October 7, 2013 / 7:46 AM / 4 years ago

CRISIL ratings for Indian debt instruments-Oct 7

Oct 7 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of October 4, 2013.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Alembic Pharmaceuticals Ltd           ST Debt            CRISIL A1+     2250    Reaffirmed
Bajaj Polyblends Pvt Ltd              BG                 CRISIL A4+     5       Reaffirmed
Central Bank of India                 CDs Programme      CRISIL A1+     200000  Reaffirmed
Famina Knit Fabs                      BG                 CRISIL A4      1       Reaffirmed
Famina Knit Fabs                      Bill Discounting   CRISIL A4      1       Reaffirmed
Famina Knit Fabs                      Foreign Bill       CRISIL A4      95      Reaffirmed
                                      Purchase
Famina Knit Fabs                      Packing Credit     CRISIL A4      99      Reaffirmed
Jai Hind Wire Rod Mills Ltd           BG                 CRISIL A4+     2.5     Reaffirmed
Jai Hind Wire Rod Mills Ltd           LOC                CRISIL A4+     150     Reaffirmed
Konark Structural Engineers Pvt Ltd   BG                 CRISIL A3      40      Suspended
Kwality Pharmaceuticals Pvt Ltd       BG                 CRISIL A4+     20      Assigned
Kwality Pharmaceuticals Pvt Ltd       LOC                CRISIL A4+     10      Assigned
Kwality Pharmaceuticals Pvt Ltd       Packing Credit     CRISIL A4+     30      Assigned
LIC Housing Finance Ltd               CP                 CRISIL A1+     34000   Reaffirmed
LIC Housing Finance Ltd               ST Bk Fac          CRISIL A1+     55      Reaffirmed
Manisha Infrastructure Pvt Ltd        BG                 CRISIL A4+     400     Reaffirmed
Mita India Pvt Ltd                    LOC                CRISIL A3+     37      Reaffirmed
Monarch Gems                          Export Packing     CRISIL A4+     160     Suspended
                                      Credit
Monarch Gems                          Proposed ST Bk     CRISIL A4+     30      Suspended
                                      Loan Fac
NELCO Ltd                             CP                 CRISIL A2+     150     Downgraded
                                                                                from 
                                                                                CRISIL A1
NELCO Ltd                             ST Loan            CRISIL A2+     300     Downgraded
                                                                                from 
                                                                                CRISIL A1
NELCO Ltd                             LOC & BG           CRISIL A2+     762.5   Downgraded
                                                                                from 
                                                                                CRISIL A1
NELCO Ltd                             Proposed ST Bk     CRISIL A2+     35.7    Downgraded
                                      Loan Fac                                  from
                                                                                CRISIL A1
Paul Strips and Tubes Pvt Ltd         BG                 CRISIL A4+     10      Assigned
                                                                                Suspension
                                                                                Revoked
Rajshree Steelmet Pvt Ltd             Inland             CRISIL A4+     90      Assigned
Rama Construction Co.                 BG                 CRISIL A4+     385     Reaffirmed
Rampa Autos Ltd                       BG                 CRISIL A4      8       Reassigned
Ratnamani Metals and Tubes Ltd        LOC & BG#          CRISIL A1+     6900    Reaffirmed
#Interchangeable with Bank guarantee
Shantivijay Jewels Ltd                Packing Credit     CRISIL A3      200     Reaffirmed
Shivam Rice Mills Pvt Ltd             BG                 CRISIL A4      1.3     Upgraded
                                                                                from
                                                                                CRISIL D
SP Fabricators Pvt Ltd                LOC & BG           CRISIL A3+     660     Downgraded
                                                                                from 
                                                                                CRISIL A2
Spectrum Power Generation Ltd         LOC^               CRISIL A3      450     Reaffirmed
^ With sublimit of Rs.200 Million of bank guarantee and Rs.150 Mn of buyers credit
SSP Pvt Ltd                           BG*                CRISIL A2+     250     Reaffirmed
* 100% interchangeability between Letter of Credit and bank guarantee
