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CRISIL ratings for Indian debt instruments-Dec 4
December 4, 2017 / 4:44 AM / 11 days ago

CRISIL ratings for Indian debt instruments-Dec 4

    Dec 4 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 1, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ashtanga Educational Trust              BG                 CRISIL D       25      Downgraded
                                                                                  from CRISIL A4
Ambadi Investments Ltd                  CP@                CRISIL A1+     1500    Reaffirmed
Enhanced from Rs.137 Crore; @ Rs..120 crore being transferred to Ambadi Investments Pvt Ltd from
Murugappa Holdings Ltd (MHL) upon merger of the two entities.
Bajrangbali Vanijya Pvt Ltd             Export Packing     CRISIL A3+     50      Reaffirmed
                                        Credit
Cholamandalam Investment and Finance    ST Debt Programme  CRISIL A1+     10000   Withdrawal
Co. Ltd
Diamondstar                             Packing Credit     CRISIL D       89.1    Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Diamondstar                             Post Shipment      CRISIL D       133.8   Downgraded
                                        Credit                                    from CRISIL
                                                                                  A4+
Diamondstar                             Proposed ST Bk     CRISIL D       97.1    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  A4+
Edelweiss Commodities Services Ltd      ST Bk Fac          CRISIL A1+     600     Reaffirmed
Edelweiss Commodities Services Ltd      Standby LOC        CRISIL A1+     1520    Reaffirmed
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     8000    Assigned
*Assigned for initial/ follow-on public offer financing on episodic basis.
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     40000   Withdrawal
*Assigned for initial/ follow-on public offer financing on episodic basis.
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     4000    Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis.
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     10000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis.
Edelweiss Commodities Services Ltd      ST Debt (Including CRISIL A1+     70000   Reaffirmed
                                        ST NCD)
Edelweiss Financial Services Ltd        ST Debt Issue*     CRISIL A1+     8000    Assigned
*Assigned for initial public offering/open offer financing on episodic basis
Edelweiss Financial Services Ltd        ST Debt Issue*     CRISIL A1+     45000   Withdrawal
*Assigned for initial public offering/open offer financing on episodic basis
Edelweiss Financial Services Ltd        ST Debt Issue*     CRISIL A1+     4000    Reaffirmed
*Assigned for initial public offering/open offer financing on episodic basis
Edelweiss Financial Services Ltd        ST Debt Issue*     CRISIL A1+     20000   Reaffirmed
*Assigned for initial public offering/open offer financing on episodic basis
Edelweiss Financial Services Ltd        ST Debt            CRISIL A1+     63500   Reaffirmed
Galvano India Pvt Ltd                   BG                 CRISIL A4+     60      Assigned
Indsil Hydro Power and Manganese Ltd    LOC                CRISIL A4+     275.5   Withdrawal
Karnataka Chemical Industries           BG                 CRISIL A4+     40      Reaffirmed
Karnataka Chemical Industries           Bill Discounting   CRISIL A4+     15      Reaffirmed
                                        under LOC
Karnataka Chemical Industries           LOC                CRISIL A4+     125     Reaffirmed
Karnataka Chemical Industries           Overdraft          CRISIL A4+     40      Upgraded from
                                                                                  CRISIL BB-
KGPS Mechanical Pvt Ltd                 BG                 CRISIL D       25      Downgraded
                                                                                  from CRISIL A4
RSPL Ltd                                LOC & BG           CRISIL A1+     3000    Reaffirmed
RSPL Ltd                                CP Programme       CRISIL A1+     4000    Reaffirmed
Saagar Eco Projects Pvt Ltd             LOC & BG           CRISIL A4      75      Assigned
Satkartar Electronics                   BG                 CRISIL A4+     95      Upgraded from
                                                                                  CRISIL A4
Sona Biscuits Ltd                       BG                 CRISIL A3+     4       Reaffirmed
Sona Biscuits Ltd                       LOC                CRISIL A3+     4       Reaffirmed
Sunbeam Auto Pvt Ltd                    CP#                CRISIL A1+     350     Reaffirmed
#Earlier Short Term Debt
Tega Industries Ltd                     LOC#               CRISIL A2      665.8   Reaffirmed
#Fully interchangeable with letter of credit, bank guarantee, and buyer's credit.
