January 13, 2017 / 4:41 AM / 7 months ago

CRISIL ratings for Indian debt instruments-Jan 13

Jan 13 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 12, 2017.

COMPANY                               INSTRUMENT           RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------           ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Alpna Visual Packaging Aids             Overdraft          CRISIL A4      10      Assigned
Assam Air Products Pvt Ltd              BG                 CRISIL A3+     30      Upgraded from
                                                                                  CRISIL A3
C.R.I. Pumps Pvt Ltd                    BG                 CRISIL A1      16.2    Reaffirmed
C.R.I. Pumps Pvt Ltd                    LOC                CRISIL A1      250     Reaffirmed
C.R.I. Pumps Pvt Ltd                    CP                 CRISIL A1      550     Reaffirmed
Chemspec Chemicals Pvt Ltd              LOC#               CRISIL A3+     400     Reaffirmed
# interchangeable with Buyers Credit
Cotton Works                            BG                 CRISIL A4+     3.6     Reassigned
Craft Int-Decor Pvt Ltd                 BG                 CRISIL A4      50      Reaffirmed
Good Luck Capital Pvt Ltd               Proposed NFBL      CRISIL A4      20      Assigned
Good Luck Capital Pvt Ltd               Overdraft          CRISIL A4      100     Assigned
IMP Energy Ltd                          BG                 CRISIL A4+     160     Reaffirmed
IMP Energy Ltd                          LOC                CRISIL A4+     40      Reaffirmed
Kaka Overseas Ltd                       Export Packing     CRISIL A4+     35      Reaffirmed
                                        Credit
Kaka Overseas Ltd                       Foreign Bill       CRISIL A4+     44      Reaffirmed
                                        Purchase
Pace Renewable Energies Pvt Ltd         BG                 CRISIL A3+     60      Reassigned
Pradeep Metals Ltd                      Export Bill        CRISIL A3+     225     Reaffirmed
                                        Purchase
Pradeep Metals Ltd                      Packing Credit in  CRISIL A3+     225     Reaffirmed
                                        Foreign Currency
Priti Sales Corporation                 LOC                CRISIL A4      15      Assigned
Rajapalayam Mills Ltd                   Foreign Exchange   CRISIL A2+     30      Upgraded from
                                        Forward@                                  CRISIL A2
@earlier rated as Derivative facility
Rajapalayam Mills Ltd                   LOC & BG##         CRISIL A2+     450     Upgraded from
                                                                                  CRISIL A2
## - Interchangeable with buyers credit to the extent of Rs 40 crore  
Shobha Woollens Pvt Ltd                 Export Packing     CRISIL A4+     37.5    Reaffirmed
                                        Credit
Shobha Woollens Pvt Ltd                 Foreign Bill       CRISIL A4+     53.5    Reaffirmed
                                        Purchase
Synergy Green Industries Pvt Ltd        BG                 CRISIL A4+     10      Upgraded from
                                                                                  CRISIL D
Synergy Green Industries Pvt Ltd        LOC & BG           CRISIL A4+     90      Upgraded from
                                                                                  CRISIL D
Synergy Green Industries Pvt Ltd        Proposed LOC & BG  CRISIL A4+     19.7    Upgraded from
                                                                                  CRISIL D
Universal Precision Screws              Export Packing     CRISIL A3+     195     Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/
                                        Foreign Bill 
                                        discounting
Universal Precision Screws              Foreign Exchange   CRISIL A3+     3       Reaffirmed
                                        Forward
Universal Precision Screws              LOC                CRISIL A3+     70      Reaffirmed
Vedang Cellular Services Pvt Ltd        BG                 CRISIL A3      1.5     Upgraded from
                                                                                  CRISIL A4+
Vedang Radio Technology Pvt Ltd         BG                 CRISIL A3      1.5     Upgraded from
                                                                                  CRISIL A4+

