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CRISIL ratings for Indian debt instruments-Oct 12
October 12, 2016 / 4:16 AM / a year ago

CRISIL ratings for Indian debt instruments-Oct 12

Oct 12 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of October 10, 2016.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Axis Bank Ltd                           CD                 CRISIL A1+     350000  Reaffirmed
BLR Logistiks India Ltd                 BG                 CRISIL A3+     135     Reaffirmed
BP Sangle Constructions Pvt Ltd         BG                 CRISIL A3      200     Reaffirmed
Brightway Contractors and Developers    BG                 CRISIL A4      23      Reaffirmed
Chandra Cashew Imports and Exports Pvt  Bill Discounting   CRISIL A4+     40      Reaffirmed
Ltd
Chandra Cashew Imports and Exports Pvt  Packing Credit     CRISIL A4+     200     Reaffirmed
Ltd
Corrosion Engineers Pvt Ltd             LOC                CRISIL D       80      Downgraded
                                                                                  from CRISIL A4
Emerald Industries                      BG                 CRISIL A4+     125     Upgraded from
                                                                                  CRISIL A4+
Fitex Industries Ltd                    LOC                CRISIL A4+     30      Reaffirmed
International Cylinders Pvt Ltd         BG                 CRISIL A3+     75      Upgraded from
                                                                                  CRISIL A3
Jaipan Industries Ltd                   LOC                CRISIL A4+     20      Notice of
                                                                                  Withdrawal
Konark Polytubes Pvt Ltd                BG                 CRISIL A4      5       Reaffirmed
Malnad Alloy Castings Pvt Ltd           BG                 CRISIL A4+     10      Reaffirmed
Malnad Alloy Castings Pvt Ltd           Cheque Purchase    CRISIL A4+     7.5     Reaffirmed
Malnad Alloy Castings Pvt Ltd           LOC Bill           CRISIL A4+     5       Reaffirmed
                                        Discounting
Malnad Alloy Castings Pvt Ltd           Packing Credit     CRISIL A4+     20      Reaffirmed
Malnad Alloy Castings Pvt Ltd           Post Shipment      CRISIL A4+     10      Reaffirmed
                                        Credit
Mercury Laboratories Ltd                BG                 CRISIL A4+     7.5     Reaffirmed
Mercury Laboratories Ltd                LOC                CRISIL A4+     7.5     Reaffirmed
Mercury Laboratories Ltd                Standby Line of    CRISIL A4+     5       Reaffirmed
                                        Credit
Metro Telworks Pvt Ltd                  BG                 CRISIL A3      130     Downgraded
                                                                                  from CRISIL A3
Metro Telworks Pvt Ltd                  Standby Letter of  CRISIL A3      4.8     Downgraded
                                        Comfort                                   from CRISIL A3
Mittapalli Agro Exports                 Packing Credit     CRISIL A4+     110     Reaffirmed
Nitte Education Trust                   BG                 CRISIL A1      102     Reaffirmed
Nitte Education Trust                   LOC                CRISIL A1      100     Reaffirmed
Satya Exports                           BG                 CRISIL A4+     10      Assigned
Sino Import and Exports Pvt Ltd         LOC                CRISIL A4+     340     Reaffirmed
Suraj Impex India Pvt Ltd               Bill Purchase -    CRISIL A4+     900     Downgraded
                                        Discounting Fac                           from CRISIL
                                                                                  A3+
Suraj Impex India Pvt Ltd               Export Packing     CRISIL A4+     2000    Downgraded
                                        Credit                                    from CRISIL
                                                                                  A3+
U. P. Twiga Fiberglass Ltd              BG                 CRISIL A1      10      Upgraded from
                                                                                  CRISIL A2+
U. P. Twiga Fiberglass Ltd              LOC                CRISIL A1      45      Upgraded from
                                                                                  CRISIL A2+
UltraTech Cement Ltd                    NCDs               CRISIL A1+     25000   #
Vrep Construction and Consultants Pvt   BG                 CRISIL A4+     45      Assigned
Ltd

LONG TERM RATINGS:
-------------------
Axis Bank Ltd                            Infrastructure    CRISIL AAA     32050   Assigned
                                        Bonds
Axis Bank Ltd                            Tier II Bonds     CRISIL AAA     20000   Reaffirmed
                                        Issue (Under Basel
                                        III)
Axis Bank Ltd                            Tier II Bonds     CRISIL AAA     25000   Reaffirmed
                                        Issue (Under Basel
                                        III)
Axis Bank Ltd                            Tier II Bonds     CRISIL AAA     8500    Reaffirmed
                                        Issue (Under Basel
                                        III)
Axis Bank Ltd                           Infrastructure     CRISIL AAA     50000   Reaffirmed
