August 21, 2012 / 8:07 AM / 5 years ago

CRISIL ratings for Indian debt instruments-Aug 21

Aug 21 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of August 17, 2012.

COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Ashok Leyland Ltd                       LOC & BG              CRISIL A1+   7500    Reaffirmed
Ashok Leyland Ltd                       Proposed ST Bk Loan   CRISIL A1+   2500    Reaffirmed
                                        Fac
Asian Oilfield Services Ltd             BG                    CRISIL A4+   300*    Downgraded
                                                                                   from CRISIL
                                                                                   A2
*Amount includes Project Letter of Credit of Rs. 157.0 million.
B.N.Garodia                             BG                    CRISIL A4    64.8    Assigned
Baby Marine Products                    Bill Discounting      CRISIL A4    60      Assigned
Baby Marine Products                    Packing Credit        CRISIL A4    80      Assigned
BCL Industries and Infrastructure Ltd   BG                    CRISIL A4    25      Reaffirmed
BCL Industries and Infrastructure Ltd   LOC                   CRISIL A4    150     Reaffirmed
Chaitanya Tractors and Automobiles      ST Loan               CRISIL A4    7.5     Assigned
Chaitanya Tractors and Automobiles      BG                    CRISIL A4    30      Assigned
G.C. Chemie Pharmie Ltd                 LOC                   CRISIL A2    260*    Reaffirmed
* Interchangeable with buyerÆs credit of Rs.180 Million.
G.C. Chemie Pharmie Ltd                 Overdraft Fac         CRISIL A2    3       Reaffirmed
Geethalaya Exports                      BG                    CRISIL A3    2.5     Reaffirmed
Geethalaya Exports                      Export Packing Credit CRISIL A3    40      Reaffirmed
Geethalaya Exports                      Foreign Bill          CRISIL A3    40      Reaffirmed
                                        Discounting*
* Non Letter of credit
Geethalaya Exports                      Standby Line of CreditCRISIL A3    16      Reaffirmed
Geltec Pvt Ltd                          Import Documentary    CRISIL A1+   52.5*   Reaffirmed
                                        Credit
* Inclusive of sub-limit of Rs.22.5 Million of Buyer's Credit & Inclusive of sub-limit of
Rs.5.00 Million of Bank Guarantee & Fully interchangeable          
GMM Pfaudler Ltd                        CP                    CRISIL A1+   100     Reaffirmed
GMM Pfaudler Ltd                        BG*                   CRISIL A1+   300     Reaffirmed
* Fully interchangeable with each other
GMM Pfaudler Ltd                        LOC*                  CRISIL A1+   200     Reaffirmed
* Fully interchangeable with each other
Himatsingka Seide Ltd                   Vendor Bill           CRISIL A3    200     Reaffirmed
                                        Discounting Limits
Himatsingka Seide Ltd                   LOC                   CRISIL A3    1490    Reaffirmed
Himatsingka Seide Ltd                   BG                    CRISIL A3    55      Reaffirmed
Himatsingka Seide Ltd                   Export Finance Limit* CRISIL A3    800     Reaffirmed
*Interchangeable with bills discounting and export factoring
Himatsingka Seide Ltd                   Proposed ST Bk Loan   CRISIL A3    150     Reaffirmed
                                        Fac
Himatsingka Seide Ltd                   Packing Credit*       CRISIL A3    700     Reaffirmed
*Interchangeable with bills discounting
JRD Industries                          LOC                   CRISIL A4+   500     Reaffirmed
Kanoria Chembond Pvt Ltd                BG                    CRISIL A4    2.5     Assigned
Kanoria Chembond Pvt Ltd                Buyer Credit Limit*   CRISIL A4    20      Assigned
* Rs.10 Million interchangeable from BuyerÆs credit to Cash Credit
KMB Trading Corporation Pvt Ltd         BG                    CRISIL A4    12.9    Reaffirmed
M/s. P. Venkateswara Rao                Proposed LOC & BG     CRISIL A4+   90      Assigned
M/s. P. Venkateswara Rao                LOC & BG              CRISIL A4+   60      Assigned
Manappuram Finance Ltd                  ST Debt               CRISIL A1+   30000   Reaffirmed
MAS Financial Services Ltd              CP*                   CRISIL A1+   500     Reaffirmed
* With standby facility from IDBI Bank Ltd (IDBI Bank)
