December 3, 2019 / 4:12 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Dec 3

    Dec 3 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 2, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Dinman Polypacks Pvt Ltd                BG                 CRISIL A4+     7.5     Reaffirmed
Fabtech Technologies International Ltd  BG                 CRISIL A2      585     Reaffirmed
Fabtech Technologies International Ltd  LOC                CRISIL A2      202.5
Reaffirmed
Forays Services and Constructions Pvt   BG                 CRISIL A4+     40      Assigned
Ltd
Global Medikit Ltd                      LOC                CRISIL A4+     40      Reaffirmed
Goyal Energy and Steel Pvt Ltd          LOC                CRISIL A3+     27.2    Assigned
Goyal Energy and Steel Pvt Ltd          Inland/ Import LOC CRISIL A3+     94      Assigned
Hanuman Rice Mills - Karnal             Capex LOC          CRISIL A4      17.5    Reaffirmed
Revised from 'CRISIL A4 Issuer not cooperating' to 'CRISIL D' and Simultaneously Revised to
'CRISIL A4'
J.P. International                      Bill Purchase-     CRISIL A4+     170     Reaffirmed
                                        Discounting Fac
Kejriwal Dyeing and Printing Mills Pvt  LOC                CRISIL A2+     22.5    Reaffirmed
Ltd
Kores India Ltd                         BG                 CRISIL A3+     400     Reaffirmed
Kores India Ltd                         LOC                CRISIL A3+     350     Reaffirmed
Kremoint Pharma Pvt Ltd                 Bill Purchase      CRISIL A4+     50
Downgraded from 'CRISIL A3'
Kremoint Pharma Pvt Ltd                 Packing Credit     CRISIL A4+     20
Downgraded from 'CRISIL A3'
Muthoot Fincorp Ltd- Vivriti Medusa 07  Series A1 PTCs     CRISIL A1+ (SO)764.9
2019
Converted from Provisional Rating to Final Rating
Nataraj Cold Storage Pvt Ltd            BG                 CRISIL A4      3.5     Assigned
Pearl Global Industries Ltd             BG                 CRISIL A4+     70
Downgraded from 'CRISIL A3'
Pearl Global Industries Ltd             LOC                CRISIL A4+     1535
Downgraded from 'CRISIL A3'
Rajasthan Metals                        LOC                CRISIL A4+     140     Reaffirmed
Sarita Handa Exports Pvt Ltd            BG                 CRISIL A2      1
Migrated from 'CRISIL A3+ Issuer not cooperating'
Sarita Handa Exports Pvt Ltd            Packing Credit     CRISIL A2      390
Migrated from 'CRISIL A3+ Issuer not cooperating'
Yamuna Cable Accessories Pvt Ltd        LOC                CRISIL A4+     141
Assigned

MEDIUM TERM RATINGS:
-------------------
Kores India Ltd                         FD                 FA- / Negative 250
Reaffirmed; Enhanced from Rs.18.5 Crore

LONG TERM RATINGS:
-------------------
Dinman Polypacks Pvt Ltd                CC                 CRISIL BB/     170     Reaffirmed
                                                           Stable
Dinman Polypacks Pvt Ltd                Proposed FB Bk     CRISIL BB/     69.4    Reaffirmed
                                        Limits             Stable
Dinman Polypacks Pvt Ltd                TL                 CRISIL BB/     23.1    Reaffirmed
                                                           Stable
Fabtech Technologies International Ltd  CC                 CRISIL BBB+/   80      Reaffirmed
                                                           Positive
Fabtech Technologies International Ltd  Packing Credit     CRISIL BBB+/   120
                                                           Positive
Reaffirmed
Fabtech Technologies International Ltd  Proposed WC Fac    CRISIL BBB+/   52.5    Reaffirmed
                                                           Positive
Forays Services and Constructions Pvt   Proposed FB Bk     CRISIL BB- /   25      Assigned
Ltd                                     Limits             Stable
Forays Services and Constructions Pvt   CC                 CRISIL BB- /   25      Assigned
Ltd                                                        Stable
Forays Services and Constructions Pvt   Bill Discounting   CRISIL BB- /   20      Assigned
Ltd                                                        Stable
G.K. Chemicals                          CC                 CRISIL BB/     80      Reaffirmed
                                                           Stable
Global Medikit Ltd                      CC                 CRISIL BB/     45      Reaffirmed
                                                           Stable
Global Medikit Ltd                      Foreign Bill       CRISIL BB/     25      Reaffirmed
                                        Discounting        Stable
Global Medikit Ltd                      Proposed LT Bk     CRISIL BB/     5       Reaffirmed
                                        Loan Fac           Stable
Goyal Energy and Steel Pvt Ltd          CC                 CRISIL BBB/    945     Reaffirmed
                                                           Stable
Goyal Energy and Steel Pvt Ltd          TL                 CRISIL BBB/    183.8   Assigned
                                                           Stable
Hanuman Rice Mills - Karnal             CC                 CRISIL B- /    118
                                                           Stable
Revised from 'CRISIL B/ Stable Issuer not cooperating' to 'CRISIL D' and Simultaneously Revised
to 'CRISIL B-/ Stable'
Hanuman Rice Mills - Karnal             Proposed LT Bk     CRISIL B- /    44.5
                                        Loan Fac           Stable
Revised from 'CRISIL B/ Stable Issuer not cooperating' to 'CRISIL D' and Simultaneously Revised
to 'CRISIL B-/ Stable'
Hisar Motors Pvt Ltd                    CC                 CRISIL BB- /   140     Reaffirmed
                                                           Stable
Hisar Motors Pvt Ltd                    Channel Financing  CRISIL BB- /   100     Reaffirmed
                                                           Stable
Hi-Tech Pharma                          TL                 CRISIL B/      15.1    Assigned
                                                           Stable
Hi-Tech Pharma                          Proposed LT Bk     CRISIL B/      32.4    Assigned
                                        Loan Fac           Stable
Hi-Tech Pharma                          Secured Overdraft  CRISIL B/      52.5    Assigned
                                        Fac                Stable

