July 5, 2017 / 4:55 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Jul 5

   Jul 5 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of July 4, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ambertex Sekhsaria Exports              Packing Credit     CRISIL A4      55      Reaffirmed
Baazar Retail Ltd                       BG                 CRISIL A2+     2.5     Reaffirmed
CICON Engineers Pvt Ltd                 BG                 CRISIL A3+     750     Reaffirmed
Damodar Timber Depot                    LOC                CRISIL A4      100     Upgraded from
                                                                                  CRISIL D
Devrishi Foods Pvt Ltd                  Packing Credit     CRISIL A4      34      Assigned
Devrishi Foods Pvt Ltd                  Foreign            CRISIL A4      14      Assigned
                                        Discounting Bill
                                        Purchase
Ernad Engineering Enterprises           BG                 CRISIL A4+     300     Upgraded from
                                                                                  CRISIL A4
Heather Constructions                   BG                 CRISIL A4+     170     Assigned
KCP Engineers Pvt Ltd                   BG                 CRISIL A4+     30      Assigned
KCP Engineers Pvt Ltd                   Overdraft          CRISIL A4+     60      Assigned
Keyem Engineering Enterprises           BG                 CRISIL A4+     220     Assigned
Keyem Engineering Enterprises           Bill Discounting   CRISIL A4+     50      Assigned
                                        under LOC
Koso India Pvt Ltd                      BG                 CRISIL A2+     350     Reaffirmed
Koso India Pvt Ltd                      LOC                CRISIL A2+     100     Reaffirmed
Namdhari Seeds Pvt Ltd                  Packing Credit in  CRISIL A2+     430     Reaffirmed
                                        Foreign Currency
Peregrine Guarding Pvt Ltd              BG                 CRISIL A2      250     Upgraded from
                                                                                  CRISIL A3+
Pidilite Industries Ltd                 Non-FBL@@          CRISIL A1+     370     Reaffirmed
@@ interchangeable with pre-shipment credit (PC), post-shipment credit (PSC), 
standby letter of credit (SBLC),bill discounting, overdraft (OD), 
letter of credit, bank Guarantees (BG's) , buyers credit
and Foreign exchange hedge limits
Pidilite Industries Ltd                 Non-FBL@           CRISIL A1+     500     Reaffirmed
@Fully interchangeable with letter of credit/bank guarantee
R.A.K. Ceramics India Pvt Ltd           LOC & BG           CRISIL A2+     605     Reaffirmed
Roto Power Projects Pvt Ltd             BG                 CRISIL A2      10      Upgraded from
                                                                                  CRISIL A3+
Varahi Ltd                              BG                 CRISIL A3+     40      Reaffirmed
Varahi Ltd                              LOC & BG           CRISIL A3+     106.6   Assigned
Ambertex Sekhsaria Exports              Foreign Bill       CRISIL B+      63.5    Reaffirmed
                                        Discounting

LONG TERM RATINGS:
-------------------
Ambertex Sekhsaria Exports              LT Loan            CRISIL B+      10      Reaffirmed
Baazar Retail Ltd                       CC                 CRISIL A-      400.5   Reaffirmed
Brightstar Healthcare Pvt Ltd           TL                 CRISIL B       300     Assigned
Cape Flour Mills Pvt Ltd                CC                 CRISIL BB-     230     Assigned
Cape Flour Mills Pvt Ltd                LT Loan            CRISIL BB-     18.5    Assigned
CICON Engineers Pvt Ltd                 CC                 CRISIL BBB     100     Reaffirmed
CICON Engineers Pvt Ltd                 Proposed LT Bk     CRISIL BBB     90      Reaffirmed
                                        Loan Fac
Cube India Paper Mills Pvt Ltd          TL                 CRISIL B+      130.9   Assigned
Cube India Paper Mills Pvt Ltd          CC                 CRISIL B+      65      Assigned
Cube India Paper Mills Pvt Ltd          Proposed LT Bk     CRISIL B+      4.1     Assigned
                                        Loan Fac
Damodar Timber Depot                    Overdraft          CRISIL B       80      Upgraded from
                                                                                  CRISIL D
Damodar Timber Depot                    TL                 CRISIL B       6.5     Upgraded from
                                                                                  CRISIL D
Devrishi Foods Pvt Ltd                  CC                 CRISIL B+      30      Assigned
Ernad Engineering Enterprises           CC                 CRISIL BB-     200     Upgraded from
                                                                                  CRISIL B+
Exceed Crop Science Pvt Ltd             CC                 CRISIL B+      20.8    Upgraded from
                                                                                  CRISIL B
Exceed Crop Science Pvt Ltd             LT Loan            CRISIL B+      49.2    Upgraded from
                                                                                  CRISIL B
Heather Constructions                   LT Loan            CRISIL BB-     24      Assigned
Heather Constructions                   CC                 CRISIL BB-     260     Assigned
Heather Constructions                   Auto loans         CRISIL BB-     16      Assigned
Jay Trading Corporation                 CC                 CRISIL BB-     50      Reaffirmed
Jay Trading Corporation                 Proposed LT Bk     CRISIL BB-     50      Reaffirmed
                                        Loan Fac
KCP Engineers Pvt Ltd                   Proposed LT Bk     CRISIL BB+     110     Assigned
                                        Loan Fac
Keyem Engineering Enterprises           CC                 CRISIL BB+     125     Assigned
King Fish Exports                       Packing Credit     CRISIL BB-     90      Assigned
