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CRISIL ratings for Indian debt instruments-Dec 10
December 10, 2012 / 9:03 AM / 5 years ago

CRISIL ratings for Indian debt instruments-Dec 10

Dec 10 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 7, 2012.

COMPANY                                 INSTRUMENT            RATING       AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------            ------       -----   ---------
SHORT TERM RATINGS:
-------------------
Ajanta India Ltd                        BG                    CRISIL A4    10      Reaffirmed
Ajanta India Ltd                        LOC                   CRISIL A4    100     Reaffirmed
Ajanta India Ltd                        BG                    CRISIL A4    10      Reaffirmed
Ajanta India Ltd                        LOC                   CRISIL A4    100     Reaffirmed
Arvind Footwears Pvt Ltd                BG*                   CRISIL A3    2.5     Reaffirmed
*Interchangeable with Letter of Credit
Arvind Footwears Pvt Ltd                Bill Discounting      CRISIL A3    50      Reaffirmed
                                        under LOC
Arvind Footwears Pvt Ltd                Bill                  CRISIL A3    80      Reaffirmed
                                        Purchase-Discounting
                                        Fac
Arvind Footwears Pvt Ltd                LOC                   CRISIL A3    2.5     Reaffirmed
Arvind Footwears Pvt Ltd                Packing Credit        CRISIL A3    10      Reaffirmed
Arvind Footwears Pvt Ltd                Proposed ST Bk Loan   CRISIL A3    10      Reaffirmed
                                        Fac
Arvind Footwears Pvt Ltd                BG*                   CRISIL A3    2.5     Reaffirmed
*Interchangeable with Letter of Credit
Arvind Footwears Pvt Ltd                Bill Discounting      CRISIL A3    50      Reaffirmed
                                        under LOC
Arvind Footwears Pvt Ltd                Bill                  CRISIL A3    80      Reaffirmed
                                        Purchase-Discounting
                                        Fac
Arvind Footwears Pvt Ltd                LOC                   CRISIL A3    2.5     Reaffirmed
Arvind Footwears Pvt Ltd                Packing Credit        CRISIL A3    10      Reaffirmed
Arvind Footwears Pvt Ltd                Proposed ST Bk Loan   CRISIL A3    10      Reaffirmed
                                        Fac
Ashok Bricks Industries Pvt Ltd         BG                    CRISIL A4    60      Upgraded
                                                                                   from
                                                                                   CRISIL D
Assam Roofing Ltd                       Stand by Line of      CRISIL A2    50      Suspended
                                        Credit
Assam Roofing Ltd                       LOC                   CRISIL A2    117.5   Suspended
Bhati Associates Pvt Ltd                Overdraft Fac         CRISIL A4+   11.2    Reaffirmed
Bhati Associates Pvt Ltd                BG                    CRISIL A4+   41      Reaffirmed
BRGD Ingot Pvt Ltd                      LOC                   CRISIL A4+   30      Reaffirmed
BRGD Ingot Pvt Ltd                      LOC                   CRISIL A4+   30      Reaffirmed
Edelweiss Securities Ltd                BG                    CRISIL A1+   8600    Reaffirmed
HPL Additives Ltd                       BG                    CRISIL A2+   5       Downgraded
                                                                                   from CRISIL
                                                                                   A1
HPL Additives Ltd                       LOC                   CRISIL A2+   160     Downgraded
                                                                                   from CRISIL
                                                                                   A1
HPL Additives Ltd                       Post Shipment Credit  CRISIL A2+   40      Downgraded
                                                                                   from CRISIL
                                                                                   A1
KKRC Infrastructure Pvt Ltd             BG                    CRISIL A4+   270     Reaffirmed
