February 22, 2017 / 4:07 AM / 5 months ago

CRISIL ratings for Indian debt instruments-Feb 22

24 Min Read

    Feb 22 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of February 21, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
ABC Bearings Ltd                        LOC & BG           CRISIL A2      100     Reaffirmed
Asian Fab Tec Ltd                       BG                 CRISIL A3+     1300    Reaffirmed
BP Equities Pvt Ltd                     BG                 CRISIL A3      950     Notice of
                                                                                  Withdrawal
Centum Electronics Ltd                  BG                 CRISIL A2      1117    Reaffirmed
Centum Electronics Ltd                  LOC                CRISIL A2      120     Reaffirmed
Centum Rakon India Pvt Ltd              BG                 CRISIL A3+     30      Reaffirmed
Centum Rakon India Pvt Ltd              LOC                CRISIL A3+     20      Reaffirmed
Centum Rakon India Pvt Ltd              Post Shipment      CRISIL A3+     100     Reaffirmed
                                        Credit
Emboza Granito Pvt Ltd                  BG                 CRISIL A4      40      Reaffirmed
Foremost International Pvt Ltd          Foreign Bill       CRISIL D       90      Downgraded
                                        Discounting                               from CRISIL A4
Foremost International Pvt Ltd          Foreign LOC        CRISIL D       26.5    Downgraded
                                                                                  from CRISIL A4
Foremost International Pvt Ltd          Packing Credit     CRISIL D       90      Downgraded
                                                                                  from CRISIL A4
Jawahar Shetkari Sahakari Soot Girni LtdBG                 CRISIL A4      60.3    Reaffirmed
Jawahar Shetkari Sahakari Soot Girni LtdLOC                CRISIL A4      200     Reaffirmed
Kumar Spintex Pvt Ltd                   BG                 CRISIL A4+     15      Reaffirmed
Mahamaya Casting Pvt Ltd                BG                 CRISIL A4      8.1     Reaffirmed
Mahamaya Casting Pvt Ltd                Foreign Exchange   CRISIL A4      50      Reaffirmed
                                        Forward
Malu Paper Mills Ltd                    BG                 CRISIL A4+     22      Reaffirmed
Malu Paper Mills Ltd                    LOC                CRISIL A4+     120     Reaffirmed
Ommi Forge Pvt Ltd                      BG                 CRISIL A4      25      Reaffirmed
ONGC Tripura Power Co. Ltd              LOC & BG           CRISIL A1      1000    Reaffirmed
Pharmchem                               Packing Credit*    CRISIL A4      20      Assigned
*100% interchangeable with foreign bill purchase
Pharmchem                               LOC                CRISIL A4      99      Assigned
Purita Water Solutions Pvt Ltd          BG                 CRISIL A4      25      Reaffirmed
Purita Water Solutions Pvt Ltd          Inland/Import LOC  CRISIL A4      15      Reaffirmed
PV Knit Fashions                        Packing Credit     CRISIL A4      45      Assigned
PV Knit Fashions                        BG                 CRISIL A4      1.5     Assigned
PV Knit Fashions                        Bill Discounting   CRISIL A4      30      Assigned
R. N. Oswal Hosiery Factory             LOC                CRISIL A4+     9       Reaffirmed
Raghav Export                           BG                 CRISIL A4+     3       Reaffirmed
Raghav Export                           Foreign LOC        CRISIL A4+     5       Reaffirmed
Rajendra Singh Kiledar Constructions    BG                 CRISIL A4+     255     Reaffirmed
Pvt Ltd
Rashtriya Chemicals and Fertilizers Ltd Buyer`s Credit^    CRISIL A1+     7500    Reaffirmed
^ Fully interchangeable with Short Term Loan and Working Capital Demand Loan.