King Fish Exports                       Proposed LT Bk     CRISIL BB-     10      Assigned
                                        Loan Fac
Koso India Pvt Ltd                      Buyer`s Credit     CRISIL A-      60      Reaffirmed
Koso India Pvt Ltd                      CC                 CRISIL A-      180     Reaffirmed
Lanco Infratech Ltd                     CC                 CRISIL D       16003   Reaffirmed
Lanco Infratech Ltd                     LOC & BG           CRISIL D       52400   Reaffirmed
Lanco Infratech Ltd                     TL                 CRISIL D       21837   Reaffirmed
Marigot Agro Pvt Ltd                    Proposed LT Bk     CRISIL B       15      Assigned
                                        Loan Fac
Marigot Agro Pvt Ltd                    CC                 CRISIL B       9       Assigned
Marigot Agro Pvt Ltd                    LT Loan            CRISIL B       46      Assigned
Namdhari Agro Fresh Pvt Ltd             CC                 CRISIL BBB     53.2    Reaffirmed
Namdhari Agro Fresh Pvt Ltd             Proposed CC Limit  CRISIL BBB     26.8    Reaffirmed
Namdhari Seeds Pvt Ltd                  CC                 CRISIL A-      370     Reaffirmed
Namdhari Seeds Pvt Ltd                  Proposed FB Bk     CRISIL A-      20      Reaffirmed
                                        Limits
Namdhari Seeds Pvt Ltd                  TL                 CRISIL A-      400     Assigned
Peregrine Guarding Pvt Ltd              CC                 CRISIL BBB+    900     Upgraded from
                                                                                  CRISIL BBB
Peregrine Guarding Pvt Ltd              Proposed FB Bk     CRISIL BBB+    50      Upgraded from
                                        Limits                                    CRISIL BBB
Pidilite Industries Ltd                 FB Fac#            CRISIL AAA     250     Reaffirmed
#Fully interchangeable with working capital demand loan/letter of 
credit/bank guarantee /stand-by line of credit facilities
Pidilite Industries Ltd                 FB Fac##           CRISIL AAA     1050    Reaffirmed
## Rs 105 crore interchangeable with working capital demand loan/letter 
of credit/bank guarantee /stand-by line of credit facilities
Pidilite Industries Ltd                 FB Fac^            CRISIL AAA     500     Reaffirmed
^ Interchangeable with working capital demand loan/letter of credit/bank
 guarantee /stand-by line of credit facilities
Pidilite Industries Ltd                 FB Fac             CRISIL AAA     1000    Reaffirmed
R.A.K. Ceramics India Pvt Ltd           Buyer`s Credit     CRISIL A-      180     Reaffirmed
R.A.K. Ceramics India Pvt Ltd           CC@                CRISIL A-      2119    Reaffirmed
@Interchangeable with packing credit/buyer's credit/export bill 
discounting and working capital demand loan.
R.A.K. Ceramics India Pvt Ltd           LT Loan            CRISIL A-      125     Reaffirmed
R.A.K. Ceramics India Pvt Ltd           Rupee TL           CRISIL A-      84      Reaffirmed
Roto Power Projects Pvt Ltd             CC                 CRISIL BBB+    80      Upgraded from
                                                                                  CRISIL BBB
Roto Power Projects Pvt Ltd             Proposed FB Bk     CRISIL BBB+    10      Upgraded from
                                        Limits                                    CRISIL BBB
Shree Vijayashree Food Processing       CC                 CRISIL B+      60      Reaffirmed
Industries
Shree Vijayashree Food Processing       Proposed LT Bk     CRISIL B+      10      Reaffirmed
Industries                              Loan Fac
Shree Vishnu Power & Energy Pvt Ltd.    CC                 CRISIL BB      65      Upgraded from
                                                                                  CRISIL BB-
Shree Vishnu Power & Energy Pvt Ltd.    TL                 CRISIL BB      400     Upgraded from
                                                                                  CRISIL BB-
Sidds Jewels India LLP                  CC                 CRISIL BBB     612.5   Upgraded from
                                                                                  CRISIL BBB-
Sidds Jewels India LLP                  TL                 CRISIL BBB     67.5    Assigned
Sidds Jewels India LLP                  Proposed LT Bk     CRISIL BBB     100     Assigned
                                        Loan Fac
Sidds Jewels Pvt Ltd                    Post Shipment      CRISIL BBB     2737.4  Reaffirmed
                                        Credit
Sidds Jewels Pvt Ltd                    Proposed FB Bk     CRISIL BBB     250     Reaffirmed
                                        Limits
Sidds Jewels Pvt Ltd                    Standby FB Limits  CRISIL BBB     382.6   Assigned
Varahi Ltd                              CC                 CRISIL BBB     50      Continues on
                                                                                  Rating Watch
                                                                                  with 
                                                                                  Developing
                                                                                  Implications
Varahi Ltd                              Proposed WC Fac    CRISIL BBB     3.4     Assigned
Varahi Ltd                              BG                                155     Withdrawal
Varahi Ltd                              CC                                463.4   Withdrawal
Varahi Ltd                              LOC                               220     Withdrawal
Varahi Ltd                              Proposed LT Bk                    28.6    Withdrawal
                                        Loan Fac
Varahi Ltd                              TL                                713     Withdrawal
--------------------------------------------------------------------------------------------
$: 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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