May 24, 2017 / 6:02 AM / 2 months ago

CRISIL ratings for Indian debt instruments-May 24

22 Min Read

    May 24 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 23, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Amma Woods Pvt Ltd                      LOC                CRISIL A4      125     Reaffirmed
Arihant Printers                        BG                 CRISIL A4      2.2     Reaffirmed
Issuer Not Cooperating
Dilsukhbhai Ramanand Agarwal            BG                 CRISIL A4      90      Assigned
Eastern Treads Ltd                      BG                 CRISIL A4+     45      Reaffirmed
Eastern Treads Ltd                      Inland/Import LOC  CRISIL A4+     10      Reaffirmed
Eimco Elecon India Ltd                  CP                 CRISIL A1+     170     Reaffirmed
Eimco Elecon India Ltd                  LOC*               CRISIL A1+     260     Reaffirmed
*Interchangeable with bank guarantee
Eimco Elecon India Ltd                  LOC                CRISIL A1+     250     Reaffirmed
IDBI Bank Ltd                           CD Programme       CRISIL A1+     400000  Reaffirmed
Ideal Movers Pvt Ltd                    BG                 CRISIL A3      77.5    Upgraded from
                                                                                  CRISIL A4+
Indian Railway Finance Corporation Ltd  ST Debt Programme@ CRISIL A1+     120000  Reaffirmed
Enhanced from 8000 Crore; @Total short-term bank borrowings and borrowings under the rated
short-term debt programme not to exceed Rs.12000 crore at any point
J and B Engineering and Construction    BG                 CRISIL A4      20      Reassigned
Company
Jampeswar Agro Udyog Pvt Ltd            LOC                CRISIL A4+     2.7     Upgraded from
                                                                                  CRISIL A4
JWL Cold Store Pvt Ltd                  BG                 CRISIL A2      30      Reaffirmed
Leena Electro Mechanical Pvt Ltd        BG                 CRISIL A4+     96.5    Reaffirmed
Leena Electro Mechanical Pvt Ltd        Proposed ST Bk     CRISIL A4+     1.5     Assigned
                                        Loan Fac
Maa Joytara Rice Mill Pvt Ltd           BG                 CRISIL A4      1.7     Reaffirmed
Issuer Not Cooperating
Manoj Mathew                            BG                 CRISIL A4      20      Reaffirmed
Palathra Constructions                  BG                 CRISIL A4      20      Reassigned
Pir Panchal Construction Pvt Ltd (Joint BG                 CRISIL A4+     365     Assigned;
Venture)                                                                          Suspension
                                                                                  Revoked
Rajasthan Powergen Transformer Pvt Ltd  BG                 CRISIL A4+     80      Assigned
San Engineering and Locomotive Co. Ltd  BG                 CRISIL A1      480     Reaffirmed
San Engineering and Locomotive Co. Ltd  LOC                CRISIL A1      75      Reaffirmed
Sistema Shyam Teleservices Ltd          ST Loan            CRISIL A4+     3900    Watch
                                                                                  Developing
Veer Bundel Khand Press                 LOC                CRISIL A4      25      Reaffirmed
Issuer Not Cooperating
Viceroy Exports India Pvt Ltd           Foreign            CRISIL A4      100     Reaffirmed
                                        Discounting Bill
                                        Purchase
Issuer Not Cooperating
Vijex Vyapaar Pvt Ltd                   LOC                CRISIL A4      50      Reaffirmed
Issuer Not Cooperating
Vijex Vyapaar Pvt Ltd                   Proposed ST Bk     CRISIL A4      20      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
White House                             Foreign Bill       CRISIL A2      270     Reaffirmed
                                        Purchase
White House                             LOC & BG           CRISIL A2      20      Reaffirmed
White House                             Packing Credit     CRISIL A2      110     Reaffirmed
Wonder Construction                     BG                 CRISIL A4+     10      Assigned

MEDIUM TERM RATINGS:
-------------------
IDBI Bank Ltd                           FD Programme       FAA                    Downgraded
                                                                                  from FAA+
Rating Watch with Negative Implications

LONG TERM RATINGS:
-------------------
Akash Rice Industries                   CC                 CRISIL B+      90      Assigned
Amma Woods Pvt Ltd                      CC                 CRISIL B       71      Downgraded
