December 8, 2016 / 6:08 AM / in 8 months

CRISIL ratings for Indian debt instruments-Dec 8

25 Min Read

Dec 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 7, 2016.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Amol Pharmaceuticals Pvt Ltd            Bill Discounting   CRISIL A4+     70      Reaffirmed
Amol Pharmaceuticals Pvt Ltd            LOC                CRISIL A4+     100     Reaffirmed
Bajaj Finance Ltd                       ST Bk Fac          CRISIL A1+     2.75    Reaffirmed
Balwindra Tools Pvt Ltd                 Export Packing     CRISIL A4      62.5    Suspended
                                        Credit
BLS Ecotech Ltd                         LOC                CRISIL A3+     50      Raassigned
Cera Sanitaryware Ltd                   ST Debt (Including CRISIL A1+     300     Reaffirmed
                                        CP)
Cochin Veneers                          LOC                CRISIL A4      40      Assigned
Concept Shapers and Electronics Pvt Ltd BG                 CRISIL A4      50      Reaffirmed
Concept Shapers and Electronics Pvt Ltd LOC                CRISIL A4      50      Reaffirmed
Coromandel International Ltd            Buyer Credit Limit^CRISIL A1+     4000    Reaffirmed
^ Fully interchangeable with FB limits and Letter of credit & Bank Guarantee
Coromandel International Ltd            Buyer Credit Limit CRISIL A1+     6000    Reaffirmed
Coromandel International Ltd            LOC & BG^^         CRISIL A1+     2500    Reaffirmed
^^ Fully interchangeable with FB limits and Buyers Credit
Coromandel International Ltd            LOC & BG##         CRISIL A1+     7400    Reaffirmed
# Fully Interchangeable with LC & Buyers Credit limits
Coromandel International Ltd            LOC & BG*          CRISIL A1+     8000    Reaffirmed
* Interchangeable to Fund Based Facility upto Rs.1000 million
Coromandel International Ltd            LOC & BG           CRISIL A1+     18000   Reaffirmed
Coromandel International Ltd            LOC & BG*##        CRISIL A1+     2500    Reaffirmed
## Fully Interchangeable with Buyers Credit limits,* Interchangeable to Fund Based Facility upto
Rs.1000 million

Coromandel International Ltd            ST Loan            CRISIL A1+     2000    Reaffirmed
Hindustan Agro Products Pvt Ltd         LOC                CRISIL A4      6.9     Reaffirmed
IKM Investors Pvt Ltd                   BG*                CRISIL A2      650     Reaffirmed
* Interchangeable with short-term loan.
IKM Investors Pvt Ltd                   BG                 CRISIL A2      200     Reaffirmed
Jolly Spinning Mills Pvt Ltd            BG                 CRISIL A4+     25      Suspended
Kailash Overseas                        Inland/Import LOC  CRISIL A4      55      Suspended
Kajah Trading Pvt Ltd                   Overdraft Fac      CRISIL A4      50      Reaffirmed
Kuku Exports                            Bill Discounting   CRISIL A4      25      Suspended
Kuku Exports                            Export Packing     CRISIL A4      60      Suspended
                                        Credit
Kuntal Granites Pvt Ltd                 BG                 CRISIL A4      3       Downgraded
                                                                                  from CRISIL A4
Kuntal Granites Pvt Ltd                 LOC                CRISIL A4      15      Downgraded
                                                                                  from CRISIL A4
Landmark Engineer                       BG                 CRISIL A4+     100     Reaffirmed
Maheshwari Technocast Ltd               BG                 CRISIL A4      1       Suspended
Maheshwari Technocast Ltd               LOC                CRISIL A4      10      Suspended
Mobile Communications India Pvt Ltd     BG                 CRISIL A4+     170     Suspended
Nand Hospitality Pvt Ltd                BG                 CRISIL A4      6       Reaffirmed
Nash Robotics and Automation Pvt Ltd    BG                 CRISIL A4+     50      Suspended
Nash Robotics and Automation Pvt Ltd    LOC                CRISIL A4+     20      Suspended
Nekkanti Sea Foods Ltd                  BG                 CRISIL A2+     69      Reaffirmed
Nekkanti Sea Foods Ltd                  Import LOC Limit   CRISIL A2+     5       Reaffirmed
Nekkanti Sea Foods Ltd                  LOC                CRISIL A2+     5       Reaffirmed
