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CRISIL ratings for Indian debt instruments-Jun 19
June 19, 2017 / 4:37 AM / in 5 months

CRISIL ratings for Indian debt instruments-Jun 19

    Jun 19 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 16, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aishwarya Lifesciences                  BG                 CRISIL A2      24      Reaffirmed
Amit Leather Wears                      Packing Credit in  CRISIL A4      70      Assigned
                                        Foreign Currency
Balaji Powertronics                     LOC                CRISIL A1      100     Assigned
Bellona Paper Mill Pvt Ltd              BG                 CRISIL A4      10      Reaffirmed
ESGI Garments Pvt Ltd                   Foreign Bill       CRISIL A4      90      Reaffirmed
                                        Purchase
ESGI Garments Pvt Ltd                   Proposed ST Bk     CRISIL A4      17      Reaffirmed
                                        Loan Fac
Exotica Ceramic Pvt Ltd                 BG                 CRISIL A4+     22.5    Reaffirmed
Frontline Systems and Services Pvt Ltd  BG                 CRISIL A4      30      Reaffirmed
Issuer Not Cooperating
Frontline Systems and Services Pvt Ltd  LOC                CRISIL A4      10      Reaffirmed
Issuer Not Cooperating
Frontline Systems and Services Pvt Ltd  Overdraft          CRISIL A4      15      Reaffirmed
Issuer Not Cooperating
Garuda Packaging Pvt Ltd                BG                 CRISIL A4+     10      Reaffirmed
Garuda Packaging Pvt Ltd                LOC                CRISIL A4+     10      Reaffirmed
Garuda Packaging Pvt Ltd                Proposed ST Bk     CRISIL A4+     106     Reaffirmed
                                        Loan Fac
Gee Gee Agro Tech                       BG                 CRISIL A4      5       Reaffirmed
Issuer Not Cooperating
HDB Financial Services Ltd              ST Debt (Including CRISIL A1+     75000   Reaffirmed
                                        CP)
Enhanced from 4000 Crore
HDB Financial Services Ltd              BG                 CRISIL A2      10      Reaffirmed
Himachal Power Products                 LOC                CRISIL A1      100     Assigned
Hothur Traders 100% E.O.U.              BG                 CRISIL A4      73.3    Reaffirmed
Issuer Not Cooperating
Hothur Traders 100% E.O.U.              Proposed BG        CRISIL A4      26.7    Reaffirmed
Issuer Not Cooperating
KBR Infratech Ltd                       BG                 CRISIL A3      920     Reaffirmed
Lanson Motors Pvt Ltd                   Inventory Funding  CRISIL A4+     695     Reaffirmed
                                        Fac
Issuer Not Cooperating
Mangal Trading Company                  BG                 CRISIL A4+     80      Reaffirmed
Microtek International Pvt Ltd          LOC                CRISIL A1      150     Assigned
National Bank For Agriculture and Rural One- Year CDs      CRISIL A1+     100000  Reaffirmed
Development                             Programme
National Bank For Agriculture and Rural CP                 CRISIL A1+     230000  Reaffirmed
Development
Pristine Medical Equipments Pvt Ltd     Inland/Import LOC  CRISIL A4      2.5     Assigned
Shivalik Industries - Delhi             LOC                CRISIL A1      100     Assigned
Shivalik Industries - Delhi             BG                 CRISIL A1      5       Assigned
Silpa Projects and Infrastructure India BG                 CRISIL A4      360     Reaffirmed
Pvt Ltd
Sri Kaliswari Metal Powders Pvt Ltd     LOC                CRISIL A4+     185     Reaffirmed
Starcare Hospital Kozhikode Pvt Ltd     BG                 CRISIL A4      10      Reaffirmed
Starcare Hospital Kozhikode Pvt Ltd     ST Loan            CRISIL A4      8       Reaffirmed
Sunvik Steels Pvt Ltd                   BG                 CRISIL A4+     30      Downgraded
                                                                                  from CRISIL A3
Issuer Not Cooperating
Sunvik Steels Pvt Ltd                   LOC                CRISIL A4+     100     Downgraded
                                                                                  from CRISIL A3
Issuer Not Cooperating
Suresh Techno Electro (India) LLP       BG                 CRISIL A4      60      Reaffirmed
Issuer Not Cooperating
Tiki Tar Industries (Baroda) Ltd        BG                 CRISIL A3      85      Reaffirmed
Tiki Tar Industries (Baroda) Ltd        Bill Discounting   CRISIL A3      240     Reaffirmed
