January 9, 2017 / 6:07 AM / 7 months ago

CRISIL ratings for Indian debt instruments-Jan 9

10 Min Read

Jan 9 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of January 6, 2017.


COMPANY                                INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                 ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
ACC Ltd                                 BG*                CRISIL A1+     4500    Reaffirmed
*Bank guarantee and letter of credit limits are interchangeable
ACC Ltd                                 LOC*               CRISIL A1+     2000    Reaffirmed
*Bank guarantee and letter of credit limits are interchangeable
ACC Ltd                                 LOC & BG           CRISIL A1+     2250    Reaffirmed
Bhavya Cements Ltd                      BG                 CRISIL A4+     1.5     Reaffirmed
Bhavya Cements Ltd                      LOC                CRISIL A4+     9.5     Reaffirmed
Bothra Shipping Services Pvt Ltd        BG                 CRISIL A1      150     Reaffirmed
Edcons Exports Pvt Ltd                  LOC                CRISIL A4+     1.5     Reassigned
Krishna Constructions                   BG                 CRISIL A4+     5.5     Reaffirmed
L&T Technology Services Ltd             Non-FBL**          CRISIL A1+     500     Reaffirmed
**Non Fund Based Letter of Credit / Bank Guarantee
Safari Industries India Ltd             LOC@               CRISIL A3+     19.5    Reaffirmed
@Interchangeable to buyer's credit
Sarat Chatterjee and Co (Vsp) Pvt Ltd   BG                 CRISIL A1      450     Reaffirmed
SSS Hi-Tech Constructions Pvt Ltd       BG                 CRISIL A4+     60      Reaffirmed
Vatco Elec-Power Pvt Ltd                Bill Discounting   CRISIL A4      60      Reaffirmed
                                        under LOC
Vatco Elec-Power Pvt Ltd                LOC                CRISIL A4      35      Reaffirmed


LONG TERM RATINGS:
-------------------
ACC Ltd                                 Overdraft Fac      CRISIL AAA     1550    Reaffirmed
ACC Ltd                                 BG*                               1450    Withdrawal
*Bank guarantee and letter of credit limits are interchangeable
Bhavya Cements Ltd                      CC                 CRISIL BB+     50      Upgraded from
                                                                                  CRISIL BB
Bhavya Cements Ltd                      Proposed LT Bk     CRISIL BB+     89      Upgraded from
                                        Loan Fac                                  CRISIL BB
Bothra Shipping Services Pvt Ltd        Buyer`s Credit     CRISIL A       230     Reaffirmed
Bothra Shipping Services Pvt Ltd        CC                 CRISIL A       150     Reaffirmed
Bothra Shipping Services Pvt Ltd        Proposed LT Bk     CRISIL A       90      Reaffirmed
                                        Loan Fac
Bothra Shipping Services Pvt Ltd        TL                 CRISIL A       1460    Assigned
Edcons Exports Pvt Ltd                  Export Packing     CRISIL BB+     14.4    Reaffirmed
                                        Credit*
Edcons Exports Pvt Ltd                  LT Loan            CRISIL BB+     1.6     Reaffirmed
Edcons Exports Pvt Ltd                  Proposed LT Bk     CRISIL BB+     0.5     Assigned
                                        Loan Fac
Gujarat Eco Textile Park Ltd            Proposed LT Bk     CRISIL B-      214.3   Upgraded from
                                        Loan Fac                                  CRISIL D
Gujarat Eco Textile Park Ltd            Rupee TL           CRISIL B-      345.7   Upgraded from
                                                                                  CRISIL D
Hedge Finance Ltd                       Proposed LT Bk     CRISIL BB-     200     Assigned
                                        Loan Fac
K. R. Bakes Pvt Ltd                     CC                 CRISIL BBB-    7.5     Upgraded from
                                                                                  CRISIL BB+
K. R. Bakes Pvt Ltd                     Proposed TL        CRISIL BBB-    52.5    Upgraded from
                                                                                  CRISIL BB+
K. R. Bakes Pvt Ltd                     TL                 CRISIL BBB-    70      Upgraded from
                                                                                  CRISIL BB+
Krishna Constructions                   CC                 CRISIL BB      5.5     Upgraded from
                                                                                  CRISIL BB-
Kunal Cotton Industries                 CC                 CRISIL B-      70      Reaffirmed
Kunal Cotton Industries                 Proposed LT Bk     CRISIL B-      7       Reaffirmed
                                        Loan Fac
Kunal Cotton Industries                 TL                 CRISIL B-      3       Reaffirmed
L&T Technology Services Ltd             FB Fac*            CRISIL AA+     2000    Reaffirmed
*Fund Based Cash Credit / Packing Credit (does not include term loan)
Olympia Merlin Developers Pvt Ltd       CC                 CRISIL BB+     500     Reaffirmed
PVR Ltd                                 LT Loan            CRISIL AA-     348.33  Reaffirmed
Safari Industries India Ltd             CC#                CRISIL BBB     21.8    Reaffirmed
#Including sublimit of Rs.14 crore for working capital demand loan
Safari Industries India Ltd             CC & WC Demand     CRISIL BBB     13.6    Reaffirmed
                                        Loan*
*Including sublimits of Rs.13.6 crore for letter of credit and buyers credit; 
and Rs.1 crore for bank guarantee
Safari Industries India Ltd             CC & WC Demand     CRISIL BBB     25      Reaffirmed
                                        Loan$
$Including sublimits of Rs.25 crore for letter of credit and Rs.25 crore for buyers credit
Safari Industries India Ltd             Proposed LT Bk     CRISIL BBB     5.53    Reaffirmed
                                        Loan Fac
Safari Industries India Ltd             TL                 CRISIL BBB     4.57    Assigned
Sarat Chatterjee and Co (Vsp) Pvt Ltd   CC                 CRISIL A       170     Reaffirmed
Sarat Chatterjee and Co (Vsp) Pvt Ltd   LT Loan            CRISIL A       1755    Reaffirmed
Sri Lakshmi Venkata Maruthi Raw and     CC                 CRISIL B       155     Assigned
Boiled Rice Trading Company
Sri Lakshmi Venkata Maruthi Raw and     Proposed LT Bk     CRISIL B       5       Assigned
Boiled Rice Trading Company             Loan Fac
Sri Saravana Spinning Mills Pvt Ltd     CC                 CRISIL BBB+    437.5   Assigned
Sri Saravana Spinning Mills Pvt Ltd     TL                 CRISIL BBB+    112.5   Assigned
SSS Hi-Tech Constructions Pvt Ltd       CC                 CRISIL BB+     30      Reaffirmed
Summit Metals                           Proposed LT Bk     CRISIL B+      10      Assigned
                                        Loan Fac
Summit Metals                           CC                 CRISIL B+      80      Assigned
Summit Metals                           LT Loan            CRISIL B+      20      Assigned
UKS Fruit Mundy                         CC                 CRISIL BB      90      Upgraded from
                                                                                  CRISIL BB-
UKS Fruit Mundy                         Proposed CC Limit  CRISIL BB      10      Upgraded from
                                                                                  CRISIL BB-
Vatco Elec-Power Pvt Ltd                CC                 CRISIL B+      75      Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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