December 4, 2019 / 6:28 AM / 10 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 3, 2019.


COMPANY                                INSTRUMENT          RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                 ----------          ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aimil Ltd                               LOC & BG           CRISIL A3      204.8   Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Aimil Ltd                               Standby Line of    CRISIL A3      30      Migrated from
                                        Credit                                    CRISIL A4+
(Issuer Not Cooperating)
Appl Industries Ltd                     LOC & BG           CRISIL A3      100     Assigned
Bajaj Finance Ltd                       ST Bk Fac          CRISIL A1+     3750    Reaffirmed
Bajaj Finance Ltd                       CP                 CRISIL A1+     200000  Reaffirmed
Baker Gauges India Pvt Ltd              BG                 CRISIL A3      20      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Baker Gauges India Pvt Ltd              Capex LOC          CRISIL A3      5.5     Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Bhanwariya Infra Projects Pvt Ltd       BG                 CRISIL A4+     160     Reaffirmed
Bharat Roll Industry Pvt Ltd            BG                 CRISIL A3+     40      Reaffirmed
Bharat Roll Industry Pvt Ltd            LOC                CRISIL A3+     34      Reaffirmed
Chawla Techno Construct Ltd             BG                 CRISIL A4+     150     Reaffirmed
Consolidated Carpet Industries Ltd      BG                 CRISIL A4+     20      Migrated from
                                                                                  CRISIL A4+
                                                                                  and Withdrawn
(Issuer Not Cooperating)
Consolidated Carpet Industries Ltd      LOC                CRISIL A4+     65      Migrated from
                                                                                  CRISIL A4+
                                                                                  and Withdrawn
(Issuer Not Cooperating)
Energy-Mission Machineries (India) Pvt  Non-FBL            CRISIL A4+     0.5     Reaffirmed
Ltd
Hindon India Pvt Ltd                    BG                 CRISIL A3      55      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Hindon India Pvt Ltd                    Inland/Import LOC  CRISIL A3      25      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Hindon India Pvt Ltd                    LOC                CRISIL A3      10      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Indian Valve Pvt Ltd                    BG                 CRISIL A3      105     Reaffirmed
Indian Valve Pvt Ltd                    LOC                CRISIL A3      5       Reaffirmed
Indian Valve Pvt Ltd                    Packing Credit in  CRISIL A3      20      Reaffirmed
                                        Foreign Currency
Inland Power Ltd                        Proposed ST Bk     CRISIL A2      83.7    Upgraded from
                                        Loan Fac                                  CRISIL A3+'
Inland Power Ltd                        Proposed LT Bk     CRISIL A3+     1240    Withdrawn
                                        Loan Fac
Kalyani Innerwear Pvt Ltd               BG                 CRISIL A4+     2.8     Reaffirmed
Karbon Steelmart Pvt Ltd                LOC                CRISIL A3      290     Reaffirmed
Kejriwal Industries Ltd                 BG                 CRISIL A2+     10      Reaffirmed
Kejriwal Industries Ltd                 LOC                CRISIL A2+     100     Reaffirmed
Mas Additives Pvt Ltd                   LOC                CRISIL A3      180     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Rah Infotech Pvt Ltd                    Proposed LOC       CRISIL A3+     10      Assigned
Rah Infotech Pvt Ltd                    LOC Bill           CRISIL A3+     40      Assigned
                                        Discounting
Rah Infotech Pvt Ltd                    LOC                CRISIL A3+     320     Assigned
Shree Krishna Rolling Mills (Jaipur )   BG                 CRISIL A4+     100     Downgraded
Ltd                                                                               from CRISIL
                                                                                  A3
SND Inc                                 Packing Credit     CRISIL A4+     50      Downgraded
                                                                                  from CRISIL
                                                                                  A3
Sharma Surgical and Engineering Pvt Ltd Inland/Import LOC  CRISIL D       13.5    Downgraded
                                                                                  from CRISIL
                                                                                  A4
Subha-Soumya Cold Storage Pvt Ltd       BG                 CRISIL A4      1.5     Reaffirmed
Tata Motors Ltd                         Non-FBL            CRISIL A1+     18000   Reaffirmed
Tata Motors Ltd                         Non-FBL$           CRISIL A1+     22000   Reaffirmed
$Limits are fully interchangeable
Tata Motors Ltd                         CP                 CRISIL A1+     60000   Reaffirmed
Tata Motors Ltd                         ST Debt            CRISIL A1+     10000   Reaffirmed
Tropilite Foods Pvt Ltd                 LOC                CRISIL A3+     5       Reaffirmed
V.J. Constructions                      BG                 CRISIL A4      25      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
MEDIUM TERM RATINGS:
-------------------
Bajaj Finance Ltd                       FD Programme       FAAA/Stable    -       Reaffirmed
LONG TERM RATINGS:
-------------------
Aimil Ltd                               Loan Against       CRISIL         195.2   Migrated from
                                        Property           BBB-/Stable            CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Aimil Ltd                               CC                 CRISIL         380     Migrated from
