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CRISIL ratings for Indian debt instruments-Dec 21
December 21, 2016 / 5:23 AM / 10 months ago

CRISIL ratings for Indian debt instruments-Dec 21

Dec 21 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 20, 2016.


COMPANY                                INSTRUMENT          RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                 ----------          ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ahuja Construction Engineers            BG                 CRISIL A4+     50      Reaffirmed
Alchem International Pvt Ltd            LOC%               CRISIL A2+     45      Reaffirmed
% Fully interchangeable with Bank Guarantee
Alchem International Pvt Ltd            Proposed ST Bk     CRISIL A2+     6.4     Reaffirmed
                                        Loan Fac
FirstRand Bank Ltd                      CD Programme       CRISIL A1+     2500    Reaffirmed
G S Autocomp Pvt Ltd                    LOC                CRISIL A4      5       Reaffirmed
Hindustan Newsprint Ltd                 BG                 CRISIL D       50      Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Hindustan Newsprint Ltd                 LOC*               CRISIL D       450     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
* Interchangeable with bank guarantee limits
Hitkari Multifilters Ltd                BG                 CRISIL A4      0.5     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Hitkari Multifilters Ltd                LOC                CRISIL A4      75      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Injectoplast Pvt Ltd                    BG                 CRISIL A1      20      Reaffirmed
Injectoplast Pvt Ltd                    LOC                CRISIL A1      50      Reaffirmed
J.R.P. Exports                          Proposed ST Bk     CRISIL A4+     37.5    Assigned
                                        Loan Fac
Kargwal Constructions Pvt Ltd           BG                 CRISIL A4+     120     Reaffirmed
Kotak Mahindra Prime Ltd                Proposed ST Bk     CRISIL A1+     29850   Reaffirmed
                                        Loan Fac
Kotak Mahindra Prime Ltd                ST Loan            CRISIL A1+     150     Reaffirmed
Kotak Mahindra Prime Ltd                ST Debt            CRISIL A1+     60000   Reaffirmed
Kotak Mahindra Prime Ltd                ST Debt Issue      CRISIL A1+     40000   Withdrawal
Laxmi Fabdye Printing Pvt Ltd           Overdraft Fac      CRISIL A4      20      Assigned
Leather Crafts India Pvt Ltd            Proposed ST Bk     CRISIL A3+     38.4    Reaffirmed
                                        Loan Fac
Lohia Corp Ltd                          Foreign Bill       CRISIL A1+     150     Reaffirmed
                                        Purchase
Lohia Corp Ltd                          LOC & BG           CRISIL A1+     200     Reaffirmed
M Suresh Company Pvt Ltd                Foreign Exchange   CRISIL A1      40      Reaffirmed
                                        Forward
M Suresh Company Pvt Ltd                Pre Shipment       CRISIL A1      362.5   Reaffirmed
                                        Packing Credit
M Suresh Company Pvt Ltd                Standby Line of    CRISIL A1      287.5   Reaffirmed
                                        Credit
M Suresh Jewellery Pvt Ltd              Post Shipment      CRISIL A1      100     Reaffirmed
                                        Credit
Muskaan Power Infrastructure Ltd        LOC & BG           CRISIL A4+     3       Reaffirmed
Navbharat Insulation and Engg. Co.      BG                 CRISIL A4      20      Reaffirmed
Navbharat Insulation and Engg. Co.      LOC                CRISIL A4      9       Reaffirmed
R J Buildcon Pvt Ltd                    BG                 CRISIL A4      50.5    Assigned
R. K. Patil - Panvel                    BG                 CRISIL A4+     2.5     Assigned
Salzer Magnet Wires Ltd                 BG                 CRISIL A4+     3       Reaffirmed
Salzer Magnet Wires Ltd                 LOC                CRISIL A4+     80      Reaffirmed
Sendoz Commercials Pvt Ltd              LOC & BG           CRISIL A4+     70      Downgraded
                                                                                  from CRISIL A3
Sendoz Impex Ltd                        BG                 CRISIL A4+     60      Downgraded
                                                                                  from CRISIL A3
Sparco Multiplast Pvt Ltd               BG                 CRISIL A4+     10      Reaffirmed
Threads India Ltd                       BG                 CRISIL A1      15      Reaffirmed
Threads India Ltd                       LOC                CRISIL A1      100     Reaffirmed
