February 5, 2015 / 5:44 AM / 3 years ago

CRISIL ratings for Indian debt instruments-Feb 5

Feb 5 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of February 4, 2015.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Allen Reinforced Plastics Pvt Ltd     BG*                CRISIL A4+     67      Reaffirmed
* Includes a sublimit of Letter of credit of Rs.17 million
Allen Reinforced Plastics Pvt Ltd     Proposed BG        CRISIL A4+     33      Reaffirmed
Allen Reinforced Plastics Pvt Ltd     Proposed ST Bk     CRISIL A4+     140     Reaffirmed
                                      Loan Fac
Aryan Energy Pvt Ltd                  BG                 CRISIL A2+     700     Assigned
Binanda Kalita                        BG                 CRISIL A4+     180     Reaffirmed
Capricorn Food Products India Ltd     BG                 CRISIL A3+     20      Reaffirmed
Capricorn Food Products India Ltd     LOC                CRISIL A3+     577     Reaffirmed
Chinttpurni Engineering Work Pvt Ltd  BG                 CRISIL A4+     110     Assigned
Chinttpurni Engineering Work Pvt Ltd  LOC                CRISIL A4+     55      Assigned
Dania Oro Jewellery Pvt Ltd           Packing Credit     CRISIL A4      125     Reaffirmed
Dania Oro Jewellery Pvt Ltd           Post Shipment      CRISIL A4      125     Reaffirmed
                                      Credit
Electro Copper and Alloys             BG                 CRISIL A4+     40      Reaffirmed
Manufacturing Company
Gagan Fibres Pvt Ltd                  BG                 CRISIL A4+     2.5     Reaffirmed
Gemstone Glass Pvt Ltd                BG                 CRISIL A3      20      Assigned
Green Fingers India Pvt Ltd           LOC                CRISIL A4+     15      Assigned
Green Fingers India Pvt Ltd           Packing Credit     CRISIL A4+     65      Assigned
Incom Cables Pvt Ltd                  BG                 CRISIL A4+     30      Reaffirmed
Incom Cables Pvt Ltd                  LOC                CRISIL A4+     220     Reaffirmed
K.K. Builders Pvt Ltd (Patna)         BG                 CRISIL D       265     Downgraded
                                                                                from CRISIL A4
K K P Textiles Ltd                    Foreign Bill       CRISIL A4+     100     Reaffirmed
                                      Discounting
K K P Textiles Ltd                    LOC                CRISIL A4+     60      Reaffirmed
K K P Textiles Ltd                    Standby LOC        CRISIL A4+     20.3    Reaffirmed
K K P Weaving and Processing Mills LtdBG                 CRISIL A4+     2.5     Assigned
K K P Weaving and Processing Mills LtdForeign LOC        CRISIL A4+     30.6    Assigned
KKP Spinning Mills Ltd                LOC                CRISIL A4+     156.9   Reaffirmed
KKP Spinning Mills Ltd                Supplier Bill      CRISIL A4+     60      Reaffirmed
                                      Discounting
MAS Financial Services Ltd            CP Programme       CRISIL A1+     200     Reaffirmed
                                      Series I
MAS Financial Services Ltd            CP Programme       CRISIL A1+     380     Reaffirmed
                                      Series II
MAS Financial Services Ltd            CP Programme       CRISIL A1+     210     Reaffirmed
                                      Series III
MAS Financial Services Ltd            CP Programme       CRISIL A1+     100     Reaffirmed
                                      Series IV
MAS Financial Services Ltd            CP Programme       CRISIL A1+     100     Reaffirmed
                                      Series V
Muthoot Fincorp Ltd                   ST Debt            CRISIL A1      4000    Reaffirmed
National Fertilizers Ltd              LOC & BG           CRISIL A1+     3000    Reaffirmed
National Fertilizers Ltd              Proposed LOC & BG  CRISIL A1+     3000    Reaffirmed
National Fertilizers Ltd              Short - Term Debt  CRISIL A1+     20000   Reaffirmed
                                      Programme
Oriental Containers Ltd               LOC                CRISIL A2      900     Reaffirmed
P. Ashokkumar and Co.                 Post Shipment      CRISIL A4      100     Reaffirmed
                                      Credit
Pan International                     Bill Discounting   CRISIL A4      200     Reaffirmed
                                      under LOC