                                        under LOC
Tiki Tar Industries (Baroda) Ltd        Import LOC Limit   CRISIL A3      105     Reaffirmed
Tiki Tar Industries (Baroda) Ltd        LOC                CRISIL A3      60      Reaffirmed
Tiki Tar Industries (Baroda) Ltd        Loan Equivalent    CRISIL A3      15.5    Reaffirmed
                                        Risk Limits
Toyota Financial Services India Ltd     STD/CP             CRISIL A1+     18000   Reaffirmed
Enhanced from Rs.1600 crore
Universal Power Products                LOC                CRISIL A1      80      Assigned
Varmora Furnitures Pvt Ltd              BG                 CRISIL A4+     5       Reaffirmed
Varmora Furnitures Pvt Ltd              Foreign Exchange   CRISIL A4+     2       Reaffirmed
                                        Forward
Varmora Furnitures Pvt Ltd              LOC                CRISIL A4+     30      Reaffirmed
Varmora Plastech Pvt Ltd                BG                 CRISIL A4+     5       Reaffirmed
Varmora Plastech Pvt Ltd                Foreign Exchange   CRISIL A4+     2       Reaffirmed
                                        Forward
Varmora Plastech Pvt Ltd                Inland/Import LOC  CRISIL A4+     70      Reaffirmed
Venkraft Paper Mills Pvt Ltd            LOC                CRISIL A4      7.5     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
VGN Homes Pvt Ltd                       Bill Purchase      CRISIL A4      10      Reaffirmed
Issuer Not Cooperating

MEDIUM TERM RATINGS:
-------------------
National Bank For Agriculture and Rural FD Programme       FAAA           1000    Reaffirmed
Development

LONG TERM RATINGS:
-------------------
Aishwarya Healthcare                    CC                 CRISIL BBB+    300     Reaffirmed
Aishwarya Healthcare                    LT Loan            CRISIL BBB+    550     Reaffirmed

Aishwarya Lifesciences                  CC                 CRISIL BBB+    300     Reaffirmed
Aishwarya Lifesciences                  LT Loan            CRISIL BBB+    220     Reaffirmed
Aishwarya Lifesciences                  Proposed TL        CRISIL BBB+    206     Reaffirmed
Amit Leather Wears                      TL                 CRISIL B+      32      Assigned
Amit Leather Wears                      Proposed TL        CRISIL B+      3       Assigned
Amitex Agro Product Pvt Ltd             CC                 CRISIL B       70      Assigned
Amitex Agro Product Pvt Ltd             Proposed LT Bk     CRISIL B       130     Assigned
                                        Loan Fac
Argunt Aggregates Pvt Ltd               CC                 CRISIL BB-     20      Assigned
Argunt Aggregates Pvt Ltd               LT Loan            CRISIL BB-     30      Assigned
Arunodya Feeds Pvt Ltd                  CC                 CRISIL BB-     46.5    Assigned;
                                                                                  Suspenion
                                                                                  Revoked
Balaji Powertronics                     CC                 CRISIL A+      650     Assigned
Bansal Rice Mills - Muktsar             CC                 CRISIL D       30      Reaffirmed
Issuer Not Cooperating
Bansal Rice Mills - Muktsar             TL                 CRISIL D       20      Reaffirmed
Issuer Not Cooperating
Bansal Rice Mills - Muktsar             Warehouse FinancingCRISIL D       40      Reaffirmed
Issuer Not Cooperating
Bellona Paper Mill Pvt Ltd              CC                 CRISIL B+      40      Reaffirmed
Bellona Paper Mill Pvt Ltd              TL                 CRISIL B+      73.5    Reaffirmed
Caspia Hotels Pvt Ltd                   TL                 CRISIL BBB-    600     Assigned
Celebrity Biopharma Ltd                 CC                 CRISIL BBB-    82.5    Reaffirmed
Celebrity Biopharma Ltd                 LT Loan            CRISIL BBB-    60      Reaffirmed
Chennai Auto Agency Pvt Ltd             Inventory Funding  CRISIL BB+     150     Downgraded
                                        Fac                                       from CRISIL
                                                                                  BBB-
Issuer Not Cooperating
Chennai Auto Agency Pvt Ltd             Proposed Inventory CRISIL BB+     50      Downgraded
                                        Funding                                   from CRISIL
                                                                                  BBB-
Issuer Not Cooperating
