April 25, 2017 / 7:45 AM / 4 months ago

CRISIL ratings for Indian debt instruments-Apr 25

    Apr 25 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 24, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Amoli Organics Pvt Ltd                  BG                 CRISIL A3+     9       Reaffirmed
Amoli Organics Pvt Ltd                  Cash Management    CRISIL A3+     10      Reaffirmed
                                        Service
Amoli Organics Pvt Ltd                  LOC                CRISIL A3+     192     Reaffirmed
Amoli Organics Pvt Ltd                  Proposed ST Bk     CRISIL A3+     25      Reaffirmed
                                        Loan Fac
Asian Sealing Products Pvt Ltd          Packing Credit     CRISIL A4      80      Reaffirmed
Capithan Exporting Company              Bill Discounting   CRISIL A4      140     Notice of
                                                                                  Withdrawal
Capithan Exporting Company              Packing Credit     CRISIL A4      137.1   Notice of
                                                                                  Withdrawal
Ch. Veeraraghavulu Construction Pvt Ltd BG                 CRISIL A4+     120     Reaffirmed
Chandan Trading Company Pvt Ltd         BG                 CRISIL A4      30      Assigned
Deutsche Bank A. G.                     CD                 CRISIL A1+     5000    Reaffirmed
Deutsche Investments India Pvt Ltd      CP Programme       CRISIL A1+     30000   Reaffirmed
Durgapur Iron and Steel Co Pvt Ltd      LOC                CRISIL A4      13.4    Reaffirmed
Gainup Industries India Pvt Ltd         BG                 CRISIL A4      10      Upgraded from
                                                                                  CRISIL D
Gainup Industries India Pvt Ltd         Foreign Bill       CRISIL A4      20      Upgraded from
                                        Discounting                               CRISIL D
Gainup Industries India Pvt Ltd         LOC                CRISIL A4      50      Upgraded from
                                                                                  CRISIL D
Godrej and Boyce Manufacturing Co. Ltd  BG                 CRISIL A1+     22000   Reaffirmed
Godrej and Boyce Manufacturing Co. Ltd  Export Bill        CRISIL A1+     100     Reaffirmed
                                        Purchase
                                        -Discounting
Godrej and Boyce Manufacturing Co. Ltd  LOC                CRISIL A1+     10000   Reaffirmed
Godrej and Boyce Manufacturing Co. Ltd  LOC & BG           CRISIL A1+     1600    Reaffirmed
Godrej and Boyce Manufacturing Co. Ltd  Line of Credit     CRISIL A1+     3000    Reaffirmed
Godrej and Boyce Manufacturing Co. Ltd  Pre Shipment       CRISIL A1+     5200    Reaffirmed
                                        Credit*
* Interchangeable with post-shipment export packing credit facility; includes sub-limit of
Rs.280 crores for letter of credit/bank guarantee
Godrej and Boyce Manufacturing Co. Ltd  Proposed ST Bk     CRISIL A1+     3000    Reaffirmed
                                        Loan Fac
Hercules Pigments Pvt Ltd               BG                 CRISIL A3      5       Reaffirmed
Himalaya Construction Co.Pvt Ltd        BG                 CRISIL A4      200     Reaffirmed
Jalan Jee Polytex Ltd                   LOC                CRISIL A4      10      Assigned
Kaizen Metal Forming Pvt Ltd            LOC*               CRISIL A4+     5       Assigned
* Interchangeable with Bank Guarantee
Lacma Panel Industries LLP              Proposed NFBL      CRISIL A4      12.5    Assigned
Live City Ceramic Pvt. Ltd.             BG                 CRISIL A4      12.5    Reaffirmed
Maitri Educational Society              BG                 CRISIL A4      48      Reaffirmed
Meghalaya Cast and Alloys Pvt Ltd       BG                 CRISIL A4+     21.4    Upgraded from
                                                                                  CRISIL B+
Meghalaya Cast and Alloys Pvt Ltd       CC                 CRISIL BB-     60      Upgraded from
                                                                                  CRISIL A4
Meghalaya Cast and Alloys Pvt Ltd       TL                 CRISIL BB-     19.1    Upgraded from
                                                                                  CRISIL A4
Nelito Systems Ltd                      BG                 CRISIL A2+     160     Reaffirmed