Trina NRE Transportation Ltd            BG                 CRISIL A4      8       Upgraded
                                                                                  from CRISIL D
Trina NRE Transportation Ltd            Bill Purchase      CRISIL A4      12.5    Upgraded
                                                                                  from CRISIL D
Trina NRE Transportation Ltd            LOC                CRISIL A4      15      Upgraded
                                                                                  from CRISIL D
Trina NRE Transportation Ltd            Packing Credit     CRISIL A4      30      Upgraded
                                                                                  from CRISIL D
Welset Plast Extrusions Pvt Ltd         BG                 CRISIL A3      10      Upgraded from
                                                                                  CRISIL A4+
Welset Plast Extrusions Pvt Ltd         LOC                CRISIL A3      120     Upgraded from
                                                                                  CRISIL A4+
Yasin Impex India Pvt Ltd               LOC                CRISIL A4      375     Reaffirmed


LONG TERM RATINGS:
-------------------
Ahuja Construction Engineers            CC                 CRISIL BB-     50      Reaffirmed
Alchem International Pvt Ltd            CC*                CRISIL A-      85      Reaffirmed
* Interchangeable with export packing credit (EPC)/Foreign Bill Purchase (FBP)/Foreign
 Bill Discounting (FBD) upto Rs. 60 million
Alchem International Pvt Ltd            Export Packing     CRISIL A-      180     Reaffirmed
                                        Credit#
# Aggregate of Cash Credit (CC), Working Capital Demand Loan(WCDL), Usance Letter of 
Credit (ULC), Pre Shipment lines not to exceed Rs. 180 million
Alchem International Pvt Ltd            Standby Line of    CRISIL A-      50      Reaffirmed
                                        Credit
Alchem International Pvt Ltd            TL                 CRISIL A-      80      Reaffirmed
Alchem International Pvt Ltd            Export Packing     CRISIL A-      445     Reaffirmed
                                        Credit$
$ Include peak level limit of Rs. 150 million. Interchangeable with foreign bill 
purchase and foreign bill discounting facility up to Rs. 295 million
Amisha Steels Pvt Ltd                   CC                 CRISIL B       55      Reaffirmed
Au Financiers India Ltd                 BG                 CRISIL A+      500     Upgraded from
                                                                                  CRISIL A 
Au Financiers India Ltd                 CC                 CRISIL A+      7928.2  Upgraded from
                                                                                  CRISIL A 
Au Financiers India Ltd                 LT Loan*           CRISIL A+      6477.3  Upgraded from
                                                                                  CRISIL A 

*Includes subordinated term loan of Rs 0.3 billion
Au Financiers India Ltd                 Proposed LT Bk     CRISIL A+      4794.5  Upgraded from
                                        Loan Fac                                  CRISIL A 
Au Financiers India Ltd                  NCDs              CRISIL A+/S    2200    Upgraded from
                                                                                  CRISIL A
Au Financiers India Ltd                  NCDs              CRISIL A+/S    8000    Upgraded from
                                                                                  CRISIL A
Au Financiers India Ltd                  NCDs#             CRISIL A+/S    500     Upgraded from
                                                                                  CRISIL A
Au Financiers India Ltd                 Subordinated Debt  CRISIL A+/S    50      Upgraded from
                                        Bonds                                     CRISIL A
Au Financiers India Ltd                 Subordinated Debt  CRISIL A+/S    1400    Upgraded from
                                        Bonds                                     CRISIL A
Au Financiers India Ltd                  CP Programme      CRISIL A+/S    5000    Reaffirmed
Bhaggyam Constructions                  TL                 CRISIL BB      200     Assigned
                                                                                  Suspension
                                                                                  Revoked
G S Autocomp Pvt Ltd                    CC                 CRISIL B+      35      Upgraded from
                                                                                  CRISIL B
