December 26, 2016 / 5:24 AM / in 7 months

CRISIL ratings for Indian debt instruments-Dec 26

23 Min Read

Dec 26 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 23, 2016.


COMPANY                                INSTRUMENT          RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                 ----------          ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Adani Ports and Special Economic Zone   Non-FBL            CRISIL         17920   Assigned
Ltd                                                        A1+(Notice of
                                                           Withdrawal)
Azico Biophore India Pvt Ltd            LOC                CRISIL A4      10      Upgraded from
                                                                                  CRISIL D
DGB Constructions Pvt Ltd               BG                 CRISIL A4+     60      Assigned
Duvet Industries                        BG                 CRISIL A4      2       Assigned
Elkaypee Spinners Pvt Ltd               LOC                CRISIL A4+     13      Assigned
Exodus Ispat Pvt Ltd                    LOC                CRISIL A4      20      Reaffirmed
Gnosis Pharmaceuticals Pvt Ltd          BG                 CRISIL A4+     2.5     Suspended
Godha Cabcon and Insulation             BG                 CRISIL A4+     40      Assigned
Hatsun Agro Product Ltd                 CP                 CRISIL A1      1500    Assigned
Hatsun Agro Product Ltd                 Capex LOC          CRISIL A1      1300    Assigned
Ingersoll Rand India Ltd                LOC & BG           CRISIL A1+     670     Reaffirmed
Ingersoll Rand India Ltd                Proposed NFBL      CRISIL A1+     110     Reaffirmed
Karnataka Machine Tools                 Packing Credit in  CRISIL A4+     20      Assigned
                                        Foreign Currency*
* Fully convertible to Bill Discounting
Karnataka Machine Tools                 LOC                CRISIL A4+     3       Assigned
Karnataka Machine Tools                 BG                 CRISIL A4+     1       Assigned
Keen and Core Developers                BG                 CRISIL A4      100     Assigned
KJR Poly Films Pvt Ltd                  BG                 CRISIL A4+     2       Assigned
Krishak Bharati Cooperative Ltd         LOC*               CRISIL A1+     3000    Notice of
                                                                                  Withdrawal    
                                                     
* Fully interchangeable with bank guarantee and buyer's credit 
Mangla Tubes Pvt Ltd                    LOC                CRISIL A4+     6       Reaffirmed
OSRAM Lighting Pvt Ltd                  BG                 CRISIL A1      250     Assigned
PC Jeweller Ltd                         Foreign Exchange   CRISIL A1      500     Reaffirmed
                                        Forward
PC Jeweller Ltd                         LOC                CRISIL A1      13102.8 Reaffirmed
Pharmachem Traders Pvt Ltd              LOC                CRISIL A4      70      Assigned
Pharmachem Traders Pvt Ltd              BG                 CRISIL A4      15      Assigned
PICL (India) Pvt Ltd                    LOC                CRISIL A2+     50      Reaffirmed
PICL (India) Pvt Ltd                    Packing Credit in  CRISIL A2+     120     Reaffirmed
                                        Foreign Currency
PICL (India) Pvt Ltd                    Purchase Bill      CRISIL A2+     80      Reaffirmed
                                        Discounting
Precimeasure Controls Pvt Ltd           BG                 CRISIL A4+     5       Assigned
Punya Coal Roadlines                    BG                 CRISIL A4+     100     Reaffirmed
Punya Coal Roadlines                    LOC                CRISIL A4+     100     Reaffirmed
Rainbow Spinners Pvt Ltd                BG                 CRISIL A4+     20      Assigned
Rainbow Spinners Pvt Ltd                LOC                CRISIL A4+     40      Assigned
Rajsha Chemicals Pvt Ltd                LOC                CRISIL A4+     30      Suspended
Rakshit Drugs Pvt Ltd                   Inland/Import LOC  CRISIL A4+     40      Reaffirmed
Rakshit Drugs Pvt Ltd                   Packing Credit     CRISIL A4+     25      Reaffirmed
Rakshit Pharmaceuticals Ltd             Inland/Import LOC  CRISIL A4+     30      Upgraded from
                                                                                  CRISIL A4
Resonance Paper Mill Pvt Ltd            BG                 CRISIL A4      10      Reaffirmed
Star Exports                            Bill Discounting   CRISIL A4+     40      Reaffirmed
Star Exports                            LOC                CRISIL A4+     7.5     Reaffirmed
Turbo Engineers (Cbe)                   BG                 CRISIL A4+     40      Reaffirmed
Vetrivel Explosives Pvt Ltd             BG                 CRISIL A4      40      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Placed on Rating Watch with Negative Implications
Vetrivel Explosives Pvt Ltd             LOC                CRISIL A4      40      Downgraded
                                                                                  from CRISIL
                                                                                  A4+ 
Placed on Rating Watch with Negative Implications

