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CRISIL ratings for Indian debt instruments-Mar 20
March 20, 2012 / 6:02 AM / 6 years ago

CRISIL ratings for Indian debt instruments-Mar 20

Mar 20 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 19, 2012.	
	
	
COMPANY                       INSTRUMENT              RATING            AMOUNT   MOVEMENT	
                                                                        RS.MLN)	
------                        ----------              ------            ------   ---------	
SHORT TERM RATINGS:	
-------------------	
Akash Infra Projects Pvt Ltd  LOC                    CRISIL A3+              250  Reaffirmed	
Anjani Steels Ltd             BG                     CRISIL A3+              215  Reaffirmed	
Arkay Fabsteel Systems Pvt    BG                     CRISIL A4+               15  Assigned	
Ltd	
Bajaj Finance Ltd             ST Debt                CRISIL A1+             2000  Reaffirmed	
Charak Pharma Pvt Ltd         BG                     CRISIL A2+               10  Reaffirmed	
Corporated Shipyard Pvt Ltd   Standby Line of Credit CRISIL A4+               10  Downgraded 
                                                                                  from	
                                                                                  CRISIL A3	
Corporated Shipyard Pvt Ltd   BG                     CRISIL A4+              100  Downgraded
                                                                                  from	
                                                                                  CRISIL A3	
Corporated Shipyard Pvt Ltd   Line Of Credit         CRISIL A4+               20  Downgraded 
                                                                                  from	
                                                                                  CRISIL A3	
Delta Pre Engineered          LOC                    CRISIL A4                40  Assigned	
Buildings Pvt Ltd	
Delta Pre Engineered          BG                     CRISIL A4                40  Assigned	
Buildings Pvt Ltd	
Fine Facets'                  Packing Credit         CRISIL A4                30  Reaffirmed	
Fine Facets'                  Post- shipment Credit  CRISIL A4                50  Reaffirmed	
Fine Facets'                  Proposed ST Bk Loan    CRISIL A4                18  Reaffirmed	
                              Facility	
Hero Motocorp Ltd             CP Programme           CRISIL A1+              160  Reaffirmed	
Hero Motocorp Ltd             LOC Limit**            CRISIL A1+           3559.5  Assigned	
**Interchangeable with other non-fund-based facilities	
Hillwood Furniture Pvt Ltd    BG                     CRISIL A4+                5  Suspended	
Hillwood Furniture Pvt Ltd    LOC                    CRISIL A4+              100  Suspended	
Hillwood Furniture Pvt Ltd    Packing Credit         CRISIL A4+               10  Suspended	
Hillwood Imports & Exports    Bill                   CRISIL A4+              2.5  Suspended	
Pvt Ltd                       Purchase-Discounting	
                              Facility	
Hillwood Imports & Exports    LOC                    CRISIL A4+               90  Suspended	
Pvt Ltd	
Hillwood Imports & Exports    Line of Credit         CRISIL A4+                1  Suspended	
Pvt Ltd	
Inderdeep Construction        BG                     CRISIL A4+               30  Reaffirmed	
Company	
India Pune Processing Center  Buyer Credit Limit     CRISIL A1+             4640  Reaffirmed	
Pvt Ltd	
Innovassynth Technologies     BG                     CRISIL A4                15  Reaffirmed	
(I) Ltd	
Innovassynth Technologies     LOC                    CRISIL A4                75  Reaffirmed	
(I) Ltd	
Jadwet Trading Company        BG                     CRISIL A4                10  Assigned	
Kamal Cotspin Pvt Ltd         BG                     CRISIL A4                20  Reaffirmed	
Kamal Cotspin Pvt Ltd         LOC                    CRISIL A4              13.3  Reaffirmed	
Laxmi Industrial Corporation  Standby Line of Credit CRISIL A4                12  Assigned	
Laxmi Industrial Corporation  Packing Credit*        CRISIL A4                40  Assigned	
*Fully interchangeable with Packing Credit.	
Lumbini Constructions Ltd     BG                     CRISIL A4                 5  Suspended	
M. M. Ceramics And Ferro      LOC                    CRISIL A4+               80  Reaffirmed	
Alloys	
Meghmani Organics Ltd         LOC & BG@              CRISIL A1              1000  Reaffirmed	
@Full interchangeability between letter of credit and bank guarantee limits	
Meghmani Organics Ltd         Standby Non-FB Limit   CRISIL A1               250  Reaffirmed	
Noble Resources And Trading   LOC#                   CRISIL A1               600 @              	
India Pvt Ltd                                                                                   
  	
