April 17, 2018 / 4:06 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Apr 17

    Apr 17 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 16, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A. F. Cashews                           Packing Credit     CRISIL A4      15      Assigned
Baddi Foils Pvt Ltd                     LOC                CRISIL A4+     100     Assigned
BNP Paribas Global Securities           BG                 CRISIL A1+     2       Reaffirmed
Operations Pvt Ltd
Chandi Enterprises                      BG                 CRISIL A4      25      Assigned
Deepak and Company Infra Pvt Ltd        BG                 CRISIL A4+     14      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Dhall Enterprises and Engineers Pvt Ltd BG                 CRISIL A4+     30      Reaffirmed
Dhall Enterprises and Engineers Pvt Ltd Inland/Import LOC  CRISIL A4+     260     Reaffirmed
Dhall Exports                           BG                 CRISIL A4+     50      Reaffirmed
Dhall Exports                           Inland/Import LOC  CRISIL A4+     5       Reaffirmed
ITFT Consultancy Pvt Ltd                Overdraft          CRISIL A4      115     Reaffirmed
ITFT Consultancy Pvt Ltd                Proposed ST Bk     CRISIL A4      30      Reaffirmed
                                        Loan Fac
Jabalpur Transmission Co. Ltd           ST Loan            CRISIL A1+     4230    Assigned
Jehan Numa Palace Hotel Pvt Ltd         Overdraft          CRISIL A2      46      Reassigned
Jupiter Alloys and Steel India Ltd      BG                 CRISIL A2      145
Upgraded from 'CRISIL A3+'
Jupiter Alloys and Steel India Ltd      LOC                CRISIL A2      25
Upgraded from 'CRISIL A3+'
Jupiter Wagons Ltd                      BG                 CRISIL A2      390
Upgraded from 'CRISIL A3+'
Jupiter Wagons Ltd                      LOC                CRISIL A2      320
Upgraded from 'CRISIL A3+'
Jupiter Wagons Ltd                      Proposed ST Bk     CRISIL A2      10      Assigned
                                        Loan Fac
Upgraded from 'CRISIL A3+'
Lala Harbhagwan Dass Memorial and Dr.   BG                 CRISIL A4+     10      Reaffirmed
Prem Hospital Pvt Ltd
Lambodhara Textiles Ltd                 BG                 CRISIL A4+     8
Rating reaffirmed and Withdrawn
Lambodhara Textiles Ltd                 CC                 CRISIL A4+     235
Rating reaffirmed and Withdrawn
Lambodhara Textiles Ltd                 LOC                CRISIL A4+     15
Rating reaffirmed and Withdrawn
Lambodhara Textiles Ltd                 LT Loan            CRISIL A4+     372
Rating reaffirmed and Withdrawn
Mirza International Ltd                 BG                 CRISIL A1      5       Reaffirmed
Mirza International Ltd                 Bill Discounting   CRISIL A1      1900    Reaffirmed
Mirza International Ltd                 LOC                CRISIL A1      200     Reaffirmed
Mirza International Ltd                 Packing Credit     CRISIL A1      1200    Reaffirmed
Mirza International Ltd                 CP                 CRISIL A1      500     Assigned
Nandu Chemicals Pvt Ltd                 Overdraft          CRISIL A4      33      Reaffirmed
Nitta Gelatin India Ltd                 Bill Purchase-     CRISIL A2+     390     Reaffirmed
                                        Discounting Fac
Nitta Gelatin India Ltd                 LOC & BG           CRISIL A2+     39.1    Reaffirmed
Nitta Gelatin India Ltd                 Line of Credit     CRISIL A2+     64      Reaffirmed
Nitta Gelatin India Ltd                 Packing Credit     CRISIL A2+     319     Reaffirmed
NTPC Ltd                                BG                 CRISIL A1+     19900   Reaffirmed
NTPC Ltd                                LOC                CRISIL A1+     30100   Reaffirmed
NTPC Ltd                                Proposed BG        CRISIL A1+     10000   Reaffirmed
NTPC Ltd                                CP                 CRISIL A1+     80000   Reaffirmed
P. Rajesh and Co.                       Export Bill        CRISIL A4      4.54    Reaffirmed
                                        Purchase -