Vivid Global Industries Ltd             Import LOC Limit   CRISIL A4+     64      Reaffirmed
VSC Infra Pvt Ltd                       Proposed BG        CRISIL A4+     29.4    Assigned
VSC Infra Pvt Ltd                       BG                 CRISIL A4+     120.6   Assigned

LONG TERM RATINGS:
-------------------
A G Fats Pvt Ltd                        CC                 CRISIL BB+     400     Upgraded from
                                                                                  CRISIL BB
A G Fats Pvt Ltd                        LT Loan            CRISIL BB+     10      Upgraded from
                                                                                  CRISIL BB
A G Fats Pvt Ltd                        Proposed LT Bk     CRISIL BB+     20      Upgraded from
                                        Loan Fac                                  CRISIL BB
A G Fats Pvt Ltd                        TL                 CRISIL BB+     20      Upgraded from
                                                                                  CRISIL BB
Ananya Shelters Pvt Ltd                 Cash TL            CRISIL BB+     95      Withdrawal
Ashtanga Educational Trust              Proposed LT Bk     CRISIL D       0.3     Downgraded
                                        Loan Fac                                  from CRISIL B-
Ashtanga Educational Trust              Rupee TL           CRISIL D       127.2   Downgraded
                                                                                  from CRISIL B-
Bajrangbali Vanijya Pvt Ltd             CC                 CRISIL BBB     60      Reaffirmed
Bajrangbali Vanijya Pvt Ltd             TL                 CRISIL BBB     259     Assigned
Brindco Enterprises Pvt Ltd             CC                 CRISIL BB+     150     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Brindco Enterprises Pvt Ltd             Proposed CC Limit  CRISIL BB+     50      Assigned
Caparo Financial Solutions Ltd          CC                 CRISIL BBB-    250     Reaffirmed
Caparo Financial Solutions Ltd          Proposed LT Bk     CRISIL BBB-    250     Reaffirmed
                                        Loan Fac
Cholamandalam Investment and Finance    Lower Tier II      CRISIL AA      2000    Reaffirmed
Co. Ltd                                 Bonds
Durg Shivnath Expressways Pvt Ltd       LT Loan            CRISIL BBB+    2000    Withdrawal
Edelweiss Commodities Services Ltd      LT Bk Fac          CRISIL AA      3250    Reaffirmed
Edelweiss Commodities Services Ltd      Overdraft          CRISIL AA      7000    Reaffirmed
Edelweiss Commodities Services Ltd      Proposed LT Bk     CRISIL AA      5000    Reaffirmed
                                        Loan Fac**
**Interchangeable with short term bank facilities
Edelweiss Commodities Services Ltd      NCDs               CRISIL AA      30000   Reaffirmed
Edelweiss Commodities Services Ltd      PS                 CRISIL AA      1050    Reaffirmed
Galvano India Pvt Ltd                   TL                 CRISIL BB+     32.2    Assigned
Galvano India Pvt Ltd                   Proposed LT Bk     CRISIL BB+     57.8    Assigned
                                        Loan Fac
Galvano India Pvt Ltd                   CC                 CRISIL BB+     70      Assigned
Indsil Hydro Power and Manganese Ltd    CC                 CRISIL BB+     380     Withdrawal
Indsil Hydro Power and Manganese Ltd    LT Loan            CRISIL BB+     15      Withdrawal
Indsil Hydro Power and Manganese Ltd    Rupee TL           CRISIL BB+     29.3    Withdrawal
Indsil Hydro Power and Manganese Ltd    TL                 CRISIL BB+     90      Withdrawal
Indus Valley Promoters Ltd              Proposed TL        CRISIL D       125     Downgraded
                                                                                  from CRISIL BB
Indus Valley Promoters Ltd              TL                 CRISIL D       125     Downgraded
                                                                                  from CRISIL BB
Karanja Terminal & Logistics Pvt Ltd    TL                 CRISIL BB-     4800    Reaffirmed
Karnataka Chemical Industries           CC                 CRISIL BB      150     Upgraded from
                                                                                  CRISIL BB-
Karnataka Chemical Industries           Proposed LT Bk     CRISIL BB      60      Upgraded from
                                        Loan Fac                                  CRISIL BB-
KGPS Mechanical Pvt Ltd                 CC                 CRISIL D       52.4    Downgraded
                                                                                  from CRISIL B
KGPS Mechanical Pvt Ltd                 Proposed LT Bk     CRISIL D       22.6    Downgraded
                                        Loan Fac                                  from CRISIL B
