December 27, 2017 / 5:45 AM / 6 months ago

CRISIL ratings for Indian debt instruments-Dec 27

    Dec 27 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 26, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Adroit Structural Engineers Pvt Ltd     BG                 CRISIL A4+     25      Migrated from
                                                                                  CRISIL A4+
Issuer Not Cooperating
Amps Engineering and Equipments Pvt Ltd BG                 CRISIL A4      50      Migrated
Issuer Not Cooperating
Anugrah Stock And Broking Pvt Ltd       BG                 CRISIL A4+     110     Migrated
Issuer Not Cooperating
Array Stone Hub Pvt Ltd                 Export Packing     CRISIL A4+     12      Assigned
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
ASL Industries Ltd                      BG                 CRISIL A4+     20      Reaffirmed
Bajaj Auto Ltd                          BG                 CRISIL A1+     900     Reaffirmed
Bajaj Auto Ltd                          LOC                CRISIL A1+     2000    Reaffirmed
Bajaj Auto Ltd                          Proposed BG        CRISIL A1+     34100   Reaffirmed
Bajaj Finance Ltd                       ST Bk Fac          CRISIL A1+     3750    -
Bajaj Finance Ltd                       CP                 CRISIL A1+     150000
Bharat Construction Company ( Bombay)   BG                 CRISIL A4+     50      Reaffirmed
Chola Textiles Pvt Ltd                  BG                 CRISIL A2      5.5     Reaffirmed
Chola Textiles Pvt Ltd                  LOC                CRISIL A2      20      Reaffirmed
Chola Textiles Pvt Ltd                  ST Loan            CRISIL A2      50      Reaffirmed
Diamond Infra Constructions Pvt Ltd     BG                 CRISIL A4+     22.5    Upgraded from
                                                                                  CRISIL A4
Essel Marketing and Promotions Pvt Ltd  LOC                CRISIL A3      25      Assigned;
                                                                                  Suspension
                                                                                  Revoked
Excel Cotspin India Pvt Ltd             BG                 CRISIL A2      3.7     Reaffirmed
G.M. Dalui and Sons Pvt Ltd             BG*                CRISIL A4      90      Reaffirmed
*Bank guarantee has sublimit of Rs 3 crore for letter of credit
G.M. Dalui and Sons Pvt Ltd             Bill Discounting   CRISIL A4      40      Reaffirmed
Housing Development Finance Corporation CP                 CRISIL A1+     750000  Reaffirmed
Ltd
Jay Ushin Ltd                           Sales Bill         CRISIL A3+     650     Reaffirmed
                                        Discounting
Kamadhenu Feeds Pvt Ltd                 BG                 CRISIL A4+     5       Assigned
Komal Singh Kothari Rajendra Singh      Overdraft          CRISIL A4+     74      Assigned
Kothari
M. M. Yarns Pvt Ltd                     BG                 CRISIL A4+     50      Assigned;
                                                                                  Suspension
                                                                                  Revoked
Mahesh Value Products Pvt Ltd           LOC                CRISIL A4+     40      Upgraded from
                                                                                  CRISIL A4
Maria Rug International                 Bill Purchase      CRISIL A4      34      Reaffirmed
Maria Rug International                 Packing Credit     CRISIL A4      20      Reaffirmed
MECh Engineers                          BG                 CRISIL A4+     60      Reaffirmed
Mridhul Timbers Pvt Ltd                 LOC                CRISIL A4      80      Reaffirmed
N. S. Nayak and Sons                    BG                 CRISIL A4+     220     Reaffirmed
P. J. Exports                           LOC                CRISIL A4      25      Reaffirmed
Pallava Spinning Mills Pvt Ltd          BG                 CRISIL A2      20      Reaffirmed
Pandian Textile Mills Pvt Ltd           BG                 CRISIL A2      70      Reaffirmed
Raj Corporation Ltd                     BG                 CRISIL A3      765     Reaffirmed
Raj Corporation Ltd                     Overdraft          CRISIL A3      50      Reaffirmed
Rajamane Industries Pvt Ltd             LOC Bill           CRISIL A4+     15      Reassigned
                                        Discounting
Sri Krishna Timber Mart & Saw Mill      Bills - Inland     CRISIL A4      7.5     Reaffirmed
Sri Krishna Timber Mart & Saw Mill      Inland/Import LOC  CRISIL A4      50      Reaffirmed
Sukaso Ceracolors Pvt Ltd               LOC                CRISIL A3      100     Reaffirmed
Taj Leather Works                       Packing Credit     CRISIL A4      22      Reaffirmed
Taj Leather Works                       Post Shipment      CRISIL A4      27      Reaffirmed
                                        Credit
Tecco Ceramics                          BG                 CRISIL A4+     5       Reaffirmed
Vizag Exports                           Export Packing     CRISIL A4      120     Reaffirmed
                                        Credit
MEDIUM TERM RATINGS:
-------------------
