December 19, 2017 / 7:02 AM / a month ago

CRISIL ratings for Indian debt instruments-Dec 19

    Dec 19 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 18, 2017.


COMPANY                               INSTRUMENT           RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------           ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Analogic Controls India Ltd             LOC                CRISIL A4+     20      Migrated from
                                                                                  CRISIL A4
Issuer Not Cooperating
Apex Tarmac Pvt Ltd                     BG                 CRISIL A3+     1100    Reaffirmed
Century Textiles and Industries Ltd     Non-FBL            CRISIL A1+     11000   Reaffirmed
Century Textiles and Industries Ltd     Non-FBL            CRISIL A1+     11000   Reaffirmed
Century Textiles and Industries Ltd     CP Programme       CRISIL A1+     22000   Reaffirmed
Century Textiles and Industries Ltd     CP Programme       CRISIL A1+     22000   Reaffirmed
D.P.M.K. Fertilizers Pvt Ltd            BG                 CRISIL A4      5       Reaffirmed
Ganpati Industrial Pvt Ltd              BG                 CRISIL A2+     200     Reaffirmed
Habeeb Tanning Company                  Bill Discounting   CRISIL A3+     30      Reaffirmed
Habeeb Tanning Company                  LOC                CRISIL A3+     70      Reaffirmed
Habeeb Tanning Company                  Packing Credit     CRISIL A3+     10      Reaffirmed
Jekay International Track Pvt Ltd       BG                 CRISIL A2+     90      Reaffirmed
Jekay International Track Pvt Ltd       Packing Credit     CRISIL A2+     100     Reaffirmed
K N International Ltd                   BG                 CRISIL A4+     300     Reaffirmed
Khaja Moideen Leather Company           Export Bill        CRISIL A4      26.5    Reaffirmed
                                        Negotiation
Khaja Moideen Leather Company           Packing Credit     CRISIL A4      30      Reaffirmed
M/s. Sri Sai Construction               BG                 CRISIL A4+     120     Reaffirmed
Meet Associates Pvt Ltd                 BG                 CRISIL A4+     17.5    Assigned
Mutual Industries Ltd                   LOC & BG           CRISIL A1      30      Reaffirmed
Continues on 'Rating Watch with Negative Implications' 
New Diamond Fabtrends Pvt Ltd           Packing Credit     CRISIL A4      20      Assigned;
                                                                                  Suspension
                                                                                  Revoked
Polygon Chemicals Pvt Ltd               LOC                CRISIL A4+     10      Reaffirmed
R. V. Rail Products Pvt Ltd             BG                 CRISIL A2+     275     Reaffirmed
Span Associates                         BG                 CRISIL A4+     30      Assigned
Texmaco Hi-Tech Pvt Ltd                 BG                 CRISIL A3      150     Reaffirmed
Texmaco Hi-Tech Pvt Ltd                 LOC                CRISIL A3      100     Reaffirmed
VNR Constructions                       BG                 CRISIL A4+     45      Reaffirmed

LONG TERM RATINGS:
-------------------
Agarwal Fabtex Pvt Ltd                  CC                 CRISIL BB+     125     Upgraded from
                                                                                  CRISIL BB
Agarwal Fabtex Pvt Ltd                  Proposed LT Bk     CRISIL BB+     25      Upgraded from
                                        Loan Fac                                  CRISIL BB
Aligarh Roller Flour Mills Pvt Ltd      CC                 CRISIL B+      70      Assigned
Ambica Pulse Mill                       CC                 CRISIL B+      70      Assigned
Analogic Controls India Ltd             CC                 CRISIL BB+     96.1    Migrated from
                                                                                  CRISIL B+
Issuer Not Cooperating
Analogic Controls India Ltd             Proposed LT Bk     CRISIL BB+     83.9    Migrated from
                                        Loan Fac                                  CRISIL B+
Issuer Not Cooperating
Apex Tarmac Pvt Ltd                     CC                 CRISIL BBB     250     Reaffirmed
Aristo Transmission Pvt Ltd             CC                 CRISIL BB-     100     Reaffirmed
Aroma India Pvt Ltd                     TL                 CRISIL B+      108     Upgraded from
                                                                                  CRISIL B-
Baba Naga Agro Pvt Ltd                  CC*                CRISIL B+      150     Upgraded from
                                                                                  CRISIL B
*Includes the sub-limit for packing credit of Rs.10 crore.