Metro Ceramics                          BG                    CRISIL A4    11      Assigned
National Mining Co. Ltd                 BG                    CRISIL A4    5       Reaffirmed
Nawa Engineers & Consultants Pvt Ltd    LOC                   CRISIL A3    40      Reaffirmed
Nawa Engineers & Consultants Pvt Ltd    BG                    CRISIL A3    40      Reaffirmed
P D P Steels Ltd                        BG                    CRISIL A2    340     Suspended
Pioneer Wincon Pvt Ltd                  LOC                   CRISIL A4    100     Reaffirmed
Raj Hair International Pvt Ltd          Packing Credit        CRISIL A4+   250     Reaffirmed
Raj Hair International Pvt Ltd          Bill Discounting      CRISIL A4+   75      Reaffirmed
Rajlaxmi Construction                   BG                    CRISIL A4+   120     Reaffirmed
Rakshit Pharmaceuticals Ltd             LOC                   CRISIL A4+   11      Reaffirmed
Rakshit Pharmaceuticals Ltd             Proposed ST Bk Loan   CRISIL A4+   14      Reaffirmed
                                        Fac
Ramco International                     Packing Credit*       CRISIL A4+   115     Reaffirmed
*Fully Interchangeable with Foreign Bill Discounting
Ramco International                     Foreign Bill          CRISIL A4+   30      Reaffirmed
                                        Discounting*
*Fully Interchangeable with Packing Credit 
Renjin Construction                     BG                    CRISIL A4+   40      Assigned
Scope T and M Pvt Ltd                   BG                    CRISIL A4+   60      Reaffirmed
Scope T and M Pvt Ltd                   Bill Negotiation      CRISIL A4+   10      Reaffirmed
Scope T and M Pvt Ltd                   LOC                   CRISIL A4+   10      Reaffirmed
Silica Infotech Pvt Ltd                 BG*                   CRISIL A4    20      Reaffirmed
* 100 per cent interchangeability between Bank Guarantee and Letter of Credit
Silica Infotech Pvt Ltd                 LOC*                  CRISIL A4    5       Reaffirmed
* 100 per cent interchangeability between Bank Guarantee and Letter of Credit
Sonai Constructions Pvt Ltd             BG                    CRISIL A4    40      Downgraded
                                                                                   from CRISIL
                                                                                   A4+
Srini Pharmaceuticals Ltd               LOC                   CRISIL A4+   100     Reaffirmed
Srini Pharmaceuticals Ltd               BG                    CRISIL A4+   2.5     Reaffirmed
SUL Steel Pvt Ltd                       BG                    CRISIL A4+   50      Reaffirmed
SUL Steel Pvt Ltd                       Bill Discounting      CRISIL A4+   100     Reaffirmed
SUL Steel Pvt Ltd                       LOC                   CRISIL A4+   100     Reaffirmed
Synthite Industries Ltd                 BG                    CRISIL A1+   10      Reaffirmed
Synthite Industries Ltd                 Export Finance Limit^ CRISIL A1+   500     Reaffirmed
^100% Interchangebility between letter of credit.

Synthite Industries Ltd                 LOC                   CRISIL A1+   20      Reaffirmed
Synthite Industries Ltd                 LOC and BG            CRISIL A1+   170     Reaffirmed
Synthite Industries Ltd                 Packing Credit#@**    CRISIL A1+   1998    Reaffirmed
#Rs.998.0 million is interchangeable between packing credit in foreign currency, 
foreign documentary bill purchase, and foreign usance discount bill purchase.
@Rs.500.0 million is interchangeable between packing credit in foreign currency 
and foreign documentary bill purchase. 
**Rs.500.0 million is interchangeable between packing credit in foreign currency, 
import letter of credit, standby letter of credit, short-term loan, and overdraft 
export invoice financing. 
Tata Yazaki Autocomp Ltd                LOC*                  CRISIL A2+   1400    Reaffirmed
Taurian Iron & Steel Company Pvt Ltd    CC**                  CRISIL A3+   10      Suspended
** Fully interchangeable with Working Capital Demand Loan/Overdraft.
Taurian Iron & Steel Company Pvt Ltd    CC*                   CRISIL A3+   150     Suspended
* Fully interchangeable with Bill Discounting and Packing Credit in Foreign Currency.
