July 12, 2017 / 6:50 AM / a month ago

CRISIL ratings for Indian debt instruments-Jul 12

    Jul 12 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of July 11, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Avendus Finance Pvt Ltd                 ST NCD             CRISIL A1+     1000    Assigned
Bharat Gears Ltd                        LOC^               CRISIL A3      330     Reaffirmed
^ Interchangeable with bank guarantee up to Rs 4.0 crore
Bharat Gears Ltd                        LOC*#              CRISIL A3      170     Reaffirmed
*Interchangeable with export packing credit up to Rs 9.0 crore.
#Fully interchangeable with export packing credit.
De`S Technico Pvt Ltd                   ST Loan            CRISIL A4+     5       Assigned
De`S Technico Pvt Ltd                   LOC Bill           CRISIL A4+     50      Assigned
                                        Discounting
De`S Technico Pvt Ltd                   LOC                CRISIL A4+     30      Assigned
De`S Technico Pvt Ltd                   BG                 CRISIL A4+     50      Assigned
Dewan Housing Finance Corporation Ltd   ST Debt Programme  CRISIL A1+     100000  Reaffirmed
Dewan Housing Finance Corporation Ltd   ST Deposit         CRISIL A1+     10000   Reaffirmed
Euro India Fresh Foods Pvt Ltd          BG                 CRISIL A4      5       Upgraded from
                                                                                  CRISIL D
Febin Marine Foods                      Post Shipment      CRISIL A4+     85      Reaffirmed
                                        Credit
Gems Automobiles Pvt Ltd                Proposed BG        CRISIL A4+     4       Reaffirmed
Gems Automobiles Pvt Ltd                Proposed ST Bk     CRISIL A4+     21.7    Reaffirmed
                                        Loan Fac
iSat Network Engineers Pvt. Ltd.        BG                 CRISIL A4      45      Reaffirmed
K.F. Bioplants Pvt Ltd                  LOC & BG           CRISIL A3+     12.5    Upgraded from
                                                                                  CRISIL A3
K.R.R. Engineering Pvt Ltd              BG                 CRISIL A4+     49.6    Upgraded from
                                                                                  CRISIL A4
K.R.R. Engineering Pvt Ltd              LOC                CRISIL A4+     25      Upgraded from
                                                                                  CRISIL A4
Ketul Chem Pvt Ltd                      Foreign Exchange   CRISIL A3      10      Reaffirmed
                                        Forward
Ketul Chem Pvt Ltd                      LOC                CRISIL A3      860     Reaffirmed
LIC Housing Finance Ltd                 ST Bk Fac          CRISIL A1+     58250   Reaffirmed
Macedon Vinimay Pvt Ltd                 BG                 CRISIL A4+     30      Reaffirmed
Macedon Vinimay Pvt Ltd                 LOC                CRISIL A4+     30      Reaffirmed
Micro Labs Ltd                          Packing Credit     CRISIL A1+     2200    Reaffirmed
National Steel Suppliers                BG                 CRISIL A4      40      Reaffirmed
National Steel Suppliers                Overdraft          CRISIL A4      100     Reaffirmed
Nilons Enterprises Pvt Ltd              BG                 CRISIL A3      30      Upgraded from
                                                                                  CRISIL A4+
Nivedita Rice Mill                      BG                 CRISIL A4+     2.8     Reaffirmed
Polar Star                              Packing Credit in  CRISIL A4+     110     Reaffirmed
                                        Foreign Currency
R C Plasto Tanks and Pipes Pvt Ltd      LOC                CRISIL A3+     100     Reaffirmed
S. R. S. Meditech Ltd                   LOC & BG           CRISIL A4+     30      Reaffirmed
Seshaasai Business Forms Pvt Ltd        LOC & BG           CRISIL A2      210     Reaffirmed
Shilpa Stock Broker Pvt Ltd             BG                 CRISIL A4+     200     Reaffirmed
Shriram Capital Ltd                     ST Debt Programme  CRISIL A1+     2000    Reaffirmed
Shriram City Union Finance Ltd          ST Debt Programme  CRISIL A1+     5500    Reaffirmed
Shriram Transport Finance Co. Ltd       BG                 CRISIL A1+     15690   Reaffirmed
Shriram Transport Finance Co. Ltd       Proposed BG        CRISIL A1+     10000   Reaffirmed
Shriram Transport Finance Co. Ltd       ST Bk Fac          CRISIL A1+     11160   Reaffirmed
Simmonds Marshall Ltd                   Bill Discounting   CRISIL A2      27      Upgraded from
