January 28, 2015 / 7:33 AM / in 3 years

CRISIL ratings for Indian debt instruments-Jan 28

Jan 28 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 27, 2015.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A E Infra Projects Pvt Ltd            Letter Of Guarantee CRISIL A4+    35      Reaffirmed
A S P Pvt Ltd                         BG                 CRISIL A4      40      Reaffirmed
A S P Pvt Ltd                         LOC                CRISIL A4      35      Reaffirmed
Abaj Foods Pvt Ltd                    BG                 CRISIL A4      14      Assigned
AIA Engineering Ltd                   LOC & BG^          CRISIL A1+     500     Reaffirmed
^Bank Guarantee is a sub-limit (of Rs.200 Million) of the total limit
Ascent e-Digit Solutions Pvt Ltd      LOC                CRISIL A4+     5       Assigned
Ascent e-Digit Solutions Pvt Ltd      BG                 CRISIL A4+     20      Assigned
Best Value Chem Pvt Ltd               BG                 CRISIL A4+     1       -
Best Value Chem Pvt Ltd               Foreign Exchange   CRISIL A4+     7.5     -
                                      Forward
Best Value Chem Pvt Ltd               Packing Credit     CRISIL A4+     64      -
BMW Ventures Ltd                      BG                 CRISIL A3      10      Reaffirmed
Christ Nishotech Water Systems Pvt Ltd BG                CRISIL A4+     50      Reaffirmed
Cybercity Builders and Developers Pvt BG                 CRISIL A4+     18      Reaffirmed
Ltd
Dunar Foods Ltd                       Bill Discounting   CRISIL D       50      Downgraded
                                                                                from CRISIL A4
Dunar Foods Ltd                       Packing Credit     CRISIL D       230     Downgraded
                                                                                from CRISIL A4
Extal International Exports Pvt Ltd   Foreign Bill       CRISIL A4      110*    Suspended
                                      Discounting
* Includes sub-limit of Rs.9.00 Cr for Packing Credit
Extal International Exports Pvt Ltd   Proposed Packing   CRISIL A4      50      Suspended
                                      Credit
Ghai Constructions                    BG                 CRISIL A4      40      Suspended
Gilpin Tours and Travel Management    Overdraft Fac      CRISIL A4+     30      Assigned
India Pvt Ltd
Global Steel Company                  BG                 CRISIL A4      10      Assigned
Global Steel Company                  LOC                CRISIL A4      20      Assigned
Golchha Enterprises Pvt Ltd           BG                 CRISIL A4      25      Reaffirmed
Golchha Enterprises Pvt Ltd           Foreign LOC        CRISIL A4      90      Reaffirmed
Gujarat Flotex Pvt Ltd                LOC                CRISIL A4+     20      Reaffirmed
Kailas Ceramics Pvt Ltd               LOC                CRISIL A4      50      Reaffirmed
Kailas Ceramics Pvt Ltd               Proposed LOC       CRISIL A4      30      Reaffirmed
Lancer Laser Tech Ltd                 LOC & BG           CRISIL A4      10      Reaffirmed
Mirza International Ltd               BG                 CRISIL A1      5       Reaffirmed
Mirza International Ltd               Bill Discounting   CRISIL A1      1600    Reaffirmed
Mirza International Ltd               LOC                CRISIL A1      120     Reaffirmed
Mirza International Ltd               Packing Credit     CRISIL A1      1000    Reaffirmed
ML Agro Products Ltd                  Foreign Bill       CRISIL A2+     100     Upgraded from
                                      Discounting                               CRISIL A2
ML Agro Products Ltd                  Letter Of Guarantee CRISIL A2+    4       Upgraded from
                                                                                CRISIL A2
ML Agro Products Ltd                  LOC                CRISIL A2+     2       Upgraded from
                                                                                CRISIL A2
ML Agro Products Ltd                  Packing Credit*    CRISIL A2+     160     Upgraded from
                                                                                CRISIL A2
*includes sublimit of Rs.50 million of PCFC
Nisan Exports                         Packing Credit     CRISIL A4+     388.3   -
Nisan Exports                         Proposed ST Bk     CRISIL A4+     26.5    -
