August 7, 2018 / 5:10 AM / in 3 months

CRISIL ratings for Indian debt instruments-Aug 7

    Aug 7 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of August 6, 2018.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Akashdeep Construction Co               BG                 CRISIL A4+     70      Upgraded from
                                                                                  CRISIL A4
Alpha Packaging Pvt Ltd                 BG                 CRISIL A2      18      Assigned
Begorra Infrastructure and Developers   BG                 CRISIL A4+     225     Reaffirmed
Pvt Ltd
Bliss GVS Pharma Ltd                    Inland/Import LOC  CRISIL A3+     140     Reaffirmed
Removed from Rating Watch with Developing Implications
Dlords Footwear and Fashions Pvt Ltd    Packing Credit in  CRISIL A4      130     Reaffirmed
                                        Foreign Currency
Dynomerk Controls                       BG                 CRISIL A4+     30      Upgraded from
                                                                                  CRISIL A4
Eleganz Interiors Pvt Ltd               BG                 CRISIL A3      210     Reaffirmed
Fluid Controls Pvt Ltd                  Export Bill        CRISIL A3      20      Assigned
                                        Purchase
                                        -Discounting
Fluid Controls Pvt Ltd                  BG                 CRISIL A3      45      Assigned
Frontline Exports Pvt Ltd               Packing Credit     CRISIL A4+     50      Reaffirmed
Globe Textiles India Ltd                Packing Credit in  CRISIL A4+     250     Reaffirmed
                                        Foreign Currency
Hindalco Industries Ltd                 ST Debt (Including CRISIL A1+     24000   Reaffirmed
                                        CP)
Jumbo Bag Ltd                           BG                 CRISIL A4+     64      Reaffirmed
Jumbo Bag Ltd                           LOC                CRISIL A4+     90      Reaffirmed
Mirza International Ltd                 BG                 CRISIL A1      5       Reaffirmed
Mirza International Ltd                 Bill Discounting   CRISIL A1      1900    Reaffirmed
Mirza International Ltd                 LOC                CRISIL A1      500     Reaffirmed
Mirza International Ltd                 Packing Credit     CRISIL A1      1200    Reaffirmed
Mirza International Ltd                 CP                 CRISIL A1      500     Reaffirmed
Natural Products Export Corporation Ltd Export Packing     CRISIL A4      92.5    Reaffirmed
                                        Credit
Natvar Construction Co                  BG                 CRISIL A3      100     Assigned
Nirmal Inductocast Pvt Ltd              LOC                CRISIL A4+     20      Assigned
Rex Ceramic Pvt Ltd                     BG                 CRISIL A4+     16      Migrated from
                                                                                  CRISIL A4
                                                                                  ISSUER NOT
COOPERATING*
Shoe Variants Pvt Ltd                   LOC                CRISIL A3      20      Reaffirmed
Shriram Transport Finance Co. Ltd       BG                 CRISIL A1+     15796.3 -
Shriram Transport Finance Co. Ltd       ST Bk Fac          CRISIL A1+     25812.5 -
Shriram Transport Finance Co. Ltd       CP                 CRISIL A1+     75000   -
Somani Fabrics Pvt Ltd                  Packing Credit     CRISIL A4+     7.2     Migrated from
                                                                                  CRISIL A4+
ISSUER NOT COOPERATING
Tata Motors Finance Solutions Ltd       CP Programme       CRISIL A1+     25000   CRISIL A1+
Tata Motors Finance Solutions Ltd       CP Programme       CRISIL A1+     25000   -
Tega Industries Ltd                     LOC#               CRISIL A2      620     Reaffirmed
#Fully interchangeable with letter of credit, bank guarantee, and buyer's credit.