Bajaj Auto Ltd                          FD                 FAAA           -       Reaffirmed
Bajaj Finance Ltd                       FD Programme       FAAA           -       -
Housing Development Finance Corporation FD                 FAAA           -       Reaffirmed
Ltd
                                        
LONG TERM RATINGS:
-------------------
Adroit Structural Engineers Pvt Ltd     Overdraft          CRISIL BB      50      Migrated from
                                                                                  CRISIL BB
Issuer Not Cooperating
Adroit Structural Engineers Pvt Ltd     Proposed LT Bk     CRISIL BB      8.9     Migrated from
                                        Loan Fac                                  CRISIL BB
Issuer Not Cooperating
Amps Engineering and Equipments Pvt Ltd CC                 CRISIL B       40      Migrated
Issuer Not Cooperating
Amps Engineering and Equipments Pvt Ltd Proposed LT Bk     CRISIL B       4.2     Migrated
                                        Loan Fac
Issuer Not Cooperating
Anugrah Stock And Broking Pvt Ltd       Overdraft          CRISIL BB-     140     Migrated
Issuer Not Cooperating
Array Stone Hub Pvt Ltd                 Export Packing     CRISIL BB      48      Assigned
                                        Credit
ASL Industries Ltd                      CC                 CRISIL BB      85      Reaffirmed
ASL Industries Ltd                      LT Loan            CRISIL BB      30      Reaffirmed
ASL Industries Ltd                      Proposed LT Bk     CRISIL BB      165     Reaffirmed
                                        Loan Fac
Bajaj Auto Ltd                          CC                 CRISIL AAA     500     Reaffirmed
Bajaj Finance Ltd                       CC & WC demand loanCRISIL AAA     30500   -
Bajaj Finance Ltd                       LT Bk Fac          CRISIL AAA     105250  -
Bajaj Finance Ltd                       Proposed LT Bk     CRISIL AAA     70500   -
                                        Loan Fac
Bajaj Finance Ltd                       NCD                CRISIL AAA     50000   -
Bajaj Finance Ltd                       NCD                CRISIL AAA     70000   -
Bajaj Finance Ltd                       NCD                CRISIL AAA     30000   -
Bajaj Finance Ltd                       NCD                CRISIL AAA     70528   -
Bajaj Finance Ltd                       Subordinated Debt  CRISIL AAA     20000   -
Bajaj Finance Ltd                       Subordinated Debt  CRISIL AAA     5000    -
Bajaj Finance Ltd                       Subordinated Debt  CRISIL AAA     1000    -
Bajaj Finance Ltd                       Lower Tier-II      CRISIL AAA     7000    -
                                        Bonds
Bharat Construction Company ( Bombay)   CC                 CRISIL BB-     50      Reaffirmed
Bharat Construction Company ( Bombay)   Proposed LT Bk     CRISIL BB-     23.4    Reaffirmed
                                        Loan Fac
Bharat Construction Company ( Bombay)   TL                 CRISIL BB-     66.6    Reaffirmed
Caritas Healthcare Pvt Ltd              CC                 -              20      Withdrawal
Issuer Not Cooperating
Caritas Healthcare Pvt Ltd              Export Packing     -              60      Withdrawal
                                        Credit
Issuer Not Cooperating
Chola Textiles Pvt Ltd                  CC                 CRISIL BBB+    200     Reaffirmed
Chola Textiles Pvt Ltd                  Proposed LT Bk     CRISIL BBB+    25.2    Reaffirmed
                                        Loan Fac
Dairy Classic Ice Creams Pvt Ltd        CC                 CRISIL BBB+    60      Reaffirmed
Dairy Classic Ice Creams Pvt Ltd        Cash TL            CRISIL BBB+    70      Reaffirmed
Dairy Classic Ice Creams Pvt Ltd        Proposed LT Bk     CRISIL BBB+    390     Reaffirmed
                                        Loan Fac
Designer Exports                        CC                 CRISIL B-      60      Reaffirmed
Designer Exports                        Proposed LT Bk     CRISIL B-      40      Reaffirmed
                                        Loan Fac
Diamond Infra Constructions Pvt Ltd     CC                 CRISIL BB-     40      Upgraded from
                                                                                  CRISIL B+
Diamond Infra Constructions Pvt Ltd     Proposed WC Fac    CRISIL BB-     17.5    Upgraded from
                                                                                  CRISIL B+
Essel Marketing and Promotions Pvt Ltd  CC                 CRISIL BBB-    115     Assigned;
                                                                                  Suspension
                                                                                  Revoked
Excel Cotspin India Pvt Ltd             CC                 CRISIL BBB+    125     Reaffirmed
G.M. Dalui and Sons Pvt Ltd             CC                 CRISIL B-      60      Reaffirmed
Gauravh Wines Pvt Ltd                   CC                 CRISIL B       100     Reaffirmed
Gayatri Rolling Mills Pvt Ltd           CC                 CRISIL B+      70      -
Gayatri Rolling Mills Pvt Ltd           TL                 CRISIL B+      15.9    -
