February 7, 2017 / 4:19 AM / 7 months ago

CRISIL ratings for Indian debt instruments-Feb 7

Feb 7 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of February 6, 2017.


COMPANY                               INSTRUMENT           RATING        AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                ----------           ------        -----   ---------
SHORT TERM RATINGS:
-------------------
Ascent Engineers and Infrastructures    BG                 CRISIL A4+     86.5    Reaffirmed
India Pvt Ltd
Astra Chemtech Pvt Ltd                  LOC                CRISIL A4      30      Reaffirmed
Astra Chemtech Pvt Ltd                  Packing Credit     CRISIL A4      15      Reaffirmed
Balaji Heavy Lifters Pvt Ltd            BG                 CRISIL A4+     90      Reaffirmed
Bhargavi Automobiles Pvt Ltd            BG                 CRISIL A4      10      Reaffirmed
Cresmac Foundry Pvt Ltd                 BG                 CRISIL A3      9.5     Notice of
                                                                                  Withdrawal
Cresmac Foundry Pvt Ltd                 Derivatives Fac    CRISIL A3      1.4     Notice of
                                                                                  Withdrawal
Cresmac Foundry Pvt Ltd                 Export Packing     CRISIL A3      34      Notice of
                                        Credit                                    Withdrawal
Cresmac Foundry Pvt Ltd                 Foreign Bill       CRISIL A3      4       Notice of
                                        Discounting                               Withdrawal
Cresmac Foundry Pvt Ltd                 LOC                CRISIL A3      0.7     Notice of
                                                                                  Withdrawal
D. Navinchandra Exports Pvt Ltd         Packing Credit     CRISIL A2      82      Upgraded from
                                                                                  CRISIL A3+
D. Navinchandra Exports Pvt Ltd         Post Shipment      CRISIL A2      1093    Upgraded from
                                        Credit                                    CRISIL A3+
Deesan Agro Tech Pvt Ltd                BG                 CRISIL A3      10      Reaffirmed
Deesan Agro Tech Pvt Ltd                Foreign Exchange   CRISIL A3      35      Reaffirmed
                                        Forward
Frontline Exports Pvt Ltd               Packing Credit     CRISIL A4+     50      Assigned
Indira Securities Pvt Ltd               BG                 CRISIL A4+     220     Notice of
                                                                                  Withdrawal
Malu Electrodes Pvt Ltd                 LOC                CRISIL A1+     500      Upgraded
                                                                                  from CRISIL A1
Maverick Holdings and Investments Pvt   BG                 CRISIL A4+     150     Reaffirmed
Ltd
Maverick Holdings and Investments Pvt   Overdraft          CRISIL A4+     40      Reaffirmed
Ltd
Rhythm Knit India Pvt Ltd               Packing Credit     CRISIL A4      67      Reaffirmed
Rhythm Knit India Pvt Ltd               Post Shipment      CRISIL A4      50      Reaffirmed
                                        Credit
Tecumseh Products India Pvt Ltd         ST Bk Fac          CRISIL A4+     535     Reaffirmed
Tirupur Pandit Hosiery Millss Pvt Ltd   Foreign Bill       CRISIL A4      60      Reaffirmed
                                        Discounting
Tirupur Pandit Hosiery Millss Pvt Ltd   Packing Credit     CRISIL A4      248     Reaffirmed

LONG TERM RATINGS:
-------------------