P. D. Agarwal                           BG                 CRISIL A4+     200     Reaffirmed
Paulose George Construction Company Pvt BG                 CRISIL A4+     300     Reaffirmed
Ltd
R. H. Laboratories                      LOC & BG           CRISIL A4+     2.5     Suspended
Rashi Granite Exports India Pvt Ltd     BG*                CRISIL A4+     10      Suspended
*50 per cent two-way interchangeability between fund-based and non-fund-based limits
Rashi Granite Exports India Pvt Ltd     Foreign Exchange   CRISIL A4+     9.6     Suspended
                                        Forward
Rashi Granite Exports India Pvt Ltd     LOC*               CRISIL A4+     50      Suspended
*50 per cent two-way interchangeability between fund-based and non-fund-based limits
Rosata Vitrified Pvt Ltd                BG                 CRISIL A4      24      Assigned
Shiva Structures Pvt Ltd                BG                 CRISIL A4      60      Suspended
Shivshakti Construction Company         BG                 CRISIL A4+     19      Suspended
Sun Particle Board Pvt Ltd              BG                 CRISIL A4      5.5     Suspended
Sunder Overseas-Prop. Chandresh Finance BG                 CRISIL A4+     17.5    Suspended
Ltd.
Supreme Road Transport Pvt Ltd          Letter Of GuaranteeCRISIL A4+     30      Suspended
Thomas Cook India Ltd                   BG##               CRISIL A1+     2765    Reaffirmed
## Facility of Rs 1635 million interchangeable with letter of credit to the extent of Rs 250
million 
Thomas Cook India Ltd                   LOC^^              CRISIL A1+     1900    Reaffirmed
^^ Facility of Rs 350 million interchangeable with overdraft limit and bills discounting to the
extent of Rs 300 million and Rs 50 million, respectively; facility of Rs 1000 million
interchangeable with bank guarantee and post-shipment credit in foreign currency (PSFC) to the
extent of Rs 250 million
Thomas Cook India Ltd                   Overdraft Fac@     CRISIL A1+     1425    Reaffirmed
@ Facility of Rs 335 million equivalent of USD 5 million; facility of Rs 490 million
interchangeable with Letter of Credit to the extent of Rs 250 million; facility of Rs 500
million interchangeable with Letter of Credit
Utsah Engineering Pvt Ltd               BG                 CRISIL A3+     20      Reaffirmed
Utsah Engineering Pvt Ltd               LOC                CRISIL A3+     20      Reaffirmed

LONG TERM RATINGS:
-------------------
Amol Pharmaceuticals Pvt Ltd            CC                 CRISIL BB+     50      Reaffirmed
Amol Pharmaceuticals Pvt Ltd            Proposed LT Bk     CRISIL BB+     132.5   Reaffirmed
                                        Loan Fac
Arjun Enterprises Ltd                   CC                 CRISIL B+      37.5    Reaffirmed
Arjun Enterprises Ltd                   Proposed CC Limit  CRISIL B+      37.5    Notice of
                                                                                  Withdrawal
Asian Organo Industries                 CC                 CRISIL B+      70      Suspended
Asian Organo Industries                 Standby Line of    CRISIL B+      7.5     Suspended
                                        Credit
Asian Organo Industries                 TL                 CRISIL B+      8       Suspended

Bajaj Finance Ltd                       CC & WC demand loanCRISIL AAA     29.5    Reaffirmed
Bajaj Finance Ltd                       LT Bk Fac          CRISIL AAA     135.5804Reaffirmed
Bajaj Finance Ltd                       Proposed LT Bk     CRISIL AAA     42.1696 Reaffirmed
                                        Loan Fac
Balwindra Tools Pvt Ltd                 CC                 CRISIL B       10      Suspended
Balwindra Tools Pvt Ltd                 LT Loan            CRISIL B       14.7    Suspended
Balwindra Tools Pvt Ltd                 Proposed LT Bk     CRISIL B       16.3    Suspended
                                        Loan Fac
BLS Ecotech Ltd                         CC                 CRISIL BBB     500     Upgraded from
                                                                                  CRISIL BBB-
BLS Ecotech Ltd                         Proposed LT Bk     CRISIL BBB     15.8    Upgraded from
                                        Loan Fac                                  CRISIL BBB-
