May 10, 2017 / 5:39 AM / 3 months ago

CRISIL ratings for Indian debt instruments-May 10

22 Min Read

    May 10 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 9, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Bajaj Finance Ltd                       ST Bk Fac          CRISIL A1+     3750    Reaffirmed
Bajaj Finance Ltd                       ST Debt Programme  CRISIL A1+     150000  Reaffirmed
Beekalene Fabrics Pvt Ltd               BG                 CRISIL A4+     4.8     Reaffirmed
Beekalene Fabrics Pvt Ltd               LOC                CRISIL A4+     4       Reaffirmed
Bharat Scans Pvt Ltd                    Overdraft          CRISIL A4      40      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Dhruv Cotton Processing Pvt Ltd         BG                 CRISIL A4+     20      Reaffirmed
Ganpati Minetech Pvt Ltd                BG                 CRISIL A4      2.5     Reaffirmed
Issuer Not Cooperating
Gas Projects India Pvt Ltd              BG                 CRISIL A4      57.5    Reaffirmed
Issuer Not Cooperating
Global Coal and Mining Pvt Ltd          BG                 CRISIL A1      2600    Reaffirmed
IIFL Facilities Services Ltd            ST Debt Issue*     CRISIL A1+     20000   Assigned
IIFL Facilities Services Ltd            ST Debt Issue*     CRISIL A1+     20000   Withdrawal
JM Financial Capital Ltd                ST Debt Programme  CRISIL A1+     10000   Reaffirmed
JM Financial Capital Ltd                CP Issue^          CRISIL A1+     10000   Assigned
^Assigned for initial public offering financing on an episodic basis
JM Financial Capital Ltd                CP Issue^          CRISIL A1+     10000   Withdrawal
^Assigned for initial public offering financing on an episodic basis
JM Financial Products Ltd               CP Issue^          CRISIL A1+     28000   Assigned
^Assigned for initial public offering financing on an episodic basis
JM Financial Products Ltd               CP Issue^          CRISIL A1+     28000   Withdrawal
^Assigned for initial public offering financing on an episodic basis
JM Financial Products Ltd               CP Issue^          CRISIL A1+     12000   Reaffirmed
^Assigned for initial public offering financing on an episodic basis
JM Financial Products Ltd               CP Programme       CRISIL A1+     35000   Reaffirmed
JM Financial Properties And Holdings LtdCP Issue*          CRISIL A1+     10000   Assigned
*Assigned for initial public offering financing on an episodic basis
JM Financial Properties And Holdings LtdCP Issue*          CRISIL A1+     10000   Withdrawal
*Assigned for initial public offering financing on an episodic basis
Keyur Industries                        Bill Purchase-     CRISIL A4      20      Downgraded
                                        Discounting Fac                           from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Kusmasuli Multipurpose Cold Storage Pvt BG                 CRISIL A4      1.3     Reaffirmed
Ltd
Muthulaxmi Spinning Mills Pvt Ltd       LOC                CRISIL A4      20      Reaffirmed
Issuer Not Cooperating
Rajkamal Textiles                       BG                 CRISIL A4      6.5     Reaffirmed
Sheba Properties Ltd                    Proposed BG***     CRISIL A1+     5750    Assigned
*** Rated and proposed limits as on 31st March 2017
Sheba Properties Ltd                    BG**               CRISIL A1+     7100    Assigned
**Sanctioned bank facilities as on 31st March 2017 (Note- Long- Term Bank Facilities are net of
repayments)
Sheba Properties Ltd                    ST Debt            CRISIL A1+     10000   Assigned
Sri Lakshmi Godavari Spinning Mills Ltd BG                 CRISIL A4+     1.8     Reaffirmed
Sri Lakshmi Godavari Spinning Mills Ltd Foreign            CRISIL A4+     82.1    Reaffirmed
                                        Documentary Bills
                                        Purchase
Sudheer Infrastructure Pvt Ltd          BG                 CRISIL A4+     52.5    Reaffirmed
Sunil Trade Links                       BG                 CRISIL A4      42.5    Removed from
                                                                                  Notice of
                                                                                  withdrawal
Issuer Not Cooperating
Sunil Trade Links                       Proposed ST Bk     CRISIL A4      7.5     Removed from
                                        Loan Fac                                  Notice of
