February 13, 2017 / 5:44 AM / 5 months ago

CRISIL ratings for Indian debt instruments-Feb 13

21 Min Read

    Feb 13 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of February 10, 2017.


COMPANY                                 INSTRUMENT          RATING        AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------          ------        -----   ---------
SHORT TERM RATINGS:
-------------------
A. S. Enterprise                        BG                 CRISIL A4+     85      Reaffirmed
Aauraa International                    Packing Credit     CRISIL A4+     40      Reaffirmed
Control Print Ltd                       LOC                CRISIL A2      30      Assigned
                                                                                  Suspension
                                                                                  Revoked
Edelweiss Commodities Services Ltd      ST Bk Fac          CRISIL A1+     600     Reaffirmed
Edelweiss Commodities Services Ltd      Standby LOC        CRISIL A1+     1520    Reaffirmed
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     5000    Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis.   
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     25000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis.   
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     15000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis.   
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     10000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis.   
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     25000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis.   
Edelweiss Commodities Services Ltd      ST Debt            CRISIL A1+     70000   Reaffirmed
Fab-Tech Works and Constructions Pvt LtdBG                 CRISIL A3      310     Reaffirmed
Gopani Iron and Power India Pvt Ltd.    LOC & BG           CRISIL A4+     1060    Reaffirmed
Gujarat Organics Ltd                    Bill Discounting   CRISIL A1+     19.3    Upgraded from
                                        under LOC                                 CRISIL A1
Gujarat Organics Ltd                    LOC#               CRISIL A1+     60      Upgraded from
                                                                                  CRISIL A1
 #Fully interchangeable with bank guarantee & buyer's credit
Heera Panna Communications Pvt Ltd      BG                 CRISIL A4      25      Assigned
                                                                                  Suspension
                                                                                  Revoked
Indtech Interior & Contractors Pvt Ltd  BG                 CRISIL A4      60      Assigned
                                                                                  Suspension
                                                                                  Revoked
Kamdhenu Agro-Chem Industries           LOC                CRISIL A4+     40      Reaffirmed
Man Industries India Ltd                LOC & BG**         CRISIL A2      14950   Downgraded
                                                                                  from CRISIL
                                                                                  A2+
** Includes sub-limits for buyer's credit    
Man Industries India Ltd                Proposed ST Bk     CRISIL A2      4750    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  A2+
Paharpur Cooling Towers Ltd             BG*                CRISIL A1      2500    Reaffirmed
* Interchageable with letter of credit amounting Rs 160 crore and buyers credit amounting Rs 70
crore
Paharpur Cooling Towers Ltd             LOC & BG           CRISIL A1      6000    Reaffirmed
R.K.Constructions - Parbhani            BG                 CRISIL A4+     10      Assigned
Roop Telsonic Ultrasonix Ltd            BG                 CRISIL A4+     20      Reaffirmed
Shiel Autos                             BG                 CRISIL A4+     19.5    Upgraded from
                                                                                  CRISIL A4
Shiel Autos                             Overdraft          CRISIL A4+     45      Upgraded from
                                                                                  CRISIL A4
Sisam Ceramics Pvt Ltd                  BG                 CRISIL A4+     22.5    Reaffirmed
SPEL Semiconductor Ltd                  Proposed ST Bk     CRISIL D       150     Reaffirmed
                                        Loan Fac
The Haryana State Cooperative Supply    ST Loan            CRISIL A2+     46300   Reassigned
and Marketing Federation Ltd
Vamshadhara Paper Mills Ltd             BG                 CRISIL A4+     5       Reaffirmed
Vamshadhara Paper Mills Ltd             LOC                CRISIL A4+     250     Reaffirmed
Vamshadhara Paper Mills Ltd             Proposed BG        CRISIL A4+     5       Reaffirmed
Vamshadhara Paper Mills Ltd             Proposed LOC       CRISIL A4+     200     Reaffirmed
Venture Power Systems India Pvt Ltd     Packing Credit     CRISIL A4+     150     Downgraded
                                                                                  from CRISIL A3
Venture Power Systems India Pvt Ltd     Packing Credit in  CRISIL A4+     60      Downgraded
                                        Foreign Currency                          from CRISIL A3
Vijay Construction - Beed               BG                 CRISIL A4+     50      Assigned
                                                                                  Suspension
                                                                                  Revoked
Vivan Steels Pvt Ltd                    BG                 CRISIL A4+     5       Upgraded from
                                                                                  CRISIL A4
VRC Constructions India Pvt Ltd         BG                 CRISIL A3+     1720    Reaffirmed

