May 22, 2017 / 5:05 AM / 4 months ago

CRISIL ratings for Indian debt instruments-May 22

    May 22 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 19, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
AIA Engineering Ltd                     LOC & BG^          CRISIL A1+     500     Reaffirmed
^Bank Guarantee is a sub-limit (of Rs.20 Crore) of the total limit
Amartara Pvt Ltd                        BG                 CRISIL A4+     1       Reaffirmed
Ambertex Sekhsaria Exports              BG                 CRISIL A4      0.2     Reaffirmed
Ambertex Sekhsaria Exports              LOC                CRISIL A4      10      Reaffirmed
Ambertex Sekhsaria Exports              Packing Credit     CRISIL A4      20      Reaffirmed
Bhagat Aromatics Ltd                    LOC & BG           CRISIL A4+     9.7     Reaffirmed
Bhagat Aromatics Ltd                    Packing Credit in  CRISIL A4+     120     Reaffirmed
                                        Foreign Currency
Bharat Chemical                         Foreign Exchange   CRISIL A4+     2.5     Reaffirmed
                                        Forward
Datamatics Global Services Ltd          Packing Credit#    CRISIL A1      200     Reaffirmed
#Interchangeable with overdraft to the extent of Rs 5 crore, import letter of credit to the
extent of Rs 3 crore, and bank guarantee to the extent of Rs 3 crore.
Datamatics Global Services Ltd          Packing Credit     CRISIL A1      150     Reaffirmed
Datamatics Global Services Ltd          Proposed ST Bk     CRISIL A1      150     Reaffirmed
                                        Loan Fac
Eternis Fine Chemicals Ltd              Proposed WC Fac*   CRISIL A1      400     Upgraded from
                                                                                  CRISIL A2+
*Fully interchangeable with export bill purchase-discounting, letter of credit, buyer's credit,
and packing credit
Hardev Construction Pvt Ltd             BG                 CRISIL A4+     200     Downgraded
                                                                                  from CRISIL
                                                                                  A3*
Issuer Not Cooperating 
*Issuer did not cooperate; based on best-available information
Hardev Construction Pvt Ltd             Proposed ST Bk     CRISIL A4+     100     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  A3*
Issuer Not Cooperating 
*Issuer did not cooperate; based on best-available information
Hinduja Global Solutions Ltd            Packing Credit     CRISIL A1+     750     Reaffirmed
Just Textiles Ltd                       LOC                CRISIL A4      7.8     Upgraded from
                                                                                  CRISIL D
Jyoti Construction                      BG                 CRISIL A4+     60      Reaffirmed
Kanti Bijlee Utpadan Nigam Ltd          BG                 CRISIL A3      1000    Reaffirmed
New Line Exports                        BG                 CRISIL A4+     0.3     Assigned
PCP International Ltd                   BG                 CRISIL A4+     650     Downgraded
                                                                                  from CRISIL A3
Platina Vitrified Pvt Ltd               BG                 CRISIL A4+     37.5    Reaffirmed
Printwell International Pvt Ltd         BG                 CRISIL A4      6       Reaffirmed
Shiwalya Spinning and Weaving Mills Pvt LOC                CRISIL A3      90      Assigned
Ltd
Shree Bharat International Pvt Ltd      Foreign Bill       CRISIL A2+     70      Upgraded from
                                        Discounting                               CRISIL A2
Shree Bharat International Pvt Ltd      Overdraft          CRISIL A2+     10      Upgraded from
                                                                                  CRISIL A2
Shree Bharat International Pvt Ltd      Packing Credit     CRISIL A2+     70      Upgraded from
                                                                                  CRISIL A2
Shubham Civil Projects Pvt Ltd          BG                 CRISIL A3+     130     Upgraded from
                                                                                  CRISIL A3
Sundaram BNP Paribas Home Finance Ltd   ST Debt (Including CRISIL A1+     4000    Reaffirmed
                                        CP)
TAQA Neyveli Power Company Pvt Ltd      BG**               CRISIL A1+     500     Reaffirmed
**Interchangeable with letter of credit
Unique Concrete Technologies Pvt Ltd    BG                 CRISIL A4+     50      Reaffirmed
Youngman Woollen Mills Pvt Ltd          BG                 CRISIL A3      5       Reaffirmed
Youngman Woollen Mills Pvt Ltd          Foreign LOC        CRISIL A3      42.5    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Sundaram BNP Paribas Home Finance Ltd   FD Programme       FAA+           -       Reaffirmed




LONG TERM RATINGS:
-------------------
AIA Engineering Ltd                     CC & WC demand     CRISIL AA+     1000    Reaffirmed
                                        loan*
*Interchangeable with usance bill discounting, export packing credit, foreign bills discounting,
and letter of credit 
Amartara Pvt Ltd                        Line of Credit     CRISIL BB-     250     Reaffirmed