# Interchangeable with bills acceptances, pre-export advances, bank guarantee, 
and post import financing.	
Prabir Foodstuff Factory      Packing Credit***      CRISIL A4                80  Assigned	
*** Includes foreign bill purchase and foreign bill discount (pre and post shipment credit)	
R. C. Enterprise              Packing Credit         CRISIL A4                60  Assigned	
Ratusaria Steels Pvt Ltd      BG                     CRISIL A4+              0.5  Assigned	
S. Subramanyan Construction   BG                     CRISIL A4+              200  Assigned	
Co. Pvt Ltd	
Sachdev Food Products         BG                     CRISIL A4+               15  Reaffirmed	
Sango Auto Forge Pvt Ltd      LOC                    CRISIL A4                20  Upgraded from	
                                                                                  CRISIL D	
Shankar Rice Mill             LOC                    CRISIL A4               6.1  Assigned	
Shree Balaji Aromatics Pvt    Bill                   CRISIL A4              12.4  Reaffirmed	
Ltd                           Purchase-Discounting	
                              Facility	
	
MEDIUM TERM RATINGS:	
-------------------	
Hero Motocorp Ltd             Fixed Deposit          FAAA                      -  Reaffirmed	
                              Programme	
	
LONG TERM RATINGS:	
-------------------	
Akash Infra Projects Pvt Ltd  CC                     CRISIL BBB              120  Reaffirmed	
Akash Infra Projects Pvt Ltd  TL                     CRISIL BBB             17.3  Reaffirmed	
Ananya Hospital Pvt Ltd       CC                     CRISIL B                  5  Suspended	
Ananya Hospital Pvt Ltd       Long-TL                CRISIL B               96.3  Suspended	
ANC Enterprises               CC                     CRISIL B                 40  Upgraded 
                                                                                  from	
                                                                                  CRISIL D	
ANC Enterprises               Standby Line of Credit CRISIL B                  6  Upgraded 
                                                                                  from	
                                                                                  CRISIL D	
ANC Enterprises               TL                     CRISIL B               15.2  Upgraded
                                                                                  from	
                                                                                  CRISIL D	
Anjani Steels Ltd             CC                     CRISIL BBB              925  Reaffirmed	
Anjani Steels Ltd             TL                     CRISIL BBB             12.4  Reaffirmed	
Arkay Fabsteel Systems Pvt    TL                     CRISIL BB+               80  Assigned	
Ltd	
Arkay Fabsteel Systems Pvt    Proposed LT Bk Loan    CRISIL BB+              235  Assigned	
Ltd                           Facility	
Arkay Fabsteel Systems Pvt    CC                     CRISIL BB+               70  Assigned	
Ltd	
Assotech Milan Resorts Pvt.   TL                     CRISIL B+               520  Assigned	
Ltd.	
Bajaj Finance Ltd             NCDs                   CRISIL AA+            16500  Reaffirmed	
Bajaj Finance Ltd             NCD                    CRISIL AA+            17000  Assigned	
Bajaj Finance Ltd             Lower Tier II Bonds    CRISIL AA+             4000  Reaffirmed	
Bajaj Finance Ltd             Lower Tier II Bonds    CRISIL AA+             3000  Assigned	
Bajaj Finance Ltd             Fixed Deposits         FAAA                      -  Reaffirmed	
Charak Pharma Pvt Ltd         CC                     CRISIL A-               180  Reaffirmed	
Corporated Shipyard Pvt Ltd   CC                     CRISIL BB+               50  Downgraded 
                                                                                  from	
                                                                                  CRISIL BBB- 	
Corporated Shipyard Pvt Ltd   Long-TL                CRISIL BB+                8  Downgraded 
                                                                                  from	
                                                                                  CRISIL BBB- 	
Corporated Shipyard Pvt Ltd   Proposed LT Bk Loan    CRISIL BB+               32  Downgraded 
