March 8, 2017 / 5:59 AM / 9 months ago

CRISIL ratings for Indian debt instruments-Mar 8

    Mar 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 7, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Anna Trouver Export Agenzia             Foreign Bill       CRISIL A4      25      Assigned
                                        Negotiation
Bajaj Steel Industries Ltd              BG                 CRISIL A3+     5       Downgraded
                                                                                  from CRISIL
                                                                                  A2+
Bajaj Steel Industries Ltd              LOC                CRISIL A3+     60      Downgraded
                                                                                  from CRISIL
                                                                                  A2+
Bajaj Steel Industries Ltd              LOC & BG#          CRISIL A3+     70      Downgraded
                                                                                  from CRISIL
                                                                                  A2+
#Includes sublimit of bank guarantee of Rs.5.0 crore
BL Food Industries                      Packing Credit     CRISIL A4      30      Assigned
Calicut Landmark Builders and           Proposed ST Bk     CRISIL A4+     1       Reaffirmed
Developers India Pvt Ltd                Loan Fac
Celebi Ground Handling Delhi Pvt Ltd    BG                 CRISIL A4+     700     Reaffirmed
Competent Automobiles Co. Ltd           BG                 CRISIL A2      25      Upgraded from
                                                                                  CRISIL A3+
Gayatri Construction Co.                BG                 CRISIL A4+     55      Reaffirmed
IIFL Facilities Services Ltd            ST Debt Issue      CRISIL A1+     20000   Assigned
JM Financial Capital Ltd                 CP Issue^         CRISIL A1+     10000   Assigned
^Assigned for initial public offering financing on an episodic basis.
JM Financial Capital Ltd                ST Debt (Including CRISIL A1+     10000   Reaffirmed
                                        CP)
JM Financial Products Ltd               CP Issue^          CRISIL A1+     40000   Assigned
^Assigned for initial public offering financing on an episodic basis.
JM Financial Products Ltd               CP Programme       CRISIL A1+     35000   Reaffirmed
JM Financial Properties And Holdings LtdCP Issue*          CRISIL A1+     10000   Assigned
*Assigned for initial public offering financing on an episodic basis  
Kotak Mahindra Prime Ltd                Proposed ST Bk     CRISIL A1+     29850   Reaffirmed
                                        Loan Fac
Kotak Mahindra Prime Ltd                ST Loan            CRISIL A1+     150     Reaffirmed
KVR Automobiles Pvt Ltd                 BG                 CRISIL A4      15      Reaffirmed
KVR Automobiles Pvt Ltd                 Overdraft          CRISIL A4      55      Reaffirmed
Manjushree Technopack Ltd               BG                 CRISIL A1      30      Reaffirmed
Manjushree Technopack Ltd               LOC                CRISIL A1      250     Reaffirmed
Progressive Share Brokers Pvt Ltd       BG                 CRISIL A4+     400     Assigned
Progressive Share Brokers Pvt Ltd       Proposed ST Bk     CRISIL A4+     350     Assigned
                                        Loan Fac
R.A.K. Ceramics India Pvt Ltd           LOC & BG           CRISIL A2+     605     Reaffirmed
Rama Phosphates Ltd                     LOC & BG           CRISIL A4+     450     Reaffirmed
Saraswathi Engineering Construction Pvt BG                 CRISIL A4      50      Reaffirmed
Ltd
Shri Basaveshwar Veerashaiva            BG                 CRISIL A4      200     Reaffirmed
Vidayavardhak Sangha
Super Olefins Pvt Ltd                   LOC                CRISIL A4+     5       Reaffirmed
Texool Ltd                              Packing Credit     CRISIL A4      60      Reaffirmed
Toyota Financial Services India Ltd     ST Debt Programme  CRISIL A1+     16000   Reaffirmed
Veeral Controls Pvt Ltd                 Inland Guarantees  CRISIL A4      10      Reaffirmed
Vipul Overseas Pvt Ltd                  LOC                CRISIL A4      170     Reaffirmed

LONG TERM RATINGS:
-------------------
Anna Trouver Export Agenzia             Export Packing     CRISIL B       30      Assigned
                                        Credit
Bajaj Steel Industries Ltd              CC@                CRISIL BBB     300     Downgraded
                                                                                  from CRISIL A-
@Includes sublimit for packing credit/post-shipment credit/export packing credit/pre-shipment
credit in foreign currency/foreign bill purchase/post-shipment credit in foreign currency to an
extent of Rs.10 crore
Bajaj Steel Industries Ltd              CC                 CRISIL BBB     140     Downgraded
                                                                                  from CRISIL A-
Bajaj Steel Industries Ltd              TL*                CRISIL BBB     42.5    Downgraded
                                                                                  from CRISIL A-
* Includes sublimit of standby letter of credit/letter of undertaking to an extent of Rs.2.84
crore
Bajaj Steel Industries Ltd              TL                 CRISIL BBB     18.3    Downgraded
                                                                                  from CRISIL A-
