June 12, 2020 / 9:23 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Jun 12

    Jun 12  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of June 11, 2020.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Akay Natural Ingredients Pvt Ltd       BG                CRISIL A2     15     Reaffirmed
Akay Spices Pvt Ltd                    BG                CRISIL A3     13.8   Upgraded from
                                                                              CRISIL A4+
Akay Spices Pvt Ltd                    Packing Credit    CRISIL A3     220    Upgraded from
                                                                              CRISIL A4+
Automotive Manufacturers Pvt Ltd       BG                CRISIL A1     10     Reaffirmed
Cremica Food Industries Ltd            LOC               CRISIL A3+    100    Reaffirmed
Fab-Tech Works and Constructions       BG                CRISIL A3     405    Reaffirmed
Pvt Ltd
Futech Projects India Pvt Ltd          Clean Bill        CRISIL A4     10     Reaffirmed
                                       Discounting
Futech Projects India Pvt Ltd          LOC & BG          CRISIL A4     95     Reaffirmed
Harisun Ceramic Pvt Ltd                BG                CRISIL A4     12.5   Assigned
Hi-Tech Systems and Services Ltd       BG                CRISIL A2+    295    Reaffirmed
M S V Constructions Company            Proposed BG       CRISIL A4+    84.1   Assigned
M S V Constructions Company            BG                CRISIL A4+    125.1  Assigned
M. E. Energy Pvt Ltd                   BG                CRISIL A4     250    -
(Migrated from 'CRISIL A4+ Issuer Not Cooperating')
M. E. Energy Pvt Ltd                   LOC               CRISIL A4     35     -
(Migrated from 'CRISIL A4+ Issuer Not Cooperating')
Shree Shyamsunder Alloys Pvt Ltd       BG                CRISIL A4     15     Reaffirmed
Shriram Food Industry Pvt Ltd          Foreign           CRISIL A4+    95     Reaffirmed
                                       Discounting Bill
                                       Purchase
Shriram Food Industry Pvt Ltd          Packing Credit    CRISIL A4+    90     Reaffirmed
Tojo Vikas International Pvt Ltd       LOC & BG          CRISIL A3     160    Reaffirmed
Vaibhavlaxmi Spinning Mills Ltd        BG                CRISIL A2     24     Reaffirmed
Vaibhavlaxmi Spintex LLP               BG                CRISIL A2     16     Reaffirmed



LONG TERM RATINGS:
-------------------
Akay Natural Ingredients Pvt Ltd       Packing Credit    CRISIL        1000   Reaffirmed
                                                         BBB+/Positive
Akay Natural Ingredients Pvt Ltd       Proposed WC Fac   CRISIL        10     Reaffirmed
                                                         BBB+/Positive
Akay Spices Pvt Ltd                    LT Loan           CRISIL        133    Upgraded from
                                                         BBB-/Positive        CRISIL
                                                                              BB+/Positive
Automotive Manufacturers Pvt Ltd       CC                CRISIL A/     2550   Reaffirmed
                                                         Stable
Automotive Manufacturers Pvt Ltd       LT Loan           CRISIL A/     224    Reaffirmed
                                                         Stable
Automotive Manufacturers Pvt Ltd       Proposed LT Bk    CRISIL A/     636.6  Assigned
                                       Loan Fac          Stable
Bhilwara Rajsamand Tollway Pvt Ltd     TL                -             2750   Withdrawn
Bijapur Hungund Tollway Pvt Ltd        NCD               CRISIL A-     2500   -
(Revised to 'Rating Watch with Positive Implications' from 'Rating Watch with Developing
Implications') 
Bijapur Hungund Tollway Pvt Ltd        NCD               CRISIL A-     1450   -
(Revised to 'Rating Watch with Positive Implications' from 'Rating Watch with Developing
Implications') 
Bijapur Hungund Tollway Pvt Ltd        Proposed LT Bk    CRISIL        157.4  -
                                       Loan Fac          A-/Watch
                                                         Positive
(Revised to 'Rating Watch with Positive Implications' from 'Rating Watch with Developing
Implications') 
Bijapur Hungund Tollway Pvt Ltd        TL                CRISIL        4142.6 -
                                                         A-/Watch
                                                         Positive
(Revised to 'Rating Watch with Positive Implications' from 'Rating Watch with Developing
Implications') 
Cremica Food Industries Ltd            TL                CRISIL        50     Reaffirmed
                                                         BBB/Stable
(Outlook revised from 'Positive' and rating reaffirmed)
Cremica Food Industries Ltd            WC Demand Loan    CRISIL        100    Reaffirmed
                                                         BBB/Stable
(Outlook revised from 'Positive' and rating reaffirmed)
