July 11, 2017 / 7:13 AM / 13 days ago

CRISIL ratings for Indian debt instruments-Jul 11

17 Min Read

    Jul 11 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of July 10, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Anika Apparels Pvt Ltd                  Export Packing     CRISIL A4      47.5    Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Arora Iron and Steel Rolling Mills Pvt  LOC                CRISIL A3      140     Upgraded from
Ltd                                                                               CRISIL A4+
Atlanta Electricals Pvt Ltd             BG                 CRISIL A3      500     Upgraded from
                                                                                  CRISIL A4+
Atlanta Electricals Pvt Ltd             LOC                CRISIL A3      250     Upgraded from
                                                                                  CRISIL A4+
Bemco Hydraulics Ltd                    BG                 CRISIL A4      105     Reaffirmed
Bemco Hydraulics Ltd                    LOC                CRISIL A4      40      Reaffirmed
Bhagwati Autocast Ltd                   LOC                CRISIL A3      15      Reaffirmed
Coal India Ltd                          Foreign Exchange   CRISIL A1+     100     Reaffirmed
                                        Forward
Coal India Ltd                          LOC & BG^          CRISIL A1+     22900   Reaffirmed
^Out of this Rs.1990 Crore is outside consortium non-fund based limits
Damara Gold Pvt Ltd                     BG                 CRISIL A3+     450     Reaffirmed
Damara Gold Pvt Ltd                     Proposed BG        CRISIL A3+     181     Reaffirmed
Filtra Catalysts and Chemicals Ltd      LOC & BG           CRISIL A2+     65      $
Groz Engineering Tools Pvt Ltd          BG                 CRISIL A1+     30      Reaffirmed
Groz Engineering Tools Pvt Ltd          Export Packing     CRISIL A1+     240     Reaffirmed
                                        Credit
Groz Engineering Tools Pvt Ltd          Foreign Bill       CRISIL A1+     20      Reaffirmed
                                        Discounting
Groz Engineering Tools Pvt Ltd          LOC                CRISIL A1+     60      Reaffirmed
Groz Engineering Tools Pvt Ltd          Packing Credit     CRISIL A1+     100     Reaffirmed
Gupta Transformer Products              BG                 CRISIL A4      150     Reaffirmed
Gupta Transformer Products              Bill Discounting   CRISIL A4      20      Reaffirmed
                                        under LOC
Jyoti Industries (Unit-II)              LOC                CRISIL A3      20      Upgraded from
                                                                                  CRISIL A4+
Laxmi Snacks Pvt Ltd                    BG                 CRISIL A2      30      Reaffirmed
Mahakali Foods Pvt Ltd                  LOC                CRISIL A3      17.5    Upgraded from
                                                                                  CRISIL A4+
Peacemoon Traders                       Packing Credit     CRISIL A4      150     Reaffirmed
Saam Textiles Pvt Ltd                   LOC                CRISIL A4+     20      Reaffirmed
Saam Textiles Pvt Ltd                   Packing Credit     CRISIL A4+     250     Reaffirmed
Saam Textiles Pvt Ltd                   Post Shipment      CRISIL A4+     683.3   Reaffirmed
                                        Credit
Savla Chemicals Ltd                     BG                 CRISIL A3+     4       Reaffirmed
Savla Chemicals Ltd                     LOC                CRISIL A3+     170     Reaffirmed
Sri Bapuji Constructions Pvt Ltd        BG                 CRISIL A3      285     Reaffirmed
Tatva Chintan Pharma Chem Pvt Ltd       BG                 CRISIL A3+     10      Upgraded from
                                                                                  CRISIL A3
Tatva Chintan Pharma Chem Pvt Ltd       Foreign Exchange   CRISIL A3+     12      Upgraded from
                                        Forward                                   CRISIL A3
Tatva Chintan Pharma Chem Pvt Ltd       LOC                CRISIL A3+     45      Upgraded from
                                                                                  CRISIL A3
V R Constructions - Nellore             BG                 CRISIL A4      100     Assigned
Valia Impex LLP                         BG                 CRISIL A4      100     Reaffirmed
Valia Impex LLP                         Bill Discounting   CRISIL A4      187.5   Reaffirmed