LONG TERM RATINGS:
-------------------
Alpna Visual Packaging Aids             TL                 CRISIL B       41      Assigned
Alpna Visual Packaging Aids             Proposed FB Bk     CRISIL B       9       Assigned
                                        Limits
Amalorpavam Educational Welfare Society LT Loan            CRISIL BBB     120     Assigned
Assam Air Products Pvt Ltd              CC                 CRISIL BBB     30       Upgraded
                                                                                  from CRISIL
                                                                                  BBB-
Assam Air Products Pvt Ltd              Proposed LT Bk     CRISIL BBB     145.9    Upgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Assam Air Products Pvt Ltd              TL                 CRISIL BBB     94.1     Upgraded
                                                                                  from CRISIL
                                                                                  BBB-
Bristol Tourist Complex                 TL                 CRISIL D       500     Downgraded
                                                                                  from CRISIL B
C.R.I. Pumps Pvt Ltd                    CC                 CRISIL A       3000    Reaffirmed
C.R.I. Pumps Pvt Ltd                    LT Loan            CRISIL A       1181.8  Reaffirmed
C.R.I. Pumps Pvt Ltd                    Proposed TL        CRISIL A       480     Reaffirmed
California Agri Nuts Corp.              CC/ Overdraft Fac  CRISIL B+      100     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Chemspec Chemicals Pvt Ltd              CC*                CRISIL BBB     410     Reaffirmed
* interchangeable with WCDL/export finance facilities
Chemspec Chemicals Pvt Ltd              TL                 CRISIL BBB     150     Reaffirmed
Cotton Works                            CC                 CRISIL BB      80      Reaffirmed
Cotton Works                            TL                 CRISIL BB      51.5    Reaffirmed
Craft Int-Decor Pvt Ltd                 CC                 CRISIL B+      30      Reaffirmed
Craft Int-Decor Pvt Ltd                 Proposed LT Bk     CRISIL B+      35      Reaffirmed
                                        Loan Fac
Good Luck Capital Pvt Ltd               CC                 CRISIL B-      180     Assigned
Gulf Petrochem India Pvt Ltd            Proposed LT Bk     CRISIL A-(SO)  222.7   Reaffirmed
                                        Loan Fac
Gulf Petrochem India Pvt Ltd            TL                 CRISIL A-(SO)  2107.3  Reaffirmed