MPIL Steel Structures Ltd               Bill Discounting      CRISIL A3    40      Reaffirmed
MPIL Steel Structures Ltd               LOC                   CRISIL A3    35      Reaffirmed
MPIL Steel Structures Ltd               LOC & BG*             CRISIL A3    100     Reaffirmed
* interchangeable with Bank Guarantee to the extent of Rs50.0 Million
Munish Kumar Bansal Contractor          BG                    CRISIL A4    25      Reaffirmed
Network Industries Ltd                  LOC                   CRISIL A3    50      Reaffirmed
Network Industries Ltd                  Bill Discounting      CRISIL A3    80      Reaffirmed
NIS Management Pvt Ltd                  BG                    CRISIL A3    2.5     Reaffirmed
P Ramesh                                BG                    CRISIL A4    50      Assigned
Partap Fabrics Pvt Ltd                  BG                    CRISIL A4+   13      Upgraded
                                                                                   from CRISIL
                                                                                   A4
Pooja Timber Store                      LOC                   CRISIL A4    112.5   Reaffirmed
R.J. Chatha Rice Mills                  Packing Credit        CRISIL A4    70      Reaffirmed
Ratchet Laboratories Ltd                LOC                   CRISIL A4+   10      Reaffirmed
Shree Venkateshwara Sponge & Power Pvt  Bill Discounting      CRISIL D     50      Downgraded
Ltd                                                                                from CRISIL
                                                                                   A4
Shree Venkateshwara Sponge & Power Pvt  TL                    CRISIL D     53.7    Downgraded
Ltd                                                                                from CRISIL
                                                                                   A4
Shree Venkateshwara Sponge & Power Pvt  LOC                   CRISIL D     50      Downgraded
Ltd                                                                                from CRISIL
                                                                                   A4
Shriram City Union Finance Ltd          ST Debt Programme     CRISIL A1+   8500    Reaffirmed
Simms Engineering Pvt Ltd               BG                    CRISIL A4+   67.5    Reaffirmed
Simms Engineering Pvt Ltd               Bill                  CRISIL A4+   30      Reaffirmed
                                        Purchase-Discounting
                                        Fac
Tube Investments of India Ltd           ST Debt               CRISIL A1+   2000    Reaffirmed
Tube Investments of India Ltd           LOC**                 CRISIL A1+   3000    Reaffirmed
**Interchangeable with bank guarantee
UltraTech Cement Ltd                    ST Debt               CRISIL A1+   1000    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd          FD Programme          FAA          -       Reaffirmed

LONG TERM RATINGS:
-------------------
Ambadi Investments Pvt Ltd              NCDs                  CRISIL AA    250     Assigned
Ashok Leyland Ltd                       CC*                   CRISIL AA-   7500    Reaffirmed
* Interchangeable with short-term bank facilities
Ashok Leyland Ltd                       Proposed CC Limit*    CRISIL AA-   1500    Reaffirmed
* Interchangeable with short-term bank facilities
Asian Oilfield Services Ltd             CC                    CRISIL BB+   100     Downgraded
                                                                                   from CRISIL
                                                                                   BBB+
Asian Oilfield Services Ltd             TL                    CRISIL BB+   110     Downgraded
                                                                                   from CRISIL
                                                                                   BBB+
BCL Industries and Infrastructure Ltd   CC*                   CRISIL BB-   435     Reaffirmed
*Includes interchangeable Packing Credit of Rs. 10.0 Million, Foreign Outward Bill Purchased
(FOBP) of Rs. 10.0 Million and Foreign Outward Bills Negotiated
Brainsmart Media and Advertising Pvt    CC                    CRISIL B+    150     Assigned
Ltd
Chaitanya Tractors and Automobiles      TL                    CRISIL B+    2.5     Assigned
