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CRISIL ratings for Indian debt instruments-Jul 17
July 17, 2017 / 5:24 AM / 5 months ago

CRISIL ratings for Indian debt instruments-Jul 17

    Jul 17 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of July 14, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Alembic Pharmaceuticals Ltd             ST Debt (Including CRISIL A1+     2000    Reaffirmed
                                        CP)
Anup Malleables Ltd                     BG                 CRISIL A4      30      Reaffirmed
B. M. Constructions                     BG                 CRISIL A4+     200     Reaffirmed
Britannia Industries Ltd                BG                 CRISIL A1+     320     Reaffirmed
Britannia Industries Ltd                Buyers Finance     CRISIL A1+     21      Reaffirmed
Britannia Industries Ltd                LOC@               CRISIL A1+     970     Reaffirmed
@Interchangeable with bank guarantee
Britannia Industries Ltd                Overdraft          CRISIL A1+     675     Reaffirmed
Britannia Industries Ltd                Proposed Packing   CRISIL A1+     750     Reaffirmed
                                        Credit
Britannia Industries Ltd                Proposed ST Bk     CRISIL A1+     339     Reaffirmed
                                        Loan Fac
E.I.D. Parry India Ltd                  BG^                CRISIL A1+     3110    Reaffirmed
^Interchangeable with letter of credit and fund based working capital limits.
E.I.D. Parry India Ltd                  LOC*               CRISIL A1+     500     Reaffirmed
*Interchangeable with bank guarantee and fund based working capital limits.  
E.I.D. Parry India Ltd                  Proposed BG        CRISIL A1+     2776    Reaffirmed
Empowertrans Pvt Ltd                    BG                 CRISIL A4+     500     Reaffirmed
G.C. Chemie Pharmie Ltd                 LOC*               CRISIL A2      286     Reaffirmed
*Interchangeable with buyer's credit
Home Flooring And Decor Pvt Ltd         Bill Purchase      CRISIL A4      147.5   Reaffirmed
Hy-Gro Chemicals Pharmtek Pvt Ltd       BG                 CRISIL A3+     10      Reaffirmed
Hy-Gro Chemicals Pharmtek Pvt Ltd       Foreign Bill       CRISIL A3+     40      Reaffirmed
                                        Discounting
Hy-Gro Chemicals Pharmtek Pvt Ltd       LOC                CRISIL A3+     100     Reaffirmed
Hy-Gro Chemicals Pharmtek Pvt Ltd       Packing Credit     CRISIL A3+     30      Reaffirmed
Indo-National Ltd                       Bill Pur-Dis Fac   CRISIL A1      230     Reaffirmed
Indo-National Ltd                       Proposed ST Bk     CRISIL A1      1.8     Reaffirmed
                                        Loan Fac
Jai Vardhman Khaniz Pvt Ltd             Export Packing     CRISIL A3      30.4    Upgraded from
                                        Credit                                    CRISIL A4+
Jai Vardhman Khaniz Pvt Ltd             Foreign Bill       CRISIL A3      15      Upgraded from
                                        Discounting                               CRISIL A4+
Leayan Global Pvt Ltd                   BG@                CRISIL A2      5       Reaffirmed
@interchangeable both way between letter of credit and bank guarantee 
Leayan Global Pvt Ltd                   Foreign Bill       CRISIL A2      75      Reaffirmed
                                        Purchase
Leayan Global Pvt Ltd                   Foreign Exchange   CRISIL A2      7.5     Reaffirmed
                                        Forward
Leayan Global Pvt Ltd                   LOC@               CRISIL A2      50      Reaffirmed
@interchangeable both way between letter of credit and bank guarantee 
Leben Laboratories Pvt Ltd              LOC                CRISIL A4+     7.5     Downgraded
                                                                                  from CRISIL A3
(Issuer Not Cooperating)
Leben Laboratories Pvt Ltd              Packing Credit     CRISIL A4+     57.5    Downgraded
                                                                                  from CRISIL A3
(Issuer Not Cooperating)
Mythri Infra                            Inland Guarantees  CRISIL A4+     310     Reaffirmed
Nitin Castings Ltd                      LOC & BG           CRISIL A3      106     Reaffirmed
Popatlal Nathalal Shah                  Packing Credit     CRISIL A3      250     Assigned
Popatlal Nathalal Shah                  Post Shipment      CRISIL A3      550     Assigned
                                        Credit
Precision Electronic Instruments CompanyBG                 CRISIL A4      5       Assigned
Puri Construction Pvt Ltd               BG                 CRISIL A4      866.4   Downgraded
                                                                                  from CRISIL A3
RKEC Projects Ltd                       BG                 CRISIL A4+     1200    Reaffirmed
