April 4, 2017 / 5:06 AM / 8 months ago

CRISIL ratings for Indian debt instruments-Apr 4

    Apr 4 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 3, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ambuja Cements Ltd                      LOC & BG           CRISIL A1+     700     Assigned
Amora Tiles Pvt Ltd                     BG                 CRISIL A1      3.75    Upgraded from
                                                                                  CRISIL A3+
Castle Rock Fisheries Pvt Ltd           Post Shipment      CRISIL A4+     44.7    Reaffirmed
                                        Credit
Castle Rock Fisheries Pvt Ltd           Pre Shipment CreditCRISIL A4+     15      Reaffirmed
Colourflex Laminators Ltd               Inland/Import LOC  CRISIL A3      9       Reaffirmed
Commander Vitrified Pvt Ltd             LOC & BG           CRISIL A2      7       Upgraded from
                                                                                  CRISIL A3
Davanam Jewellerrs Pvt Ltd              BG                 CRISIL A4+     4       Assigned
Frisco Foods Pvt Ltd                    Export Bill        CRISIL A4      13.5    Downgraded
                                        Purchase                                  from CRISIL
                                                                                  A4+
Frisco Foods Pvt Ltd                    Export Bill        CRISIL A4      15      Downgraded
                                        Purchase                                  from CRISIL
                                        -Discounting                              A4+
Frisco Foods Pvt Ltd                    Export Packing     CRISIL A4      5       Downgraded
                                        Credit                                    from CRISIL
                                                                                  A4+
Inspira Enterprise India Pvt Ltd        BG                 CRISIL A3+     60      Reaffirmed
Lauls Ltd                               LOC                CRISIL A3+     3       Assigned
Lauls Ltd                               BG                 CRISIL A3+     3       Assigned
Mahalaxmi Dhatu Udhyog Pvt Ltd          BG                 CRISIL A4      4       Reaffirmed
Offshore Infrastructures Ltd            BG                 CRISIL A2+     502     Reaffirmed
Offshore Infrastructures Ltd            Proposed BG        CRISIL A2+     123     Reaffirmed
Primo Fashions                          Packing Credit     CRISIL A4+     7.45    Reaffirmed
Raj Fishmeal and Oil Company            LOC                CRISIL A4+     0.5     Assigned
Ravi Foods Pvt Ltd                      BG                 CRISIL A1      5       Reaffirmed
Ravi Foods Pvt Ltd                      Inland/Import LOC  CRISIL A1      5       Reaffirmed
Ravi Foods Pvt Ltd                      Packing Credit in  CRISIL A1      14      Reaffirmed
                                        Foreign Currency
Shogini Technoarts Pvt Ltd              LOC                CRISIL A4+     25      Reaffirmed
Sree Saradhambal Automobiles Pvt Ltd    Inventory Funding  CRISIL A4+     5       Reaffirmed
                                        Fac
Sree Saradhambal Automobiles Pvt Ltd    Overdraft          CRISIL A4+     3.5     Reaffirmed