                                      Loan Fac
P.T. Sreenivasan                      BG                 CRISIL A4      33      Assigned
Patel Ravji Mavji & Co - Keshod       Export Packing     CRISIL A4      50      Assigned
                                      Credit & Export
                                      Bills Negotiation/Foreign Bill discounting
Perlei Textiles Pvt Ltd               Foreign Bill       CRISIL A4+     55
                                      Discounting
Perlei Textiles Pvt Ltd               Packing Credit     CRISIL A4+     225
Polyspin Exports Ltd                  Buyer Credit Limit CRISIL A4+     107.2   Reaffirmed
Polyspin Exports Ltd                  Foreign Bill       CRISIL A4+     82      Reaffirmed
                                      Discounting
Polyspin Exports Ltd                  Inland/Import LOC  CRISIL A4+     8.5     Reaffirmed
Polyspin Exports Ltd                  Packing Credit     CRISIL A4+     62.5    Reaffirmed
Polyspin Exports Ltd                  ST Bk Fac          CRISIL A4+     55      Reaffirmed
Pulkit Metals Pvt Ltd                 LOC                CRISIL A4+     325     Reaffirmed
Pushpit Steels Pvt Ltd                LOC                CRISIL A4+     600     Reaffirmed
Raju Construction Co. and Shelters Pvt BG                CRISIL A4+     100     Reaffirmed
Ltd
Shalini Steels Pvt Ltd                Letter Of Guarantee CRISIL A4+    3       Reaffirmed
Shalini Steels Pvt Ltd                LOC                CRISIL A4+     25      Reaffirmed
Shree Avadhbihari Agro Product Pvt Ltd Proposed ST Bk    CRISIL A4      3       Assigned
                                      Loan Fac
Shree Avadhbihari Agro Product Pvt Ltd BG                CRISIL A4      1       Assigned
Skymax Ceramic                        BG                 CRISIL A4      12      Assigned
Sri Krishna Explosives and Accessories BG                CRISIL A4+     25      Reaffirmed
Co.
Sri Krishna Explosives and Accessories LOC               CRISIL A4+     25      Reaffirmed
Co.
Turtle Ltd                            LOC                CRISIL A4      30      Suspended
Turtle Ltd                            Standby LOC        CRISIL A4      40      Suspended
Udasee Stampings Pvt Ltd              Bill Discounting   CRISIL A4      20      Reaffirmed
Udasee Stampings Pvt Ltd              LOC                CRISIL A4      90      Upgraded from
                                                                                CRISIL D
Ultimate Fashion Maker Ltd            Bill               CRISIL A4      50      Reaffirmed
                                      Pur-Discounting Fac
Ultimate Fashion Maker Ltd            LOC & BG           CRISIL A4      30      Reaffirmed

Ultimate Fashion Maker Ltd            Overdraft Fac      CRISIL A4      5       Reaffirmed
Ultimate Fashion Maker Ltd            Packing Credit in  CRISIL A4      115     Reaffirmed
                                      Foreign Currency
Vashi Electricals Pvt Ltd             BG                 CRISIL A2      30      Reaffirmed
Vashi Electricals Pvt Ltd             LOC                CRISIL A2      20      Reaffirmed
Walzen Strips Pvt Ltd                 Bk Guarantee       CRISIL A4+     20      Assigned

MEDIUM TERM RATINGS:
-------------------
Cent Bank Home Finance Ltd            FD                 FA             -       Reaffirmed

LONG TERM RATINGS:
-------------------
A E Infra Projects Pvt Ltd            Overdraft Fac      CRISIL BB-     45.6    Reaffirmed
A E Infra Projects Pvt Ltd            Proposed LT Bk     CRISIL BB-     19.4    Reaffirmed
                                      Loan Fac
A S P Pvt Ltd                         CC                 CRISIL B+      115     Reaffirmed
A S P Pvt Ltd                         Proposed LT Bk     CRISIL B+      34.7    Reaffirmed
                                      Loan Fac
A S P Pvt Ltd                         TL                 CRISIL B+      15.3    Reaffirmed
Abaj Foods Pvt Ltd                    Cash TL            CRISIL B       82      Assigned
Abaj Foods Pvt Ltd                    CC                 CRISIL B       85      Assigned
AIA Engineering Ltd                   CC & WC demand     CRISIL AA+     1000    Reaffirmed
                                      loan*
*Interchangeable with usance bill discounting, export packing credit,
 foreign bills discounting, and letter of credit.