IMP Energy Ltd                          CC                 CRISIL BB-     20      Reaffirmed
Jayabheri Properties Pvt Ltd            LT Loan            CRISIL BB-     1500    Reaffirmed
Kaka Overseas Ltd                       Foreign Bill       CRISIL BB      26      Upgraded from
                                        Purchase                                  CRISIL BB-
Kaka Overseas Ltd                       Standby Line of    CRISIL BB      21      Upgraded from
                                        Credit                                    CRISIL BB-
Nandyal Municipality                    Corporate Credit   CCR BB+        -       Assigned
                                        Rating
Nellore Municipal Corporation           Corporate Credit   CCR BB+        -       Assigned
                                        Rating
Nijaguna Land Developers and Builders   CC                 CRISIL D       90      Assigned
Pace Renewable Energies Pvt Ltd         Proposed LT Bk     -              25      Withdrawal
                                        Loan Fac
Pace Renewable Energies Pvt Ltd         TL                 CRISIL BBB     165     Reaffirmed
Palsana Enviro Protection Ltd           TL                 CRISIL BBB-    300     Reaffirmed
Patson Global Ltd                       CC                 CRISIL BB-     50      Reaffirmed
Patson Global Ltd                       Channel Financing  CRISIL BB-     96      Reaffirmed
Patson Global Ltd                       Proposed CC Limit  CRISIL BB-     14      Reaffirmed
Patson Steels Pvt Ltd                   CC                 CRISIL BB-     90      Reaffirmed
Patson Steels Pvt Ltd                   Channel Financing  CRISIL BB-     120     Reaffirmed
Pradeep Metals Ltd                      CC                 CRISIL BBB     180     Reaffirmed
Pradeep Metals Ltd                      LT Loan            CRISIL BBB     46      Reaffirmed
Pradeep Metals Ltd                      Proposed LT Bk     CRISIL BBB     8       Reaffirmed
                                        Loan Fac
Pradeep Metals Ltd                      TL                 CRISIL BBB     166     Reaffirmed
Prayas Steels Pvt Ltd                   CC                 CRISIL B       90      Reaffirmed
Premier Cryogenics Ltd                  CC                 CRISIL BBB     30      Reaffirmed
Premier Cryogenics Ltd                  TL                 CRISIL BBB     125     Reaffirmed
Priti Sales Corporation                 Corporate Credit   CRISIL B+      50      Assigned
                                        Rating
Proddatur Municipal corporation         Corporate Credit   CCR BB+        -       Assigned
                                        Rating
R.S.G. Exports Pvt Ltd                  TL                 CRISIL BB-     150     Assigned
Rajapalayam Mills Ltd                   CC                 CRISIL A-      1550     Upgraded
                                                                                  from CRISIL
                                                                                  BBB+
Rajapalayam Mills Ltd                   LT Loan            CRISIL A-      771.8    Upgraded
                                                                                  from CRISIL
                                                                                  BBB+
Rajapalayam Mills Ltd                   Proposed LT Bk     CRISIL A-      172.8    Upgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB+
Rajapalayam Mills Ltd                   WC Demand Loan**   CRISIL A-      700      Upgraded
                                                                                  from CRISIL
                                                                                  BBB+
** - Includes sub-limits of Rs.30.83 crore for working capital term loan, Rs.25 crore for
purchase bill discounting, Rs.30 crore for foreign bill discounting, Rs.15 crore for letter for
credit-backed bill discounting, Rs 40 crore for letter of credit and Rs 40 crore  for buyer's
credit.
Rajapalayam Mills Ltd                   WC TL              CRISIL A-      500      Upgraded
                                                                                  from CRISIL
                                                                                  BBB+
RSG Foods Pvt Ltd                       CC                 CRISIL BB-     220     Assigned
Sara Exports Ltd                        CC*                CRISIL BB      320     Upgraded from
                                                                                  CRISIL B+
Sara Exports Ltd                        Proposed LT Bk     CRISIL BB      125     Upgraded from
                                        Loan Fac                                  CRISIL B+
Shobha Woollens Pvt Ltd                 Export Packing     CRISIL BB      20      Upgraded from
                                        Credit                                    CRISIL BB-
Shobha Woollens Pvt Ltd                 Standby Line of    CRISIL BB      9       Upgraded from
                                        Credit                                    CRISIL BB-
SMS Shivnath Infrastructure Ltd         LT Loan            CRISIL BBB+    2000    Reaffirmed
Synergy Green Industries Pvt Ltd        CC                 CRISIL BB-     110     Upgraded from
                                                                                  CRISIL D
Synergy Green Industries Pvt Ltd        Proposed CC Limit  CRISIL BB-     50      Upgraded from
                                                                                  CRISIL D
Synergy Green Industries Pvt Ltd        Proposed TL        CRISIL BB-     100     Upgraded from
                                                                                  CRISIL D
Synergy Green Industries Pvt Ltd        TL                 CRISIL BB-     250.3   Upgraded from
                                                                                  CRISIL D
Thakardhani Agro Product Pvt Ltd        CC                 CRISIL BB-     110     Upgraded from
                                                                                  CRISIL B+
Thakardhani Agro Product Pvt Ltd        TL                 CRISIL BB-     75      Upgraded from
                                                                                  CRISIL B+
Tirupati Municipal Corporation          Corporate Credit   CCR BBB        -       Assigned
                                        Rating
Universal Precision Screws              TL                 CRISIL BBB     17      Reaffirmed
Universal Precision Screws              Proposed LT Bk     CRISIL BBB     15      Reaffirmed
                                        Loan Fac
Vedang Cellular Services Pvt Ltd        CC                 CRISIL BBB-    62      Upgraded from
                                                                                  CRISIL BB+
Vedang Cellular Services Pvt Ltd        Proposed LT Bk     CRISIL BBB-    36.5    Upgraded from
                                        Loan Fac                                  CRISIL BB+
Vedang Radio Technology Pvt Ltd         CC                 CRISIL BBB-    50      Upgraded from
                                                                                  CRISIL BB+
Vedang Radio Technology Pvt Ltd         Proposed LT Bk     CRISIL BBB-    48.5    Upgraded from
                                        Loan Fac                                  CRISIL BB+
Vikas Chain and Jewellery Pvt Ltd       CC                 CRISIL B+      117.5   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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