LONG TERM RATINGS:
-------------------
Akshar Enterprises - Nashik             Proposed CC Limit  CRISIL BB-     80      Assigned
Anika Apparels Pvt Ltd                  CC                 CRISIL B+      12.5    Reaffirmed
Anika Apparels Pvt Ltd                  LT Loan            CRISIL B+      7.7     Reaffirmed
Anika Apparels Pvt Ltd                  Proposed LT Bk     CRISIL B+      12.3    Reaffirmed
                                        Loan Fac
Arora Iron and Steel Rolling Mills Pvt  CC                 CRISIL BBB-    640     Upgraded from
Ltd                                                                               CRISIL BB+
Arora Iron and Steel Rolling Mills Pvt  TL                 CRISIL BBB-    700     Upgraded from
Ltd                                                                               CRISIL BB+
Assam Bengal Navigation Company Pvt Ltd Proposed LT Bk     CRISIL BB      12      Reaffirmed
                                        Loan Fac
Assam Bengal Navigation Company Pvt Ltd TL                 CRISIL BB      101     Assigned
Atlanta Electricals Pvt Ltd             CC                 CRISIL BBB-    450     Upgraded from
                                                                                  CRISIL BB+
Atlanta Electricals Pvt Ltd             Proposed LT Bk     CRISIL BBB-    2.7     Upgraded from
                                        Loan Fac                                  CRISIL BB+
Atlanta Electricals Pvt Ltd             TL                 CRISIL BBB-    97.3    Upgraded from
                                                                                  CRISIL BB+
Backbone MNMP Highway Pvt Ltd           TL                 CRISIL BBB     800.6   Reaffirmed
Bemco Hydraulics Ltd                    CC                 CRISIL B       100     Upgraded from
                                                                                  CRISIL B-
Bemco Hydraulics Ltd                    Proposed LT Bk     CRISIL B       85      Upgraded from
                                        Loan Fac                                  CRISIL B-
Bemco Hydraulics Ltd                    TL                 CRISIL B       20      Upgraded from
                                                                                  CRISIL B-
Bhagwati Autocast Ltd                   Proposed LT Bk     -              26.8    Withdrawal
                                        Loan Fac
Bhagwati Autocast Ltd                   CC                 CRISIL BBB-    60      Reaffirmed
Bhagwati Autocast Ltd                   TL                 CRISIL BBB-    13.2    Reaffirmed
Coal India Ltd                          CC & WC demand loanCRISIL AAA     2500    Reaffirmed
Damara Gold Pvt Ltd                     Proposed LT Bk     CRISIL BBB     122     Reaffirmed
                                        Loan Fac
Damara Gold Pvt Ltd                     Rupee TL           CRISIL BBB     108     Reaffirmed