Tega Industries Ltd                     Proposed LOC       CRISIL A2      50      Reaffirmed
Tega Industries Ltd                     LOC & BG           CRISIL A2      405.8   Reaffirmed
Thomas Constructions Pvt Ltd            BG                 CRISIL A4+     21      Upgraded from
                                                                                  CRISIL A4
U.P Asbestos Ltd.                       BG                 CRISIL A4      2.82    Reaffirmed

MEDIUM TERM RATINGS:
-------------------
Shriram Transport Finance Co. Ltd       FD Programme       FAAA           -       -

LONG TERM RATINGS:
-------------------
Akashdeep Construction Co               CC                 CRISIL BB-     20      Upgraded from
                                                                                  CRISIL B+
Akashdeep Construction Co               Loan Against       CRISIL BB-     13.5    Upgraded from
                                        Property                                  CRISIL B+
Akashdeep Construction Co               Proposed BG        CRISIL BB-     46.5    Upgraded from
                                                                                  CRISIL B+
Alpha Packaging Pvt Ltd                 TL                 CRISIL BBB+    122.6   Assigned
Alpha Packaging Pvt Ltd                 Proposed LT Bk     CRISIL BBB+    29.4    Assigned
                                        Loan Fac
Alpha Packaging Pvt Ltd                 CC                 CRISIL BBB+    130     Assigned
Anmol Steel Processors Pvt Ltd          CC                 CRISIL D       50      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
ISSUER NOT COOPERATING
Anmol Steel Processors Pvt Ltd          Channel Financing  CRISIL D       500     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
ISSUER NOT COOPERATING
Anmol Steel Processors Pvt Ltd          LOC                CRISIL D       750     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
ISSUER NOT COOPERATING
Begorra Infrastructure and Developers   CC                 CRISIL BB      275     Reaffirmed
Pvt Ltd
Bhagwati Diamonds Pvt Ltd               CC                 CRISIL B+      100     Reaffirmed
Bhagwati Diamonds Pvt Ltd               Proposed CC Limit  CRISIL B+      15      Reaffirmed
Bliss GVS Pharma Ltd                    Bill Discounting   CRISIL BBB     500     Reaffirmed
Removed from Rating Watch with Developing Implications
Bliss GVS Pharma Ltd                    CC                 CRISIL BBB     100     Reaffirmed
Removed from Rating Watch with Developing Implications
Bliss GVS Pharma Ltd                    LT Loan            CRISIL BBB     100     Reaffirmed
Removed from Rating Watch with Developing Implications

Dlords Footwear and Fashions Pvt Ltd    CC                 CRISIL B+      5       Reaffirmed
Dynomerk Controls                       CC                 CRISIL BB-     40      Upgraded from
                                                                                  CRISIL B+
Dynomerk Controls                       Proposed LT Bk     CRISIL BB-     5       Upgraded from
                                        Loan Fac                                  CRISIL B+
Dynomerk Controls                       TL                 CRISIL BB-     5       Upgraded from
                                                                                  CRISIL B+
Eleganz Interiors Pvt Ltd               CC                 CRISIL BBB-    195     Reaffirmed
Fluid Controls Pvt Ltd                  TL                 CRISIL BBB-    9.4     Assigned
Fluid Controls Pvt Ltd                  Proposed LT Bk     CRISIL BBB-    0.1     Assigned
                                        Loan Fac
Fluid Controls Pvt Ltd                  CC                 CRISIL BBB-    93.5    Assigned
Frontline Exports Pvt Ltd               Foreign Bill       CRISIL BB      20      Reaffirmed
                                        Discounting
Frontline Exports Pvt Ltd               Proposed LT Bk     CRISIL BB      10      Reaffirmed
                                        Loan Fac
Frontline Exports Pvt Ltd               TL                 CRISIL BB      20      Reaffirmed
Globe Textiles India Ltd                CC                 CRISIL BB+     250     Reaffirmed
Globe Textiles India Ltd                TL                 CRISIL BB+     50      Reaffirmed
Greeshmam Resorts Pvt Ltd               TL                 CRISIL BB-     185     Reaffirmed
Hillcrest Foods                         CC                 CRISIL D       150     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
ISSUER NOT COOPERATING
Hindalco Industries Ltd                 NCD                CRISIL AA      14000   Reaffirmed
Hindalco Industries Ltd                 NCD                CRISIL AA      15000   Reaffirmed
Hindalco Industries Ltd                 NCD                CRISIL AA      30000   Reaffirmed
Hindalco Industries Ltd                 NCD                CRISIL AA      1000    Reaffirmed
Jagdish Rice Mills                      CC                 CRISIL BB+     200     Reaffirmed
Jumbo Bag Ltd                           CC                 CRISIL BB-     385     Reaffirmed
