April 18, 2018 / 9:08 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Apr 18

    Apr 18 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 17, 2018.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A.V. Infraprojects Pvt Ltd              LOC                CRISIL A4+     100     Assigned
Anil Buildcon India Pvt Ltd             BG                 CRISIL A4+     280     Downgraded
                                                                                  from CRISIL A3
Apnatech Consultancy Services Pvt Ltd   Proposed ST Bk     CRISIL A4+     58.2    Assigned
                                        Loan Fac
Apnatech Consultancy Services Pvt Ltd   BG                 CRISIL A4+     91.8    Assigned
Blue Diamond Leders                     LOC                CRISIL A4+     14.6    Reaffirmed
Chandawat Udyog (Cylinders) Ltd         BG                 CRISIL A4      27      Reaffirmed
Churiwal Technopack Pvt Ltd             BG                 CRISIL A4      20      Assigned
Diamond Industries (SBD)                LOC                CRISIL A4      1150    Reaffirmed
Goyal Agencies Pvt Ltd                  LOC                CRISIL A4      100     Reaffirmed
Meghmani Organics Ltd                   LOC & BG           CRISIL A1      350     Reaffirmed
Meghmani Organics Ltd                   LOC & BG!          CRISIL A1      400     Reaffirmed
! Interchangeable with buyer's credit
Navsheen Associates                     BG                 CRISIL A4+     70      Assigned
Nitta Gelatin India Ltd                 Bill Purchase -    CRISIL A2+     420     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+     349     Reaffirmed
Opaque Ceramics Pvt Ltd                 BG                 CRISIL A3      5       Reaffirmed
Opaque Ceramics Pvt Ltd                 LOC                CRISIL A3      45      Reaffirmed
OST Electronics Pvt Ltd                 LOC & BG           CRISIL A4+     30      Assigned
Oyster Printers and Publishers Pvt Ltd  BG                 CRISIL A4      20      Reaffirmed
Prabhat Steel Traders Pvt Ltd           LOC                CRISIL A4+     840     Reaffirmed
Prime Shoes                             BG                 CRISIL A4+     1       Reaffirmed
Prime Shoes                             LOC                CRISIL A4+     2.5     Reaffirmed
Prime Shoes                             Packing Credit     CRISIL A4+     40      Reaffirmed
Progress Traders                        LOC                CRISIL A4      50      Reaffirmed
Rhythm Knit India Pvt Ltd               Packing Credit     CRISIL A4+     67      Upgraded from
                                                                                  CRISIL A4
Rhythm Knit India Pvt Ltd               Post Shipment      CRISIL A4+     50      Upgraded from
                                        Credit                                    CRISIL A4
RPG Industrial Product Pvt Ltd          BG                 CRISIL A4+     5       Migrated
                                                                                  from CRISIL A3
(Issuer Not Cooperating)
RPG Industrial Product Pvt Ltd          Foreign LOC        CRISIL A4+     10      Migrated
                                                                                  from CRISIL A3
(Issuer Not Cooperating)
Rupesh Kumar and Sons                   Packing Credit     CRISIL A4+     110     Reaffirmed
Shako Flexipack Pvt Ltd                 BG                 CRISIL A3      1       Reaffirmed
Shako Flexipack Pvt Ltd                 Inland/Import LOC  CRISIL A3      10      Reaffirmed
Technofab Engineering Ltd               BG^^^              CRISIL A2      3750    Reaffirmed
^^^ Includes a letters of credit sub-limit of Rs. 59 crore
Technofab Engineering Ltd               BG^^               CRISIL A2      830     Reaffirmed
^^ Includes a letters of credit sub-limit of Rs. 25 crore
Technofab Engineering Ltd               BG#                CRISIL A2      1070    Reaffirmed
# Includes a letter of credit sub-limit of Rs. 27 crore
Technofab Engineering Ltd               BG##               CRISIL A2      450     Reaffirmed
## Includes a letter of credit sub-limit of Rs. 15 crore
Technofab Engineering Ltd               BG                 CRISIL A2      1820    Reaffirmed
Uni Klinger Ltd                         LOC**              CRISIL A3+     30      Reaffirmed
**Fully interchangeable with Bank guarantee  
Unitech Cotspin Ltd                     BG                 CRISIL A4+     15      Assigned
Vikas Sanitary Wares                    BG                 CRISIL A4      6       -
(Issuer Not Cooperating)



LONG TERM RATINGS:
-------------------
A.V. Infraprojects Pvt Ltd              CC                 CRISIL BB      40      Assigned
Amar Hatcheries - Jind                  CC                 -              20      Withdrawn
Amar Hatcheries - Jind                  LT Loan            -              45      Withdrawn
