May 8, 2017 / 4:31 AM / 2 months ago

CRISIL ratings for Indian debt instruments-May 8

15 Min Read

    May 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 5, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Dora Infrastructures and Properties Pvt BG                 CRISIL A4      25      Reaffirmed
Ltd
Elegant Collection                      BG                 CRISIL A2+     5       Reaffirmed
Elegant Collection                      Foreign Exchange   CRISIL A2+     20      Reaffirmed
                                        Forward
G V G Paper Mills Pvt Ltd               Bill Purchase-     CRISIL A1      40      Upgraded from
                                        Discounting Fac                           CRISIL A2+
G V G Paper Mills Pvt Ltd               LOC                CRISIL A1      100     Upgraded from
                                                                                  CRISIL A2+
Hindustan Platinum Pvt Ltd              BG @               CRISIL A1      2460    Reaffirmed
@ Includes Rs 165 crore as sublimit for foreign guarantee
INFINA Finance Pvt Ltd                  CP Issue*          CRISIL A1+     75000   Assigned
*Assigned for initial/ follow-on public offer financing on episodic basis
INFINA Finance Pvt Ltd                  CP Issue*          CRISIL A1+     50000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis
INFINA Finance Pvt Ltd                  ST Debt            CRISIL A1+     4500    Reaffirmed
INFINA Finance Pvt Ltd                  CP Issue*          CRISIL A1+     35000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis
J. K. Fenner India Ltd                  BG**               CRISIL A1      114     Reaffirmed
** Fully interchangeable with each other
J. K. Fenner India Ltd                  LOC**              CRISIL A1      328     Reaffirmed
** Fully interchangeable with each other
J. K. Fenner India Ltd                  Packing Credit^@   CRISIL A1      250     Reaffirmed
^ Interchangeable between pre-shipment and post-shipment credit; @ Rs.15 crores sublimit of cash
credit
Mercury Travels Ltd                     BG                 CRISIL A3      15      Reaffirmed
Modern Cotton Yarn Spinners Ltd         LOC^               CRISIL A3      15      Reaffirmed
^Interchangeable with bank guarantee
Omvir Singh                             BG                 CRISIL A4+     250     Reaffirmed
Omvir Singh                             Overdraft          CRISIL A4+     20.4    Reaffirmed
Phoenix ARC Pvt Ltd                     CP                 CRISIL A1+     500     Reaffirmed
Power Max India Pvt Ltd                 BG                 CRISIL A4      231.5   Reaffirmed
Power Max India Pvt Ltd                 LOC                CRISIL A4      50      Assigned
Prashant Castech Pvt Ltd                Export Packing     CRISIL A2+     90      Removed from
                                        Credit I II III IV                        Notice of
                                        V VI VII VIII IX X                        withdrawal
Prashant Castings Pvt Ltd               Export Packing     CRISIL A2+     90      Removed from
                                        Credit I II III IV                        Notice of
                                        V VI VII VIII IX X                        withdrawal
Relcon Infraprojects Ltd                BG                 CRISIL A4+     2450    Reaffirmed
Removed from Rating Watch with Negative Implications
Southern Spinners and Processors Ltd    LOC^               CRISIL A3      20      Reaffirmed
^Interchangeable with bank guarantee
Toyota Financial Services India Ltd     ST Debt (Including CRISIL A1+     16000   Reaffirmed
                                        CP)

LONG TERM RATINGS:
-------------------
Anuron Infrastructures                  TL                 CRISIL B       147     Reaffirmed
Dora Infrastructures and Properties Pvt CC                 CRISIL B       50      Reaffirmed
Ltd
Dora Infrastructures and Properties Pvt Proposed WC Fac    CRISIL B       25      Reaffirmed
Ltd
Elegant Collection                      Export Packing     CRISIL A-      370     Reaffirmed
                                        Credit
Elegant Collection                      Post Shipment      CRISIL A-      230     Reaffirmed
                                        Credit *
* Fully interchangeable with Foreign currency packing credit (Post Shipment Credit)
Elegant Collection                      Proposed LT Bk     CRISIL A-      35      Reaffirmed
                                        Loan Fac
Elegant Collection                      Standby Line of    CRISIL A-      40      Reaffirmed
                                        Credit
Fonroche Raajhans Energy Pvt Ltd        LT Loan            CRISIL A       410     Upgraded from
                                                                                  CRISIL A-
Removed from 'Rating Watch with Developing Implications'
Fonroche Saaras Energy Pvt Ltd          LT Loan            CRISIL A       1290    Upgraded from
                                                                                  CRISIL A-
Removed from Rating Watch with Developing Implications
G V G Paper Mills Pvt Ltd               CC                 CRISIL A-      240     Reaffirmed
G V G Paper Mills Pvt Ltd               LT Loan            CRISIL A-      230     Reaffirmed
Hindustan Platinum Pvt Ltd              BG *               CRISIL A       1250    Reaffirmed
*Fully interchangeable with fund-based facility
Hindustan Platinum Pvt Ltd              CC ^$              CRISIL A       1440    Reaffirmed
^Interchangeable with non-fund based facility to the extent of Rs 30 crore; $ Includes Rs 24
crore as a sublimit for non-fund based facility
Hindustan Platinum Pvt Ltd              Standby LOC #      CRISIL A       734     Reaffirmed
#Commercial standby letter of credit for metal loan for USD 15 million (approx. Rs.73.4crores)
fully interchangeable with fund-based facility
J. K. Fenner India Ltd                  CC*                CRISIL A+      660     Reaffirmed
* Interchangeable with packing credit to the extent of Rs.15 crores and post-shipment credit to
the extent of Rs.10 crores
J. K. Fenner India Ltd                  Proposed LT Bk     CRISIL A+      904.5   Reaffirmed
                                        Loan Fac
J. K. Fenner India Ltd                  Proposed WC Fac    CRISIL A+      10      Reaffirmed
J. K. Fenner India Ltd                  TL                 CRISIL A+      1116.6  Reaffirmed
J. K. Fenner India Ltd                  WC Demand Loan&    CRISIL A+      125     Reaffirmed
J. K. Fenner India Ltd                  NCD                CRISIL A+      300     Reaffirmed
J. K. Fenner India Ltd                  FD                 FAA-                   Reaffirmed
Kallada General Finance Pvt Ltd         Proposed LT Bk     CRISIL B+      150     Reaffirmed
                                        Loan Fac

