August 18, 2017 / 5:51 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Aug 18

    Aug 18 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of August 17, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Alfara'a Infraprojects Pvt Ltd          BG                 CRISIL A4      4195    Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Issuer Not Cooperating
Alfara'a Infraprojects Pvt Ltd          LOC                CRISIL A4      1400    Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Issuer Not Cooperating
Astha Associate Engineering & ContractorBG                 CRISIL A4      50      Reaffirmed
Issuer Not Cooperating
Bommidala Ventures Pvt Ltd              BG                 CRISIL A4+     10      Reaffirmed
Bommidala Ventures Pvt Ltd              Packing Credit     CRISIL A4+     480     Reaffirmed
C&S Electric Ltd                        LOC & BG           CRISIL A1      3700    Reaffirmed
Placed on 'Rating Watch With Developing Implications'
Hindustan Refrigeration Stores          Letter Of GuaranteeCRISIL A4      1       Reaffirmed
Issuer Not Cooperating
Jagannath Corporation Projects Pvt Ltd  BG                 CRISIL A4      20      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Jai Pushpa Industries                   BG                 CRISIL A4      3       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Jai Pushpa Industries                   Inland/Import LOC  CRISIL A4      50      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Just Click Travels Pvt Ltd              BG                 CRISIL A4      10      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Just Click Travels Pvt Ltd              Overdraft          CRISIL A4      60      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Laxmisree Ricemill Pvt Ltd              BG                 CRISIL A4      0.6     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Ma Chandi Rice Mill                     BG                 CRISIL A4      2.5     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Magpet Polymers Pvt Ltd                 BG                 CRISIL A4      10      Reaffirmed
Issuer Not Cooperating
Magpet Polymers Pvt Ltd                 LOC                CRISIL A4      3.2     Reaffirmed
Issuer Not Cooperating
Marque Impex                            Foreign Bill       CRISIL A4      30      Downgraded
                                        Purchase                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Marque Impex                            Packing Credit     CRISIL A4      190     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Meenakshi Polymers Pvt Ltd              LOC & BG           CRISIL A3+     70      Assigned
Odyssey Advanced Telematics Systems     BG                 CRISIL A4      19      Reaffirmed
Issuer Not Cooperating
Oscar Equipments Pvt Ltd                BG                 CRISIL A4      30      Reaffirmed
Issuer Not Cooperating
Oscar Equipments Pvt Ltd                Import LOC Limit*  CRISIL A4      13      Reaffirmed
*Fully convertible to Foreign Letter of Credit (FLC)./ Issuer Not Cooperating
Oscar Equipments Pvt Ltd                LOC                CRISIL A4      5       Reaffirmed
Rankas Texfab Pvt Ltd                   BG                 CRISIL A4      2       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Rankas Texfab Pvt Ltd                   LOC                CRISIL A4      10      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Rankas Texfab Pvt Ltd                   Packing Credit     CRISIL A4      165     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Rudra Automobiles Pvt Ltd               BG                 CRISIL A3+     50      Upgraded from
                                                                                  CRISIL A3
Shikhar Printers & Publisher            BG                 CRISIL A4      3       Reaffirmed
Issuer Not Cooperating
Shikhar Printers & Publisher            LOC                CRISIL A4      22.5    Reaffirmed
Issuer Not Cooperating
Shree Shyam Impex                       LOC                CRISIL A4      42.5    Reaffirmed
Issuer Not Cooperating
SVA Syntex Pvt Ltd                      BG                 CRISIL A4+     0.3     Reaffirmed
SVA Syntex Pvt Ltd                      LOC                CRISIL A4+     30      Reaffirmed
Symec Engineers India Pvt Ltd           BG                 CRISIL A4      50      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Issuer Not Cooperating
Tej International Pvt Ltd               BG                 CRISIL A3+     10      Reaffirmed
Tej International Pvt Ltd               Export Packing     CRISIL A3+     290     Reaffirmed
                                        Credit
Tej International Pvt Ltd               LOC                CRISIL A3+     80      Reaffirmed
