August 16, 2019 / 7:30 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Aug 16

    Aug 16 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of August 14, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Associated Toolings India Pvt Ltd       BG                 CRISIL A4      38      Reaffirmed
Associated Toolings India Pvt Ltd       Bill Discounting   CRISIL A4      6       Reaffirmed
Associated Toolings India Pvt Ltd       LOC                CRISIL A4      10      Reaffirmed
Chand Fruit Company Pvt Ltd             Export Packing     CRISIL A4+     170     Reaffirmed
                                        Credit
CS Components Pvt Ltd                   BG                 CRISIL A4+     10      Reaffirmed
CS Components Pvt Ltd                   LOC                CRISIL A4+     50      Reaffirmed
DCM Ltd                                 LOC & BG           CRISIL D       132.5   Downgraded
                                                                                  from CRISIL
                                                                                  A4+
DCM Ltd                                 Overdraft          CRISIL D       90      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Giddegowda Contractors                  BG                 CRISIL A4+     140     Reaffirmed
Gujarat Cotton Corporation              Export Packing     CRISIL A4+     100     Migrated from
                                        Credit                                    CRISIL A4+
                                                                                  and Withdrawn
(Issuer Not Cooperating)
Hanumat Wires Udyog Pvt Ltd             Bill Discounting   CRISIL A4+     30      Reaffirmed
Infiiloom India Pvt Ltd                 BG                 CRISIL A3+     15      Reaffirmed
Infiiloom India Pvt Ltd                 LOC & BG           CRISIL A3+     215     Reaffirmed
Ingersoll Rand India Ltd                LOC & BG           CRISIL A1+     870     Reaffirmed
Ingersoll Rand India Ltd                Proposed NFBL      CRISIL A1+     110     Reaffirmed
K K Welding Ltd                         LOC                CRISIL D       50      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
(Issuer Not Cooperating)
Mekins Industries Ltd                   LOC & BG           CRISIL A3+     30      Reaffirmed
Mekins Industries Ltd                   Packing Credit     CRISIL A3+     50      Reaffirmed
Pashupati Metallics                     BG                 CRISIL A4+     25      Reaffirmed
Prasad and Company (Project Works) Ltd  BG                 CRISIL D       2750    Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Prasad and Company (Project Works) Ltd  BG*                CRISIL D       3130    Downgraded
                                                                                  from CRISIL
                                                                                  A4+
*Includes Rs 30 crore interchangeable with letter of credit
Powerlinks Transmission Ltd             Proposed LOC & BG  CRISIL A1+     40
S R Polytex Pvt Ltd                     Import LOC Limit   CRISIL A4+     150     Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Samvardhana Motherson International Ltd CP                 CRISIL A1+     2500    Reaffirmed
Santo Engineering Company Pvt Ltd       BG                 CRISIL A4+     10      Reaffirmed
Santo Engineering Company Pvt Ltd       LOC Bill           CRISIL A4+     13.3    Reaffirmed
                                        Discounting
Saurav Chemicals Ltd                    LOC                CRISIL A2      57.5    Reaffirmed
SB International                        LOC                CRISIL A4+     200     Reaffirmed
Shubham Civil Projects Pvt Ltd          BG                 CRISIL A3      395     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Solara Active Pharma Sciences Ltd       BG                 CRISIL A2      750     Reaffirmed
Solara Active Pharma Sciences Ltd       Export Packing     CRISIL A2      3730    Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Solara Active Pharma Sciences Ltd       Import LOC Limit   CRISIL A2      1420    Reaffirmed
Sunrise Marketing Agents                LOC                CRISIL A4      35      Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Sunrise Marketing Agents                Overdraft          CRISIL A4      30      Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Tata Motors Finance Ltd                 CP                 CRISIL A1+     70000   Reaffirmed
