December 5, 2018 / 7:17 AM / a month ago

CRISIL ratings for Indian debt instruments-Dec 5

   Dec 5 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of December 4, 2018.


COMPANY                                 INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A D Electro Steel Co Pvt Ltd            BG                 CRISIL A4      30      Reaffirmed
Migrated from CRISIL A4 (Issuer Not Cooperating)
A D Electro Steel Co Pvt Ltd            Export Packing     CRISIL A4      10      Reaffirmed
                                        Credit
Migrated from CRISIL A4 (Issuer Not Cooperating)
Abad Fisheries Pvt Ltd                  Foreign Bill       CRISIL A3+     100     Reaffirmed
                                        Discounting
Abad Fisheries Pvt Ltd                  LOC                CRISIL A3+     20      -
Abad Fisheries Pvt Ltd                  Packing Credit     CRISIL A3+     200     -
Anil Construction Company               BG^^               CRISIL A4+     120     Assigned
^^ Performance bank guarantee
B. P. Construction - Hapur              Proposed BG        CRISIL A4      50.3    -
Downgraded from CRISIL A4+
Balkrishna Paper Mills Ltd              LOC                CRISIL A4+     360     Reaffirmed
BP Sangle Constructions Pvt Ltd         BG                 CRISIL A3+     250     -
Upgraded from CRISIL A3
Jayesh Tradex Pvt Ltd                   LOC                CRISIL A4+     25      Reaffirmed
Konuparamban Traders                    BG                 CRISIL A4+     2.5     Assigned
Luke Export                             Foreign Bill       CRISIL A4+     80      -
                                        Discounting
Upgraded from CRISIL A4
Luke Export                             Packing Credit     CRISIL A4+     80      -
Upgraded from CRISIL A4
Maharshi Alloys and Steels              LOC & BG           CRISIL A4+     10      Reaffirmed
MMTC - Pamp India Pvt Ltd               Foreign Exchange   CRISIL A2+     1300    Reaffirmed
                                        Forward
MMTC - Pamp India Pvt Ltd               LOC@               CRISIL A2+     18000   Reaffirmed
@Fully interchangeable with bank guarantee and one way interchangeability 
with FB limits up to Rs. 140 crore
MMTC - Pamp India Pvt Ltd               LOC#               CRISIL A2+     3000    Reaffirmed
# Interchangeable with Foreign Exchange Limit upto Rs.30 crore
MMTC - Pamp India Pvt Ltd               LOC&               CRISIL A2+     3000    Reaffirmed
& Interchangeable with Foreign Exchange Limit of Rs.30 crore
MMTC - Pamp India Pvt Ltd               LOC                CRISIL A2+     12250   Reaffirmed
MMTC - Pamp India Pvt Ltd               Proposed LOC & BG  CRISIL A2+     2070    Reaffirmed
Pearl Global Industries Ltd             BG                 CRISIL A3      70      -
Downgraded from CRISIL A3+
Pearl Global Industries Ltd             LOC                CRISIL A3      1385    -
Downgraded from CRISIL A3+
Pearl Global Industries Ltd             Packing Credit     CRISIL A3      300     -
Downgraded from CRISIL A3+
Sterling Foods                          Export Packing     CRISIL A3+     300     Reaffirmed
                                        Credit
Yashnand Engineers and Contractors      BG                 CRISIL A2      1140    Reaffirmed


LONG TERM RATINGS:
-------------------
A D Electro Steel Co Pvt Ltd            CC                 CRISIL B+      110     Reaffirmed
Migrated from CRISIL B+ (Issuer Not Cooperating)
A D Electro Steel Co Pvt Ltd            Proposed LT Bk     CRISIL B+      30      Reaffirmed
                                        Loan Fac
Migrated from CRISIL B+ (Issuer Not Cooperating)
AAA Paper Ltd                           CC                 CRISIL B-      280     -
Abad Fisheries Pvt Ltd                  CC                 CRISIL BBB     50      -
Abad Fisheries Pvt Ltd                  LT Loan            CRISIL BBB     55      -
Abad Fisheries Pvt Ltd                  Proposed LT Bk     CRISIL BBB     21.8    Assigned
                                        Loan Fac
Anand Electricals                       BG                 CRISIL D       10      -
(Issuer Not Cooperating), Downgraded from CRISIL B
Anand Electricals                       CC                 CRISIL D       20      -
(Issuer Not Cooperating), Downgraded from CRISIL B
Anand Electricals                       LOC                CRISIL D       20      -
(Issuer Not Cooperating), Downgraded from CRISIL B
Anand Electricals                       Proposed LT Bk     CRISIL D       100     -
                                        Loan Fac
(Issuer Not Cooperating), Downgraded from CRISIL B
Anil Construction Company               Overdraft^         CRISIL BB      50      Assigned
^ Overdraft against immovable property
Aurangabad Divisional Life Insurance    LT Bk Fac          CRISIL BBB-    100     Reaffirmed
Employees Co-Operative Credit Society
Ltd
Aurangabad Divisional Life Insurance    Proposed LT Bk     CRISIL BBB-    100     Assigned
Employees Co-Operative Credit Society   Loan Fac
Ltd
B. P. Construction - Hapur              Overdraft          CRISIL C       40      -
Downgraded from CRISIL BB-
Balkrishna Paper Mills Ltd              CC                 CRISIL BB      100     Reaffirmed
Balkrishna Paper Mills Ltd              WC TL              CRISIL BB      670     Reaffirmed
Bhagiratha Polymers Pvt Ltd             Proposed LT Bk     CRISIL B+      20.7    Assigned
                                        Loan Fac
Bhagiratha Polymers Pvt Ltd             CC                 CRISIL B+      50      Assigned
Bhagiratha Polymers Pvt Ltd             LT Loan            CRISIL B+      29.3    Assigned
BP Sangle Constructions Pvt Ltd         CC                 CRISIL BBB     150     -
Upgraded from CRISIL BBB-/Positive
J.S.R. Constructions Pvt Ltd            BG                 CRISIL D       450     -
Downgraded from CRISIL A4
J.S.R. Constructions Pvt Ltd            Overdraft          CRISIL D       10      -