G S Autocomp Pvt Ltd                    TL                 CRISIL B+      47.6    Upgraded from
                                                                                  CRISIL B
HDFC Bank Ltd                           Tier I Bonds       CRISIL AA+     50000   Assigned
                                        (Under Basel III)
HDFC Bank Ltd                           Infrastructure     CRISIL AAA     50000   Reaffirmed
                                        Bonds
HDFC Bank Ltd                           Infrastructure     CRISIL AAA     100000  Reaffirmed
                                        Bonds
HDFC Bank Ltd                           Perpetual Tier I   CRISIL AAA     12000   Reaffirmed
                                        Bonds (Under Basel
                                        II)
HDFC Bank Ltd                           Upper Tier II      CRISIL AAA     52000   Reaffirmed
                                        Bonds (Under Basel
                                        II)
Hindustan Newsprint Ltd                 CC#                CRISIL D       450     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
# Interchangeable with LC limits of Rs. 50 Million
Hindustan Newsprint Ltd                 CC*                CRISIL D       600     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
* Interchangeable with bank guarantee limits
Hindustan Newsprint Ltd                 CC                 CRISIL D       50      Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Hitkari Multifilters Ltd                CC                 CRISIL B+      75      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Hitkari Multifilters Ltd                Proposed LT Bk     CRISIL B+      38.7    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Hitkari Multifilters Ltd                TL                 CRISIL B+      0.8     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Indel Money Pvt Ltd                     CC                 CRISIL BBB-    30      Upgraded from
                                                                                  CRISIL BB
Indel Money Pvt Ltd                     Proposed LT Bk     CRISIL BBB-    270     Upgraded from
                                        Loan Fac                                  CRISIL BB
Injectoplast Pvt Ltd                    CC                 CRISIL A-      150     Reaffirmed
Injectoplast Pvt Ltd                    Proposed LT Bk     CRISIL A-      105     Reaffirmed
                                        Loan Fac
J.R.P. Exports                          Export Packing     CRISIL BB      20      Assigned
                                        Credit
J.R.P. Exports                          Proposed LT Bk     CRISIL BB      17.5    Assigned
                                        Loan Fac
JPK Educational Trust                   LT Loan            CRISIL BB-     55      Reaffirmed
JPK Educational Trust                   Secured Overdraft  CRISIL BB-     5       Reaffirmed
                                        Fac
Kargwal Constructions Pvt Ltd           CC                 CRISIL BB+     40      Reaffirmed
Kargwal Constructions Pvt Ltd           Proposed LT Bk     CRISIL BB+     20      Assigned
                                        Loan Fac
Khedut Agro Engineering Pvt Ltd         CC                 CRISIL BB-     40      Reaffirmed
Khedut Agro Engineering Pvt Ltd         Proposed LT Bk     CRISIL BB-     28      Reaffirmed
                                        Loan Fac
Khedut Agro Engineering Pvt Ltd         TL                 CRISIL BB-     7       Reaffirmed
Kodarma Chemical Pvt Ltd                CC                 CRISIL D       145     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Kodarma Chemical Pvt Ltd                TL                 CRISIL D       30.5    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Kotak Mahindra Prime Ltd                CC & WC demand loanCRISIL AAA     38500   Reaffirmed
Kotak Mahindra Prime Ltd                LT Loan            CRISIL AAA     2710    Reaffirmed
Kotak Mahindra Prime Ltd                Proposed LT Bk     CRISIL AAA     28790   Reaffirmed
                                        Loan Fac
Kotak Mahindra Prime Ltd                NCDs               CRISIL AAA/    160128  Reaffirmed
Kotak Mahindra Prime Ltd                Subordinated Debt  CRISIL AAA/    7900    Reaffirmed
Kotak Mahindra Prime Ltd                Nifty-Linked       CRISIL PP-MLD  3290    Reaffirmed
                                        Debentures         AAAr
Laxmi Fabdye Printing Pvt Ltd           Proposed TL        CRISIL B-      19.6    Assigned
Laxmi Fabdye Printing Pvt Ltd           LT Loan            CRISIL B-      100     Assigned
Leather Crafts India Pvt Ltd            CC                 CRISIL BBB     60      Reaffirmed