Baba Naga Agro Pvt Ltd                  Proposed LT Bk     CRISIL B+      39      Upgraded from
                                        Loan Fac                                  CRISIL B
Baba Naga Agro Pvt Ltd                  TL                 CRISIL B+      156     Upgraded from
                                                                                  CRISIL B
Century Textiles and Industries Ltd     FB Fac             CRISIL AA-     15000   Reaffirmed
Placed on Rating Watch with Positive Implications
Century Textiles and Industries Ltd     Proposed LT Bk     CRISIL AA-     4858.3  Reaffirmed
                                        Loan Fac
Placed on Rating Watch with Positive Implications
Century Textiles and Industries Ltd     Rupee TL           CRISIL AA-     30624.7 Reaffirmed
Placed on Rating Watch with Positive Implications
Century Textiles and Industries Ltd     FB Fac             CRISIL AA-     15000   $
Century Textiles and Industries Ltd     Proposed LT Bk     CRISIL AA-     4858.3  $
Century Textiles and Industries Ltd     Rupee TL           CRISIL AA-     30624.7 $
Century Textiles and Industries Ltd     Convertible        CRISIL AA-     9000    $
                                        Debentures                                
Century Textiles and Industries Ltd     NCD                CRISIL AA-     9000    $
Coromandel Enterprises                  CC                 CRISIL B+      90      Reaffirmed
D.P.M.K. Fertilizers Pvt Ltd            CC                 CRISIL B+      115     Reaffirmed
Ganpati Industrial Pvt Ltd              CC                 CRISIL A-      70      Reaffirmed
Gourav Poultries India Pvt Ltd          CC                 CRISIL C       30      Revised from
                                                                                  CRISIL B
Issuer Not Cooperating
Gourav Poultries India Pvt Ltd          Proposed LT Bk     CRISIL C       13.3    Revised from
                                        Loan Fac                                  CRISIL B
Issuer Not Cooperating
Gourav Poultries India Pvt Ltd          TL                 CRISIL C       121.2   Revised from
                                                                                  CRISIL B
Issuer Not Cooperating
Habeeb Tanning Company                  Proposed LT Bk     CRISIL BBB     5       Reaffirmed
                                        Loan Fac
Jai Bhavani Poultry Farm                Rupee TL           CRISIL B+      15      Assigned
Jai Bhavani Poultry Farm                CC                 CRISIL B+      17.5    Assigned
Jai Bhavani Poultry Farm                Proposed LT Bk     CRISIL B+      27.5    Assigned
                                        Loan Fac
Jekay International Track Pvt Ltd       CC                 CRISIL A-      110     Reaffirmed
K N International Ltd                   CC                 CRISIL BB      23.6    Upgraded from
                                                                                  CRISIL BB-
K N International Ltd                   Overdraft          CRISIL BB      10      Upgraded from
                                                                                  CRISIL BB-
K N International Ltd                   TL                 CRISIL BB      190     Upgraded from
                                                                                  CRISIL BB-
K N International Ltd                   Proposed TL        CRISIL BB      26.4    Upgraded from
                                                                                  CRISIL BB-
Khaitan Paper and Packaging Pvt Ltd     CC                 CRISIL B+      20      Assigned
Khaitan Paper and Packaging Pvt Ltd     TL                 CRISIL B+      40      Assigned
Khaja Moideen Leather Company           CC                 CRISIL B+      10      Reaffirmed
Khaja Moideen Leather Company           TL                 CRISIL B+      24.4    Reaffirmed
Kridhan Infra Solutions Pvt Ltd         CC                 -              40      Withdrawal
Migrated from CRISIL B- /Issuer Not Cooperating
Kridhan Infra Solutions Pvt Ltd         LOC                -              20      Withdrawal
Migrated from CRISIL A4 /Issuer Not Cooperating
Kridhan Infra Solutions Pvt Ltd         Proposed LT Bk     -              54.8    Withdrawal
                                        Loan Fac
Migrated from CRISIL B-/Issuer Not Cooperating
Kridhan Infra Solutions Pvt Ltd         TL                 -              10.2    Withdrawal
Migrated from CRISIL B-/Issuer Not Cooperating
Krishna Impex                           CC                 CRISIL BB-     100     Assigned
M/s. Sri Sai Construction               Secured Overdraft  CRISIL BB+     10      Reaffirmed
                                        Fac
Meet Associates Pvt Ltd                 TL                 CRISIL BB-     12.7    Assigned
Meet Associates Pvt Ltd                 Electronic Dealer  CRISIL BB-     77.5    Assigned
                                        Financing
                                        Scheme(e-DFS)
Meet Associates Pvt Ltd                 CC                 CRISIL BB-     105     Assigned
Mutual Industries Ltd                   CC*                CRISIL A+      100     Reaffirmed
Continues on 'Rating Watch with Negative Implications' /*Interchangeable with letter of credit
and bank guarantee
Mutual Industries Ltd                   CC^                CRISIL A+      150     Reaffirmed
Continues on Rating Watch with Negative Implications /^Interchangeable with letter of credit and
bank guarantee of up to Rs 5 crore
Mutual Industries Ltd                   CC                 CRISIL A+      70      Reaffirmed
Continues on Rating Watch with Negative Implications 
Mutual Industries Ltd                   Proposed LT Bk     CRISIL A+      370     Reaffirmed