Cremica Food Industries Ltd            WC Fac            CRISIL        300    Reaffirmed
                                                         BBB/Stable
(Outlook revised from 'Positive' and rating reaffirmed)
Ess Kay Fincorp Ltd                    Proposed LT Bk    CRISIL A/     3150   Reaffirmed
                                       Loan Fac          Stable        
Ess Kay Fincorp Ltd                    TL                CRISIL A/     2850   Reaffirmed
                                                         Stable   
Ess Kay Fincorp Ltd                    NCD               CRISIL A/     850    Assigned
                                                         Stable    
Ess Kay Fincorp Ltd                    NCD               CRISIL A/     860    Reaffirmed
                                                         Stable    
Ess Kay Fincorp Ltd                    NCD               CRISIL A/     1000   Reaffirmed
                                                         Stable   
Ess Kay Fincorp Ltd                    NCD               CRISIL A/     1000   Reaffirmed
                                                         Stable
Ess Kay Fincorp Ltd                    NCD               CRISIL A/     1500   Reaffirmed
                                                         Stable  
Ess Kay Fincorp Ltd                    NCD               CRISIL A/     3000   Reaffirmed
                                                         Stable
Ess Kay Fincorp Ltd                    LT Principal      CRISIL PP-MLD 320    Reaffirmed
                                       Protected Market  Ar/Stable
                                       Linked Debentures
Ess Kay Fincorp Ltd                    LT Principal      CRISIL PP-MLD 500    Reaffirmed
                                       Protected Market  Ar/Stable
                                       Linked Debentures
Fab-Tech Works and Constructions Pvt   CC                CRISIL        20     Reaffirmed
Ltd                                                      BBB-/Stable
Fab-Tech Works and Constructions Pvt   Proposed LT Bk    CRISIL        25     Assigned
Ltd                                    Loan Fac          BBB-/Stable
Five-Star Business Finance Ltd         Acquirer Payout   CRISIL AA (SO)1000   -
(Converted from Provisional Rating to Final Rating)
Futech Projects India Pvt Ltd          Proposed LT Bk    CRISIL B-/    72.5   Reaffirmed
                                       Loan Fac          Stable  
Futech Projects India Pvt Ltd          Secured Overdraft CRISIL B-/    22.5   Reaffirmed
                                       Fac               Stable   
Harisun Ceramic Pvt Ltd                CC                CRISIL        30     Assigned
                                                         B+/Stable
Harisun Ceramic Pvt Ltd                Proposed LT Bk    CRISIL        17.5   Assigned
                                       Loan Fac          B+/Stable
Harisun Ceramic Pvt Ltd                TL                CRISIL        40     Assigned
                                                         B+/Stable
HCY Industrial Parks Pvt Ltd           Lease Rental      CRISIL        -      Withdrawn
                                       Discounting Loan  AA-/Stable
HCY Warehousing Pvt Ltd                LT Rating         CRISIL        -      Withdrawn
                                                         AA-/Stable
Hilltop Stones Pvt Ltd                 Proposed LT Bk    CRISIL        10     Assigned
                                       Loan Fac          BB/Stable
Hilltop Stones Pvt Ltd                 Standby LOC       CRISIL        140    Assigned
                                                         BB/Stable
Hi-Tech Systems and Services Ltd       CC                CRISIL        370    Reaffirmed
                                                         A-/Stable
Hi-Tech Systems and Services Ltd       Proposed FB Bk    CRISIL        130    Reaffirmed
                                       Limits            A-/Stable
Hi-Tech Systems and Services Ltd       TL                CRISIL        742.9  Reaffirmed
                                                         A-/Stable
IndoSpace AS Industrial Park Pvt Ltd   Lease Rental      -             1840   Withdrawn
                                       Discounting Loan
IndoSpace AS Industrial Park Pvt Ltd   TL                -             1800   Withdrawn
Indospace Bommasandra Logistics Park   Lease Rental      -             400    Withdrawn
Pvt Ltd                                Discounting Loan
IndoSpace FWS Industrial Park Pvt Ltd  LT Rating         CRISIL        -      Withdrawn
                                                         AA-/Stable
IndoSpace Industrial Parks Pvt Ltd     Lease Rental      CRISIL        -      Withdrawn
                                       Discounting Loan  AA-/Stable
IndoSpace SKCL Industrial Park OragadamLease Rental      CRISIL        -      Withdrawn
Pvt Ltd                                Discounting Loan  AA-/Stable
