July 7, 2017 / 6:29 AM / 19 days ago

CRISIL ratings for Indian debt instruments-Jul 7

21 Min Read

    Jul 7 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of July 6, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aashiana Rolling Mills Ltd              BG                 CRISIL A3      10      Reaffirmed
Advance Die Cast                        BG                 CRISIL A4+     1       Reaffirmed
Amoda Iron and Steel Ltd                BG                 CRISIL A4      3.4     Assigned
Amoda Iron and Steel Ltd                LOC                CRISIL A4      36.3    Assigned
Approcopp Engineering Pvt Ltd           Foreign Exchange   CRISIL A4+     1.6     Reaffirmed
                                        Forward
Approcopp Engineering Pvt Ltd           LOC                CRISIL A4+     25      Reaffirmed
Arrow Cables Ltd                        BG                 CRISIL A4      100     Reaffirmed
AutoTEC Systems Pvt Ltd                 BG                 CRISIL A4      67.5    Downgraded
                                                                                  from CRISIL
                                                                                  A4+
AutoTEC Systems Pvt Ltd                 LOC                CRISIL A4      20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Bhagwati Power and Steel Ltd            LOC                CRISIL A3+     200     Upgraded from
                                                                                  CRISIL A3
Borkar Packaging Pvt Ltd                LOC & BG           CRISIL A3+     308     Reaffirmed
Borkar Packaging Pvt Ltd                Packing Credit     CRISIL A3+     30      Reaffirmed
Bothra Shipping Services Pvt Ltd        BG                 CRISIL A1      150     Reaffirmed
Calico Impex                            LOC                CRISIL A4+     30      Reaffirmed
Clad Metal India Pvt Ltd                LOC                CRISIL A3+     300     Upgraded from
                                                                                  CRISIL A3
Daga Global Chemicals Pvt Ltd           BG                 CRISIL A3      20      Reaffirmed
Daga Global Chemicals Pvt Ltd           Bill Discounting   CRISIL A3      70      Reaffirmed
Daga Global Chemicals Pvt Ltd           Cheque Discounting CRISIL A3      2       Reaffirmed
Daga Global Chemicals Pvt Ltd           LOC                CRISIL A3      675     Reaffirmed
Diaexports Corporation                  Post Shipment      CRISIL A4+     50      Reaffirmed
                                        Credit
Diaexports Corporation                  Proposed ST Bk     CRISIL A4+     40      Reaffirmed
                                        Loan Fac
DSP Infratech Pvt Ltd                   BG                 CRISIL A4      3       Assigned
Elegant Coatings Pvt Ltd                LOC                CRISIL A3+     80      Upgraded from
                                                                                  CRISIL A3
Krans Projects Pvt Ltd                  BG                 CRISIL A4+     144.5   Upgraded from
                                                                                  CRISIL A4
Laxcon Steels Ltd                       Inland/Import LOC@ CRISIL A3+     640     Reaffirmed
@Inland / Import letter of credit is interchangeable with Buyers Credit to the extent of Rs
64.00 crore.
Laxcon Steels Ltd                       Letter Of          CRISIL A3+     60      Reaffirmed
                                        Guarantee#
# Letter of guarantee is interchangeable with buyers credit to the extent of Rs 6.00 crore.
M.S Menthol Pvt Ltd                     Packing Credit     CRISIL A4      30      Reaffirmed
MPIL Steel Structures Ltd               Bill Discounting   CRISIL A3      50      Reaffirmed
MPIL Steel Structures Ltd               LOC & BG           CRISIL A3      150     Reaffirmed
MPIL Steel Structures Ltd               Proposed ST Bk     CRISIL A3      12      Reaffirmed
                                        Loan Fac
Pearl Infotech                          BG                 CRISIL A4      70      Assigned
PK Thungan Builders Pvt Ltd             BG                 CRISIL A4      50      Reaffirmed
Prestigious Scors Pvt Ltd               BG                 CRISIL A4+     35      Reaffirmed
Rachna Plasticizers                     BG                 CRISIL A3+     4       Reaffirmed
Rachna Plasticizers                     Inland/Import LOC  CRISIL A3+     80      Reaffirmed
S. S. Engineers                         BG                 CRISIL A3      540     Assigned
Sahney Commutators Pvt Ltd              LOC & BG           CRISIL A3+     44      Reaffirmed
Satya Surya Aluminium Industries Ltd    BG                 CRISIL A4      45      Upgraded from
                                                                                  CRISIL D
Shanti Structure Pvt Ltd                BG                 CRISIL A4+     175     Reaffirmed
Sharmili Spices Pvt Ltd                 Foreign Bill       CRISIL A4+     100     Reaffirmed
                                        Purchase
Sharmili Spices Pvt Ltd                 Packing Credit     CRISIL A4+     70      Reaffirmed
Tega Industries Ltd                     LOC#               CRISIL A2      665.8   Reaffirmed
#Fully interchangeable with Letter of Credit, Bank Guarantee & Buyers Credit.
