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CRISIL ratings for Indian debt instruments-Jul 13
July 13, 2017 / 4:47 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Jul 13

    Jul 13 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of July 12, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ashwin Diamonds                         Packing Credit     CRISIL A4+     180     Reaffirmed
Ashwin Diamonds                         Post Shipment      CRISIL A4+     320     Reaffirmed
                                        Credit
Capital Electech Pvt Ltd                BG*                CRISIL A4+     550     Reaffirmed
* One way interchangeability with cash credit to the extent of Rs.1 crore
Diamines and Chemicals Ltd              BG                 CRISIL A4+     4.5     Reaffirmed
Diamines and Chemicals Ltd              LOC                CRISIL A4+     40      Reaffirmed
Huhtamaki PPL Ltd                       LOC & BG           CRISIL A1+     1099    Reaffirmed
Huhtamaki PPL Ltd                       ST Debt (Including CRISIL A1+     220     Reaffirmed
                                        CP)
JK Paper Ltd                            Proposed WC Fac    CRISIL A1      50      Reaffirmed
JK Paper Ltd                            WC Fac             CRISIL A1      6150    Reaffirmed
JK Paper Ltd                            CP                 CRISIL A1      500     Reaffirmed
Orient Craft Ltd                        Non-FBL            CRISIL A3+     1750    Reaffirmed
Pasupati Acrylon Ltd                    BG                 CRISIL A3+     49.6    Upgraded from
                                                                                  CRISIL A3
Pasupati Acrylon Ltd                    LOC                CRISIL A3+     1500.9  Upgraded from
                                                                                  CRISIL A3
PNB Housing Finance Ltd                  CP Programme      CRISIL A1+     10000   Reaffirmed
Riviera Home Furnishings Pvt Ltd        BG                 CRISIL A2+     5.6     Reaffirmed
Riviera Home Furnishings Pvt Ltd        LOC                CRISIL A2+     12.5    Reaffirmed
Shashadhar Cold Storage Pvt Ltd         BG                 CRISIL A4      1.5     Reaffirmed
Techno Electric and Engg Co Ltd         Non-FBL            CRISIL A1+     5000    Reaffirmed
Techno Electric and Engg Co Ltd         CP Programme       CRISIL A1+     500     Reaffirmed
TVS Srichakra Ltd                       Export Packing     CRISIL A1+     700     Reaffirmed
                                        Credit#
# includes sub-limit of foreign bill discounting to the tune of Rs 50 crore
TVS Srichakra Ltd                       LOC@               CRISIL A1+     1050    Reaffirmed
@includes sub-limit of bank guarantee to the tune of Rs 5.0 crore; includes sub-limit of Letter
of credit (capex) to the tune of Rs 47.7 crore
TVS Srichakra Ltd                       Loan Equivalent    CRISIL A1+     90      Reaffirmed
                                        Risk Limits
TVS Srichakra Ltd                       Vendor Financing   CRISIL A1+     1500    Reaffirmed
TVS Srichakra Ltd                       CP Programme       CRISIL A1+     2000    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
PNB Housing Finance Ltd                 FD Programme       FAAA           85000   Reaffirmed
LONG TERM RATINGS:
-------------------
Berger Becker Coatings Pvt Ltd          Fund & NFBL        CRISIL BBB+    800     Reaffirmed
Berger Becker Coatings Pvt Ltd          Proposed LT Bk     CRISIL BBB+    200     Reaffirmed
                                        Loan Fac
Capital Electech Pvt Ltd                CC                 CRISIL BB      10      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Capital Electech Pvt Ltd                Proposed BG        CRISIL BB      90      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Diamines and Chemicals Ltd              CC                 CRISIL BB+     110     Upgraded from
                                                                                  CRISIL BB-
Diamines and Chemicals Ltd              Corporate Loan     CRISIL BB+     67.8    Upgraded from
                                                                                  CRISIL BB-
Diamines and Chemicals Ltd              Proposed LT Bk     CRISIL BB+     216     Upgraded from
                                        Loan Fac                                  CRISIL BB-
Diamines and Chemicals Ltd              TL                 CRISIL BB+     5.2     Upgraded from
                                                                                  CRISIL BB-
Hotel Rathi Residency                   TL                 CRISIL D       60      Assigned
Huhtamaki PPL Ltd                       CC & WC demand     CRISIL AA-     452.5   Reaffirmed
                                        loan*
*Fully interchangeable with non-fund based limits    
Huhtamaki PPL Ltd                       Proposed LT Bk     CRISIL AA-     3.5     Reaffirmed
                                        Loan Fac
Huhtamaki PPL Ltd                       TL                 CRISIL AA-     195     Reaffirmed
JK Paper Ltd                            Rupee TL           CRISIL A       11255.2 Reaffirmed
JK Paper Ltd                            TL*                CRISIL A       64.8    Reaffirmed
*Original Sanction Equivalent to USD 5 million (around Rs.21.69 CR.)