Thomas Constructions Pvt Ltd            BG                 CRISIL A4      21      Reaffirmed
Vardhman Textiles Ltd                   LOC & BG#          CRISIL A1+     2000    Reaffirmed
Vardhman Textiles Ltd                   ST Debt (Including CRISIL A1+     10000   Reaffirmed
                                        CP)
Varun Beverages Ltd                     LOC                CRISIL A1+     1200    Reaffirmed
Varun Beverages Ltd                     CP                 CRISIL A1+     2500    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Vardhman Textiles Ltd                   FD                 FAAA           -       Reaffirmed

LONG TERM RATINGS:
-------------------
Alfara'a Infraprojects Pvt Ltd          CC                 CRISIL B       1380    Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Issuer Not Cooperating
Alfara'a Infraprojects Pvt Ltd          Proposed LT Bk     CRISIL B       5.9     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB
Issuer Not Cooperating
Alfara'a Infraprojects Pvt Ltd          TL                 CRISIL B       100     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Issuer Not Cooperating
Anandswarn Residency Pvt Ltd            Proposed LT Bk     CRISIL C       7.5     Downgraded
                                        Loan Fac                                  from CRISIL B
Anandswarn Residency Pvt Ltd            TL                 CRISIL C       117.5   Downgraded
                                                                                  from CRISIL B
Astha Associate Engineering & ContractorCC/ Overdraft Fac  CRISIL B       10      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Banka Woven Sacks Pvt Ltd               CC                 CRISIL B       52.5    Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Banka Woven Sacks Pvt Ltd               Proposed LT Bk     CRISIL B       21      Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Banka Woven Sacks Pvt Ltd               TL                 CRISIL B       26.5    Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
BVSR KP Road Projects Pvt Ltd           Proposed LT Bk     CRISIL BBB     333     Reaffirmed
                                        Loan Fac
BVSR KP Road Projects Pvt Ltd           TL                 CRISIL BBB     417     Reaffirmed
C&S Electric Ltd                        CC                 CRISIL A-#     2127    Reaffirmed
C&S Electric Ltd                        External           CRISIL A-#     41      Reaffirmed
                                        Commercial
                                        Borrowings
C&S Electric Ltd                        LOC & BG           CRISIL A-#     700     Reaffirmed
C&S Electric Ltd                        TL                 CRISIL A-#     192     Reaffirmed
Delhi International Airport Ltd         Corporate Credit   CCR AA-        -       Reaffirmed
                                        Rating
G N R C Ltd                             CC                 CRISIL B       50      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
G N R C Ltd                             Proposed LT Bk     CRISIL B       4.5     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
G N R C Ltd                             TL                 CRISIL B       607.6   Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Garg Industries Ltd                     CC                 CRISIL B       230     Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Garg Industries Ltd                     Proposed LT Bk     CRISIL B       25.9    Downgraded
                                        Loan Fac                                  from CRISIL BB
Issuer Not Cooperating
Ghanshyam Foods Pvt Ltd                 CC                 CRISIL B+      49      Reaffirmed
Ghanshyam Foods Pvt Ltd                 TL                 CRISIL B+      1.9     Reaffirmed
Global Steel Company                    BG                 CRISIL D       10      Reaffirmed
Global Steel Company                    LOC                CRISIL D       20      Reaffirmed
Global Steel Company                    LT Loan            CRISIL D       30      Reaffirmed
Global Steel Company                    Overdraft          CRISIL D       100     Reaffirmed
GMR Airports Ltd                        NCD                CRISIL AA-     5000    Reaffirmed
GMR Goa International Airport Ltd       Proposed LT Bk     CRISIL BBB-    14300   Assigned
                                        Loan Fac
Gopal Krishna Oil-Tech Industries Pvt   CC                 CRISIL B       70      Downgraded
Ltd                                                                               from CRISIL B+
Issuer Not Cooperating
Hindustan Refrigeration Stores          CC                 CRISIL B       110     Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Jagannath Corporation Projects Pvt Ltd  CC                 CRISIL B       30      Downgraded