                                                           BBB-/Stable            CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Appl Industries Ltd                     Proposed FB Bk     CRISIL         250     Assigned
                                        Limits             BBB-/Stable

Appl Industries Ltd                     LT Loan            CRISIL         700     Assigned
                                                           BBB-/Stable
Appl Industries Ltd                     CC                 CRISIL         950     Assigned
                                                           BBB-/Stable
Bajaj Finance Ltd                       CC & WC demand loanCRISIL         26200   Reaffirmed
                                                           AAA/Stable
Bajaj Finance Ltd                       LT Bk Fac          CRISIL         124500  Reaffirmed
                                                           AAA/Stable
Bajaj Finance Ltd                       Proposed LT Bk     CRISIL         55550   Reaffirmed
                                        Loan Fac           AAA/Stable
Bajaj Finance Ltd                       NCD                CRISIL         50000   Assigned
                                                           AAA/Stable
Bajaj Finance Ltd                       NCD                CRISIL         50000   Reaffirmed
                                                           AAA/Stable
Bajaj Finance Ltd                       NCD                CRISIL         334570  Reaffirmed
                                                           AAA/Stable
Bajaj Finance Ltd                       Subordinated Debt  CRISIL         26000   Reaffirmed
                                                           AAA/Stable
Bajaj Finance Ltd                       Lower Tier-II BondsCRISIL         7000    Reaffirmed
                                                           AAA/Stable
Baker Gauges India Pvt Ltd              CC                 CRISIL         80      Migrated from
                                                           BBB-/Stable            CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Baker Gauges India Pvt Ltd              Proposed BG        CRISIL         30      Migrated from
                                                           BBB-/Stable            CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Baker Gauges India Pvt Ltd              Proposed WC Fac    CRISIL         20      Migrated from
                                                           BBB-/Stable            CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Baker Gauges India Pvt Ltd              Rupee TL           CRISIL         57.7    Migrated from
                                                           BBB-/Stable            CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Baker Gauges India Pvt Ltd              WC Fac             CRISIL         16.8    Migrated from
                                                           BBB-/Stable            CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Bhanwariya Infra Projects Pvt Ltd       Overdraft          CRISIL         80      Reaffirmed
                                                           BB+/Stable
Bharat Roll Industry Pvt Ltd            Bill Discounting   CRISIL         20      Reaffirmed
                                                           BBB/Positive
Bharat Roll Industry Pvt Ltd            CC                 CRISIL         230     Reaffirmed
                                                           BBB/Positive
Bharat Roll Industry Pvt Ltd            Proposed LT Bk     CRISIL         26      Reaffirmed
                                        Loan Fac           BBB/Positive
Bhogale Automotive Pvt Ltd              TL                 CRISIL         90      Assigned
                                                           BB/Stable
Bhogale Automotive Pvt Ltd              CC                 CRISIL         35      Assigned
                                                           BB/Stable
Bhogale Automotive Pvt Ltd              Proposed FB Bk     CRISIL         5       Assigned
                                        Limits             BB/Stable
Chawla Techno Construct Ltd             Proposed LT Bk     CRISIL         55.7    Reaffirmed
                                        Loan Fac           BB/Stable
Chawla Techno Construct Ltd             TL                 CRISIL         38.4    Reaffirmed
                                                           BB/Stable
Consolidated Carpet Industries Ltd      CC                 CRISIL         60      Migrated from
                                                           BB-/Stable             CRISIL
                                                                                  BB-/Stable and
                                                                                  Withdrawn
(Issuer Not Cooperating)
Energy-Mission Machineries (India) Pvt  CC                 CRISIL BB      95      Reaffirmed
Ltd
Energy-Mission Machineries (India) Pvt  TL                 CRISIL BB      120.7   Reaffirmed
Ltd
Fortune Paper Mills LLP                 CC                 CRISIL         65      Reaffirmed
                                                           BB/Stable
Fortune Paper Mills LLP                 TL                 CRISIL         10      Reaffirmed
                                                           BB/Stable
Ganapathi Spinning Mill                 CC                 CRISIL         180     Reaffirmed
                                                           BB-/Stable
HILITE Realtors (India) LLP             LT Loan            CRISIL D       500     Reaffirmed
                                                                                  and Withdrawn
Hindon India Pvt Ltd                    Proposed LT Bk     CRISIL         22      Migrated from
                                        Loan Fac           BBB-/Stable            CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Hindon India Pvt Ltd                    CC                 CRISIL         38      Migrated from
                                                           BBB-/Stable            CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Iced Desserts And Food Parlours (India) TL                 CRISIL B       150     Reaffirmed
P.Ltd.