Amartara Pvt Ltd                        Proposed LT Bk     CRISIL BB-     44.6    Reaffirmed
                                        Loan Fac
Amartara Pvt Ltd                        Rupee TL           CRISIL BB-     3.8     Reaffirmed
Amartara Pvt Ltd                        TL                 CRISIL BB-     15.4    Reaffirmed
Ambertex Sekhsaria Exports              CC                 CRISIL B+      37      Upgraded from
                                                                                  CRISIL B
Ambertex Sekhsaria Exports              Foreign Bill       CRISIL B+      45      Upgraded from
                                        Discounting                               CRISIL B
Ambertex Sekhsaria Exports              LT Loan            CRISIL B+      5       Upgraded from
                                                                                  CRISIL B
Ambertex Sekhsaria Exports              Overdraft          CRISIL B+      2.5     Upgraded from
                                                                                  CRISIL B
Ambertex Sekhsaria Exports              Proposed LT Bk     CRISIL B+      8.8     Upgraded from
                                        Loan Fac                                  CRISIL B
Annur Sriambal Fabrics Pvt Ltd          CC                 CRISIL B       30      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Annur Sriambal Fabrics Pvt Ltd          LT Loan            CRISIL B       34.6    Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Annur Sriambal Fabrics Pvt Ltd          Proposed LT Bk     CRISIL B       3.7     Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Arjun Pulp and Paper India Pvt Ltd      LT Loan            CRISIL D       226     Reaffirmed
Bhagat Aromatics Ltd                    Bill Discounting   CRISIL BB-     65      Reaffirmed

Bhagat Aromatics Ltd                    CC                 CRISIL BB-     20      Reaffirmed
Bhagat Aromatics Ltd                    Proposed LT Bk     CRISIL BB-     20.3    Reaffirmed
                                        Loan Fac
Bharat Chemical                         Buyer`s Credit     CRISIL BB+     72.5    Upgraded from
                                                                                  CRISIL BB
Bharat Chemical                         CC                 CRISIL BB+     20      Upgraded from
                                                                                  CRISIL BB
Bhaskar Educational Society             CC                 CRISIL BB-     7.9     Assigned
Bhaskar Educational Society             TL                 CRISIL BB-     42.1    Assigned
Clara Swain Hospital J.V.               TL                 CRISIL D       75      Assigned
Devans Modern Breweries Ltd             BG                 CRISIL D       10      Reaffirmed
Devans Modern Breweries Ltd             CC                 CRISIL D       450     Reaffirmed
Devans Modern Breweries Ltd             Proposed LT Bk     CRISIL D       223     Reaffirmed
                                        Loan Fac
Devans Modern Breweries Ltd             TL                 CRISIL D       507     Reaffirmed
Eternis Fine Chemicals Ltd              CC*                CRISIL A-      510     Reaffirmed
*Fully interchangeable with export bill purchase-discounting, letter of credit, buyer's credit,
and packing credit
Eternis Fine Chemicals Ltd              FCNR Loan          CRISIL A-      326.7   Reaffirmed
Eternis Fine Chemicals Ltd              Foreign Currency TLCRISIL A-      35.3    Reaffirmed
Eternis Fine Chemicals Ltd              Proposed LT Bk     CRISIL A-      600     Reaffirmed
                                        Loan Fac
Globe Mobility Pvt Ltd                  CC                 CRISIL B+      65      Assigned
Hardev Construction Pvt Ltd             Overdraft          CRISIL BB+     10      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Issuer Not Cooperating
Hinduja Global Solutions Ltd            CC*                CRISIL A+      1000    Reaffirmed
*Interchangeable with post-shipment credit of Rs 45 crore and LC limit of Rs 10 crore
Hinduja Global Solutions Ltd            Packing Credit^    CRISIL A+      955     Reaffirmed
^Interchangeable with CC limits of Rs 25 crore
Hinduja Global Solutions Ltd            TL                 CRISIL A+      925     Reaffirmed
Indo Baijin Chemicals Pvt Ltd           WC Fac             CRISIL A-      458     Assigned
Indo Baijin Chemicals Pvt Ltd           External           CRISIL A-      978.5   Assigned
                                        Commercial
                                        Borrowings
Indo Baijin Chemicals Pvt Ltd           TL                 CRISIL A-      713.5   Assigned
Jeevan Jyoti Health Care and Research   Proposed LT Bk     CRISIL B       465     Downgraded
Centre Pvt Ltd                          Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
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
Just Textiles Ltd                       CC                 CRISIL B       92.2    Upgraded from
                                                                                  CRISIL D
Jyoti Construction                      Drop Line          CRISIL BB-     30      Reaffirmed
                                        Overdraft Fac