                                                                                  from CRISIL B+
Annapurna Udyog                         CC                 CRISIL BB      120     Reaffirmed
Annapurna Udyog                         CC-Stock           CRISIL BB      30      Reaffirmed
Arihant Printers                        CC                 CRISIL B       10      Downgraded
                                                                                  from CRISIL B+
Arihant Printers                        Proposed LT Bk     CRISIL B       17.8    Downgraded
                                        Loan Fac                                  from CRISIL B+
Arihant Printers                        TL                 CRISIL B       45      Downgraded
                                                                                  from CRISIL B+
B.V.S. Distilleries Pvt Ltd             LT Loan            CRISIL B       290     Assigned
Casa Grande Distripark Pvt Ltd          TL                 CRISIL BBB-    425     Assigned
Casa Grande Distripark Pvt Ltd          Lease Rental       CRISIL BBB-    320     Assigned
                                        Discounting Loan
Casa Grande Distripark Pvt Ltd          Proposed LT Bk     CRISIL BBB-    255     Assigned
                                        Loan Fac
CGD Mappedu Pvt Ltd                     LT Loan            CRISIL BB+     60      Assigned
CGD Mappedu Pvt Ltd                     Proposed LT Bk     CRISIL BB+     65      Assigned
                                        Loan Fac
Eastern Treads Ltd                      CC                 CRISIL BB      200     Upgraded from
                                                                                  CRISIL BB-
Eimco Elecon India Ltd                  NCD                CRISIL A+      50      Reaffirmed
Eimco Elecon India Ltd                  CC                 CRISIL A+      20      Reaffirmed
Eimco Elecon India Ltd                  Proposed LT Bk     CRISIL A+      280     Reaffirmed
                                        Loan Fac
Exult Logistics Pvt Ltd                 CC                 CRISIL BBB-    150     Upgraded from
                                                                                  CRISIL BB+
Exult Logistics Pvt Ltd                 Proposed LT Bk     CRISIL BBB-    85      Upgraded from
                                        Loan Fac                                  CRISIL BB+
Exult Logistics Pvt Ltd                 TL                 CRISIL BBB-    25      Upgraded from
                                                                                  CRISIL BB+

Guptas Gold House                       CC                 CRISIL B       30      Assigned
Guptas Gold House                       LT Loan            CRISIL B       40      Assigned
ICICI Prudential Money Market Fund      ICICI Prudential   CRISIL AAAmfs          Reaffirmed
                                        Money Market Fund
IDBI Bank Ltd                           Upper Tier-II      CRISIL A       36362   Downgraded
                                        Bonds (Under Basel                        from CRISIL A+
                                        II)
Rating Watch with Negative Implications
IDBI Bank Ltd                           Tier-I Perpetual   CRISIL A       27088   Downgraded
                                        Bonds (Under Basel                        from CRISIL A+
                                        II)
Rating Watch with Negative Implications
IDBI Bank Ltd                           Tier II Bonds      CRISIL A+      20000   Downgraded
                                        (Under Basel III)                         from CRISIL
                                                                                  AA-
Rating Watch with Negative Implications
IDBI Bank Ltd                           Infrastructure     CRISIL A+      20000   Downgraded
                                        Bonds                                     from CRISIL
                                                                                  AA-
Rating Watch with Negative Implications
IDBI Bank Ltd                           Tier II Bonds      CRISIL A+      30000   Downgraded
                                        (Under Basel III)                         from CRISIL
                                                                                  AA-
Rating Watch with Negative Implications
IDBI Bank Ltd                           Infrastructure     CRISIL A+      80000   Downgraded
                                        Bonds                                     from CRISIL
                                                                                  AA-