ESGI Garments Pvt Ltd                   CC                 CRISIL B-      7       Downgraded
                                                                                  from CRISIL B+
ESGI Garments Pvt Ltd                   Packing Credit     CRISIL B-      80      Downgraded
                                                                                  from CRISIL B+
ESGI Garments Pvt Ltd                   TL                 CRISIL B-      9       Downgraded
                                                                                  from CRISIL B+
Exotica Ceramic Pvt Ltd                 CC                 CRISIL BB      80      Upgraded from
                                                                                  CRISIL BB-
Exotica Ceramic Pvt Ltd                 Proposed LT Bk     CRISIL BB      20      Upgraded from
                                        Loan Fac                                  CRISIL BB-
Exotica Ceramic Pvt Ltd                 TL                 CRISIL BB      2.5     Upgraded from
                                                                                  CRISIL BB-
Field Motor Pvt Ltd                     CC                 CRISIL BB      10      Reaffirmed
Issuer Not Cooperating
Field Motor Pvt Ltd                     Inventory Funding  CRISIL BB      165     Reaffirmed
                                        Fac
Issuer Not Cooperating
Field Motor Pvt Ltd                     Proposed LT Bk     CRISIL BB      10      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Field Motor Pvt Ltd                     TL                 CRISIL BB      15      Reaffirmed
Issuer Not Cooperating
Frontline Systems and Services Pvt Ltd  Proposed WC Fac    CRISIL B       95      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Garuda Packaging Pvt Ltd                CC                 CRISIL BB      70      Upgraded from
                                                                                  CRISIL BB-
Garuda Packaging Pvt Ltd                Export Packing     CRISIL BB      20      Upgraded from
                                        Credit                                    CRISIL BB-
Garuda Packaging Pvt Ltd                Proposed LT Bk     CRISIL BB      34      Upgraded from
                                        Loan Fac                                  CRISIL BB-
Gee Emm Overseas                        CC                 CRISIL B       60      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Gee Emm Overseas                        Inventory Funding  CRISIL B       23.5    Downgraded
                                        Fac                                       from CRISIL B+
Issuer Not Cooperating
Gee Emm Overseas                        TL                 CRISIL B       16.5    Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Gee Gee Agro Tech                       CC                 CRISIL B       110     Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Gee Gee Agro Tech                       Inventory Funding  CRISIL B       75      Downgraded
                                        Fac                                       from CRISIL B+
Issuer Not Cooperating
Gee Gee Agro Tech                       Proposed LT Bk     CRISIL B       10      Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Global Leathers Pvt Ltd                 CC                 CRISIL BBB-    30      Assigned
Global Leathers Pvt Ltd                 TL                 CRISIL BBB-    80      Assigned
HDB Financial Services Ltd              LT Bk Fac          CRISIL AAA     73751.5 Reaffirmed
HDB Financial Services Ltd              Proposed LT Bk     CRISIL AAA     91248.5 Reaffirmed
                                        Loan Fac
HDB Financial Services Ltd              Perpetual Bonds    CRISIL AAA     5000    Assigned
                                        Issue 
HDB Financial Services Ltd              NCD                CRISIL AAA     75000   Assigned
HDB Financial Services Ltd              NCDs               CRISIL AAA     200000  Reaffirmed
HDB Financial Services Ltd              Subordinated Debt  CRISIL AAA     20000   Reaffirmed
Himachal Power Products                 CC                 CRISIL A+      250     Assigned
Himavasini Motors Pvt Ltd               CC                 CRISIL B       50      Reaffirmed
Issuer Not Cooperating
Himavasini Motors Pvt Ltd               Proposed LT Bk     CRISIL B       1.6     Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Himavasini Motors Pvt Ltd               TL                 CRISIL B       18.4    Reaffirmed