Downgraded from CRISIL B+
Jayesh Tradex Pvt Ltd                   CC                 CRISIL BB-     52      Reaffirmed
Jayesh Tradex Pvt Ltd                   LT Loan            CRISIL BB-     10      Reaffirmed
Jayesh Tradex Pvt Ltd                   Proposed TL        CRISIL BB-     56      Reaffirmed
Jayesh Tradex Pvt Ltd                   TL                 CRISIL BB-     7       Assigned
JSR Mulbagal Tollways Pvt Ltd           TL                 CRISIL D       1050    -
Downgraded from CRISIL B-
K. Senthil Kumar HUF                    TL                 CRISIL B+      15      Assigned
K. Senthil Kumar HUF                    CC                 CRISIL B+      50      Assigned
K. Senthil Kumar HUF                    Proposed LT Bk     CRISIL B+      25      Assigned
                                        Loan Fac
Konuparamban Traders                    Proposed LT Bk     CRISIL BB-     22.5    Assigned
                                        Loan Fac
Konuparamban Traders                    CC                 CRISIL BB-     75      Assigned
Luke Export                             TL                 CRISIL BB-     20      -
Upgraded from CRISIL B+
Maharshi Alloys and Steels              CC*                CRISIL BB      50      Reaffirmed
*The firm has limits of Rs.5 Cr. of cash credit and Rs.2 Cr. of LC/BG. 
However, the usage of these should not crossRs.6 Cr.
MMTC - Pamp India Pvt Ltd               CC                 CRISIL A-      300     Reaffirmed
MMTC - Pamp India Pvt Ltd               CC*                CRISIL A-      150     Reaffirmed
*Interchangeable with Foreign Exchange Limit of Rs.15 crore
Orange Jaisalmer Wind Energy Pvt Ltd    CC                 CRISIL A-      72      Reaffirmed
Continues on Rating Watch with Developing Implications
Orange Jaisalmer Wind Energy Pvt Ltd    TL                 CRISIL A-      1358    Reaffirmed
Continues on Rating Watch with Developing Implications
Orange Mamatkheda Wind Pvt Ltd          LT Loan            CRISIL BBB     6200    Reaffirmed
P D Enterprises -Vijayawada             CC                 CRISIL B+      100     Assigned
Pearl Global Industries Ltd             Bill Discounting   CRISIL BBB-    170     -
Downgraded from CRISIL BBB
Pearl Global Industries Ltd             Export Packing     CRISIL BBB-    1585    -
                                        Credit
Downgraded from CRISIL BBB
Pearl Global Industries Ltd             LT Loan            CRISIL BBB-    417.2   -
Downgraded from CRISIL BBB
Pearl Global Industries Ltd             Proposed FB Bk     CRISIL BBB-    32.8    -
                                        Limits
Downgraded from CRISIL BBB
Pillai and Sons Motor Company           Channel Financing  CRISIL BBB-    550     Reaffirmed
Pillai and Sons Motor Company           Proposed LT Bk     CRISIL BBB-    80      Assigned
                                        Loan Fac
Raj Waterscape Properties Pvt Ltd       CC                 CRISIL D       250     Reaffirmed
Rashmi Steels                           CC                 CRISIL D       150     -
(Issuer Not Cooperating), Downgraded from CRISIL B+
Rashmi Steels                           LOC                CRISIL D       6.5     -
(Issuer Not Cooperating), Downgraded from CRISIL B+
Rashmi Steels                           Rupee TL           CRISIL D       53.5    -
(Issuer Not Cooperating), Downgraded from CRISIL B+
Salasar Green Energy Pvt Ltd            TL                 CRISIL BB+     162.6   -
Shriram City Union Finance Ltd          NCD                CRISIL AA      30000   Assigned
Shriram City Union Finance Ltd          Subordinated Debt  CRISIL AA      1000    Reaffirmed
Sree Guru Raghavendra Cotton Ginning    CC                 CRISIL B       56.4    -
and Pressing Factory
Downgraded from CRISIL B+
Sree Guru Raghavendra Cotton Ginning    TL                 CRISIL B       15      -
and Pressing Factory
Downgraded from CRISIL B+
Yashnand Engineers and Contractors      CC                 CRISIL BBB+    130     Reaffirmed
--------------------------------------------------------------------------------------------
$: 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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below