LONG TERM RATINGS:
-------------------
A. S. Enterprise                        CC                 CRISIL BB      3.5     Reaffirmed
Aauraa International                    Proposed CC Limit  CRISIL BB      50      Upgraded from
                                                                                  CRISIL BB-
Aauraa International                    TL                 CRISIL BB      10      Upgraded from
                                                                                  CRISIL BB-
Air India Ltd                           NCD                CRISIL AAA(SO) 136000  Reaffirmed
Apex Healthcare Ltd                     CC                 CRISIL BB-     75      Reaffirmed
Apex Healthcare Ltd                     Proposed CC Limit  CRISIL BB-     28.9    Reaffirmed
Aryan Silk Mills                        CC                 CRISIL B+      70      Assigned
Control Print Ltd                       CC                 CRISIL BBB+    270     Assigned
                                                                                  Suspension
                                                                                  Revoked
Edelweiss Commodities Services Ltd      LT Bk Fac          CRISIL AA      3250    Reaffirmed
Edelweiss Commodities Services Ltd      Overdraft          CRISIL AA      7000    Reaffirmed
Edelweiss Commodities Services Ltd       NCD               CRISIL AA/     10000   Assigned
Edelweiss Commodities Services Ltd       NCD               CRISIL AA/     10000   Reaffirmed
Edelweiss Commodities Services Ltd       PS                CRISIL AA/     1050    Reaffirmed
Fab-Tech Works and Constructions Pvt LtdCC                 CRISIL BBB-    200     Reaffirmed