Rashtriya Chemicals and Fertilizers Ltd LOC & BG*          CRISIL A1+     24000   Reaffirmed
* Rs 500 Crore is interchangeable with Buyers Credit and SBLC
S. Thartius Engineering Contractors     BG                 CRISIL A4      100     Reaffirmed
Sahara Poultry Farm                     Proposed ST Bk     CRISIL A4      9       Reaffirmed
                                        Loan Fac
Shree Electromelts Ltd                  LOC                CRISIL A4+     500     Reaffirmed
Shri Gautam Ship Breaking Ind. Pvt Ltd  LOC                CRISIL A4      450     Reaffirmed
Speciality Restaurants Ltd              BG                 CRISIL A1      5       Reaffirmed
Steam Equipments Pvt Ltd                Proposed BG        CRISIL A4+     30      Assigned
Steam Equipments Pvt Ltd                BG                 CRISIL A4+     30      Assigned
Surin Automotive Pvt Ltd                Bill               CRISIL A2+     50      Reaffirmed
                                        Pur-Discounting Fac
Surin Automotive Pvt Ltd                LOC & BG           CRISIL A2+     100     Reaffirmed
Technofab Engineering Ltd               BG^^^              CRISIL A2      3750    Reaffirmed
^^^ Includes a letters of credit sub-limit of Rs. 59 crore
Technofab Engineering Ltd               BG^^               CRISIL A2      1350    Reaffirmed
^^ Includes a letters of credit sub-limit of Rs. 25 crore
Technofab Engineering Ltd               BG#                CRISIL A2      1000    Reaffirmed
# Includes a letter of credit sub-limit of Rs. 27 crore
Technofab Engineering Ltd               BG##               CRISIL A2      600     Reaffirmed
## Includes a letter of credit sub-limit of Rs. 15 crore
Technofab Engineering Ltd               BG                 CRISIL A2      1300    Reaffirmed
Thirumalai Chemicals Ltd                LOC                CRISIL A2      3488    Reaffirmed
Varun Beverages Ltd                     LOC                CRISIL A1+     1200    Reaffirmed
VRP Telematics Pvt Ltd                  BG                 CRISIL A4+     50      Assigned
Western Carriers India Ltd              BG                 CRISIL A3+     260     Reaffirmed
Yarlagadda Exports Pvt Ltd              Foreign Exchange   CRISIL A4      2.5     Reaffirmed
                                        Forward

LONG TERM RATINGS:
-------------------
A.R.R. Foods And Consumer Products Pvt  CC                 CRISIL BB      75      Reaffirmed
Ltd
ABC Bearings Ltd                        CC^                CRISIL BBB+    350     Reaffirmed
^Interchangeable with letter of credit/bank guarantee limit to the extent of Rs.5 crore .   
ABC Bearings Ltd                        LT Loan            CRISIL BBB+    255.8   Reaffirmed
ABC Bearings Ltd                        Proposed CC Limit* CRISIL BBB+    50      Reaffirmed
* Interchangeable with letter of credit/bank guarantee limit
ABC Bearings Ltd                        Proposed TL        CRISIL BBB+    594.2   Reaffirmed
Asian Fab Tec Ltd                       CC                 CRISIL BBB     650     Reaffirmed
Asian Fab Tec Ltd                       TL                 CRISIL BBB     150     Reaffirmed
Axolo Ceramic Pvt Ltd                   CC                 CRISIL BBB-    30      Reaffirmed
Axolo Ceramic Pvt Ltd                   Proposed LT Bk     CRISIL BBB-    30      Reaffirmed
                                        Loan Fac
Axolo Ceramic Pvt Ltd                   TL                 CRISIL BBB-    30      Assigned
B. T. Industries Pvt Ltd                CC                 CRISIL B+      60      Assigned
B. T. Industries Pvt Ltd                TL                 CRISIL B+      77.5    Assigned
Balaji Rice Industries - Nellore        CC                 CRISIL B       25      Reaffirmed
Balaji Rice Industries - Nellore        LT Loan            CRISIL B       40      Reaffirmed
Balaji Rice Industries - Nellore        Proposed LT Bk     CRISIL B       5       Reaffirmed
                                        Loan Fac
BP Equities Pvt Ltd                     Overdraft          CRISIL BBB-    1000    Notice of