Leather Crafts India Pvt Ltd            Proposed LT Bk     CRISIL BBB     40.1    Reaffirmed
                                        Loan Fac
Leather Crafts India Pvt Ltd            TL                 CRISIL BBB     61.5    Reaffirmed
Lohia Corp Ltd                          CC                 CRISIL AA-     900     Reaffirmed
Lohia Corp Ltd                          Foreign Currency TLCRISIL AA-     288.4   Reaffirmed
Lohia Corp Ltd                          Proposed LT Bk     CRISIL AA-     441.6   Reaffirmed
                                        Loan Fac
M Suresh Company Pvt Ltd                Post Shipment      CRISIL A       1866.5  Reaffirmed
                                        Credit
M Suresh Company Pvt Ltd                Pre Shipment       CRISIL A       2021    Reaffirmed
                                        Packing Credit
M Suresh Company Pvt Ltd                Standby Line of    CRISIL A       432.5   Reaffirmed
                                        Credit
M Suresh Jewellery Pvt Ltd              Export Packing     CRISIL A       100     Reaffirmed
                                        Credit
M Suresh Jewellery Pvt Ltd              FB Fac             CRISIL A       400     Reaffirmed
M Suresh Jewellery Pvt Ltd              Post Shipment      CRISIL A       250     Reaffirmed
                                        Credit
M Suresh Jewellery Pvt Ltd              WC Fac             CRISIL A       100     Assigned
M Suresh Jewellery Pvt Ltd              Pre Shipment       CRISIL A       200     Assigned
                                        Packing Credit
Muskaan Power Infrastructure Ltd        CC                 CRISIL BB      170     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Muthu Poultry Agencies                  Proposed LT Bk     CRISIL BB-     50      Assigned
                                        Loan Fac
Muthu Poultry Agencies                  CC                 CRISIL BB-     80      Assigned
Muthu Poultry Agencies                  LT Loan            CRISIL BB-     20      Assigned
Nagoorar Enterprises                    CC                 CRISIL B+      150     Reaffirmed
Nagoorar Enterprises                    TL                 CRISIL B+      34.4    Reaffirmed
National Capital Region Planning Board  Bond               CRISIL AAA     9000    Reaffirmed
Navbharat Insulation and Engg. Co.      CC                 CRISIL C       19.5    Downgraded
                                                                                  from CRISIL B-
Navbharat Insulation and Engg. Co.      WC TL              CRISIL C       20      Downgraded
                                                                                  from CRISIL B-
Palace Solar Energy Pvt Ltd             Proposed Rupee TL  CRISIL A       442.8   Reaffirmed
Palace Solar Energy Pvt Ltd             Rupee TL*          CRISIL A       857.2   Reaffirmed
* Outstanding as on November 30, 2016
Purulia and Kharagpur Transmission Co.  Proposed TL        CRISIL BBB     3800    Upgraded from
Ltd                                                                               CRISIL BBB-
R J Buildcon Pvt Ltd                    TL                 CRISIL B+      9.5     Assigned
R J Buildcon Pvt Ltd                    Overdraft Fac      CRISIL B+      40      Assigned
R. K. Patil - Panvel                    WC TL              CRISIL BB      50      Assigned
R. K. Patil - Panvel                    Proposed LT Bk     CRISIL BB      130     Assigned
                                        Loan Fac
R. K. Patil - Panvel                    CC                 CRISIL BB      67.5    Assigned
Regalia Jewels Pvt Ltd                  CC                 CRISIL B       65      Reaffirmed
Salzer Magnet Wires Ltd                 CC                 CRISIL BB      120     Reaffirmed
Sendoz Commercials Pvt Ltd              CC                 CRISIL BB+     160     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Sendoz Impex Ltd                        CC                 CRISIL BB+     220     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Sendoz Impex Ltd                        Proposed LT Bk     CRISIL BB+     5       Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Shri Rewa Rice Mills Pvt Ltd            CC                 CRISIL B+      70      Upgraded from
                                                                                  CRISIL B
Shri Rewa Rice Mills Pvt Ltd            Proposed LT Bk     CRISIL B+      5.5     Upgraded from
                                        Loan Fac                                  CRISIL B
Shri Rewa Rice Mills Pvt Ltd            TL                 CRISIL B+      74.5    Upgraded from
                                                                                  CRISIL B
