February 6, 2017 / 5:21 AM / 6 months ago

CRISIL ratings for Indian debt instruments-Feb 6

Feb 6 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of February 3, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Bajaj Finance Ltd                       ST Bk Fac          CRISIL A1+     2750    Reaffirmed
Bathero Sanitary LLP                    BG                 CRISIL A4      4       Reaffirmed
Bipin Engineers Pvt Ltd                 BG                 CRISIL A4      5       Reaffirmed
Bipin Engineers Pvt Ltd                 LOC                CRISIL A4      5       Reaffirmed
L&T Shipbuilding Ltd                    Proposed NFBL      CRISIL A1+     8100    Reaffirmed
Maxwell                                 LOC                CRISIL A4      130     Reaffirmed
MJ Grain Products Pvt Ltd               BG                 CRISIL A4+     5       Reaffirmed
Palaniappa Electronics                  BG                 CRISIL A4      10      Assigned
Rupesh Kumar and Sons                   Packing Credit     CRISIL A4+     80      Assigned
Spire Cera-Frit Pvt Ltd                 LOC & BG           CRISIL A3      60      Reaffirmed
Subhash Kumar Agrawal - Raigarh         BG                 CRISIL A4+     190.1   Reaffirmed
Sun Pharmaceutical Industries Ltd       BG@                CRISIL A1+     260     Reaffirmed
Sun Pharmaceutical Industries Ltd       LOC$$              CRISIL A1+     790     Reaffirmed
Vasanth Constructions                   BG                 CRISIL A4      60      Assigned
Zirconia Cera Tech Glazes               BG                 CRISIL A3      15      Reaffirmed