Indian Valve Pvt Ltd                    CC                 CRISIL         40      Reaffirmed
                                                           BBB-/Stable
Indian Valve Pvt Ltd                    TL                 CRISIL         50      Reaffirmed
                                                           BBB-/Stable
Indian Valve Pvt Ltd                    Proposed LT Bk     CRISIL         30      Reaffirmed
                                        Loan Fac           BBB-/Stable
Inland Power Ltd                        CC                 CRISIL         360     Upgraded from
                                                           BBB+/Stable            CRISIL
                                                                                  BBB/Stable
Inland Power Ltd                        LT Loan            CRISIL         956.3   Upgraded from
                                                           BBB+/Stable            CRISIL
                                                                                  BBB/Stable'
Kalyani Innerwear Pvt Ltd               CC                 CRISIL         80      Reaffirmed
                                                           BB+/Positive
Kalyani Innerwear Pvt Ltd               Proposed LT Bk     CRISIL         7.1     Reaffirmed
                                        Loan Fac           BB+/Positive
Kalyani Innerwear Pvt Ltd               Rupee TL           CRISIL         30.1    Reaffirmed
                                                           BB+/Positive
Karbon Steelmart Pvt Ltd                CC                 CRISIL         120     Reaffirmed
                                                           BBB-/Stable
Karbon Steelmart Pvt Ltd                Proposed LT Bk     CRISIL         38      Reaffirmed
                                        Loan Fac           BBB-/Stable
Karbon Steelmart Pvt Ltd                TL                 CRISIL         52      Reaffirmed
                                                           BBB-/Stable
Kejriwal Industries Ltd                 CC                 CRISIL         225     Reaffirmed
                                                           A-/Stable
Kejriwal Industries Ltd                 Proposed LT Bk     CRISIL         317     Reaffirmed
                                        Loan Fac           A-/Stable
Kejriwal Industries Ltd                 TL                 CRISIL         79      Reaffirmed
                                                           A-/Stable
Madhav Cotton Pvt Ltd                   CC                 CRISIL         80      Reaffirmed
                                                           BB-/Stable
Madhav Cotton Pvt Ltd                   Proposed LT Bk     CRISIL         25      Reaffirmed
                                        Loan Fac           BB-/Stable
Mahrishi Alloys Pvt Ltd                 CC                 CRISIL         100     Assigned;
                                                           BBB-/Stable            Suspension
                                                                                  Revoked
Mas Additives Pvt Ltd                   CC                 CRISIL         50      Downgraded
                                                           BBB-/Stable            from CRISIL
                                                                                  BBB/Stable
Naturasia Ingredients Pvt Ltd           CC                 CRISIL         50      Assigned
                                                           BB-/Stable
Naturasia Ingredients Pvt Ltd           Proposed LT Bk     CRISIL         100     Assigned
                                        Loan Fac           BB-/Stable
Nirala Infracity (Ajmer) Pvt Ltd        TL                 CRISIL D       175     Withdrawn
Prince Roller Flour Mills Pvt Ltd       BG                 CRISIL         0.7     Reaffirmed
                                                           BB/Stable              and Withdrawn
Prince Roller Flour Mills Pvt Ltd       CC                 CRISIL         120     Reaffirmed
                                                           BB/Stable              and Withdrawn
Prince Roller Flour Mills Pvt Ltd       LOC                CRISIL         10      Reaffirmed
                                                           BB/Stable              and Withdrawn
R. C. Foods                             CC                 CRISIL         85      Upgraded from
                                                           BB/Stable              CRISIL
                                                                                  B+/Stable
R. C. Foods                             Proposed LT Bk     CRISIL         45      Upgraded from
                                        Loan Fac           BB/Stable              CRISIL
                                                                                  B+/Stable
R. C. Foods                             TL                 CRISIL         25      Upgraded from
                                                           BB/Stable              CRISIL
                                                                                  B+/Stable
Rah Infotech Pvt Ltd                    CC                 CRISIL         80      Assigned
                                                           BBB/Stable
Ratnam Poultry Pvt Ltd                  Open CC            CRISIL         110     Downgraded
                                                           B+/Stable              from CRISIL
                                                                                  BB-/Stable
Ratnam Poultry Pvt Ltd                  Proposed LT Bk     CRISIL         90      Downgraded
                                        Loan Fac           B+/Stable              from 'CRISIL