United Steel and Structurals Pvt Ltd    BG                    CRISIL A4    15      Assigned
Valia Impex Pvt Ltd                     Bill Discounting      CRISIL A4    577.5   Reaffirmed
Valia Impex Pvt Ltd                     Buyer Credit Limit    CRISIL A4    190     Reaffirmed
Valia Impex Pvt Ltd                     BG                    CRISIL A4    80      Reaffirmed

LONG TERM RATINGS:
-------------------
Ajanta India Ltd                        CC                    CRISIL B     160     Reaffirmed
Ajanta India Ltd                        TL                    CRISIL B     46      Reaffirmed
Ajanta India Ltd                        CC                    CRISIL B     160     Reaffirmed
Ajanta India Ltd                        TL                    CRISIL B     46      Reaffirmed
Ashok Bricks Industries Pvt Ltd         CC                    CRISIL B-    25      Upgraded
                                                                                   from
                                                                                   'CRISIL D
Ashok Bricks Industries Pvt Ltd         TL                    CRISIL B-    11.2    Upgraded
                                                                                   from
                                                                                   'CRISIL D
Asia Resorts Ltd                        TL                    CRISIL BB+   150     Assigned
Asia Resorts Ltd                        CC                    CRISIL BB+   15      Assigned
Asia Resorts Ltd                        Proposed LT Bk Loan   CRISIL BB+   85      Assigned
                                        Fac
Assam Roofing Ltd                       CC                    CRISIL BBB+  315     Suspended
Assam Roofing Ltd                       LT Loan               CRISIL BBB+  169.3   Suspended
Benchmark Dynamic CaPPS Series I        Growth Plan           CRISIL       -       Reaffirmed
                                                              AAA(SO)*
* Credit opinion
Bhati Associates Pvt Ltd                CC                    CRISIL BB-   48.8    Reaffirmed
BRGD Ingot Pvt Ltd                      CC                    CRISIL BB-   55      Reaffirmed
BRGD Ingot Pvt Ltd                      Proposed LT Bk Loan   CRISIL BB-   57      Reaffirmed
                                        Fac
BRGD Ingot Pvt Ltd                      Rupee TL              CRISIL BB-   8       Reaffirmed
BRGD Ingot Pvt Ltd                      CC                    CRISIL BB-   55      Reaffirmed
BRGD Ingot Pvt Ltd                      Proposed LT Bk Loan   CRISIL BB-   57      Reaffirmed
                                        Fac
BRGD Ingot Pvt Ltd                      Rupee TL              CRISIL BB-   8       Reaffirmed
Commercial Auto Products Pvt Ltd        CC                    CRISIL B     75      Upgraded
                                                                                   from
                                                                                   CRISIL D
Commercial Auto Products Pvt Ltd        TL                    CRISIL B     39      Upgraded
                                                                                   from
                                                                                   CRISIL D
Dunnimaa Engineers and Divers           CC                    CRISIL B     135     Upgraded
Enterprises Pvt Ltd                                                                from
                                                                                   CRISIL D
Dunnimaa Engineers and Divers           TL                    CRISIL B     185     Upgraded
Enterprises Pvt Ltd                                                                from
                                                                                   CRISIL D
Edelweiss Securities Ltd                LT Bk Fac             CRISIL AA-   5200    Reaffirmed
HPL Additives Ltd                       CC*                   CRISIL A-    347.5   Downgraded
                                                                                   from CRISIL
                                                                                   A
* Out of the total Rs 197.5 million is from Citi Bank which is fully interchangeable 
with Working Capital Demand Loan, Letter of Credit, Post shipment finance and 
Pre shipment Finance and Rs 150 million is from Canara Bank which is fully
 interchangeable with Packing Credit in Foreign Currency
HPL Additives Ltd                       TL                    CRISIL A-    50      Downgraded
                                                                                   from CRISIL
                                                                                   A
HPL Additives Ltd                       WC Demand Loan*       CRISIL A-    300     Downgraded
                                                                                   from CRISIL
                                                                                   A
*Fully interchangeable with Cash Credit limit, Post shipment credit, Pre shipment 
credit and Letter of undertaking and includes a sub limit of Rs 200 Million of 
Foreign letter of credit ^Out of the total, Rs 200 million is fully interchangeable 
with Cash Credit limit, Post shipment credit, Pre shipment credit and 
Letter of undertaking and includes a sub limit of Rs 100 Million
of Foreign letter of credit. 
Janalakshmi Financial Services Pvt Ltd  NCD*                  CRISIL BBB-  300     Assigned
*The common independent director on CRISIL's and Janalakshmi Financial Services Pvt Ltd's boards
did not participate in the rating committee meeting and rating process of this instrument.