                                                                                  Withdrawal
Centum Electronics Ltd                  CC                 CRISIL BBB+    340     Reaffirmed
Centum Electronics Ltd                  Export Packing     CRISIL BBB+    350     Reaffirmed
                                        Credit
Centum Electronics Ltd                  LT Loan            CRISIL BBB+    380     Reaffirmed
Centum Electronics Ltd                  Packing Credit     CRISIL BBB+    343     Reaffirmed
Centum Rakon India Pvt Ltd              Export Packing     CRISIL BBB     100     Reaffirmed
                                        Credit
Centum Rakon India Pvt Ltd              Proposed FB Bk     CRISIL BBB     240     Reaffirmed
                                        Limits
Credila Financial Services Pvt Ltd      NCD Issue          CRISIL AA+     2000    Assigned
Credila Financial Services Pvt Ltd      NCD Issue          CRISIL AA+     3000    Reaffirmed
Credila Financial Services Pvt Ltd      NCD Issue          CRISIL AA+     6000    Reaffirmed
Credila Financial Services Pvt Ltd      Subordinated Debt  CRISIL AA+     1000    Reaffirmed
                                        Issue
Emboza Granito Pvt Ltd                  CC                 CRISIL B+      90      Reaffirmed
Emboza Granito Pvt Ltd                  Proposed LT Bk     CRISIL B+      7.5     Reaffirmed
                                        Loan Fac
Emboza Granito Pvt Ltd                  TL                 CRISIL B+      262.5   Reaffirmed

Foremost International Pvt Ltd          LT Loan            CRISIL D       11      Downgraded
                                                                                  from CRISIL B-
Inland Waterways Authority of India     Bond Programme*    CRISIL AAA(SO) 10000   Assigned
* The bonds have been named as "GoI fully serviced bonds" by the Ministry of Finance.
Jawahar Shetkari Sahakari Soot Girni LtdCC                 CRISIL B       400     Reaffirmed
Jawahar Shetkari Sahakari Soot Girni LtdProposed LT Bk     CRISIL B       21.7    Reaffirmed
                                        Loan Fac
Keshranand Cotex Pvt Ltd                CC                 CRISIL B+      40      Reaffirmed
Keshranand Cotex Pvt Ltd                Proposed LT Bk     CRISIL B+      100     Reaffirmed
                                        Loan Fac
Keshranand Cotex Pvt Ltd                TL                 CRISIL B+      30      Reaffirmed
Keshranand Ginning and Pressing Factory CC                 CRISIL B+      60      Reaffirmed
Pvt Ltd
Keshranand Ginning and Pressing Factory Proposed LT Bk     CRISIL B+      5       Reaffirmed
Pvt Ltd                                 Loan Fac
Keshranand Ginning and Pressing Factory Standby Line of    CRISIL B+      5       Reaffirmed
Pvt Ltd                                 Credit
Keshranand Ginning and Pressing Factory Warehouse FinancingCRISIL B+      30      Reaffirmed
Pvt Ltd
Kumar Spintex Pvt Ltd                   CC                 CRISIL BB-     60      Reaffirmed
Kumar Spintex Pvt Ltd                   Proposed TL        CRISIL BB-     8.8     Reaffirmed
Kumar Spintex Pvt Ltd                   TL                 CRISIL BB-     136.2   Reaffirmed
L&T Infra Debt Fund Ltd                 NCD                CRISIL AAA     25000   Assigned
L&T Infra Debt Fund Ltd                 NCD                CRISIL AAA     37500   Reaffirmed
L&T Infra Debt Fund Ltd                 PS                 CRISIL AAA     2500    Reaffirmed
L. V. Dairys - Patas                    CC                 CRISIL BB      120     Reaffirmed
L. V. Dairys - Patas                    TL                 CRISIL BB      54      Reaffirmed
M. Chandravadana                        Lease Rental       CRISIL B+(SO)  50      Assigned
                                        Discounting Loan
Mahamaya Casting Pvt Ltd                CC                 CRISIL B+      82.5    Reaffirmed
Mahamaya Casting Pvt Ltd                Proposed LT Bk     CRISIL B+      9.4     Reaffirmed
                                        Loan Fac
Malebennur Foods Pvt Ltd                CC                 CRISIL B       15      Upgraded from
