April 9, 2018 / 4:07 AM / 17 days ago

CRISIL ratings for Indian debt instruments-Apr 9

    Apr 9 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of April 6, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
AAR CEE Contracts Pvt Ltd               BG                 CRISIL A4+     7       Reaffirmed
Issuer Not Cooperating
Akanksha Sales Promoters India Pvt Ltd  BG                 CRISIL A4+     25      Reaffirmed
Issuer Not Cooperating
Akanksha Sales Promoters India Pvt Ltd  Inland/Import LOC  CRISIL A4+     5       Reaffirmed
Issuer Not Cooperating
Black Rose Industries Ltd               LOC                CRISIL A3      55      Reaffirmed
Eric Shweta International LLP           Export Packing     CRISIL A4      50      Assigned
                                        Credit
G.C. Chemie Pharmie Ltd                 LOC*               CRISIL A2      44.6    Reaffirmed
*Interchangeable with buyer's credit
Impressionspace Planners Pvt Ltd        BG                 CRISIL A4      30      Assigned
J. P. Polymers                          LOC                CRISIL A4      55      Reaffirmed
Migrated from 'CRISIL A4' Issuer Not Cooperating
Jaya Hind Industries Ltd                BG                 CRISIL A1      80      Reaffirmed
Jaya Hind Industries Ltd                LOC                CRISIL A1      410     Reaffirmed
Jaya Hind Industries Ltd                Proposed LOC       CRISIL A1      70      Assigned
Jaya Hind Industries Ltd                Proposed BG        CRISIL A1      40      Assigned
JBM Auto System Pvt Ltd                 LOC                CRISIL A2+     250     Reaffirmed
Continues on 'Rating Watch with Developing Implications'
JBM Auto System Pvt Ltd                 LOC%               CRISIL A2+     350
Continues on 'Rating Watch with Developing Implications' ; '% interchangeable with cash credit
limit upto Rs 20 cr
Karan Trading India Pvt Ltd             Import LOC Limit   CRISIL A4+     80      Reaffirmed
Karan Trading India Pvt Ltd             Proposed LOC       CRISIL A4+     20      Assigned
Lee Builders                            BG                 CRISIL A4+     92      Reaffirmed
Mahavir Transmission Ltd                BG                 CRISIL A4      60      Reaffirmed
Issuer Not Cooperating
Mahavir Transmission Ltd                LOC                CRISIL A4      40      Reaffirmed
Issuer Not Cooperating
Mandhana Plastics Pvt Ltd               LOC                CRISIL A4+     25      Reaffirmed
My Car (Pune) Pvt Ltd                   BG                 CRISIL A3      25      Reaffirmed
Northstone Builders and Developers Pvt  BG                 CRISIL A4      25      Assigned
Ltd
Pratipa Cashews                         Bill Discounting   CRISIL A4+     30      Reaffirmed
Pratipa Cashews                         Standby Line of    CRISIL A4+     12.8    Reaffirmed
                                        Credit
R.N.Gupta and Co. Ltd                   BG                 CRISIL A3      1
Upgraded from CRISIL A4+
R.N.Gupta and Co. Ltd                   LOC                CRISIL A3      5
Upgraded from CRISIL A4+
R.N.Gupta and Co. Ltd                   Packing Credit in  CRISIL A3      23
                                        Foreign Currency
Upgraded from CRISIL A4+
Ruksh Garments Pvt Ltd                  Packing Credit     CRISIL A4      25      Reaffirmed
Issuer Not Cooperating
Ruksh Garments Pvt Ltd                  Sales Bill         CRISIL A4      20      Reaffirmed
                                        Discounting
Issuer Not Cooperating
Sandhya Spinning Mill Ltd               Bill Discounting++ CRISIL A3      120     Reaffirmed
++Interchangeable with IBN/FBN/FBP/FBD/Advance against Collection Bills (AACB)/PSFC/FLC/FCL/BG
for Short term trade credit(STTC)
Sandhya Spinning Mill Ltd               Foreign Exchange   CRISIL A3      10      Reaffirmed
                                        Forward
Sanjay Chemicals India Pvt Ltd          LOC                CRISIL A3+     2038