Pan International                     Export Packing     CRISIL A4      8       Reaffirmed
                                      Credit
Pan International                     LOC & BG           CRISIL A4      5       Reaffirmed
Pan International                     Proposed ST Bk     CRISIL A4      47      Reaffirmed
                                      Loan Fac
Parekh Integrated Services Pvt Ltd    BG                 CRISIL A2      60      Reaffirmed
Parekh Integrated Services Pvt Ltd    LOC$               CRISIL A2      75      Reaffirmed
$ includes sublimit of Rs 40 million of buyers credit
Parekh Integrated Services Pvt Ltd    LOC Bill           CRISIL A2      540     Reaffirmed
                                      Discounting##
##includes sublimit of Rs.20 Million of LC Bill Discounting (Pending Confirmation)
Parekh Integrated Services Pvt Ltd    Overdraft Fac**    CRISIL A2      60      Reaffirmed
** Overdraft facility is against Fixed Deposit
Parekh Integrated Services Pvt Ltd    Overdraft Fac#     CRISIL A2      96.5    Reaffirmed
# Specific overdraft facility
Plasto Manufacturing Co.              LOC                CRISIL A4      20      Reaffirmed
Rama Pulp and Papers Ltd              BG                 CRISIL A3+     11      Reaffirmed
Recos Soil Substrates Pvt Ltd         LOC*               CRISIL A4      60      Assigned
* Rs 30 million buyers credit as a sublimit of letter of credit
Recos Soil Substrates Pvt Ltd         Proposed LOC       CRISIL A4      40      Assigned
Say India Jewellers Pvt Ltd           Packing Credit     CRISIL D       157     Downgraded
                                                                                from CRISIL A4
Say India Jewellers Pvt Ltd           Post Shipment      CRISIL D       393     Downgraded
                                      Credit                                    from CRISIL A4
Say India Jewellers Pvt Ltd           Proposed ST Bk     CRISIL D       335.6   Downgraded
                                      Loan Fac                                  from CRISIL A4
Shakti Hormann Pvt Ltd                BG                 CRISIL A2      50      Reaffirmed
Shakti Hormann Pvt Ltd                LOC                CRISIL A2      20      Reaffirmed
Shakti Hormann Pvt Ltd                Proposed ST Bk     CRISIL A2      100     Reaffirmed
                                      Loan Fac
Sri Manmaya Textiles Pvt Ltd          Bill Discounting   CRISIL A4+     21.5    Reaffirmed
Sweety Infrastructure Pvt Ltd         BG                 CRISIL A4+     200     Reaffirmed
Toyota Financial Services India Ltd   ST Debt Programme  CRISIL A1+     6000    Reaffirmed
Visual Technologies India Pvt Ltd     BG                 CRISIL A3      140     Reaffirmed
Visual Technologies India Pvt Ltd     LOC                CRISIL A3      30      Reaffirmed
Vitrag Construction Co.               BG                 CRISIL A4+     95      Reaffirmed
Yash Jewellery Pvt Ltd                Funded Interest TL CRISIL D       49.3    Downgraded
                                                                                from CRISIL A4
Yash Jewellery Pvt Ltd                Packing Credit     CRISIL D       200     Downgraded
                                                                                from CRISIL A4
Yash Jewellery Pvt Ltd                Post Shipment      CRISIL D       300     Downgraded
                                      Credit                                    from CRISIL A4

LONG TERM RATINGS:
-------------------


Allen Reinforced Plastics Pvt Ltd     CC                 CRISIL BB-     49      Reaffirmed
Allen Reinforced Plastics Pvt Ltd     Proposed CC Limit  CRISIL BB-     11      Reaffirmed

Allen Reinforced Plastics Pvt Ltd     Proposed LT Bk     CRISIL BB-     250     Reaffirmed
                                      Loan Fac
Aryan Energy Pvt Ltd                  CC*                CRISIL A-      150     Upgraded from
                                                                                CRISIL BBB
* Has sub-limit of Rs.100 million for bank guarantee
Binanda Kalita                        CC                 CRISIL BB-     30      Reaffirmed
Capricorn Food Products India Ltd     CC                 CRISIL BBB     250     Reaffirmed
Capricorn Food Products India Ltd     Export Packing     CRISIL BBB     150     Reaffirmed
                                      Credit&