Mahesh Hardware and Pipes Pvt Ltd       CC                 CRISIL BB+     470     Reaffirmed
MNM Triplewall Containers Pvt Ltd       CC                 CRISIL BB+     106.5   Upgraded from
                                                                                  CRISIL BB
MNM Triplewall Containers Pvt Ltd       LT Loan            CRISIL BB+     293.5   Upgraded from
                                                                                  CRISIL BB
Mount Velour Rubber Works Pvt Ltd       CC                 CRISIL B+      80      Reaffirmed
Mount Velour Rubber Works Pvt Ltd       Proposed LT Bk     CRISIL B+      20      Reaffirmed
                                        Loan Fac
Patanjali Biscuits Pvt Ltd              CC                 CRISIL BBB     200     Reaffirmed
RSPL Ltd                                CC                 CRISIL AA-     2390    Reaffirmed
RSPL Ltd                                LT Loan            CRISIL AA-     857.3   Reaffirmed
RSPL Ltd                                Proposed FB Bk     CRISIL AA-     292.7   Reaffirmed
                                        Limits
RSPL Ltd                                Proposed TL        CRISIL AA-     20000   Reaffirmed
RSPL Ltd                                NCDs               CRISIL         1000    Reaffirmed
                                                           AA-/Positive
RSPL Ltd                                NCDs               CRISIL         2000    Reaffirmed
                                                           AA-/Positive
Saagar Eco Projects Pvt Ltd             TL                 CRISIL B+      25      Assigned
Saagar Eco Projects Pvt Ltd             CC                 CRISIL B+      100     Assigned
Satkartar Electronics                   Overdraft          CRISIL BB-     20      Upgraded from
                                                                                  CRISIL B+
Shree Flavours LLP                      CC                 CRISIL BBB-    250     Reaffirmed
Shri Ram Impex India Pvt Ltd            Buyer`s Credit     CRISIL BB-     250     Reaffirmed
Siemens Financial Services Pvt Ltd      Corporate Credit   CCR AAA        0       Withdrawal
                                        Rating
Sona Biscuits Ltd                       CC                 CRISIL BBB     83.5    Reaffirmed
Sona Biscuits Ltd                       Proposed LT Bk     CRISIL BBB     104.9   Reaffirmed
                                        Loan Fac
Sona Biscuits Ltd                       TL                 CRISIL BBB     81.1    Reaffirmed
Sri Lakshmi Kalavathi Cotton Company    CC & WC demand loanCRISIL B       90      Assigned
Sri Lakshmi Kalavathi Cotton Company    Proposed LT Bk     CRISIL B       10      Assigned
                                        Loan Fac
Sri Vaibhava Lakshmi Enterprises Pvt LtdLT Loan            CRISIL C       172     Reaffirmed
Sri Vaibhava Lakshmi Enterprises Pvt LtdOpen CC            CRISIL C       28      Reaffirmed
Sunbeam Auto Pvt Ltd                    CC*                CRISIL AA-     1740    Reaffirmed
* Interchangeable with packing credit foreign currency loan
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+    1020    Reaffirmed
^ Fully interchangeable with export packing credit, packing credit in foreign currency, post
shipment in foreign currency, working capital demand loan & bill discounting, letter of credit,
bank guarantee, and buyer's credit.
Ujjain Packaging Pvt Ltd                CC                 CRISIL B       32.1    Upgraded from
                                                                                  CRISIL B-
Ujjain Packaging Pvt Ltd                TL                 CRISIL B       45.7    Upgraded from
                                                                                  CRISIL B-
Usaka Hydro Powers Pvt Ltd              Proposed TL        CRISIL BBB-    10.3    Reaffirmed
Usaka Hydro Powers Pvt Ltd              TL                 CRISIL BBB-    83.5    Assigned
Vivid Global Industries Ltd             Foreign Bill       CRISIL BB+     26      Upgraded from
                                        Purchase                                  CRISIL BB
Vivid Global Industries Ltd             LT Loan            CRISIL BB+     7.2     Upgraded from
                                                                                  CRISIL BB
Vivid Global Industries Ltd             Proposed LT Bk     CRISIL BB+     7.8     Upgraded from
                                        Loan Fac                                  CRISIL BB
VSC Infra Pvt Ltd                       CC                 CRISIL BB-     30      Assigned
--------------------------------------------------------------------------------------------
$: 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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