Upgraded from 'CRISIL A3'
Satyam (Fab) Industries Pvt Ltd         BG                 CRISIL A4+     23      Reaffirmed
Issuer Not Cooperating
Shrinivas Electricals GTD Pvt Ltd       LOC                CRISIL A4+     90      Reaffirmed
Issuer Not Cooperating
Signum Electrowave                      LOC                CRISIL A4+     55
Upgraded from 'CRISIL A4'
Skylark Warehousing Solutions Pvt. Ltd. BG                 CRISIL A4+     15      Reaffirmed
Issuer Not Cooperating
Sri Vishnu Shankar Mills Ltd            Foreign Exchange   CRISIL A3      50      Reaffirmed
                                        Forward
The Ramaraju Surgical Cotton Mills Ltd  BG                 CRISIL A3+     10      Reaffirmed
The Ramaraju Surgical Cotton Mills Ltd  Inland/Import LOC  CRISIL A3+     30      Reaffirmed
UBV Infrastructures Ltd                 BG                 CRISIL A4+     30      Reaffirmed
Issuer Not Cooperating
UBV Infrastructures Ltd                 Proposed BG        CRISIL A4+     170     Reaffirmed
Issuer Not Cooperating
Vijay Transtech Pvt Ltd                 BG                 CRISIL A4+     12.5    Reaffirmed
Issuer Not Cooperating
Vijay Transtech Pvt Ltd                 LOC                CRISIL A4+     12.5    Reaffirmed
Issuer Not Cooperating

MEDIUM TERM RATINGS:
-------------------
Jaya Hind Industries Ltd                FD                 FAA-           500     Reaffirmed

LONG TERM RATINGS:
-------------------
AAR CEE Contracts Pvt Ltd               Proposed FB Bk     CRISIL BB      3       Reaffirmed
                                        Limits
Issuer Not Cooperating
Abishek Enterprises - Virudhunagar      Open CC            CRISIL BB+     20      Assigned
Akanksha Sales Promoters India Pvt Ltd  CC                 CRISIL BB      70      Reaffirmed
Issuer Not Cooperating
Akanksha Sales Promoters India Pvt Ltd  LT Loan            CRISIL BB      6.1     Reaffirmed
Issuer Not Cooperating
Avtar Singh and Company                 Proposed CC Limit  CRISIL BB      100     Reaffirmed

Issuer Not Cooperating
Bethel Cashew Company                   CC                 Withdrawal     70
Issuer Not Cooperating
Bethel Cashew Company                   Standby Line of    Withdrawal     6
                                        Credit
Issuer Not Cooperating
Bhagwan Auto Products                   TL                 CRISIL BB      32.5    Reaffirmed
Issuer Not Cooperating
Bhagwan Auto Products                   CC                 Withdrawal     25
Issuer Not Cooperating
Bhagwan Auto Products                   Proposed CC Limit  Withdrawal     4.1
Issuer Not Cooperating
Bhagwan Auto Products                   TL                 Withdrawal     36.6    Assigned
Issuer Not Cooperating
Black Rose Industries Ltd               CC                 CRISIL BBB-    70      Reaffirmed
G.C. Chemie Pharmie Ltd                 CC                 CRISIL BBB+    6.5     Reaffirmed
G.C. Chemie Pharmie Ltd                 Proposed CC Limit  CRISIL BBB+    2.44    Reaffirmed
HCL Technologies Ltd                    LT Rating          CRISIL BB-
Issuer Not Cooperating; Rating Migrated
Impressionspace Planners Pvt Ltd        CC                 CRISIL B+      50      Assigned
J. P. Polymers                          CC                 CRISIL B       15      Reaffirmed
Migrated from 'CRISIL B' Issuer Not Cooperating
J. P. Polymers                          Proposed LT Bk     CRISIL B       30      Reaffirmed
                                        Loan Fac
Migrated from 'CRISIL B' Issuer Not Cooperating
Jaya Hind Industries Ltd                CC                 CRISIL A+      660     Reaffirmed
Jaya Hind Industries Ltd                Proposed CC Limit  CRISIL A+      40      Assigned
Jaya Hind Industries Ltd                TL                 CRISIL A+      1000    Assigned
JBM Auto System Pvt Ltd                 CC*                CRISIL A-      1325    Reaffirmed
Continues on 'Rating Watch with Developing Implications'; *Interchangeable with letter of credit