ASA Portfolio Pvt Ltd                 CC                 CRISIL B       50      Reaffirmed
Ascent e-Digit Solutions Pvt Ltd      Proposed LT Bk     CRISIL BB-     15      Assigned
                                      Loan Fac
Ascent e-Digit Solutions Pvt Ltd      CC                 CRISIL BB-     30      Assigned
Batukbhai Sons Jewellers              CC                 CRISIL BB      100     Reaffirmed
Best Value Chem Pvt Ltd               CC*                CRISIL BB+     152.5   -
*Includes sub-limit of Rs.10 Million of letter of credit
Best Value Chem Pvt Ltd               Rupee TL           CRISIL BB+     99.3    -
Best Value Chem Pvt Ltd               Proposed LT Bk     CRISIL BB+     0.7     -
                                      Loan Fac
BMW Ventures Ltd                      CC                 CRISIL BBB-    500     Reaffirmed
BMW Ventures Ltd                      Channel Financing  CRISIL BBB-    150     Reaffirmed
BMW Ventures Ltd                      Proposed LT Bk     CRISIL         40      Reaffirmed
                                      Loan Fac           BBB- 
Champion Group of Company             CC                 CRISIL B       70      Assigned
Champion Group of Company             WC Demand Loan     CRISIL B       30      Assigned
Christ Nishotech Water Systems Pvt Ltd Overdraft Fac     CRISIL BB      50      Reaffirmed
Cybercity Builders and Developers Pvt LT Loan            CRISIL BB      500     Reaffirmed
Ltd
Cybercity Builders and Developers Pvt Proposed LT Bk     CRISIL BB      381     Reaffirmed
Ltd                                   Loan Fac
Dada Motors Pvt Ltd                   CC                 CRISIL B       270     Downgraded
                                                                                from CRISIL B+
Dunar Foods Ltd                       CC                 CRISIL D       2155    Downgraded
                                                                                from CRISIL B-
Dunar Foods Ltd                       Export Packing     CRISIL D       2065    Downgraded
                                      Credit                                    from CRISIL B-
Dunar Foods Ltd                       Standby Line of    CRISIL D       200     Downgraded
                                      Credit                                    from CRISIL B-
Dunar Foods Ltd                       TL                 CRISIL D       364.5   Downgraded
                                                                                from CRISIL B-
Dunar Foods Ltd                       Warehouse Receipts CRISIL D       1000    Downgraded
                                                                                from CRISIL B-
Equitas Micro Finance Pvt Ltd         CC                 CRISIL A-      100     Reaffirmed
Equitas Micro Finance Pvt Ltd         LT Loan            CRISIL A-      1100    Reaffirmed
Equitas Micro Finance Pvt Ltd         Proposed LT Bk     CRISIL A-      1240    Reaffirmed
                                      Loan Fac
Equitas Micro Finance Pvt Ltd         TL                 CRISIL A-      20560   Reaffirmed
Ganpati Hightech Communication Pvt Ltd CC                CRISIL D       80      Suspended
Ganpati Hightech Communication Pvt Ltd LOC               CRISIL D       50      Suspended
Ghai Constructions                    CC                 CRISIL B+      10      Suspended
Ghai Constructions                    TL                 CRISIL B+      100     Suspended
Gilpin Tours and Travel Management    TL                 CRISIL BB      60      Assigned
India Pvt Ltd
Global Steel Company                  Overdraft Fac      CRISIL B-      100     Assigned
Global Steel Company                  LT Loan            CRISIL B-      30      Assigned
Golchha Enterprises Pvt Ltd           CC                 CRISIL B+      25      Upgraded from
                                                                                CRISIL B
Goodearth Minchem Pvt Ltd             CC                 CRISIL B+      50      Assigned
Goodearth Minchem Pvt Ltd             TL                 CRISIL B+      40      Assigned