SSP Pvt Ltd                           LOC*               CRISIL A2+     20      Reaffirmed
* 100% interchangeability between Letter of Credit and bank guarantee
Su-Kam Power Systems Ltd              LOC & BG           CRISIL A2      2100    Reaffirmed
Su-Kam Power Systems Ltd              Proposed ST Bk     CRISIL A2      20      Reaffirmed
                                      Loan Fac
Tatanet Services Ltd                  LOC & BG*          CRISIL A2+     120     Downgraded
                                                                                from
                                                                                CRISIL A1
*Bank Guarantee of Rs.120 million with sub-limit of Rs.20 million for letter of credit
The India Thermit Corporation Ltd     BG                 CRISIL A2+     275     Reaffirmed
The India Thermit Corporation Ltd     LOC and BG         CRISIL A2+     80      Reaffirmed
Thomson Rubbers India Pvt Ltd         BG                 CRISIL A4+     1.5     Assigned
Thomson Rubbers India Pvt Ltd         Export Packing     CRISIL A4+     220     Assigned
                                      Credit
Thomson Rubbers India Pvt Ltd         Foreign Bill       CRISIL A4+     30      Assigned
                                      Discounting
Thomson Rubbers India Pvt Ltd         LOC                CRISIL A4+     100     Assigned
Thomson Rubbers India Pvt Ltd         Standby Line of    CRISIL A4+     30      Assigned
                                      Credit
Time Mauser Industries Pvt Ltd        LOC & BG           CRISIL A3      70      Downgrade
                                                                                from
                                                                                CRISIL A1


LONG TERM RATINGS:
-------------------
Alembic Pharmaceuticals Ltd           CC and WC Demand   CRISIL AA      2250    Upgraded 
                                      Loan^                                     from 
                                                                                CRISIL AA-
Arpit International Pvt Ltd           CC*                CRISIL B+      62.5    Suspended
* Interchangeable with Bill Discounting, letter of credit and Buyers credit upto Rs.20 million
Bajaj Polyblends Pvt Ltd              CC                 CRISIL BB-     80      Reaffirmed
Bajaj Polyblends Pvt Ltd              Proposed LT Bk     CRISIL BB-     14.8    Reaffirmed
                                      Loan Fac
Bajaj Polyblends Pvt Ltd              TL                 CRISIL BB-     20.2    Reaffirmed
Balaji Machine Works Pvt Ltd          CC*                CRISIL BB-     54      Reaffirmed
*Includes sub-limit of Letter of Credit of Rs.30.0 Million
Balaji Machine Works Pvt Ltd          Rupee TL           CRISIL BB-     36      Reaffirmed
Central Bank of India                 Lower Tier-II      CRISIL AA      23000   Downgraded
                                      Bonds                                     from CRISIL
                                                                                AA+
Central Bank of India                 Tier-I Perpetual   CRISIL AA      5000    Downgraded
                                      Bond Issue                                from CRISIL
                                                                                AA+
Central Bank of India                 Upper Tier-II      CRISIL AA      6000    Downgraded
                                      Bonds                                     from CRISIL
                                                                                AA+
Chas Metal Centre                     CC                 CRISIL B+      97      Suspended
Cheema Spintex Ltd                    CC                 CRISIL D       105     Suspended
Cheema Spintex Ltd                    Export Bill        CRISIL D       225     Suspended
                                      Purchase
                                      -Discounting
Cheema Spintex Ltd                    LOC                CRISIL D       90      Suspended
Cheema Spintex Ltd                    TL                 CRISIL D       344.7   Suspended
Equitas Micro Finance Pvt Ltd         Equitas Direct     CRISIL AAA SO  340.1   withdrawn
                                      Assignment January
                                      2012
Famina Knit Fabs                      TL                 CRISIL B       2       Reaffirmed
G. H. Agro Products Pvt Ltd           CC                 CRISIL B+      160     Reaffirmed
G. H. Agro Products Pvt Ltd           TL                 CRISIL B+      20      Reaffirmed
Harsh Automobiles Pvt Ltd             CC                 CRISIL BB      50      Reaffirmed
Harsh Automobiles Pvt Ltd             TL                 CRISIL BB      40      Reaffirmed