                                                                                  from CRISIL BB
Jagannath Corporation Projects Pvt Ltd  Proposed LT Bk     CRISIL B       25      Downgraded
                                        Loan Fac                                  from CRISIL BB
Jai Pushpa Industries                   CC                 CRISIL B       15      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Jai Pushpa Industries                   Proposed LT Bk     CRISIL B       7       Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Keya Seth Ayurvedic Solution Pvt Ltd    CC                 CRISIL BB-     2.5     Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Keya Seth Ayurvedic Solution Pvt Ltd    Proposed LT Bk     CRISIL BB-     47.5    Downgraded
                                        Loan Fac                                  from CRISIL BB
Issuer Not Cooperating
Laxmisree Ricemill Pvt Ltd              CC                 CRISIL B       55      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Laxmisree Ricemill Pvt Ltd              Proposed LT Bk     CRISIL B       16.2    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Laxmisree Ricemill Pvt Ltd              Standby LOC        CRISIL B       8.2     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Ma Chandi Rice Mill                     CC                 CRISIL B       50      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Ma Chandi Rice Mill                     CC - Book Debt     CRISIL B       13      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Ma Chandi Rice Mill                     Proposed LT Bk     CRISIL B       4.8     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Ma Chandi Rice Mill                     TL                 CRISIL B       9.7     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Magpet Polymers Pvt Ltd                 CC                 CRISIL B+      35      Withdrawal
Issuer Not Cooperating
Magpet Polymers Pvt Ltd                 Proposed LT Bk     CRISIL B+      9.7     Withdrawal
                                        Loan Fac
Issuer Not Cooperating
Magpet Polymers Pvt Ltd                 TL                 CRISIL B+      83.9    Withdrawal
Issuer Not Cooperating
Marque Impex                            Proposed LT Bk     CRISIL B       50      Downgraded
                                        Loan Fac                                  from CRISIL BB
Issuer Not Cooperating
Max International                       CC                 CRISIL B       105     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Meenakshi Polymers Pvt Ltd              LT Loan            CRISIL BBB     100     Assigned
MGM Green Energy Ltd                    Proposed LT Bk     CRISIL B       30.7    Downgraded
                                        Loan Fac                                  from CRISIL BB
Issuer Not Cooperating
MGM Green Energy Ltd                    TL                 CRISIL B       164.3   Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Navin Cotex                             CC                 CRISIL B       80      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Novo Medi Sciences Pvt Ltd              CC                 CRISIL B+      90      Reaffirmed
Novo Medi Sciences Pvt Ltd              Proposed LT Bk     CRISIL B+      10      Reaffirmed
                                        Loan Fac
Odyssey Advanced Telematics Systems     CC                 CRISIL B       80      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Odyssey Advanced Telematics Systems     Proposed LT Bk     CRISIL B       1       Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Oscar Equipments Pvt Ltd                CC                 CRISIL B       19      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Oscar Equipments Pvt Ltd                Proposed LT Bk     CRISIL B       2.4     Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Patel Incorporation                     Overdraft          CRISIL B       75      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Rankas Texfab Pvt Ltd                   CC                 CRISIL B       30      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Rankas Texfab Pvt Ltd                   Proposed LT Bk     CRISIL B       36.9    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Rankas Texfab Pvt Ltd                   Rupee TL           CRISIL B       51.1    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Rudra Automobiles Pvt Ltd               CC                 CRISIL BBB     100     Upgraded from
                                                                                  CRISIL BBB-