                                        Bonds Issue
Axis Bank Ltd                           Infrastructure     CRISIL AAA     60000   Reaffirmed
                                        Bonds Issue
Bhagwan Precision Pvt Ltd               CC                 CRISIL B-      42.7    Reaffirmed
Bhagwan Precision Pvt Ltd               TL                 CRISIL B-      54      Reaffirmed
BLR Logistiks India Ltd                 CC                 CRISIL BBB     615     Reaffirmed
BLR Logistiks India Ltd                 Proposed LT Bk     CRISIL BBB     75      Reaffirmed
                                        Loan Fac
BLR Logistiks India Ltd                 TL                 CRISIL BBB     20      Reaffirmed
BP Sangle Constructions Pvt Ltd         CC                 CRISIL BBB-    150     Reaffirmed
Brightway Contractors and Developers    CC                 CRISIL B       15      Reaffirmed
Brightway Contractors and Developers    WC Demand Loan     CRISIL B       25      Reaffirmed
Celebrity Biopharma Ltd                 CC                 CRISIL BBB-    82.5    Reaffirmed
Celebrity Biopharma Ltd                 LT Loan            CRISIL BBB-    60      Reaffirmed
Cordon Constructors & Realtors Pvt Ltd  Project Loan       CRISIL BB      50      Reaffirmed
Corrosion Engineers Pvt Ltd             CC                 CRISIL D       30      Downgraded
                                                                                  from CRISIL B-
Emerald Industries                      CC                 CRISIL BB-     85      Upgraded from
                                                                                  CRISIL B+
Emerald Industries                      Proposed LT Bk     CRISIL BB-     90      Upgraded from
                                        Loan Fac                                  CRISIL B+
Fitex Industries Ltd                    CC                 CRISIL BB-     160     Reaffirmed
Fitex Industries Ltd                    LOC*               CRISIL BB-     40      Reaffirmed
*Interchangeability with CC facility
Fitex Industries Ltd                    Proposed LT Bk     CRISIL BB-     10      Reaffirmed
                                        Loan Fac
Himalayiya Ayurvedic Yog Evam Prakartik LT Loan            CRISIL B+      85      Reaffirmed
Chikitsa Sansthan
International Cylinders Pvt Ltd         CC                 CRISIL BBB     65      Upgraded from
                                                                                  CRISIL BBB-
International Cylinders Pvt Ltd         Proposed BG        CRISIL BBB     75      Upgraded from
                                                                                  CRISIL BBB-
Jaipan Industries Ltd                   CC                 CRISIL BB-     70      Notice of
                                                                                  Withdrawal
Jaipan Industries Ltd                   Proposed LT Bk     CRISIL BB-     10      Notice of
                                        Loan Fac                                  Withdrawal
Joshi Cotex                             CC                 CRISIL B+      60      Reaffirmed
Joshi Cotex                             TL                 CRISIL B+      20      Reaffirmed
Kalpataruvu Spinning Mills Ltd          CC                 CRISIL BB-     300     Reaffirmed
Kalpataruvu Spinning Mills Ltd          LT Loan            CRISIL BB-     60      Reaffirmed
Kalpataruvu Spinning Mills Ltd          TL                 CRISIL BB-     250     Reaffirmed
Konark Polytubes Pvt Ltd                CC                 CRISIL B+      80      Reaffirmed
Konark Polytubes Pvt Ltd                Proposed LT Bk     CRISIL B+      5.4     Reaffirmed
                                        Loan Fac
Laxmi Balaji Cotton Industries          CC                 CRISIL B+      66      Assigned
Laxmi Balaji Cotton Industries          TL                 CRISIL B+      34      Assigned
M. P Singh Foundation                   Overdraft Fac      CRISIL BB-     20      Reaffirmed
M. P Singh Foundation                   TL                 CRISIL BB-     105     Reaffirmed
Malnad Alloy Castings Pvt Ltd           Bill Discounting   CRISIL BB      65      Reaffirmed
Malnad Alloy Castings Pvt Ltd           CC                 CRISIL BB      55      Reaffirmed
Malnad Alloy Castings Pvt Ltd           Overdraft Fac      CRISIL BB      30      Reaffirmed
Malnad Alloy Castings Pvt Ltd           Proposed LT Bk     CRISIL BB      37.5    Reaffirmed
                                        Loan Fac
Malnad Alloy Castings Pvt Ltd           TL                 CRISIL BB      50      Reaffirmed
Mercury Laboratories Ltd                CC                 CRISIL BB+     60      Reaffirmed
Mercury Laboratories Ltd                Proposed LT Bk     CRISIL BB+     32.9    Reaffirmed
                                        Loan Fac
Mercury Laboratories Ltd                TL                 CRISIL BB+     14.6    Reaffirmed
Metro Telworks Pvt Ltd                  CC                 CRISIL BBB-    60      Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Metro Telworks Pvt Ltd                  Standby Letter of  CRISIL BBB-    120     Downgraded
                                        Comfort                                   from CRISIL
                                                                                  BBB