Sakthi Exports                          Packing Credit     CRISIL A4      97.5    Assigned
Shankara Building Products Ltd          Cash Management    CRISIL A2+     40      Reaffirmed
                                        Service
Shankara Building Products Ltd          Foreign Exchange   CRISIL A2+     20      Reaffirmed
                                        Forward
Sicagen India Ltd                       BG                 CRISIL A3      80      Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Sicagen India Ltd                       Channel Financing  CRISIL A3      320     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Sikkim Organics                         BG                 CRISIL A4      30.9    Downgraded
                                                                                  from CRISIL
                                                                                  A4+
(Issuer Not Cooperating)
Sri Luxmi Tulasi Agro Paper Pvt Ltd     BG                 CRISIL A3+     10      Reaffirmed
Sri Luxmi Tulasi Agro Paper Pvt Ltd     LOC                CRISIL A3+     180     Reaffirmed
Suraj Pulses                            BG                 CRISIL A4      30      Reaffirmed
TCP Ltd                                 BG                 CRISIL A2      42.6    Reaffirmed
TCP Ltd                                 LOC                CRISIL A2      1122    Reaffirmed
Theon Pharmaceuticals Ltd               Bill Discounting   CRISIL A2      75      Reaffirmed
                                        under LOC
(Issuer Not Cooperating)
Theon Pharmaceuticals Ltd               LOC                CRISIL A2      70      Reaffirmed
(Issuer Not Cooperating)
Wearresist Technologies Pvt Ltd         BG                 CRISIL A4+     20      Reaffirmed

Wearresist Technologies Pvt Ltd         LOC                CRISIL A4+     15      Reaffirmed

LONG TERM RATINGS:
-------------------
A. K. Ahamed Modern Rice Mill           CC                 CRISIL B+      120     Assigned
Alembic Pharmaceuticals Ltd             CC & WC demand     CRISIL AA+     3150    Upgraded from
                                        loan**                                    CRISIL BB
**100% interchangeable between funded & non funded & Vice versa
Anup Malleables Ltd                     CC                 CRISIL B+      60      Reaffirmed
Anup Malleables Ltd                     TL                 CRISIL B+      53.6    Reaffirmed
Arka Carbon Fuels Pvt Ltd               CC                 CRISIL D       90      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Arka Carbon Fuels Pvt Ltd               LOC                CRISIL D       1000    Downgraded
                                                                                  from CRISIL A3
Arka Carbon Fuels Pvt Ltd               Overdraft          CRISIL D       10      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Ashirbad Agro Products Pvt Ltd          TL                 CRISIL BB-     20      Assigned
Ashirbad Agro Products Pvt Ltd          Proposed TL        CRISIL BB-     70      Assigned
Ashirbad Agro Products Pvt Ltd          CC                 CRISIL BB-     40      Assigned
Ashirbad Agro Products Pvt Ltd          Proposed CC Limit  CRISIL BB-     50      Assigned
Atlas Dye - Chem India Pvt Ltd          CC                 CRISIL BB+     100     Upgraded from
                                                                                  CRISIL BB
Atlas Dye - Chem India Pvt Ltd          Proposed LT Bk     CRISIL BB+     2.1     Upgraded from
                                        Loan Fac                                  CRISIL BB
Atlas Dye - Chem India Pvt Ltd          TL                 CRISIL BB+     60      Upgraded from
                                                                                  CRISIL BB
B. M. Constructions                     CC                 CRISIL BB+     100     Reaffirmed
Balajee Loha Ltd                        CC                 CRISIL BB      100     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
Balajee Structurals (India) Ltd         CC                 CRISIL BB      200     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
Bokahola Tea Co Pvt Ltd                 CC                 CRISIL BB-     220     Reaffirmed
(Issuer Not Cooperating)
Bokahola Tea Co Pvt Ltd                 Proposed LT Bk     CRISIL BB-     30      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Brindavan Bottlers Pvt Ltd              Proposed FB Bk     CRISIL BBB+    10.5    Assigned
                                        Limits
Brindavan Bottlers Pvt Ltd              CC                 CRISIL BBB+    400     Assigned
Brindavan Bottlers Pvt Ltd              LT Loan            CRISIL BBB+    439.5   Assigned
Britannia Industries Ltd                CC**               CRISIL AAA     625     Reaffirmed
