December 15, 2017 / 6:01 AM / a month ago

CRISIL ratings for Indian debt instruments-Dec 15

   Dec 15 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 14, 2017.


COMPANY                                 INSTRUMENT         RATING        AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ajay Cotspin Industries                 BG                 CRISIL A4      45      Reaffirmed
Clix Capital Services Pvt Ltd           Proposed ST Bk     CRISIL A1+     6000    Reaffirmed
                                        Loan Fac
Clix Capital Services Pvt Ltd           CP*^               CRISIL A1+     6000    Reaffirmed
Enhanced from Rs.300 Crore; ^ Earlier STD (Including CP); * Aggregate rated 
debt not to exceed Rs.600 crore

Clix Capital Services Pvt Ltd           ST Debt*^          CRISIL A1+     6000    Reaffirmed
Enhanced from Rs.300 Crore; ^ Earlier STD (Including CP); * Aggregate rated 
debt not to exceed Rs.600 crore

Copprrod Industries Pvt Ltd             BG                 CRISIL A3+     10      Reaffirmed
Dilipkumar V. Lakhi                     Proposed ST Bk     CRISIL A1+     3000    Reaffirmed
                                        Loan Fac*
* As per the bank sanction terms, the proposed short-term bank loan facility
 can be either used in Dilipkumar V. Lakhi or in Vishindas Holaram or in both
East India Commercial Co Ltd            BG                 CRISIL A4+     10      Migrated from
                                                                                  CRISIL A3+* 
*Issuer did not cooperate; based on best-available information
East India Commercial Co Ltd            Inland/Import LOC  CRISIL A4+     70      Migrated from
                                                                                  CRISIL A3+* 
*Issuer did not cooperate; based on best-available information
Happy Forgings Ltd                      BG                 CRISIL A2+     5       Upgraded from
                                                                                  CRISIL A2
Happy Forgings Ltd                      LOC                CRISIL A2+     98      Upgraded from
                                                                                  CRISIL A2
MAF Clothing Pvt Ltd                    Foreign Exchange   CRISIL A3      26      Reaffirmed
                                        Forward
MAF Clothing Pvt Ltd                    Proposed LOC       CRISIL A3      20      Reaffirmed
MAF Clothing Pvt Ltd                    LOC                CRISIL A3      20      Reaffirmed
Maurya Printers Pvt Ltd                 Proposed ST Bk     CRISIL A4      3.4     Assigned
                                        Loan Fac
Ram Ratna Infrastructure Pvt Ltd        BG                 CRISIL A4+     45      -
Ram Ratna Infrastructure Pvt Ltd        LOC                CRISIL A4+     50      -
Shaijal T M                             BG                 CRISIL A4      15      Assigned
Sri Bajrang Jute Mills Ltd              BG                 CRISIL A4+     2       Migrated from
                                                                                  CRISIL A3+*
Issuer Not Cooperating
Sri Bajrang Jute Mills Ltd              LOC                CRISIL A4+     25      Migrated from
                                                                                  CRISIL A3+*  
*Issuer did not cooperate; based on best-available information
Sunita Impex Pvt Ltd                    BG                 CRISIL A4      7.5     Assigned
United Electricals and Transformers     BG                 CRISIL A4      30      Reaffirmed
Vadilal Industries Ltd                  BG                 A3             59.5    Withdrawal
Issuer Not Cooperating; Migrated from CRISIL A3 ; Rating Withdrawal*  
Vadilal Industries Ltd                  LOC                A3             77.5    Withdrawal
Issuer Not Cooperating; Migrated from CRISIL A3 ; Rating Withdrawal*  
Vasu Enterprises                        BG                 CRISIL A4+     150     Reaffirmed
Vax Consultants Pvt Ltd                 BG                 CRISIL A4      40      Assigned
Vishindas Holaram                       Proposed ST Bk     CRISIL A1+     3000    Reaffirmed
                                        Loan Fac*
* As per the bank sanction terms, the short-term bank loan facility can be either
 used in Dilipkumar V. Lakhi or in Vishindas Holaram or in both


MEDIUM TERM RATINGS:
-------------------
Vadilal Enterprises Ltd                 FD                 FB+            60      Migrated from
                                                                                  FA-
Issuer Not Cooperating;
Vadilal Industries Ltd                  FD                 FB+            150     Migrated from
                                                                                  FA-
Issuer Not Cooperating

