March 9, 2016 / 5:53 AM / a year ago

CRISIL ratings for Indian debt instruments-Mar 9

Mar 9 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 8, 2016.

COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Associated Lighting Company             LOC                CRISIL A4+     60      Assigned
BC Power Controls Ltd                   BG                 CRISIL A4+     10      Reaffirmed
BC Power Controls Ltd                   Foreign Bill       CRISIL A4+     100     Reaffirmed
                                        Purchase
BC Power Controls Ltd                   Packing Credit     CRISIL A4+     95      Reaffirmed
BMR Industries Pvt Ltd                  LOC                CRISIL A4+     25      Reaffirmed
CBS Technologies Pvt Ltd                BG                 CRISIL A4      20      Assigned
Christ Nishotech Water Systems Pvt Ltd  Non-FBL            CRISIL A4+     120     Reaffirmed
Eagle Infra India Ltd                   BG                 CRISIL A4+     1750    Downgraded
                                                                                  from CRISIL A3
Enayat Overseas                         Foreign Bill       CRISIL A4+     270     Reaffirmed
                                        Purchase
Encana International                    Foreign LOC        CRISIL A4      35      Assigned
ESGI Garments Pvt Ltd                   Foreign Bill       CRISIL A4      90      Reaffirmed
                                        Purchase
ESGI Garments Pvt Ltd                   Proposed ST Bk     CRISIL A4      17      Reaffirmed
                                        Loan Fac
Hindustan Platinum Pvt Ltd              BG@                CRISIL A1      2460    Reaffirmed
@ Includes Rs.1650 million as sublimit for foreign guarantee
Ma Chandi Rice Mill                     BG                 CRISIL A4+     2.5     Assigned
Manjushri Construction Company          BG                 CRISIL A4+     83.1    Reaffirmed
Manjushri Construction Company          Overdraft Fac      CRISIL A4+     26.9    Reaffirmed
Masibus Automation and Instrumentation  BG                 CRISIL A4+     70      Reaffirmed
Pvt Ltd
MRK Healthcare Pvt Ltd                  BG                 CRISIL A3      20      Reaffirmed
MRK Healthcare Pvt Ltd                  LOC                CRISIL A3      142.5   Reaffirmed
Priti Construction                      BG                 CRISIL A4+     150     Reaffirmed
Priti Construction                      Proposed ST Bk     CRISIL A4+     50      Reaffirmed
                                        Loan Fac
R.N.Gupta and Co. Ltd                   BG                 CRISIL A4+     26.2    Reaffirmed
R.N.Gupta and Co. Ltd                   LOC*               CRISIL A4+     50      Reaffirmed
*Interchangeable with packing credit up to Rs.25 million
R.N.Gupta and Co. Ltd                   Packing Credit in  CRISIL A4+     230     Reaffirmed
                                        Foreign Currency#
#Fully interchangeable with foreign bill purchase
RPS Infraprojects Pvt Ltd               BG                 CRISIL A3+     2000    Reaffirmed
Saket Infraprojects Ltd                 BG                 CRISIL A3      200     Reaffirmed
Shah and Parikh                         BG                 CRISIL A4+     150     Reaffirmed
Shree Bharat International Pvt Ltd      Foreign Bill       CRISIL A2      70      Reaffirmed
                                        Discounting
Shree Bharat International Pvt Ltd      Overdraft Fac      CRISIL A2      10      Reaffirmed
Shree Bharat International Pvt Ltd      Packing Credit     CRISIL A2      70      Reaffirmed
Sikkim Organics                         BG                 CRISIL A4+     30.9    Reaffirmed
Speco Infrastructure                    BG                 CRISIL A4+     170     Reaffirmed
Sri Aishwarya Refinery Pvt Ltd          LOC                CRISIL A4+     90      Reaffirmed
Standard Chartered Investments and      ST Debt            CRISIL A1+     10000   Reaffirmed
Loans India Ltd
Sunrise Process Equipments              Letter Of GuaranteeCRISIL A4      17.5    Reaffirmed
Sunrise Process Equipments              LOC                CRISIL A4      17.5    Reaffirmed
Sunrise Process Equipments              Packing Credit     CRISIL A4      2.5     Reaffirmed
Suresh Productions Pvt Ltd              BG                 CRISIL A4+     13      Reaffirmed
Varuna Integrated Logistics Pvt Ltd     Overdraft Fac      CRISIL A2      5.5     Assigned