                                                                                  withdrawal
Issuer Not Cooperating
Swajit Engineering Pvt Ltd              BG                 CRISIL A4      25      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Tata Motors Finance Ltd                 ST Debt            CRISIL A1+     10000   Reaffirmed
Vinod Kumar Jain                        BG                 CRISIL A3+     590     Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Bajaj Finance Ltd                       FD Programme       FAAA                   Reaffirmed
LONG TERM RATINGS:
-------------------
Akar Creations Pvt Ltd                  Drop Line          CRISIL D       250     Downgraded
                                        Overdraft Fac                             from CRISIL
                                                                                  BB-
Akar Creations Pvt Ltd                  Loan Against       CRISIL D       35      Downgraded
                                        Property                                  from CRISIL
                                                                                  BB-
Akar Creations Pvt Ltd                  Mortgage Loan Fac  CRISIL D       100     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Akar Creations Pvt Ltd                  Overdraft          CRISIL D       200     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Akar Creations Pvt Ltd                  Proposed LT Bk     CRISIL D       42      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Akar Creations Pvt Ltd                  TL                 CRISIL D       23      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Aphrodite Infra Pvt Ltd                 LT Loan            CRISIL B+      400     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Bajaj Finance Ltd                       CC & WC demand loanCRISIL AAA     30500   Reaffirmed
Bajaj Finance Ltd                       LT Bk Fac          CRISIL AAA     122205.4Reaffirmed
Bajaj Finance Ltd                       Proposed LT Bk     CRISIL AAA     53544.6 Reaffirmed
                                        Loan Fac
Bajaj Finance Ltd                       NCD Issue          CRISIL AAA     70000   Reaffirmed
Bajaj Finance Ltd                       NCD Issue          CRISIL AAA     30000   Reaffirmed
Bajaj Finance Ltd                       NCDs               CRISIL AAA     70528   Reaffirmed
Bajaj Finance Ltd                       Subordinated Debt  CRISIL AAA     20000   Reaffirmed
Bajaj Finance Ltd                       Lower Tier- II     CRISIL AAA     7000    Reaffirmed
                                        Bonds
Beekalene Fabrics Pvt Ltd               CC                 CRISIL BB-     120     Reaffirmed
Beekalene Fabrics Pvt Ltd               Lease Rental       CRISIL BB-     115     Reaffirmed
                                        Discounting Loan
Beekalene Fabrics Pvt Ltd               Proposed LT Bk     CRISIL BB-     6.2     Reaffirmed
                                        Loan Fac
Beekalene Fabrics Pvt Ltd               TL                 CRISIL BB-     50      Reaffirmed
Bharat Scans Pvt Ltd                    CC                 CRISIL B       4.7     Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Bharat Scans Pvt Ltd                    LT Loan            CRISIL B       27.5    Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Bharat Scans Pvt Ltd                    Proposed WC Fac    CRISIL B       13.1    Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Bharat Scans Pvt Ltd                    WC Fac             CRISIL B       9.7     Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Bharat Scans Pvt Ltd                    WC TL              CRISIL B       5       Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Dedicated Freight Corridor Corporation  Corporate Credit   CCR AAA                Reaffirmed
of India Ltd                            Rating
Desai Homes                             Lease Rental       CRISIL BB+     220     Assigned
                                        Discounting Loan
Desai Homes                             Overdraft          CRISIL BB+     30      Assigned
Dhruv Cotton Processing Pvt Ltd         CC                 CRISIL BB+     200     Reaffirmed
Dhruv Cotton Processing Pvt Ltd         TL                 CRISIL BB+     430     Reaffirmed