&Fully interchangeable with FCNR/PCFC/PSFC/EBD
Capricorn Food Products India Ltd     Standby Line of    CRISIL BBB     50      Reaffirmed
                                      Credit
Capricorn Food Products India Ltd     TL                 CRISIL BBB     333     Reaffirmed
Capricorn Food Products India Ltd     CC*                CRISIL BBB     200     Reaffirmed
* Fully interchangeable with FCNR
Capricorn Food Products India Ltd     Export Packing     CRISIL BBB     600     Reaffirmed
                                      Credit@
@Fully interchangeable with FCNR/PCFC/PSFC/EBD
Capricorn Food Products India Ltd     CC#                CRISIL BBB     300     Reaffirmed
#Fully interchangeable with FCNR/PCFC/PSFC/EBD
Capricorn Food Products India Ltd     CC%                CRISIL BBB     236     Reaffirmed
%Fully interchangeable with FCNR/PCFC/PSFC/EBD
Capricorn Food Products India Ltd     CC**               CRISIL BBB     100     Reaffirmed
**Fully interchangeable with EPC/WCDL
Capricorn Food Products India Ltd     CC##               CRISIL BBB     214     Reaffirmed
##Fully interchangeable with EPC/PCFC
Celebi Delhi Cargo Terminal ManagementCC                 CRISIL BBB-    85      Upgraded from
India Pvt Ltd                                                                   CRISIL BB
Celebi Delhi Cargo Terminal ManagementProposed LT Bk     CRISIL BBB-    723.8   Upgraded from
India Pvt Ltd                         Loan Fac                                  CRISIL BB
Celebi Delhi Cargo Terminal ManagementTL                 CRISIL BBB-    1325.8  Upgraded from
India Pvt Ltd                                                                   CRISIL BB
Chinttpurni Engineering Work Pvt Ltd  TL                 CRISIL BB-     60.5    Reaffirmed
Chinttpurni Engineering Work Pvt Ltd  Proposed LT Bk     CRISIL BB-     34.5    Reaffirmed
                                      Loan Fac
Chinttpurni Engineering Work Pvt Ltd  CC                 CRISIL BB-     440     Reaffirmed
Dania Oro Jewellery Pvt Ltd           Proposed LT Bk     CRISIL B-      173.1   Reaffirmed
                                      Loan Fac
Electro Copper and Alloys             Bill Discounting   CRISIL BB-     10      Reaffirmed
Manufacturing Company
Electro Copper and Alloys             CC                 CRISIL BB-     70      Reaffirmed
Manufacturing Company
Electro Copper and Alloys             TL                 CRISIL BB-     5       Reaffirmed
Manufacturing Company
Gagan Fibres Pvt Ltd                  CC                 CRISIL BB      80      Reaffirmed
Gagan Fibres Pvt Ltd                  Channel Financing  CRISIL BB      60      Reaffirmed
Gemstone Glass Pvt Ltd                TL                 CRISIL BBB-    16.8    Assigned
Gemstone Glass Pvt Ltd                Proposed LT Bk     CRISIL BBB-    8.2     Assigned
                                      Loan Fac
Gemstone Glass Pvt Ltd                Packing Credit#    CRISIL BBB-    125     Assigned
#Includes sub limit of Rs.25 Million of Cash Credit
Green Fingers India Pvt Ltd           Foreign Bill       CRISIL BB-     10      Assigned
                                      Purchase
Green Fingers India Pvt Ltd           Proposed LT Bk     CRISIL BB-     0.5     Assigned
                                      Loan Fac
Green Fingers India Pvt Ltd           TL                 CRISIL BB-     13      Assigned
Incom Cables Pvt Ltd                  CC                 CRISIL BB      250     Reaffirmed
Incom Cables Pvt Ltd                  TL                 CRISIL BB      31      Reaffirmed
Jewel Cast                            Gold Loan          CRISIL B       50      Assigned
K K P Textiles Ltd                    CC                 CRISIL BB+     425     Upgraded from
                                                                                CRISIL BB
K K P Textiles Ltd                    Export Packing     CRISIL BB+     60      Upgraded from
                                      Credit                                    CRISIL BB
K K P Textiles Ltd                    TL                 CRISIL BB+     57      Upgraded from
                                                                                CRISIL BB
K K P Weaving and Processing Mills LtdCC                 CRISIL BB+     134.5   Upgraded from
                                                                                CRISIL BB
K K P Weaving and Processing Mills LtdTL                 CRISIL BB+     100.2   Upgraded from