Diveel Cotton Industries                CC                 CRISIL BB-     50      Upgraded from
                                                                                  CRISIL B+
Diveel Cotton Industries                LT Loan            CRISIL BB-     27.5    Upgraded from
                                                                                  CRISIL B+
Filtra Catalysts and Chemicals Ltd      CC*                CRISIL A-      110     $
*Interchangeable with working capital demand loan, pre-shipment and post shipment credit of Rs
8.5 crore.. Also, interchangeable with buyer's credit of Rs 5.5
Filtra Catalysts and Chemicals Ltd      Foreign Currency TLCRISIL A-      33.1    $
Filtra Catalysts and Chemicals Ltd      Proposed LT Bk     CRISIL A-      18.3    $
                                        Loan Fac
Filtra Catalysts and Chemicals Ltd      TL                 CRISIL A-      4       $
Filtra Catalysts and Chemicals Ltd      WC TL              CRISIL A-      50      $
Groz Engineering Tools Pvt Ltd          Proposed LT Bk     CRISIL A+      50      Reaffirmed
                                        Loan Fac
Gupta Transformer Products              CC                 CRISIL B       60      Downgraded
                                                                                  from CRISIL B+
Innova Fabtex Pvt Ltd                   TL                 CRISIL BB-     22      Assigned
Innova Fabtex Pvt Ltd                   CC                 CRISIL BB-     9       Assigned
Innova Fabtex Pvt Ltd                   Proposed LT Bk     CRISIL BB-     69      Assigned
                                        Loan Fac
Jyoti Industries (Unit-II)              CC                 CRISIL BBB-    115     Upgraded from
                                                                                  CRISIL BB+
Jyoti Industries (Unit-II)              Proposed LT Bk     CRISIL BBB-    50      Upgraded from
                                        Loan Fac                                  CRISIL BB+
Jyoti Industries (Unit-II)              Proposed WC Fac    CRISIL BBB-    55      Upgraded from
                                                                                  CRISIL BB+
Laxmi Snacks Pvt Ltd                    CC                 CRISIL BBB+    100     Reaffirmed
Laxmi Snacks Pvt Ltd                    Proposed LT Bk     CRISIL BBB+    13      Reaffirmed
                                        Loan Fac
Laxmi Snacks Pvt Ltd                    Rupee TL           CRISIL BBB+    250     Reaffirmed
Laxmi Snacks Pvt Ltd                    TL                 CRISIL BBB+    327     Reaffirmed
Mahakali Foods Pvt Ltd                  CC                 CRISIL BBB-    287.5   Upgraded from
                                                                                  CRISIL BB+
Mahakali Foods Pvt Ltd                  Credit Limit Under CRISIL BBB-    30      Upgraded from
                                        Gold Card                                 CRISIL BB+
Mahakali Foods Pvt Ltd                  TL                 CRISIL BBB-    72.2    Upgraded from
                                                                                  CRISIL BB+
Mehk Chemicals Pvt Ltd                  CC                 CRISIL BB-     55      Reaffirmed
Mehk Chemicals Pvt Ltd                  Foreign Currency TLCRISIL BB-     19      Reaffirmed
Mehk Chemicals Pvt Ltd                  TL                 CRISIL BB-     70      Reaffirmed
Power Finance Corporation Ltd           CC*                CRISIL AAA     100000  Reaffirmed
*Limit for working capital'working capital demand loan/overdraft facility/cash credit/line of
credit/bank guarantee. Limit includes long-term and short-term facilities. Total working capital
borrowing not to exceed board-approved limit of Rs 10,000 crore.
Power Finance Corporation Ltd           TL                 CRISIL AAA     110000  Reaffirmed
Ritechoice Foundations and Engineering  LT Loan            CRISIL BB      70      Assigned
Pvt Ltd
Ritechoice Foundations and Engineering  Proposed LT Bk     CRISIL BB      80      Assigned
Pvt Ltd                                 Loan Fac
S. K. Textiles                          TL                 CRISIL BB-     35      Assigned
S. K. Textiles                          CC                 CRISIL BB-     30      Assigned
S. K. Textiles                          Proposed LT Bk     CRISIL BB-     5       Assigned
                                        Loan Fac
Saam Textiles Pvt Ltd                   TL                 CRISIL BB+     46.7    Reaffirmed
Savla Chemicals Ltd                     CC                 CRISIL BBB     95      Reaffirmed
Savla Chemicals Ltd                     Proposed LT Bk     CRISIL BBB     30      Reaffirmed
                                        Loan Fac
Sri Bapuji Constructions Pvt Ltd        CC                 CRISIL BBB-    253.5   Reaffirmed
Sri Bapuji Constructions Pvt Ltd        TL                 CRISIL BBB-    11.5    Reaffirmed
Superon Schweisstechnik India Ltd       CC                 CRISIL BBB     150     Reaffirmed
Superon Schweisstechnik India Ltd       Cash TL            CRISIL BBB     200     Reaffirmed
Superon Schweisstechnik India Ltd       Proposed LT Bk     CRISIL BBB     250     Reaffirmed
                                        Loan Fac
Superon Schweisstechnik India Ltd       WC Fac             CRISIL BBB     400     Assigned
Supreme Manor Wada Bhiwandi             TL                 CRISIL D       3770    Reaffirmed
Infrastructure Pvt Ltd
Tatva Chintan Pharma Chem Pvt Ltd       CC                 CRISIL BBB     150     Upgraded from
                                                                                  CRISIL BBB-
Tatva Chintan Pharma Chem Pvt Ltd       TL                 CRISIL BBB     166.3   Upgraded from
                                                                                  CRISIL BBB-
Unify Texturisers Pvt Ltd               CC                 CRISIL BB+     100     Assigned
V R Constructions - Nellore             Proposed LT Bk     CRISIL B+      2.5     Assigned
                                        Loan Fac
V R Constructions - Nellore             CC                 CRISIL B+      47.5    Assigned
Valia Impex LLP                         Channel Financing  -              190     Withdrawal
Valia Impex LLP                         Bill Discounting   CRISIL B+      250     Reaffirmed
Valia Impex LLP                         Overdraft          CRISIL B+      10      Reaffirmed
Valia Impex LLP                         Proposed LT Bk     CRISIL B+      54      Reaffirmed
                                        Loan Fac
Valia Impex LLP                         TL                 CRISIL B+      66      Reaffirmed
YP Foods Pvt Ltd                        CC                 CRISIL B       15      Reaffirmed
YP Foods Pvt Ltd                        TL                 CRISIL B       90      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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