Tata Motors Finance Solutions Ltd       CP                 CRISIL A1+     25000   Reaffirmed
Tata Motors Ltd                         Non-FBL*           CRISIL A1+     60000   Reaffirmed
*Limits are fully interchangeable
Tata Motors Ltd                         ST Debt            CRISIL A1+     10000   Reaffirmed
Tata Motors Ltd                         CP                 CRISIL A1+     60000   Reaffirmed
Tessolve Semiconductor Pvt Ltd          BG                 CRISIL A3+     15      Reaffirmed
Tessolve Semiconductor Pvt Ltd          ST Loan            CRISIL A3+     70      Reaffirmed
Turquoise Investments and Finance Pvt   CP                 CRISIL A1+     10000   Withdrawn
Ltd
Removed from 'Rating Watch with Developing Implications'
LONG TERM RATINGS:
-------------------
Amarjothi Spinning Mills Ltd            CC                 CRISIL BBB+    100     Reaffirmed
Andhra Pradesh State Financial          9.48% Bond Series  CRISIL B+      2000    Downgraded
Corporation                             V/2012*                                   from CRISIL
                                                                                  BB (SO)
Continues on 'Rating Watch with Negative Implications'' /*Amounts outstanding as on March 31,
2019 
Andhra Pradesh State Financial          8.35% Bond Series  CRISIL B+      242     Downgraded
Corporation                             IV/2009*                                  from CRISIL
                                                                                  BB (SO)
Continues on 'Rating Watch with Negative Implications'' /*Amounts outstanding as on March 31,
2019 
Andhra Pradesh State Financial          Bonds Series VII & CRISIL B+      2080    Downgraded
Corporation                             VIII/2014*                                from CRISIL
                                                                                  BB (SO)
Continues on 'Rating Watch with Negative Implications'' /*Amounts outstanding as on March 31,
2019 
Apt Packaging Ltd                       BG                 CRISIL D       14      Reaffirmed
Apt Packaging Ltd                       CC                 CRISIL D       32.5    Reaffirmed
Apt Packaging Ltd                       Foreign Bill       CRISIL D       11      Reaffirmed
                                        Purchase
Apt Packaging Ltd                       Funded Interest TL CRISIL D       27.2    Reaffirmed
Apt Packaging Ltd                       LT Loan            CRISIL D       76.3    Reaffirmed
Apt Packaging Ltd                       Packing Credit     CRISIL D       6       Reaffirmed
Apt Packaging Ltd                       Proposed LT Bk     CRISIL D       0.4     Reaffirmed
                                        Loan Fac
Apt Packaging Ltd                       WC TL              CRISIL D       32.6    Reaffirmed
Arabian Gold and Diamonds Kayamkulam    CC                 CRISIL BB-     220     Reaffirmed
Arya Collateral Warehousing Services    CC*                CRISIL BBB-    100     Assigned
Pvt Ltd
*includes sub- limit of Rs 5 crore by way of invoice discounting
Associated Toolings India Pvt Ltd       CC                 CRISIL B       83.5    Reaffirmed

Associated Toolings India Pvt Ltd       Proposed LT Bk     CRISIL B       0.4     Reaffirmed
                                        Loan Fac
Associated Toolings India Pvt Ltd       Rupee TL           CRISIL B       2.1     Reaffirmed
Bhumija Ispat LLP                       CC                 CRISIL B+      100     Assigned
Bhumija Ispat LLP                       TL                 CRISIL B+      50      Assigned
CS Components Pvt Ltd                   CC                 CRISIL BB      145     Reaffirmed
CS Components Pvt Ltd                   Proposed LT Bk     CRISIL BB      5       Reaffirmed
                                        Loan Fac
DCM Ltd                                 Bill Discounting   CRISIL D       150     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
DCM Ltd                                 CC                 CRISIL D       1900    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
DCM Ltd                                 LT Loan            CRISIL D       1005.1  Downgraded
                                                                                  from CRISIL
                                                                                  BB+
DCM Ltd                                 Proposed LT Bk     CRISIL D       481.2   Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Dexler Information Solutions Pvt Ltd    CC                 CRISIL BB-     92.4    Reaffirmed