Rating Watch with Negative Implications
IDBI Bank Ltd                           Senior/Lower       CRISIL A+      50000   Downgraded
                                        Tier-II Bonds                             from CRISIL
                                                                                  AA-
Rating Watch with Negative Implications
IDBI Bank Ltd                           Lower Tier-II      CRISIL A+      90416.8 Downgraded
                                        Bonds (Under Basel                        from CRISIL
                                        II)                                       AA-
Rating Watch with Negative Implications
IDBI Bank Ltd                           Omni Bonds         CRISIL A+      154795  Downgraded
                                                                                  from CRISIL
                                                                                  AA-
Rating Watch with Negative Implications
IDBI Bank Ltd                           Flexi Bonds        CRISIL A+      4659.6  Downgraded
                                                                                  from CRISIL
                                                                                  AA-
Rating Watch with Negative Implications
IDBI Bank Ltd                           Tier-I Bond Issue  CRISIL BBB+    25000   Downgraded
                                        (Under Basel III)                         from CRISIL A-
Rating Watch with Negative Implications
IDBI Bank Ltd                           Tier-I Bond Issue  CRISIL BBB+    20000   Downgraded
                                        (Under Basel III)                         from CRISIL A-
Rating Watch with Negative Implications
Ideal Movers Pvt Ltd                    CC                 CRISIL BBB-    1300    Upgraded from
                                                                                  CRISIL BB+
Ideal Movers Pvt Ltd                    Proposed LT Bk     CRISIL BBB-    131.7   Upgraded from
                                        Loan Fac                                  CRISIL BB+
Ideal Movers Pvt Ltd                    TL                 CRISIL BBB-    1610.8  Upgraded from
                                                                                  CRISIL BB+
Indian Railway Finance Corporation Ltd  LT Borrowing       CRISIL AAA     400000  Assigned
                                        Programme
Indian Railway Finance Corporation Ltd  NCDs               CRISIL AAA     616840  Reaffirmed
Indian Railway Finance Corporation Ltd  Bonds (Including   CRISIL AAA     1342790 Reaffirmed
                                        Bonds and TL)
J and B Engineering and Construction    CC                 CRISIL B-      35      Reaffirmed
Company
J and B Engineering and Construction    Proposed LT Bk     CRISIL B-      45      Assigned
Company                                 Loan Fac
Jampeswar Agro Udyog Pvt Ltd            CC                 CRISIL BB-     45      Upgraded from
                                                                                  CRISIL B+
Jampeswar Agro Udyog Pvt Ltd            Proposed LT Bk     CRISIL BB-     27.8    Upgraded from
                                        Loan Fac                                  CRISIL B+
Jampeswar Agro Udyog Pvt Ltd            TL                 CRISIL BB-     37.5    Upgraded from
                                                                                  CRISIL B+
Jesus Fisheries                         Secured Overdraft  CRISIL B       7.5     Assigned
                                        Fac
Jesus Fisheries                         Proposed LT Bk     CRISIL B       4.4     Assigned
                                        Loan Fac
Jesus Fisheries                         Cash TL            CRISIL B       63.6    Assigned
Jesus Fisheries                         Drop Line          CRISIL B       24.5    Assigned
                                        Overdraft Fac
JWL Cold Store Pvt Ltd                  CC                 CRISIL BBB+    20      Reaffirmed
JWL Cold Store Pvt Ltd                  Drop Line          CRISIL BBB+    17      Reaffirmed
                                        Overdraft Fac
JWL Cold Store Pvt Ltd                  TL                 CRISIL BBB+    193     Reaffirmed
Kanchan International                   CC                 CRISIL B+      80      Assigned
Leena Electro Mechanical Pvt Ltd        CC                 CRISIL BB-     40      Reaffirmed
Leena Electro Mechanical Pvt Ltd        Proposed LT Bk     CRISIL BB-     62      Reaffirmed
                                        Loan Fac