LONG TERM RATINGS:
-------------------
ACETEL Enterprises Pvt Ltd              CC                 CRISIL BB-     150     Assigned
Ave Maria Spinning Mills Pvt Ltd        CC                 CRISIL BB-     30      Reaffirmed
Ave Maria Spinning Mills Pvt Ltd        LT Bk Fac          CRISIL BB-     25      Reaffirmed
Ave Maria Spinning Mills Pvt Ltd        Proposed LT Bk     CRISIL BB-     7.5     Reaffirmed
                                        Loan Fac
Ave Maria Spinning Mills Pvt Ltd        Proposed WC Fac    CRISIL BB-     37.5    Reaffirmed
Azico Biophore India Pvt Ltd            CC                 CRISIL B       27      Upgraded from
                                                                                  CRISIL D
Azico Biophore India Pvt Ltd            LT Loan            CRISIL B       123.9   Upgraded from
                                                                                  CRISIL D
Azico Biophore India Pvt Ltd            Proposed LT Bk     CRISIL B       8.1     Upgraded from
                                        Loan Fac                                  CRISIL D
Baba Farid Vidyak Society               CC/ Overdraft Fac  CRISIL BBB     250     Assigned
Baba Farid Vidyak Society               TL                 CRISIL BBB     50      Assigned
Dedicated Freight Corridor Corporation  Corporate Credit   CCR AAA        -       Reaffirmed
of India Ltd                            Rating
DGB Constructions Pvt Ltd               CC                 CRISIL BB-     50      Assigned
Duvet Industries                        TL                 CRISIL B+      28      Assigned
Duvet Industries                        CC                 CRISIL B+      30      Assigned
Elkaypee Spinners Pvt Ltd               Proposed LT Bk     CRISIL BB+     17      Assigned
                                        Loan Fac
Elkaypee Spinners Pvt Ltd               LT Loan            CRISIL BB+     40      Assigned
Elkaypee Spinners Pvt Ltd               CC                 CRISIL BB+     60      Assigned
Exodus Ispat Pvt Ltd                    CC                 CRISIL B+      35      Reaffirmed
Gnosis Pharmaceuticals Pvt Ltd          CC                 CRISIL BB      40      Suspended
Gnosis Pharmaceuticals Pvt Ltd          TL                 CRISIL BB      10      Suspended
Godha Cabcon and Insulation             TL                 CRISIL BB-     7       Assigned
Godha Cabcon and Insulation             CC                 CRISIL BB-     35      Assigned
Hatsun Agro Product Ltd                 CC                 CRISIL A       1000    Reaffirmed
Hatsun Agro Product Ltd                 LT Loan            CRISIL A       4830    Reaffirmed
Hatsun Agro Product Ltd                 Proposed LT Bk     CRISIL A       1270    Reaffirmed
                                        Loan Fac
Hatsun Agro Product Ltd                 WC Loan            CRISIL A       600     Assigned
Heritage Educational Society            TL                 CRISIL BB+     100     Suspended
(Chandigarh)
Hotel Ganesh Pvt Ltd                    Proposed Rupee TL  CRISIL B       100     Reaffirmed
Ingersoll Rand India Ltd                CC                 CRISIL AA+     20      Reaffirmed
Jawaharlal Nehru Port Trust             Corporate Credit   CCR AAA        15      Reaffirmed
                                        Rating
Jawaharlal Nehru Port Trust             Tax-Free Bond*     CRISIL AAA     20000   Reaffirmed
*Non-convertible tax-free bond
Karnataka Machine Tools                 Proposed LT Bk     CRISIL BB-     37.9    Assigned
                                        Loan Fac
Karnataka Machine Tools                 LT Loan            CRISIL BB-     30      Assigned
Karnataka Machine Tools                 CC                 CRISIL BB-     5       Assigned
Keen and Core Developers                CC                 CRISIL B-      60      Assigned
KJR Poly Films Pvt Ltd                  Proposed LT Bk     CRISIL BB      1       Assigned
                                        Loan Fac
KJR Poly Films Pvt Ltd                  LT Loan            CRISIL BB      46.4    Assigned
KJR Poly Films Pvt Ltd                  CC                 CRISIL BB      90      Assigned
KLJ Realtech Pvt Ltd                    Proposed LT Bk     CRISIL BBB-    450     Reaffirmed
                                        Loan Fac
Krishak Bharati Cooperative Ltd         CC#                CRISIL AA-     14300   Reaffirmed
# Fully interchangeable with overdraft facility and short-term loan    
Krishak Bharati Cooperative Ltd         TL                 CRISIL AA-     2700    Withdrawal
Kunal Steel                             CC                 CRISIL B       100     Assigned
M A Fruits International Pvt Ltd        CC                 CRISIL BB      60      Assigned
Maharaja Resources Pvt Ltd              CC                 CRISIL B       27      Assigned
Maharaja Resources Pvt Ltd              TL                 CRISIL B       70      Assigned