Jyoti Construction                      LT Loan            CRISIL BB-     10      Reaffirmed
Jyoti Construction                      Proposed LT Bk     CRISIL BB-     30      Assigned
                                        Loan Fac
Kamakshi Steels Pvt Ltd                 CC                 CRISIL B+      90      Assigned
Kamakshi Steels Pvt Ltd                 LT Loan            CRISIL B+      10      Assigned
Kanti Bijlee Utpadan Nigam Ltd          CC                 CRISIL BBB-    2200    Reaffirmed
Kanti Bijlee Utpadan Nigam Ltd          LT Loan            CRISIL BBB-    23412.8 Reaffirmed
Kanti Bijlee Utpadan Nigam Ltd          Proposed CC Limit  CRISIL BBB-    3150    Reaffirmed
Kanti Bijlee Utpadan Nigam Ltd          Proposed LT Bk     CRISIL BBB-    4240    Reaffirmed
                                        Loan Fac
Keshav Madhav Agro Enterprises Pvt Ltd  CC                 CRISIL B       80      Issuer Not
                                                                                  Cooperating
Keshav Madhav Agro Enterprises Pvt Ltd  Proposed LT Bk     CRISIL B       5       Issuer Not
                                        Loan Fac                                  Cooperating
Keshav Madhav Agro Enterprises Pvt Ltd  TL                 CRISIL B       65      Issuer Not
                                                                                  Cooperating
Khetan Tiles Pvt Ltd                    CC                 CRISIL B       55      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Khetan Tiles Pvt Ltd                    TL                 CRISIL B       13.4    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Kripa Anand Rishi Cellular Pvt Ltd      CC                 CRISIL B       95      Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Kripa Anand Rishi Cellular Pvt Ltd      Proposed LT Bk     CRISIL B       5       Downgraded
                                        Loan Fac                                  from CRISIL BB
Issuer Not Cooperating
Malganga Milk and Agro Products Pvt Ltd CC                 CRISIL B       50      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating;
Malganga Milk and Agro Products Pvt Ltd Proposed LT Bk     CRISIL B       30      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating;
Malganga Milk and Agro Products Pvt Ltd TL                 CRISIL B       60      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating;
Mantra Softech India Pvt Ltd            CC@#               CRISIL B+      100     Assigned
# Letter of Credit is sub limit of Cash Credit to the extent of Rs. 3.00 Cr. @ Bank Guarantee is
sub limit of Cash Credit to the extent of Rs. 3.00 Cr.
Mona Townships Pvt Ltd                  TL                 CRISIL B       350     Assigned
Mulchand Phulchand Krishi Udyog Pvt Ltd CC                 CRISIL BB-     120     Reaffirmed
National Auto Wheels Pvt Ltd            Electronic Dealer  CRISIL B       50      Assigned
                                        Financing
                                        Scheme(e-DFS)
National Auto Wheels Pvt Ltd            Proposed LT Bk     CRISIL B       75      Assigned
                                        Loan Fac
New Line Exports                        Proposed FB Bk     CRISIL BB      5.7     Assigned
                                        Limits
New Line Exports                        LT Loan            CRISIL BB      6       Assigned
New Line Exports                        Export Packing     CRISIL BB      88      Assigned
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
NLC India Ltd                           LOC & BG           CRISIL AAA     8000    Reaffirmed
NLC India Ltd                           Proposed LT Bk     CRISIL AAA     37410   Reaffirmed
                                        Loan Fac
NLC India Ltd                           WC Demand Loan     CRISIL AAA     22000   Assigned
Pawan Shree Food International Pvt Ltd  CC                 CRISIL BB      150     Assigned
Pawan Shree Food International Pvt Ltd  TL                 CRISIL BB      55      Assigned
PCP International Ltd                   CC                 CRISIL BB+     150     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
PCP International Ltd                   Proposed TL        CRISIL BB+     63.5    Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
PCP International Ltd                   TL                 CRISIL BB+     50      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Platina Vitrified Pvt Ltd               CC                 CRISIL BB      90      Reaffirmed
Platina Vitrified Pvt Ltd               TL                 CRISIL BB      160     Reaffirmed
Plaza Wires Pvt Ltd                     TL                 CRISIL BBB-    12      Assigned
Plaza Wires Pvt Ltd                     CC                 CRISIL BBB-    287     Assigned
Plaza Wires Pvt Ltd                     Proposed LT Bk     CRISIL BBB-    1       Assigned
                                        Loan Fac
Printwell International Pvt Ltd         CC                 CRISIL B       24      Reaffirmed
Printwell International Pvt Ltd         Proposed LT Bk     CRISIL B       24.6    Reaffirmed
                                        Loan Fac
Printwell International Pvt Ltd         TL                 CRISIL B       32      Reaffirmed