Jai Kumar Arun Kumar Pvt Ltd            CC                 CRISIL BB/     104
                                                           Stable
Assigned
Kejriwal Dyeing and Printing Mills Pvt  CC                 CRISIL A- /    40      Reaffirmed
Ltd                                                        Stable
Kejriwal Dyeing and Printing Mills Pvt  TL                 CRISIL A- /    23      Reaffirmed
Ltd                                                        Stable
Kejriwal Geotech Pvt Ltd                CC                 CRISIL A- /    450     Reaffirmed
                                                           Stable
Kejriwal Geotech Pvt Ltd                TL                 CRISIL A- /    838.5   Reaffirmed
                                                           Stable
Kores India Ltd                         CC & WC demand     CRISIL BBB/    740     Reaffirmed
                                        loan*              Negative
*includes overdraft facility.
Kores India Ltd                         Loan Against       CRISIL BBB/    213.1   Reaffirmed
                                        Property           Negative
Kores India Ltd                         Proposed TL        CRISIL BBB/    7       Reaffirmed
                                                           Negative
Kores India Ltd                         TL                 CRISIL BBB/    278.1   Reaffirmed
                                                           Negative
Kremoint Pharma Pvt Ltd                 CC                 CRISIL BB/     35
                                                           Stable
Downgraded from 'CRISIL BBB-/ Stable'
Kremoint Pharma Pvt Ltd                 Proposed LT Bk     CRISIL BB/     45
                                        Loan Fac           Stable
Downgraded from 'CRISIL BBB-/ Stable'
Nataraj Cold Storage Pvt Ltd            WC Fac             CRISIL B+/     15      Assigned
                                                           Stable
Nataraj Cold Storage Pvt Ltd            CC                 CRISIL B+/     35      Assigned
                                                           Stable
Pearl Global Industries Ltd             Bill Discounting   CRISIL BB+/    170
                                                           Stable
Downgraded from 'CRISIL BBB-/ Stable'
Pearl Global Industries Ltd             Export Packing     CRISIL BB+/    1480
                                        Credit             Stable
Downgraded from 'CRISIL BBB-/ Stable'
Pearl Global Industries Ltd             LT Loan            CRISIL BB+/    705
                                                           Stable
Downgraded from 'CRISIL BBB-/ Stable'
Prasad Agro Industries                  CC                 CRISIL D       97.5
Downgraded from 'CRISIL BB-/ Stable'
Prasad Agro Industries                  LT Loan            CRISIL D       37.5
Downgraded from 'CRISIL BB-/ Stable'
Rajasthan Metals                        CC                 CRISIL BB- /   60      Reaffirmed
                                                           Stable
Rajasthan Metals                        Proposed FB Bk     CRISIL BB- /   100     Reaffirmed
                                        Limits             Stable
Royal Star Agrotech Pvt Ltd             CC                 CRISIL BB+/    318     Reaffirmed
                                                           Stable
Sarita Handa Exports Pvt Ltd            Proposed FB Bk     CRISIL BBB+/   29      Assigned
                                        Limits             Stable
Migrated from 'CRISIL BBB/ Stable Issuer not cooperating'
Sew Krishnagar Baharampore Highways Ltd TL                 CRISIL D       6003.2  Reaffirmed
SEW LSY Highways Ltd                    TL                 CRISIL D       17000   Reaffirmed
Shekhawati Geotech Pvt Ltd              CC                 CRISIL A- /    147.5   Reaffirmed
                                                           Stable
Shekhawati Geotech Pvt Ltd              TL                 CRISIL A- /    75.5    Reaffirmed
                                                           Stable
Shree Banke Bihari Ispat Pvt Ltd        CC                 CRISIL B/      100
                                                           Stable
Reassigned from 'CRISIL BBB/ Stable'
Shree Banke Bihari Ispat Pvt Ltd        Rupee TL           CRISIL B/      50
                                                           Stable
Reassigned from 'CRISIL BBB/ Stable'
Shree Rupanadham Steel Pvt Ltd          CC                 CRISIL B/      100
                                                           Stable
Reassigned from 'CRISIL BBB/ Stable'
Shree Rupanadham Steel Pvt Ltd          Proposed CC Limit  CRISIL B/      100
                                                           Stable
Reassigned from 'CRISIL BBB/ Stable'
Shree Rupanadham Steel Pvt Ltd          Rupee TL           CRISIL B/      50
                                                           Stable
Reassigned from 'CRISIL BBB/ Stable'
Special Ceramics Pvt Ltd                TL                 CRISIL BB+/    44.5    Assigned
                                                           Stable
Special Ceramics Pvt Ltd                CC                 CRISIL BB+/    30      Assigned
                                                           Stable
Special Ceramics Pvt Ltd                Proposed LT Bk     CRISIL BB+/    15.5    Assigned
                                        Loan Fac           Stable
VDV Infraventures Pvt Ltd               TL                 CRISIL BB- /   100
                                                           Stable
Upgraded from 'CRISIL B+/ Stable'
Yamuna Cable Accessories Pvt Ltd        CC                 CRISIL BB+/    120     Assigned
                                                           Stable
Yamuna Cable Accessories Pvt Ltd        LT Loan            CRISIL BB+/    211.6   Assigned
                                                           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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