                                                                                CRISIL BB
K.K. Builders Pvt Ltd (Patna)         CC                 CRISIL D       45      Downgraded
                                                                                from CRISIL C
Kafila Hospitality and Travels Pvt LtdCC                 CRISIL B+      400     Reaffirmed
Kafila Hospitality and Travels Pvt LtdProposed CC Limit  CRISIL B+      10      Reaffirmed
Karnataka Neeravari Nigam Ltd         Bond Programme     CRISIL AA-     5000    Assigned
KKP Spinning Mills Ltd                CC                 CRISIL BB+     270     Upgraded from
                                                                                CRISIL BB
KKP Spinning Mills Ltd                LT Loan            CRISIL BB+     104.2   Upgraded from
                                                                                CRISIL BB
KKP Spinning Mills Ltd                Standby Line of    CRISIL BB+     25      Upgraded from
                                      Credit                                    CRISIL BB
KKP Spinning Mills Ltd                WC Demand Loan     CRISIL BB+     143     Upgraded from
                                                                                CRISIL BB
MAS Financial Services Ltd            TL                 CRISIL BBB+    1040    Reaffirmed
Muthoot Fincorp Ltd                   CC                 CRISIL A       60545   Reaffirmed
Muthoot Fincorp Ltd                   LT Loan            CRISIL A       2007.5  Reaffirmed
Muthoot Fincorp Ltd                   Proposed LT Bk     CRISIL A       757.5   Reaffirmed
                                      Loan Fac
Muthoot Fincorp Ltd                   Subordinated Debt #CRISIL A       3000    Reaffirmed
# Earlier rated as Subordinate bond
Muthoot Fincorp Ltd                   NCD                CRISIL A       3000    Reaffirmed
Muthoot Fincorp Ltd                   NCD                CRISIL A       2000    Reaffirmed
Muthoot Fincorp Ltd                   NCD                CRISIL A       1000    Reaffirmed
Muthoot Fincorp Ltd                   Subordinated Debt  CRISIL A       750     Reaffirmed
                                      Bond
N.N.Saha and Sons Agro Pvt Ltd        CC                 CRISIL BB-     147.5   Reaffirmed
National Fertilizers Ltd              CC                 CRISIL AA-     10000   Reaffirmed
National Fertilizers Ltd              Proposed TL        CRISIL AA-     3000    Reaffirmed
National Fertilizers Ltd              TL*                CRISIL AA-     39000   Reaffirmed
* Including Rs.500 million interchangeable with letter of credit
National Fertilizers Ltd              Non - Convertible  CRISIL AA-     3000    Reaffirmed
                                      Debenture
National Fertilizers Ltd              Bond Programme     CRISIL AA-     1176    Reaffirmed
Nava Nirman Fabrication Pvt Ltd       TL                 CRISIL BB      60      Assigned
Nava Nirman Fabrication Pvt Ltd       CC                 CRISIL BB      50      Assigned
Nava Nirman Fabrication Pvt Ltd       Proposed LT Bk     CRISIL BB      15      Assigned
                                      Loan Fac
Oriental Containers Ltd               CC                 CRISIL BBB+    600     Reaffirmed
Parekh Integrated Services Pvt Ltd    BG^                CRISIL BBB+    60      Reaffirmed
^ includes sublimit of Rs 20 million of bank guarantee (other business)
Parekh Integrated Services Pvt Ltd    CC*                CRISIL BBB+    300     Reaffirmed
* includes sub limit of Rs 50 million of working capital demand loan; to meet the peak
requirement, 
CC limits will be temporarily enhanced once in a month by Rs 80 million for 3 days and twice 
in a month by Rs 30 million. After 3 days the CC limits will be reinstated to Rs 120 million
Parekh Integrated Services Pvt Ltd    Proposed LT Bk     CRISIL BBB+    8.5     Reaffirmed
                                      Loan Fac
Plasto Manufacturing Co.              CC                 CRISIL B+      20      Reaffirmed
Plasto Manufacturing Co.              TL                 CRISIL B+      15      Reaffirmed
Rama Pulp and Papers Ltd              CC*                CRISIL BBB     100     Reaffirmed
*Interchangeable with LC limit of Rs. 20 million, packing credit limit of Rs. 10 million and 
Foreign Bill Discounting limit of Rs. 10 million. 