Varuna Integrated Logistics Pvt Ltd     BG                 CRISIL A2      12.5    Assigned

LONG TERM RATINGS:
-------------------
Associated Lighting Company             Export Packing     CRISIL BB-     90      Assigned
                                        Credit
BC Power Controls Ltd                   CC                 CRISIL BB      25      Reaffirmed
BC Power Controls Ltd                   Proposed FB Bk     CRISIL BB      20      Reaffirmed
                                        Limits
Bihani Enterprises                      CC                 CRISIL B+      110     Assigned
BMR Industries Pvt Ltd                  CC                 CRISIL BB+     15      Upgraded from
                                                                                  CRISIL BB-
BMR Industries Pvt Ltd                  Export Packing     CRISIL BB+     270     Upgraded from
                                        Credit                                    CRISIL BB-
BMR Industries Pvt Ltd                  Proposed LT Bk     CRISIL BB+     280     Upgraded from
                                        Loan Fac                                  CRISIL BB-
BMR Industries Pvt Ltd                  Rupee TL           CRISIL BB+     190     Assigned
BMR Industries Pvt Ltd                  Proposed WC Fac    CRISIL BB+     220     Assigned
CBS Technologies Pvt Ltd                TL                 CRISIL B+      6       Assigned
CBS Technologies Pvt Ltd                Proposed LT Bk     CRISIL B+      1.5     Assigned
                                        Loan Fac
CBS Technologies Pvt Ltd                CC                 CRISIL B+      32.5    Assigned
Christ Nishotech Water Systems Pvt Ltd  FB Fac             CRISIL BB      50      Reaffirmed
D C Metals                              CC                 CRISIL D       300     Downgraded
                                                                                  from CRISIL B
Eagle Infra India Ltd                   CC                 CRISIL BB+     750     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Eagle Infra India Ltd                   Proposed CC Limit  CRISIL BB+     1000    Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
EMF Microloans Pool - Series VII -      Series A PTCs      CRISIL A- (SO)         Provisional
Enayat Overseas                         TL                 CRISIL BB+     75.9    Reaffirmed

Encana International                    CC                 CRISIL B       15      Assigned
ESGI Garments Pvt Ltd                   CC                 CRISIL B+      7       Reaffirmed
ESGI Garments Pvt Ltd                   Packing Credit     CRISIL B+      80      Reaffirmed
ESGI Garments Pvt Ltd                   TL                 CRISIL B+      9       Assigned
Genesis Luxury Fashion Pvt Ltd          CC                 CRISIL BBB     320     Reaffirmed
Hindustan Institute of Technology and   CC                 CRISIL BBB+    300     Reaffirmed
Science
Hindustan Institute of Technology and   LT Loan            CRISIL BBB+    245     Reaffirmed
Science
Hindustan Platinum Pvt Ltd              BG*                CRISIL A       1250    Reaffirmed
*Fully interchangeable with fund-based facility
Hindustan Platinum Pvt Ltd              CC^$               CRISIL A       1440    Reaffirmed
^Interchangeable with non-fund based facility to the extent of Rs.300 million; $ Includes Rs.240
million as a sublimit for non-fund based facility
Hindustan Platinum Pvt Ltd              Standby LOC#       CRISIL A       734     Reaffirmed
#Commercial standby letter of credit for metal loan for USD 15 million fully interchangeable
with fund-based facility
Inesh Realtors Pvt Ltd                  NCD                CRISIL BB      2500    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Infiniti Software Solutions Pvt Ltd     Proposed CC /      CRISIL BB      10      Assigned
                                        Bills Discounting
                                        Limit
Infiniti Software Solutions Pvt Ltd     Bill Discounting   CRISIL BB      30      Assigned
Infiniti Software Solutions Pvt Ltd     CC                 CRISIL BB      70      Assigned
Jagmohan Motors Ltd                     CC                 CRISIL BBB-    250     Negative
                                                                                  Implications
Jagmohan Motors Ltd                     Channel Financing  CRISIL BBB-    95      Negative
                                                                                  Implications