                                                                                  BB-/Stable'
Royal Plaza Inn                         TL                 CRISIL D       100     Reaffirmed
Sales India Pvt Ltd                     CC                 CRISIL         200     Reaffirmed
                                                           BBB-/Stable
Sharma Surgical and Engineering Pvt Ltd CC                 CRISIL D       30      Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Sharma Surgical and Engineering Pvt Ltd TL                 CRISIL D       46      Downgraded
                                                                                  from CRISIL
                                                                                  B+/Stable
Shree Krishna Rolling Mills (Jaipur )   Bill Discounting   CRISIL BB+     5       Downgraded
Ltd                                                                               from CRISIL
                                                                                  BBB-/Stable
Shree Krishna Rolling Mills (Jaipur )   CC                 CRISIL BB+     190     Downgraded
Ltd                                                                               from CRISIL
                                                                                  BBB-/Stable
Shree Krishna Rolling Mills (Jaipur )   LT Loan            CRISIL BB+     22      Downgraded
Ltd                                                                               from CRISIL
                                                                                  BBB-/Stable
Shree Krishna Rolling Mills (Jaipur )   Secured Overdraft  CRISIL BB+     60      Downgraded
Ltd                                     Fac                                       from CRISIL
                                                                                  BBB-/Stable
Shree Ram Cotex                         CC                 CRISIL D       60      Downgraded
                                                                                  from CRISIL
                                                                                  B-/Stable
Shree Ram Cotex                         TL                 CRISIL D       27.5    Downgraded
                                                                                  from CRISIL
                                                                                  B-/Stable
SND Inc                                 Foreign Bill       CRISIL         97      Downgraded
                                        Discounting        BB+/Stable             from CRISIL
                                                                                  BBB-/Stable
SND Inc                                 TL                 CRISIL         3       Downgraded
                                                           BB+/Stable             from CRISIL
                                                                                  BBB-/Stable
Subha-Soumya Cold Storage Pvt Ltd       CC                 CRISIL B       64      Reaffirmed
Subha-Soumya Cold Storage Pvt Ltd       LT Loan            CRISIL B       21.3    Reaffirmed
Subha-Soumya Cold Storage Pvt Ltd       Proposed LT Bk     CRISIL B       48.8    Reaffirmed
                                        Loan Fac
Subha-Soumya Cold Storage Pvt Ltd       Proposed TL        CRISIL B       115     Reaffirmed
Subha-Soumya Cold Storage Pvt Ltd       Proposed WC Fac    CRISIL B       85      Reaffirmed
Subha-Soumya Cold Storage Pvt Ltd       WC Loan            CRISIL B       14.4    Reaffirmed
Tata Motors Ltd                         FB Fac             CRISIL         60000   Reaffirmed
                                                           AA-/Negative
Tata Motors Ltd                         FB Fac^            CRISIL         10000   Reaffirmed
                                                           AA-/Negative
^Committed credit facility
Tata Motors Ltd                         LT Loan            CRISIL         10000   Reaffirmed
                                                           AA-/Negative
Tata Motors Ltd                         Proposed LT Bk     CRISIL         30000   Reaffirmed
                                        Loan Fac           AA-/Negative
Tata Motors Ltd                         NCD                CRISIL         5000    Assigned
                                                           AA-/Negative
Tata Motors Ltd                         NCD                CRISIL         5000    Reaffirmed
                                                           AA-/Negative
Tres Mercari Pvt Ltd                    LT Loan            CRISIL D       23.8    Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
Tres Mercari Pvt Ltd                    Overdraft          CRISIL D       40      Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
Tropilite Foods Pvt Ltd                 CC                 CRISIL         150     Reaffirmed
                                                           BBB/Stable
Tropilite Foods Pvt Ltd                 Proposed LT Bk     CRISIL         28.9    Reaffirmed
                                        Loan Fac           BBB/Stable
Tropilite Foods Pvt Ltd                 TL                 CRISIL         41.1    Reaffirmed
                                                           BBB/Stable
V.J. Constructions                      Overdraft          CRISIL B+      25      Downgraded
                                                                                  from CRISIL
                                                                                  BB-/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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