**Interchangeable with working capital demand loan and overdraft.
Britannia Industries Ltd                Proposed FB Bk     CRISIL AAA     100     Reaffirmed
                                        Limits
Britannia Industries Ltd                Proposed LT Bk     CRISIL AAA     200     Reaffirmed
                                        Loan Fac##
##Unallocated limits.
Britannia Industries Ltd                WC Demand Loan^    CRISIL AAA     1000    Reaffirmed
^Interchangeable with overdraft or cash credit.
Chatterjee Cleaning Arts Services Pvt   CC                 CRISIL BB-     75      Downgraded
Ltd                                                                               from CRISIL BB
(Issuer Not Cooperating)
Chatterjee Cleaning Arts Services Pvt   Proposed LT Bk     CRISIL BB-     10      Downgraded
Ltd                                     Loan Fac                                  from CRISIL BB
(Issuer Not Cooperating)
E.I.D. Parry India Ltd                  CC#                CRISIL AA-     4510    Reaffirmed
# 50% interchangeable to non-fund based working capital limits.  
E.I.D. Parry India Ltd                  LT Loan            CRISIL AA-     5470    Reaffirmed
E.I.D. Parry India Ltd                  Proposed LT Bk     CRISIL AA-     3186    Reaffirmed
                                        Loan Fac
Empowertrans Pvt Ltd                    CC                 CRISIL BB-     200     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
(Issuer Not Cooperating)
Empowertrans Pvt Ltd                    Proposed LT Bk     CRISIL BB-     700     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
(Issuer Not Cooperating)
G.C. Chemie Pharmie Ltd                 CC                 CRISIL BBB+    65      Reaffirmed
G.C. Chemie Pharmie Ltd                 Proposed CC Limit  CRISIL BBB+    12      Reaffirmed
Haresh Agencies                         CC                 CRISIL BBB     280     Assigned
Haresh Agencies                         Proposed LT Bk     CRISIL BBB     70      Assigned
                                        Loan Fac
Home Flooring And Decor Pvt Ltd         Export Packing     CRISIL B+      100     Reaffirmed
                                        Credit
Home Flooring And Decor Pvt Ltd         Proposed LT Bk     CRISIL B+      2.5     Reaffirmed
                                        Loan Fac
Hy-Gro Chemicals Pharmtek Pvt Ltd       CC                 CRISIL BBB     30      Reaffirmed
Hy-Gro Chemicals Pharmtek Pvt Ltd       LT Loan            CRISIL BBB     80      Reaffirmed
Hy-Gro Chemicals Pharmtek Pvt Ltd       Proposed LT Bk     CRISIL BBB     50      Reaffirmed
                                        Loan Fac
ICICI Lombard General Insurance Co. Ltd Subordinated Debt  CRISIL AAA     4850    Reaffirmed
Indo-National Ltd                       CC*                CRISIL A       135     Reaffirmed
 *Interchangeable with short term loan up to Rs.7.5 Cr
Intec Capital Ltd                       Proposed LT Bk     CRISIL BB      500     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
Jai Vardhman Khaniz Pvt Ltd             CC                 CRISIL BBB-    40      Upgraded from
                                                                                  CRISIL BB+
JDS Foundation                          Proposed LT Bk     CRISIL B       122.5   Reaffirmed
                                        Loan Fac
JDS Foundation                          TL                 CRISIL B       2.5     Reaffirmed
Joyalukkas India Pvt Ltd                WC Demand Loan     CRISIL A       10850   Upgraded from
                                                                                  CRISIL A-
Joyalukkas Lifestyle Developers Pvt Ltd CC                 CRISIL BBB-    500     Reaffirmed
Leayan Global Pvt Ltd                   CC$                CRISIL BBB+    320     Reaffirmed
Leayan Global Pvt Ltd                   Export Packing     CRISIL BBB+    110     Reaffirmed
                                        Credit