BL Food Industries                      TL                 CRISIL B       2.5     Assigned
BL Food Industries                      Foreign Bill       CRISIL B       30      Assigned
                                        Discounting
BL Food Industries                      Open CC            CRISIL B       37.5    Assigned
Calicut Landmark Builders and           TL                 CRISIL BB      199     Reaffirmed
Developers India Pvt Ltd
Celebi Delhi Cargo Terminal Management  CC                 CRISIL BBB-    100     Reaffirmed
India Pvt Ltd
Celebi Delhi Cargo Terminal Management  TL                 CRISIL BBB-    1502.3  Reaffirmed
India Pvt Ltd
Celebi Ground Handling Delhi Pvt Ltd    Proposed LT Bk     CRISIL BB      50      Reaffirmed
                                        Loan Fac
Celebi Ground Handling Delhi Pvt Ltd    TL                 CRISIL BB      600     Reaffirmed
Competent Automobiles Co. Ltd           CC                 CRISIL BBB+    405     Upgraded from
                                                                                  CRISIL BBB
Competent Automobiles Co. Ltd           Inventory Funding  CRISIL BBB+    652     Upgraded from
                                        Fac                                       CRISIL BBB
Competent Automobiles Co. Ltd           Standby Line of    CRISIL BBB+    8       Upgraded from
                                        Credit                                    CRISIL BBB
Deepjyot Engineers Pvt Ltd              CC                 CRISIL B+      20      Upgraded from
                                                                                  CRISIL B
Deepjyot Engineers Pvt Ltd              TL                 CRISIL B+      36      Upgraded from
                                                                                  CRISIL B
Epygen Biotech Pvt Ltd                  TL                 CRISIL B       250     Assigned
Ganpati Cold Storage                    Overdraft          CRISIL B       40      Reaffirmed
Ganpati Cold Storage                    TL                 CRISIL B       22.5    Reaffirmed
Gayatri Construction Co.                CC                 CRISIL BB-     25      Reaffirmed
Jayshree Enterprises - Pune             Proposed TL        CRISIL B+      100     Reaffirmed
JM Financial Capital Ltd                NCD                CRISIL AA      2000    Reaffirmed
JM Financial Products Ltd               NCD Issue          CRISIL AA      10000   Reaffirmed
JM Financial Products Ltd               NCD Issue          CRISIL AA      7000    Reaffirmed
KKR India Financial Services Pvt Ltd    Overdraft#         CRISIL AA      993.8   Reaffirmed
# Including sublimit of Rs.99.38 Crore of Working Capital Term Loan.
KKR India Financial Services Pvt Ltd    Proposed LT Bk     CRISIL AA      7156.2  Reaffirmed
                                        Loan Fac
KKR India Financial Services Pvt Ltd    TL                 CRISIL AA      5850    Reaffirmed
Kolkata Municipal Corporation           Corporate Credit   CCR A+         -       Reaffirmed
                                        Rating
Kolkata Municipal Corporation           Bond               CRISIL A       100     Reaffirmed
Kotak Mahindra Prime Ltd                CC & WC demand loanCRISIL AAA     38500   Reaffirmed
Kotak Mahindra Prime Ltd                LT Loan            CRISIL AAA     2710    Reaffirmed
Kotak Mahindra Prime Ltd                Proposed LT Bk     CRISIL AAA     28790   Reaffirmed
                                        Loan Fac
KVR Automobiles Pvt Ltd                 CC                 CRISIL B+      50      Reaffirmed
M.R.S. Leather Exports Pvt Ltd          CC                 CRISIL BB-     20      Reaffirmed
M.R.S. Leather Exports Pvt Ltd          Export Packing     CRISIL BB-     35      Reaffirmed
                                        Credit
M.R.S. Leather Exports Pvt Ltd          Proposed LT Bk     CRISIL BB-     8       Reaffirmed
                                        Loan Fac
M.R.S. Leather Exports Pvt Ltd          Standby Line of    CRISIL BB-     7       Reaffirmed
                                        Credit
M/s Aditya Agro - Chhindwara            Proposed TL        CRISIL D       2.8     Downgraded
                                                                                  from CRISIL B-
M/s Aditya Agro - Chhindwara            TL                 CRISIL D       64.4    Downgraded
                                                                                  from CRISIL B-
Manjushree Technopack Ltd               CC                 CRISIL A       1000    Reaffirmed
Manjushree Technopack Ltd               LT Loan            CRISIL A       1410    Reaffirmed
Osia Jewels Pvt Ltd                     CC                 CRISIL BB-     75      Reaffirmed
Osia Jewels Pvt Ltd                     Proposed LT Bk     CRISIL BB-     125     Reaffirmed
                                        Loan Fac
Planned Social Concern                  Proposed LT Bk     CRISIL B+      70      Assigned
                                        Loan Fac
Polaris Consulting & Services Ltd       Corporate Credit   CCR AA-        -       Reaffirmed
                                        Rating
Power Finance Corporation Ltd           CC*                CRISIL AAA     100000  Reaffirmed
*Limit for working capital'working capital demand loan/overdraft facility/cash credit/line of
credit/bank guarantee. Limit includes long-term and short-term facilities. Total working capital
borrowings not to exceed board-approved limit of Rs.10000 crore.