Harsh Automobiles Pvt Ltd             Proposed LT Bk     CRISIL BB      60      Reaffirmed
                                      Loan Fac
Hi-Rise Building Materials            CC                 CRISIL D       90      Downgraded
                                                                                from
                                                                                CRISIL B
Hi-Rise Building Materials            Proposed LT Bk     CRISIL D       140     Downgraded
                                      Loan Fac                                  from 
                                                                                CRISIL B
Jai Hind Wire Rod Mills Ltd           CC                 CRISIL BB+     90      Reaffirmed
Jai Hind Wire Rod Mills Ltd           Proposed LT Bk     CRISIL BB+     103.1   Reaffirmed
                                      Loan Fac
Jai Hind Wire Rod Mills Ltd           TL                 CRISIL BB+     150     Reaffirmed
Konark Structural Engineers Pvt Ltd   CC                 CRISIL BBB-    60      Suspended
Kwality Pharmaceuticals Pvt Ltd       CC                 CRISIL BB-     50      Assigned
Kwality Pharmaceuticals Pvt Ltd       TL                 CRISIL BB-     2.6     Assigned
Kwality Pharmaceuticals Pvt Ltd       Proposed LT Bk     CRISIL BB-     30      Assigned
                                      Loan Fac
LIC Housing Finance Ltd               NCDs               CRISIL AAA     589890  Reaffirmed
LIC Housing Finance Ltd               Tier II Bond       CRISIL AAA     17500   Reaffirmed
LIC Housing Finance Ltd               Upper Tier II      CRISIL AAA     16000   Reaffirmed
                                      Bonds
LIC Housing Finance Ltd               LT Bk Fac          CRISIL AAA     275.25  Reaffirmed
LIC Housing Finance Ltd               FD                 FAAA           -       Reaffirmed
Mack Spring Industries                CC                 CRISIL BB      10      Suspended
Mack Spring Industries                LT Loan            CRISIL BB      30      Suspended
Mack Spring Industries                Proposed LT Bk     CRISIL BB      30      Suspended
                                      Loan Fac
Mack Springs Pvt Ltd                  CC                 CRISIL BB      40      Suspended
Mack Springs Pvt Ltd                  Proposed LT Bk     CRISIL BB      30      Suspended
                                      Loan Fac
Magnus Alloys Ltd                     Bill Discounting   Suspended      500     Assigned
                                      under LOC
Manisha Infrastructure Pvt Ltd        CC                 CRISIL BB-     130     Reaffirmed
Marutii Quality Products Pvt Ltd      CC                 CRISIL B-      30      Downgraded
                                                                                from 
                                                                                CRISIL B
Marutii Quality Products Pvt Ltd      Proposed LT Bk     CRISIL B-      10      Downgraded
                                      Loan Fac                                  from
                                                                                CRISIL B
Marutii Quality Products Pvt Ltd      TL                 CRISIL B-      125.7   Downgraded
                                                                                from 
                                                                                CRISIL B
Mita India Pvt Ltd                    CC                 CRISIL BBB     150     Reaffirmed
NELCO Ltd                             LT Loan            CRISIL A-      10.2    Downgraded
                                                                                from
                                                                                CRISIL A
NELCO Ltd                             CC                 CRISIL A-      285     Downgraded
                                                                                from
                                                                                CRISIL A
NELCO Ltd                             Proposed TL        CRISIL A-      75      Downgraded
                                                                                from
                                                                                CRISIL A
Optival Health Solutions Pvt Ltd      CC                 CRISIL BB+     400     Upgraded 
                                                                                from
                                                                                CRISIL BB
Optival Health Solutions Pvt Ltd      Proposed CC Limit  CRISIL BB+     350     Upgraded 
