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CRISIL ratings for Indian debt instruments-Dec 8
December 8, 2017 / 4:12 AM / 3 days ago

CRISIL ratings for Indian debt instruments-Dec 8

    Dec 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of December 7, 2017.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Arunachala Gounder Textile Mills Pvt LtdBG                 CRISIL A4+     6       Withdrawal
Ascent Air Pvt Ltd                      BG                 CRISIL A3      60      Reaffirmed
Bachmann Industries India Ltd           BG                 CRISIL A4+     60      Upgraded from
                                                                                  CRISIL A4
Balajee Mini Steels and Rerolling Pvt   BG                 CRISIL A3+     10
Ltd
Balajee Mini Steels and Rerolling Pvt   LOC                CRISIL A3+     40      Assigned
Ltd
Celebi Ground Handling Delhi Pvt Ltd    BG                 CRISIL A3+     650     Reaffirmed
Deluxe Cotspin                          BG                 CRISIL A4      4200    Assigned
East India Udyog Ltd                    BG                 CRISIL A3      350     Downgraded
                                                                                  from CRISIL
                                                                                  A3+
East India Udyog Ltd                    Proposed ST Bk     CRISIL A3      200     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  A3+
ECL Finance Ltd                         Short- Term Debt   CRISIL A1+     2090    Assigned
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
ECL Finance Ltd                         Short- Term Debt   CRISIL A1+     200     Assigned
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
ECL Finance Ltd                         Short- Term Debt   CRISIL A1+     600     Withdrawal
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
ECL Finance Ltd                         Short- Term Debt   CRISIL A1+     850     Reaffirmed
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
ECL Finance Ltd                         Short- Term Debt   CRISIL A1+     25000   Reaffirmed
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
ECL Finance Ltd                         Short- Term Debt   CRISIL A1+     900     Reaffirmed
                                        (Including ST NCD) 
ECL Finance Ltd                         Short- Term        CRISIL PP- MLD 100     Reaffirmed
                                        Principal-         A1+r
                                        Protected Market- Linked Debentures
Edelweiss Commodities Services Ltd      ST Bk Fac          CRISIL A1+     100     Reaffirmed
Edelweiss Commodities Services Ltd      Standby LOC        CRISIL A1+     100     Reaffirmed
Edelweiss Commodities Services Ltd      Short- Term Debt   CRISIL A1+     2500    Assigned
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
Edelweiss Commodities Services Ltd      Short- Term Debt   CRISIL A1+     120000  Assigned
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     200000  Withdrawal
*Assigned for initial/ follow- on public offer financing on episodic basis
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     20000   Reaffirmed
*Assigned for initial/ follow- on public offer financing on episodic basis
Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     550000  Reaffirmed
*Assigned for initial/ follow- on public offer financing on episodic basis
Edelweiss Commodities Services Ltd      ST Debt (Including CRISIL A1+     20000   Reaffirmed
                                        ST NCD)
Edelweiss Financial Services Ltd        Short- Term Debt   CRISIL A1+     8500000 Assigned
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
Edelweiss Financial Services Ltd        Short- Term Debt   CRISIL A1+     245000  Assigned
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
Edelweiss Financial Services Ltd        Short- Term Debt   CRISIL A1+     10000   Withdrawal
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
Edelweiss Financial Services Ltd        Short- Term Debt   CRISIL A1+             Reaffirmed
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
Edelweiss Financial Services Ltd        Short- Term Debt   CRISIL A1+     800000  Reaffirmed
                                        Issue*
*Assigned for initial/ follow- on public offer financing on episodic basis
Edelweiss Financial Services Ltd        ST Debt            CRISIL A1+     3100    Reaffirmed
FirstRand Bank Ltd                      CD                 CRISIL A1+     2500    Reaffirmed
KIMS Health Care Management Ltd         BG                 CRISIL A2+     60      Reaffirmed
KIMS Health Care Management Ltd         LOC                CRISIL A2+     60      Reaffirmed
Kotak Mahindra Investments Ltd          CP Issue*          CRISIL A1+     12000   Assigned 
*Assigned for initial/ follow- on public offer financing on episodic basis
Kotak Mahindra Investments Ltd          CP Issue*          CRISIL A1+     20000   Withdrawal 
Kotak Mahindra Investments Ltd          CP Issue*          CRISIL A1+     20000   Withdrawal 