Mangla Tubes Pvt Ltd                    CC                 CRISIL BB+     65      Upgraded from
                                                                                  CRISIL BB-
Mangla Tubes Pvt Ltd                    Proposed CC Limit  CRISIL BB+     78      Upgraded from
                                                                                  CRISIL BB-
Mangla Tubes Pvt Ltd                    Standby Line of    CRISIL BB+     6       Upgraded from
                                        Credit                                    CRISIL BB-
Mangla Tubes Pvt Ltd                    TL                 CRISIL BB+     45      Upgraded from
                                                                                  CRISIL BB-
NM Coconut Oil Mercchants               CC                 CRISIL BB      130     Upgraded from
                                                                                  CRISIL BB-
NM Coconut Oil Mercchants               Proposed WC Fac    CRISIL BB      10      Upgraded from
                                                                                  CRISIL BB-
Online Print and Pack Pvt Ltd           CC                 CRISIL B+      60      Reaffirmed
Online Print and Pack Pvt Ltd           TL                 CRISIL B+      20      Reaffirmed
OSRAM Lighting Pvt Ltd                  Overdraft Fac      CRISIL A+      1100    Assigned
Palla Silks Pvt Ltd                     Open CC            CRISIL BB      100     Assigned
Palla Vajara Kiran Textiles Pvt Ltd     Proposed LT Bk     CRISIL BB-     50      Assigned
                                        Loan Fac
Palla Vajara Kiran Textiles Pvt Ltd     LT Loan            CRISIL BB-     20      Assigned
Palla Vajara Kiran Textiles Pvt Ltd     Open CC            CRISIL BB-     30      Assigned
Pashupati Roller Flour Mill Pvt Ltd     CC                 CRISIL BB      40      Upgraded from
                                                                                  CRISIL BB-
Pashupati Roller Flour Mill Pvt Ltd     Proposed LT Bk     CRISIL BB      34      Upgraded from
                                        Loan Fac                                  CRISIL BB-
Pashupati Roller Flour Mill Pvt Ltd     TL                 CRISIL BB      3.8     Upgraded from
                                                                                  CRISIL BB-
PC Jeweller Ltd                         CC                 CRISIL A       22897.2 Reaffirmed
PC Jeweller Ltd                         LT Loan            CRISIL A       870     Reaffirmed
PC Jeweller Ltd                         Proposed Standby   CRISIL A       910     Reaffirmed
                                        Line of Credit
PC Jeweller Ltd                         Standby Line of    CRISIL A       1090    Reaffirmed
                                        Credit
Pharmachem Traders Pvt Ltd              Proposed LT Bk     CRISIL B+      5       Assigned
                                        Loan Fac
Pharmachem Traders Pvt Ltd              CC                 CRISIL B+      10      Assigned
PICL (India) Pvt Ltd                    CC                 CRISIL A-      210     Reaffirmed
PICL (India) Pvt Ltd                    FB Fac             CRISIL A-      35      Reaffirmed
PICL (India) Pvt Ltd                    Proposed LT Bk     CRISIL A-      10      Reaffirmed
                                        Loan Fac
PICL (India) Pvt Ltd                    TL                 CRISIL A-      80      Reaffirmed
PICL (India) Pvt Ltd                    WC Demand Loan     CRISIL A-      20      Reaffirmed
Prahlad Ispat Pvt Ltd                   CC                 CRISIL B+      77.5    Assigned
Precimeasure Controls Pvt Ltd           TL                 CRISIL BB+     52      Assigned
Precimeasure Controls Pvt Ltd           Proposed LT Bk     CRISIL BB+     13      Assigned
                                        Loan Fac
Precimeasure Controls Pvt Ltd           CC                 CRISIL BB+     30      Assigned
Privi Life Sciences Pvt Ltd             CC                 CRISIL BB      100     Reaffirmed
Privi Life Sciences Pvt Ltd             Proposed LT Bk     CRISIL BB      20      Reaffirmed
                                        Loan Fac
Privi Life Sciences Pvt Ltd             TL                 CRISIL BB      55      Reaffirmed
Punya Coal Roadlines                    CC                 CRISIL BB      100     Reaffirmed
R. L. Agro Industries                   CC                 CRISIL D       70      Downgraded
                                                                                  from CRISIL B
R. L. Agro Industries                   LT Loan            CRISIL D       11.3    Downgraded
                                                                                  from CRISIL B
R. L. Agro Industries                   Proposed TL        CRISIL D       23.7    Downgraded
                                                                                  from CRISIL B