Watch Developing
Nowotek Textiles Pvt Ltd                LOC                CRISIL A4+     15      Assigned
Priti Construction                      BG                 CRISIL A4+     150     Reaffirmed
Priti Construction                      Proposed ST Bk     CRISIL A4+     50      Reaffirmed
                                        Loan Fac
Real Innerspring Technologies Pvt Ltd   LOC & BG           CRISIL A4+     5       Assigned
Redington India Ltd                     ST Debt (Including CRISIL A1+     14000   Assigned
                                        CP)
Redington India Ltd                     BG                 CRISIL A1+     850     Reaffirmed
Redington India Ltd                     LOC                CRISIL A1+     2740    Reaffirmed
Redington India Ltd                     ST Loan            CRISIL A1+     6016.9  Reaffirmed
RPS Infraprojects Pvt Ltd               BG                 CRISIL A4+     2000    Reaffirmed
Rating Watch with Negative Implications
Sai Service Pvt Ltd                     LOC & BG           CRISIL A1      150     Reaffirmed
Sai Service Spares and Accessories Pvt  BG                 CRISIL A1      180     Assigned
Ltd
Saiyyed Akhter Ali                      BG                 CRISIL A4+     65      Assigned
Saket Infraprojects Ltd                 BG                 CRISIL A4+     200     Reaffirmed
Watch Negative
Shah and Parikh                         BG                 CRISIL A4+     150     Reaffirmed
Watch Negative
Shimla Auto                             BG                 CRISIL A4      2       Assigned
Speco Infrastructure                    BG                 CRISIL A4+     170     Reaffirmed
Stadmed Pvt Ltd                         BG                 CRISIL A4+     1.5     Reaffirmed
Stadmed Pvt Ltd                         LOC                CRISIL A4+     1       Reaffirmed
Vama Industries Ltd                     BG                 CRISIL A4+     15      Issuer Not
                                                                                  Cooperating

LONG TERM RATINGS:
-------------------
Adiraj Manpower Services Pvt Ltd        CC                 CRISIL BB+     50      Assigned
Aesthetic Gold Ornaments Pvt Ltd        CC                 CRISIL BBB-    50      Reaffirmed
Amoli Organics Pvt Ltd                  CC                 CRISIL BBB     590     Reaffirmed
Amoli Organics Pvt Ltd                  External           CRISIL BBB     139     Reaffirmed
                                        Commercial
                                        Borrowings
Amoli Organics Pvt Ltd                  Proposed LT Bk     CRISIL BBB     42.5    Reaffirmed
                                        Loan Fac
Amoli Organics Pvt Ltd                  TL                 CRISIL BBB     252.5   Reaffirmed
Asian Sealing Products Pvt Ltd          LT Loan            CRISIL B       120     Reaffirmed
BCV Developers Pvt Ltd                  TL                 CRISIL BBB+    1900    Reaffirmed

Blaze Gold Jewels Pvt Ltd               CC                 CRISIL BB+     100     Reaffirmed
Removed from 'Rating Watch with Positive Implications'
Blossom Gold Collections Pvt Ltd        CC                 CRISIL BB+     60      Reaffirmed
Removed from 'Rating Watch with Positive Implications'
Brigade Enterprises Ltd                 Proposed LT Bk     CRISIL A       3500    Reaffirmed
                                        Loan Fac
Caltech Polymers Pvt Ltd                CC                 CRISIL BB+     40      Assigned
Caltech Polymers Pvt Ltd                Cash TL            CRISIL BB+     20      Assigned
Ch. Veeraraghavulu Construction Pvt Ltd CC                 CRISIL BB      30      Upgraded from
                                                                                  CRISIL BB-
Chandan Trading Company Pvt Ltd         CC                 CRISIL B+      110     Assigned
Durgapur Iron and Steel Co Pvt Ltd      CC                 CRISIL B+      100     Reaffirmed
Durgapur Iron and Steel Co Pvt Ltd      Proposed CC Limit  CRISIL B+      20      Reaffirmed
Eminent Jewel Arcade Pvt Ltd            CC                 CRISIL BB+     69.5    Reaffirmed
Gainup Industries India Pvt Ltd         CC                 CRISIL B+      200     Upgraded from
                                                                                  CRISIL D
Gainup Industries India Pvt Ltd         Proposed LT Bk     CRISIL B+      157.8   Upgraded from