Issuer Not Cooperating
Hind Glass Industries                   CC                 CRISIL BB-     90      Reaffirmed
Hind Glass Industries                   Standby LOC        CRISIL BB-     35      Reaffirmed
Hindustan Hatcheries Pvt Ltd            CC                 CRISIL BB-     20      Assigned;
                                                                                  Suspension
                                                                                  Revoked
Hindustan Hatcheries Pvt Ltd            LT Loan            CRISIL BB-     50      Assigned;
                                                                                  Suspension
                                                                                  Revoked
KBR Infratech Ltd                       CC                 CRISIL BBB-    265     Reaffirmed
Kritika Enterprises                     CC                 CRISIL D       80      Reaffirmed
Issuer Not Cooperating
Lanson Motors Pvt Ltd                   CC                 CRISIL BB-     50      Reaffirmed
Issuer Not Cooperating
Lanson Motors Pvt Ltd                   LT Loan            CRISIL BB-     384     Reaffirmed
Issuer Not Cooperating
Lanson Motors Pvt Ltd                   Proposed LT Bk     CRISIL BB-     25.3    Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Mangal Trading Company                  Overdraft          CRISIL BB      3.9     Upgraded from
                                                                                  CRISIL BB-
Mangal Trading Company                  TL                 CRISIL BB      16.1    Upgraded from
                                                                                  CRISIL BB-
Microtek International Pvt Ltd          Proposed LT Bk     CRISIL A+      110     Assigned
                                        Loan Fac
Microtek International Pvt Ltd          CC                 CRISIL A+      700     Assigned
National Bank For Agriculture and Rural Bond Issue         CRISIL AAA     40000   Assigned
Development
National Bank For Agriculture and Rural Bonds              CRISIL AAA     1220000 Reaffirmed
Development
National Bank For Agriculture and Rural Tax- Free Bonds    CRISIL AAA     50000   Reaffirmed
Development
PLK Manufacturing Unit                  CC                 CRISIL BB-     75      Reaffirmed
Pristine Medical Equipments Pvt Ltd     Proposed LT Bk     CRISIL B-      20      Assigned
                                        Loan Fac
Pristine Medical Equipments Pvt Ltd     LT Loan            CRISIL B-      27      Assigned
Pristine Medical Equipments Pvt Ltd     CC                 CRISIL B-      30.5    Assigned
Pulikkottil Lazar and Sons Jewellery    Proposed LT Bk     CRISIL BB-     10      Reaffirmed
                                        Loan Fac
Pulikkottil Lazar and Sons Jewellery    Proposed WC Fac    CRISIL BB-     100     Reaffirmed
Radiant Textiles Ltd                    CC                 CRISIL B+      500     Reaffirmed
Issuer Not Cooperating
Radiant Textiles Ltd                    Corporate Loan     CRISIL B+      60      Reaffirmed
Issuer Not Cooperating
Radiant Textiles Ltd                    Proposed LT Bk     CRISIL B+      202.6   Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Radiant Textiles Ltd                    TL                 CRISIL B+      247.4   Reaffirmed
Issuer Not Cooperating
Redhu Farms Pvt Ltd                     CC                 CRISIL D       210     Reaffirmed
Issuer Not Cooperating
Redhu Farms Pvt Ltd                     TL                 CRISIL D       26.9    Reaffirmed
Issuer Not Cooperating
Sagar Motors - Noida                    Electronic Dealer  CRISIL BB-     75      Upgraded from
                                        Financing                                 CRISIL B
                                        Scheme(e- DFS)
Sagar Motors - Noida                    Proposed LT Bk     CRISIL BB-     25      Upgraded from
                                        Loan Fac                                  CRISIL B
Sew Krishnagar Baharampore Highways Ltd TL                 CRISIL D       6003.2  Reaffirmed
SEW LSY Highways Ltd                    TL                 CRISIL D       17000   Reaffirmed
Shivalik Industries - Delhi             CC                 CRISIL A+      250     Assigned
Silpa Projects and Infrastructure India CC                 CRISIL B+      330     Reaffirmed
Pvt Ltd