R. L. Agro Industries                   Warehouse FinancingCRISIL D       105     Downgraded
                                                                                  from CRISIL B
Rainbow Spinners Pvt Ltd                CC                 CRISIL BB-     100     Assigned
Rainbow Spinners Pvt Ltd                LT Loan            CRISIL BB-     62.2    Assigned
Rajsha Chemicals Pvt Ltd                CC                 CRISIL BB+     43.7    Suspended
Rajsha Chemicals Pvt Ltd                Proposed LT Bk     CRISIL BB+     2.8     Suspended
                                        Loan Fac
Rajsha Chemicals Pvt Ltd                TL                 CRISIL BB+     23.5    Suspended
Rakesh Marble & Granite                 CC                 CRISIL B+      15      Notice of
                                                                                  Withdrawal
Rakesh Marble & Granite                 Proposed WC Fac    Withdrawal     35      Notice of
                                                                                  Withdrawal
Rakshit Drugs Pvt Ltd                   CC                 CRISIL BB      100     Reaffirmed
Rakshit Drugs Pvt Ltd                   LT Loan            CRISIL BB      59.3    Reaffirmed
Rakshit Drugs Pvt Ltd                   WC TL              CRISIL BB      55.7    Reaffirmed
Rakshit Pharmaceuticals Ltd             CC                 CRISIL BB      100     Upgraded from
                                                                                  CRISIL B+
Rakshit Pharmaceuticals Ltd             LT Loan            CRISIL BB      58      Upgraded from
                                                                                  CRISIL B+
Rakshit Pharmaceuticals Ltd             Proposed LT Bk     CRISIL BB      24      Upgraded from
                                        Loan Fac                                  CRISIL B+
Resonance Paper Mill Pvt Ltd            CC                 CRISIL B+      40      Upgraded from
                                                                                  CRISIL B
Resonance Paper Mill Pvt Ltd            TL                 CRISIL B+      72      Upgraded from
                                                                                  CRISIL B
Resonance Paper Mill Pvt Ltd            Proposed LT Bk     CRISIL B+      18      Upgraded from
                                        Loan Fac                                  CRISIL B
Sadha Exports                           CC                 CRISIL B+      50      Reaffirmed
Sai Lakshmi Venkateswara Raw and Boiled CC                 CRISIL BB-     50      Suspended
Rice Mill
Sai Lakshmi Venkateswara Raw and Boiled LT Loan            CRISIL BB-     4       Suspended
Rice Mill
Standard Strips India Pvt Ltd           CC                 CRISIL BB      230     Reaffirmed
Standard Strips India Pvt Ltd           Channel Financing  CRISIL BB      40      Assigned
Star Exports                            CC                 CRISIL BB-     15      Reaffirmed
Star Exports                            LT Loan            CRISIL BB-     86.4    Reaffirmed
Star Exports                            Packing Credit     CRISIL BB-     162.5   Reaffirmed
Star Exports                            Proposed WC Fac    CRISIL BB-     8.6     Reaffirmed
Starwood Techno Industries Pvt Ltd      TL                 CRISIL B       40      Assigned
Starwood Techno Industries Pvt Ltd      CC                 CRISIL B       47      Assigned
Starwood Techno Industries Pvt Ltd      Proposed LT Bk     CRISIL B       3       Assigned
                                        Loan Fac
Turbo Engineers (Cbe)                   CC                 CRISIL BB-     38      Reaffirmed
Turbo Engineers (Cbe)                   TL                 CRISIL BB-     2       Reaffirmed
UKS Cold Storage Pvt Ltd                LT Loan            CRISIL BB      30      Assigned
UKS Cold Storage Pvt Ltd                Proposed CC Limit  CRISIL BB      30      Assigned
Universal Power Transformer Pvt Ltd     BG                 CRISIL D       80      Suspended
Universal Power Transformer Pvt Ltd     CC                 CRISIL D       120     Suspended
Universal Power Transformer Pvt Ltd     Foreign Bill       CRISIL D       30      Suspended
                                        Discounting
Universal Power Transformer Pvt Ltd     LOC                CRISIL D       50      Suspended
Universal Power Transformer Pvt Ltd     Proposed LT Bk     CRISIL D       660     Suspended
                                        Loan Fac
Vetrivel Explosives Pvt Ltd             CC                 CRISIL B       150     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Vetrivel Explosives Pvt Ltd             TL                 CRISIL B       314.5   Downgraded
                                                                                  from CRISIL
                                                                                  BB-

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