IndoSpace SKCL Industrial Park Pvt Ltd Lease Rental      CRISIL        -      Withdrawn
                                       Discounting Loan  AA-/Stable
M S V Constructions Company            Proposed OverdraftCRISIL        41     Assigned
                                       Fac               BB/Stable
M S V Constructions Company            Overdraft         CRISIL        99     Assigned
                                                         BB/Stable
M. E. Energy Pvt Ltd                   CC                CRISIL B/     l80     -
                                                         Stable
(Migrated from 'CRISIL BB-/Stable Issuer Not Cooperating')
M. E. Energy Pvt Ltd                   Foreign LOC       CRISIL B/     15     -
                                                         Stable
(Migrated from 'CRISIL BB-/Stable Issuer Not Cooperating')
Prolific Papers Pvt Ltd                CC                -             280    Withdrawn
(Migrated from 'CRISIL B+/Stable Issuer Not Cooperating '; Rating Withdrawn)
PTC India Financial Services Ltd       NCDs              Provisional   5800   -
                                                         CRISIL AA+
                                                         (CE) / Watch Developing
(Continues on Rating Watch with Developing Implications)
Rajshree Sugars and Chemicals Ltd      Proposed LT Bk    CRISIL D      1698.9 Reaffirmed
                                       Loan Fac
Rajshree Sugars and Chemicals Ltd      Rupee TL          CRISIL D      4114.5 Reaffirmed
Rajshree Sugars and Chemicals Ltd      WC TL             CRISIL D      626.6  Reaffirmed
Ruchi Malls Pvt Ltd                    Drop Line         CRISIL        2400   -
                                       Overdraft Fac     A+/Negative
(Removed from 'Rating Watch with Negative Implications'; Rating Reaffirmed)
Shree Shyamsunder Alloys Pvt Ltd       CC                CRISIL        22     Reaffirmed
                                                         B+/Stable
Shree Shyamsunder Alloys Pvt Ltd       TL                CRISIL        13     Reaffirmed
                                                         B+/Stable
Shriram Food Industry Pvt Ltd          CC                CRISIL        385    Reaffirmed
                                                         BB-/Stable
Shriram Food Industry Pvt Ltd          LT Loan           CRISIL        190    Reaffirmed
                                                         BB-/Stable
Soffia Ceramic                         CC                CRISIL        35     Reaffirmed
                                                         B+/Stable
Soffia Ceramic                         LT Loan           CRISIL        46     Reaffirmed
                                                         B+/Stable
Suyog Logistics Park Pvt Ltd           Lease Rental      -             280    Withdrawn
                                       Discounting Loan
Tojo Vikas International Pvt Ltd       CC                CRISIL        290    Reaffirmed
                                                         BBB-/Stable
Vaibhavlaxmi Exports Pvt Ltd           CC                CRISIL        245    Reaffirmed
                                                         BBB+/Stable
Vaibhavlaxmi Industries                CC                CRISIL        119.5  Reaffirmed
                                                         BBB+/Stable
Vaibhavlaxmi Spinning Mills Ltd        CC                CRISIL        115    Reaffirmed
                                                         BBB+/Stable
Vaibhavlaxmi Spinning Mills Ltd        Standby Line of   CRISIL        15     Reaffirmed
                                       Credit            BBB+/Stable
Vaibhavlaxmi Spinning Mills Ltd        TL                CRISIL        511    Reaffirmed
                                                         BBB+/Stable
Vaibhavlaxmi Spintex LLP               CC                CRISIL        165    Reaffirmed
                                                         BBB+/Stable
Vaibhavlaxmi Spintex LLP               LT Loan           CRISIL        717    Reaffirmed
                                                         BBB+/Stable
Vaibhavlaxmi Spintex LLP               Standby Line of   CRISIL        17     Reaffirmed
                                       Credit            BBB+/Stable
Vessel Warehousing Pvt Ltd             Lease Rental      -             950    Withdrawn
                                       Discounting Loan
Villa Oil Cake                         TL                CRISIL        11.3   Assigned
                                                         BB-/Stable
Villa Oil Cake                         CC                CRISIL        75     Assigned
                                                         BB-/Stable
Villa Oil Cake                         Proposed LT Bk    CRISIL        8.7    Assigned
                                       Loan Fac          BB-/Stable

--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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