                                        Loan Fac
Continues on Rating Watch with Negative Implications
Mutual Industries Ltd                   TL                 CRISIL A+      480     Reaffirmed
Continues on Rating Watch with Negative Implications 
Mutual Industries Ltd                   WC TL              CRISIL A+      150     Reaffirmed
Continues on Rating Watch with Negative Implications
New Diamond Fabtrends Pvt Ltd           Buyer`s Credit     CRISIL B+      5       Assigned;
                                                                                  Suspension
                                                                                  Revoked
New Diamond Fabtrends Pvt Ltd           CC                 CRISIL B+      30      Assigned;
                                                                                  Suspension
                                                                                  Revoked
P G Industry Ltd                        Buyer`s Credit     CRISIL BB-     50      # 
P G Industry Ltd                        CC                 CRISIL BB-     150     # 
Polygon Chemicals Pvt Ltd               CC                 CRISIL BB-     70      Downgraded
                                                                                  from CRISIL BB
Priceless Overseas Ltd                  Buyer`s Credit     CRISIL BB-     22.5    Reaffirmed
Continues on 'Rating Watch with Developing Implications
Priceless Overseas Ltd                  CC                 CRISIL BB-     77.5    Reaffirmed
Continues on 'Rating Watch with Developing Implications
R. V. Rail Products Pvt Ltd             CC                 CRISIL A-      45      Reaffirmed
Rathi Feeds India Pvt Ltd               CC                 CRISIL C       114.5   Revised from
                                                                                  CRISIL B
Issuer Not Cooperating
Rathi Feeds India Pvt Ltd               Proposed LT Bk     CRISIL C       37.5    Revised from
                                        Loan Fac                                  CRISIL B
Issuer Not Cooperating
Rathi Feeds India Pvt Ltd               TL                 CRISIL C       28      Revised from
                                                                                  CRISIL B
Issuer Not Cooperating
Rathi Hatcheries Pvt Ltd                CC                 CRISIL D       65.5    Downgraded
                                                                                  from CRISIL B
Issuer Not Cooperating
Rathi Hatcheries Pvt Ltd                Proposed LT Bk     CRISIL D       9.5     Downgraded
                                        Loan Fac                                  from CRISIL B
Issuer Not Cooperating
Rathi Hatcheries Pvt Ltd                TL                 CRISIL D       45      Downgraded
                                                                                  from CRISIL B
Issuer Not Cooperating
Rayontex Yarn Traders Pvt Ltd           CC                 CRISIL BB+     75      Upgraded from
                                                                                  CRISIL BB
Rayontex Yarn Traders Pvt Ltd           Proposed LT Bk     CRISIL BB+     75      Upgraded from
                                        Loan Fac                                  CRISIL BB
Refulgent Ispat Pvt Ltd                 CC                 CRISIL BB-     55      Reaffirmed
Sai Srinivasa Cotton Industries         CC                 CRISIL B+      100     Reaffirmed
Sai Srinivasa Cotton Industries         Proposed FB Bk     CRISIL B+      2.6     Reaffirmed
                                        Limits
Sakti Steel Enterprises Pvt Ltd         CC                 CRISIL BB+     140     Reaffirmed
Sanket Properties Pvt Ltd               LT Loan            -              140     Reaffirmed
Sarra Motors Pvt Ltd                    CC                 CRISIL B+      40      Upgraded from
                                                                                  CRISIL B
Sarra Motors Pvt Ltd                    Proposed LT Bk     CRISIL B+      25.1    Upgraded from
                                        Loan Fac                                  CRISIL B
Sarra Motors Pvt Ltd                    WC Demand Loan     CRISIL B+      14.9    Upgraded from
                                                                                  CRISIL B
Shree Venkateshwara Shikshan Sanstha    TL                 CRISIL D       153.8   Reaffirmed
Span Associates                         Overdraft          CRISIL BB      36      Assigned
Span Associates                         CC                 CRISIL BB      34      Assigned
Sri Hanuma Enterprises                  CC                 CRISIL BB-     100     Reaffirmed
Supreme Glazes Pvt Ltd                  CC                 CRISIL B+      100     Reaffirmed
Supreme Glazes Pvt Ltd                  LT Bk Fac          CRISIL B+      18.5    Reaffirmed
Supreme Glazes Pvt Ltd                  Proposed LT Bk     CRISIL B+      11.5    Reaffirmed
                                        Loan Fac
Texmaco Hi-Tech Pvt Ltd                 CC*                CRISIL BBB-    150     Reaffirmed
* Interchangeable with Working Capital Demand Loan, Bills Discounting, Export Packing Credit,
Packing Credit in Foreign Currency, and Foreign Bills Discounting
Texmaco Hi-Tech Pvt Ltd                 Proposed TL        CRISIL BBB-    600     Reaffirmed
VNR Constructions                       Proposed LT Bk     CRISIL BB-     5       Reaffirmed
                                        Loan Fac
VNR Constructions                       Secured Overdraft  CRISIL BB-     75      Reaffirmed
                                        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)
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