Janalakshmi Financial Services Pvt Ltd  NCD*                  CRISIL BBB-  250     Upgraded
                                                                                   from
                                                                                   CRISIL BB+
*The common independent director on CRISIL's and Janalakshmi Financial Services Pvt Ltd's boards
did not participate in the rating committee meeting and rating process of this instrument.
Janani Tours and Resorts Pvt Ltd        CC                    CRISIL B     195     Reaffirmed
KKRC Infrastructure Pvt Ltd             Overdraft Fac         CRISIL BB-   120     Reaffirmed
Lavanya Gold Jewels India Pvt Ltd       CC                    CRISIL BB    600     Reaffirmed
Mangalore Refinery and Petrochemicals   Corporate Credit      CCR AAA              Reaffirmed
Ltd                                     Rating
Metro Ceramics                          TL                    CRISIL B+    34      Assigned
Metro Ceramics                          CC                    CRISIL B+    35      Assigned
National Mining Co. Ltd                 CC                    CRISIL B-    80      Reaffirmed
Nawa Engineers & Consultants Pvt Ltd    CC                    CRISIL BBB-  220     Reaffirmed
Nawa Engineers & Consultants Pvt Ltd    LT Loan               CRISIL BBB-  31.7    Reaffirmed
North East Roofing Pvt Ltd              CC                    CRISIL BBB+  207.5   Suspended
North East Roofing Pvt Ltd              TL                    CRISIL BBB+          Suspended
P D P Steels Ltd                        CC                    CRISIL BBB+  276     Suspended
P D P Steels Ltd                        TL                    CRISIL BBB+  76.8    Suspended
P D P Steels Ltd                        Proposed Long- Term   CRISIL BBB+  30      Suspended
                                        Bk Loan Fac
Parle Tilak Vidyalaya Association       TL                    CRISIL BBB   60      Suspended
Pioneer Wincon Pvt Ltd                  CC                    CRISIL B-    475     Reaffirmed
Prime Automobiles Pvt Ltd               TL                    CRISIL B+    17.5    Reaffirmed
Prime Automobiles Pvt Ltd               CC                    CRISIL B+    100     Reaffirmed
Prime Automobiles Pvt Ltd               TL                    CRISIL B+    17.5    Reaffirmed
Prime Automobiles Pvt Ltd               CC                    CRISIL B+    100     Reaffirmed
Rajlaxmi Construction                   CC                    CRISIL BB    130     Reaffirmed
Rajlaxmi Construction                   Proposed LT Bk Loan   CRISIL BB    50      Reaffirmed
                                        Fac
Rakshit Pharmaceuticals Ltd             CC                    CRISIL BB-   20      Reaffirmed
Rakshit Pharmaceuticals Ltd             LT Loan               CRISIL BB-   75      Reaffirmed
Rakshit Pharmaceuticals Ltd             Proposed LT Bk Loan   CRISIL BB-   30      Reaffirmed
                                        Fac
Renjin Construction                     Overdraft Fac         CRISIL BB-   32.5    Assigned
Renjin Construction                     Rupee TL              CRISIL BB-   2.4     Assigned
Renjin Construction                     Proposed Rupee TL     CRISIL BB-   5.1     Assigned
Scope T and M Pvt Ltd                   CC                    CRISIL BB    50      Reaffirmed
Scope T and M Pvt Ltd                   Proposed-LT Bk Loan   CRISIL BB    11.2    Reaffirmed
                                        Fac
Scope T and M Pvt Ltd                   TL                    CRISIL BB    8.8     Reaffirmed
Shri Beereshwar Souhard Credit Sahakari TL                    CRISIL B+    50      Assigned
Ltd
Shri Beereshwar Souhard Credit Sahakari CC                    CRISIL B+    60      Assigned
Ltd
Shri Beereshwar Souhard Credit Sahakari Proposed LT Bk Loan   CRISIL B+    211     Assigned
Ltd                                     Fac
Shri Siddarameshwar Education Trust     LT Loan               CRISIL BBB-  60      Assigned
Shri Siddarameshwar Education Trust     LT Loan               CRISIL BBB-  60      Assigned
Silica Infotech Pvt Ltd                 CC                    CRISIL B+    50      Reaffirmed