Ahmedabad Municipal Corporation         Corporate Credit   CCR AA         -       Upgraded from
                                        Rating                                    CCR AA-
Ahmedabad Municipal Corporation         Tax-Free Bonds     CRISIL AA/St   2000    Upgraded from
                                                                                  CRISIL AA-
Ascent Engineers and Infrastructures    CC                 CRISIL BB+     6       Reaffirmed
India Pvt Ltd
Ascent Engineers and Infrastructures    Overdraft          CRISIL BB+     50      Reaffirmed
India Pvt Ltd
Ascent Engineers and Infrastructures    Proposed CC Limit  CRISIL BB+     7.5     Reaffirmed
India Pvt Ltd
Astra Chemtech Pvt Ltd                  CC                 CRISIL B+      70      Upgraded from
                                                                                  CRISIL B
Astra Chemtech Pvt Ltd                  Proposed LT Bk     CRISIL B+      40      Upgraded from
                                        Loan Fac                                  CRISIL B
Astra Chemtech Pvt Ltd                  WC Demand Loan     CRISIL B+      70      Upgraded from
                                                                                  CRISIL B
Balaji Heavy Lifters Pvt Ltd            Buyer`s Credit     CRISIL BB+     175     Reaffirmed
Balaji Heavy Lifters Pvt Ltd            CC                 CRISIL BB+     11      Reaffirmed
Balaji Heavy Lifters Pvt Ltd            LT Loan            CRISIL BB+     70      Reaffirmed
Balaji Heavy Lifters Pvt Ltd            Proposed LT Bk     CRISIL BB+     99      Reaffirmed
                                        Loan Fac
Bhargavi Automobiles Pvt Ltd            CC                 CRISIL B+      330     Reaffirmed
Cresmac Foundry Pvt Ltd                 Standby Line of    CRISIL BBB-    5       Reaffirmed
                                        Credit
D. Navinchandra Exports Pvt Ltd         Export Packing     CRISIL BBB+    1870    Upgraded from
                                        Credit                                    CRISIL BBB
D. Navinchandra Exports Pvt Ltd         Proposed LT Bk     CRISIL BBB+    355     Upgraded from
                                        Loan Fac                                  CRISIL BBB
Deesan Agro Tech Pvt Ltd                CC                 CRISIL BBB-    900     Reaffirmed
Deesan Agro Tech Pvt Ltd                Proposed LT Bk     CRISIL BBB-    5       Reaffirmed
                                        Loan Fac
Deesan Agro Tech Pvt Ltd                Proposed WC Fac    CRISIL BBB-    150     Reaffirmed
Deesan Agro Tech Pvt Ltd                Standby Line of    CRISIL BBB-    50      Reaffirmed
                                        Credit
Deesan Agro Tech Pvt Ltd                Warehouse Receipts CRISIL BBB-    200     Reaffirmed
Deesan Agro Tech Pvt Ltd                TL                 CRISIL BBB-    20      Reaffirmed
Diamond Engineering (Chennai) Pvt Ltd   CC*                CRISIL D       407.9   Reaffirmed
*Includes letter of credit sub-limit of Rs.0.80 crore.
Diamond Engineering (Chennai) Pvt Ltd   Funded Interest TL CRISIL D       157.1   Reaffirmed
Diamond Engineering (Chennai) Pvt Ltd   LOC & BG           CRISIL D       150     Reaffirmed
Diamond Engineering (Chennai) Pvt Ltd   LT Loan            CRISIL D       150     Reaffirmed
Diamond Engineering (Chennai) Pvt Ltd   TL                 CRISIL D       188.3   Reaffirmed
Diamond Engineering (Chennai) Pvt Ltd   WC TL              CRISIL D       1264.4  Reaffirmed
Diamond Engineering (Chennai) Pvt Ltd   CC#                CRISIL D       200     Reaffirmed
#Includes export packing credit sub-limit of Rs.10.0 crore and foreign bill discounting
sub-limit of Rs.10.0 crore.
