February 9, 2017 / 4:22 AM / 10 months ago

CRISIL ratings for Indian debt instruments-Feb 9

    Feb 9 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of February 8, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Anand Electricals                       LOC                CRISIL A4      20      Assigned
Anand Electricals                       BG                 CRISIL A4      10      Assigned
Big Bags International Pvt Ltd          LOC                CRISIL A3+     400     Reaffirmed
Big Bags International Pvt Ltd          Packing Credit     CRISIL A3+     450     Reaffirmed
Creative Polypack Ltd                   BG                 CRISIL A2+     20      Reaffirmed
Creative Polypack Ltd                   Overdraft          CRISIL A2+     30      Reaffirmed
Family Health Plan Insurance TPA Ltd    BG                 CRISIL A2+     160     Upgraded from
                                                                                  CRISIL A2
G. V Pratap Reddy                       LOC & BG           CRISIL A4      40      Reaffirmed
Holostik India Ltd                      BG                 CRISIL A1      50      Reaffirmed
Holostik India Ltd                      LOC                CRISIL A1      100     Reaffirmed
Holostik India Ltd                      Proposed NFBL      CRISIL A1      3       Reaffirmed
Home Fit Exports                        Packing Credit     CRISIL A4+     125     Reaffirmed
Home Fit Exports                        Proposed NFBL      CRISIL A4+     6       Reaffirmed
Johnson Controls-Hitachi Air            LOC & BG*          CRISIL A1+     1500    Reaffirmed
Conditioning India Ltd
* Bank guarantee is fully interchangeable with letter of credit
Johnson Controls-Hitachi Air            ST Debt (Including CRISIL A1+     600     Reaffirmed
Conditioning India Ltd                  CP)
KGPS Mechanical Pvt Ltd                 BG                 CRISIL A4      25      Assigned
NJA Industries Pvt Ltd                  BG                 CRISIL A4+     50      Reaffirmed
NJA Industries Pvt Ltd                  LOC                CRISIL A4+     44      Reaffirmed
Praj Industries Ltd                     LOC & BG*          CRISIL A1+     4000    Reaffirmed
*interchangeable between bank guarantee and letter of credit
Prestige Feed Mills Ltd                 BG                 CRISIL A3      5       Reaffirmed
Prestige Feed Mills Ltd                 LOC                CRISIL A3      47      Reaffirmed
Rallis India Ltd                        CP                 CRISIL A1+     750     Reaffirmed
Rallis India Ltd                        LOC#               CRISIL A1+     1795    Reaffirmed
# interchangeable with other non-fund based facilities

Rural Electrification Corporation Ltd   ST Debt Programme^@CRISIL A1+     70000   Reaffirmed

(Enhanced from 2000 Crore); ^ Borrowing programme for 2016-17 (refers to financial year, April 1
to March 31). The overall limit for the long-term borrowing programme and the short-term
borrowing programme is Rs.42000.0 crore.; @ Short-term bank borrowing including bank guarantees;
total short-term bank borrowing and borrowing under the rated short-term debt programme not to
exceed Rs.7000.0 crore at any point during 2016-17.

Rural Electrification Corporation Ltd   ST Debt Programme  CRISIL A1+     150000  Reaffirmed
Rural Electrification Corporation Ltd   ST Debt Programme  CRISIL A1+     100000  Withdrawal
Rural Electrification Corporation Ltd   ST Debt Programme  CRISIL A1+     25000   Withdrawal
Salasar Alloy and Steel Industries Pvt  LOC                CRISIL A4+     51.5    Reaffirmed
Ltd
Stolt Rail Logistic Systems Ltd         BG                 CRISIL A4      20      Reaffirmed
Stolt Rail Logistic Systems Ltd         Overdraft          CRISIL A4      10      Reaffirmed
Stolt Rail Logistic Systems Ltd         ST Loan            CRISIL A4      40      Assigned
Vishal Surgical Equipment Company Pvt   BG                 CRISIL A4+     80      Reaffirmed
Ltd
Vishal Surgical Equipment Company Pvt   LOC                CRISIL A4+     20      Reaffirmed
Ltd