& bank guarantees
JBM Auto System Pvt Ltd                 LT Loan            CRISIL A-      674.1   Reaffirmed
Continues on 'Rating Watch with Developing Implications'
JBM Auto System Pvt Ltd                 Proposed TL        CRISIL A-      56.1    Reaffirmed
Continues on 'Rating Watch with Developing Implications'
JBM Auto System Pvt Ltd                 CC^                CRISIL A-      800     Reaffirmed
Continues on 'Rating Watch with Developing Implications'; ^Interchangeable with letter of credit
& bank guarantees upto Rs 55 crore
JBM Auto System Pvt Ltd                 CC$                CRISIL A-      470
Continues on 'Rating Watch with Developing Implications'; $ Interchangeable with letter of
credit & bank guarantees upto Rs 15 crore
JBM Auto System Pvt Ltd                 CC                 CRISIL A-      400
Continues on 'Rating Watch with Developing Implications'
K. C. S. Developers                     LT Loan            CRISIL BB+     90      Reaffirmed
K. C. S. Developers                     Proposed LT Bk     Withdrawal     110
                                        Loan Fac
Karan Trading India Pvt Ltd             CC                 CRISIL BB-     30      Reaffirmed
Karan Trading India Pvt Ltd             Proposed CC Limit  CRISIL BB-     20      Assigned
Karimala Granites & Aggregates (Pvt) LtdOverdraft          CRISIL BB      10      Assigned
Kiran Automobiles Pvt Ltd               CC                 CRISIL BB+     168.6
Upgraded from 'CRISIL BB'
Kiran Automobiles Pvt Ltd               Channel Financing  CRISIL BB+     41.4
Upgraded from 'CRISIL BB'
Kiran Automobiles Pvt Ltd               TL                 CRISIL BB+     5
Upgraded from 'CRISIL BB'
Lee Builders                            CC                 CRISIL BB-     178     Reaffirmed
Mahavir Transmission Ltd                CC                 CRISIL B       100     Reaffirmed
Issuer Not Cooperating
Mandhana Plastics Pvt Ltd               CC                 CRISIL BB      40      Reaffirmed
Mandhana Plastics Pvt Ltd               Proposed LT Bk     CRISIL BB      2.2     Reaffirmed
                                        Loan Fac
Mandhana Plastics Pvt Ltd               TL                 CRISIL BB      2.8     Reaffirmed
Microfinish Valves Pvt Ltd              Rating             --
CRISIL views information availability risk as a key factor in its assessment of credit risk.
My Car (Pune) Pvt Ltd                   CC                 CRISIL BBB-    200     Reaffirmed
My Car (Pune) Pvt Ltd                   Inventory Funding  CRISIL BBB-    1024    Reaffirmed
                                        Fac
My Car (Pune) Pvt Ltd                   Proposed LT Bk     CRISIL BBB-    61      Reaffirmed
                                        Loan Fac
My Car (Pune) Pvt Ltd                   Proposed TL        CRISIL BBB-    30      Reaffirmed
My Car (Pune) Pvt Ltd                   TL                 CRISIL BBB-    170     Assigned
N P Rajagopal Chetty and Co             CC                 Withdrawal     60
Issuer Not Cooperating
Northstone Builders and Developers Pvt  Overdraft          CRISIL B       62      Assigned
Ltd
Pratipa Cashews                         Export Packing     CRISIL BB      50
                                        Credit
Upgraded from 'CRISIL BB-'
Pratipa Cashews                         TL                 CRISIL BB      7.2
Upgraded from 'CRISIL BB-'
R.N.Gupta and Co. Ltd                   CC                 CRISIL BBB-    8
Upgraded from CRISIL BB+
R.N.Gupta and Co. Ltd                   Credit Limit Under CRISIL BBB-    4.6
                                        Gold Card
Upgraded from CRISIL BB+
R.N.Gupta and Co. Ltd                   LT Loan            CRISIL BBB-    3.89
Upgraded from CRISIL BB+
R.N.Gupta and Co. Ltd                   Proposed FB Bk     CRISIL BBB-    20
                                        Limits
Upgraded from CRISIL BB+
R.N.Gupta and Co. Ltd                   Proposed Standby   CRISIL BBB-    7.5