Jagmohan Motors Ltd                     Proposed LT Bk     CRISIL BBB-    5       Negative
                                        Loan Fac                                  Implications
L&T-Mhps Boilers Pvt Ltd                BG^^               CRISIL AA-     20000   Reaffirmed
^^Interchangeable with Letter of Credit (LC) to the extent of Rs. 2.00 billion, financial
guarantee to the extent of Rs. 5.00 billion, cash credit to the extent of Rs. 1.50 billion, and
Letter of Undertaking to the extent of Rs. 1.00 billion within the LC limit
L&T-Mhps Boilers Pvt Ltd                BG~                CRISIL AA-     9000    Reaffirmed
~ Can be used as financial bank guarantee to the extent of Rs.3.00 billion, letter of credit to
the extent of Rs.8.00 billion and letter of undertaking for buyer's credit to the extent of
Rs.5.00 billion
L&T-Mhps Boilers Pvt Ltd                BG#                CRISIL AA-     5000    Reaffirmed
# Fully Interchangeable with letter of credit
L&T-Mhps Boilers Pvt Ltd                Buyer Credit Limit CRISIL AA-     543.5   Reaffirmed
L&T-Mhps Boilers Pvt Ltd                Export Finance     CRISIL AA-     160     Reaffirmed
                                        Limit****
**** Can be used as letter of credit/buyer's credit
L&T-Mhps Boilers Pvt Ltd                LOC##              CRISIL AA-     2000    Reaffirmed
## Can be used as short-term loan/overdraft/export finance/letter of guarantee up to Rs.1.00
billion
L&T-Mhps Boilers Pvt Ltd                LOC*               CRISIL AA-     5000    Reaffirmed
* Interchangeable with bank guarantee to the extent Rs.3.00 billion, buyer's credit to the
extent Rs.1.50 billion, short-term loan (STL)/working capital demand loan (WCDL)/sales bills
discounting (SBD)/purchase bills discounting (PBD) to the extent Rs.0.50 billion, cash credit
(CC)/overdraft (OD) to the extent Rs.0.25 billion. However, aggregate value of fund-based
facility should not exceed Rs.1 billion and aggregate value of CC, OD, STL, and WCDL should not
exceed Rs.0.50 billion.
L&T-Mhps Boilers Pvt Ltd                LOC$$              CRISIL AA-     2500    Reaffirmed
$$ Can be used as bank guarantee / buyer's credit up to Rs.2.50 billion.
L&T-Mhps Boilers Pvt Ltd                Overdraft Fac**    CRISIL AA-     1000    Reaffirmed
**Fully interchangeable with short-term loan and cash credit
L&T-Mhps Boilers Pvt Ltd                Overdraft Fac!!    CRISIL AA-     1500    Reaffirmed
!! Can be used as letter of credit/buyer's credit/export post-shipment credit/ Bank Guarantee
and export packing credit up to Rs.1.50 billion
L&T-Mhps Boilers Pvt Ltd                Proposed LT Bk     CRISIL AA-     3296.5  Reaffirmed
                                        Loan Fac
Ma Chandi Rice Mill                     TL                 CRISIL BB-     9.7     Assigned
Ma Chandi Rice Mill                     Proposed LT Bk     CRISIL BB-     4.8     Assigned
                                        Loan Fac
Ma Chandi Rice Mill                     CC - Book Debt     CRISIL BB-     13      Assigned
Ma Chandi Rice Mill                     CC                 CRISIL BB-     50      Assigned
Mahadev Iron and Steel Pvt Ltd          CC                 CRISIL B-      50      Assigned
Mahadev Iron and Steel Pvt Ltd          TL                 CRISIL B-      9.4     Assigned
Mahenju Textiles Pvt Ltd                CC                 CRISIL B+      40      Reaffirmed
Mahenju Textiles Pvt Ltd                Proposed LT Bk     CRISIL B+      37      Reaffirmed
                                        Loan Fac
Mahenju Textiles Pvt Ltd                TL                 CRISIL B+      23      Reaffirmed
Maniyar Refinery Pvt Ltd                CC                 CRISIL BB+     80      Reaffirmed
Maniyar Refinery Pvt Ltd                Proposed LT Bk     CRISIL BB+     20      Reaffirmed
                                        Loan Fac
Manjushri Construction Company          CC                 CRISIL BB+     40      Reaffirmed
Masibus Automation and Instrumentation  Bill Discounting   CRISIL BB+     10      Reaffirmed
Pvt Ltd
Masibus Automation and Instrumentation  CC                 CRISIL BB+     60      Reaffirmed
Pvt Ltd
Masibus Automation and Instrumentation  Proposed LT Bk     CRISIL BB+     89.4    Reaffirmed
Pvt Ltd                                 Loan Fac
Masibus Automation and Instrumentation  TL                 CRISIL BB+     15.6    Reaffirmed
Pvt Ltd
MRK Healthcare Pvt Ltd                  CC                 CRISIL BBB-    102.5   Reaffirmed