Gopani Iron and Power India Pvt Ltd.    CC                 CRISIL BB+     170     Upgraded from
                                                                                  CRISIL BB
Gopani Iron and Power India Pvt Ltd.    Proposed LT Bk     CRISIL BB+     160     Upgraded from
                                        Loan Fac                                  CRISIL BB
Gopinath Dairy Products Pvt Ltd         CC                 CRISIL D       9       Downgraded
                                                                                  from CRISIL B-
Gopinath Dairy Products Pvt Ltd         Proposed CC Limit  CRISIL D       1       Downgraded
                                                                                  from CRISIL B-
Gopinath Dairy Products Pvt Ltd         Rupee TL           CRISIL D       300     Downgraded
                                                                                  from CRISIL B-
Gujarat Organics Ltd                    CC@                CRISIL A+      100     Upgraded from
                                                                                  CRISIL A
@ Fully interchangeable with export packing credit/post shipment credit/working capital demand
loan
Heera Panna Communications Pvt Ltd      CC                 CRISIL B       90      Assigned
                                                                                  Suspension
                                                                                  Revoked
Heera Panna Communications Pvt Ltd      Proposed LT Bk     CRISIL B       5       Assigned
                                        Loan Fac                                  Suspension
                                                                                  Revoked
Indtech Interior & Contractors Pvt Ltd  Secured Overdraft  CRISIL B+      80      Assigned
                                        Fac                                       Suspension
                                                                                  Revoked
Jyotichand Bhaichand Saraf and Sons Pvt CC                 CRISIL BB+     150     Assigned
Ltd                                                                               Suspension
                                                                                  Revoked
Kamdhenu Agro-Chem Industries           CC                 CRISIL BB+     60      Reaffirmed
KMC Plastochem                          Proposed LT Bk     CRISIL BB-     65      Assigned
                                        Loan Fac
KMC Plastochem                          CC                 CRISIL BB-     40      Assigned
KMC Plastochem                          LOC                CRISIL BB-     45      Assigned
Man Industries India Ltd                CC*                CRISIL BBB+    1100    Downgraded
                                                                                  from CRISIL A-
* Interchangeable with other fund-based and non-fund-based facilities
Man Industries India Ltd                External           CRISIL BBB+    3100    Downgraded
                                        Commercial                                from CRISIL A-
                                        Borrowings
Man Industries India Ltd                Proposed LT Bk     CRISIL BBB+    1000    Downgraded
                                        Loan Fac                                  from CRISIL A-
Mistair Health And Hygiene Pvt Ltd      CC                 CRISIL B+      8       Reaffirmed
Mistair Health And Hygiene Pvt Ltd      Proposed LT Bk     CRISIL B+      47      Reaffirmed
                                        Loan Fac
Mistair Health And Hygiene Pvt Ltd      TL                 CRISIL B+      55      Reaffirmed
Paharpur Cooling Towers Ltd             CC                 CRISIL A+      1500    Reaffirmed
Paharpur Cooling Towers Ltd             LT Bk Fac          CRISIL A+      500     Reaffirmed
R.K.Constructions - Parbhani            Proposed CC Limit  CRISIL BB-     30      Assigned
R.K.Constructions - Parbhani            CC                 CRISIL BB-     40      Assigned
Rachana Constructions - Pune            Proposed LT Bk     CRISIL B       50      Assigned
                                        Loan Fac
Raosahebdada Pawar Ghodganga Sahakari   ST Loan            CRISIL D       92      Assigned
Sakhar Karkhana Ltd                                                               Suspension
                                                                                  Revoked
Rohini Minerals Pvt Ltd                 CC                 CRISIL BBB     1500    Upgraded from
                                                                                  CRISIL BBB-
Rohini Minerals Pvt Ltd                 TL                 CRISIL BBB     114     Upgraded from
                                                                                  CRISIL BBB-
Roop Telsonic Ultrasonix Ltd            CC                 CRISIL BB+     90      Reaffirmed
Roop Telsonic Ultrasonix Ltd            Proposed LT Bk     CRISIL BB+     0.6     Reaffirmed
                                        Loan Fac
Roop Telsonic Ultrasonix Ltd            TL                 CRISIL BB+     39.4    Reaffirmed
Satya Srinivasa Enterprises             CC                 CRISIL B       80      Assigned
Shanker Cotgin Industries               CC                 CRISIL D       60      Downgraded
                                                                                  from CRISIL B+
Shanker Cotgin Industries               Proposed CC Limit  CRISIL D       20      Downgraded
                                                                                  from CRISIL B+
Shiel Autos                             CC                 CRISIL BB-     75      Upgraded from
                                                                                  CRISIL B+
Shiel Autos                             Proposed LT Bk     CRISIL BB-     10.5    Upgraded from
                                        Loan Fac                                  CRISIL B+
Shri Amarnath Milk Foods Pvt Ltd        CC                 CRISIL BB      160     Upgraded from
                                                                                  CRISIL BB-
Shri Amarnath Milk Foods Pvt Ltd        LT Loan            CRISIL BB      90      Upgraded from
                                                                                  CRISIL BB-
Sisam Ceramics Pvt Ltd                  CC                 CRISIL BB      60      Upgraded from
                                                                                  CRISIL BB-
Sisam Ceramics Pvt Ltd                  Proposed LT Bk     CRISIL BB      88.3    Upgraded from
                                        Loan Fac                                  CRISIL BB-
Sisam Ceramics Pvt Ltd                  TL                 CRISIL BB      29.2    Upgraded from
                                                                                  CRISIL BB-
SPEL Semiconductor Ltd                  LOC                CRISIL D       40      Reaffirmed
SPEL Semiconductor Ltd                  Packing Credit     CRISIL D       110     Reaffirmed
SPEL Semiconductor Ltd                  Proposed LT Bk     CRISIL D       450     Reaffirmed
                                        Loan Fac
Sri Rajeshwara Hatcheries Pvt Ltd       CC                 CRISIL BBB     240     Upgraded from
                                                                                  CRISIL BBB-
Sri Rajeshwara Hatcheries Pvt Ltd       Proposed LT Bk     CRISIL BBB     32.9    Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Sri Rajeshwara Hatcheries Pvt Ltd       TL                 CRISIL BBB     191     Upgraded from
                                                                                  CRISIL BBB-
The Haryana State Cooperative Supply    CC                 CRISIL A-      16500   Reaffirmed
and Marketing Federation Ltd
V.R.N. Enterprises Pvt Ltd              CC                 CRISIL D       200     Downgraded
                                                                                  from CRISIL B+
Vamshadhara Paper Mills Ltd             CC                 CRISIL BB+     257.5   Reaffirmed
Vamshadhara Paper Mills Ltd             Proposed CC Limit  CRISIL BB+     200     Reaffirmed
Vamshadhara Paper Mills Ltd             Proposed TL        CRISIL BB+     82.5    Reaffirmed
Vamshadhara Paper Mills Ltd             TL                 CRISIL BB+     200     Reaffirmed
Vijay Construction - Beed               CC                 CRISIL BB-     50      Assigned
                                                                                  Suspension
                                                                                  Revoked
Vijay Construction - Beed               Proposed LT Bk     CRISIL BB-     20      Assigned
                                        Loan Fac                                  Suspension
                                                                                  Revoked
Vivan Steels Pvt Ltd                    CC                 CRISIL BB      61      Upgraded from
                                                                                  CRISIL B+
Vivan Steels Pvt Ltd                    LT Loan            CRISIL BB      15      Upgraded from
                                                                                  CRISIL B+
VRC Constructions India Pvt Ltd         CC                 CRISIL BBB     260     Reaffirmed
VRC Constructions India Pvt Ltd         Overdraft          CRISIL BBB     100     Reaffirmed
Zeon Lifesciences Ltd                   CC                 CRISIL BBB     120     Upgraded from
                                                                                  CRISIL BBB-
Zeon Lifesciences Ltd                   TL                 CRISIL BBB     100     Upgraded from
                                                                                  CRISIL BBB-
--------------------------------------------------------------------------------------------
$: 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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