                                                                                  CRISIL B-
Malebennur Foods Pvt Ltd                LT Loan            CRISIL B       45      Upgraded from
                                                                                  CRISIL B-
Malu Paper Mills Ltd                    CC                 CRISIL BB-     247.5   Reaffirmed
Malu Paper Mills Ltd                    LT Loan            CRISIL BB-     568.9   Reaffirmed
Malu Paper Mills Ltd                    Proposed LT Bk     CRISIL BB-     11.6    Reaffirmed
                                        Loan Fac
Ommi Forge Pvt Ltd                      CC                 CRISIL B       75      Reaffirmed
ONGC Tripura Power Co. Ltd              CC                 CRISIL A+      3000    Reaffirmed
ONGC Tripura Power Co. Ltd              Proposed LT Bk     CRISIL A+      4000    Reaffirmed
                                        Loan Fac
ONGC Tripura Power Co. Ltd              Rupee TL           CRISIL A+      26210   Reaffirmed
Pharmchem                               CC                 CRISIL B+      30      Assigned
Prerna Beverages Pvt Ltd                TL                 CRISIL B+      23.5    Assigned
Prerna Beverages Pvt Ltd                Proposed TL        CRISIL B+      57.5    Assigned
Prerna Beverages Pvt Ltd                CC                 CRISIL B+      4       Assigned
Prerna Beverages Pvt Ltd                Proposed CC Limit  CRISIL B+      15      Assigned
Prince Steel Industries                 CC                 CRISIL B+      70      Assigned
Puneet Steels and Alloys Pvt Ltd        CC                 CRISIL BB-     70      Reaffirmed
Puneet Steels and Alloys Pvt Ltd        LT Loan            CRISIL BB-     10      Reaffirmed
Purita Water Solutions Pvt Ltd          CC                 CRISIL B+      15      Reaffirmed
Purita Water Solutions Pvt Ltd          Proposed LT Bk     CRISIL B+      15      Reaffirmed
                                        Loan Fac
Purita Water Solutions Pvt Ltd          Proposed LT Bk     CRISIL B+      55      Withdrawal
                                        Loan Fac
PV Knit Fashions                        Proposed LT Bk     CRISIL B+      8.5     Assigned
                                        Loan Fac
PV Knit Fashions                        LT Loan            CRISIL B+      15      Assigned
R. N. Oswal Hosiery Factory             CC                 CRISIL BB-     65      Reaffirmed
Radhakrishna Oil Industries             CC                 CRISIL B+      72      Reaffirmed
Raghav Export                           CC                 CRISIL BB-     52      Reaffirmed
Raghav Export                           Proposed LT Bk     CRISIL BB-     20      Reaffirmed
                                        Loan Fac
Raghav Export                           TL                 CRISIL BB-     15      Reaffirmed
Rajendra Singh Kiledar Constructions    CC                 CRISIL BB+     5       Upgraded from
Pvt Ltd                                                                           CRISIL BB
Rasi Foods                              CC/ Overdraft Fac  CRISIL BB-     55      Assigned
Rasi Foods                              Proposed WC Fac    CRISIL BB-     40      Assigned
S. Thartius Engineering Contractors     Overdraft          CRISIL B+      50      Reaffirmed
Sahara Poultry Farm                     CC                 CRISIL B+      55      Reaffirmed
Sahara Poultry Farm                     Credit Limit Under CRISIL B+      11      Reaffirmed
                                        Gold Card
Sarwati Polymers Pvt Ltd                CC                 CRISIL B       30      Reaffirmed
Sarwati Polymers Pvt Ltd                Proposed LT Bk     CRISIL B       28      Reaffirmed
                                        Loan Fac
Sarwati Polymers Pvt Ltd                TL                 CRISIL B       12      Reaffirmed
Shah Virchand Govanji Jewellers Pvt Ltd CC*                CRISIL BBB+    350     Reaffirmed
*Interchangeable with Gold Loan up to a limit of Rs.15 crore.