Titan Co. Ltd                           Proposed LOC**     CRISIL A1+     4500    Reaffirmed
**Interchangeable with standby letter of credit and bank guarantees
Universal Cartons Solutions Pvt Ltd     LOC                CRISIL A3+     150     Reaffirmed

LONG TERM RATINGS:
-------------------
Aashiana Rolling Mills Ltd              CC                 CRISIL BBB-    215     Reaffirmed
Aashiana Rolling Mills Ltd              LT Loan            CRISIL BBB-    15      Reaffirmed
Aashiana Rolling Mills Ltd              Proposed LT Bk     CRISIL BBB-    20      Assigned
                                        Loan Fac
Advance Die Cast                        CC                 CRISIL BB-     35      Reaffirmed
Advance Die Cast                        Proposed LT Bk     CRISIL BB-     1.2     Reaffirmed
                                        Loan Fac
Advance Die Cast                        TL                 CRISIL BB-     85.7    Reaffirmed
Amoda Iron and Steel Ltd                Open CC            CRISIL B+      90      Assigned
Amoda Iron and Steel Ltd                LT Loan            CRISIL B+      27.9    Assigned
Approcopp Engineering Pvt Ltd           CC                 CRISIL BB      55      Reaffirmed
Arrow Cables Ltd                        CC                 CRISIL B+      100     Reaffirmed
Arrow Cables Ltd                        Proposed LT Bk     CRISIL B+      65      Reaffirmed
                                        Loan Fac
Assam Bengal Navigation Company Pvt Ltd TL                 CRISIL BB      63      Reaffirmed
AutoTEC Systems Pvt Ltd                 CC                 CRISIL B+      20      Downgraded
                                                                                  from 
                                                                                  CRISIL BB
AutoTEC Systems Pvt Ltd                 Proposed CC Limit  CRISIL B+      65      Downgraded
                                                                                  from 
                                                                                  CRISIL BB
Bhagwati Power and Steel Ltd            CC                 CRISIL BBB     170     Upgraded from
                                                                                  CRISIL BBB-
Bhagwati Power and Steel Ltd            Proposed LT Bk     CRISIL BBB     39.5    Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Bhagwati Power and Steel Ltd            TL                 CRISIL BBB     175.5   Upgraded from
                                                                                  CRISIL BBB-
Bhagwati Power and Steel Ltd            WC Demand Loan     CRISIL BBB     65      Upgraded from
                                                                                  CRISIL BBB-
Borkar Packaging Pvt Ltd                CC                 CRISIL BBB     520     Reaffirmed
Borkar Packaging Pvt Ltd                LT Loan            CRISIL BBB     252     Reaffirmed
Borkar Packaging Pvt Ltd                Proposed LT Bk     CRISIL BBB     58.3    Reaffirmed
                                        Loan Fac
Bothra Shipping Services Pvt Ltd        Buyer`s Credit     CRISIL A       230     Reaffirmed
Bothra Shipping Services Pvt Ltd        CC                 CRISIL A       150     Reaffirmed
Bothra Shipping Services Pvt Ltd        Proposed LT Bk     CRISIL A       70      Reaffirmed
                                        Loan Fac
Bothra Shipping Services Pvt Ltd        TL                 CRISIL A       1480    Reaffirmed
Calico Impex                            Export Packing     CRISIL BB+     80      Reaffirmed
                                        Credit
Calico Impex                            Foreign Bill       CRISIL BB+     40      Reaffirmed
                                        Purchase
Clad Metal India Pvt Ltd                CC                 CRISIL BBB     30      Upgraded from
                                                                                  CRISIL BBB-
Clad Metal India Pvt Ltd                TL                 CRISIL BBB     80      Upgraded from
                                                                                  CRISIL BBB-
Daga Global Chemicals Pvt Ltd           Overdraft          CRISIL BBB-    260     Reaffirmed
Daga Global Chemicals Pvt Ltd           Proposed LT Bk     CRISIL BBB-    23      Reaffirmed