Housing Development Finance Corporation NCD Issue          CRISIL AAA     350000  Reaffirmed
Ltd
Housing Development Finance Corporation NCDs               CRISIL AAA     1208842 Reaffirmed
Ltd
(Reduced from Rs.190072 Crores)
Housing Development Finance Corporation Bonds              CRISIL AAA     375     Reaffirmed
Ltd
(Reduced from Rs.46.5 crores)
Housing Development Finance Corporation Subordinated Debt  CRISIL AAA     55000   Reaffirmed
Ltd
(Reduced from Rs.5975 Crores)
Jay Ushin Ltd                           Foreign Currency TLCRISIL BBB     140     Reaffirmed
Jay Ushin Ltd                           TL                 CRISIL BBB     460     Reaffirmed
Kamadhenu Feeds Pvt Ltd                 LT Loan            CRISIL BB      120     Migrated from
                                                                                  CRISIL BB
Issuer Not Cooperating
Kamadhenu Feeds Pvt Ltd                 CC                 CRISIL BB      195     Migrated from
                                                                                  CRISIL BB
Issuer Not Cooperating
Komal Singh Kothari Rajendra Singh      TL                 CRISIL BB-     2.5     Assigned
Kothari
Komal Singh Kothari Rajendra Singh      Proposed LT Bk     CRISIL BB-     23.5    Assigned
Kothari                                 Loan Fac
Le Merite Exports Pvt Ltd               Export Packing     CRISIL BB+     325     Reaffirmed
                                        Credit
Le Merite Exports Pvt Ltd               Proposed LT Bk     CRISIL BB+     25      Reaffirmed
                                        Loan Fac
M. M. Yarns Pvt Ltd                     CC                 CRISIL BB+     250     Assigned;
                                                                                  Suspension
                                                                                  Revoked
M. M. Yarns Pvt Ltd                     LT Loan            CRISIL BB+     906.4   Assigned;
                                                                                  Suspension
                                                                                  Revoked
M. M. Yarns Pvt Ltd                     Proposed LT Bk     CRISIL BB+     53.6    Assigned;
                                        Loan Fac                                  Suspension
                                                                                  Revoked
Mahakaushal Sugar and Power Industries  CC                 CRISIL BBB-    50      Upgraded from
Ltd                                                                               CRISIL BB+
Mahakaushal Sugar and Power Industries  LT Loan            CRISIL BBB-    134.1   Upgraded from
Ltd                                                                               CRISIL BB+
Mahakaushal Sugar and Power Industries  Proposed LT Bk     CRISIL BBB-    8.9     Upgraded from
Ltd                                     Loan Fac                                  CRISIL BB+
Mahakaushal Sugar and Power Industries  Sugar Pledge CC    CRISIL BBB-    295     Upgraded from
Ltd                                                                               CRISIL BB+
Mahakaushal Sugar and Power Industries  TL                 CRISIL BBB-    12      Upgraded from
Ltd                                                                               CRISIL BB+
Mahesh Value Products Pvt Ltd           CC                 CRISIL BB      149     Upgraded from
                                                                                  CRISIL B+
Mahesh Value Products Pvt Ltd           LT Loan            CRISIL BB      11.5    Upgraded from
                                                                                  CRISIL B+
Mahesh Value Products Pvt Ltd           Proposed LT Bk     CRISIL BB      64      Upgraded from
                                        Loan Fac                                  CRISIL B+
Maria Rug International                 Proposed LT Bk     CRISIL B-      16      Reaffirmed
                                        Loan Fac
MECh Engineers                          CC                 CRISIL BB-     40      Downgraded
                                                                                  from CRISIL BB
MECh Engineers                          Proposed LT Bk     CRISIL BB-     6.7     Downgraded
                                        Loan Fac                                  from CRISIL BB
MECh Engineers                          TL                 CRISIL BB-     33.3    Downgraded
                                                                                  from CRISIL BB
Mridhul Timbers Pvt Ltd                 CC                 CRISIL B       65      Reaffirmed
Mridhul Timbers Pvt Ltd                 Proposed LT Bk     CRISIL B       5       Reaffirmed
                                        Loan Fac
Musaddilal Gems And Jewels (India) Pvt  Secured Overdraft  CRISIL B+      130     Assigned
Ltd                                     Fac
N. S. Nayak and Sons                    Overdraft          CRISIL BB+     20      Reaffirmed
N. S. Nayak and Sons                    TL                 CRISIL BB+     40      Reaffirmed
P. J. Exports                           CC                 CRISIL B-      105     Reaffirmed