                                        Discounting
P. Rajesh and Co.                       Packing Credit     CRISIL A4      10.46   Reaffirmed
Paruthi Engineers Pvt Ltd               BG                 CRISIL A4+     85
Issuer Not Cooperating; Migrated from 'CRISIL A3'
Platinum Polymers Pvt Ltd               LOC                CRISIL A4+     7.5     Assigned
Prasad and Company (Project Works) Ltd  BG*                CRISIL A4+     3130
Upgraded from 'CRISIL A4' ; *Includes Rs 30 crore interchangeable with letter of credit
Prasad and Company (Project Works) Ltd  BG                 CRISIL A4+     2750
Upgraded from 'CRISIL A4'
R S B Cottex Ltd                        Foreign Exchange   CRISIL A3      2.6     Assigned
                                        Forward
R S B Cottex Ltd                        BG#                CRISIL A3      50      Assigned
#Letter of Credit facility of Rs.3 crore as a sub-limit of Bank Guarantee facility
Rambaran Singh Apex Pvt Ltd             Proposed BG        CRISIL A4+     65      Assigned
Rambaran Singh Apex Pvt Ltd             BG                 CRISIL A4+     35      Assigned
Reliance Industries Ltd                 ST Debt            CRISIL A1+     45000   Reaffirmed
Reliance Industries Ltd                 CP                 CRISIL A1+     300000  Reaffirmed
(Enhanced from Rs.25,000 Crore)
S. P. Garments                          Export Packing     CRISIL A4      50
                                        Credit
Downgraded from 'CRISIL A4+'
SBI Cards and Payment Services Pvt Ltd  CP                 CRISIL A1+     110000  Reaffirmed
Sri Kakatiya Industries (India) Pvt Ltd BG                 CRISIL A4+     34      Reaffirmed
Vee Cee Exports                         BG                 CRISIL A4+     0.5     Reaffirmed
Vee Cee Exports                         Packing Credit     CRISIL A4+     40      Reaffirmed
Vee Cee Exports                         Post Shipment      CRISIL A4+     30      Reaffirmed
                                        Credit
Yazdani Steel and Power Ltd             LOC                CRISIL A4      70
Upgraded from 'CRISIL D'

MEDIUM TERM RATINGS:
-------------------
NTPC Ltd                                FD                 FAAA                   Reaffirmed
Punjab Kashmir Finance Ltd              FD                 FA-                    Reaffirmed

LONG TERM RATINGS:
-------------------
A. F. Cashews                           TL                 CRISIL B       5       Assigned
A. F. Cashews                           Proposed LT Bk     CRISIL B       50      Assigned
                                        Loan Fac
A. F. Cashews                           CC                 CRISIL B       30      Assigned
Akkavila K Lekshmanan and Company       CC                 CRISIL B+      45      Reaffirmed
Migrated from 'CRISIL B+ Issuer Not Cooperating'
Akkavila K Lekshmanan and Company       TL                 CRISIL B+      45      Reaffirmed
Migrated from 'CRISIL B+ Issuer Not Cooperating'
Baddi Foils Pvt Ltd                     Standby Line of    CRISIL BB+     25      Assigned
                                        Credit
Baddi Foils Pvt Ltd                     LT Loan            CRISIL BB+     15      Assigned
Baddi Foils Pvt Ltd                     CC                 CRISIL BB+     120     Assigned
Bajaj Kagaj Ltd                         CC                 CRISIL BB+     60      Reaffirmed
Bajaj Kagaj Ltd                         Standby Line of    CRISIL BB+     20      Reaffirmed
                                        Credit
BNP Paribas Global Securities           CC*                CRISIL AAA     40      Reaffirmed
Operations Pvt Ltd
*Includes sublimit of Export Packing Credit/Export Post Shipment Credit of Rs.40.00 crore
BNP Paribas Global Securities           Proposed LT Bk     CRISIL AAA     46.69   Reaffirmed
Operations Pvt Ltd                      Loan Fac
BNP Paribas Global Securities           TL                 CRISIL AAA     35.31   Reaffirmed
Operations Pvt Ltd
BNP Paribas India Solutions Pvt Ltd     WC Demand Loan*    CRISIL AAA     30      Reaffirmed
*Interchangeable with letter of credit to the extent of Rs 3 Cr and bank guarantee to the extent
of Rs 8 Cr.