Gujarat Flotex Pvt Ltd                CC                 CRISIL BB+     170     Reaffirmed
Gujarat Flotex Pvt Ltd                Proposed LT Bk     CRISIL BB+     27.5    Reaffirmed
                                      Loan Fac
Gujarat Flotex Pvt Ltd                Standby Line of    CRISIL BB+     17.5    Reaffirmed
                                      Credit
Gujarat Flotex Pvt Ltd                TL                 CRISIL BB+     175     Reaffirmed
Inline 4 Motors Pvt Ltd               Inventory Funding  CRISIL BB-     100     Reaffirmed
                                      Fac
Inline 4 Motors Pvt Ltd               Proposed Inventory CRISIL BB-     160     Reaffirmed
                                      Funding
Kailas Ceramics Pvt Ltd               CC                 CRISIL B       20      Reaffirmed
L&T Infra Debt Fund Ltd               Preference Share   CRISIL AAA     2500    Reaffirmed
                                      Issue
L&T Infra Debt Fund Ltd               NCD                CRISIL AAA     5000    Reaffirmed
L&T Infra Debt Fund Ltd               Corporate Credit   CRISIL AAA     -       Withdrawn
                                      Rating
Lancer Laser Tech Ltd                 Bill Discounting   CRISIL B-      3       Reaffirmed
Lancer Laser Tech Ltd                 CC                 CRISIL B-      50      Reaffirmed
Lancer Laser Tech Ltd                 TL                 CRISIL B-      55      Reaffirmed
Lancer Laser Tech Ltd                 Proposed LT Bk     CRISIL B-      33.9    Reaffirmed
                                      Loan Fac
M N Polytex Pvt Ltd                   CC                 CRISIL B       75      Reaffirmed
M/s R.K. Behuria                      CC                 CRISIL D       25      Downgraded
                                                                                from CRISIL B+
M/s R.K. Behuria                      Export Packing     CRISIL D       95      Downgraded
                                      Credit                                    from CRISIL B+
M/s. Shree Rameshwar Cotex Industries CC                 CRISIL B       40      Reaffirmed
M/s. Shree Rameshwar Cotex Industries Proposed CC Limit  CRISIL B       20      Reaffirmed
M/s. Shree Rameshwar Cotex Industries Proposed LT Bk     CRISIL B       0.5     Reaffirmed
                                      Loan Fac
M/s. Shree Rameshwar Cotex Industries TL                 CRISIL B       24.5    Reaffirmed
Mirza International Ltd               CC                 CRISIL A       350     Reaffirmed
Mirza International Ltd               TL                 CRISIL A       750     Reaffirmed
ML Agro Products Ltd                  CC                 CRISIL A-      40      Upgraded from
                                                                                CRISIL BBB+
ML Agro Products Ltd                  Proposed LT Bk     CRISIL A-      4.5     Upgraded from
                                      Loan Fac                                  CRISIL BBB+
ML Agro Products Ltd                  TL                 CRISIL A-      69.5    Upgraded from
                                                                                CRISIL BBB+
Nisan Exports                         Proposed LT Bk     CRISIL BB+     125     -
                                      Loan Fac
Nisan Exports                         TL                 CRISIL BB+     10.2    -
OPS Jewells Pvt Ltd                   CC                 CRISIL B+      150     Reaffirmed
P.T. Sreenivasan                      TL                 CRISIL B       3       Assigned
P.T. Sreenivasan                      Proposed LT Bk     CRISIL B       9       Assigned
                                      Loan Fac
P.T. Sreenivasan                      CC                 CRISIL B       25      Assigned
Patel Ravji Mavji & Co - Keshod       Proposed LT Bk     CRISIL B       30      Assigned
                                      Loan Fac
Patel Ravji Mavji & Co - Keshod       CC                 CRISIL B       10      Assigned