BLS Ecotech Ltd                         TL                 CRISIL BBB     784.2   Upgraded from
                                                                                  CRISIL BBB-
Cochin Veneers                          CC                 CRISIL B-      14      Assigned
Concept Shapers and Electronics Pvt Ltd CC                 CRISIL B+      50      Reaffirmed
Concept Shapers and Electronics Pvt Ltd LT Loan            CRISIL B+      28      Assigned
Coromandel International Ltd            CC@                CRISIL AA+     7500    Reaffirmed
@ Fully Interchangeable with Short Term Loan and one way interchangeable to NFB limits & Buyers
Credit
Coromandel International Ltd            CC$                CRISIL AA+     6500    Reaffirmed
$ Fully Interchangeable with Short Term Loan, NFB and BC limits
Coromandel International Ltd            CC#                CRISIL AA+     500     Reaffirmed
Coromandel International Ltd            CC%                CRISIL AA+     4700    Reaffirmed
% Fully Interchangeable with LC, BG, Short Term Loan and Buyers Credit
Coromandel International Ltd            Proposed FB Bk     CRISIL AA+     2400    Reaffirmed
                                        Limits
Eldee Motors                            CC                 CRISIL B+      37.5    Suspended
Eldee Motors                            Electronic Dealer  CRISIL B+      36.5    Suspended
                                        Financing
                                        Scheme(e-DFS)
Eldee Motors                            TL                 CRISIL B+      16      Suspended
Fortune Tire Tech Ltd                   CC                 CRISIL B+      17      Suspended
Fortune Tire Tech Ltd                   Proposed LT Bk     CRISIL B+      35.8    Suspended
                                        Loan Fac
Fortune Tire Tech Ltd                   Rupee TL           CRISIL B+      97.2    Suspended
H. K. Industries                        CC                 CRISIL B+      50      Notice of
                                                                                  Withdrawal
H. K. International                     CC                 CRISIL B+      45      Notice of
                                                                                  Withdrawal
H. K. International                     Proposed CC Limit  CRISIL B+      30      Notice of
                                                                                  Withdrawal
Hindustan Agro Products Pvt Ltd         CC                 CRISIL B+      80      Reaffirmed
Infinity Realty India Pvt Ltd           TL                 CRISIL BB-     100     Suspended
Jai Ambe Quality Sugar                  CC                 CRISIL B+      90      Reaffirmed
Jolly Spinning Mills Pvt Ltd            CC                 CRISIL BB-     30      Suspended
Jolly Spinning Mills Pvt Ltd            Proposed LT Bk     CRISIL BB-     3       Suspended
                                        Loan Fac
Jolly Spinning Mills Pvt Ltd            TL                 CRISIL BB-     438     Suspended
Kailash Overseas                        CC                 CRISIL B       25      Suspended
Kajah Trading Pvt Ltd                   Proposed LT Bk     CRISIL B+      5       Reaffirmed
                                        Loan Fac
Kedareshwar Fibers                      CC                 CRISIL BB-     72.5    Reaffirmed
Kedareshwar Fibers                      TL                 CRISIL BB-     12      Reaffirmed
KNS Infrastructure Pvt Ltd              LT Loan            CRISIL BB-     373.1   Suspended
Krishnaiah Motors Pvt Ltd               CC                 CRISIL BB-     100     Suspended
Krishnaiah Motors Pvt Ltd               Proposed LT Bk     CRISIL BB-     50      Suspended
                                        Loan Fac
Kuntal Granites Pvt Ltd                 Export Packing     CRISIL B+      170     Downgraded
                                        Credit                                    from CRISIL
                                                                                  BB-
Kuntal Granites Pvt Ltd                 Proposed LT Bk     CRISIL B+      18.7    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Kuntal Granites Pvt Ltd                 TL                 CRISIL B+      63.3    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Kwality Overseas Pvt Ltd                CC                 CRISIL BB      125     Suspended