Kotak Mahindra Investments Ltd          CP Programme       CRISIL A1+     55000   Reaffirmed 
Larsen and Toubro Ltd                   CP^                CRISIL A1+     80000   Reaffirmed 
^earlier Short Term Debt Programme
Meenu Paper Mills Pvt Ltd               LOC                CRISIL A4+     2000    Assigned
P.A.S. Petro Product                    Foreign LOC        CRISIL A4      80      Reaffirmed
Ram Chandra Paul                        BG                 CRISIL A4+     140     Reaffirmed
Ravin Cables Ltd                        BG                 CRISIL A3      1150    Reaffirmed
Ravin Cables Ltd                        Overdraft          CRISIL A3      40      Reaffirmed

RCC Eco- Build Systems Ltd              BG                 CRISIL A3      195     Reaffirmed
RCC Eco- Build Systems Ltd              LOC                CRISIL A3      39      Reaffirmed
RCC Infra Ventures Ltd                  BG                 CRISIL D       10      Downgraded
                                                                                  from CRISIL A4
Issuer Not Cooperating
RCC Infra Ventures Ltd                  LOC                CRISIL D       3.6     Downgraded
                                                                                  from CRISIL A4
Issuer Not Cooperating
Redington India Ltd                     CP                 CRISIL A1+     9675    Reaffirmed
Enhanced from Rs.1400 Crore
Redington India Ltd                     BG                 CRISIL A1+     1000    Reaffirmed
Redington India Ltd                     LOC                CRISIL A1+     1300    Reaffirmed
Redington India Ltd                     ST Loan            CRISIL A1+     313     Reaffirmed
Refex Energy Ltd                        BG                 CRISIL A3      600.1   Reaffirmed
Refex Energy Ltd                        LOC                CRISIL A3      100     Reaffirmed
Sagar Asia Pvt Ltd                      Foreign LOC        CRISIL A4+     1600    Assigned
Shri Bajrang Alloys Ltd                 BG                 CRISIL A4      10      Reaffirmed
Shri Bajrang Alloys Ltd                 Bill Discounting   CRISIL A4      80      Reaffirmed
Sri Sai Krishna Constructions           BG                 CRISIL A4+     130     Upgraded from
                                                                                  CRISIL A4
Tropical Coatings International Pvt Ltd BG                 CRISIL A4+     6       Withdrawal
Venkatesh Jewellers                     LOC & BG           CRISIL A3      1500    Reaffirmed
Venkatesh Jewellers                     BG                 CRISIL A4+     110     Reaffirmed
Venkatesh Jewellers                     Bill Discounting   CRISIL A4+     40      Reaffirmed
Vikas Ecotech Ltd                       LOC & BG           CRISIL A3+     100     Reaffirmed
Watch Developing

MEDIUM TERM RATINGS:
-------------------
Larsen and Toubro Ltd                   FD Programme       FAAA                   Reaffirmed

LONG TERM RATINGS:
-------------------
Aran Motors                             CC                 CRISIL B       74      Reaffirmed
Aran Motors                             Electronic Dealer  CRISIL B       40      Reaffirmed
                                        Financing
                                        Scheme(e- DFS)
Aran Motors                             Proposed TL        CRISIL B       9       Assigned
Arunachala Gounder Textile Mills Pvt LtdCC                 CRISIL BB+     200     Withdrawal
Arunachala Gounder Textile Mills Pvt LtdForeign Bill       CRISIL BB+     20      Withdrawal
                                        Discounting
Arunachala Gounder Textile Mills Pvt LtdLOC                CRISIL BB+     95      Withdrawal
Arunachala Gounder Textile Mills Pvt LtdLT Loan            CRISIL BB+     160     Withdrawal
Arunachala Gounder Textile Mills Pvt LtdProposed LT Bk     CRISIL BB+     209     Withdrawal
                                        Loan Fac
Arunachala Gounder Textile Mills Pvt LtdStandby Line of    CRISIL BB+     20      Withdrawal
                                        Credit
Avian Technologies                      CC                 CRISIL D       20      Downgraded
                                                                                  from CRISIL B-
Issuer Not Cooperating
Avian Technologies                      Foreign LOC        CRISIL D       19.5    Downgraded
                                                                                  from CRISIL B-
Issuer Not Cooperating
Avian Technologies                      LT Loan            CRISIL D       32.6    Downgraded
                                                                                  from CRISIL B-
Issuer Not Cooperating
Avian Technologies                      Proposed LT Bk     CRISIL D       3.9     Downgraded
                                        Loan Fac                                  from CRISIL B-
Issuer Not Cooperating
Bachmann Industries India Ltd           CC                 CRISIL BB-     140     Upgraded from
                                                                                  CRISIL B+
Balajee Mini Steels and Rerolling Pvt   CC                 CRISIL BBB     177