New - Tech Steel and Alloys Pvt Ltd     CC                 CRISIL D       250     Reaffirmed
New - Tech Steel and Alloys Pvt Ltd     Inland/Import LOC  CRISIL D       50      Reaffirmed
New - Tech Steel and Alloys Pvt Ltd     Proposed LT Bk     CRISIL D       0.8     Reaffirmed
                                        Loan Fac
New - Tech Steel and Alloys Pvt Ltd     TL                 CRISIL D       104.2   Reaffirmed
Pac Bio Fungbact Pvt Ltd                CC                 CRISIL D       50      Assigned
Pac Bio Fungbact Pvt Ltd                TL                 CRISIL D       43.3    Assigned
Pragati Sahayog Development Services    CC                 CRISIL B       50      Reaffirmed
R.N.Gupta and Co. Ltd                   CC                 CRISIL BB+     80      Reaffirmed
R.N.Gupta and Co. Ltd                   Credit Limit Under CRISIL BB+     46      Reaffirmed
                                        Gold Card
R.N.Gupta and Co. Ltd                   Proposed LT Bk     CRISIL BB+     337.3   Reaffirmed
                                        Loan Fac

R.N.Gupta and Co. Ltd                   TL                 CRISIL BB+     234.6   Reaffirmed
RCH Orthopaedics                        Proposed LT Bk     CRISIL B+      6.5     Assigned
                                        Loan Fac
RCH Orthopaedics                        CC                 CRISIL B+      15      Assigned
RCH Orthopaedics                        LT Loan            CRISIL B+      38.5    Assigned
RPS Infraprojects Pvt Ltd               CC                 CRISIL BBB     200     Reaffirmed
Saket Infraprojects Ltd                 CC                 CRISIL BBB-    200     Reaffirmed
Shah and Parikh                         Overdraft Fac      CRISIL BB      50      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Shree Bharat International Pvt Ltd      Proposed LT Bk     CRISIL BBB+    49.9    Reaffirmed
                                        Loan Fac
Shreya Life Sciences Pvt Ltd            CC                 CRISIL D       735     Reaffirmed
Shreya Life Sciences Pvt Ltd            LOC                CRISIL D       325     Reaffirmed
Shreya Life Sciences Pvt Ltd            Proposed LT Bk     CRISIL D       630.5   Reaffirmed
                                        Loan Fac
Shreya Life Sciences Pvt Ltd            Standby Line of    CRISIL D       50      Reaffirmed
                                        Credit
Shreya Life Sciences Pvt Ltd            TL                 CRISIL D       119.5   Reaffirmed
Shreya Life Sciences Pvt Ltd            WC Demand Loan     CRISIL D       40      Reaffirmed
Sikkim Organics                         CC                 CRISIL BB-     120     Reaffirmed
Speco Infrastructure                    CC                 CRISIL BB      30      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Sri Aishwarya Refinery Pvt Ltd          Proposed LT Bk     CRISIL BB+     0.2     Assigned
                                        Loan Fac
Standard Chartered Investments and      NCD                CRISIL AA+     5000    Negative
Loans India Ltd                                                                   Implications
Standard Chartered Investments and      Equity Linked      CRISIL PP- MLD 10000   Negative
Loans India Ltd                         Debentures         AA+r                   Implications
Sunrise Process Equipments              CC                 CRISIL B       30      Reaffirmed
Sunrise Process Equipments              Proposed LT Bk     CRISIL B       23.1    Reaffirmed
                                        Loan Fac
Sunrise Process Equipments              TL                 CRISIL B       9.4     Reaffirmed
Suresh Productions Pvt Ltd              Overdraft Fac      CRISIL BB+     99.5    Reaffirmed
U4iC International Pvt Ltd              Proposed CC Limit  CRISIL BBB+    50      Assigned
U4iC International Pvt Ltd              Bill Discounting   CRISIL BBB+    25      Assigned
U4iC International Pvt Ltd              CC                 CRISIL BBB+    25      Assigned
Varuna Integrated Logistics Pvt Ltd     TL                 CRISIL BBB+    494.2   Assigned
Varuna Integrated Logistics Pvt Ltd     CC & WC demand loanCRISIL BBB+    297.8   Assigned
Vatika Tracom Pvt Ltd                   CC                 CRISIL B+      80      Assigned
Vatika Tracom Pvt Ltd                   WC TL              CRISIL B+      15      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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