                                        Line of Credit
Upgraded from CRISIL BB+
R.N.Gupta and Co. Ltd                   Proposed TL        CRISIL BBB-    2
Upgraded from CRISIL BB+
R.N.Gupta and Co. Ltd                   Rupee TL           CRISIL BBB-    6.75    Assigned
R.N.Gupta and Co. Ltd                   TL                 CRISIL BBB-    20.67   Assigned
Raihan Healthcare Pvt Ltd               LT Loan            CRISIL D       320
Downgraded from 'CRISIL B'
Ramnarayan Contractor                   BG                 Withdrawal     100
Issuer Not Cooperating
Ramnarayan Contractor                   Secured Overdraft  Withdrawal     20
                                        Fac
Issuer Not Cooperating
Reach Promoters Pvt Ltd                 TL                 Withdrawal     800
Ruksh Garments Pvt Ltd                  Proposed FB Bk     CRISIL B-      6       Reaffirmed
                                        Limits
Issuer Not Cooperating
Ruksh Garments Pvt Ltd                  TL                 CRISIL B-      49      Reaffirmed
Issuer Not Cooperating
Sandhya Spinning Mill Ltd               CC***              CRISIL BBB-    415     Reaffirmed
***Interchangeable with short-term loans; includes sublimit of PC/ PCFC/ WCDL
Sandhya Spinning Mill Ltd               Corporate Loan     CRISIL BBB-    361.3   Reaffirmed
Sandhya Spinning Mill Ltd               TL                 CRISIL BBB-    149.3   Reaffirmed
Sandhya Spinning Mill Ltd               WC Demand Loan##   CRISIL BBB-    100     Reaffirmed
##Interchangeable with EPC/PCFC/FBD/PSCFC/PBD/LC/BC; includes sublimit of CC to the extent of
Rs. 5 crs.
Sandhya Spinning Mill Ltd               WC Fac^            CRISIL BBB-    100     Reaffirmed
^Interchangeable with LC/BC; includes sublimit of CC/WCDL/EPC/PCFC/PSC/PSCFC to the extent of
Rs.5 crs.
Sandhya Spinning Mill Ltd               WC TL              CRISIL BBB-    357.1   Reaffirmed
Sandhya Spinning Mill Ltd               CC****             CRISIL BBB-    400     Reaffirmed
****Interchangeable with EPC/PCFC/FBN/FBP/FBD/LCBD/CBD/LC/BC/BG; includes sublimit of WCDL to
the extent of Rs.15 crs
Sandhya Spinning Mill Ltd               CC                 CRISIL BBB-    215
Reaffirmed
Sanjay Chemicals India Pvt Ltd          CC                 CRISIL BBB     103.5
Upgraded from 'CRISIL BBB-/Positive'
Sanjay Chemicals India Pvt Ltd          WC Fac             CRISIL BBB     62.5
Upgraded from 'CRISIL BBB-/Positive'
Satyam (Fab) Industries Pvt Ltd         CC                 CRISIL BB      77      Reaffirmed
Issuer Not Cooperating; Rating Migrated from 'CRISIL BB/Positive'
SEED Infotech Ltd                       BG                 Withdrawal     15
SEED Infotech Ltd                       CC                 Withdrawal     40
SEED Infotech Ltd                       Proposed LT Bk     Withdrawal     75
                                        Loan Fac
Sharoff Steel Traders                   CC                 CRISIL BB+     190     Reaffirmed
Rating reaffirmed and Withdrawal; Issuer Not Cooperating
Sharoff Steel Traders                   Channel Financing  Withdrawal     80
Rating reaffirmed and Withdrawal
Shrinivas Electricals GTD Pvt Ltd       CC                 CRISIL BB+     10      Reaffirmed
Issuer Not Cooperating
Signum Electrowave                      CC                 CRISIL BB-     30
Upgraded from 'CRISIL B+'
Signum Electrowave                      LT Loan            CRISIL BB-     50
Upgraded from 'CRISIL B+'
Silver Emporium Pvt Ltd                 CC                 CRISIL BB      80      Reaffirmed
Issuer Not Cooperating
Silver Emporium Pvt Ltd                 Proposed LT Bk     CRISIL BB      15      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Silverlines Gems and Jewellery Pvt Ltd  CC                 CRISIL B-      95      Assigned
Skylark Warehousing Solutions Pvt. Ltd. CC                 CRISIL BB-     2.5     Reaffirmed
Issuer Not Cooperating
Sri Sri Ravishankar Vidya Mandir Trust  TL                 CRISIL B       24.09   Reaffirmed
