May 5, 2017 / 4:51 AM / 4 months ago

CRISIL ratings for Indian debt instruments-May 5

    May 5 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 4, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Amaravathi Textiles Pvt Ltd             BG                 CRISIL A3+     1.1     Assigned
Amaravathi Textiles Pvt Ltd             Foreign Exchange   CRISIL A3+     124.9   Assigned
                                        Forward
Amaravathi Textiles Pvt Ltd             Inland/Import LOC  CRISIL A3+     175     Assigned
Ampo Valves India Pvt Ltd               Packing Credit     CRISIL A2      150     Reaffirmed
Cavinkare Pvt Ltd                       LOC^               CRISIL A1      115     Reaffirmed
^ Interchangeable with Buyers Credit
Credit Suisse Finance India Pvt Ltd     ST Debt (Including CRISIL A1+     6000    Reaffirmed
                                        CP)
Economic Explosives Ltd                 LOC & BG           CRISIL A1+     89.9    Reaffirmed
Economic Explosives Ltd                 Proposed LOC & BG  CRISIL A1+     171.7   Reaffirmed
Fathima Engineering Company Pvt Ltd     BG                 CRISIL A4      30      Reaffirmed
Hi-Tech Audio Systems Pvt Ltd           BG                 CRISIL A3+     50      Reaffirmed
Hi-Tech Audio Systems Pvt Ltd           LOC                CRISIL A3+     50      Reaffirmed
ICICI Securities Ltd                    ST Debt            CRISIL A1+     10000   Reaffirmed
 (Enhanced from Rs.600 Crore)
IDBI Bank Ltd                           CD Programme       CRISIL A1+     400000  Reaffirmed
Kalpataru Power Transmission Ltd        LOC & BG           CRISIL A1+     73600   Reaffirmed
Kalpataru Power Transmission Ltd        Proposed LOC & BG  CRISIL A1+     1400    Reaffirmed
Kalpataru Power Transmission Ltd        ST Debt            CRISIL A1+     1000    Reaffirmed
M/s. N. N. Pugalia                      BG                 CRISIL A4+     150     Reaffirmed
Malhar Fashions India Pvt Ltd           LOC                CRISIL A4      5       Reaffirmed
P. A. Pinions                           BG                 CRISIL A4+     3       Reaffirmed
Ramco Industries Ltd                    CP Programme       CRISIL A1+     500     Assigned
Rockline Construction                   BG                 CRISIL A4      36.5    Upgraded from
                                                                                  CRISIL D
S. N. Goel Contractor                   BG                 CRISIL A4      40      Assigned
Sainik Mining and Allied Services Ltd   BG*                CRISIL A3+     3520    Reaffirmed
* Including sub-limit of Rs.10 crore for letter of credit
Sainik Mining and Allied Services Ltd   Bill Discounting   CRISIL A3+     100     Reaffirmed
Sainik Mining and Allied Services Ltd   Proposed BG        CRISIL A3+     140     Reaffirmed
SM Corporation Ltd                      BG                 CRISIL A4+     50      Assigned
Surya Prakaas Foundry                   Inland/Import LOC  CRISIL A4      5       Assigned
Surya Prakaas Foundry                   BG                 CRISIL A4      25      Assigned

MEDIUM TERM RATINGS:
-------------------
IDBI Bank Ltd                           FD Programme       FAA+           -       Downgraded
                                                                                  from FAAA

LONG TERM RATINGS:
-------------------
Amaravathi Textiles Pvt Ltd             CC                 CRISIL BBB     760     Assigned
Amaravathi Textiles Pvt Ltd             LT Loan            CRISIL BBB     1294.2  Assigned
Amaravathi Textiles Pvt Ltd             Proposed LT Bk     CRISIL BBB     214.8   Assigned
                                        Loan Fac
Bhopal Dhule Transmission Co. Ltd       External           CRISIL AA-     2782.5  Upgraded from
                                        Commercial                                CRISIL A-
                                        Borrowings
Bhopal Dhule Transmission Co. Ltd       TL                 CRISIL AA-     13800   Upgraded from
                                                                                  CRISIL A-
Cavinkare Pvt Ltd                       CC*                CRISIL A       697.5   Reaffirmed
*Interchangeable with Short-Term Loans
Cavinkare Pvt Ltd                       Proposed LT Bk     CRISIL A       437.5   Reaffirmed
                                        Loan Fac
Credit Suisse Finance India Pvt Ltd     NCD                CRISIL AAA     2500    Reaffirmed
Economic Explosives Ltd                 CC                 CRISIL AA      200     Reaffirmed
Economic Explosives Ltd                 TL                 CRISIL AA      1038.4  Reaffirmed
Fathima Engineering Company Pvt Ltd     CC                 CRISIL B+      32      Reaffirmed
Fathima Engineering Company Pvt Ltd     Proposed LT Bk     CRISIL B+      88      Reaffirmed
                                        Loan Fac