Landmark Engineer                       CC                 CRISIL BB      30      Reaffirmed
Maheshwari Technocast Ltd               CC                 CRISIL B       30      Suspended
Maheshwari Technocast Ltd               TL                 CRISIL B       19      Suspended
Manav Sevarth Trust                     CC                 CRISIL BBB+    40      Suspended
Manav Sevarth Trust                     Proposed LT Bk     CRISIL BBB+    105.2   Suspended
                                        Loan Fac
Manav Sevarth Trust                     TL                 CRISIL BBB+    74.8    Suspended
Mobile Communications India Pvt Ltd     CC                 CRISIL BB      20      Suspended
Mobile Communications India Pvt Ltd     Proposed LT Bk     CRISIL BB      10      Suspended
                                        Loan Fac
Mother Industries                       CC                 CRISIL B       40      Reaffirmed
Mother Industries                       TL                 CRISIL B       50      Reaffirmed
Mother Industries                       CC                 CRISIL B       40      Reaffirmed
Mother Industries                       TL                 CRISIL B       50      Reaffirmed
Nand Hospitality Pvt Ltd                CC                 CRISIL B+      3.2     Reaffirmed
Nand Hospitality Pvt Ltd                Proposed LT Bk     CRISIL B+      1.3     Reaffirmed
                                        Loan Fac
Nand Hospitality Pvt Ltd                TL                 CRISIL B+      234.5   Reaffirmed
Narendra Emporis Ltd                    CC                 CRISIL BB      150     Assigned
Nash Robotics and Automation Pvt Ltd    CC                 CRISIL BB+     80      Suspended
Nash Robotics and Automation Pvt Ltd    Proposed LT Bk     CRISIL BB+     29.5    Suspended
                                        Loan Fac
Nash Robotics and Automation Pvt Ltd    TL                 CRISIL BB+     10.5    Suspended
Nekkanti Sea Foods Ltd                  CC                 CRISIL A-      250     Reaffirmed
Nekkanti Sea Foods Ltd                  Export Packing     CRISIL A-      1300    Reaffirmed
                                        Credit
Nekkanti Sea Foods Ltd                  Foreign LOC        CRISIL A-      121     Reaffirmed
Nekkanti Sea Foods Ltd                  Proposed LT Bk     CRISIL A-      110     Reaffirmed
                                        Loan Fac
Nekkanti Sea Foods Ltd                  Standby LOC        CRISIL A-      139     Reaffirmed
Nekkanti Sea Foods Ltd                  TL                 CRISIL A-      51      Reaffirmed
North India Steel Company               CC                 CRISIL BB-     100     Reaffirmed
North India Steel Company               Proposed LT Bk     CRISIL BB-     10      Reaffirmed
                                        Loan Fac
P. D. Agarwal                           CC                 CRISIL BB+     50      Upgraded from
                                                                                  CRISIL BB
Paulose George Construction Company Pvt CC                 CRISIL BB      60      Reaffirmed
Ltd
Premier Agri Foods Pvt Ltd              CC                 CRISIL BB      200     Suspended
Premier Agri Foods Pvt Ltd              TL                 CRISIL BB      15.2    Suspended
R. H. Laboratories                      CC                 CRISIL BB-     77.5    Suspended
R. H. Laboratories                      Standby Line of    CRISIL BB-     3       Suspended
                                        Credit
R. H. Laboratories                      TL                 CRISIL BB-     2       Suspended
Raju Chilukuri                          CC                 CRISIL BB-     70      Suspended
Rashi Granite Exports India Pvt Ltd     Export Packing     CRISIL BB+     50      Suspended
                                        Credit*
*50 per cent two-way interchangeability between fund-based and non-fund-based limits
Rosata Vitrified Pvt Ltd                LT Loan            CRISIL B+      195     Assigned
Rosata Vitrified Pvt Ltd                CC                 CRISIL B+      60      Assigned
Samal Auto India Pvt Ltd                CC                 CRISIL BB      80      Reaffirmed
Samal Auto India Pvt Ltd                Channel Financing  CRISIL BB      227.5   Reaffirmed
