July 4, 2017 / 5:04 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Jul 4

    Jul 4 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of July 3, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
B.S. Sponge Pvt Ltd                     LOC & BG           CRISIL A4      5       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Gajanan Oil Pvt Ltd                     LOC                CRISIL A3+     650     Upgraded from
                                                                                  CRISIL A3
Nirma Ltd                               LOC & BG           CRISIL A1+     4000    Reaffirmed
Quest Infosys Foundation                Overdraft          CRISIL A4      70      Assigned
Revathi Equipment Ltd                   LOC & BG           CRISIL A2      375     Reaffirmed
Somnath Cold Storage Pvt Ltd            BG                 CRISIL A4      4.4     Reaffirmed
Vertellus Specialty Materials India Pvt BG                 CRISIL A4+     5       Reaffirmed
Ltd
Vertellus Specialty Materials India Pvt LOC                CRISIL A4+     3.5     Reaffirmed
Ltd
Vital Health Care Pvt Ltd               LOC#               CRISIL A2      472.5   Upgraded from
                                                                                  CRISIL A3+
#Fully interchangeable with Buyers Credit Limit


LONG TERM RATINGS:
-------------------
B.S. Sponge Pvt Ltd                     CC                 CRISIL B       220     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
B.S. Sponge Pvt Ltd                     Proposed LT Bk     CRISIL B       29.2    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Chinsurah Cold Storage - Prop Bansidhar CC                 CRISIL B+      40      Reaffirmed
Agarwalla & Company Pvt Ltd
Chinsurah Cold Storage - Prop Bansidhar Proposed LT Bk     CRISIL B+      4.5     Reaffirmed
Agarwalla & Company Pvt Ltd             Loan Fac
Chinsurah Cold Storage - Prop Bansidhar TL                 CRISIL B+      9.5     Reaffirmed
Agarwalla & Company Pvt Ltd
Chinsurah Cold Storage - Prop Bansidhar WC Loan            CRISIL B+      9.6     Reaffirmed
Agarwalla & Company Pvt Ltd
Gajanan Oil Pvt Ltd                     CC                 CRISIL BBB     1250    Upgraded from
                                                                                  CRISIL BBB-
Gajanan Oil Pvt Ltd                     TL                 CRISIL BBB     600     Upgraded from
                                                                                  CRISIL BBB-
Golden Alliance Hospitalities Pvt Ltd   CC                 CRISIL B       10      Assigned
Golden Alliance Hospitalities Pvt Ltd   LT Loan            CRISIL B       80      Assigned
Himghar Udyog Pvt Ltd                   CC                 CRISIL B+      60      Reaffirmed
Himghar Udyog Pvt Ltd                   TL                 CRISIL B+      48      Reaffirmed
Himghar Udyog Pvt Ltd                   WC Loan            CRISIL B+      8.9     Reaffirmed
Himghar Udyog Pvt Ltd                   WC TL              CRISIL B+      0.9     Reaffirmed
Lotus Chocolate Co. Ltd                 CC                 CRISIL B       250     Reaffirmed
Nirma Ltd                               CC*^$              CRISIL AA      12000   Reaffirmed
* Interchangeable with letter of credit and bank guarantee to the extent of Rs 395 crore.
^ Interchangeable with inland/import letter of credit to the extent of Rs 25 crore.
$ Interchangeable with bank guarantee to the extent of Rs 40 crore.
Nirma Ltd                               Proposed LT Bk     CRISIL AA      3000    Reaffirmed
                                        Loan Fac
Nirma Ltd                               TL                 CRISIL AA      25000   Reaffirmed
Quest Infosys Foundation                TL                 CRISIL B+      50      Assigned
Revathi Equipment Ltd                   CC                 CRISIL BBB+    580     Reaffirmed
Revathi Equipment Ltd                   Proposed FB Bk     CRISIL BBB+    150.8   Reaffirmed
                                        Limits
Shree Hazarilal Cold Storage Pvt Ltd    CC                 CRISIL B+      47.1    Reaffirmed
Shree Hazarilal Cold Storage Pvt Ltd    TL                 CRISIL B+      2.6     Reaffirmed
Shree Hazarilal Cold Storage Pvt Ltd    WC Loan            CRISIL B+      9       Reaffirmed
Somnath Cold Storage Pvt Ltd            CC                 CRISIL B+      85      Reaffirmed
Somnath Cold Storage Pvt Ltd            LT Loan            CRISIL B+      20      Reaffirmed
Somnath Cold Storage Pvt Ltd            Proposed LT Bk     CRISIL B+      1.3     Reaffirmed
                                        Loan Fac
Somnath Cold Storage Pvt Ltd            WC Loan            CRISIL B+      17.9    Reaffirmed
Vertellus Specialty Materials India Pvt CC & WC demand loanCRISIL BB+     80      Reaffirmed
Ltd
Vertellus Specialty Materials India Pvt Proposed TL        CRISIL BB+     70      Reaffirmed
Ltd
Vital Health Care Pvt Ltd               CC*                CRISIL BBB+    325     Upgraded from
                                                                                  CRISIL BBB
*Fully interchangeable with Export Packing Credit limit
Vital Health Care Pvt Ltd               TL                 CRISIL BBB+    22.5    Upgraded from
                                                                                  CRISIL BBB
--------------------------------------------------------------------------------------------
$: 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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