Metro Telworks Pvt Ltd                  TL                 CRISIL BBB-    35.2    Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Mittapalli Agro Exports                 CC                 CRISIL BB-     40      Reaffirmed
Mittapalli Agro Exports                 Proposed LT Bk     CRISIL BB-     20      Reaffirmed
                                        Loan Fac
Nitte Education Trust                   Overdraft Fac      CRISIL A+      300     Reaffirmed
Nitte Education Trust                   Proposed LT Bk     CRISIL A+      262     Reaffirmed
                                        Loan Fac
Om Chicks India Pvt Ltd                 CC                 CRISIL BB      100     Assigned
Om Chicks India Pvt Ltd                 TL                 CRISIL BB      57      Assigned
Prime Hitech Engineering Ltd            BG                 CRISIL D       90      Assigned
Prime Hitech Engineering Ltd            CC                 CRISIL D       112     Assigned
Prime Hitech Engineering Ltd            LOC                CRISIL D       140     Assigned
Prime Hitech Engineering Ltd            TL                 CRISIL D       733     Assigned
Raj Vehicles Mohali                     CC                 CRISIL BB-     100     Assigned
Raj Vehicles Mohali                     Inventory Funding  CRISIL BB-     30      Assigned
                                        Fac
Ratnesh Ispat Services Pvt Ltd          CC                 CRISIL BB+     135     Reaffirmed
Ratnesh Ispat Services Pvt Ltd          TL                 CRISIL BB+     52.5    Reaffirmed
RD Brown Box Packaging Pvt Ltd          Cash TL            CRISIL B       80      Reaffirmed
RD Brown Box Packaging Pvt Ltd          LT Bk Fac          CRISIL B       135     Reaffirmed
RD Brown Box Packaging Pvt Ltd          Overdraft Fac      CRISIL B       35      Reaffirmed
Reliance Infrastructure Ltd             Proposed LT Bk     CRISIL A-      10000   Reaffirmed
                                        Loan Fac
S.L. Group and Associates               TL                 CRISIL B       195     Assigned
Sachin Finecot Fibers                   CC                 CRISIL B+      77.5    Reaffirmed
Sachin Finecot Fibers                   Proposed LT Bk     CRISIL B+      0.8     Reaffirmed
                                        Loan Fac
Sachin Finecot Fibers                   TL                 CRISIL B+      21.1    Reaffirmed
Salma Export Import Agency              Bill Discounting   CRISIL BB-     20      Reaffirmed
Salma Export Import Agency              Buyer Credit Limit CRISIL BB-     65      Reaffirmed
Salma Export Import Agency              CC                 CRISIL BB-     15      Reaffirmed
Satya Exports                           Standby Line of    CRISIL BB-     5       Assigned
                                        Credit
Satya Exports                           LT Loan            CRISIL BB-     5       Assigned
Satya Exports                           Export Packing     CRISIL BB-     70      Assigned
                                        Credit
Satya Exports                           CC                 CRISIL BB-     50      Assigned
Shree Additives (Pharma and Foods) Pvt  CC                 CRISIL BB+     80      Reaffirmed
Ltd
Shree Additives (Pharma and Foods) Pvt  TL                 CRISIL BB+     19.5    Reaffirmed
Ltd
Sino Import and Exports Pvt Ltd         Overdraft Fac      CRISIL BB+     40      Reaffirmed
Sino Import and Exports Pvt Ltd         Proposed LT Bk     CRISIL BB+     420     Reaffirmed
                                        Loan Fac
Sri Onkar Cotton Agro Industries        CC                 CRISIL B       74      Reaffirmed
Swastik Cotex                           CC                 CRISIL B+      100     Reaffirmed
Tiara Jewels Pvt Ltd                    CC                 CRISIL B+      120     Reaffirmed
Tiara Jewels Pvt Ltd                    Proposed LT Bk     CRISIL B+      30      Reaffirmed
                                        Loan Fac
U. P. Twiga Fiberglass Ltd              CC                 CRISIL A       100     Upgraded from
                                                                                  CRISIL A-
U. P. Twiga Fiberglass Ltd              Proposed LT Bk     CRISIL A       239     Upgraded from
                                        Loan Fac                                  CRISIL A-
UltraTech Cement Ltd                    NCDs               CRISIL AAA     3000    #
UltraTech Cement Ltd                    NCDs               CRISIL AAA     5000    #
UltraTech Cement Ltd                    NCDs               CRISIL AAA     1750    #
UltraTech Cement Ltd                    NCDs               CRISIL AAA     2500    #
UltraTech Cement Ltd                    NCDs               CRISIL AAA     3000    #
UltraTech Cement Ltd                    NCDs               CRISIL AAA     2000    #
UltraTech Cement Ltd                    NCDs               CRISIL AAA     2000    #
UltraTech Cement Ltd                    NCDs               CRISIL AAA     2500    #
UltraTech Cement Ltd                    NCDs               CRISIL AAA     2500    #
UltraTech Cement Ltd                    NCDs               CRISIL AAA     5000    #
UltraTech Cement Ltd                    NCDs               CRISIL AAA     2500    #
Vrep Construction and Consultants Pvt   CC                 CRISIL BB-     5       Assigned
Ltd
--------------------------------------------------------------------------------------------
$: 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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