LONG TERM RATINGS:
-------------------
Abharan Jewellers Pvt Ltd               CC                 CRISIL BBB+    200     Upgraded from
                                                                                  CRISIL
                                                                                  BBB/Positive
Abharan Jewellers Pvt Ltd               TL                 CRISIL BBB+    35      Upgraded from
                                                                                  CRISIL
                                                                                  BBB/Positive
Ajay Cotspin Industries                 CC                 CRISIL B+      80      Upgraded from
                                                                                  CRISIL B
Ajay Cotspin Industries                 LT Loan            CRISIL B+      530     Upgraded from
                                                                                  CRISIL B 
Ajay Cotspin Industries                 Proposed LT Bk     CRISIL B+      32.5    Upgraded from
                                        Loan Fac                                  CRISIL B
Atul Auto Ltd                           CC                 CRISIL A       150     Reaffirmed
Chirakekaren Glass House Pvt Ltd        CC                 CRISIL B-      60      Reaffirmed
Chirakekaren Glass House Pvt Ltd        Loan Against       CRISIL B-      41.6    Reaffirmed
                                        Property
Chirakekaren Glass House Pvt Ltd        LT Loan            CRISIL B-      40      Reaffirmed
Chirakekaren Glass House Pvt Ltd        WC TL              CRISIL B-      38.4    Reaffirmed
Copprrod Industries Pvt Ltd             Bill Discounting   CRISIL BBB     150     Reaffirmed
Copprrod Industries Pvt Ltd             CC                 CRISIL BBB     270     Reaffirmed
East India Commercial Co Ltd            CC                 CRISIL BB      395     Migrated from
                                                                                  CRISIL
                                                                                  BBB/Negative*
*Issuer did not cooperate; based on best-available information

East India Commercial Co Ltd            LT Loan            CRISIL BB      50      Migrated from
                                                                                  CRISIL
                                                                                  BBB/Negative*
*Issuer did not cooperate; based on best-available information

East India Commercial Co Ltd            Proposed LT Bk     CRISIL BB      47.8    Migrated from
                                        Loan Fac                                  CRISIL
                                                                                  BBB/Negative*
*Issuer did not cooperate; based on best-available information

Go Fashion (India) Pvt Ltd              CC                 CRISIL BBB-    200     Reaffirmed
Enhanced from Rs.10 Crore