Giddegowda Contractors                  CC                 CRISIL BB-     60      Reaffirmed
Gujarat Cotton Corporation              CC                 CRISIL BB-     150     Migrated from
                                                                                  CRISIL BB-
                                                                                  and Withdrawn
(Issuer Not Cooperating)
Hanumat Wires Udyog Pvt Ltd             CC                 CRISIL BB+     40      Reaffirmed
Hanumat Wires Udyog Pvt Ltd             LT Loan            CRISIL BB+     6.6     Reaffirmed
Infiiloom India Pvt Ltd                 Export Packing     CRISIL BBB     325     Reaffirmed
                                        Credit$
$Interchangeable with LC upto Rs.6 cr and Rs.6.5 cr of Cash credit
Infiiloom India Pvt Ltd                 Export Packing     CRISIL BBB     165     Reaffirmed
                                        Credit#
#Fully interchangeable with CC, Rs2 crore is sublimit of LC
Infiiloom India Pvt Ltd                 Export Packing     CRISIL BBB     220     Reaffirmed
                                        Credit*
*Fully interchangeable with CC/pre-shipment/post shipment finance/WCDL
Infiiloom India Pvt Ltd                 Proposed TL        CRISIL BBB     700     Reaffirmed
Infiiloom India Pvt Ltd                 Proposed WC Fac    CRISIL BBB     150     Reaffirmed
Infiiloom India Pvt Ltd                 Rupee TL           CRISIL BBB     270     Reaffirmed
Ingersoll Rand India Ltd                CC                 CRISIL AA+     20
Continues on 'Rating Watch with Developing Implications'
K K Welding Ltd                         CC                 CRISIL D       175     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
(Issuer Not Cooperating)
K K Welding Ltd                         Overdraft          CRISIL D       275     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
(Issuer Not Cooperating)
K K Welding Ltd                         Proposed WC Fac    CRISIL D       20      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
(Issuer Not Cooperating)
K N Industries                          CC                 CRISIL BB      57.4    Reaffirmed
K N Industries                          LT Bk Fac          CRISIL BB      32.6    Reaffirmed
Kanchan International                   Export Packing     CRISIL D       80      Downgraded
                                        Credit                                    from CRISIL B+
Medhatiya Construction Company Pvt Ltd  TL                 CRISIL D       40      Downgraded
                                                                                  from CRISIL B+
Medhatiya Construction Company Pvt Ltd  WC Demand Loan     CRISIL D       28.5    Downgraded
                                                                                  from CRISIL B+
Mekins Industries Ltd                   CC                 CRISIL BBB     100     Reaffirmed
Mekins Industries Ltd                   LT Loan            CRISIL BBB     70      Reaffirmed
Mendine Pharmaceuticals Pvt Ltd         CC                 CRISIL BB-     79.8    Reaffirmed
Mendine Pharmaceuticals Pvt Ltd         Proposed FB Bk     CRISIL BB-     45.2    Reaffirmed
                                        Limits
Pashupati Metallics                     CC                 CRISIL BB      75      Upgraded from
                                                                                  CRISIL BB-
Powerlinks Transmission Ltd             Proposed Overdraft CRISIL AAA     40
                                        Fac*
*Interchangeable with cash credit facility 
Prasad and Company (Project Works) Ltd  CC                 CRISIL D       1050    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Ramrati Jagdish Pvt Ltd                 Foreign Bill       CRISIL D       70      Downgraded
                                        Purchase                                  from CRISIL B+
Samvardhana Motherson International Ltd NCD                CRISIL AA-     1000    Withdrawn
Santhosh Rice Industries                CC                 CRISIL B+      149.8   Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Santhosh Rice Industries                LT Loan            CRISIL B+      32.4    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Santhosh Rice Industries                Proposed LT Bk     CRISIL B+      12.8    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Santo Engineering Company Pvt Ltd       CC                 CRISIL BB      115     Reaffirmed