Rudra Automobiles Pvt Ltd               TL                 CRISIL BBB     10      Upgraded from
                                                                                  CRISIL BBB-
S.G. Enterprises - Ranchi               CC                 CRISIL B       52.5    Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
S.G. Enterprises - Ranchi               Proposed LT Bk     CRISIL B       47.5    Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Sai Sudha Motors Pvt Ltd                CC                 CRISIL BB      60      Assigned
Sai Sudha Motors Pvt Ltd                Inventory Funding  CRISIL BB      50      Assigned
                                        Fac
Shikhar Printers & Publisher            CC                 CRISIL B       38      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Shree Radha Krishna Vinimay Pvt Ltd     CC                 CRISIL B       25      Downgraded
                                                                                  from CRISIL B+
Shree Shyam Impex                       CC                 CRISIL B       17.5    Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Sree Alankar                            CC                 CRISIL B       97.5    Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Sree Alankar                            Proposed CC Limit  CRISIL B       52.5    Downgraded
                                                                                  from CRISIL BB
Issuer Not Cooperating
Sunprime Infratech Pvt Ltd              TL                 CRISIL B       100     Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
SVA Syntex Pvt Ltd                      CC                 CRISIL BB+     20      Reaffirmed
SVA Syntex Pvt Ltd                      LT Loan            CRISIL BB+     20      Reaffirmed
SVA Syntex Pvt Ltd                      Proposed LT Bk     CRISIL BB+     29.7    Reaffirmed
                                        Loan Fac
Symec Engineers India Pvt Ltd           CC                 CRISIL B       9       Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Issuer Not Cooperating
Tej International Pvt Ltd               CC                 CRISIL BBB     20      Reaffirmed
Thomas Constructions Pvt Ltd            Corporate Loan     CRISIL B+      6.1     Reaffirmed
Thomas Constructions Pvt Ltd            LT Loan            CRISIL B+      0.7     Reaffirmed
Thomas Constructions Pvt Ltd            Overdraft          CRISIL B+      30      Reaffirmed
Thomas Constructions Pvt Ltd            Proposed LT Bk     CRISIL B+      42.2    Reaffirmed
                                        Loan Fac
Turboatom-TPS Projects Ltd              LT Loan            CRISIL B-      280     Reaffirmed
Vajrakalpa Cotton                       CC                 CRISIL B+      180     Reaffirmed
Vardhman Textiles Ltd                   CC*                CRISIL AA+     15000   Reaffirmed
* Includes Rs 1,155 crore sublimit for packing credit
Vardhman Textiles Ltd                   Foreign Bill       CRISIL AA+     2500    Reaffirmed
                                        Purchase
Vardhman Textiles Ltd                   FB Fac^            CRISIL AA+     2000    Reaffirmed
^ Interchangeable with non-fund based limits
Vardhman Textiles Ltd                   Proposed LT Bk     CRISIL AA+     2.3     Reaffirmed
                                        Loan Fac
Vardhman Textiles Ltd                   Proposed Rupee TL  CRISIL AA+     8460    Reaffirmed
Vardhman Textiles Ltd                   Rupee TL           CRISIL AA+     24200   Reaffirmed
Vardhman Textiles Ltd                   NCD                CRISIL AA+     5000    Assigned
Varun Beverages Ltd                     CC                 CRISIL AA-     3085    Reaffirmed
Varun Beverages Ltd                     Proposed LT Bk     CRISIL AA-     1       Reaffirmed
                                        Loan Fac
Varun Beverages Ltd                     TL                 CRISIL AA-     4455    Reaffirmed
Varun Beverages Ltd                     NCD                CRISIL AA-     3000    Reaffirmed
Vikram Arya Food Products Pvt Ltd       CC                 CRISIL B       10      Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Vikram Arya Food Products Pvt Ltd       Proposed LT Bk     CRISIL B       85      Downgraded
                                        Loan Fac                                  from CRISIL B+
Issuer Not Cooperating
Vikram Arya Food Products Pvt Ltd       TL                 CRISIL B       105     Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
Zero Microfinance and Savings Support   Proposed LT Bk     CRISIL B-      150     Downgraded
Foundation                              Loan Fac                                  from CRISIL B+
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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