P. J. Exports                           Foreign Bill       CRISIL B-      40      Reaffirmed
                                        Discounting
P. J. Exports                           Packing Credit     CRISIL B-      60      Reaffirmed
P. J. Exports                           Proposed LT Bk     CRISIL B-      10      Reaffirmed
                                        Loan Fac
P.S.Earthmovers Pvt Ltd                 Electronic Dealer  CRISIL B       180     Assigned
                                        Financing
                                        Scheme(e-DFS)
Pallava Spinning Mills Pvt Ltd          CC                 CRISIL BBB+    400     Reaffirmed
Pallava Spinning Mills Pvt Ltd          Proposed WC Fac    CRISIL BBB+    615.3   Reaffirmed
Pandian Textile Mills Pvt Ltd           CC                 CRISIL BBB+    210     Reaffirmed
Pearl Distillery Ltd                    CC                 CRISIL BB+     700     Reaffirmed
Pearl Distillery Ltd                    LT Loan            CRISIL BB+     122.8   Reaffirmed
Pearl Distillery Ltd                    Proposed LT Bk     CRISIL BB+     377.2   Reaffirmed
                                        Loan Fac
Pradhama Multi speciality Hospitals &   CC                 CRISIL B       115     Reaffirmed
Research Institute Ltd
Pradhama Multi speciality Hospitals &   LT Loan            CRISIL B       1310    Assigned
Research Institute Ltd
Raj Corporation Ltd                     CC                 CRISIL BBB-    50      Reaffirmed
Rajamane Industries Pvt Ltd             CC                 CRISIL BB      40      Reaffirmed
Rajamane Industries Pvt Ltd             TL                 CRISIL BB      95      Reaffirmed
Serene Senior Living Pvt Ltd            Cash TL            CRISIL BB      50      Migrated from
                                                                                  CRISIL BBB-
Issuer Not Cooperating
Serene Senior Living Pvt Ltd            Proposed LT Bk     CRISIL BB      50      Migrated from
                                        Loan Fac                                  CRISIL BBB-
Issuer Not Cooperating
Shree Umiya Cotspin Pvt Ltd             CC                 CRISIL BB      70      Assigned
Shree Umiya Cotspin Pvt Ltd             TL                 CRISIL BB      195     Assigned
Shrinivas (Gujarat) Laboratories Pvt LtdCC                 CRISIL BB+     100     Migrated from
                                                                                  CRISIL BBB-
Issuer Not Cooperating
Sri Krishna Timber Mart & Saw Mill      CC                 CRISIL B       12.5    Reaffirmed
Sri Krishna Timber Mart & Saw Mill      Proposed LT Bk     CRISIL B       20      Assigned
                                        Loan Fac
Sukaso Ceracolors Pvt Ltd               CC                 CRISIL BBB-    240     Reaffirmed
Sukaso Ceracolors Pvt Ltd               Export Packing     CRISIL BBB-    60      Reaffirmed
                                        Credit
Sukaso Ceracolors Pvt Ltd               Proposed LT Bk     CRISIL BBB-    200     Reaffirmed
                                        Loan Fac
Taj Leather Works                       CC                 CRISIL B-      1.2     Reaffirmed
Taj Leather Works                       Proposed LT Bk     CRISIL B-      32.8    Reaffirmed
                                        Loan Fac
Tecco Ceramics                          CC                 CRISIL BB-     35      Reaffirmed
Tecco Ceramics                          LT Loan            CRISIL BB-     28.9    Reaffirmed
Tecco Ceramics                          Proposed LT Bk     CRISIL BB-     25.1    Reaffirmed
                                        Loan Fac
The Star Cars Pvt Ltd                   Proposed LT Bk     CRISIL B+      10      Assigned
                                        Loan Fac
The Star Cars Pvt Ltd                   CC                 CRISIL B+      20      Assigned
The Star Cars Pvt Ltd                   LT Loan            CRISIL B+      40      Assigned
Vector Biotek Pvt Ltd                   CC                 CRISIL BB      57.5    Reaffirmed
Vector Biotek Pvt Ltd                   Proposed LT Bk     CRISIL BB      7.5     Reaffirmed
                                        Loan Fac
Vir Electro Engineering Pvt Ltd         CC                 CRISIL B       69.2    Assigned;
                                                                                  Suspension
                                                                                  Revoked
Vir Electro Engineering Pvt Ltd         Rupee TL           CRISIL B       123.5   Assigned;
                                                                                  Suspension
                                                                                  Revoked
Vir Electro Engineering Pvt Ltd         Proposed WC Fac    CRISIL B       17.3    Assigned;
                                                                                  Suspension
                                                                                  Revoked
Vizag Exports                           Proposed LT Bk     CRISIL B-      75      Reaffirmed
                                        Loan 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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