                                                                                  CRISIL A3+
Simmonds Marshall Ltd                   LOC                CRISIL A2      151.2   Upgraded from
                                                                                  CRISIL A3+
Sitaram Builders                        BG                 CRISIL A4+     80      Reaffirmed
Tube Investments of India Ltd           LOC**              CRISIL A1+     3000    Reaffirmed
**Interchangeable with bank guarantee
Volvo Financial Services (India) Pvt LtdCP Programme       CRISIL A1+     3000    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Shriram City Union Finance Ltd          FD Programme       FAA            -       Reaffirmed


LONG TERM RATINGS:
-------------------
Bharat Gears Ltd                        CC*                CRISIL BBB-    250     Reaffirmed
*Interchangeable with export packing credit up to Rs 9.0 crore
Bharat Gears Ltd                        CC                 CRISIL BBB-    100     Reaffirmed
Bharat Gears Ltd                        TL                 CRISIL BBB-    650     Reaffirmed
Bharat Gears Ltd                        WC TL              CRISIL BBB-    100     Reaffirmed
De`S Technico Pvt Ltd                   Proposed LT Bk     CRISIL BB-     25      Assigned
                                        Loan Fac
De`S Technico Pvt Ltd                   CC                 CRISIL BB-     20      Assigned
Euro India Fresh Foods Pvt Ltd          CC                 CRISIL B-      117.5   Upgraded from
                                                                                  CRISIL D
Euro India Fresh Foods Pvt Ltd          Proposed LT Bk     CRISIL B-      137.5   Upgraded from
                                        Loan Fac                                  CRISIL D
Euro India Fresh Foods Pvt Ltd          TL                 CRISIL B-      90      Upgraded from
                                                                                  CRISIL D
Febin Marine Foods                      LT Loan            CRISIL BB      15      Upgraded from
                                                                                  CRISIL BB-
Febin Marine Foods                      Packing Credit     CRISIL BB      80      Upgraded from
                                                                                  CRISIL BB-
Five-Star Business Finance Ltd          CC                 CRISIL BBB     75      Reaffirmed
Five-Star Business Finance Ltd          LT Bk Fac          CRISIL BBB     545     Reaffirmed
Five-Star Business Finance Ltd          Proposed CC Limit  CRISIL BBB     175     Reaffirmed
Five-Star Business Finance Ltd          Proposed LT Bk     CRISIL BBB     85      Reaffirmed
                                        Loan Fac
Five-Star Business Finance Ltd          CC                 Withdrawal     50      Reaffirmed
Gems Automobiles Pvt Ltd                CC                 CRISIL BB-     15      Reaffirmed
Gems Automobiles Pvt Ltd                Drop Line          CRISIL BB-     99.9    Reaffirmed
                                        Overdraft Fac
Gems Automobiles Pvt Ltd                Electronic Dealer  CRISIL BB-     45      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Gems Automobiles Pvt Ltd                TL                 CRISIL BB-     4.4     Reaffirmed
Govind Agro Foods                       CC                 CRISIL BB-     220     Upgraded from
                                                                                  CRISIL B+
Govind Agro Foods                       Warehouse Receipts CRISIL BB-     30      Upgraded from
                                                                                  CRISIL B+
iSat Network Engineers Pvt. Ltd.        CC                 CRISIL B+      30      Reaffirmed
K.B.A. Agrotech Pvt Ltd                 CC                 CRISIL B+      42.5    Reaffirmed
K.B.A. Agrotech Pvt Ltd                 Proposed LT Bk     CRISIL B+      2.5     Reaffirmed
                                        Loan Fac
K.B.A. Agrotech Pvt Ltd                 TL                 CRISIL B+      80      Reaffirmed
K.F. Bioplants Pvt Ltd                  CC                 CRISIL BBB     65      Upgraded from
                                                                                  CRISIL BBB-
K.F. Bioplants Pvt Ltd                  Proposed LT Bk     CRISIL BBB     17.5    Upgraded from
                                        Loan Fac                                  CRISIL BBB-
K.R.R. Engineering Pvt Ltd              CC                 CRISIL BB-     22.5    Upgraded from