Silpa Projects and Infrastructure India Proposed LT Bk     CRISIL B+      43      Reaffirmed
Pvt Ltd                                 Loan Fac
Silpa Projects and Infrastructure India TL                 CRISIL B+      10      Reaffirmed
Pvt Ltd
Sri Balaji Textiles                     CC                 CRISIL BB-     69      Assigned
Sri Balaji Textiles                     Proposed WC Fac    CRISIL BB-     1       Assigned
Sri Kaliswari Metal Powders Pvt Ltd     CC                 CRISIL BB+     45      Reaffirmed
Sri Kaliswari Metal Powders Pvt Ltd     LT Loan            CRISIL BB+     11.4    Reaffirmed
Sri Kaliswari Metal Powders Pvt Ltd     Proposed LT Bk     CRISIL BB+     5.6     Assigned
                                        Loan Fac
Starcare Hospital Kozhikode Pvt Ltd     Proposed LT Bk     CRISIL B+      107     Reaffirmed
                                        Loan Fac
Starcare Hospital Kozhikode Pvt Ltd     TL                 CRISIL B+      220     Reaffirmed
Sunvik Steels Pvt Ltd                   CC                 CRISIL BB+     385     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Issuer Not Cooperating
Sunvik Steels Pvt Ltd                   LT Loan            CRISIL BB+     274.1   Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Issuer Not Cooperating
Suresh Techno Electro (India) LLP       CC                 CRISIL B+      15      Reaffirmed
Issuer Not Cooperating
Suresh Techno Electro (India) LLP       TL                 CRISIL B+      2.5     Reaffirmed
Issuer Not Cooperating
Tiki Tar Industries (Baroda) Ltd        CC                 CRISIL BBB-    345     Reaffirmed
Tiki Tar Industries (Baroda) Ltd        WC Demand Loan     CRISIL BBB-    35      Reaffirmed
Toyota Financial Services India Ltd     NCD                CRISIL AAA     8000    Assigned
Toyota Financial Services India Ltd     NCD                CRISIL AAA     36000   Reaffirmed
Ujjwal Autowheels Pvt Ltd               CC                 CRISIL BB+     100     Reaffirmed
Unishire Urbanscape Pvt Ltd             NCD                CRISIL D       1260    Downgraded
                                                                                  from CRISIL
                                                                                  B+(SO)
Universal Power Products                CC                 CRISIL A+      160     Assigned
Varmora Furnitures Pvt Ltd              CC                 CRISIL BB      50      Reaffirmed
Varmora Furnitures Pvt Ltd              Proposed LT Bk     CRISIL BB      7       Reaffirmed
                                        Loan Fac
Varmora Furnitures Pvt Ltd              TL                 CRISIL BB      136.8   Reaffirmed
Varmora Homewares Pvt Ltd               CC                 CRISIL BB-     10      Reaffirmed
Varmora Homewares Pvt Ltd               Proposed LT Bk     CRISIL BB-     49.4    Reaffirmed
                                        Loan Fac
Varmora Homewares Pvt Ltd               TL                 CRISIL BB-     90.6    Reaffirmed
Varmora Plastech Pvt Ltd                CC                 CRISIL BB      130     Reaffirmed
Varmora Plastech Pvt Ltd                Proposed LT Bk     CRISIL BB      15.9    Reaffirmed
                                        Loan Fac
Varmora Plastech Pvt Ltd                TL                 CRISIL BB      151.7   Reaffirmed
Venkraft Paper Mills Pvt Ltd            CC                 CRISIL B       390     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Issuer Not Cooperating
Venkraft Paper Mills Pvt Ltd            LT Loan            CRISIL B       137     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Issuer Not Cooperating
Venkraft Paper Mills Pvt Ltd            Proposed LT Bk     CRISIL B       135.4   Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Issuer Not Cooperating
Venkraft Paper Mills Pvt Ltd            TL                 CRISIL B       28.4    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Issuer Not Cooperating
VGN Homes Pvt Ltd                       LT Loan            CRISIL B+      1460    Reaffirmed
Issuer Not Cooperating
VGN Homes Pvt Ltd                       Overdraft          CRISIL B+      140     Reaffirmed
Issuer Not Cooperating
VGN Homes Pvt Ltd                       Proposed LT Bk     CRISIL B+      140     Reaffirmed
                                        Loan Fac
Issuer Not Cooperating

--------------------------------------------------------------------------------------------
$: 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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