                                        Loan Fac                                  CRISIL D
Gainup Industries India Pvt Ltd         TL                 CRISIL B+      99      Upgraded from
                                                                                  CRISIL D
Godrej and Boyce Manufacturing Co. Ltd  CC#                CRISIL AA      13000   Reaffirmed
# Fully interchangeable with working capital demand loan; includes pre-shipment export packing
credit facilities of Rs.125 crores
Godrej and Boyce Manufacturing Co. Ltd  Standby LOC        CRISIL AA      2000    Reaffirmed
Hercules Pigments Pvt Ltd               Fund & NFBL        CRISIL BBB-    75      Reaffirmed
Hercules Pigments Pvt Ltd               Packing Credit     CRISIL BBB-    20      Reaffirmed
Himalaya Construction Co.Pvt Ltd        CC                 CRISIL B       40      Downgraded
                                                                                  from CRISIL B+
Hotel Pearl                             TL                 CRISIL B-      35      Assigned
Hotel Pearl                             WC TL              CRISIL B-      80      Assigned
Jalan Jee Polytex Ltd                   CC                 CRISIL B-      90      Assigned
Jeelani Marine Products                 CC                 CRISIL BB-     50      Assigned
Jeelani Marine Products                 Proposed TL        CRISIL BB-     100     Assigned
Jharkhand Road Project Implementation   NCD                Provisional 
Co. Ltd                                                    CRISIL AA      4800    Assigned^
                                                           
^A prefix of 'Provisional' indicates that the rating centrally factors in the strength of
specific structures, and will be supported by certain critical documentation by the issuer,
without which the rating would either have been different or not assigned ab initio. This is in
compliance with a May 6, 2015 directive by the Securities and Exchange Board of India
(SEBI), 'Standardising the term, rating symbol, and manner of disclosure with regard to
conditional/ provisional/ in-principle ratings assigned by credit rating agencies (CRAs)'
Kaizen Metal Forming Pvt Ltd            Proposed LT Bk     CRISIL BB-     10      Assigned
                                        Loan Fac
Kaizen Metal Forming Pvt Ltd            LT Loan            CRISIL BB-     20      Assigned
Kaizen Metal Forming Pvt Ltd            CC                 CRISIL BB-     35      Assigned
Khurana Blankets Pvt Ltd                CC                 CRISIL B       45      Upgraded from
                                                                                  CRISIL B-
Khurana Blankets Pvt Ltd                LT Loan            CRISIL B       45      Upgraded from
                                                                                  CRISIL B-
Khurana Blankets Pvt Ltd                Proposed LT Bk     CRISIL B       35      Upgraded from
                                        Loan Fac                                  CRISIL B-
Lacma Panel Industries LLP              TL                 CRISIL B       73.5    Assigned
Lacma Panel Industries LLP              CC                 CRISIL B       40      Assigned
Lakshman Veer Steel Pvt Ltd             CC                 CRISIL B+      90      Upgraded from
                                                                                  CRISIL B
Live City Ceramic Pvt. Ltd.             CC                 CRISIL B       20      Reaffirmed
Live City Ceramic Pvt. Ltd.             LT Loan            CRISIL B       37.5    Reaffirmed
Live City Ceramic Pvt. Ltd.             Proposed LT Bk     CRISIL B       30      Reaffirmed
                                        Loan Fac
Luster Gold Palace (India) Pvt Ltd      CC                 CRISIL BB+     60      Reaffirmed
Luster Gold Palace (India) Pvt Ltd      Proposed LT Bk     CRISIL BB+     10      Reaffirmed
                                        Loan Fac
Rating Watch with Negative Implications'
Maitri Educational Society              Proposed LT Bk     CRISIL B       13      Reaffirmed
                                        Loan Fac
Maitri Educational Society              TL                 CRISIL B       79      Reaffirmed
Malabar Business Centre Pvt Ltd         CC                 CRISIL BBB+    80      Upgraded from
                                                                                  CRISIL BBB