Dwarkadheesh Haveli Builders            TL                 CRISIL D       85      Assigned
Frontline Exports Pvt Ltd               Foreign Bill       CRISIL BB      20      Assigned
                                        Discounting
Frontline Exports Pvt Ltd               Proposed LT Bk     CRISIL BB      10      Assigned
                                        Loan Fac
Frontline Exports Pvt Ltd               TL                 CRISIL BB      20      Assigned
Hakim Kishori Lal Educational and       CC/ Overdraft Fac  CRISIL BB-     50      Assigned
Charitable Society
Hakim Kishori Lal Educational and       Proposed LT Bk     CRISIL BB-     4.8     Assigned
Charitable Society                      Loan Fac
Jenious Clothing Pvt Ltd                CC                 CRISIL B-      300     Assigned
Jenious Clothing Pvt Ltd                Corporate Loan     CRISIL B-      630     Assigned
Jyotichand Bhaichand Saraf              CC                 CRISIL BB      50      Assigned
KBR Homes India Pvt Ltd                 TL                 CRISIL B+      238     Assigned
Kirpa Rice Mills                        CC                 CRISIL B+      290     Reaffirmed
KRS Pharmaceuticals Pvt Ltd             CC                 CRISIL B-      17.2    Downgraded
                                                                                  from CRISIL B+
KRS Pharmaceuticals Pvt Ltd             Proposed LT Bk     CRISIL B-      2.8     Downgraded
                                        Loan Fac                                  from CRISIL B+
KRS Pharmaceuticals Pvt Ltd             TL                 CRISIL B-      76.1    Downgraded
                                                                                  from CRISIL B+
Malu Electrodes Pvt Ltd                 CC                 CRISIL A+      167.5   Upgraded from
                                                                                  CRISIL A
Malu Electrodes Pvt Ltd                 Proposed LT Bk     CRISIL A+      52.5    Upgraded from
                                        Loan Fac                                  CRISIL A
Maverick Holdings and Investments Pvt   Lease Rental       CRISIL BB      1580    Reaffirmed
Ltd                                     Discounting Loan*
* The total LRD of Rs.150 cr from Bank of Baroda and Syndicate Bank will be jointly held by
'Maverick Holdings and Investments Pvt Ltd' and 'Euroamer Garuda Resorts India Pvt Ltd'
Mudhai Dairy Pvt Ltd                    LT Loan            CRISIL D       37.5    Assigned
NgD Jewels                              CC                 CRISIL B       69.5    Reaffirmed
NgD Jewels                              Proposed LT Bk     CRISIL B       4.5     Reaffirmed
                                        Loan Fac
NgD Jewels                              TL                 CRISIL B       6       Reaffirmed
Rhythm Knit India Pvt Ltd               LT Loan            CRISIL B+      3       Reaffirmed
Shree Bishnu Feed Industries            CC                 CRISIL D       83.5    Downgraded
                                                                                  from CRISIL B-
Shri Gajanan Food Industries            CC                 CRISIL BB-     60      Reaffirmed
Shri Gajanan Rice Mill                  CC                 CRISIL BB-     60      Reaffirmed
Shubham Industries-Hyderabad            CC                 CRISIL B+      60.5    Reaffirmed
Singhal Business Pvt Ltd                CC                 CRISIL B+      90      Reaffirmed
Sitaram Denims India Ltd                TL                 CRISIL BB-     671     Assigned
Sitaram Denims India Ltd                CC                 CRISIL BB-     75      Assigned
Sitaram Denims India Ltd                Proposed LT Bk     CRISIL BB-     4       Assigned
                                        Loan Fac
T S R Cotton Ginning Mill               CC                 CRISIL B+      100     Reaffirmed
Tecumseh Products India Pvt Ltd         LT Bk Fac          CRISIL BB-     780     Reaffirmed
Tecumseh Products India Pvt Ltd         Proposed LT Bk     CRISIL BB-     35      Reaffirmed
                                        Loan Fac
Tirupur Pandit Hosiery Millss Pvt Ltd   Foreign Bill       CRISIL B       15      Reaffirmed
                                        Discounting
Tirupur Pandit Hosiery Millss Pvt Ltd   Foreign LOC        CRISIL B       15      Reaffirmed
Tirupur Pandit Hosiery Millss Pvt Ltd   Proposed LT Bk     CRISIL B       172     Reaffirmed
                                        Loan Fac
Tirupur Pandit Hosiery Millss Pvt Ltd   Overdraft          CRISIL B       10      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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