Jumbo Bag Ltd                           Foreign Bill       CRISIL BB-     92.5    Reaffirmed
                                        Discounting
Jumbo Bag Ltd                           LT Loan            CRISIL BB-     10.7    Reaffirmed
Jumbo Bag Ltd                           Proposed LT Bk     CRISIL BB-     22.8    Reaffirmed
                                        Loan Fac
KSR Cotton Agencies                     CC                 CRISIL D       49      Downgraded
                                                                                  from CRISIL B+
ISSUER NOT COOPERATING
KSR Cotton Agencies                     Proposed LT Bk     CRISIL D       51      Downgraded
                                        Loan Fac                                  from CRISIL B+
ISSUER NOT COOPERATING
Manaf P.B.                              BG                 CRISIL D       3.5     Downgraded
                                                                                  from CRISIL A4
Manaf P.B.                              CC                 CRISIL D       5.9     Downgraded
                                                                                  from CRISIL B+
Manaf P.B.                              Proposed LT Bk     CRISIL D       1.6     Downgraded
                                        Loan Fac                                  from CRISIL B+
Milky Mist Dairy Food Pvt Ltd           CC                 CRISIL BBB-    119.5   Reaffirmed
Milky Mist Dairy Food Pvt Ltd           LT Loan            CRISIL BBB-    212.1   Reaffirmed
Milky Mist Dairy Food Pvt Ltd           Proposed LT Bk     CRISIL BBB-    2153.6  Reaffirmed
                                        Loan Fac
Milky Mist Dairy Food Pvt Ltd           TL                 CRISIL BBB-    1602.9  Reaffirmed
Mirza International Ltd                 CC                 CRISIL A       1000    Reaffirmed
Mirza International Ltd                 Proposed LT Bk     CRISIL A       569.6   Reaffirmed
                                        Loan Fac
Mirza International Ltd                 TL                 CRISIL A       270.4   Reaffirmed
Mithra Cotton Enterprises               CC                 CRISIL D       49      Downgraded
                                                                                  from CRISIL B+
ISSUER NOT COOPERATING
Mithra Cotton Enterprises               Proposed CC Limit  CRISIL D       51      Downgraded
                                                                                  from CRISIL B+
ISSUER NOT COOPERATING
Natvar Construction Co                  CC                 CRISIL BBB-    70      Assigned
Nirmal Inductocast Pvt Ltd              CC                 CRISIL BB+     70      Reaffirmed
Nirmal Inductocast Pvt Ltd              Standby Line of    CRISIL BB+     10      Reaffirmed
                                        Credit
Nirmal Inductocast Pvt Ltd              TL                 CRISIL BB+     13      Reaffirmed
Punch Ratna Fasteners Pvt Ltd           CC*                CRISIL A-      280     Reaffirmed
*Can interchangeably used as non-fund based limits
Rex Ceramic Pvt Ltd                     CC                 CRISIL BB-     30      Migrated from
                                                                                  CRISIL
                                                                                  B+ISSUER NOT
COOPERATING*
Rex Ceramic Pvt Ltd                     Proposed LT Bk     CRISIL BB-     14      Migrated from
                                        Loan Fac                                  CRISIL
                                                                                  B+ISSUER NOT
COOPERATING*
Rex Ceramic Pvt Ltd                     TL                 CRISIL BB-     60      Migrated from
                                                                                  CRISIL
                                                                                  B+ISSUER NOT
COOPERATING*
Seven Star Grains Pvt Ltd               CC                 CRISIL B       220     Reaffirmed
Shoe Variants Pvt Ltd                   CC                 CRISIL BBB-    40      Reaffirmed
Shoe Variants Pvt Ltd                   Proposed LT Bk     CRISIL BBB-    5.5     Reaffirmed
                                        Loan Fac
Shoe Variants Pvt Ltd                   TL                 CRISIL BBB-    4.5     Reaffirmed
Shree Siddhivinayak Cotspin Pvt Ltd     CC                 CRISIL BBB     450     Reaffirmed
Shree Siddhivinayak Cotspin Pvt Ltd     Proposed CC Limit  CRISIL BBB     60      Reaffirmed
Shree Siddhivinayak Cotspin Pvt Ltd     Standby FB Limits  CRISIL BBB     24      Reaffirmed
Shree Siddhivinayak Cotspin Pvt Ltd     TL                 CRISIL BBB     411     Reaffirmed
Shriram Transport Finance Co. Ltd       BG                 CRISIL AA+     5500    -
Shriram Transport Finance Co. Ltd       CC & WC demand loanCRISIL AA+     61175   -
Shriram Transport Finance Co. Ltd       LT Bk Fac@         CRISIL AA+     148128.3-
@Long term bank facilities of Rs 1243 crore transferred from Shriram Equipment Finance Company
Limited to Shriram Transport Finance Company Limited upon amalg