Leayan Global Pvt Ltd                   TL                 CRISIL BBB+    50      Reaffirmed
Leayan Global Pvt Ltd                   Proposed LT Bk     CRISIL BBB+    32.5    Reaffirmed
                                        Loan Fac
Leben Laboratories Pvt Ltd              Proposed LT Bk     CRISIL BB+     25      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
M/s. S.N. Mohanty                       LT Loan            CRISIL BBB     27.7    Downgraded
                                                                                  from CRISIL A-
(Issuer Not Cooperating)
M/s. S.N. Mohanty                       Proposed LT Bk     CRISIL BBB     68.3    Downgraded
                                        Loan Fac                                  from CRISIL A-
(Issuer Not Cooperating)
Midday Infomedia Ltd                    CC                 CRISIL AA-     150     Reaffirmed
Midday Infomedia Ltd                    Proposed LT Bk     CRISIL AA-     50      Reaffirmed
                                        Loan Fac
Music Broadcast Ltd                     NCD                CRISIL AA      2000    Reaffirmed
Mythri Infra                            CC                 CRISIL BB+     240     Upgraded from
                                                                                  CRISIL BB-
Nitin Castings Ltd                      CC                 CRISIL BBB-    134     Reaffirmed
Nitin Castings Ltd                      TL                 CRISIL BBB-    83.4    Reaffirmed
Om Shiv Foods                           CC                 CRISIL B       120     Assigned
Om Shiv Foods                           TL                 CRISIL B       120     Assigned
Omvishkar Exports                       Export Packing     CRISIL BB-     120     Reaffirmed
                                        Credit
Omvishkar Exports                       Proposed WC Fac    CRISIL BB-     30      Reaffirmed
Patil Automation Pvt Ltd                Proposed LT Bk     CRISIL BB-     114.5   Reaffirmed
                                        Loan Fac
Popatlal Nathalal Shah                  Packing Credit     CRISIL BBB-    21      Assigned
Popatlal Nathalal Shah                  Post Shipment      CRISIL BBB-    49      Assigned
                                        Credit
Precision Electronic Instruments CompanyProposed LT Bk     CRISIL B+      15.5    Assigned
                                        Loan Fac
Precision Electronic Instruments CompanyLT Loan            CRISIL B+      4.5     Assigned
Precision Electronic Instruments CompanyForeign Bill       CRISIL B+      2.5     Assigned
                                        Discounting
Precision Electronic Instruments CompanyCC                 CRISIL B+      52.5    Assigned
Puri Construction Pvt Ltd               LT Loan            CRISIL B+      750     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Puri Construction Pvt Ltd               Proposed LT Bk     CRISIL B+      883.6   Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
RKEC Projects Ltd                       CC                 CRISIL BB+     150     Reaffirmed
Sahil Packaging                         CC                 CRISIL D       35      Downgraded
                                                                                  from CRISIL B
Sahil Packaging                         Proposed CC Limit  CRISIL D       35      Downgraded
                                                                                  from CRISIL B
Sahil Packaging                         TL                 CRISIL D       80      Downgraded
                                                                                  from CRISIL B
Shankara Building Products Ltd          Bill Discounting   CRISIL A-      450     Reaffirmed
Shankara Building Products Ltd          CC                 CRISIL A-      2150    Reaffirmed
Shankara Building Products Ltd          TL                 CRISIL A-      80      Reaffirmed