LONG TERM RATINGS:
-------------------
A R S Fabrics Pvt Ltd                   TL                 CRISIL B+      100     Reaffirmed
Amarjothi Spinning Mills Ltd            CC                 CRISIL BBB+    100     Assigned
ARR Infra Promoters                     Overdraft          CRISIL B       50      Assigned
Avant Trading Company Pvt Ltd           Overdraft          CRISIL B+      50      CRISIL B+
Avant Trading Company Pvt Ltd           Proposed LT Bk     CRISIL B+      20      CRISIL B+
                                        Loan Fac
Bajaj Finance Ltd                       CC & WC demand loanCRISIL AAA     29500   Reaffirmed
Bajaj Finance Ltd                       LT Bk Fac          CRISIL AAA     135580.4Reaffirmed
Bajaj Finance Ltd                       Proposed LT Bk     CRISIL AAA     42169.6 Reaffirmed
                                        Loan Fac
Bathero Sanitary LLP                    CC                 CRISIL B-      12.5    Downgraded
                                                                                  from CRISIL B
Bathero Sanitary LLP                    LT Loan            CRISIL B-      45      Downgraded
                                                                                  from CRISIL B
Bathero Sanitary LLP                    Proposed LT Bk     CRISIL B-      38.5    Downgraded
                                        Loan Fac                                  from CRISIL B
Bipin Engineers Pvt Ltd                 CC                 CRISIL B-      35      Upgraded from
                                                                                  CRISIL C
Bipin Engineers Pvt Ltd                 Proposed LT Bk     CRISIL B-      27.4    Upgraded from
                                        Loan Fac                                  CRISIL C
Bipin Engineers Pvt Ltd                 TL                 CRISIL B-      27.6    Upgraded from
                                                                                  CRISIL C
BOI AXA Liquid Fund                     BOI AXA Liquid     CRISIL AAAmfs  -       Reaffirmed
                                        Fund
HI-TECH AGRO FOOD Pvt Ltd               CC                 CRISIL B+      82.5    Assigned
Jajodia Exports Pvt Ltd                 CC                 CRISIL B+      75      Assigned
Jajodia Exports Pvt Ltd                 Proposed CC Limit  CRISIL B+      5       Assigned
Jay Enterprises - Mumbai                CC                 CRISIL B+      100     Assigned
Jay Enterprises - Mumbai                Proposed CC Limit  CRISIL B+      150     Assigned
Kadambri Healthcare Pvt Ltd             LT Loan            CRISIL B-      130.5   Assigned
L&T Shipbuilding Ltd                    FB Fac             CRISIL AA-     5250    Reaffirmed
L&T Shipbuilding Ltd                    Non-FBL            CRISIL AA-     15400   Reaffirmed
L&T Shipbuilding Ltd                    Proposed FB Bk     CRISIL AA-     1250    Reaffirmed
                                        Limits
Maxwell                                 CC                 CRISIL B-      45      Reaffirmed
Mewar Spices                            Proposed LT Bk     CRISIL B+      6.9     Assigned
                                        Loan Fac
Mewar Spices                            CC                 CRISIL B+      50      Assigned
Mewar Spices                            LT Loan            CRISIL B+      30      Assigned
MJ Grain Products Pvt Ltd               CC                 CRISIL BB      120     Upgraded from
                                                                                  CRISIL BB-
MJ Grain Products Pvt Ltd               TL                 CRISIL BB      56.9    Upgraded from
                                                                                  CRISIL BB-
Palaniappa Electronics                  CC                 CRISIL B+      100     Assigned
Pasupati Breeding Farm Pvt Ltd          Proposed LT Bk     CRISIL BBB-    200     Reaffirmed
                                        Loan Fac
Radhadamodar Multipurpose Coldstorage   CC                 CRISIL B+      67.5    Assigned
Pvt Ltd
Radhadamodar Multipurpose Coldstorage   TL                 CRISIL B+      20      Assigned
Pvt Ltd
Rocksand Minerals Pvt Ltd               CC                 CRISIL BB-     94      Reaffirmed
Rocksand Minerals Pvt Ltd               LT Loan            CRISIL BB-     26      Reaffirmed
Rupesh Kumar and Sons                   Foreign Bill       CRISIL BB      45      Assigned
                                        Discounting
Sion Ceramics Pvt Ltd                   CC                 CRISIL B       30      Downgraded
                                                                                  from CRISIL B+
Sion Ceramics Pvt Ltd                   Proposed LT Bk     CRISIL B       33.2    Downgraded
                                        Loan Fac                                  from CRISIL B+
Sion Ceramics Pvt Ltd                   TL                 CRISIL B       61.8    Downgraded
                                                                                  from CRISIL B+
Spire Cera-Frit Pvt Ltd                 CC                 CRISIL BBB-    85      Reaffirmed
Sri Adhikari Brothers Television        TL                 CRISIL BBB-    750     Downgraded
Network Ltd                                                                       from CRISIL
                                                                                  BBB
Subhash Kumar Agrawal - Raigarh         CC                 CRISIL BB+     0.9     Reaffirmed
Subhash Kumar Agrawal - Raigarh         Proposed BG        CRISIL BB+     4       Assigned
Sudesh Cotton Ginning and Pressing      CC                 CRISIL B+      30      Upgraded from
Factory                                                                           CRISIL B

Sudesh Cotton Ginning and Pressing      Warehouse Receipts CRISIL B+      60      Upgraded from
Factory                                                                           CRISIL B
Sun Pharmaceutical Industries Ltd       CC$                CRISIL AAA     710     Reaffirmed
@ Fully interchangeable with letter of credit
Sun Projects (India) Pvt Ltd            Overdraft          CRISIL B+      30      Assigned
$ Interchangeable with working capital demand loan; fully interchangeable with non-fund-based
facilities
Sun Projects (India) Pvt Ltd            CC/ Overdraft Fac  CRISIL B+      10      Assigned
$$ Fully interchangeable with bank guarantee
Sun Projects (India) Pvt Ltd            LT Loan            CRISIL B+      30      Assigned
Vasanth Constructions                   TL                 CRISIL B+      10      Assigned
Vasanth Constructions                   CC                 CRISIL B+      150     Assigned
Zirconia Cera Tech Glazes               CC                 CRISIL BBB-    52.5    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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