Ganpati Minetech Pvt Ltd                CC                 CRISIL B+      10      Reaffirmed
Issuer Not Cooperating
Ganpati Minetech Pvt Ltd                Proposed LT Bk     CRISIL B+      62.5    Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Gargo Motors Ltd                        CC                 CRISIL B+      30      Reaffirmed
Gargo Motors Ltd                        Channel Financing  CRISIL B+      50      Reaffirmed
Gargo Motors Ltd                        Proposed LT Bk     CRISIL B+      20      Assigned
                                        Loan Fac
Gas Projects India Pvt Ltd              CC                 CRISIL B       30      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Gas Projects India Pvt Ltd              Proposed LT Bk     CRISIL B       2.5     Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Global Coal and Mining Pvt Ltd          CC                 CRISIL A+      500     Reaffirmed
Global Coal and Mining Pvt Ltd          TL                 CRISIL A+      2195    Reaffirmed
Harihar Industries - Kadi               CC                 CRISIL B       60      Reaffirmed
Issuer Not Cooperating
Harihar Industries - Kadi               Proposed LT Bk     CRISIL B       20      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Harihar Industries - Kadi               TL                 CRISIL B       20      Reaffirmed
Issuer Not Cooperating
HI - Tech Board Pvt Ltd                 CC                 CRISIL BB-     70      Reaffirmed
HI - Tech Board Pvt Ltd                 LT Loan            CRISIL BB-     150     Reaffirmed
HI - Tech Board Pvt Ltd                 Proposed LT Bk     CRISIL BB-     30      Reaffirmed
                                        Loan Fac
Jamnadas and Company                    CC                 CRISIL D       140     Downgraded
                                                                                  from CRISIL B
JM Financial Capital Ltd                NCD                CRISIL AA      2000    Reaffirmed
JM Financial Products Ltd               CC                 CRISIL AA      2000    Reaffirmed
JM Financial Products Ltd               LT Bk Fac          CRISIL AA      2000    Reaffirmed
JM Financial Products Ltd               Proposed LT Bk     CRISIL AA      1000    Reaffirmed
                                        Loan Fac
JM Financial Products Ltd               NCD                CRISIL AA      17000   Reaffirmed
Keyur Industries                        CC                 CRISIL B+      80      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Kusmasuli Multipurpose Cold Storage Pvt CC                 CRISIL B       52.9    Reaffirmed
Ltd
Kusmasuli Multipurpose Cold Storage Pvt Proposed LT Bk     CRISIL B       13.8    Reaffirmed
Ltd                                     Loan Fac
Kusmasuli Multipurpose Cold Storage Pvt TL                 CRISIL B       21.3    Reaffirmed
Ltd
Kusmasuli Multipurpose Cold Storage Pvt WC Fac             CRISIL B       4.5     Assigned
Ltd
Mann Residency Pvt Ltd                  TL                 CRISIL B-      190     Upgraded from
                                                                                  CRISIL C
Muthulaxmi Spinning Mills Pvt Ltd       CC                 CRISIL B       65      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Nilesh Timbers                          CC                 CRISIL B       20      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Nilesh Timbers                          Foreign LOC        CRISIL B       80      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Radhe Girdhari Cold Storage Pvt Ltd     TL                 CRISIL B       18      Assigned
Radhe Girdhari Cold Storage Pvt Ltd     CC                 CRISIL B       3       Assigned
Radhe Girdhari Cold Storage Pvt Ltd     LT Loan            CRISIL B       56      Assigned
Raghu Infra Pvt Ltd                     BG                 CRISIL D       750     Removed from
                                                                                  Notice of
                                                                                  withdrawal
Issuer Not Cooperating
Raghu Infra Pvt Ltd                     CC                 CRISIL D       400     Removed from
                                                                                  Notice of
                                                                                  withdrawal
Issuer Not Cooperating