Chaitanya Tractors and Automobiles      Proposed LT Bk Loan   CRISIL B+    5       Assigned
                                        Fac
Chaitanya Tractors and Automobiles      CC                    CRISIL B+    15      Assigned
Dr. Kamakshi Memorial Hospital Pvt Ltd  CC                    CRISIL D     67.5    Reaffirmed
Dr. Kamakshi Memorial Hospital Pvt Ltd  LT Loan               CRISIL D     332.5   Reaffirmed
Ganesh Rice Mills                       TL                    CRISIL B+    13.4    Assigned
Ganesh Rice Mills                       CC                    CRISIL B+    120     Assigned
Ganesh Rice Mills                       Proposed LT Bk Loan   CRISIL B+    51.6    Assigned
                                        Fac
Gangotri Paper Mills Pvt Ltd            CC                    CRISIL BB-   50      Reaffirmed
Gangotri Paper Mills Pvt Ltd            Proposed LT Bk Loan   CRISIL BB-   25      Reaffirmed
                                        Fac
Gangotri Paper Mills Pvt Ltd            TL                    CRISIL BB-   335     Reaffirmed
Geethalaya Exports                      Proposed Long- Term   CRISIL BBB-  2       Reaffirmed
                                        Bk Loan Fac
Geltec Pvt Ltd                          Export Bill           CRISIL A+    20      Reaffirmed
                                        Negotiation
Geltec Pvt Ltd                          Foreign Exchange Fac  CRISIL A+    46.3    Reaffirmed
Geltec Pvt Ltd                          Proposed TL           CRISIL A+    11.2    Reaffirmed
Geltec Pvt Ltd                          WC Demand Loan        CRISIL A+    10*     Reaffirmed
* Fully interchangeable with Overdraft Facility/ Import Documentary Credit/Buyer's Credit
GMM Pfaudler Ltd                        CC                    CRISIL AA-   200     Reaffirmed
Himatsingka Seide Ltd                   NCD                   CRISIL BBB-  200     Assigned
Himatsingka Seide Ltd                   Proposed LT Bk Loan   CRISIL BBB-  533.3   Reaffirmed
                                        Fac
Himatsingka Seide Ltd                   TL                    CRISIL BBB-  2721.7  Reaffirmed
Jai Mata Di Paper Mills Pvt Ltd         TL                    CRISIL D     43.5    Assigned
Jai Mata Di Paper Mills Pvt Ltd         CC                    CRISIL D     17      Assigned
Jai Mata Di Paper Mills Pvt Ltd         Proposed LT Bk Loan   CRISIL D     9.5     Assigned
                                        Fac
K. G. Chains Pvt Ltd                    CC                    CRISIL D     250     Downgraded
                                                                                   from CRISIL
                                                                                   BB+
K. G. Chains Pvt Ltd                    CC                    CRISIL D     250     Downgraded
                                                                                   from CRISIL
                                                                                   BB+
K.J.L. Poultries Pvt Ltd                CC                    CRISIL B     94      Assigned
K.J.L. Poultries Pvt Ltd                LT Loan               CRISIL B     340     Assigned
Kanoria Chembond Pvt Ltd                CC                    CRISIL B+    52.5    Assigned
KMB Trading Corporation Pvt Ltd         CC                    CRISIL B-    60      Downgraded
                                                                                   from CRISIL
                                                                                   B
KMB Trading Corporation Pvt Ltd         LT Loan               CRISIL B-    165.4   Downgraded
                                                                                   from CRISIL
                                                                                   B
KMB Trading Corporation Pvt Ltd         Proposed LT Bk Loan   CRISIL B-    26.7    Downgraded
                                        Fac                                        from CRISIL
                                                                                   B
M/s. P. Venkateswara Rao                Proposed Overdraft FacCRISIL BB    35      Assigned
M/s. P. Venkateswara Rao                Overdraft Fac         CRISIL BB    45      Assigned
Malda Metal Pvt Ltd                     CC                    CRISIL D     30      Reaffirmed