Ltd
Balajee Mini Steels and Rerolling Pvt   Rupee TL           CRISIL BBB     90      Assigned
Ltd
Balajee Mini Steels and Rerolling Pvt   Proposed LT Bk     CRISIL BBB     11.1    Assigned
Ltd                                     Loan Fac
Celebi Ground Handling Delhi Pvt Ltd    CC                 CRISIL BBB     150     Reaffirmed
Celebi Ground Handling Delhi Pvt Ltd    TL                 CRISIL BBB     550     Reaffirmed
Deluxe Cotspin                          TL                 CRISIL B       800     Assigned
Deluxe Cotspin                          Proposed LT Bk     CRISIL B       2000    Assigned
                                        Loan Fac
Deluxe Cotspin                          CC                 CRISIL B       950     Assigned
Dhanera Diamonds                        Export Packing     CRISIL BBB     462.5   Reaffirmed
                                        Credit
Dhanera Diamonds                        Post Shipment      CRISIL BBB     967.5   Reaffirmed
                                        Credit
Dhanera Diamonds                        Proposed LT Bk     CRISIL BBB     100     Reaffirmed
                                        Loan Fac
DVP Infra Projects Pvt Ltd              CC                 CRISIL BB+     10      Reaffirmed
DVP Infra Projects Pvt Ltd              Rupee TL           CRISIL BB+     85      Reaffirmed
East India Udyog Ltd                    CC                 CRISIL BBB-    800     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
ECL Finance Ltd                         CC                 CRISIL AA      250     Reaffirmed
ECL Finance Ltd                         LT Bk Fac          CRISIL AA      600     Reaffirmed
ECL Finance Ltd                         Proposed LT Bk     CRISIL AA      150     Reaffirmed
                                        Loan Fac**
**interchangeable with short term bank facilities
ECL Finance Ltd                         Subordinated Debt  CRISIL AA      1400    Reaffirmed
ECL Finance Ltd                         NCD                CRISIL AA      600     Reaffirmed
ECL Finance Ltd                         LT Principal       CRISIL PP- MLD 2000    Reaffirmed
                                        Protected Market   AAr
                                        Linked Debentures
ECL Finance Ltd                         Principal-         CRISIL PP- MLD 600     Reaffirmed
                                        Protected Equity-  AAr
                                        Linked Debentures
ECL Finance Ltd                         Principal-         CRISIL PP- MLD 4550    Reaffirmed
                                        Protected          AAr
                                        Commodity-Linked Debentures
Edelweiss Commodities Services Ltd      LT Bk Fac          CRISIL AA      47500   Reaffirmed
Edelweiss Commodities Services Ltd      Overdraft          CRISIL AA      82500   Reaffirmed
Edelweiss Commodities Services Ltd      Proposed LT Bk     CRISIL AA      1400    Reaffirmed
                                        Loan Fac**
**Interchangeable with short term bank facilities
Edelweiss Commodities Services Ltd      NCD                CRISIL AA      200000  Reaffirmed 
Edelweiss Commodities Services Ltd      PS                 CRISIL AA      320000  Reaffirmed
Gudimetla Sundara Rami Reddy & Co       CC                 CRISIL D       250     Downgraded
                                                                                  from CRISIL B+
Issuer Not Cooperating
H R Hygiene Products Pvt Ltd            TL                 CRISIL B+      31.3    Assigned
H R Hygiene Products Pvt Ltd            CC                 CRISIL B+      20      Assigned
H R Hygiene Products Pvt Ltd            Proposed LT Bk     CRISIL B+      8.7     Assigned
                                        Loan Fac
JBR Impex India Pvt Ltd                 CC                 CRISIL B+      200     Assigned
Kan Biosys Pvt Ltd                      Proposed LT Bk     CRISIL BB      25      Assigned
                                        Loan Fac
Kan Biosys Pvt Ltd                      CC                 CRISIL BB      60      Assigned
Kan Biosys Pvt Ltd                      LT Loan            CRISIL BB      15      Assigned
KIMS Health Care Management Ltd         CC                 CRISIL A-      200     Reaffirmed
KIMS Health Care Management Ltd         LT Loan            CRISIL A-      455     Reaffirmed
Kotak Mahindra Investments Ltd          LT Bk Fac          CRISIL AAA     2000    Reaffirmed
Kotak Mahindra Investments Ltd          Proposed LT Bk     CRISIL AAA     4750    Reaffirmed
                                        Loan Fac*
*Interchangeable with short term facilities
Kotak Mahindra Investments Ltd          WC Demand Loan     CRISIL AAA     8250    Reaffirmed
Kotak Mahindra Investments Ltd          NCD                CRISIL AAA     32000   Reaffirmed
Kotak Mahindra Investments Ltd          Subordinated Debt  CRISIL AAA     2000    Reaffirmed
                                        Issue
Larsen and Toubro Ltd                   LT Bk Fac          CRISIL AAA     850000  Reaffirmed
Larsen and Toubro Ltd                   Non- Convertible   CRISIL AAA     24500   Reaffirmed