                                                                                  CRISIL B+
K.R.R. Engineering Pvt Ltd              Export Packing     CRISIL BB-     30      Upgraded from
                                        Credit                                    CRISIL B+
Ketul Chem Pvt Ltd                      CC                 CRISIL BBB-    130     Reaffirmed
LIC Housing Finance Ltd                 LT Bk Fac          CRISIL AAA     217650  Reaffirmed
Macedon Vinimay Pvt Ltd                 CC                 CRISIL BB      90      Upgraded from
                                                                                  CRISIL BB-
Micro Labs Ltd                          CC*                CRISIL AA-     2100    Reaffirmed
*Fully interchangeable with packing credit
Mitcon Consultancy and Engineering      NCD                CRISIL BBB+    150     Assigned
Services Ltd
National Steel Suppliers                CC                 CRISIL B-      100     Reaffirmed
Natural Selections                      CC                 CRISIL BB-     40      Reaffirmed
Natural Selections                      TL                 CRISIL BB-     13.5    Reaffirmed
Nilons Enterprises Pvt Ltd              CC                 CRISIL BBB-    375     Upgraded from
                                                                                  CRISIL BB+
Nilons Enterprises Pvt Ltd              Corporate Loan     CRISIL BBB-    146.5   Upgraded from
                                                                                  CRISIL BB+
Nilons Enterprises Pvt Ltd              Proposed LT Bk     CRISIL BBB-    477.3   Upgraded from
                                        Loan Fac                                  CRISIL BB+
Nilons Enterprises Pvt Ltd              Standby Line of    CRISIL BBB-    28.5    Upgraded from
                                        Credit                                    CRISIL BB+
Nilons Enterprises Pvt Ltd              TL                 CRISIL BBB-    128.9   Upgraded from
                                                                                  CRISIL BB+
Nilons Enterprises Pvt Ltd              WC TL              CRISIL BBB-    18.8    Upgraded from
                                                                                  CRISIL BB+
Nilons Enterprises Pvt Ltd              CC*                CRISIL BBB-    45      Upgraded from
                                                                                  CRISIL BB+
*Working capital demand loan of Rs.2.5 crore is a sub-limit of Cash Credit
Nivedita Rice Mill                      CC                 CRISIL BB-     40      Reaffirmed
Nivedita Rice Mill                      Proposed CC Limit  CRISIL BB-     5       Reaffirmed
Nivedita Rice Mill                      Proposed LT Bk     CRISIL BB-     0.6     Reaffirmed
                                        Loan Fac
Nivedita Rice Mill                      TL                 CRISIL BB-     11.6    Reaffirmed
Patanjali Distributors Pvt Ltd          CC                 CRISIL B+      100     Assigned
Polar Star                              Post Shipment      CRISIL BB      170     Reaffirmed
                                        Credit
R C Plasto Tanks and Pipes Pvt Ltd      CC                 CRISIL BBB     120     Reaffirmed
R C Plasto Tanks and Pipes Pvt Ltd      LT Loan            CRISIL BBB     266.3   Reaffirmed
R C Plasto Tanks and Pipes Pvt Ltd      Proposed LT Bk     CRISIL BBB     43.7    Assigned
                                        Loan Fac
Rajaram and Brothers                    CC                 CRISIL B+      80      Downgraded
                                                                                  from CRISIL BB
Red Rose Textiles Industries Pvt Ltd    CC                 CRISIL B       92.5    Upgraded from
                                                                                  CRISIL B-
Red Rose Textiles Industries Pvt Ltd    Proposed LT Bk     CRISIL B       7.5     Upgraded from
                                        Loan Fac                                  CRISIL B-
S. R. S. Meditech Ltd                   CC                 CRISIL BB      80      Reaffirmed
S. R. S. Meditech Ltd                   Proposed LT Bk     CRISIL BB      23.2    Reaffirmed
                                        Loan Fac
S. R. S. Meditech Ltd                   TL                 CRISIL BB      72.5    Reaffirmed
