April 3, 2018 / 5:13 AM / 20 days ago

CRISIL ratings for Indian debt instruments-Apr 3

    Apr 3 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 2, 2018.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Atlas Copco India Ltd                   LOC & BG           CRISIL A1+     1680    Reaffirmed
Dakshin Exports                         Packing Credit in  CRISIL A4      246     -
                                        Foreign Currency
Deepmala Foods                          Packing Credit     CRISIL A4+     140     Reaffirmed
Deepmala Marine Exports                 Packing Credit     CRISIL A4+     87.5    Reaffirmed
Excel Crop Care Ltd                     LOC^               CRISIL A1+     500     Reaffirmed
^Interchangeable with bank guarantee
Garg Agrifoods Pvt Ltd                  BG                 CRISIL A4+     6       Reaffirmed
Hind Offshore Pvt Ltd                   BG                 CRISIL A4+     200     Reaffirmed
Kotak Mahindra Investments Ltd          CP Programme (IPO  CRISIL A1+     20000   -
                                        Financing)
Kotak Mahindra Investments Ltd          CP Programme       CRISIL A1+     55000   -
M Suresh Company Pvt Ltd                Foreign Exchange   CRISIL A1      40      -
                                        Forward
Mode Advertising and Marketing Pvt Ltd  BG                 CRISIL A4+     15      Assigned
Suspension Revoked 
NCL Industries Ltd                      LOC & BG           CRISIL A2      500     Reaffirmed
NIF Pvt Ltd                             BG                 CRISIL A2+     50      Reaffirmed
NIF Pvt Ltd                             Foreign Exchange   CRISIL A2+     4       Reaffirmed
                                        Forward**
**Interchangable with Fund based limit
NIF Pvt Ltd                             Proposed ST Bk     CRISIL A2+     100     Reaffirmed
                                        Loan Fac
Rajasthani Sammelan Education Trust     Overdraft          CRISIL A3      120     Assigned
Shashank Auto Pvt Ltd                   Proposed ST Bk     CRISIL A4+     16      Assigned
                                        Loan Fac
Shashank Auto Pvt Ltd                   Channel Financing  CRISIL A4+     100     Assigned
Theme Engineering Services Pvt Ltd      BG                 CRISIL A3+     200     Reaffirmed

MEDIUM TERM RATINGS:
-------------------
NCL Industries Ltd                      FD                 FA-/Positive   600     Reaffirmed
Outlook revised from 'Stable'


LONG TERM RATINGS:
-------------------
Atlas Copco India Ltd                   CC                 CRISIL AAA     500     Upgraded from
                                                                                  CRISIL AA+
B. R. Metal and Alloys (Guj) Pvt Ltd    CC                 CRISIL BBB-    150     Assigned
Suspension Revoked 
Deepmala Foods                          Proposed LT Bk     CRISIL BB      10      Reaffirmed
                                        Loan Fac
Deepmala Marine Exports                 Proposed LT Bk     CRISIL BB      12.5    Reaffirmed
                                        Loan Fac
Excel Crop Care Ltd                     CC*                CRISIL AA-     1162.5  Reaffirmed
*Interchangeable with bill discounting and working capital demand loan facilities
Excel Crop Care Ltd                     CC**               CRISIL AA-     337.5   Reaffirmed
**Interchangeable with bill discounting and working capital demand loan facilities. Fully
fungible
Garg Agrifoods Pvt Ltd                  CC                 CRISIL BB      250     Reaffirmed
Garg Agrifoods Pvt Ltd                  TL                 CRISIL BB      42      Assigned
Garg Agrifoods Pvt Ltd                  Proposed LT Bk     CRISIL BB      2       Assigned
                                        Loan Fac
Hind Offshore Pvt Ltd                   Proposed LT Bk     CRISIL BB+     126.3   Reaffirmed
                                        Loan Fac
Hind Offshore Pvt Ltd                   TL                 CRISIL BB+     455.7   Reaffirmed
Kotak Mahindra Investments Ltd          Proposed LT Bk     CRISIL AAA     4500    -
                                        Loan Fac**
**Interchangeable with short term facilities
Kotak Mahindra Investments Ltd          WC Demand Loan     CRISIL AAA     10500   -
Kotak Mahindra Investments Ltd          NCDs               CRISIL AAA     32000   -
Kotak Mahindra Investments Ltd          Subordinated Debt  CRISIL AAA     2000    -
                                        Issue
Latha Educational Society               TL                 CRISIL B       50      Reaffirmed
Issuer Not Cooperating; Rating Migrated* 
M Suresh Company Pvt Ltd                Packing Credit     CRISIL A       1229    -
                                        (pre-shipment
                                        credit)
M Suresh Company Pvt Ltd                Post Shipment      CRISIL A       2097.5  -
                                        Credit*
*Fully interchangeable with Packing Credit (pre-shipment credit)
M Suresh Company Pvt Ltd                Proposed LT Bk     CRISIL A       37.5    -
                                        Loan Fac
M Suresh Company Pvt Ltd                Standby Line of    CRISIL A       282.5   -
                                        Credit
M Suresh Company Pvt Ltd                Post Shipment      CRISIL A       125     -
                                        Credit#
#Interchangeable with Packing Credit (pre-shipment credit) upto Rs 6.25 crore
M Suresh Company Pvt Ltd                Post Shipment      CRISIL A       1198.5  -
                                        Credit
Mode Advertising and Marketing Pvt Ltd  CC                 CRISIL BB-     57.5    Assigned
Suspension Revoked 
Mode Advertising and Marketing Pvt Ltd  Proposed WC Fac    CRISIL BB-     72.5    Assigned
Suspension Revoked 
NCL Industries Ltd                      CC                 CRISIL BBB+    900     Reaffirmed
Outlook revised from Stable
NIF Pvt Ltd                             CC*                CRISIL A-      350     Reaffirmed
*Interchangable with WCDL/SBCL
NIF Pvt Ltd                             Proposed LT Bk     CRISIL A-      268.5   Reaffirmed
                                        Loan Fac

NIF Pvt Ltd                             Standby LOC        CRISIL A-      50      Reaffirmed
NIF Pvt Ltd                             TL                 CRISIL A-      1317.5  Assigned
NIF Pvt Ltd                             CC                 CRISIL A-      660     Reaffirmed
Rajasthani Sammelan Education Trust     TL                 CRISIL BBB-    560     Assigned
Shashank Auto Pvt Ltd                   TL                 CRISIL BB+     4       Assigned
Shashank Auto Pvt Ltd                   CC                 CRISIL BB+     150     Assigned
Shree Om Milk Foods Pvt Ltd             Overdraft          CRISIL B       60      Assigned
Soffia Ceramic                          CC                 CRISIL B+      35      Assigned
Soffia Ceramic                          LT Loan            CRISIL B+      46      Assigned
Suvarnakala Pvt Ltd                     CC                 CRISIL BB+     342.5   Assigned
Theme Engineering Services Pvt Ltd      CC - Book Debt     CRISIL BBB     20      Assigned
--------------------------------------------------------------------------------------------
$: 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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