Malda Metal Pvt Ltd                     LOC                   CRISIL D     10      Reaffirmed
Malda Metal Pvt Ltd                     LT Loan               CRISIL D     10      Reaffirmed
Malda Metal Pvt Ltd                     Proposed LT Bk Loan   CRISIL D     20      Reaffirmed
                                        Fac
Manappuram Finance Ltd                  NCD                   CRISIL A+    3000    Assigned
Manappuram Finance Ltd                  NCD                   CRISIL A+    5000    Reaffirmed
MAS Financial Services Ltd              NCD                   CRISIL BBB+  360     Reaffirmed
MAS Financial Services Ltd              Subordinate Bond      CRISIL BBB+  500     Withdrawn
MAS Financial Services Ltd              CC                    CRISIL BBB+  2950    Reaffirmed
MAS Financial Services Ltd              Proposed LT Bk Loan   CRISIL BBB+  2760    Reaffirmed
                                        Fac
MAS Financial Services Ltd              TL                    CRISIL BBB+  1290    Reaffirmed
Mehrab N Irani & Company                CC                    CRISIL B     60      Reaffirmed
MPIL Steel Structures Ltd               CC                    CRISIL BBB-  160     Reaffirmed
MPIL Steel Structures Ltd               Proposed LT Bk Loan   CRISIL BBB-  80.2    Reaffirmed
                                        Fac
MPIL Steel Structures Ltd               LT Loan               CRISIL BBB-  79.8    Reaffirmed
Munish Kumar Bansal Contractor          CC                    CRISIL B     45      Reaffirmed
Network Industries Ltd                  CC^                   CRISIL BBB-  180     Reaffirmed
^Cash Credit includes sublimit of Rs.80 Million for export packing credit/packing credit in
foreign currency and Rs.80 million for foreign bill discounting
Network Industries Ltd                  Standby Line of CreditCRISIL BBB-  60      Reaffirmed
NIS Management Pvt Ltd                  CC                    CRISIL BBB-  120     Reaffirmed
NIS Management Pvt Ltd                  Proposed LT Bk Loan   CRISIL BBB-  16      Reaffirmed
                                        Fac
P L Multiplex India Pvt Ltd             TL                    CRISIL B-    114     Assigned
P Ramesh                                Standby Line of CreditCRISIL C     4       Assigned
P Ramesh                                CC                    CRISIL C     30      Assigned
Partap Fabrics Pvt Ltd                  CC                    CRISIL BB    90      Upgraded
                                                                                   from CRISIL
                                                                                   B+
Partap Fabrics Pvt Ltd                  TL                    CRISIL BB    105     Upgraded
                                                                                   from CRISIL
                                                                                   B+
Pooja Timber Store                      CC                    CRISIL B     7.5     Reaffirmed
Pooja Timber Store                      LOC*                  CRISIL B     10      Reaffirmed
* Rs.10 Million interchangeable with Cash Credit limit
R.J. Chatha Rice Mills                  CC                    CRISIL B+    70      Reaffirmed
Raja Crowns and Cans Pvt Ltd            CC                    CRISIL BBB-  100     Reaffirmed
Raja Crowns and Cans Pvt Ltd            Proposed Long -Term   CRISIL BBB-  17.7    Reaffirmed
                                        Bk Loan Fac
Raja Crowns and Cans Pvt Ltd            TL                    CRISIL BBB-  25.3    Reaffirmed
Rama Krishna Spintex Pvt Ltd            CC                    CRISIL B+    57.5    Reaffirmed
Rama Krishna Spintex Pvt Ltd            Rupee TL              CRISIL B+    144     Reaffirmed
Ratchet Laboratories Ltd                CC                    CRISIL BB+   120     Reaffirmed
Ratchet Laboratories Ltd                LT Loan               CRISIL BB+   40      Reaffirmed
Sai Srinivasa Ginning Mill              TL                    CRISIL B-    27.5    Assigned
Sai Srinivasa Ginning Mill              CC                    CRISIL B-    20      Assigned
Sai Srinivasa Ginning Mill              Proposed LT Bk Loan   CRISIL B-    10      Assigned
                                        Fac
Shree Venkateshwara Sponge & Power Pvt  CC                    CRISIL D     65      Downgraded