LONG TERM RATINGS:
-------------------
Ambika Electronics                      Secured Overdraft  CRISIL BB-     13.5    Reaffirmed
                                        Fac
Ambuja Cements Ltd                      CC                 CRISIL AAA     100     Reaffirmed
Amora Tiles Pvt Ltd                     CC                 CRISIL A       9       Upgraded from
                                                                                  CRISIL BBB
Amora Tiles Pvt Ltd                     Proposed LT Bk     CRISIL A       1.25    Upgraded from
                                        Loan Fac                                  CRISIL BBB
Amora Tiles Pvt Ltd                     TL                 CRISIL A       15.4    Upgraded from
                                                                                  CRISIL BBB
Andhra Pradesh Power Development Co. LtdCC                 CRISIL B-      900     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Andhra Pradesh Power Development Co. LtdProposed FB Bk     CRISIL B-      600     Downgraded
                                        Limits                                    from CRISIL
                                                                                  BBB-
Avenue Supermarts Ltd                   Proposed TL        CRISIL AA      170.24  Upgraded from
                                                                                  CRISIL AA-
Avenue Supermarts Ltd                   Proposed WC Fac    CRISIL AA      119.36  Upgraded from
                                                                                  CRISIL AA-
Avenue Supermarts Ltd                   TL                 CRISIL AA      357.4   Upgraded from
                                                                                  CRISIL AA-
Avenue Supermarts Ltd                   WC Fac             CRISIL AA      103     Upgraded from
                                                                                  CRISIL AA-
Bihani Enterprises                      CC                 CRISIL BB      9       Upgraded from
                                                                                  CRISIL B+
Bihani Enterprises                      TL                 CRISIL BB      3.5     Upgraded from
                                                                                  CRISIL B+
Castle Rock Fisheries Pvt Ltd           Proposed LT Bk     CRISIL BB      5.3     Reaffirmed
                                        Loan Fac
Cauvery Motors Pvt Ltd                  CC                 CRISIL BB      6       Reaffirmed
Cauvery Motors Pvt Ltd                  Inventory Funding  CRISIL BB      56      Reaffirmed
                                        Fac
Cauvery Motors Pvt Ltd                  LT Loan            CRISIL BB      1.27    Reaffirmed
Colourflex Laminators Ltd               CC                 CRISIL BBB-    14.5    Reaffirmed
Colourflex Laminators Ltd               Proposed LT Bk     CRISIL BBB-    2       Reaffirmed
                                        Loan Fac
Colourflex Laminators Ltd               TL                 CRISIL BBB-    4.5     Reaffirmed
Commander Vitrified Pvt Ltd             CC                 CRISIL BBB+    16.5    Upgraded from
                                                                                  CRISIL BBB-
Commander Vitrified Pvt Ltd             LT Loan            CRISIL BBB+    28.89   Upgraded from
                                                                                  CRISIL BBB-
Commander Vitrified Pvt Ltd             Proposed LT Bk     CRISIL BBB+    7.22    Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Davanam Jewellerrs Pvt Ltd              CC                 CRISIL BB      73      Assigned
Davanam Jewellerrs Pvt Ltd              CC                 CRISIL BB-     6       Upgraded from
                                                                                  CRISIL B+
Davanam Jewellerrs Pvt Ltd              LT Loan            CRISIL BB-     0.92    Upgraded from
                                                                                  CRISIL B+
Davanam Jewellerrs Pvt Ltd              Proposed LT Bk     CRISIL BB-     2.08    Upgraded from
                                        Loan Fac                                  CRISIL B+
Frisco Foods Pvt Ltd                    TL                 CRISIL B+      9.6     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
H. K. Industries                        CC                 CRISIL B+      5       Reaffirmed
Inspira Enterprise India Pvt Ltd        CC                 CRISIL BBB     10      Assigned
J. B. Cotton Industries                 CC                 CRISIL BB-     10      Reaffirmed
J. B. Cotton Industries                 Proposed LT Bk     CRISIL BB-     1.5     Reaffirmed
                                        Loan Fac
Jay Khodiyar Cotton Pvt Ltd             CC                 CRISIL B+      7.95    Downgraded
                                                                                  from CRISIL B
KLG Jewellers                           Electronic Dealer  CRISIL BB-     10      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
KLG Jewellers                           LT Loan            CRISIL BB-     4       Reaffirmed
KLG Jewellers                           Proposed Overdraft CRISIL BB-     5       Assigned
                                        Fac
Kogta Financial India Ltd               TL                 CRISIL BB+     5       Reaffirmed
Kogta Financial India Ltd               CC                 Withdrawal     20      Reaffirmed
Laljee Godhoo and Co.                   CC                 CRISIL BBB-    33      Reaffirmed
Lauls Ltd                               Rupee TL           CRISIL BBB     48      Assigned
Lauls Ltd                               CC/ Overdraft Fac  CRISIL BBB     9       Assigned
Mahalaxmi Dhatu Udhyog Pvt Ltd          CC                 CRISIL B+      12      Reaffirmed
Mahalaxmi Dhatu Udhyog Pvt Ltd          Proposed LT Bk     CRISIL B+      6       Reaffirmed
                                        Loan Fac
Nandi Sahakari Sakkare Karakhane NiyamitSugar Pledge CC    CRISIL BB+     75      Reaffirmed
Offshore Infrastructures Ltd            CC                 CRISIL A-      60      Reaffirmed
Offshore Infrastructures Ltd            Proposed CC Limit  CRISIL A-      40      Reaffirmed
Offshore Infrastructures Ltd            Proposed LT Bk     CRISIL A-      25      Reaffirmed
                                        Loan Fac
Power Finance Corporation Ltd           CC*                CRISIL AAA     10000   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     11000   Reaffirmed
Primo Fashions                          Proposed LT Bk     CRISIL BB-     2.55    Reaffirmed
                                        Loan Fac
Raj Fishmeal and Oil Company            CC                 CRISIL BB+     34.5    Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Raj Fishmeal and Oil Company            LT Bk Fac          CRISIL BB+     5.5     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Raj Fishmeal and Oil Company            Overdraft*         CRISIL BB+     7       Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
*Long term
Raj Fishmeal and Oil Company            TL                 CRISIL BB+     7.5     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Ravi Foods Pvt Ltd                      CC                 CRISIL A       25      Reaffirmed
Ravi Foods Pvt Ltd                      Export Packing     CRISIL A       80      Reaffirmed
                                        Credit
Ravi Foods Pvt Ltd                      Proposed LT Bk     CRISIL A       10      Reaffirmed
                                        Loan Fac
Ravi Foods Pvt Ltd                      Standby FB Limits  CRISIL A       11      Reaffirmed
Shogini Technoarts Pvt Ltd              CC                 CRISIL BB+     28      Reaffirmed
Shogini Technoarts Pvt Ltd              Proposed LT Bk     CRISIL BB+     0.25    Reaffirmed
                                        Loan Fac
Shogini Technoarts Pvt Ltd              TL                 CRISIL BB+     30.75   Assigned
Sree Saradhambal Automobiles Pvt Ltd    Inventory Funding  CRISIL BB-     24.5    Reaffirmed
                                        Fac
Sree Saradhambal Automobiles Pvt Ltd    LT Loan            CRISIL BB-     10      Reaffirmed
Sree Saradhambal Automobiles Pvt Ltd    Proposed LT Bk     CRISIL BB-     1       Reaffirmed
                                        Loan Fac
Sun Forge Pvt Ltd                       CC                 CRISIL BB-     7       Downgraded
                                                                                  from CRISIL BB
Surbhi Industries - Morbi               CC                 CRISIL B       1.8     Reaffirmed
Surbhi Industries - Morbi               TL                 CRISIL B       6       Reaffirmed
Vatika Tracom Pvt Ltd                   CC                 CRISIL BB      8       Upgraded from
                                                                                  CRISIL B+
Vatika Tracom Pvt Ltd                   Proposed CC Limit  CRISIL BB      1.5     Upgraded from
                                                                                  CRISIL B+
Waa Solar Pvt Ltd                       LT Loan            CRISIL BBB+    75.09   Reaffirmed
Waa Solar Pvt Ltd                       Proposed LT Bk     CRISIL BBB+    24.91   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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