirmed
Kotak Mahindra Prime Ltd                LT Loan            CRISIL AAA     2710    Reaffirmed
Kotak Mahindra Prime Ltd                Proposed LT Bk     CRISIL AAA     28790   Reaffirmed
                                        Loan Fac
Krishna Corporation                     CC                 CRISIL BBB-    100     Reaffirmed
Krishna Corporation                     TL                 CRISIL BBB-    5       Reaffirmed
Lemorex Granito LLP                     CC                 CRISIL B+      100     Reaffirmed
Lemorex Granito LLP                     LT Loan            CRISIL B+      268.5   Reaffirmed
Lemorex Granito LLP                     Proposed LT Bk     CRISIL B+      51.5    Reaffirmed
                                        Loan Fac
Liva Pharmaceuticals Ltd                Rupee TL           CRISIL AA+(SO) 600     Reaffirmed
Madhav Ginning                          CC                 CRISIL B-      30      Reaffirmed
Madhav Ginning                          LT Loan            CRISIL B-      30      Reaffirmed
Malabar Hotel Management and Catering   LT Loan            CRISIL BB      54      Reaffirmed
Promotion Trust
Masibus Automation and Instrumentation  Bill Discounting   CRISIL BBB-    10      Upgraded from
Pvt Ltd                                                                           CRISIL BB+
Masibus Automation and Instrumentation  CC                 CRISIL BBB-    60      Upgraded from
Pvt Ltd                                                                           CRISIL BB+
Masibus Automation and Instrumentation  Proposed LT Bk     CRISIL BBB-    93.3    Upgraded from
Pvt Ltd                                 Loan Fac                                  CRISIL BB+
Masibus Automation and Instrumentation  TL                 CRISIL BBB-    11.7    Upgraded from
Pvt Ltd                                                                           CRISIL BB+
Netplast Pvt Ltd                        CC                 CRISIL BB+     32.5    Upgraded from
                                                                                  CRISIL BB
Netplast Pvt Ltd                        TL                 CRISIL BB+     4.3     Upgraded from
                                                                                  CRISIL BB
Orchid Cure and Care Pvt Ltd            Proposed LT Bk     CRISIL B+      48      Reaffirmed
                                        Loan Fac
Orchid Cure and Care Pvt Ltd            TL                 CRISIL B+      57      Assigned
P.S.R. Granites Pvt Ltd                 CC                 CRISIL B+      7.5     Reaffirmed
Pillai and Sons Motor Company           CC                 CRISIL BBB-    30      Upgraded from
                                                                                  CRISIL BB
Pillai and Sons Motor Company           Inventory Funding  CRISIL BBB-    110     Upgraded from
                                        Fac                                       CRISIL BB
Pillai and Sons Motor Company           TL                 CRISIL BBB-    10      Upgraded from
                                                                                  CRISIL BB
Poorva Chemtech Pvt Ltd                 CC                 CRISIL BB+     50      Upgraded from
                                                                                  CRISIL BB
Poorva Chemtech Pvt Ltd                 Proposed LT Bk     CRISIL BB+     25.5    Upgraded from
                                        Loan Fac                                  CRISIL BB
Poorva Chemtech Pvt Ltd                 TL                 CRISIL BB+     9.5     Upgraded from
                                                                                  CRISIL BB
PVS Automotive Company Pvt Ltd          CC                 CRISIL B+      30      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
PVS Automotive Company Pvt Ltd          Inventory Funding  CRISIL B+      81.4    Downgraded
                                        Fac                                       from CRISIL
                                                                                  BB-
R. B. Construction Co                   CC                 CRISIL BB      20      Reaffirmed
R. S. Chauhan                           WC Fac             CRISIL B+      20      Assigned
Raj Dealers and Distributors            CC                 CRISIL BB-     80      Reaffirmed
Reliance Fabrications Pvt Ltd           CC                 CRISIL B+      30      Reaffirmed
Reliance Fabrications Pvt Ltd           Proposed LT Bk     CRISIL B+      26.8    Reaffirmed
                                        Loan Fac
Reliance Fabrications Pvt Ltd           Standby Line of    CRISIL B+      4.5     Reaffirmed
                                        Credit
Rohit Colonisers Pvt Ltd                Rupee TL           CRISIL B       192.9   Assigned
S. R. Ashok and Associates Pvt Ltd      Proposed BG        CRISIL BB+     240     Reaffirmed
S. R. Ashok and Associates Pvt Ltd      Proposed LT Bk     CRISIL BB+     10      Reaffirmed
                                        Loan Fac