Anil Buildcon India Pvt Ltd             CC                 CRISIL BB+     5       Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Apnatech Consultancy Services Pvt Ltd   Proposed LT Bk     CRISIL BB      21.6    Assigned
                                        Loan Fac
Apnatech Consultancy Services Pvt Ltd   CC                 CRISIL BB      18.4    Assigned
Bansal Starch And Foods Pvt Ltd         CC                 -              10      Withdrawn
Bansal Starch And Foods Pvt Ltd         LT Loan            -              44      Withdrawn
Bansal Starch And Foods Pvt Ltd         Proposed LT Bk     -              6       Withdrawn
                                        Loan Fac
Blue Diamond Leders                     Export Packing     CRISIL BB      72.5    Reaffirmed
                                        Credit
Blue Diamond Leders                     Foreign Bill       CRISIL BB      72.9    Reaffirmed
                                        Discounting
Brijlax Motors Pvt Ltd                  CC                 CRISIL BB-     25      Reaffirmed
Brijlax Motors Pvt Ltd                  Electronic Dealer  CRISIL BB-     100     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Challani Jewellery Mart                 CC                 CRISIL BB-     160     Reaffirmed
Chandawat Udyog (Cylinders) Ltd         CC                 CRISIL B+      33      Reaffirmed
Chandawat Udyog (Cylinders) Ltd         LT Loan            CRISIL B+      5.9     Reaffirmed
Chandawat Udyog (Cylinders) Ltd         Proposed LT Bk     CRISIL B+      7.1     Reaffirmed
                                        Loan Fac
Churiwal Technopack Pvt Ltd             CC                 CRISIL B       200     Reaffirmed

Churiwal Technopack Pvt Ltd             TL                 CRISIL B       30      Reaffirmed
Cinq Micron Chem Pvt Ltd                CC                 -              70      Withdrawn
Cinq Micron Chem Pvt Ltd                Corporate Loan     -              5.8     Withdrawn
Cinq Micron Chem Pvt Ltd                LOC                -              10      Withdrawn
Cinq Micron Chem Pvt Ltd                TL                 -              6.7     Withdrawn
Conjoint Healthcare Pvt Ltd             CC                 -              4       Withdrawn
Conjoint Healthcare Pvt Ltd             TL                 -              70      Withdrawn
Diamond Industries (SBD)                CC                 CRISIL B       100     Assigned
Edimannickal Fashion Jewellery          CC                 CRISIL B+      100     Reaffirmed
Gaurav Bharti Shiksha Sansthan          TL                 CRISIL D       100     Reaffirmed
Goyal Agencies Pvt Ltd                  CC                 CRISIL B+      290     Reaffirmed
Harman Rice Pvt Ltd                     CC                 -              116     Withdrawn
Harman Rice Pvt Ltd                     Proposed LT Bk     -              41.6    Withdrawn
                                        Loan Fac
Harman Rice Pvt Ltd                     TL                 -              2.4     Withdrawn
ICICI Lombard General Insurance Co. Ltd Subordinated Debt  CRISIL AAA     4850    Reaffirmed
Jai Shree Radhey Woven Sack             CC                 -              25      Withdrawn
Jai Shree Radhey Woven Sack             TL                 -              44      Withdrawn
Kumar Autowheels Pvt Ltd                CC                 CRISIL BB      50      Upgraded from
                                                                                  CRISIL BB-
Kumar Autowheels Pvt Ltd                Electronic Dealer  CRISIL BB      100     Upgraded from
                                        Financing                                 CRISIL BB-
                                        Scheme(e-DFS)
Kumar Autowheels Pvt Ltd                Proposed TL        CRISIL BB      15      Upgraded from
                                                                                  CRISIL BB-
Kumar Autowheels Pvt Ltd                TL                 CRISIL BB      30      Upgraded from
                                                                                  CRISIL BB-
Manglam Build Developers Ltd            LT Loan            CRISIL B       1735.1  Reaffirmed
Manglam Build Developers Ltd            Proposed LT Bk     CRISIL B       572.4   Reaffirmed
                                        Loan Fac
Manglam Build Developers Ltd            TL                 CRISIL B       192.5   Reaffirmed
Meghmani Finechem Ltd                   CC*                CRISIL A+      440     Upgraded from
                                                                                  CRISIL A
* fully interchangeable with Letter of Credit and Bank Guarantee
Meghmani Finechem Ltd                   Proposed WC Fac    CRISIL A+      322     Upgraded from
                                                                                  CRISIL A