Samal Auto India Pvt Ltd                Line of Credit     CRISIL BB      10      Reaffirmed
Sarda Dairy & Food Products Pvt Ltd     CC                 CRISIL BB-     40      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Sarda Dairy & Food Products Pvt Ltd     TL                 CRISIL BB-     593.1   Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Shanti Sheet Grah Pvt Ltd               CC                 CRISIL B       25      Assigned
Shanti Sheet Grah Pvt Ltd               TL                 CRISIL B       120     Assigned
Shiva Structures Pvt Ltd                CC                 CRISIL B       50      Suspended
Shiva Structures Pvt Ltd                TL                 CRISIL B       250     Suspended
Shivshakti Construction Company         CC                 CRISIL BB      30      Suspended
Shivshakti Construction Company         Overdraft Fac      CRISIL BB      1       Suspended
Shivshakti Construction Company         Proposed CC Limit  CRISIL BB      20      Suspended
Somani Motors Pvt Ltd                   CC                 CRISIL B+      7.5     Reaffirmed
Somani Motors Pvt Ltd                   Electronic Dealer  CRISIL B+      52.5    Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Somani Motors Pvt Ltd                   Proposed LT Bk     CRISIL B+      20      Reaffirmed
                                        Loan Fac
Sri Surya Educational Society           LT Loan            CRISIL BB-     103.5   Reaffirmed
Sri Surya Educational Society           Overdraft Fac      CRISIL BB-     46.5    Reaffirmed
Sun Particle Board Pvt Ltd              CC                 CRISIL B-      20      Suspended
Sun Particle Board Pvt Ltd              TL                 CRISIL B-      73.5    Suspended
Sunder Overseas-Prop. Chandresh Finance CC                 CRISIL BB-     45      Suspended
Ltd.
Supreme Road Transport Pvt Ltd          CC                 CRISIL BB-     120     Suspended
Supreme Road Transport Pvt Ltd          Proposed LT Bk     CRISIL BB-     20      Suspended
                                        Loan Fac
Suresh Angadi Education Foundation      Rupee TL           CRISIL D       170     Suspended
TCI Express Ltd                         BG                 CRISIL A+      100     Reaffirmed
TCI Express Ltd                         CC                 CRISIL A+      600     Reaffirmed
TCI Express Ltd                         Proposed LT Bk     CRISIL A+      300     Reaffirmed
                                        Loan Fac
Thomas Cook India Ltd                   CC**               CRISIL AA-     650     Reaffirmed
** Fully interchangeable with working capital demand loan (WCDL), commercial paper, and letter
of credit (LC)
Thomas Cook India Ltd                   Overdraft Fac@@    CRISIL AA-     650     Reaffirmed
@@ Facility of Rs 150 million interchangeable with WCDL to the extent of Rs 120 million;
facilities of Rs 500 million interchangeable with WCDL and Short Term Loans, Rs 300 million with
Bank Guarantee and Rs 100 million with Letter of Credit.
Universal LSS Exports India Pvt Ltd     Bill Discounting   CRISIL D       400     Suspended
Universal LSS Exports India Pvt Ltd     Proposed ST Bk     CRISIL D       100     Suspended
                                        Loan Fac
Utsah Engineering Pvt Ltd               CC                 CRISIL BBB     90      Reaffirmed
Utsah Engineering Pvt Ltd               Proposed LT Bk     CRISIL BBB     10      Reaffirmed
                                        Loan Fac
Utsah Engineering Pvt Ltd               TL                 CRISIL BBB     20      Reaffirmed
Varsha Construction                     Proposed LT Bk     CRISIL BB-     65      Suspended
                                        Loan Fac
Vindsor Management Consultants Pvt Ltd  CC                 CRISIL B+      155     Suspended
Vindsor Management Consultants Pvt Ltd  LT Loan            CRISIL B+      101     Suspended
Vindsor Management Consultants Pvt Ltd  Proposed LT Bk     CRISIL B+      175     Suspended
                                        Loan Fac
Vindsor Management Consultants Pvt Ltd  WC TL              CRISIL B+      69      Suspended
--------------------------------------------------------------------------------------------
$: 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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