Hi-Tech Audio Systems Pvt Ltd           CC                 CRISIL BBB     140     Reaffirmed
Hi-Tech Audio Systems Pvt Ltd           Proposed LT Bk     CRISIL BBB     250     Reaffirmed
                                        Loan Fac
ICICI Securities Ltd                    NCD                CRISIL AAA     500     Reaffirmed
IDBI Bank Ltd                           Tier-I Bond Issue  CRISIL A-      25000   Downgraded
                                        (Under Basel III)                         from CRISIL A
IDBI Bank Ltd                           Tier-I Bond Issue  CRISIL A-      20000   Downgraded
                                        (Under Basel III)                         from CRISIL A
IDBI Bank Ltd                           Upper Tier-II BondsCRISIL A+      36362   Downgraded
                                                                                  from CRISIL
                                                                                  AA-
IDBI Bank Ltd                           Tier-I Perpetual   CRISIL A+      27088   Downgraded
                                        Bonds                                     from CRISIL
                                                                                  AA-
IDBI Bank Ltd                           Tier II Bonds      CRISIL AA-     20000   Downgraded
                                        (Under Basel III)                         from CRISIL AA
IDBI Bank Ltd                           Infrastructure     CRISIL AA-     20000   Downgraded
                                        Bonds                                     from CRISIL AA
IDBI Bank Ltd                           Tier II Bonds      CRISIL AA-     30000   Downgraded
                                        (Under Basel III)                         from CRISIL AA
IDBI Bank Ltd                           Infrastructure     CRISIL AA-     80000   Downgraded
                                        Bonds                                     from CRISIL AA
IDBI Bank Ltd                           Senior/Lower       CRISIL AA-     50000   Downgraded
                                        Tier-II Bonds                             from CRISIL AA
                                         (Under Basel II)
IDBI Bank Ltd                           Lower Tier-II      CRISIL AA-     90416.8 Downgraded
                                        Bonds  (Under                             from CRISIL AA
                                        Basel II)
IDBI Bank Ltd                           Omni Bonds         CRISIL AA-     154795  Downgraded
                                                                                  from CRISIL AA
IDBI Bank Ltd                           Flexi Bonds        CRISIL AA-     4659.6  Downgraded
                                                                                  from CRISIL AA
K G R Poultry                           CC                 CRISIL B+      59      Assigned
K G R Poultry                           TL                 CRISIL B+      5.5     Assigned
Kalpataru Power Transmission Ltd        CC#                CRISIL AA      7750    Reaffirmed
# Rs 12.5 crores is interchangeable between fund-based and non-fund-based limits    
Kalpataru Power Transmission Ltd        LOC & BG^          CRISIL AA      10620   Reaffirmed
^ Interchangeable with fund-based limits; however, overall fund-based limits will not exceed
Rs.800 crore
Kalpataru Power Transmission Ltd        Proposed LOC & BG^ CRISIL AA      500     Reaffirmed
^ Interchangeable with fund-based limits; however, overall fund-based limits will not exceed
Rs.800 crore
Kalpataru Power Transmission Ltd        NCD                CRISIL AA      2000    Reaffirmed
Kalpataru Power Transmission Ltd        NCD                CRISIL AA      2000    Reaffirmed
Kans Wedding Centre                     CC                 CRISIL B+      86      Reaffirmed
Kans Wedding Centre                     LT Loan            CRISIL B+      12.2    Reaffirmed
Kans Wedding Centre                     Proposed WC Fac    CRISIL B+      1.8     Reaffirmed
L R Automobiles                         CC                 CRISIL B+      120     Reaffirmed
L R Automobiles                         Electronic Dealer  CRISIL B+      60      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
M. R. Dairy Products Pvt Ltd            CC                 CRISIL BB      450     Reaffirmed
M/s. N. N. Pugalia                      CC                 CRISIL BB+     100     Reaffirmed
Malhar Fashions India Pvt Ltd           Export Packing     CRISIL B-      37      Reaffirmed
                                        Credit
Malhar Fashions India Pvt Ltd           Foreign Bill       CRISIL B-      27      Reaffirmed
                                        Purchase
Malhar Fashions India Pvt Ltd           Proposed LT Bk     CRISIL B-      6       Reaffirmed