                              Facility                                            from	
                                                                                  CRISIL BBB- 	
Delta Pre Engineered          CC                     CRISIL C                 50  Assigned	
Buildings Pvt Ltd	
Hero Motocorp Ltd             NCDs Programme         CRISIL AAA              150  Reaffirmed	
Hero Motocorp Ltd             CC Limit*              CRISIL AAA           5676.5  Assigned	
*Interchangeable with other fund-based facilities & Interchangeable with 
non-fund-based facilities to the extent of Rs.3655.0 Million 	
Hero Motocorp Ltd             Proposed LT Bk Loan    CRISIL AAA             1764  Assigned	
                              Facility	
Hillwood Furniture Pvt Ltd    CC                     CRISIL BB-               15  Suspended	
Hillwood Imports & Exports    CC                     CRISIL BB+                6  Suspended	
Pvt Ltd	
Honey Mc Dew Gold Inc         Proposed LT Bk Loan    CRISIL C                140  Reassigned	
                              Facility	
Inderdeep Construction        Rupee TL               CRISIL BB-                7  Reaffirmed	
Company	
Inderdeep Construction        CC                     CRISIL BB-               20  Reaffirmed	
Company	
Inderdeep Construction        Proposed Long-TL       CRISIL BB-               23  Reaffirmed	
Company	
Innovassynth Technologies     CC                     CRISIL B                170  Reaffirmed	
(I) Ltd	
Innovassynth Technologies     TL                     CRISIL B                 20  Reaffirmed	
(I) Ltd	
Jadwet Trading Company        TL                     CRISIL B+               4.6  Assigned	
Jadwet Trading Company        Proposed TL            CRISIL B+              49.6  Assigned	
Jadwet Trading Company        CC                     CRISIL B+                50  Assigned	
Jagannath Institute For       Long-TL                CRISIL B+               210  Reaffirmed	
Technology & Management Trust	
Jagannath Institute For       Overdraft Facility     CRISIL B+                50  Reaffirmed	
Technology & Management Trust	
Kamal Cotspin Pvt Ltd         Rupee TL               CRISIL B+               420  Reaffirmed	
Kamal Cotspin Pvt Ltd         CC                     CRISIL B+              92.5  Reaffirmed	
Kotak Mahindra Investments    NCDs                   CRISIL AA+             2000  Assigned	
Ltd	
Kotak Mahindra Investments    Non-Convertible        CRISIL AA+             1250  Reaffirmed	
Ltd                           Débentures	
Kotak Mahindra Investments    Principal-Protected    CRISIL PP-MLD           750  Reaffirmed	
Ltd                           Market-Linked          AA+r	
                              Debentures	
Laxmi Industrial Corporation  CC                     CRISIL B+               20*  Assigned	
Lumbini Constructions Ltd     Long-TL                CRISIL B                200  Suspended	
Lumbini Constructions Ltd     Overdraft Facility     CRISIL B                200  Suspended	
M R Chains Pvt Ltd            CC                     CRISIL D                180  Downgraded 
                                                                                  from	
                                                                                  CRISIL BBB- 	
M R Italian Chains Ltd        CC                     CRISIL C                185  Downgraded 
                                                                                  from	
                                                                                  CRISIL BBB- 	
M. M. Ceramics And Ferro      CC                     CRISIL BB+              150  Reaffirmed	
Alloys	
Meghmani Organics Ltd         CC & WC demand loan#   CRISIL A               1510  Reaffirmed	
#Two way interchangeability between cash credit/working capital demand loan
 and Export Packing Credit (EPC)/ packing credit in foreign currency (PCFC) limits       	
Meghmani Organics Ltd         Export Packing Credit* CRISIL A               1140  Reaffirmed	
*EPC interchangeable with PCFC/Foreign bill Discounting (FBD)	
Meghmani Organics Ltd         Standby FB Limits      CRISIL A                300  Reaffirmed	
Noble Resources And Trading   Overdraft Facility^    CRISIL A               1600 @              	
India Pvt Ltd                                                                                   
 	