                                                                                from
                                                                                CRISIL BB
Paul Strips and Tubes Pvt Ltd         CC                 CRISIL BB-     80      Assigned
                                                                                Suspension
                                                                                Revoked
Paul Strips and Tubes Pvt Ltd         TL                 CRISIL BB-     30.7    Assigned
                                                                                Suspension
                                                                                Revoked
Rajshree Steelmet Pvt Ltd             CC                 CRISIL BB      60      Assigned
Rama Construction Co.                 CC                 CRISIL BB+     15      Reaffirmed
Rampa Autos Ltd                       CC                 CRISIL B-      53      Reaffirmed
Ratnamani Metals and Tubes Ltd        CC*                CRISIL AA-     675     Reaffirmed
*Interchangeable with cash credit
Ratnamani Metals and Tubes Ltd        TL                 CRISIL AA-     611.7   Reaffirmed
Shivam Rice Mills Pvt Ltd             CC                 CRISIL B-      26.4    Upgraded
                                                                                from
                                                                                CRISIL D
Shivam Rice Mills Pvt Ltd             Proposed LT Bk     CRISIL B-      12.2    Upgraded 
                                      Loan Fac                                  from 
                                                                                CRISIL D
Shivam Rice Mills Pvt Ltd             TL                 CRISIL B-      23.7    Upgraded
                                                                                from
                                                                                CRISIL D
Shri Laxmi Udyog Pvt Ltd              CC                 CRISIL B+      73      Reaffirmed
Simoco Telecommunications South Asia  CC*                CRISIL D       277     Suspended
Ltd
*Interchangeability from CC to LC to the extent of Rs.40Million
Simoco Telecommunications South Asia  LOC$               CRISIL D       83      Suspended
Ltd
Simplex Chemopack Pvt Ltd             CC                 CRISIL BB      76.2    Suspended
SP Fabricators Pvt Ltd                CC                 CRISIL BBB     100     Downgraded
                                                                                from CRISIL
                                                                                BBB+
SP Fabricators Pvt Ltd                WC TL              CRISIL BBB     750     Downgraded
                                                                                from CRISIL
                                                                                BBB+
Spectrum Power Generation Ltd         CC*                CRISIL BBB-    350     Reaffirmed
*Convertible with Letter of Credit of Rs. 100 Million
Spectrum Power Generation Ltd         Proposed LT Bk     CRISIL BBB-    45      Reaffirmed
                                      Loan Fac
Spectrum Power Generation Ltd         TL                 CRISIL BBB-    2355    Reaffirmed
SSP Pvt Ltd                           CC                 CRISIL A-      75      Reaffirmed
SSP Pvt Ltd                           TL                 CRISIL A-      55      Reaffirmed
Su-Kam Power Systems Ltd              CC                 CRISIL BBB+    1300    Reaffirmed
Su-Kam Power Systems Ltd              TL                 CRISIL BBB+    900     Reaffirmed
Tatanet Services Ltd                  CC                 CRISIL A-      20      Downgraded
                                                                                from 
                                                                                CRISIL A
The South Indian Film Chamber of      LT Loan            CRISIL B+      100     Reaffirmed
Commerce
Thomson Rubbers India Pvt Ltd         CC                 CRISIL BB-     100     Assigned
Thomson Rubbers India Pvt Ltd         CC*                CRISIL BB-     50      Assigned
*Adhoc Limit
Thomson Rubbers India Pvt Ltd         Proposed LT Bk     CRISIL BB-     100     Assigned
                                      Loan Fac
Time Mauser Industries Pvt Ltd        CC                 CRISIL BBB-    130     Assigned
Time Mauser Industries Pvt Ltd        Corporate Loan     CRISIL BBB-    50      Assigned
Time Mauser Industries Pvt Ltd        Proposed LT Bk     CRISIL BBB-    119.4   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)

Our Standards:The Thomson Reuters Trust Principles.
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