Candy Spirits Pvt Ltd                   CC                 CRISIL BBB     260     Reaffirmed
Chandi Enterprises                      Proposed TL        CRISIL B+      7.6     Assigned
Chandi Enterprises                      LT Loan            CRISIL B+      7.4     Assigned
Chandi Enterprises                      CC                 CRISIL B+      22.5    Assigned
Deepak and Company Infra Pvt Ltd        CC                 CRISIL BB-     15      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Deepak and Company Infra Pvt Ltd        TL                 CRISIL BB-     184     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Dhall Enterprises and Engineers Pvt Ltd CC                 CRISIL BB-     70      Reaffirmed
Dhall Enterprises and Engineers Pvt Ltd TL                 CRISIL BB-     6       Reaffirmed
Dhall Exports                           Export Packing     CRISIL BB-     200     Reaffirmed
                                        Credit
Exim Knits Pvt Ltd                      TL                 CRISIL BB      55.4    Assigned
Friendly Motors India Pvt Ltd           Inventory Funding  CRISIL BB      135.8
                                        Fac
Migrated from 'CRISIL BB+ Issuer Not Cooperating'
Genxt Mobile                            CC                 CRISIL BB-     40      Reaffirmed
Genxt Mobile                            Channel Financing  CRISIL BB-     100     Reaffirmed
Hira Automobiles Ltd                    CC                 CRISIL BB-     250     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Imperial Malts Ltd                      CC                 CRISIL BB      140     Reaffirmed
Imperial Malts Ltd                      Proposed LT Bk     CRISIL BB      135     Reaffirmed
                                        Loan Fac
Imperial Malts Ltd                      TL                 CRISIL BB      35      Reaffirmed
ITFT Consultancy Pvt Ltd                Proposed WC Fac    CRISIL B       55
Downgraded from 'CRISIL B+'
J. B. Cotton Industries                 CC                 CRISIL BB-     100     Reaffirmed
J. B. Cotton Industries                 Proposed LT Bk     CRISIL BB-     15      Reaffirmed
                                        Loan Fac
J. P. Rice Mills - Fatehabad            CC                 CRISIL B+      8       Reaffirmed
J. P. Rice Mills - Fatehabad            Proposed LT Bk     CRISIL B+      2       Reaffirmed
                                        Loan Fac
Jehan Numa Palace Hotel Pvt Ltd         Proposed LT Bk     CRISIL BBB+    54      Reaffirmed
                                        Loan Fac
Jupiter Alloys and Steel India Ltd      CC                 CRISIL BBB+    240
Upgraded from 'CRISIL BBB'
Jupiter Wagons Ltd                      CC                 CRISIL BBB+    480
Upgraded from 'CRISIL BBB'
Jupiter Wagons Ltd                      Corporate Loan     CRISIL BBB+    30
Upgraded from 'CRISIL BBB'
Kalpataru Satpura Transco Pvt Ltd       TL                 CRISIL A       2120    Withdrawn
Kalpataru Satpura Transco Pvt Ltd       NCD*               CRISIL AA              Reaffirmed
*The NCDs are being raised to repay the outstanding term loan
Kalpataru Satpura Transco Pvt Ltd       NCD*               CRISIL AA      1880    Reaffirmed
*The NCDs are being raised to repay the outstanding term loan
Kapila Krishi Udyog Ltd                 CC                 CRISIL BB+     90
Upgraded from 'CRISIL BB'
Kapila Krishi Udyog Ltd                 Proposed WC Fac    CRISIL BB+     250
Upgraded from 'CRISIL BB'
Kapila Krishi Udyog Ltd                 Warehouse Receipts CRISIL BB+     150
Upgraded from 'CRISIL BB'
Kisan Mouldings Ltd                     CC                 CRISIL D       1070    Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kisan Mouldings Ltd                     Funded Interest TL CRISIL D       151.5   Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kisan Mouldings Ltd                     Letter Of GuaranteeCRISIL D       62.5    Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kisan Mouldings Ltd                     LOC                CRISIL D       497.5   Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kisan Mouldings Ltd                     LT Loan            CRISIL D       618     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Kisan Mouldings Ltd                     Proposed LT Bk     CRISIL D       0.5     Reaffirmed