Happy Forgings Ltd                      LT Loan            CRISIL A-      1847    Upgraded 
                                                                                  from
                                                                                  CRISIL
                                                                                  BBB+ 
Happy Forgings Ltd                      Proposed CC Limit  CRISIL A-      750     Upgraded
                                                                                  from
                                                                                  CRISIL
                                                                                  BBB+ 
MAF Clothing Pvt Ltd                    Proposed WC Fac    CRISIL BBB-    222.6   Reaffirmed
MAF Clothing Pvt Ltd                    Packing Credit     CRISIL BBB-    560     Reaffirmed
MAF Clothing Pvt Ltd                    LT Loan            CRISIL BBB-    171.4   Reaffirmed
Maurya Printers Pvt Ltd                 CC                 CRISIL B       56      Reaffirmed
Maurya Printers Pvt Ltd                 LT Loan            CRISIL B       30.6    Assigned
Mithila Motors Pvt Ltd                  CC                 CRISIL BB      300     Reaffirmed
Mithila Motors Pvt Ltd                  Inventory Funding  CRISIL BB      152.2   Reaffirmed
                                        Fac
Mithila Motors Pvt Ltd                  TL                 CRISIL BB      47.8    Reaffirmed
N. Ravichandran                         CC/ Overdraft Fac  CRISIL B+      50      Assigned
Narbada Dairy Foods And Farms Pvt Ltd   CC                 CRISIL B       10      Upgraded 
                                                                                  from
                                                                                  CRISIL D
Narbada Dairy Foods And Farms Pvt Ltd   Proposed LT Bk     CRISIL B       65      Upgraded 
                                        Loan Fac                                  from
                                                                                  CRISIL D
Narbada Dairy Foods And Farms Pvt Ltd   TL                 CRISIL B       79.4    Upgraded
                                                                                  from
                                                                                  CRISIL D
Navabharat Ltd                          CC                 CRISIL BBB     80      Reaffirmed
Navabharat Ltd                          Drop Line          CRISIL BBB     75      Reaffirmed
                                        Overdraft Fac
Navabharat Ltd                          LT Loan            CRISIL BBB     345     Reaffirmed
Prem Infracity Pvt Ltd                  LT Loan            CRISIL D       280     Reaffirmed
Migrated from CRISIL D
Ram Ratna Infrastructure Pvt Ltd        CC                 CRISIL BB+     50      -
Ram Ratna Infrastructure Pvt Ltd        FB Fac             CRISIL BB+     100     -
Ram Ratna Infrastructure Pvt Ltd        Proposed LT Bk     CRISIL BB+     62.5    -
                                        Loan Fac
Ram Ratna Infrastructure Pvt Ltd        LT Loan            CRISIL BB+     180     -
Regency Hospital Ltd                    CC                 CRISIL BBB-    174     Assigned
Suspension Revoked
Regency Hospital Ltd                    Proposed TL        CRISIL BBB-    18.7    Assigned
Suspension Revoked
Regency Hospital Ltd                    TL                 CRISIL BBB-    507.3   Assigned
Suspension Revoked
Shaijal T M                             Proposed LT Bk     CRISIL B+      30      Assigned
                                        Loan Fac
Shaijal T M                             CC                 CRISIL B+      35      Assigned
Sri Bajrang Jute Mills Ltd              CC                 CRISIL BB      223     Migrated 
                                                                                  from
                                                                                  CRISIL
                                                                                  BBB/Negative*
*Issuer did not cooperate; based on best-available information
Sri Bajrang Jute Mills Ltd              LT Loan            CRISIL BB      15      Migrated from
                                                                                  CRISIL
                                                                                  BBB/Negative* 
*Issuer did not cooperate; based on best-available information
Sri Bajrang Jute Mills Ltd              Proposed LT Bk     CRISIL BB      64.3    Migrated from
                                        Loan Fac                                  CRISIL
                                                                                  BBB/Negative* 
*Issuer did not cooperate; based on best-available information
Subasri Textile                         CC                 CRISIL B+      18.5    Assigned
Subasri Textile                         Export Packing     CRISIL B+      35      Assigned
                                        Credit
Sunita Impex Pvt Ltd                    Proposed LT Bk     CRISIL B-      0.5     Assigned
                                        Loan Fac
Sunita Impex Pvt Ltd                    Foreign LOC        CRISIL B-      10      Assigned
Sunita Impex Pvt Ltd                    Export Packing     CRISIL B-      30      Assigned
                                        Credit
Sunita Impex Pvt Ltd                    Bill Discounting   CRISIL B-      62      Assigned
Sunlife Infratech                       CC                 CRISIL B+      100     Reaffirmed
United Electricals and Transformers     CC                 CRISIL B+      60      Reaffirmed
United Electricals and Transformers     Proposed LT Bk     CRISIL B+      20      Reaffirmed
                                        Loan Fac
Vadilal Industries Ltd                  Bill Discounting   BBB-           20      Withdrawal
Issuer Not Cooperating; Migrated from CRISIL BBB- ; Rating Withdrawal*  
Vadilal Industries Ltd                  CC                 BBB-           383.8   Withdrawal
Issuer Not Cooperating; Migrated from CRISIL BBB- ; Rating Withdrawal*  
Vadilal Industries Ltd                  Export Packing     BBB-           192.9   Withdrawal
                                        Credit
Issuer Not Cooperating; Migrated from CRISIL BBB- ; Rating Withdrawal*  
Vadilal Industries Ltd                  Proposed LT Bk     BBB-           507.9   Withdrawal
                                        Loan Fac
Issuer Not Cooperating; Migrated from CRISIL BBB- ; Rating Withdrawal*  
Vadilal Industries Ltd                  TL                 BBB-           608.4   Withdrawal
Issuer Not Cooperating; Migrated from CRISIL BBB- ; Rating Withdrawal*  
Vasavi Infrastructure Projects Ltd      LT Loan            CRISIL B       60      Assigned
Vasu Enterprises                        CC                 CRISIL BB+     140     Reaffirmed
VAX Consultants Pvt Ltd                 Secured Overdraft  CRISIL B+      25      Assigned
                                        Fac
--------------------------------------------------------------------------------------------
$: 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