Santo Engineering Company Pvt Ltd       TL                 CRISIL BB      50.7    Reaffirmed
Santo Engineering Company Pvt Ltd       WC TL              CRISIL BB      51      Reaffirmed
Saurav Chemicals Ltd                    Bill Discounting   CRISIL BBB+    75      Reaffirmed
Saurav Chemicals Ltd                    CC                 CRISIL BBB+    375     Reaffirmed
Saurav Chemicals Ltd                    Proposed LT Bk     CRISIL BBB+    57.8    Reaffirmed
                                        Loan Fac
SB International                        CC                 CRISIL BB      50      Reaffirmed
Shree Maheshwar Hydel Power Corporation OFCDs*             CRISIL AAA(SO) 4000    Reaffirmed
Ltd
*As on March 31, 2019; Rs.117 crore is outstanding
Shubham Civil Projects Pvt Ltd          CC                 CRISIL BBB-    200     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Shubham Civil Projects Pvt Ltd          Proposed WC Fac    CRISIL BBB-    5       Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Solara Active Pharma Sciences Ltd       Cash TL            CRISIL BBB+    2720    Reaffirmed
Solara Active Pharma Sciences Ltd       LT Loan            CRISIL BBB+    1700    Reaffirmed
Solara Active Pharma Sciences Ltd       Proposed CC Limit  CRISIL BBB+    1330    Reaffirmed
Sunrise Marketing Agents                CC                 CRISIL B-      10      Migrated from
                                                                                  CRISIL B-
(Issuer Not Cooperating)
Sunrise Marketing Agents                TL                 CRISIL B-      12      Migrated from
                                                                                  CRISIL B-
(Issuer Not Cooperating)
T K International Ltd                   Proposed LT Bk     CRISIL BB-     200.1   Assigned;
                                        Loan Fac                                  Suspension
                                                                                  Revoked
Tata Motors Finance Ltd                 Perpetual Bonds    CRISIL A       4150    Downgraded
                                                                                  from CRISIL A+
Tata Motors Finance Ltd                 NCDs               CRISIL AA-     56050   Downgraded
                                                                                  from CRISIL AA
Tata Motors Finance Ltd                 Subordinated Debt  CRISIL AA-     14000   Downgraded
                                        Programme                                 from CRISIL AA
                                            
Tata Motors Finance Solutions Ltd       LT Rating          CRISIL AA-     -       Downgraded
                                                                                  from CRISIL AA
Tata Motors Finance Solutions Ltd       NCD                CRISIL AA-     10000   Downgraded
                                                                                  from CRISIL AA
Tata Motors Finance Solutions Ltd       Subordinated Debt  CRISIL AA-     2000    Downgraded
                                                                                  from CRISIL AA
Tata Motors Ltd                         FB Fac             CRISIL AA-     80000   Downgraded
                                                                                  from CRISIL AA
Tata Motors Ltd                         FB Fac^            CRISIL AA-     10000   Downgraded
                                                                                  from CRISIL AA
^Committed credit facility
Tessolve Semiconductor Pvt Ltd          CC                 CRISIL BBB     5       Reaffirmed
Tessolve Semiconductor Pvt Ltd          Export Packing     CRISIL BBB     295     Reaffirmed
                                        Credit
Tessolve Semiconductor Pvt Ltd          Proposed LT Bk     CRISIL BBB     232     Reaffirmed
                                        Loan Fac
Tessolve Semiconductor Pvt Ltd          TL                 CRISIL BBB     322.2   Reaffirmed
Tessolve Semiconductor Pvt Ltd          WC Fac             CRISIL BBB     160.8   Reaffirmed
Vasavi Jewellery Mart                   CC                 CRISIL BB-     100     Upgraded from
                                                                                  CRISIL B+
--------------------------------------------------------------------------------------------
$: 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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below