LONG TERM RATINGS:
-------------------
ACE Autocars Pvt Ltd                    Electronic Dealer  CRISIL B-      80      Downgraded
                                        Financing                                 from CRISIL B+
                                        Scheme(e-DFS)
ACE Autocars Pvt Ltd                    Proposed FB Bk     CRISIL B-      20      Assigned
                                        Limits
Anand Electricals                       Proposed LT Bk     CRISIL B       100     Assigned
                                        Loan Fac
Anand Electricals                       CC                 CRISIL B       20      Assigned
Big Bags International Pvt Ltd          Foreign Bill       CRISIL BBB     550     Reaffirmed
                                        Purchase
Big Bags International Pvt Ltd          Proposed LT Bk     CRISIL BBB     196.8   Reaffirmed
                                        Loan Fac
Big Bags International Pvt Ltd          TL                 CRISIL BBB     280.5   Reaffirmed
Creative Polypack Ltd                   CC                 CRISIL A-      150     Reaffirmed
Creative Polypack Ltd                   TL                 CRISIL A-      100     Assigned
Family Health Plan Insurance TPA Ltd    CC                 CRISIL A-      75      Upgraded from
                                                                                  CRISIL BBB+
Family Health Plan Insurance TPA Ltd    Proposed LT Bk     CRISIL A-      35      Upgraded from
                                        Loan Fac                                  CRISIL BBB+
G. V Pratap Reddy                       CC                 CRISIL B+      20      Reaffirmed
G. V Pratap Reddy                       Proposed LT Bk     CRISIL B+      40      Reaffirmed
                                        Loan Fac
Holostik India Ltd                      CC                 CRISIL A       350     Reaffirmed
Holostik India Ltd                      Corporate Loan     CRISIL A       25.1    Reaffirmed
Holostik India Ltd                      LT Bk Fac          CRISIL A       109.8   Reaffirmed
Holostik India Ltd                      Proposed CC Limit  CRISIL A       112.1   Reaffirmed
Holostik India Ltd                      Proposed LT Bk     CRISIL A       150     Reaffirmed
                                        Loan Fac
Home Fit Exports                        Bill Discounting   CRISIL BB      95      Reaffirmed
Home Fit Exports                        Credit Limit Under CRISIL BB      44      Reaffirmed
                                        Gold Card
J. P. Rice Mills - Fatehabad            CC                 CRISIL B+      80      Assigned
J. P. Rice Mills - Fatehabad            Proposed LT Bk     CRISIL B+      20      Assigned
                                        Loan Fac
Jadwet Resorts and Leisure Pvt Ltd      LT Loan            CRISIL B       100     Reaffirmed
Johnson Controls-Hitachi Air            CC                 CRISIL AA-     1000    Reaffirmed
Conditioning India Ltd
KGPS Mechanical Pvt Ltd                 Proposed LT Bk     CRISIL B       22.6    Assigned
                                        Loan Fac
KGPS Mechanical Pvt Ltd                 CC                 CRISIL B       52.4    Assigned