Sanghavi Foods Pvt Ltd                  CC                 CRISIL BBB-    155     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Sanghavi Foods Pvt Ltd                  Proposed LT Bk     CRISIL BBB-    183.7   Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Sanghavi Foods Pvt Ltd                  TL                 CRISIL BBB-    11.3    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Seshaasai Business Forms Pvt Ltd        CC                 CRISIL BBB+    500     Reaffirmed
Seshaasai Business Forms Pvt Ltd        Proposed LT Bk     CRISIL BBB+    125     Reaffirmed
                                        Loan Fac
Seshaasai Business Forms Pvt Ltd        TL                 CRISIL BBB+    521.8   Assigned
Shah Packwell Industries                CC                 CRISIL D       100     Downgraded
                                                                                  from CRISIL B
Shah Packwell Industries                Proposed LT Bk     CRISIL D       25      Downgraded
                                        Loan Fac                                  from CRISIL B
Shilpa Stock Broker Pvt Ltd             Overdraft          CRISIL BB      200     Reaffirmed
Shilpa Stock Broker Pvt Ltd             Proposed LT Bk     CRISIL BB      10      Reaffirmed
                                        Loan Fac
Shriram Automall India Ltd              CC                 CRISIL AA+     500     Reaffirmed
Shriram Automall India Ltd              Proposed CC Limit  CRISIL AA+     2000    Reaffirmed
Shriram City Union Finance Ltd          NCD Issue          CRISIL AA-     4336    Reaffirmed
Shriram City Union Finance Ltd          NCD Issue          CRISIL AA-     3086    Reaffirmed
Shriram City Union Finance Ltd          NCD Issue          CRISIL AA-     200     Reaffirmed
Shriram City Union Finance Ltd          Subordinated Debt  CRISIL AA-     1000    Reaffirmed
                                        Issue
Shriram Transport Finance Co. Ltd       BG                 CRISIL AA+     3500    Reaffirmed
Shriram Transport Finance Co. Ltd       CC & WC demand loanCRISIL AA+     61900   Reaffirmed
Shriram Transport Finance Co. Ltd       LT Bk Fac@         CRISIL AA+     193680  Reaffirmed
@Long term bank facilities of Rs 1243 crore transferred from Shriram Equipment Finance Company
Limited to Shriram Transport Finance Company Limited upon amalgamation of the former with
latter.
Shriram Transport Finance Co. Ltd       Proposed LT Bk     CRISIL AA+     66500   Reaffirmed
                                        Loan Fac
Simmonds Marshall Ltd                   CC                 CRISIL BBB+    219     Upgraded from
                                                                                  CRISIL BBB
Simmonds Marshall Ltd                   Proposed LT Bk     CRISIL BBB+    57.5    Upgraded from
                                        Loan Fac                                  CRISIL BBB
Simmonds Marshall Ltd                   Rupee TL           CRISIL BBB+    69.3    Upgraded from
                                                                                  CRISIL BBB
Simmonds Marshall Ltd                   TL                 CRISIL BBB+    36      Upgraded from
                                                                                  CRISIL BBB
Sitaram Builders                        CC/ Overdraft Fac  CRISIL BB      150     Reaffirmed
Sitaram Builders                        TL                 CRISIL BB      22.5    Reaffirmed
Srijan Realty Pvt Ltd                   Loan Against       CRISIL BBB+    461.2   Reaffirmed
                                        Property
Srijan Realty Pvt Ltd                   Overdraft          CRISIL BBB+    176.3   Reaffirmed
Srijan Realty Pvt Ltd                   Proposed LT Bk     CRISIL BBB+    686     Reaffirmed
                                        Loan Fac
Srijan Realty Pvt Ltd                   TL                 CRISIL BBB+    176.5   Reaffirmed
SS Modern Rice Industry                 CC                 CRISIL BB-     100     Reaffirmed
Tube Investments of India Ltd           CC*                CRISIL AA      4000    Reaffirmed
*Interchangeable with short-term buyer's credit, packing credit, and working capital demand
loan  
Varsha Printing Inks Mfg. Co.           CC                 CRISIL BB-     80      Downgraded
                                                                                  from CRISIL BB
Varsha Printing Inks Mfg. Co.           Proposed LT Bk     CRISIL BB-     20      Downgraded
                                        Loan Fac                                  from CRISIL BB
Webfil Ltd                              CC                 CRISIL B-      136.8   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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