Maa Joytara Rice Mill Pvt Ltd           CC                 CRISIL B       44.5    Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Maa Joytara Rice Mill Pvt Ltd           Proposed LT Bk     CRISIL B       98.3    Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Maa Joytara Rice Mill Pvt Ltd           Standby LOC        CRISIL B       5.5     Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Manoj Mathew                            CC                 CRISIL B+      80      Reaffirmed
Muthoot Microfin Ltd                    Proposed LT Bk     CRISIL A-      63      Reaffirmed
                                        Loan Fac
Muthoot Microfin Ltd                    TL                 CRISIL A-      4437    Assigned
Muthoot Microfin Ltd                    NCD                CRISIL A-      400     Reaffirmed
Muthoot Microfin Ltd                    NCD                CRISIL A-      650     Reaffirmed
Muthoot Microfin Ltd                    NCD                CRISIL A-      700     Reaffirmed
Muthoot Microfin Ltd                    NCD                CRISIL A-      700     Reaffirmed
Paittakulam Marbles                     CC                 CRISIL BB      90      Reaffirmed
Paittakulam Marbles                     LT Loan            CRISIL BB      10      Reaffirmed
Palathra Constructions                  CC                 CRISIL B+      100     Assigned
Rajasthan Powergen Transformer Pvt Ltd  Proposed LT Bk     CRISIL BB-     4.5     Assigned
                                        Loan Fac
Rajasthan Powergen Transformer Pvt Ltd  LT Loan            CRISIL BB-     21.5    Assigned
Rajasthan Powergen Transformer Pvt Ltd  CC                 CRISIL BB-     39      Assigned
Ramrati Jagdish Pvt Ltd                 CC                 CRISIL B+      70      Assigned
Roja Note Book Company Pvt Ltd          CC                 CRISIL B+      50      Assigned
Roja Note Book Company Pvt Ltd          Cash TL            CRISIL B+      5       Assigned
Sameera Hotels (Chennai) Pvt Ltd        LT Loan            CRISIL B-      260     Assigned
San Engineering and Locomotive Co. Ltd  CC                 CRISIL A-      120     Reaffirmed
Shubham Polyspin Pvt Ltd                CC                 CRISIL BB-     48      Upgraded from
                                                                                  CRISIL B+
Shubham Polyspin Pvt Ltd                Proposed LT Bk     CRISIL BB-     9       Upgraded from
                                        Loan Fac                                  CRISIL B+
Shubham Polyspin Pvt Ltd                TL                 CRISIL BB-     63      Upgraded from
                                                                                  CRISIL B+
Sistema Shyam Teleservices Ltd          BG                 CRISIL BB      7670    Watch
                                                                                  Developing
SMS Shivnath Infrastructure Ltd         LT Loan            CRISIL BBB+    2000    Reaffirmed
Placed on Rating Watch with Positive Implications
Sri Lakshmi Kamakshi Raw & Boiled Rice  CC                 CRISIL B+      80      Assigned
Mill
Sri Lakshmi Kamakshi Raw & Boiled Rice  LT Loan            CRISIL B+      18      Assigned
Mill
Veer Bundel Khand Press                 CC                 CRISIL B       47.5    Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Veer Bundel Khand Press                 Proposed LT Bk     CRISIL B       2.5     Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Velavan Hyper Market                    CC                 CRISIL B       80      Reaffirmed
Velavan Stores                          CC                 CRISIL B       120     Reaffirmed
Velavan Stores Jewellers                CC                 CRISIL B       150     Reaffirmed
Velavan Stores Jewellers                LT Loan            CRISIL B       50      Assigned
Viceroy Exports India Pvt Ltd           Packing Credit     CRISIL B       100     Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Viceroy Exports India Pvt Ltd           Proposed LT Bk     CRISIL B       50      Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Vijex Vyapaar Pvt Ltd                   CC                 CRISIL B       12      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
V-Trans India Ltd                       CC                 CRISIL BBB+    75      Reaffirmed
White House                             LT Loan            CRISIL BBB+    50      Reaffirmed
White House                             Proposed LT Bk     CRISIL BBB+    182.5   Assigned
                                        Loan Fac
Wonder Construction                     Overdraft          CRISIL BB      90      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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