Power Finance Corporation Ltd           TL                 CRISIL AAA     110000  Reaffirmed
Premium Medical and Health Care         TL                 CRISIL BB-     2165    Reaffirmed
Providers Pvt Ltd
R.A.K. Ceramics India Pvt Ltd           Buyer`s Credit     CRISIL A-      180     Reaffirmed
R.A.K. Ceramics India Pvt Ltd           CC@                CRISIL A-      1880    Reaffirmed
@Interchangeable with packing credit/buyer’s credit/export bill discounting and working capital
demand loan.
R.A.K. Ceramics India Pvt Ltd           Proposed LT Bk     CRISIL A-      137     Reaffirmed
                                        Loan Fac
R.A.K. Ceramics India Pvt Ltd           Rupee TL           CRISIL A-      150     Reaffirmed
Rama Phosphates Ltd                     CC                 CRISIL BB+     700     Upgraded from
                                                                                  CRISIL BB
Rama Phosphates Ltd                     Proposed LT Bk     CRISIL BB+     12      Upgraded from
                                        Loan Fac                                  CRISIL BB
Rama Phosphates Ltd                     TL                 CRISIL BB+     38      Upgraded from
                                                                                  CRISIL BB
Saraswathi Engineering Construction Pvt CC/ Overdraft Fac  CRISIL B       45      Reaffirmed
Ltd
Saraswathi Engineering Construction Pvt Proposed Overdraft CRISIL B       5       Reaffirmed
Ltd                                     Fac
Sethi Seeds India Pvt Ltd               CC                 CRISIL BB-     130     Assigned
Sharoff Steel Traders                   CC                 CRISIL BB+     210     Reaffirmed
Sharoff Steel Traders                   Channel Financing  CRISIL BB+     50      Reaffirmed
Sharoff Steel Traders                   Proposed LT Bk     CRISIL BB+     10      Assigned
                                        Loan Fac
Shri Basaveshwar Veerashaiva            TL                 CRISIL B+      777.1   Upgraded from
Vidayavardhak Sangha                                                              CRISIL B
Super Olefins Pvt Ltd                   Bill Discounting   CRISIL BB      23.8    Reaffirmed
Super Olefins Pvt Ltd                   CC                 CRISIL BB      80      Reaffirmed
Super Olefins Pvt Ltd                   LT Loan            CRISIL BB      11.2    Assigned
Texool Ltd                              Bill Discounting   CRISIL B       5       Reaffirmed
Texool Ltd                              Foreign Bill       CRISIL B       30      Reaffirmed
                                        Purchase
Tirupati Agri Inputs                    Proposed LT Bk     CRISIL B+      2.6     Assigned
                                        Loan Fac
Tirupati Agri Inputs                    CC                 CRISIL B+      50      Assigned
Tirupati Agri Inputs                    LT Loan            CRISIL B+      6.4     Assigned
Toyota Financial Services India Ltd     NCDs               CRISIL AAA     3000    Assigned
Toyota Financial Services India Ltd     NCDs               CRISIL AAA     31000   Reaffirmed
Unique Malls Pvt Ltd                    LT Loan            CRISIL BB-     1875    Reaffirmed
Veeral Controls Pvt Ltd                 CC                 CRISIL B+      40      Reaffirmed
Veeral Controls Pvt Ltd                 Proposed LT Bk     CRISIL B+      35      Reaffirmed
                                        Loan Fac
Vipul Overseas Pvt Ltd                  CC                 CRISIL B+      45      Reaffirmed
--------------------------------------------------------------------------------------------
$: 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below