Polyspin Exports Ltd                  CC                 CRISIL BB-     63.5    Reaffirmed
Polyspin Exports Ltd                  TL                 CRISIL BB-     119.4   Reaffirmed
Pulkit Metals Pvt Ltd                 CC                 CRISIL BB      200     Downgraded
                                                                                from CRISIL
                                                                                BB+
Pushpit Steels Pvt Ltd                CC                 CRISIL BB      180     Downgraded
                                                                                from CRISIL
                                                                                BB+
Radha Madhav Developers               TL                 CRISIL B+      500     Assigned
Raju Construction Co. and Shelters Pvt CC                CRISIL BB-     80      Downgraded
Ltd                                                                             from CRISIL BB
Rattan Lal Jindal Educational Trust   rm Loan            CRISIL D       195     Assigned
Sabitri Industries Pvt Ltd            CC                 CRISIL B       285     Reaffirmed
Sabitri Industries Pvt Ltd            Proposed CC Limit  CRISIL B       80      Reaffirmed
Sabitri Industries Pvt Ltd            TL                 CRISIL B       345     Reaffirmed
Shalini Steels Pvt Ltd                CC                 CRISIL BB-     100     Reaffirmed
Shalini Steels Pvt Ltd                Proposed LT Bk     CRISIL BB-     34      Reaffirmed
                                      Loan Fac
Shalini Steels Pvt Ltd                TL                 CRISIL BB-     8       Reaffirmed
Shree Avadhbihari Agro Product Pvt Ltd Rupee TL          CRISIL B       65      Assigned
Shree Avadhbihari Agro Product Pvt Ltd CC                CRISIL B       30      Assigned
SHREE GOVARDHAN COTGIN Pvt Ltd        ash Credit         CRISIL B+      475     Reaffirmed
SHREE GOVARDHAN COTGIN Pvt Ltd        TL                 CRISIL B+      20      Reaffirmed
Shri Omtee Steel Pvt Ltd              CC                 CRISIL B       100     Reaffirmed
Shri Omtee Steel Pvt Ltd              TL                 CRISIL B       125     Reaffirmed
Skymax Ceramic                        TL                 CRISIL B+      29.8    Assigned
Skymax Ceramic                        Proposed LT Bk     CRISIL B+      33.2    Assigned
                                      Loan Fac
Skymax Ceramic                        CC                 CRISIL B+      25      Assigned
Sri Krishna Explosives and Accessories CC                CRISIL BB-     25      Reaffirmed
Co.
Sun Forge Pvt Ltd                     CC                 CRISIL BB+     70      Assigned
Transline Air Cargo Services Pvt.Ltd. Overdraft Fac*     CRISIL BBB+    140     Assigned
*includes sublimit of pre-shipment credit and post-shipment credit of Rs.100 million
Turtle Ltd                            CC                 CRISIL B+      400     Suspended
Turtle Ltd                            Proposed CC Limit  CRISIL B+      120     Suspended
Turtle Ltd                            Rupee TL           CRISIL B+      10      Suspended
Udasee Stampings Pvt Ltd              CC                 CRISIL B-      72.5    Reaffirmed
Udasee Stampings Pvt Ltd              Proposed LT Bk     CRISIL B-      20      Upgraded from
                                      Loan Fac                                  CRISIL D
Ultimate Fashion Maker Ltd            Proposed LT Bk     CRISIL B+      15      Reaffirmed
                                      Loan Fac
Vashi Electricals Pvt Ltd             CC                 CRISIL BBB+    250     Reaffirmed
Vashi Electricals Pvt Ltd             Channel Financing  CRISIL BBB+    261     Reaffirmed
Vashi Electricals Pvt Ltd             Proposed LT Bk     CRISIL BBB+    39      Reaffirmed
                                      Loan Fac
Walzen Strips Pvt Ltd                 CC                 CRISIL BB      170     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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