Sahastraa Exports Pvt Ltd               CC                 CRISIL B       75      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Samkeet Electronics                     Channel Financing  CRISIL B       40      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
(Issuer Not Cooperating)
Samkeet Electronics                     Drop Line          CRISIL B       10      Downgraded
                                        Overdraft Fac                             from CRISIL
                                                                                  BB-
(Issuer Not Cooperating)
Samkeet Electronics                     Proposed LT Bk     CRISIL B       10      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
(Issuer Not Cooperating)
Sanzyme Pvt Ltd                         CC                 CRISIL A       200     Reaffirmed
Sanzyme Pvt Ltd                         LT Loan            CRISIL A       345.4   Reaffirmed
Sanzyme Pvt Ltd                         Proposed LT Bk     CRISIL A       4.6     Reaffirmed
                                        Loan Fac
SB Lifespaces Pvt Ltd                   CC                 CRISIL B+      120     Reaffirmed
Scotlane Ceramics                       TL                 CRISIL B       49.5    Assigned
Scotlane Ceramics                       CC                 CRISIL B       12.5    Assigned
Senator Motors Pvt Ltd                  BG                 CRISIL D       12.5    Reaffirmed
Senator Motors Pvt Ltd                  CC                 CRISIL D       220     Reaffirmed
Senator Motors Pvt Ltd                  TL                 CRISIL D       92.4    Reaffirmed
Sigma Galvanizing Pvt Ltd               CC                 CRISIL B-      75      Reaffirmed
Sigma Galvanizing Pvt Ltd               LT Loan            CRISIL B-      117.6   Reaffirmed
Super Geo Drillers (J.V)                Overdraft          CRISIL B       100     Reaffirmed
Syncotts International                  CC                 CRISIL BB+     20      Reaffirmed
Tarunikaa Jewels                        CC                 CRISIL B+      85      Upgraded from
                                                                                  CRISIL B
Tarunikaa Jewels                        LT Loan            CRISIL B+      15      Upgraded from
                                                                                  CRISIL B
Terai Overseas Pvt Ltd                  CC                 CRISIL BB-     480     Reaffirmed
The Chennai Shopping Mall-Jewellers     CC                 CRISIL BB+     50      Reaffirmed
Tiger 4 Security and Detective India    Proposed LT Bk     CRISIL BB+     92.4    Assigned
Pvt Ltd                                 Loan Fac
Tiger 4 Security and Detective India    CC                 CRISIL BB+     27.5    Assigned
Pvt Ltd
Tiger 4 Security and Detective India    LT Loan            CRISIL BB+     0.1     Assigned
Pvt Ltd
Uday Autolink Pvt Ltd                   Drop Line          CRISIL C       80      Reaffirmed
                                        Overdraft Fac
(Issuer Not Cooperating)
Uday Autolink Pvt Ltd                   Electronic Dealer  CRISIL C       60      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
(Issuer Not Cooperating)
Uday Autolink Pvt Ltd                   TL                 CRISIL C       248     Reaffirmed
(Issuer Not Cooperating)
Umesh Education Trust                   LT Loan            CRISIL B       120     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
(Issuer Not Cooperating)
United Wines                            CC                 CRISIL BBB     200     Assigned
Video Plaza                             CC                 CRISIL B       40.5    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Video Plaza                             Proposed LT Bk     CRISIL B       29.5    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Video Plaza                             TL                 CRISIL B       30      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Vishwa Glass and Ceramics Pvt Ltd       CC                 CRISIL BB      50      Reaffirmed
Vishwa Glass and Ceramics Pvt Ltd       Proposed LT Bk     CRISIL BB      5       Reaffirmed
                                        Loan Fac
Yankee Constructions LLP                CC                 CRISIL BB-     35      Reaffirmed
Yankee Constructions LLP                Proposed LT Bk     CRISIL BB-     12.5    Assigned
                                        Loan Fac
Yogeshwari Petro Chemicals Pvt Ltd      CC                 CRISIL B       30      Reaffirmed
(Issuer Not Cooperating)
Yogeshwari Petro Chemicals Pvt Ltd      Proposed LT Bk     CRISIL B       20      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Zydus Healthcare Ltd                    CC*                CRISIL AA+     1100    Reaffirmed
*Fully interchangeable with working capital demand loan
Zydus Technologies Ltd                  LT Loan            CRISIL AA+(SO) 2270    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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below