Sonai Constructions Pvt Ltd             CC                    CRISIL B+    15      Downgraded
                                                                                   from CRISIL
                                                                                   BB-
Sonai Constructions Pvt Ltd             Foreign Currency      CRISIL B+    80      Downgraded
                                        Demand Loan                                from CRISIL
                                                                                   BB-
Sri Ganesh Agencies                     CC                    CRISIL B     50      Reaffirmed
Sri Ganesh Agencies                     Proposed LT Bk Loan   CRISIL B     50      Reaffirmed
                                        Fac
Srini Pharmaceuticals Ltd               CC                    CRISIL BB+   100     Reaffirmed
Srini Pharmaceuticals Ltd               TL                    CRISIL BB+   100     Reaffirmed
Srini Pharmaceuticals Ltd               Proposed LT Bk Loan   CRISIL BB+   17.5    Reaffirmed
                                        Fac
Sripathy Assoceates                     BG                    CRISIL D     82.5    Reaffirmed
Sripathy Assoceates                     CC                    CRISIL D     40      Reaffirmed
State Bank of Hyderabad                 Perpetual Tier-I BondsCRISIL AAA   6850    Reaffirmed
State Bank of Hyderabad                 Upper Tier-II Bonds   CRISIL AAA   17500   Reaffirmed
SUL Steel Pvt Ltd                       CC                    CRISIL BB-   230     Reaffirmed
SUL Steel Pvt Ltd                       Proposed LT Bk Loan   CRISIL BB-   20      Reaffirmed
                                        Fac
Synthite Industries Ltd                 CC                    CRISIL AA-   2       Reaffirmed
Synthite Industries Ltd                 Packing Credit*       CRISIL AA-   500     Reaffirmed
*100% Interchangebility between packing credit in foreign currency, foreign bill purchase,
foreign bill discounting, foreign bill negotiation, bill purchase, bill di
Tapasya Shiksha Samiti                  TL                    CRISIL D     70      Reaffirmed
Tapasya Shiksha Samiti                  Proposed LT Bk Loan   CRISIL D     30      Reaffirmed
                                        Fac
Tata Yazaki Autocomp Ltd                CC                    CRISIL BBB+  650     Reaffirmed
Tata Yazaki Autocomp Ltd                LT Loans              CRISIL BBB+  877.9   Reaffirmed
Taurian Iron & Steel Company Pvt Ltd    CC*                   CRISIL BBB   250     Suspended
* Fully interchangeable with Working Capital Demand Loan/Overdraft, interchangeable with Bill
Discounting and Packing Credit in Foreign Currency up to a maximum of R
Taurian Iron & Steel Company Pvt Ltd    Export Packing Credit CRISIL BBB   390     Suspended
Taurian Iron & Steel Company Pvt Ltd    LOC                                        Suspended
Taurian Iron & Steel Company Pvt Ltd    Proposed LT Bk Loan                        Suspended
                                        Fac
United Steel and Structurals Pvt Ltd    TL                    CRISIL B-    46      Assigned
United Steel and Structurals Pvt Ltd    Proposed TL           CRISIL B-    13      Assigned
United Steel and Structurals Pvt Ltd    Proposed CC Limit     CRISIL B-    20      Assigned
United Steel and Structurals Pvt Ltd    CC                    CRISIL B-    50      Assigned
Valia Impex Pvt Ltd                     Overdraft             CRISIL B+    10      Reaffirmed
Valia Impex Pvt Ltd                     Proposed LT Bk Loan   CRISIL B+    400     Reaffirmed
                                        Fac
Vishal Coaters Ltd                      TL                    CRISIL B     49      Assigned
Vishal Coaters Ltd                      Proposed LT Bk Loan   CRISIL B     6       Assigned
                                        Fac
Vishal Coaters Ltd                      CC                    CRISIL B     50      Assigned
Vishal Coaters Ltd                      Overdraft Fac         CRISIL B     15      Assigned
VJTF Infrastructure Pvt Ltd             TL                    CRISIL B-    250     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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