Shriniwas Ginning Industries            CC                 CRISIL B+      80      Reaffirmed
Shriniwas Ginning Industries            TL                 CRISIL B+      5.4     Reaffirmed
Shriniwas Ginning Industries            Warehouse FinancingCRISIL B+      14.6    Reaffirmed
Sparco Multiplast Pvt Ltd               CC                 CRISIL BB-     57.5    Reaffirmed
Sparco Multiplast Pvt Ltd               LT Loan            CRISIL BB-     62.5    Reaffirmed
Sparco Multiplast Pvt Ltd               Proposed LT Bk     CRISIL BB-     16.4    Assigned
                                        Loan Fac
Sri Jayamalar Spinning Mills Pvt Ltd    CC                 CRISIL BB-     60      Assigned
Sri Jayamalar Spinning Mills Pvt Ltd    LT Loan            CRISIL BB-     13      Assigned
Sri Jayamalar Spinning Mills Pvt Ltd    Proposed LT Bk     CRISIL BB-     37      Assigned
                                        Loan Fac
Threads India Ltd                       CC*                CRISIL A-      500     Reaffirmed
*Interchangeable with bill discounting
Threads India Ltd                       LT Loan            CRISIL A-      52.8    Reaffirmed
Threads India Ltd                       Proposed LT Bk     CRISIL A-      29.2    Assigned
                                        Loan Fac
Trina NRE Transportation Ltd            CC/ Overdraft Fac  CRISIL B+      20      Upgraded
                                                                                  from CRISIL D
Trina NRE Transportation Ltd            TL                 CRISIL B+      60      Upgraded
                                                                                  from CRISIL D
Uttaranchal Industries                  CC                 CRISIL BB      50      Reaffirmed
Welset Plast Extrusions Pvt Ltd         CC                 CRISIL BBB-    140     Upgraded from
                                                                                  CRISIL BB+
Welset Plast Extrusions Pvt Ltd         Export Packing     CRISIL BBB-    100     Upgraded from
                                        Credit                                    CRISIL BB+
Welset Plast Extrusions Pvt Ltd         Proposed LT Bk     CRISIL BBB-    19      Upgraded from
                                        Loan Fac                                  CRISIL BB+
Welset Plast Extrusions Pvt Ltd         Standby Line of    CRISIL BBB-    31      Upgraded from
                                        Credit                                    CRISIL BB+
Welset Plast Extrusions Pvt Ltd         TL                 CRISIL BBB-    30      Assigned
Wonder Fibromats Pvt Ltd                CC                 CRISIL BB      52.5    Reaffirmed
Wonder Fibromats Pvt Ltd                TL                 CRISIL BB      72.5    Reaffirmed
Yasin Impex India Pvt Ltd               CC                 CRISIL B+      75      Reaffirmed
Zagdu Singh Charitable Trust            Overdraft Fac      CRISIL A-      125     Reaffirmed
Zagdu Singh Charitable Trust            Proposed LT Bk     CRISIL A-      175     Reaffirmed
                                        Loan Fac
--------------------------------------------------------------------------------------------
$: 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 GuaranteeCC-Cash CreditCCPS-Cumulative Convertible Preference ShareCD-Certificate
of DepositCLO-Collateralized Loan ObligationCPA-Claims Paying AbilityCP-Commercial
PaperCPS-convertible preference sharesCRPS- Cumulative Redeemable Convertible Preference
sharesDDB-Deep Discount BondEPBI-Exchange premium bondFBL-Fund Based LimitsFRB/FRN
-Floating Rate Bond/NoteICD -Inter Corporate DepositITD-Immediate Term DebtLOC-Letter of
CreditLT -Long TermLTB -Long Term BorrowingLTD -Long Term DebtMOCD-multiple option
convertible debentureMTD -Medium term DebentureMTN-medium term notesNCD(SO) -
Non-Convertible Debenture-(Structured Obligation)NCD-Non-convertible DebenturesNCRB-Non
Convertible Redeemable BondsNM-Not MeaningfulOCD-optionally convertible debentureOD-Over
DraftOFCD-Optionally Fully Convertible DebenturePCD-Partially Convertible Debenture;
PCN-partly convertible notesPCPS-Partly Convertible Preference SharePOCD-partly optional;
PP-privately placedPSPC-Post Shipment & Packing CreditPS-Preference SharesPTC-Pass
Through CertificatesRPS-Redeemable Preference SharesSCPN-secured convertible preference
notesSDO-Structured Debt ObligationSLR-Statutory Liquidity RatioSO-Structured
ObligationSPCD - Secured Partly Convertible DebenturesSPN-secured premium notesSTB-Short
Term BondSTD-Short Term DebenturesST-Short TermSub. Bonds-Subordinate BondsTB-Taxable
BondTFB-Tax Free BondTL-Term LoanTOCD-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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