Removed from 'Rating Watch with Positive Implications'
Malabar Cochin Arcade Pvt Ltd           CC                 CRISIL BBB     150     Reaffirmed
Malabar Creations Pvt Ltd               CC                 CRISIL BBB     60      Upgraded from
                                                                                  CRISIL BBB-
Removed from 'Rating Watch with Positive Implications'
Malabar Creations Pvt Ltd               Proposed LT Bk     CRISIL BBB     10      Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Removed from 'Rating Watch with Positive Implications
Malabar Crystals and Diamonds Pvt Ltd   CC                 CRISIL BBB     100     Reaffirmed
Malabar Gold Palace Pvt Ltd             CC                 CRISIL BBB+    150     Reaffirmed
Malabar Gold Supermarket (Kannur) Pvt   CC                 CRISIL BBB     89.5    Upgraded from
Ltd                                                                               CRISIL BBB-
Removed from 'Rating Watch with Positive Implications
Malabar Jewels and Gems Pvt Ltd         CC                 CRISIL BBB+    130     Upgraded from
                                                                                  CRISIL BBB
Malabar Mangalore Arcade Pvt Ltd        CC                 CRISIL BBB     100     Upgraded from
                                                                                  CRISIL BBB-
Removed from 'Rating Watch with Positive Implications’
Malabar Ornaments Pvt Ltd               CC                 CRISIL BBB+    100     Upgraded from
                                                                                  CRISIL BBB-
Malabar Ruby Pvt Ltd                    CC                 CRISIL BBB-    100     Reaffirmed
Removed from 'Rating Watch with Positive Implications'
Malabar Watches Pvt Ltd                 CC                 CRISIL BBB     80      Reaffirmed
Removed from 'Rating Watch with Positive Implications'
Nelito Systems Ltd                      CC                 CRISIL A-      120     Reaffirmed
Watch Developing
Nelito Systems Ltd                      TL                 CRISIL A-      70      Withdrawal
Nirban Realtors and Developers          Proposed LT Bk     CRISIL B+      47.5    Reaffirmed
                                        Loan Fac
Nirban Realtors and Developers          TL                 CRISIL B+      77.5    Reaffirmed
Northern Gold Collections Llp           CC                 CRISIL BBB-    60      Reaffirmed
Nowotek Textiles Pvt Ltd                TL                 CRISIL BB-     95      Assigned
Nowotek Textiles Pvt Ltd                Proposed FB Bk     CRISIL BB-     5       Assigned
                                        Limits
Nowotek Textiles Pvt Ltd                CC                 CRISIL BB-     65      Assigned
Oberai Motors Ltd                       Drop Line          CRISIL B-      50      Reaffirmed
                                        Overdraft Fac
Oberai Motors Ltd                       TL                 CRISIL B-      9       Reaffirmed
Pawan Castings (Meghalaya) Pvt Ltd      CC                 CRISIL BB-     120     Reaffirmed
Pawan Castings (Meghalaya) Pvt Ltd      TL                 CRISIL BB-     35      Reaffirmed
Penguin Plywood Pvt Ltd                 CC                 CRISIL D       12.5    Reaffirmed
Penguin Plywood Pvt Ltd                 LT Loan            CRISIL D       26.9    Reaffirmed
Penguin Plywood Pvt Ltd                 Proposed LT Bk     CRISIL D       60.6    Reaffirmed
                                        Loan Fac
Popular Function Organisers             LT Loan            CRISIL B+      145     Assigned
Popular Function Organisers             Proposed LT Bk     CRISIL B+      5       Assigned
                                        Loan Fac
Premsons Motor Udyog Pvt Ltd            CC                 CRISIL BBB-    50      Reaffirmed
Premsons Motor Udyog Pvt Ltd            Inventory Funding  CRISIL BBB-    430     Reaffirmed
                                        Fac
Premsons Motor Udyog Pvt Ltd            Proposed CC Limit  CRISIL BBB-    15.5    Reaffirmed
Premsons Motor Udyog Pvt Ltd            TL                 CRISIL BBB-    4.5     Reaffirmed
Prominent Jewel Arcade Pvt Ltd          CC                 CRISIL BB+     50      Reaffirmed
Removed from 'Rating Watch with Positive Implications'
Raheem Industries                       CC                 CRISIL B+      70      Reaffirmed