Ltd                                                                                from CRISIL
                                                                                   C
Shree Venkateshwara Sponge & Power Pvt  Proposed LT Bk Loan   CRISIL D     134.3   Downgraded
Ltd                                     Fac                                        from CRISIL
                                                                                   C
Shriram City Union Finance Ltd          NCD Issue             CRISIL AA-   5000    Assigned
Shriram City Union Finance Ltd          Subordinated Debt     CRISIL AA-   1500    Reaffirmed
                                        Issue
Shriram City Union Finance Ltd          NCD Issue             CRISIL AA-   7700    Reaffirmed
Shyamali Cold Storage Pvt Ltd           TL                    CRISIL D     36.7    Assigned
Shyamali Cold Storage Pvt Ltd           BG                    CRISIL D     1.8     Assigned
Shyamali Cold Storage Pvt Ltd           CC                    CRISIL D     20      Assigned
Simms Engineering Pvt Ltd               CC                    CRISIL BB    75      Upgraded
                                                                                   from CRISIL
                                                                                   BB-
Simms Engineering Pvt Ltd               TL                    CRISIL BB    1.7     Upgraded
                                                                                   from CRISIL
                                                                                   BB-
Swami Vivekananda Educational &         TL                    CRISIL D     350     Assigned
Charitable Trust
Tapal Steel Pvt Ltd                     CC                    CRISIL D     100     Downgraded
                                                                                   from CRISIL
                                                                                   C
Tapal Steel Pvt Ltd                     LOC                   CRISIL D     8       Reassigned
Tapal Steel Pvt Ltd                     TL                    CRISIL D     85      Reassigned
Tata Motors Finance Ltd                 Acquirer payouts      CRISIL AAA   3095.4  Withdrawn
                                                              (SO)
Tata Motors Finance Ltd                 Acquirer payouts      CRISIL AAA   3095.4  Withdrawn
                                                              (SO)
TI Steels Pvt Ltd                       TL                    CRISIL D     120     Reaffirmed
TI Steels Pvt Ltd                       CC                    CRISIL D     65      Reaffirmed
Tube Investments of India Ltd           NCDs                  CRISIL AA    1000    Assigned
Tube Investments of India Ltd           NCDs                  CRISIL AA    3000    Reaffirmed
Tube Investments of India Ltd           NCDs                  CRISIL AA    1000    Reaffirmed
Tube Investments of India Ltd           NCDs                  CRISIL AA    500     Reaffirmed
Tube Investments of India Ltd           NCDs                  CRISIL AA    1000    Reaffirmed
Tube Investments of India Ltd           NCDs                  CRISIL AA    1000    Reaffirmed
Tube Investments of India Ltd           NCDs                  CRISIL AA    1500    Reaffirmed
Tube Investments of India Ltd           CC*                   CRISIL AA    4000    Reaffirmed
*Interchangeable with short-term buyer's credit, packing credit, and working capital demand loan
UltraTech Cement Ltd                    NCDs                  CRISIL AAA   2500    Assigned
UltraTech Cement Ltd                    NCDs                  CRISIL AAA   6400    Reaffirmed
Unique Chemoplant Equipments            Rupee TL              CRISIL D     6.1     Assigned
Unique Chemoplant Equipments            LOC                   CRISIL D     15      Assigned
Unique Chemoplant Equipments            BG                    CRISIL D     78.9    Assigned
Unique Chemoplant Equipments            CC                    CRISIL D     35      Assigned
Yogesh Enterprises                      Proposed LT Bk Loan   CRISIL B     400     Assigned
                                        Fac
--------------------------------------------------------------------------------------------
$: 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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