NJA Industries Pvt Ltd                  CC                 CRISIL BB-     85      Reaffirmed
NJA Industries Pvt Ltd                  Proposed LT Bk     CRISIL BB-     12      Reaffirmed
                                        Loan Fac
NJA Industries Pvt Ltd                  TL                 CRISIL BB-     9       Reaffirmed
Parinee Shelters Pvt Ltd                NCDs               CRISIL D       810     Downgraded
                                                                                  from CRISIL
                                                                                  BB- (SO)
Praj Industries Ltd                     CC                 CRISIL AA      150     Reaffirmed
Prestige Feed Mills Ltd                 CC                 CRISIL BBB-    650     Reaffirmed
Prestige Feed Mills Ltd                 Proposed LT Bk     CRISIL BBB-    19      Reaffirmed
                                        Loan Fac
R.S.G. Exports Pvt Ltd                  CC                 CRISIL BB-     200     Reaffirmed
R.S.G. Exports Pvt Ltd                  TL                 CRISIL BB-     200     Assigned
Rallis India Ltd                        CC*                CRISIL AA      1305    Reaffirmed
*interchangeable with other fund-based facilities
Rallis India Ltd                        Proposed LT Bk     CRISIL AA      318.7   Reaffirmed
                                        Loan Fac
Rallis India Ltd                        TL                 CRISIL AA      181.3   Assigned
Rheoplast Technology Pvt Ltd            CC                 CRISIL B       70      Downgraded
                                                                                  from CRISIL B+
Rheoplast Technology Pvt Ltd            Foreign LOC        CRISIL B       20      Downgraded
                                                                                  from CRISIL B+
Rural Electrification Corporation Ltd   LT Borrowing       CRISIL AAA     350000  Reaffirmed
                                        Programme^#
(Enhanced from 20000 crore); ^ Borrowing programme for 2016-17 (refers to financial year, April
1 to March 31). The overall limit for the long-term borrowing programme and the short-term
borrowing programme is Rs.42000.0 crore.; # Total incremental long-term bank borrowing and
borrowings under the rated long-term bonds programme not to exceed Rs.35000.0 crore any point in
time during 2016-17. The long-term borrowing programme includes tax-free bonds under Section 10
of the Income Tax Act 1961 and lower Tier II bonds. 

Rural Electrification Corporation Ltd   LT Borrowing       CRISIL AAA   1401327.3 Reaffirmed
                                        Programme
Rural Electrification Corporation Ltd   Lower Tier-II      CRISIL AAA     50000   Withdrawal
                                        Bonds
Rural Electrification Corporation Ltd   Bond Programme     CRISIL AAA     506000  Withdrawal
Rural Electrification Corporation Ltd   NCDs Programme     CRISIL AAA     90000   Withdrawal
Rural Electrification Corporation Ltd   Tax-Free Bond      CRISIL AAA     2250    Withdrawal
                                        Programme
Rural Electrification Corporation Ltd   TB Programme       CRISIL AAA     2750    Withdrawal
Salasar Alloy and Steel Industries Pvt  CC                 CRISIL BB      98.5    Reaffirmed
Ltd
Sarda Dairy & Food Products Ltd         CC                 CRISIL BB-     40      Reaffirmed
Sarda Dairy & Food Products Ltd         TL                 CRISIL BB-     941.2   Reaffirmed
Stolt Rail Logistic Systems Ltd         Proposed LT Bk     CRISIL B+      92.5    Reaffirmed
                                        Loan Fac
Stolt Rail Logistic Systems Ltd         Proposed Overdraft CRISIL B+      20      Assigned
                                        Fac
Unijules Life Sciences Ltd              BG                 CRISIL D       65      Reaffirmed;
                                                                                  Issuer Not
                                                                                  Cooperating
Unijules Life Sciences Ltd              CC                 CRISIL D       1245    Reaffirmed;
                                                                                  Issuer Not
                                                                                  Cooperating
Unijules Life Sciences Ltd              LOC                CRISIL D       57.5    Reaffirmed;
                                                                                  Issuer Not
                                                                                  Cooperating
Unijules Life Sciences Ltd              LOC & BG           CRISIL D       127.5   Reaffirmed;
                                                                                  Issuer Not
                                                                                  Cooperating
Unijules Life Sciences Ltd              TL                 CRISIL D       615     Reaffirmed;
                                                                                  Issuer Not
                                                                                  Cooperating
Vishal Surgical Equipment Company Pvt   Overdraft          CRISIL BB      50      Reaffirmed
Ltd
 
--------------------------------------------------------------------------------------------
$: 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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