Raheem Industries                       Proposed LT Bk     CRISIL B+      16.3    Reaffirmed
                                        Loan Fac
Raheem Industries                       Standby Line of    CRISIL B+      10.5    Reaffirmed
                                        Credit
Real Innerspring Technologies Pvt Ltd   TL                 CRISIL BB      40      Assigned
Real Innerspring Technologies Pvt Ltd   Proposed LT Bk     CRISIL BB      5       Assigned
                                        Loan Fac
Real Innerspring Technologies Pvt Ltd   CC                 CRISIL BB      60      Assigned
Redington India Ltd                     CC                 CRISIL AA-     6950    Reaffirmed
Redington India Ltd                     Proposed CC Limit  CRISIL AA-     943.1   Reaffirmed
Regaal Resources Pvt Ltd                TL                 CRISIL B+      400     Assigned
Riches Jewel Arcade Llp                 CC                 CRISIL BBB-    300     Reaffirmed
Riches Jewel Arcade Llp                 Proposed CC Limit  CRISIL BBB-    350     Reaffirmed
RPS Infraprojects Pvt Ltd               CC                 CRISIL BB+     200     Reaffirmed
Rating Watch with Negative Implications
Sai Service Pvt Ltd                     CC                 CRISIL A+      705     Upgraded from
                                                                                  CRISIL A
Sai Service Pvt Ltd                     Proposed LT Bk     CRISIL A+      145     Upgraded from
                                        Loan Fac                                  CRISIL A
Sai Service Spares and Accessories Pvt  CC*                CRISIL A       30      Assigned
Ltd
* Working capital demand loan of Rs.1.5 crore is sub-limit of Cash Credit
Saiyyed Akhter Ali                      TL                 CRISIL BB-     10      Assigned
Saiyyed Akhter Ali                      CC                 CRISIL BB-     75      Assigned
Saket Infraprojects Ltd                 CC                 CRISIL BB+     200     Reaffirmed
Watch Negative
Shah and Parikh                         Overdraft          CRISIL BB      50      Reaffirmed
Watch Negative
Sheen Golden Jewels (india) Pvt Ltd     CC                 CRISIL BB+     50      Reaffirmed
Removed from 'Rating Watch with Positive Implications
Shimla Auto                             TL                 CRISIL B       6.3     Assigned
Shimla Auto                             CC                 CRISIL B       50      Assigned
Speco Infrastructure                    CC                 CRISIL BB      30      Reaffirmed
Stadmed Pvt Ltd                         CC                 CRISIL BB      98.3    Reaffirmed
Stadmed Pvt Ltd                         TL                 CRISIL BB      20      Reaffirmed
Stadmed Pvt Ltd                         Proposed LT Bk     CRISIL BB      25.4    Reaffirmed
                                        Loan Fac
Swarna Kamal Jewels India Pvt Ltd       CC                 CRISIL BBB-    120     Upgraded from
                                                                                  CRISIL BB+
Removed from 'Rating Watch with Positive Implications
Thatipalli Infra Projects               LT Loan            CRISIL B+      80      Assigned
The Devicolam Distilleries Ltd          CC                 CRISIL B       50      Upgraded from
                                                                                  CRISIL B-
The Devicolam Distilleries Ltd          Export Packing     CRISIL B       10      Upgraded from
                                        Credit                                    CRISIL B-
The Devicolam Distilleries Ltd          Proposed LT Bk     CRISIL B       10      Upgraded from
                                        Loan Fac                                  CRISIL B-
The Devicolam Distilleries Ltd          TL                 CRISIL B       20      Upgraded from
                                                                                  CRISIL B-
Travancore Gold India Pvt Ltd           CC                 CRISIL BB+     250     Reaffirmed
Rating Watch with Negative Implications 
Vama Industries Ltd                     CC                 CRISIL BB-     35      Issuer Not
                                                                                  Cooperating

--------------------------------------------------------------------------------------------
$: 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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