                                        Loan Fac
Malhar Fashions India Pvt Ltd           TL                 CRISIL B-      15      Reaffirmed
Meenakshi Ammal Trust                   CC                 CRISIL BBB-    350     Downgraded
                                                                                  from CRISIL A-
Meenakshi Ammal Trust                   TL                 CRISIL BBB-    200     Downgraded
                                                                                  from CRISIL A-
Meridian Medical Research and Hospital  Proposed CC Limit  CRISIL AA-(SO) 57.6    Upgraded from
Ltd                                                                               CRISIL A+(SO)
Meridian Medical Research and Hospital  Proposed TL        CRISIL AA-(SO) 250     Upgraded from
Ltd                                                                               CRISIL A+(SO)
Meridian Medical Research and Hospital  TL                 CRISIL AA-(SO) 332.4   Upgraded from
Ltd                                                                               CRISIL A+(SO)
P. A. Pinions                           CC                 CRISIL BB      40      Reaffirmed
P. A. Pinions                           Proposed LT Bk     CRISIL BB      74.1    Reaffirmed
                                        Loan Fac
P. A. Pinions                           Rupee TL           CRISIL BB      17.4    Reaffirmed
Rockline Construction                   CC                 CRISIL B-      23.5    Upgraded from
                                                                                  CRISIL D
S. N. Goel Contractor                   CC                 CRISIL B       30      Assigned
S.L.T. Packers                          TL                 CRISIL B       65.4    Assigned
S.L.T. Packers                          CC                 CRISIL B       52.5    Assigned
S.L.T. Packers                          Proposed LT Bk     CRISIL B       2.1     Assigned
                                        Loan Fac
Sainik Mining and Allied Services Ltd   CC**               CRISIL BBB     1250    Reaffirmed
** Interchangeable with bank guarantee Limit to the extent of Rs 25 Crore
Sainik Mining and Allied Services Ltd   Overdraft          CRISIL BBB     50      Reaffirmed
Sainik Mining and Allied Services Ltd   TL                 CRISIL BBB     1470    Reaffirmed
Shree Sharanam Real Estate Pvt Ltd      Overdraft          CRISIL B       20      Upgraded from
                                                                                  CRISIL B-
Shree Sharanam Real Estate Pvt Ltd      TL                 CRISIL B       210     Upgraded from
                                                                                  CRISIL B-
Shree Sharanam Real Estate Pvt Ltd      Proposed Overdraft CRISIL B       20      Upgraded from
                                        Fac                                       CRISIL B-
SM Corporation Ltd                      CC                 CRISIL BB+     250     Reaffirmed
SM Corporation Ltd                      Channel Financing  CRISIL BB+     650     Reaffirmed
SM Corporation Ltd                      TL                 CRISIL BB+     35      Reaffirmed
SM Corporation Ltd                      Proposed LT Bk     CRISIL BB+     5       Reaffirmed
                                        Loan Fac
Sree Daksha Property Developers India   TL                 CRISIL B+      150     Assigned
Pvt Ltd
Surya Prakaas Foundry                   Proposed LT Bk     CRISIL B+      3.5     Assigned
                                        Loan Fac
Surya Prakaas Foundry                   LT Loan            CRISIL B+      4       Assigned
Surya Prakaas Foundry                   CC                 CRISIL B+      42.5    Assigned
Tech Sis Ltd                            TL                 CRISIL BBB     140     Assigned
Tech Sis Ltd                            CC                 CRISIL BBB     50      Assigned
Tech Sis Ltd                            Proposed LT Bk     CRISIL BBB     60      Assigned
                                        Loan Fac
Vaibhav Plasto Printing and Packaging   CC                 CRISIL B       57.2    Downgraded
Pvt Ltd                                                                           from CRISIL
                                                                                  BB-
Vaibhav Plasto Printing and Packaging   TL                 CRISIL B       122.8   Downgraded
Pvt Ltd                                                                           from CRISIL
                                                                                  BB-
Vannsh Life Sciences Pvt Ltd            CC                 CRISIL B       43.5    Reaffirmed
Vannsh Life Sciences Pvt Ltd            LT Loan            CRISIL B       136.5   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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