JK Paper Ltd                            NCD                CRISIL A       2850    Assigned
JK Paper Ltd                            NCD                CRISIL A       500     Reaffirmed
Muthoot Microfin Ltd                    Proposed LT Bk     CRISIL A-      157.2   Reaffirmed
                                        Loan Fac
Muthoot Microfin Ltd                    TL                 CRISIL A-      4342.8  Reaffirmed
Muthoot Microfin Ltd                    NCD                CRISIL A-      400     -
Muthoot Microfin Ltd                    NCD                CRISIL A-      650     -
Muthoot Microfin Ltd                    NCD                CRISIL A-      700     -
Muthoot Microfin Ltd                    NCD                CRISIL A-      700     -
Olympia Tech Park (Chennai) Pvt Ltd     Drop Line          CRISIL BBB+    290     Reaffirmed
                                        Overdraft Fac
Olympia Tech Park (Chennai) Pvt Ltd     LT Loan            CRISIL BBB+    2210    Reaffirmed
Orient Craft Ltd                        CC*                CRISIL BBB     4498.9  Reaffirmed
*Interchangeable with export packing credit, packing credit in foreign currency, foreign
documentary bills for purchase, foreign bill negotiation, and foreign bill purchase
Orient Craft Ltd                        Rupee TL           CRISIL BBB     4251.1  Reaffirmed
Pasupati Acrylon Ltd                    CC                 CRISIL BBB     106.2   Upgraded from
                                                                                  CRISIL BBB-
Pasupati Acrylon Ltd                    Proposed LT Bk     CRISIL BBB     115.6   Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Pasupati Acrylon Ltd                    TL                 CRISIL BBB     134.1   Upgraded from
                                                                                  CRISIL BBB-
Pasupati Acrylon Ltd                    WC TL              CRISIL BBB     16.5    Upgraded from
                                                                                  CRISIL BBB-
PNB Housing Finance Ltd                 LT Loan            CRISIL AA+     29340   Reaffirmed
PNB Housing Finance Ltd                 Proposed LT Bk     CRISIL AA+     10660   Reaffirmed
                                        Loan Fac
PNB Housing Finance Ltd                 NCDs               CRISIL AA+     46000   Reaffirmed
PNB Housing Finance Ltd                 Lower Tier II BondsCRISIL AA+     5000    Reaffirmed
PNB Housing Finance Ltd                 Bonds              CRISIL AA+     11000   Reaffirmed
Rajesh Estates and Nirman Pvt Ltd       NCD                CRISIL BB-     2976    Reaffirmed
Riviera Home Furnishings Pvt Ltd        CC                 CRISIL A-      720     Reaffirmed
Riviera Home Furnishings Pvt Ltd        Fund & NFBL        CRISIL A-      541.9   Reaffirmed
Riviera Home Furnishings Pvt Ltd        Standby Line of    CRISIL A-      70      Reaffirmed
                                        Credit
Shashadhar Cold Storage Pvt Ltd         CC                 CRISIL B-      60.2    Reaffirmed
Shashadhar Cold Storage Pvt Ltd         Proposed LT Bk     CRISIL B-      5       Reaffirmed
                                        Loan Fac
Shashadhar Cold Storage Pvt Ltd         TL                 CRISIL B-      26.3    Reaffirmed
Shashadhar Cold Storage Pvt Ltd         WC Demand Loan     CRISIL B-      6       Reaffirmed
Techno Electric and Engg Co Ltd         FB Fac             CRISIL AA-     410     Reaffirmed
Techno Electric and Engg Co Ltd         FB Fac^            CRISIL AA-     300     Reaffirmed
^ includes sub-limit of Rs.30 crore for non-fund based limits
Techno Electric and Engg Co Ltd         FB Fac*            CRISIL AA-     900     Reaffirmed
* includes sub-limit of Rs.25 crore for non-fund based limits
Techno Electric and Engg Co Ltd         Non-FBL            CRISIL AA-     2600    Reaffirmed
Techno Electric and Engg Co Ltd         Non-FBL$           CRISIL AA-     1100    Reaffirmed
$ includes sub-limit of Rs.60 crore for fund-based facilities
Techno Electric and Engg Co Ltd         Non-FBL!           CRISIL AA-     1140    Reaffirmed
! Fully interchangeable with fund-based facilities
Techno Electric and Engg Co Ltd         Non-FBL#           CRISIL AA-     600     Reaffirmed
# includes sub-limit of Rs.30 crore for fund-based facilities
Techno Electric and Engg Co Ltd         Proposed LT Bk     CRISIL AA-     250     Assigned
                                        Loan Fac
Techno Electric and Engg Co Ltd         NCD                CRISIL AA-     300     Reaffirmed
TVS Srichakra Ltd                       CC*                CRISIL AA-     1000    Reaffirmed
* includes sub-limit of Inland bill discounting to the tune of Rs 100 crore 
TVS Srichakra Ltd                       LT Loan            CRISIL AA-     2740    Reaffirmed
TVS Srichakra Ltd                       Proposed LT Bk     CRISIL AA-     120     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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