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CRISIL ratings for Indian debt instruments-Sep 6
September 6, 2013 / 6:09 AM / 4 years ago

CRISIL ratings for Indian debt instruments-Sep 6

Sep 6 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of September 5, 2013.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aban Exim Pvt Ltd                     LOC                CRISIL A4+     80      Reaffirmed
Aban Exim Pvt Ltd                     Foreign Exchange   CRISIL A4+     2       Reaffirmed
                                      Forwards
Alfa Laval India Ltd                  BG                 CRISIL A1+     2695.5  Reaffirmed
Amsal Chem Pvt Ltd                    BG@                CRISIL A4+     5       Reaffirmed
@One way 100% interchangeable with Letter of Credit
Amsal Chem Pvt Ltd                    LOC                CRISIL A4+     50      Reaffirmed
B.L. Agro Oils Ltd                    BG                 CRISIL A4+     1.2     Suspended
Bhagabati Build & Constructions Pvt LtBG                 CRISIL A4      30      Reaffirmed
Jindal Soft Italia Seating Pvt Ltd    LOC & BG           CRISIL A4      10      Downgraded
                                                                                from CRISIL
                                                                                A4+
Metalkraft Forming Industries Pvt Ltd Proposed LOC       CRISIL A3      60      Reaffirmed
Omfurn India Pvt Ltd                  BG                 CRISIL A4+     25      Reaffirmed
Omkar Speciality Chemicals Ltd        LOC                CRISIL A2      600**   Reaffirmed
** Includes inland foreign guarantees (performance/ financial) of Rs.20.0 Million
Omkar Speciality Chemicals Ltd        Proposed ST Bk     CRISIL A2      100     Reaffirmed
                                      loan Fac
Shree Krishna Timber Co Pvt Ltd       LOC                CRISIL A3      360     Reaffirmed
Sudalagunta Sugars Ltd                LOC & BG           CRISIL A4      112.8   Reaffirmed
Trina Quebec Gears Ltd                Packing Credit     CRISIL A4+     15      Assigned
Trina Quebec Gears Ltd                Overdraft Fac      CRISIL A4+     7.5     Assigned
Trina Quebec Gears Ltd                BG                 CRISIL A4+     41.4    Assigned
Trina Quebec Gears Ltd                Foreign Usance     CRISIL A4+     10      Assigned
                                      Bills Purchase -
                                      Discounting
Vallabhji Malsi & Co.                 BG                 CRISIL A2+     210     Upgraded from
                                                                                CRISIL A2

LONG TERM RATINGS:
-------------------
Aban Exim Pvt Ltd                     CC                 CRISIL BB      70      Reaffirmed
Alfa Laval India Ltd                  CC*                CRISIL AA+     277.1   Reaffirmed
*Interchangeable with WCDL/Export Finance
Amit Motor-Cycles Pvt Ltd             CC                 CRISIL B+      40      Reaffirmed
Amit Motor-Cycles Pvt Ltd             Inventory Funding  CRISIL B+      50      Reaffirmed
                                      Fac
Amsal Chem Pvt Ltd                    CC*                CRISIL BB-     80      Reaffirmed
*Includes Rs.30.0 Million of sub limit of Export Packing Credit & Rs.27.5 Million of sub limit
of Bill Purchase
Amsal Chem Pvt Ltd                    Proposed LT Bk     CRISIL BB-     38      Reaffirmed
                                      Loan Fac
Amsal Chem Pvt Ltd                    Rupee TL           CRISIL BB-     15.9    Reaffirmed
Amsal Chem Pvt Ltd                    Standby Line of    CRISIL BB-     10      Reaffirmed
                                      Credit
B.L. Agro Oils Ltd                    CC                 CRISIL BB+     325     Suspended
B.L. Agro Oils Ltd                    TL                 CRISIL BB+     173.7   Suspended
Balaji Formalin Pvt Ltd               CC                 CRISIL BB+     27.5    Reaffirmed
Balaji Formalin Pvt Ltd               TL                 CRISIL BB+     40      Reaffirmed
Bhagabati Build & Constructions Pvt LtCC                 CRISIL B       55      Downgraded
                                                                                from CRISIL B+
ECL Finance Ltd                       LT Bk Fac          CRISIL AA-     5950    Reaffirmed
ECL Finance Ltd                       Overdraft Fac      CRISIL AA-     13950   Reaffirmed
ECL Finance Ltd                       WC Demand Loan     CRISIL AA-     1050    Reaffirmed
Equitas Micro Finance Pvt Ltd         CC                 CRISIL BBB+    100     Upgraded from
                                                                                CRISIL BBB
Equitas Micro Finance Pvt Ltd         LT Loan            CRISIL BBB+    2500    Upgraded from
                                                                                CRISIL BBB
Equitas Micro Finance Pvt Ltd         Proposed LT Bk     CRISIL BBB+    355     Upgraded from
                                      Loan Fac                                  CRISIL BBB
Equitas Micro Finance Pvt Ltd         TL                 CRISIL BBB+    11545   Upgraded from
                                                                                CRISIL BBB
Future Parking Pvt Ltd                Rupee TL*          CRISIL A-      210     Assigned
*sublimit of Rs.100 million of letter of credit
Future Parking Pvt Ltd                Overdraft Fac      CRISIL A-      10      Assigned
Ghosh Brothers Auto Sales Pvt Ltd     CC                 CRISIL D       45      Downgraded
                                                                                from CRISIL B
Ghosh Brothers Auto Sales Pvt Ltd     Proposed LT Bk     CRISIL D       40      Downgraded
                                      Loan Fac                                  from CRISIL B
Ghosh Brothers Automobiles (India) PvtCC                 CRISIL D       150     Downgraded
Ltd                                                                             from CRISIL B
Ghosh Brothers Automobiles (India) PvtInventory Funding  CRISIL D       25      Downgraded
Ltd                                   Fac                                       from CRISIL B
Ghosh Brothers Automobiles (India) PvtRupee TL           CRISIL D       50      Downgraded
Ltd                                                                             from CRISIL B
Ghosh Brothers Electronics Pvt Ltd    CC                 CRISIL D       550     Downgraded
                                                                                from CRISIL
                                                                                BB+
Ghosh Brothers Electronics Pvt Ltd    TL                 CRISIL D       35.2    Downgraded
                                                                                from CRISIL
                                                                                BB+
Ghosh Brothers Electronics Pvt Ltd    Proposed LT Bk     CRISIL D       4.3     Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                BB+
Ghosh Brothers Motors Pvt Ltd         CC                 CRISIL D       300     Downgraded
                                                                                from CRISIL
                                                                                A4+