Puja Industries                         CC                 CRISIL B+      65      Reaffirmed
Puja Industries                         Proposed LT Bk     CRISIL B+      48.9    Reaffirmed
                                        Loan Fac
Puja Industries                         TL                 CRISIL B+      5.2     Reaffirmed
Purna Fisheries Pvt Ltd                 CC                 CRISIL B       150     Downgraded
                                                                                  from CRISIL B+
Purna Fisheries Pvt Ltd                 Proposed LT Bk     CRISIL B       40      Downgraded
                                        Loan Fac                                  from CRISIL B+
Rajendraguru Group                      TL                 CRISIL B-      240     Assigned
Sai Lakshmi Milk Products               CC                 CRISIL BB      50      Assigned
Salasarlene Dress Fab Pvt Ltd           CC                 CRISIL B       90      Upgraded from
                                                                                  CRISIL B-
Salasarlene Dress Fab Pvt Ltd           LT Loan            CRISIL B       26      Upgraded from
                                                                                  CRISIL B-
Sant Foods Pvt Ltd                      CC                 CRISIL BB-     104     Assigned
Sant Foods Pvt Ltd                      Warehouse Receipts CRISIL BB-     100     Assigned
Shiv Snax Pvt Ltd                       CC                 CRISIL B       5       Downgraded
                                                                                  from CRISIL BB
Shiv Snax Pvt Ltd                       Proposed LT Bk     CRISIL B       50      Downgraded
                                        Loan Fac                                  from CRISIL BB
Shiv Snax Pvt Ltd                       TL                 CRISIL B       25      Downgraded
                                                                                  from CRISIL BB
Shiwalya Spinning and Weaving Mills Pvt CC                 CRISIL BBB-    310     Assigned
Ltd
Shree Bharat International Pvt Ltd      Proposed LT Bk     CRISIL BBB+    49.9    Reaffirmed
                                        Loan Fac
Shri Veerganapathi Steels Pvt Ltd       CC                 CRISIL B       100     Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Shubham Civil Projects Pvt Ltd          CC                 CRISIL BBB     150     Upgraded from
                                                                                  CRISIL BBB-
Sneh Quality Spices Pvt Ltd             Proposed LT Bk     CRISIL B+      10      Reaffirmed
                                        Loan Fac
Sneh Quality Spices Pvt Ltd             TL                 CRISIL B+      60      Reaffirmed
Sundaram BNP Paribas Home Finance Ltd   Tier II Bond Issue CRISIL AA      700     Withdrawal
TAQA Neyveli Power Company Pvt Ltd      CC*                CRISIL AA-     1000    Reaffirmed
* Interchangeable with working capital demand loan
Terai Ispat & Trading Pvt. Ltd.         CC                 CRISIL BB-     300     Upgraded from
                                                                                  CRISIL B
Terai Overseas Pvt Ltd                  CC                 CRISIL BB-     280     Upgraded from
                                                                                  CRISIL B+
Trimurti Jewellers                      CC                 CRISIL B       100     Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
TVC Electronics                         CC                 CRISIL B       40      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
TVC Electronics                         Proposed LT Bk     CRISIL B       25      Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
TVC Electronics                         Standby Line of    CRISIL B       5       Downgraded
                                        Credit                                    from CRISIL B+
Issuer Not Cooperating
Unique Concrete Technologies Pvt Ltd    Proposed LT Bk     CRISIL BB      10      Reaffirmed
                                        Loan Fac
Vardhman Knit                           CC                 CRISIL B+      60      Reaffirmed
Vardhman Knit                           Proposed LT Bk     CRISIL B+      10      Reaffirmed
                                        Loan Fac
Vastu Housing Finance Corporation Ltd   CC                 CRISIL BBB+    30      Reaffirmed
Vastu Housing Finance Corporation Ltd   LT Bk Fac          CRISIL BBB+    170     Reaffirmed
Vastu Housing Finance Corporation Ltd   Proposed LT Bk     CRISIL BBB+    1800    Reaffirmed
                                        Loan Fac
Vittal Agro Industries                  CC/ Overdraft Fac  CRISIL BB      35      Assigned
Vittal Agro Industries                  Proposed WC Fac    CRISIL BB      20      Assigned
Youngman Woollen Mills Pvt Ltd          CC                 CRISIL BBB-    350     Reaffirmed
Youngman Woollen Mills Pvt Ltd          Standby Line of    CRISIL BBB-    36.5    Reaffirmed
                                        Credit
Youngman Woollen Mills Pvt Ltd          TL                 CRISIL BBB-    266     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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