Rama Pulp and Papers Ltd              Proposed LT Bk     CRISIL BBB     18      Reaffirmed
                                      Loan Fac
RDC Motor Pvt Ltd                     WC Demand Loan     CRISIL B       17.5    Assigned
RDC Motor Pvt Ltd                     CC                 CRISIL B       80      Assigned
RDC Motor Pvt Ltd                     Proposed TL        CRISIL B       2.5     Assigned
Sai Rydam Realtors Pvt Ltd            Proposed LT Bk     CRISIL B+      5000    Assigned
                                      Loan Fac
Shakti Hormann Pvt Ltd                CC                 CRISIL BBB+    30      Reaffirmed
Shakti Hormann Pvt Ltd                Proposed LT Bk     CRISIL BBB+    225.4   Reaffirmed
                                      Loan Fac
Shree Ajay International Pvt Ltd      CC**               CRISIL B+      70      Reaffirmed
** includes a sub-limit of Rs.80 Million export packing credit 
Shree Balaji Ethnicity Retail Ltd     CC                 CRISIL B+      110     Reaffirmed
Shree Balaji Ethnicity Retail Ltd     Proposed CC Limit  CRISIL B+      70      Reaffirmed
Shree Balaji Ethnicity Retail Ltd     Proposed LT Bk     CRISIL B+      56.4    Reaffirmed
                                      Loan Fac
Shree Balaji Ethnicity Retail Ltd     TL                 CRISIL B+      63.6    Reaffirmed
Shri Raj Jewels                       Export Packing     CRISIL BB-     50      Reaffirmed
                                      Credit
Shri Raj Jewels                       Packing Credit     CRISIL BB-     108     Reaffirmed
Shri Raj Jewels                       Post Shipment      CRISIL BB-     272     Reaffirmed
                                      Credit
Shri Raj Jewels                       Pre Shipment CreditCRISIL BB-     60      Reaffirmed
Sidhivinayak Builthome Specialties PvtTL                 CRISIL BB-     140     Reaffirmed
Ltd
SMPC Industries India Pvt Ltd         Proposed LT Bk     CRISIL B       100     Assigned
                                      Loan Fac
Sri Manmaya Textiles Pvt Ltd          CC                 CRISIL BB      7.5     Reaffirmed
Sri Manmaya Textiles Pvt Ltd          LT Loan            CRISIL BB      42      Reaffirmed
Sumetco Alloys Pvt Ltd                CC                 CRISIL B       100     Assigned
Sumetco Alloys Pvt Ltd                Proposed CC Limit  CRISIL B       20      Assigned
Sweety Infrastructure Pvt Ltd         CC / Overdraft Fac CRISIL BB      30      Reaffirmed
The True Sai Works                    CC                 CRISIL BB      95      Reaffirmed
Toyota Financial Services India Ltd   Non - Convertible  CRISIL AAA     6000    Reaffirmed
                                      Debentures
Toyota Financial Services India Ltd   Non - Convertible  CRISIL AAA     3000    Assigned
                                      Debenture Issue
Venketeswar Educational Trust         CC                 CRISIL BB-     10      Upgraded from
                                                                                CRISIL B+
Venketeswar Educational Trust         TL                 CRISIL BB-     54.9    Upgraded from
                                                                                CRISIL B+
Visual Technologies India Pvt Ltd     CC                 CRISIL BBB-    72.5    Reaffirmed
Vitrag Construction Co.               CC                 CRISIL BB      5       Reaffirmed
Vitrag Construction Co.               Proposed LT Bk     CRISIL BB      150     Reaffirmed
                                      Loan Fac
Yash Jewellery Pvt Ltd                Corporate Loan     CRISIL D       1193    Reaffirmed
Yash Jewellery Pvt Ltd                WC Demand Loan     CRISIL D       417.7   Reaffirmed


--------------------------------------------------------------------------------------------
$: 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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