Ghosh Brothers Motors Pvt Ltd         Rupee TL           CRISIL D       35      Downgraded
                                                                                from CRISIL
                                                                                A4+
Ghosh Brothers Motors Pvt Ltd         BG                 CRISIL D       15      Downgraded
                                                                                from CRISIL
                                                                                A4+
HVK International Pvt Ltd             Packing Credit     CRISIL BBB-    1058.5  Reaffirmed
HVK International Pvt Ltd             Post-Shipment      CRISIL BBB-    2262.5  Reaffirmed
                                      Credit
HVK International Pvt Ltd             Standby Line of    CRISIL BBB-    639     Reaffirmed
                                      Credit
Hyderabad Expressways Ltd             TL                 CRISIL B+      2900    Downgraded
                                                                                from CRISIL
                                                                                BB+
Jindal Soft Italia Seating Pvt Ltd    CC                 CRISIL B       65      Downgraded
                                                                                from CRISIL
                                                                                BB-
Jindal Soft Italia Seating Pvt Ltd    Corporate Loan     CRISIL B       20      Downgraded
                                                                                from CRISIL
                                                                                BB-
Jindal Soft Italia Seating Pvt Ltd    TL                 CRISIL B       54      Downgraded
                                                                                from CRISIL
                                                                                BB-
Jindal Soft Italia Seating Pvt Ltd    Proposed LT Bk     CRISIL B       36.3    Downgraded
                                      Loan Fac                                  from CRISIL
                                                                                BB-
Kandarp Construction (I) Pvt Ltd      CC                 CRISIL BB-     60      Assigned
Kandarp Construction (I) Pvt Ltd      TL                 CRISIL BB-     100     Assigned
Metalkraft Forming Industries Pvt Ltd CC                 CRISIL BBB-    90      Reaffirmed
New Phaltan Sugar Works Ltd           LT Loan            CRISIL D       190     Reaffirmed
New Phaltan Sugar Works Ltd           CC                 CRISIL D       90      Reaffirmed
New Phaltan Sugar Works Ltd           Proposed LT Bk     CRISIL D       30      Reaffirmed
                                      Loan Fac
Omfurn India Pvt Ltd                  CC                 CRISIL BB      20      Reaffirmed
Omfurn India Pvt Ltd                  Rupee TL           CRISIL BB      15      Reaffirmed
Omkar Speciality Chemicals Ltd        CC                 CRISIL BBB+    460*    Reaffirmed
* Includes sublimit of Rs.100.0 Million of packing credit/foreign bill discounting/bank
guarantee and Rs.250.0 Million of foreign currency loan [FCNR (B)]
Omkar Speciality Chemicals Ltd        CC                 CRISIL BBB+    150     Reaffirmed
Omkar Speciality Chemicals Ltd        External           CRISIL BBB+    630     Reaffirmed
                                      Commercial
                                      Borrowings
Omkar Speciality Chemicals Ltd        TL                 CRISIL BBB+    38.7    Reaffirmed
Omkar Speciality Chemicals Ltd        Proposed LT Bk     CRISIL BBB+    81.3    Reaffirmed
                                      Loan Fac
Pal Prateek Auto Sales Pvt Limted     CC                 CRISIL B-      10      Assigned
Pal Prateek Auto Sales Pvt Limted     Electronic Dealer  CRISIL B-      50      Assigned
                                      Financing
                                      Scheme(e-DFS)
Realliance Constructions              TL                 CRISIL D       120     Downgraded
                                                                                from CRISIL C
Shree Krishna Timber Co Pvt Ltd       CC                 CRISIL BBB-    100     Reaffirmed
Sudalagunta Sugars Ltd                CC                 CRISIL B-      569.8   Reaffirmed
Sudalagunta Sugars Ltd                LT Loan            CRISIL B-      36.5    Reaffirmed
Sudalagunta Sugars Ltd                Proposed LT Bk     CRISIL B-      268.5   Reaffirmed
                                      Loan Fac
Sudalagunta Sugars Ltd                WC Demand Loan     CRISIL B-      55.2    Reaffirmed
Trina Quebec Gears Ltd                TL                 CRISIL BB-     6       Assigned
Trina Quebec Gears Ltd                Proposed LT Bk     CRISIL BB-     60.1    Assigned
                                      Loan Fac
Vallabhji Malsi & Co.                 CC*                CRISIL A-      240     Upgraded from
                                                                                CRISIL BBB-
* Includes sub-limit of Rs.80.0 Million of Stand by Letter of Credit/Bank Guarantee
Vallabhji Malsi & Co.                 Packing Credit     CRISIL A-      350     Upgraded from
                                                                                CRISIL BBB-
--------------------------------------------------------------------------------------------
$: 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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