Shree Hanuman Loha Ltd                  CC                 CRISIL BB      100     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
Sicagen India Ltd                       CC                 CRISIL BBB-    370     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Sicagen India Ltd                       Proposed LT Bk     CRISIL BBB-    130     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB
Sikkim Organics                         CC                 CRISIL B+      120     Downgraded
                                                                                  from CRISIL B+
(Issuer Not Cooperating)
Sri Luxmi Tulasi Agro Paper Pvt Ltd     CC                 CRISIL BBB     315     Reaffirmed
Sri Luxmi Tulasi Agro Paper Pvt Ltd     LT Loan            CRISIL BBB     300.4   Reaffirmed
Sri Luxmi Tulasi Agro Paper Pvt Ltd     Proposed CC Limit  CRISIL BBB     90      Reaffirmed
Sri Luxmi Tulasi Agro Paper Pvt Ltd     Proposed LT Bk     CRISIL BBB     117.1   Reaffirmed
                                        Loan Fac
Sri Sai Krishna Raw & Boiled Rice Mill  CC                 CRISIL BB-     200     Assigned
Suraj Pulses                            CC                 CRISIL B+      120     Reaffirmed
Suraj Pulses                            Proposed LT Bk     CRISIL B+      10      Reaffirmed
                                        Loan Fac
Swastik Coal Corporation Pvt Ltd        Bill Discounting   CRISIL D       98.5    Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Swastik Coal Corporation Pvt Ltd        CC                 CRISIL D       150     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Swastik Coal Corporation Pvt Ltd        LOC                CRISIL D       2520    Downgraded
                                                                                  from CRISIL A3
Swastik Coal Corporation Pvt Ltd        Overdraft          CRISIL D       181.5   Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
TCP Ltd                                 CC                 CRISIL BBB+    712.2   Reaffirmed
TCP Ltd                                 Proposed LT Bk     CRISIL BBB+    533.2   Reaffirmed
                                        Loan Fac
Theon Pharmaceuticals Ltd               CC                 CRISIL BBB+    280     Reaffirmed
(Issuer Not Cooperating)
Theon Pharmaceuticals Ltd               Proposed TL        CRISIL BBB+    57      Reaffirmed
(Issuer Not Cooperating)
Theon Pharmaceuticals Ltd               TL                 CRISIL BBB+    168     Reaffirmed
(Issuer Not Cooperating)
Vinayak Corporation - Varanasi          CC                 CRISIL BB      70      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Vishesh Diagnostics Pvt Ltd             Corporate Loan     CRISIL BBB-    18.8    Reaffirmed
Vishesh Diagnostics Pvt Ltd             LT Loan            CRISIL BBB-    227.5   Reaffirmed
Vision Freight Solutions India Pvt Ltd  BG                 CRISIL D       5       Downgraded
                                                                                  from CRISIL BB
Vision Freight Solutions India Pvt Ltd  CC                 CRISIL D       95      Downgraded
                                                                                  from CRISIL BB
Vision Freight Solutions India Pvt Ltd  Standby Line of    CRISIL D       10      Assigned
                                        Credit
Vision Freight Solutions India Pvt Ltd  Proposed CC Limit  CRISIL D       20.8    Assigned
Vision Freight Solutions India Pvt Ltd  LT Loan            CRISIL D       24.2    Assigned
Wearresist Technologies Pvt Ltd         CC                 CRISIL BB+     95      Reaffirmed
Wearresist Technologies Pvt Ltd         Proposed LT Bk     CRISIL BB+     66.5    Reaffirmed
                                        Loan Fac
Wearresist Technologies Pvt Ltd         TL                 CRISIL BB+     3.5     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)

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