(Unit-Sri Sri University)
Issuer Not Cooperating
Sri Vishnu Shankar Mills Ltd            CC*                CRISIL BBB-    200     Reaffirmed
* Interchangeable with export packing credit (EPC)/ packing credit in foreign currency (PCFC)
Sri Vishnu Shankar Mills Ltd            Corporate Loan     CRISIL BBB-    731.2   Reaffirmed
Sri Vishnu Shankar Mills Ltd            FB Fac#^           CRISIL BBB-    280     Reaffirmed
#Interchangeable with LC/BC/BG/WCDL; ^Interchangeable with non-fund based facilities
Sri Vishnu Shankar Mills Ltd            TL                 CRISIL BBB-    155.1   Reaffirmed
Sri Vishnu Shankar Mills Ltd            WC TL              CRISIL BBB-    296.4   Reaffirmed
Sri Vishnu Shankar Mills Ltd            CC***              CRISIL BBB-    500     Reaffirmed
*** Interchangeable with EPC/PCFC/ FBN/ FBP/ FBD/ buyer's credit
Sri Vishnu Shankar Mills Ltd            CC@                CRISIL BBB-    250     Reaffirmed
@ Interchangeable with short term loan/EPC/ letter of credit/bank guarantee/ buyer's credit
Sri Vishnu Shankar Mills Ltd            FB Fac^            CRISIL BBB-    263     Reaffirmed
^Interchangeable with non-fund based facilities
Sri Vishnu Shankar Mills Ltd            FB Fac##           CRISIL BBB-    100     Reaffirmed
## Interchangeable with WCDL/EPC
Sushil Bahirat Patil and Associates     Proposed LT Bk     CRISIL BB-     40      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Sushil Bahirat Patil and Associates     TL                 CRISIL BB-     310     Reaffirmed
Issuer Not Cooperating
Tata Motors Finance Ltd-Indian          Series A PTCs      Provisional
Receivable Trust Mar 2018 A                                CRISIL AAA (SO)
Provisional Rating Assigned
Tata Motors Finance Ltd-Indian          Second loss Fac    Provisional
Receivable Trust Mar 2018 A                                CRISIL BBB+
                                                           (SO)
Provisional Rating Assigned
Thanjavur Spinning Mill Ltd             CC                 CRISIL BB-     225
Downgraded from 'CRISIL BB+'
Thanjavur Spinning Mill Ltd             Corporate Loan     CRISIL BB-     350
Downgraded from 'CRISIL BB+'
Thanjavur Spinning Mill Ltd             Proposed LT Bk     CRISIL BB-     58.3
                                        Loan Fac
Downgraded from 'CRISIL BB+'
The Kuttanad Rubber Co Ltd              CC/ Overdraft Fac  CRISIL D       20
Issuer Not Cooperating; Downgraded from 'CRISIL B:Issuer Not Cooperating'
The Kuttanad Rubber Co Ltd              LT Loan            CRISIL D       54
Issuer Not Cooperating; Downgraded from 'CRISIL B:Issuer Not Cooperating'
The Ramaraju Surgical Cotton Mills Ltd  CC                 CRISIL BBB     1305    Reaffirmed
The Ramaraju Surgical Cotton Mills Ltd  Cash TL            CRISIL BBB     675.5   Reaffirmed
The Ramaraju Surgical Cotton Mills Ltd  Corporate Loan     CRISIL BBB     548.3   Reaffirmed
The Ramaraju Surgical Cotton Mills Ltd  Proposed LT Bk     CRISIL BBB     3.3     Reaffirmed
                                        Loan Fac
UBV Infrastructures Ltd                 CC                 CRISIL BB-     20      Reaffirmed
Issuer Not Cooperating
UBV Infrastructures Ltd                 Proposed CC Limit  CRISIL BB-     30      Reaffirmed
Issuer Not Cooperating
Uttar Pradesh State Bridge Corpn Ltd    Proposed LT Bk     CRISIL BBB+    250     Reaffirmed
                                        Loan Fac
Vijay Transtech Pvt Ltd                 CC                 CRISIL BB      35      Reaffirmed
Issuer Not Cooperating
Vijay Transtech Pvt Ltd                 Proposed LT Bk     CRISIL BB      40      Reaffirmed
                                        Loan Fac
Issuer Not Cooperating
Zuri Hospitality Pvt Ltd                BG                 Withdrawal     7.5
Issuer Not Cooperating
Zuri Hospitality Pvt Ltd                Overdraft          Withdrawal     40
Issuer Not Cooperating

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