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Kisan Mouldings Ltd                     WC TL              CRISIL D       470     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Lala Harbhagwan Dass Memorial and Dr.   Overdraft          CRISIL BB+     10      Reaffirmed
Prem Hospital Pvt Ltd
Lala Harbhagwan Dass Memorial and Dr.   TL                 CRISIL BB+     65      Reaffirmed
Prem Hospital Pvt Ltd
Mirza International Ltd                 CC                 CRISIL A       400     Reaffirmed
Mirza International Ltd                 TL                 CRISIL A       263.8   Reaffirmed
Nandu Chemicals Pvt Ltd                 TL                 CRISIL B       79.4    Reaffirmed
Nature Nursery                          TL                 CRISIL B+      120     Assigned
Neumec and Reodar Builders JV           Proposed TL        CRISIL B       1000
Issuer Not Cooperating; Rating withdrawn
Nitin Sai Constructions Pvt Ltd         BG                 CRISIL D       70      Reaffirmed
Nitin Sai Constructions Pvt Ltd         CC/ Overdraft Fac  CRISIL D       15      Reaffirmed
Nitin Sai Constructions Pvt Ltd         Inland/Import LOC  CRISIL D       20      Reaffirmed
Nitta Gelatin India Ltd                 CC                 CRISIL A-      70      Reaffirmed
Nitta Gelatin India Ltd                 LT Loan            CRISIL A-      123     Reaffirmed
Nitta Gelatin India Ltd                 Proposed LT Bk     CRISIL A-      60      Assigned
                                        Loan Fac
NTPC Ltd                                CC                 CRISIL AAA     15250   Reaffirmed
NTPC Ltd                                LT Loan            CRISIL AAA     466591.8Reaffirmed
NTPC Ltd                                Proposed CC Limit  CRISIL AAA     14750   Reaffirmed
NTPC Ltd                                Proposed LT Bk     CRISIL AAA     183408.2Reaffirmed
                                        Loan Fac
NTPC Ltd                                Bond Issue         CRISIL AAA     161900  Reaffirmed
NTPC Ltd                                NCDs               CRISIL AAA     348343.3Reaffirmed
NTPC Ltd                                NCDs (Including    CRISIL AAA     4725    Reaffirmed
                                        Tax- Free Bonds)
Opal Luxury Time Products Ltd           BG                 CRISIL D       10      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Opal Luxury Time Products Ltd           CC                 CRISIL D       80      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Opal Luxury Time Products Ltd           LOC                CRISIL D       50      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Page Industries Ltd                     CC                 CRISIL AA      400
Rating reaffirmed and Withdrawn
Paruthi Engineers Pvt Ltd               CC                 CRISIL BB+     50
Issuer Not Cooperating; Migrated from 'CRISIL BBB-'
Paruthi Engineers Pvt Ltd               Foreign LOC        CRISIL BB+     20
Issuer Not Cooperating; Migrated from 'CRISIL BBB-'
Platinum Polymers Pvt Ltd               TL                 CRISIL BB      11.7    Assigned
Platinum Polymers Pvt Ltd               Proposed LT Bk     CRISIL BB      10.8    Assigned
                                        Loan Fac
Platinum Polymers Pvt Ltd               CC                 CRISIL BB      50      Assigned
Prasad and Company (Project Works) Ltd  CC                 CRISIL BB-     1050
Upgraded from 'CRISIL C'
Punjab Kashmir Finance Ltd              CC                 CRISIL BBB     200     Reaffirmed
R S B Cottex Ltd                        TL                 CRISIL BBB-    526     Assigned
R S B Cottex Ltd                        Proposed LT Bk     CRISIL BBB-    36.9    Assigned
                                        Loan Fac
R S B Cottex Ltd                        CC*                CRISIL BBB-    200     Assigned
*Export Packing Credit/Packing Credit in Foreign Currency/inland Bill Discounting/Foreign Bill