Shah Virchand Govanji Jewellers Pvt Ltd Proposed LT Bk     CRISIL BBB+    50      Reaffirmed
                                        Loan Fac
Shaji Mathew                            Overdraft          CRISIL B+      61      Assigned
Shaji Mathew                            Proposed LT Bk     CRISIL B+      4       Assigned
                                        Loan Fac
Shree Electromelts Ltd                  CC                 CRISIL BB+     75      Reaffirmed
Shri Gautam Ship Breaking Ind. Pvt Ltd  CC                 CRISIL B+      50      Upgraded from
                                                                                  CRISIL B
Shri Gautam Ship Breaking Ind. Pvt Ltd  Proposed LT Bk     CRISIL B+      22.5    Upgraded from
                                        Loan Fac                                  CRISIL B
Speciality Restaurants Ltd              Overdraft          CRISIL A       165     Reaffirmed
Speciality Restaurants Ltd              Proposed LT Bk     CRISIL A       430     Reaffirmed
                                        Loan Fac
Steam Equipments Pvt Ltd                TL                 CRISIL BB      25      Assigned
Steam Equipments Pvt Ltd                Proposed CC Limit  CRISIL BB      10      Assigned
Steam Equipments Pvt Ltd                CC                 CRISIL BB      30      Assigned
Super Infratech Pvt Ltd                 BG                 CRISIL D       87.4    Reaffirmed
Super Infratech Pvt Ltd                 Bill Discounting   CRISIL D       49      Reaffirmed
Super Infratech Pvt Ltd                 CC                 CRISIL D       19      Reaffirmed
Super Infratech Pvt Ltd                 TL                 CRISIL D       4.6     Reaffirmed
Surabhi Supreme Marbles And Granites    Standby Line of    CRISIL BB+     7.5     Assigned
Pvt Ltd                                 Credit
Surabhi Supreme Marbles And Granites    CC                 CRISIL BB+     55      Assigned
Pvt Ltd
Surabhi Supreme Marbles And Granites    Proposed LT Bk     CRISIL BB+     37.5    Assigned
Pvt Ltd                                 Loan Fac
Surin Automotive Pvt Ltd                CC                 CRISIL A-      630     Reaffirmed
Surin Automotive Pvt Ltd                LT Loan            CRISIL A-      100     Reaffirmed
Surin Automotive Pvt Ltd                TL                 CRISIL A-      300.4   Assigned
Suyash Motors (Unit of Patton Logistic  CC                 CRISIL B+      25      Downgraded
Services Pvt Ltd)                                                                 from CRISIL
                                                                                  BB-
Suyash Motors (Unit of Patton Logistic  Electronic Dealer  CRISIL B+      70      Downgraded
Services Pvt Ltd)                       Financing                                 from CRISIL
                                        Scheme(e-DFS)                             BB-
Suyash Motors (Unit of Patton Logistic  TL                 CRISIL B+      14.5    Downgraded
Services Pvt Ltd)                                                                 from CRISIL
                                                                                  BB-
Technofab Engineering Ltd               CC**               CRISIL BBB+    400     Reaffirmed
** Fully interchangeable with export packing credit and foreign bill purchase.
Technofab Engineering Ltd               CC@                CRISIL BBB+    240     Reaffirmed
@ Includes Rs.10 crore sub-limit of export packing credit and foreign bill purchase.
Technofab Engineering Ltd               CC                 CRISIL BBB+    450     Reaffirmed
Technofab Engineering Ltd               Proposed LT Bk     CRISIL BBB+    60      Reaffirmed
                                        Loan Fac
Thirumalai Chemicals Ltd                CC                 CRISIL BBB+    1750    Reaffirmed
Thirumalai Chemicals Ltd                Proposed FB Bk     CRISIL BBB+    577.4   Reaffirmed
                                        Limits
Varun Beverages Ltd                     CC                 CRISIL A+      3085    Reaffirmed
Varun Beverages Ltd                     TL                 CRISIL A+      4456    Reaffirmed
VRP Telematics Pvt Ltd                  CC                 CRISIL BB+     100     Assigned
Western Carriers India Ltd              CC                 CRISIL BBB     905     Reaffirmed
Western Carriers India Ltd              Proposed LT Bk     CRISIL BBB     5       Reaffirmed
                                        Loan Fac
Yarlagadda Exports Pvt Ltd              CC                 CRISIL B+      170     Reaffirmed
Yarlagadda Exports Pvt Ltd              Proposed LT Bk     CRISIL B+      107.5   Reaffirmed
                                        Loan Fac
--------------------------------------------------------------------------------------------
$: 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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