Rajkamal Textiles                       CC                 CRISIL B+      85      Reaffirmed
Rajkamal Textiles                       Proposed LT Bk     CRISIL B+      14.4    Assigned
                                        Loan Fac
Rajkamal Textiles                       LT Loan            CRISIL B+      5       Assigned
Security Printing and Minting           Proposed LT Bk     CRISIL AAA     5000    Assigned
Corporation of India Ltd                Loan Fac
Sheba Properties Ltd                    Perpetual Bonds    CRISIL A+      4150    Assigned
Sheba Properties Ltd                    NCD                CRISIL AA      56050   Assigned
Sheba Properties Ltd                    Subordinated Debt  CRISIL AA      14000   Assigned
Sheba Properties Ltd                    Proposed LT Bk     CRISIL AA      73470   Assigned
                                        Loan Fac***
*** Rated and proposed limits as on 31st March 2017
Sheba Properties Ltd                    Proposed CC        CRISIL AA      2550    Assigned
                                        Limit@@***
@@ Facility is fungible with long-term bank facility; *** Rated and proposed limits as on 31st
March 2017
Sheba Properties Ltd                    LT Bk Fac **       CRISIL AA      73000   Assigned
**Sanctioned bank facilities as on 31st March 2017 (Note- Long-Term Bank Facilities are net of
repayments)
Sheba Properties Ltd                    CC & WC demand     CRISIL AA      44730   Assigned
                                        loan
Siliguri Builders Stores                CC                 CRISIL BB+     80      Upgraded from
                                                                                  CRISIL BB
Sri Lakshmi Godavari Spinning Mills Ltd CC                 CRISIL BB-     450     Reaffirmed
Sri Lakshmi Godavari Spinning Mills Ltd Proposed LT Bk     CRISIL BB-     76.1    Reaffirmed
                                        Loan Fac
Sri Lakshmi Godavari Spinning Mills Ltd TL                 CRISIL BB-     490     Assigned
Sudheer Infrastructure Pvt Ltd          Proposed BG        CRISIL BB      70      Upgraded from
                                                                                  CRISIL BB-
Sudheer Infrastructure Pvt Ltd          Secured Overdraft  CRISIL BB      47.5    Upgraded from
                                        Fac                                       CRISIL BB-
Sunil Trade Links                       CC                 CRISIL B+      55      Removed from
                                                                                  Notice of
                                                                                  withdrawal
Issuer Not Cooperating
Sunil Trade Links                       Proposed LT Bk     CRISIL B+      15      Removed from
                                        Loan Fac                                  Notice of
                                                                                  withdrawal
Issuer Not Cooperating
Swajit Engineering Pvt Ltd              CC                 CRISIL B+      55      Downgraded
                                                                                  from CRISIL BB
Swajit Engineering Pvt Ltd              Rupee TL           CRISIL B+      20      Downgraded
                                                                                  from CRISIL BB
Tata Motors Finance Ltd                 Perpetual Bonds    CRISIL A+      4150    Reaffirmed
Tata Motors Finance Ltd                 NCD                CRISIL AA      20000   Reaffirmed
Tata Motors Finance Ltd                 NCD                CRISIL AA      30000   Reaffirmed
Tata Motors Finance Ltd                 NCD                CRISIL AA      50000   Reaffirmed
Tata Motors Finance Ltd                 Subordinated Debt  CRISIL AA      14000   Reaffirmed
                                        Programme
Usha Cubals Pvt Ltd                     CC                 CRISIL B-      120     Reaffirmed
Usha Cubals Pvt Ltd                     LT Loan            CRISIL B-      80      Reaffirmed
Vinod Kumar Jain                        CC                 CRISIL BBB     110     Reaffirmed
Vinod Kumar Jain                        TL                 CRISIL BBB     20      Assigned
--------------------------------------------------------------------------------------------
$: 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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