^Interchangeable with short term prime lending rate loans, export packing credit, FCNR (B) loan,
letter of credit, guarantees, buyer's credit, working capital demand loan, pre-shipment export
credit, post-shipment export credit, letter of credit, buyer's credit.	
Noble Resources And Trading   Proposed LT Bk Loan    CRISIL A                750 @             	
India Pvt Ltd                 Facility                                                          	
                                                                                                	
Noble Resources And Trading   WC Demand Loan*        CRISIL A               4550 @             	
India Pvt Ltd                                                                                   	
                                                                                                	
* Interchangeable with payment undertaking, letter of credit, financial guarantees, working
capital revolver, export finance credit, bills discounted, letters of credit,
performance/financial guarantees, banker's acceptance credit, buyer's credit, export facility
for purchase, pre-shipment loans against export, import documentary credit, import deferred
payment credits, and guarantees.	
Prabir Foodstuff Factory      CC#*                   CRISIL B                200  Reaffirmed	
#* includes a sub- limit of packing credit of Rs.40 Million	
R. C. Enterprise              Standby Line of Credit CRISIL B+                16  Assigned	
R. C. Enterprise              CC                     CRISIL B+               20*  Assigned	
*Fully interchangeable with Packing Credit	
Rajalaxmi Education Trust     Proposed LT Bk Loan    CRISIL D                 60  Suspended	
                              Facility	
Rajalaxmi Education Trust     Rupee TL               CRISIL D                120  Suspended	
Rasoya Proteins Ltd           CC                     CRISIL BB               320  Upgraded 
                                                                                  from	
                                                                                  CRISIL	
                                                                                  BB-         	
Rasoya Proteins Ltd           Proposed LT Bk Loan    CRISIL BB               550  Upgraded
                              Facility                                            from	
                                                                                  CRISIL	
                                                                                  BB-          	
Rasoya Proteins Ltd           TL                     CRISIL BB               850  Upgraded 
                                                                                  from	
                                                                                  CRISIL	
                                                                                  BB-         	
Ratusaria Steels Pvt Ltd      TL                     CRISIL BB-             27.5  Assigned	
Ratusaria Steels Pvt Ltd      Proposed LT Bk Loan    CRISIL BB-              9.5  Assigned	
                              Facility	
Ratusaria Steels Pvt Ltd      CC                     CRISIL BB-               65  Assigned	
Rural Enterprise Management   Long-TL                CRISIL B+               220  Reaffirmed	
Trust	
S. Subramanyan Construction   CC                     CRISIL BB               400  Assigned	
Co. Pvt Ltd	
Sachdev Food Products         CC                     CRISIL BB                55  Reaffirmed	
Sachdev Food Products Pvt Ltd CC                     CRISIL BB              20.5  Reaffirmed	
Sachdev Food Products Pvt Ltd TL                     CRISIL BB              34.2  Reaffirmed	
Sango Auto Forge Pvt Ltd      CC                     CRISIL B                 25  Upgraded 
                                                                                  from	
                                                                                  CRISIL D	
Sango Auto Forge Pvt Ltd      TL                     CRISIL B               29.7  Upgraded 
                                                                                  from	
                                                                                  CRISIL D	
Shankar Rice Mill             TL                     CRISIL B-               8.7  Assigned	
Shankar Rice Mill             CC                     CRISIL B-                40  Assigned	
Shree Balaji Aromatics Pvt    Long-TL                CRISIL B+                 6  Reaffirmed	
Ltd	
Shree Balaji Aromatics Pvt    CC                     CRISIL B+                50  Reaffirmed	
Ltd	
Shyamsundar Satyanarayan      CC                     CRISIL BB-              100  Reaffirmed	
Textiles Pvt Ltd	
Singhivi Investment &         NCD                    CRISIL BBB              500  Reaffirmed	
Finance Pvt Ltd	
Singhivi Investment &         Line of Credit         CRISIL BBB              100  Reaffirmed	
Finance Pvt Ltd	
Singhivi Investment &         Long-TL                CRISIL BBB             2560  Reaffirmed	
Finance Pvt Ltd	
Singhivi Investment &         Proposed LT Bk Loan    CRISIL BBB             4836  Reaffirmed	
Finance Pvt Ltd               Facility	
Singhivi Investment &         TL                     CRISIL BBB             5504  Reaffirmed	
Finance Pvt Ltd	
Srinivasa Soya Pvt Ltd        TL                     CRISIL B-               100  Reaffirmed	
Srinivasa Soya Pvt Ltd        CC                     CRISIL B-               225  Reaffirmed	
Srinivasa Soya Pvt Ltd        Proposed LT Bk Loan    CRISIL B-                55  Reaffirmed	
                              Facility	
Suresoft Systems Pvt Ltd      TL                     CRISIL BBB-             130  Assigned	
The Krishna District Lorry    CC                     CRISIL BB+               50  Assigned	
Owners Mutually Aided	
Co-Operative Stores Ltd	
The Krishna District Lorry    Proposed CC Limit      CRISIL BB+               30  Assigned	
Owners Mutually Aided	
Co-Operative Stores Ltd	
Vijayalakshmi R & B Rice      CC                     CRISIL B+                50  Assigned	
Trading Company	
Vijayalakshmi R & B Rice      WC Demand Loan         CRISIL B+                50  Assigned	
Trading Company	
Warm Forgings Pvt Ltd         BG                     CRISIL D                  5  Downgraded 
                                                                                  from	
                                                                                  CRISIL A4	
Warm Forgings Pvt Ltd         CC                     CRISIL D                 45  Downgraded
                                                                                  from	
                                                                                  CRISIL B	
Warm Forgings Pvt Ltd         TL                     CRISIL D               64.6  Downgraded
                                                                                  from	
                                                                                  CRISIL B	
Warm Gears Pvt Ltd            CC                     CRISIL D                 25  Downgraded
                                                                                  from	
                                                                                  CRISIL C	
Warm Gears Pvt Ltd            TL                     CRISIL D                 50  Downgraded 
                                                                                  from	
                                                                                  CRISIL C	
--------------------------------------------------------------------------------------------	
$: 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, E-mail at rru.data@reuters.com)

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