                                        Loan Fac
Deron Properties Pvt Ltd                CC                 CRISIL B+      125     Reaffirmed
Deron Properties Pvt Ltd                Proposed Rupee TL  CRISIL B+      500     Reaffirmed
Deron Properties Pvt Ltd                Rupee TL           CRISIL B+      175     Reaffirmed
DSP Infratech Pvt Ltd                   Secured Overdraft  CRISIL B+      25      Assigned
                                        Fac
DSP Infratech Pvt Ltd                   Proposed LT Bk     CRISIL B+      92      Assigned
                                        Loan Fac
Elegant Coatings Pvt Ltd                CC                 CRISIL BBB     45      Upgraded from
                                                                                  CRISIL BBB-
Elegant Coatings Pvt Ltd                TL                 CRISIL BBB     70      Upgraded from
                                                                                  CRISIL BBB-
Excel Engineers and Consultants         Proposed LT Bk     CRISIL BB-     100     Reaffirmed
                                        Loan Fac
Hampi Expressways Pvt Ltd               LT Loan            CRISIL BBB-    10630   Reaffirmed
Jain Coal Services                      CC                 CRISIL BB      150     Reaffirmed
Jain Coal Services                      Proposed LT Bk     CRISIL BB      250     Reaffirmed
                                        Loan Fac
Jayanth Industries                      CC                 CRISIL B+      63.3    Reaffirmed
Jayanth Industries                      Standby Line of    CRISIL B+      6.7     Reaffirmed
                                        Credit
KKR India Financial Services Pvt Ltd    Overdraft#         CRISIL AA      993.8   Reaffirmed
KKR India Financial Services Pvt Ltd    Proposed LT Bk     CRISIL AA      1506.2  Reaffirmed
                                        Loan Fac
KKR India Financial Services Pvt Ltd    TL                 CRISIL AA      21500   Reaffirmed
Kongunadu Educational Charitable Trust  Proposed LT Bk     CRISIL BB+     253     Reaffirmed
                                        Loan Fac
Kongunadu Educational Charitable Trust  Rupee TL           CRISIL BB+     107     Reaffirmed
Krans Projects Pvt Ltd                  CC                 CRISIL BB-     65      Upgraded from
                                                                                  CRISIL B+
Kundan Cars Pvt Ltd                     CC                 CRISIL BB      40      Reaffirmed
Kundan Cars Pvt Ltd                     Inventory Funding  CRISIL BB      270     Reaffirmed
                                        Fac
Kundan Cars Pvt Ltd                     Loan Against       CRISIL BB      47      Reaffirmed
                                        Property
Kundan Cars Pvt Ltd                     Proposed LT Bk     CRISIL BB      23      Reaffirmed
                                        Loan Fac
Laxcon Steels Ltd                       CC                 CRISIL BBB     1200    Reaffirmed
Laxcon Steels Ltd                       LT Loan            CRISIL BBB     148.5   Reaffirmed
Laxcon Steels Ltd                       Proposed LT Bk     CRISIL BBB     1.5     Reaffirmed
                                        Loan Fac
M.S Menthol Pvt Ltd                     Foreign Bill       CRISIL B       30      Reaffirmed
                                        Discounting
M.S Menthol Pvt Ltd                     Proposed CC Limit  CRISIL B       40      Reaffirmed
MPIL Steel Structures Ltd               CC                 CRISIL BBB-    110     Reaffirmed
MPIL Steel Structures Ltd               Channel Financing  CRISIL BBB-    80      Reaffirmed
MPIL Steel Structures Ltd               Corporate Loan     CRISIL BBB-    45      Reaffirmed
MPIL Steel Structures Ltd               Standby Line of    CRISIL BBB-    20      Reaffirmed
                                        Credit
NRI Educational Society - Guntur        Secured Overdraft  CRISIL B+      165     Reaffirmed
                                        Fac
Pearl Infotech                          CC                 CRISIL B       30      Assigned
PK Thungan Builders Pvt Ltd             CC                 CRISIL B+      200     Reaffirmed
Pooja Sponge Pvt Ltd                    CC                 CRISIL D       90      Reaffirmed