Meghmani Finechem Ltd                   Rupee TL           CRISIL A+      1128    Upgraded from
                                                                                  CRISIL A
Meghmani Organics Ltd                   CC@                CRISIL A+      1500    Reaffirmed
@ Interchangeable between WCDL/EPC/PCFC/PSFC. Interchangeable between Overdraft/ Short Term
Loan/Export & Local Bills Discounted/Export Invoice Financing
Meghmani Organics Ltd                   CC$                CRISIL A+      600     Reaffirmed
$ Interchangeable between Working Capital demand loan (WCDL)/Export Packing Credit (EPC)/
Preshipment Credit in Foreign Currency (PCFC)
Meghmani Organics Ltd                   CC^                CRISIL A+      800     Reaffirmed
^ Interchangeable between CC/WCDL/EPC/Foreign Usance Bills Discounting (FUBD)/Foreign Bills
Purchased (FBP)/PCFC/Post Shipment Credit in Foreign Currency (PSCFC)/Inland Bills Purchased/
Discounted
Meghmani Organics Ltd                   Export Packing     CRISIL A+      350     Reaffirmed
                                        Credit*
* Interchangeable between Overdraft/ Short Term Loan/Export & Local Bills Discounted/Export
Invoice Financing
Meghmani Organics Ltd                   Rupee TL           CRISIL A+      3070    Reaffirmed
Nachimuthu Industrial Association       Proposed LT Bk     CRISIL B-      120     Upgraded from
                                        Loan Fac                                  CRISIL D
Nachimuthu Industrial Association       TL                 CRISIL B-      230     Upgraded from
                                                                                  CRISIL D
Nano Minpro Pvt Ltd                     CC                 CRISIL D       90      -
(Issuer Not Cooperating)
Nano Minpro Pvt Ltd                     LOC                CRISIL D       10      -
(Issuer Not Cooperating)
Navsheen Associates                     CC                 CRISIL BB      15      Assigned
Nitta Gelatin India Ltd                 CC                 CRISIL A-      70      Reaffirmed
Nitta Gelatin India Ltd                 LT Loan            CRISIL A-      123     Reaffirmed
North Coastal Integrated Food Park Pvt  TL                 CRISIL B+      200     Assigned
Ltd
Opaque Ceramics Pvt Ltd                 CC**               CRISIL BBB-    120     Assigned
**Fully fungible with letter of credit facility
OST Electronics Pvt Ltd                 Non-FBL            CRISIL BB      3.5     Assigned
OST Electronics Pvt Ltd                 CC                 CRISIL BB      55      Assigned
Oyster Printers and Publishers Pvt Ltd  CC                 CRISIL B+      70      Reaffirmed
Panvelkar Infrastructures Pvt Ltd       TL                 CRISIL B+      200     Reaffirmed
Pavasiya Exports                        Post Shipment      CRISIL BB-     150     Reaffirmed
                                        Credit
Prabhat Steel Industries                CC                 CRISIL BBB-    100     Reaffirmed
Prabhat Steel Traders Pvt Ltd           CC                 CRISIL BB+     50      Upgraded from
                                                                                  CRISIL BB
Prabhat Steel Traders Pvt Ltd           Proposed LT Bk     CRISIL BB+     30      Upgraded from
                                        Loan Fac                                  CRISIL BB
Prime Shoes                             Foreign Bill       CRISIL BB      20      Reaffirmed
                                        Discounting
Prime Shoes                             Proposed LT Bk     CRISIL BB      56.5    Reaffirmed
                                        Loan Fac
Progress Traders                        CC                 CRISIL B+      50      Reaffirmed
Rhythm Knit India Pvt Ltd               LT Loan            CRISIL BB      3       Upgraded from
                                                                                  CRISIL B+
RPG Industrial Product Pvt Ltd          CC                 CRISIL BB+     150     Migrated
                                                                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
RPG Industrial Product Pvt Ltd          TL                 CRISIL BB+     85      Migrated
                                                                                  from CRISIL
                                                                                  BBB-
(Issuer Not Cooperating)
Rupesh Kumar and Sons                   Foreign Bill       CRISIL BB+     40      Upgraded from
                                        Discounting                               CRISIL BB
Saravana Stores (Thanga Nagai Maligai)  CC                 CRISIL BBB-    900     Reaffirmed
Saravana Stores (Thanga Nagai Maligai)  Proposed CC Limit  CRISIL BBB-    1100    Reaffirmed
Shako Flexipack Pvt Ltd                 CC                 CRISIL BBB-    90      Reaffirmed