Shriram Transport Finance Co. Ltd       Proposed LT Bk     CRISIL AA+     106017.9-
                                        Loan Fac
Shriram Transport Finance Co. Ltd       NCD                CRISIL AA+     50000   -
Shriram Transport Finance Co. Ltd       NCD                CRISIL AA+     367800  -
Shriram Transport Finance Co. Ltd       Subordinated Debt  CRISIL AA+     20000   -
Shriram Transport Finance Co. Ltd       Subordinated Debt  CRISIL AA+     1317    -
                                        #
#Transferred from Shriram Equipment Finance Company Limited to Shriram Transport Finance Company
Limited upon amalgamation of the former with latter
Shriram Transport Finance Co. Ltd       Subordinated Debt  CRISIL AA+     15000   -
                                        Issue (Tier II)
                                        Bonds
Somani Fabrics Pvt Ltd                  Proposed LT Bk     CRISIL BB-     0.26    Migrated from
                                        Loan Fac                                  CRISIL BB-
ISSUER NOT COOPERATING
Suchitra Yarn Traders                   Overdraft          CRISIL BB+     100     Reaffirmed
Suchitra Yarn Traders                   Proposed CC Limit  CRISIL BB+     13      Reaffirmed
Suchitra Yarn Traders                   TL                 CRISIL BB+     17      Reaffirmed
Suchitraa Silk Pvt Ltd                  Overdraft          CRISIL BB+     100     Reaffirmed
Suchitraa Silk Pvt Ltd                  Proposed TL        CRISIL BB+     110     Reaffirmed
Sutapa International Exports Pvt Ltd    Gold Loan          CRISIL B+      80      Upgraded from
                                                                                  CRISIL B
Tata Motors Finance Solutions Ltd       NCD                CRISIL AA      15000   CRISIL AA
Tata Motors Finance Solutions Ltd       Subordinated Debt  CRISIL AA      2000    CRISIL AA
Tata Motors Finance Solutions Ltd       NCD                CRISIL AA      15000   -
Tata Motors Finance Solutions Ltd       Subordinated Debt  CRISIL AA      2000    -
Tega Industries (Sez) Ltd               CC*                CRISIL BBB+    500     Reaffirmed
*Interchangeable with non-fund-based bank facilities
Tega Industries (Sez) Ltd               LT Loan            CRISIL BBB+    330     Reaffirmed
Tega Industries Ltd                     CC^                CRISIL BBB+    580     Reaffirmed
^Fully interchangeable with export packing credit, packing credit in foreign currency, post
shipment in foreign currency, working capital demand loan & bill d
Tega Industries Ltd                     Proposed LT Bk     CRISIL BBB+    30      Reaffirmed
                                        Loan Fac
Thomas Constructions Pvt Ltd            Corporate Loan     CRISIL BB-     6.1     Upgraded from
                                                                                  CRISIL B+
Thomas Constructions Pvt Ltd            LT Loan            CRISIL BB-     0.7     Upgraded from
                                                                                  CRISIL B+
Thomas Constructions Pvt Ltd            Overdraft          CRISIL BB-     30      Upgraded from
                                                                                  CRISIL B+
Thomas Constructions Pvt Ltd            Proposed LT Bk     CRISIL BB-     42.2    Upgraded from
                                        Loan Fac                                  CRISIL B+
Tribhovandas Bhimji Zaveri Ltd          CC1                CRISIL BBB+    1830    Reaffirmed
Tribhovandas Bhimji Zaveri Ltd          CC2                CRISIL BBB+    435     Reaffirmed
Tribhovandas Bhimji Zaveri Ltd          CC3                CRISIL BBB+    700     Reaffirmed
Tribhovandas Bhimji Zaveri Ltd          CC4                CRISIL BBB+    750     Reaffirmed
Tribhovandas Bhimji Zaveri Ltd          CC5                CRISIL BBB+    830     Reaffirmed
Tribhovandas Bhimji Zaveri Ltd          CC6                CRISIL BBB+    1830    Reaffirmed
Tribhovandas Bhimji Zaveri Ltd          CC7                CRISIL BBB+    330     Reaffirmed
Tribhovandas Bhimji Zaveri Ltd          Proposed CC Limit  CRISIL BBB+    645     Reaffirmed
U.P Asbestos Ltd.                       CC                 CRISIL B       36.5    Upgraded from
                                                                                  CRISIL C
U.P Asbestos Ltd.                       LT Loan            CRISIL B       15.28   Upgraded from
                                                                                  CRISIL C
U.P Asbestos Ltd.                       Proposed LT Bk     CRISIL B       13.4    Upgraded from
                                        Loan Fac                                  CRISIL C
Viney Corporation Ltd                   CC                 CRISIL BBB+    450     Reaffirmed
Outlook revised from Stable
Viney Corporation Ltd                   FCNR (B) LT Loan   CRISIL BBB+    50      Reaffirmed
Outlook revised from Stable
--------------------------------------------------------------------------------------------
$: 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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