Pooja Sponge Pvt Ltd                    LOC                CRISIL D       40      Reaffirmed
Pooja Sponge Pvt Ltd                    TL                 CRISIL D       70      Reaffirmed
Prestigious Scors Pvt Ltd               Secured Overdraft  CRISIL BB      25      Reaffirmed
                                        Fac
Rachna Plasticizers                     CC                 CRISIL BBB     100     Reaffirmed
Rachna Plasticizers                     Proposed LT Bk     CRISIL BBB     1.1     Reaffirmed
                                        Loan Fac
Rama Exports                            Bill Discounting   CRISIL BB-     180     Reaffirmed
Rani International                      Bill Discounting   CRISIL BB-     115     Reaffirmed
S. S. Engineers                         CC                 CRISIL BBB-    50      Assigned
Sadha Exports                           CC                 CRISIL B+      50      Reaffirmed
Sahney Commutators Pvt Ltd              CC                 CRISIL BBB     110     Reaffirmed
Sahney Commutators Pvt Ltd              Proposed LT Bk     CRISIL BBB     46      Reaffirmed
                                        Loan Fac
Sancheti Cotex                          CC                 CRISIL B       60      Reaffirmed
Sancheti Cotex                          Proposed LT Bk     CRISIL B       32.5    Reaffirmed
                                        Loan Fac
Sancheti Cotex                          TL                 CRISIL B       7.5     Reaffirmed
Satya Surya Aluminium Industries Ltd    CC                 CRISIL B-      255     Upgraded from
                                                                                  CRISIL D
Shanti Structure Pvt Ltd                CC                 CRISIL BB      80      Reaffirmed
Shanti Structure Pvt Ltd                Proposed LT Bk     CRISIL BB      5       Reaffirmed
                                        Loan Fac
Sheetal Agrofood Park Pvt Ltd           Proposed LT Bk     CRISIL B-      40      Assigned
                                        Loan Fac
Sheetal Agrofood Park Pvt Ltd           TL                 CRISIL B-      50      Assigned
SR Construction And Developers          Proposed LT Bk     CRISIL B+      50      Assigned
                                        Loan Fac
SR Construction And Developers          LT Loan            CRISIL B+      25      Assigned
SR Construction And Developers          Overdraft          CRISIL B+      25      Assigned
SRM Transports India Pvt Ltd            Overdraft          CRISIL BB      30      Reaffirmed
SRM Transports India Pvt Ltd            TL                 CRISIL BB      225     Reaffirmed
Suresh Productions Pvt Ltd              Overdraft          CRISIL BBB-    420     Reaffirmed
Suresh Productions Pvt Ltd              Proposed LT Bk     CRISIL BBB-    5       Reaffirmed
                                        Loan Fac
Swastik Cotex                           CC                 CRISIL B+      100     Reaffirmed
Tega Industries (Sez) Ltd               CC*                CRISIL BBB+    500     Reaffirmed
* Interchangeable with non-fund-based bank facilities
Tega Industries (Sez) Ltd               LT Loan            CRISIL BBB+    330     Reaffirmed
Tega Industries Ltd                     CC^                CRISIL BBB+    1020    Reaffirmed
^ Fully interchangeable with Export Packing Credit, Packing Credit in Foreign Currency, Post
Shipment in Foreign Currency, Working Capital Demand Loan & Bill Discounting, Letter of credit,
Bank guarantee, and Buyer's credit.
Titan Co. Ltd                           Proposed CC Limit* CRISIL AA+     9000    Reaffirmed
*One way interchangeability to Import letter of credit, foreign letters of credit and Standby
letters of credit to the extent of sanctioned limit.
Universal Cartons Solutions Pvt Ltd     CC                 CRISIL BBB     250     Reaffirmed
Vastu Housing Finance Corporation Ltd   CC                 CRISIL BBB+    40      Reaffirmed
Vastu Housing Finance Corporation Ltd   LT Bk Fac          CRISIL BBB+    620     Reaffirmed
Vastu Housing Finance Corporation Ltd   Proposed LT Bk     CRISIL BBB+    1340    Reaffirmed
                                        Loan Fac
--------------------------------------------------------------------------------------------
$: 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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