Discounting of Rs.6 crore as a sub-limit of Cash Credit facility 
Rambaran Singh Apex Pvt Ltd             Proposed CC Limit  CRISIL BB+     15      Assigned
Rambaran Singh Apex Pvt Ltd             CC                 CRISIL BB+     35      Assigned
Reliance Industries Ltd                 FB Fac*            CRISIL AAA     499650  Reaffirmed
* Fully interchangeable between bank guarantee, letter of credit, export packing credit, and
post-shipment credit
Reliance Industries Ltd                 Proposed LT Bk     CRISIL AAA     150000  Reaffirmed
                                        Loan Fac
Reliance Industries Ltd                 Rupee TL           CRISIL AAA     350     Reaffirmed
Reliance Industries Ltd                 NCDs               CRISIL AAA     100000  Reaffirmed
Reliance Industries Ltd                 NCDs               CRISIL AAA     100000  Reaffirmed
Reliance Industries Ltd                 NCDs               CRISIL AAA     100080  Reaffirmed
S. P. Garments                          CC                 CRISIL B       10
Downgraded from 'CRISIL BB-'
SBI Cards and Payment Services Pvt Ltd  LT Bk Fac**        CRISIL AAA     110000  Reaffirmed
**Cash credit/working capital demand loan
SBI Cards and Payment Services Pvt Ltd  NCD                CRISIL AAA     5000    Assigned
SBI Cards and Payment Services Pvt Ltd  Lower Tier II      CRISIL AAA     5000    Assigned
                                        Bonds
SBI Cards and Payment Services Pvt Ltd  NCD                CRISIL AAA     10000   Reaffirmed
SBI Cards and Payment Services Pvt Ltd  Lower Tier II BondsCRISIL AAA     1500    Reaffirmed
SBI Cards and Payment Services Pvt Ltd  Lower Tier II BondsCRISIL AAA     1250    Reaffirmed
SBI Cards and Payment Services Pvt Ltd  Lower Tier II BondsCRISIL AAA     5000    Reaffirmed
SBI Cards and Payment Services Pvt Ltd  Lower Tier II BondsCRISIL AAA     1000    Reaffirmed
SBI Cards and Payment Services Pvt Ltd  Lower Tier II BondsCRISIL AAA     2000    Reaffirmed
SBI Cards and Payment Services Pvt Ltd  Lower Tier II BondsCRISIL AAA     1000    Reaffirmed
Sri Kakatiya Industries (India) Pvt Ltd CC                 CRISIL BB      121
Upgraded from 'CRISIL BB-'
Sri Kakatiya Industries (India) Pvt Ltd LT Loan            CRISIL BB      30
Upgraded from 'CRISIL BB-'
Surya Rice Industries                   CC                 CRISIL B+      80
Upgraded from 'CRISIL B'
Surya Rice Industries                   TL                 CRISIL B+      80
Upgraded from 'CRISIL B'
Vee Cee Exports                         LT Loan            CRISIL BB      9       Reaffirmed
Vee Cee Exports                         Proposed WC Fac    CRISIL BB      20.5    Assigned
Venus Remedies Ltd                      BG                 CRISIL D       25      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Venus Remedies Ltd                      CC                 CRISIL D       1050    Reaffirmed
Issuer Not Cooperating; Rating Migrated
Venus Remedies Ltd                      Funded Interest TL CRISIL D       95.7    Reaffirmed
Issuer Not Cooperating; Rating Migrated
Venus Remedies Ltd                      LOC                CRISIL D       255     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Venus Remedies Ltd                      LOC & BG           CRISIL D       90      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Venus Remedies Ltd                      TL                 CRISIL D       1467.7  Reaffirmed
Issuer Not Cooperating; Rating Migrated
Yazdani Steel and Power Ltd             CC                 CRISIL C       180
Upgraded from 'CRISIL D'
Yazdani Steel and Power Ltd             Funded Interest TL CRISIL C       11.3
Upgraded from 'CRISIL D'
Yazdani Steel and Power Ltd             LT Loan            CRISIL C       337.9
Upgraded from 'CRISIL D'
Yazdani Steel and Power Ltd             Proposed LT Bk     CRISIL C       244.1
                                        Loan Fac
Upgraded from 'CRISIL D'
Yazdani Steel and Power Ltd             WC TL              CRISIL C       129.1
Upgraded from 'CRISIL D'

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