Shako Flexipack Pvt Ltd                 TL                 CRISIL BBB-    73.3    Reaffirmed
Shako Flexipack Pvt Ltd                 Proposed LT Bk     CRISIL BBB-    4       Reaffirmed
                                        Loan Fac
Shanker Printing Mills                  CC                 -              70      Withdrawn
Shanker Printing Mills                  Proposed LT Bk     -              5.5     Withdrawn
                                        Loan Fac
Shanker Printing Mills                  TL                 -              31.9    Withdrawn
Shree Saikrupa Agro Industries          CC                 CRISIL BB-     34      Upgraded from
                                                                                  CRISIL B+
Shree Saikrupa Agro Industries          Proposed TL        CRISIL BB-     12.1    Upgraded from
                                                                                  CRISIL B+
Shree Saikrupa Agro Industries          TL                 CRISIL BB-     21.9    Upgraded from
                                                                                  CRISIL B+
Shree Sita Refiners Pvt Ltd             CC                 CRISIL BBB-    150     Reaffirmed
Shree Sita Refiners Pvt Ltd             TL                 CRISIL BBB-    23.1    Assigned
Singhal Pipes Pvt Ltd                   CC                 CRISIL BB-     160     Reaffirmed
Solvay Specialities India Pvt Ltd       Proposed LT Bk     CRISIL AA      3500    Assigned
                                        Loan Fac
Sri Janardhan Agro Industries           CC                 CRISIL BB-     50      Downgraded
                                                                                  from CRISIL BB
Sri Lakshmi Venkata Maruthi Raw and     CC                 CRISIL B       160     Reaffirmed
Boiled Rice Trading Company
Tata Capital Ltd                        CC & WC demand loanCRISIL AA+     150     Reaffirmed
Tata Capital Ltd                        Proposed LT Bk     CRISIL AA+     100     Reaffirmed
                                        Loan Fac
Technofab Engineering Ltd               CC**               CRISIL BBB+    520     Reaffirmed
** Fully interchangeable with export packing credit and foreign bill purchase
Technofab Engineering Ltd               CC@                CRISIL BBB+    150     Reaffirmed
@ Includes Rs.10 crore sub-limit of export packing credit and foreign bill purchase
Technofab Engineering Ltd               CC                 CRISIL BBB+    480     Reaffirmed
Technofab Engineering Ltd               Proposed LT Bk     CRISIL BBB+    1680    Reaffirmed
                                        Loan Fac
Technoy Motors India Pvt Ltd            CC                 CRISIL BBB-    50      Reaffirmed
Technoy Motors India Pvt Ltd            Electronic Dealer  CRISIL BBB-    120     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Technoy Motors India Pvt Ltd            LT Loan            CRISIL BBB-    130     Reaffirmed
Technoy Motors India Pvt Ltd            Proposed LT Bk     CRISIL BBB-    20      Reaffirmed
                                        Loan Fac
Thiruchy Steels                         CC                 CRISIL B+      80      Reaffirmed
Trade Linkers                           CC                 CRISIL BB-     160     Reaffirmed
Uni Klinger Ltd                         CC*                CRISIL BBB     160     Reaffirmed
*Sublimit of Working capital demand loan/ Export packing credit/ post credit /Pre shipment
credit in foreign currency by up to Rs 5 crore
Uni Klinger Ltd                         LT Loan            CRISIL BBB     21      Reaffirmed
Uni Klinger Ltd                         Proposed LT Bk     CRISIL BBB     79      Reaffirmed
                                        Loan Fac
Uni Klinger Ltd                         Proposed TL        CRISIL BBB     30      Reaffirmed
Unitech Cotspin Ltd                     LT Loan            CRISIL BB-     90      Assigned
Unitech Cotspin Ltd                     CC                 CRISIL BB-     60      Assigned
Vedant Fashions Pvt Ltd                 CC                 CRISIL AA-     1600    Upgraded from
                                                                                  CRISIL A+
(Removed from 'Rating Watch with Developing Implications)
Vikas Sanitary Wares                    CC                 CRISIL B       50      -
(Issuer Not Cooperating)
Vikas Sanitary Wares                    TL                 CRISIL B       15.5    -
(Issuer Not Cooperating)
Wonder Fibromats Pvt Ltd                CC                 CRISIL BB+     50      Reaffirmed
Wonder Fibromats Pvt Ltd                Proposed FB Bk     CRISIL BB+     38.6    Reaffirmed
                                        Limits
Wonder Fibromats Pvt Ltd                TL                 CRISIL BB+     36.4    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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