Keystones Infra-Con (India) Pvt Ltd     LT Loan            CRISIL B+      110     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Kosher Pharmaceutical Pvt Ltd           LT Loan            CRISIL B       130     Assigned
Kosher Pharmaceutical Pvt Ltd           Proposed CC Limit  CRISIL B       20      Assigned
Life Line Feeds India Pvt Ltd           Proposed TL        CRISIL BBB-    225     Reaffirmed
Mercury Travels Ltd                     CC                 CRISIL BBB-    260     Reaffirmed
Modern Cotton Yarn Spinners Ltd         CC*                CRISIL BBB-    120     Reaffirmed
*Interchangeable with packing credit and packing credit foreign currency
Modern Cotton Yarn Spinners Ltd         Proposed CC Limit  CRISIL BBB-    20      Reaffirmed
Motherson Lease Solution Ltd            TL                 CRISIL AA      1250    Assigned
Nish Developers Pvt Ltd                 NCD                CRISIL BB+     5000    Assigned
Omvir Singh                             Proposed LT Bk     CRISIL BB      34.8    Reaffirmed
                                        Loan Fac
Omvir Singh                             Secured Overdraft  CRISIL BB      44.8    Assigned
                                        Fac
Phoenix ARC Pvt Ltd                     Overdraft          CRISIL AA      2000    Reaffirmed
Phoenix ARC Pvt Ltd                     Proposed LT Bk     CRISIL AA      500     Assigned
                                        Loan Fac*
Phoenix ARC Pvt Ltd                     NCD                CRISIL AA      1500    Withdrawal
Polyset Plastics Pvt Ltd                CC                 CRISIL BBB+    210     Upgraded from
                                                                                  CRISIL BBB
Polyset Plastics Pvt Ltd                Proposed LT Bk     CRISIL BBB+    30      Upgraded from
                                        Loan Fac                                  CRISIL BBB
Polyset Plastics Pvt Ltd                TL                 CRISIL BBB+    30      Assigned
Power Max India Pvt Ltd                 CC                 CRISIL C       130     Reaffirmed
Power Max India Pvt Ltd                 WC Demand Loan     CRISIL C       70      Assigned
Prashant Castech Pvt Ltd                CC**               CRISIL A-      10      Removed from
                                                                                  Notice of
                                                                                  withdrawal
**Fully interchangeable with export packing credit
Prashant Castings Pvt Ltd               CC**               CRISIL A-      10      Reaffirmed
**Fully interchangeable with export packing credit
Relcon Infraprojects Ltd                CC                 CRISIL BB-     150     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Removed from Rating Watch with Negative Implications
Senco Gold Ltd                          CC^                CRISIL A-      930     Reaffirmed
^ 100% interchangibility with non fund based limit
Senco Gold Ltd                          CC*                CRISIL A-      650     Reaffirmed
* Includes sublimits of Rs.10 crores for EPC/PCFC, and Rs.50 crores for non fund based limit
Senco Gold Ltd                          CC^                CRISIL A-      400     Reaffirmed
^ 100% interchangibility with non fund based limit
Senco Gold Ltd                          CC^                CRISIL A-      790     Reaffirmed
^ 100% interchangibility with non fund based limit
Senco Gold Ltd                          CC@                CRISIL A-      650     Reaffirmed
@ 100% interchangibility to WCDL, includes sublimit of Rs.15 crores for EPC/PCFC and Rs.58.5
crores for non fund based limit
Senco Gold Ltd                          CC^                CRISIL A-      210     Reaffirmed
^ 100% interchangibility with non fund based limit
Senco Gold Ltd                          CC**               CRISIL A-      250     Reaffirmed
**100% interchangibility with WCDL and non fund based limits
Senco Gold Ltd                          CC@@               CRISIL A-      200
@@ WCDL sublimit of Rs.20 crores, sublimit of Rs.10 crores for EPC/PCFC/PSC, sublimit of Rs.15
crores for non fund based limits.
Senco Gold Ltd                          Export Packing     CRISIL A-      60      Reaffirmed
                                        Credit
Senco Gold Ltd                          Gold Loan          CRISIL A-      100     Reaffirmed
Senco Gold Ltd                          LT Loan            CRISIL A-      70      Assigned
Senco Gold Ltd                          Proposed FB Bk     CRISIL A-      940     Assigned
                                        Limits
Senco Gold Ltd                          WC Demand Loan     CRISIL A-      250     Assigned
Southern Spinners and Processors Ltd    CC*                CRISIL BBB-    140     Reaffirmed
*Interchangeable with packing credit and packing credit foreign currency
Sravya Infra Projects Pvt Ltd           LT Loan            CRISIL B+      150     Reaffirmed
Toyota Financial Services India Ltd     NCD                CRISIL AAA     2000    Assigned
Toyota Financial Services India Ltd     NCDs               CRISIL AAA     34000   Reaffirmed
UTI Mutual Fund                         UTI- Money Market  CRISIL AAAmfs          Reaffirmed
                                        Fund

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