                                        Debentures
Larsen and Toubro Ltd                   Inflation- linked  CRISIL AAA     1000    Reaffirmed
                                        Capital- indexed
                                        Non- Convertible Debenture  
Mapsko Builders Pvt Ltd                 TL                   -            87      Withdrawal
Issuer Not Cooperating
Mapsko Builders Pvt Ltd                 TL                 CRISIL B       200     Reaffirmed
Issuer Not Cooperating
Meenu Paper Mills Pvt Ltd               Proposed LT Bk     CRISIL BB-     6500    Assigned
                                        Loan Fac
Meenu Paper Mills Pvt Ltd               LT Loan            CRISIL BB-     1500    Assigned
Meenu Paper Mills Pvt Ltd               CC                 CRISIL BB-     5500    Assigned
National Securities Clearing            Corporate Credit   CCR AAA        4625    Reaffirmed
Corporation Ltd                         Rating
P.A.S. Petro Product                    CC                 CRISIL B       35      Reaffirmed
Purnima Distributors                    CC                 CRISIL BB+     90      Upgraded from
                                                                                  CRISIL BB
Ram Chandra Paul                        CC                 CRISIL BB      10      Reaffirmed
Ravin Cables Ltd                        CC                 CRISIL BBB-    660     Reaffirmed
RCC Eco- Build Systems Ltd              CC                 CRISIL BBB-    326     Reaffirmed
RCC Eco- Build Systems Ltd              TL                 CRISIL BBB-    60      Reaffirmed
RCC Infra Ventures Ltd                  CC                 CRISIL D       15.7    Downgraded
                                                                                  from CRISIL B
Issuer Not Cooperating
RCC Infra Ventures Ltd                  TL                 CRISIL D       62      Downgraded
                                                                                  from CRISIL B
Issuer Not Cooperating
Redington India Ltd                     CC                 CRISIL AA      115000  Upgraded from
                                                                                  CRISIL AA-
Redington India Ltd                     Proposed CC Limit  CRISIL AA      1000    Upgraded from
                                                                                  CRISIL AA-
Refex Energy Ltd                        CC                 CRISIL BBB-    80      Reaffirmed
Refex Energy Ltd                        Proposed WC Fac    CRISIL BBB-    345.5   Reaffirmed
Refex Energy Ltd                        TL                 CRISIL BBB-    30      Assigned
Sagar Asia Pvt Ltd                      TL                 CRISIL BB      2000    Assigned
Sagar Asia Pvt Ltd                      Proposed LT Bk     CRISIL BB      200     Assigned
                                        Loan Fac
Sagar Asia Pvt Ltd                      CC                 CRISIL BB      950     Assigned
Sangita Sales Pvt Ltd                   CC                 CRISIL BB-     310     Assigned;
                                                                                  Suspension
                                                                                  Revoked
Security Printing and Minting           Proposed LT Bk     CRISIL AAA     11500   Reaffirmed
Corporation of India Ltd                Loan Fac
Shiva International                     TL                 CRISIL B       900     Assigned
Shiva International                     CC                 CRISIL B       111     Assigned
Shiva International                     Proposed Fund-     CRISIL B       400     Assigned
                                        Based Bk Limits
Shree Sairam Communications (India) Pvt CC                 CRISIL B+      95      Reaffirmed
Ltd
Shri Bajrang Alloys Ltd                 CC                 CRISIL B       200     Reaffirmed
Shri Bajrang Alloys Ltd                 Proposed LT Bk     CRISIL B       420     Reaffirmed
                                        Loan Fac
Sri Sai Krishna Constructions           CC                 CRISIL BB-     100     Upgraded from
                                                                                  CRISIL B+
Tropical Coatings International Pvt Ltd CC                 CRISIL BB+     200     Withdrawal
Tropical Coatings International Pvt Ltd Foreign Bill       CRISIL BB+     20      Withdrawal
                                        Discounting
Tropical Coatings International Pvt Ltd LOC                CRISIL BB+     95      Withdrawal
Tropical Coatings International Pvt Ltd LT Loan            CRISIL BB+     160     Withdrawal
Tropical Coatings International Pvt Ltd Proposed LT Bk     CRISIL BB+     209     Withdrawal
                                        Loan Fac
Tropical Coatings International Pvt Ltd Standby Line of    CRISIL BB+     20      Withdrawal
                                        Credit
Venkatesh Jewellers                     CC                 CRISIL BBB-    715     Reaffirmed
Venkatesh Jewellers                     Proposed Fund-     CRISIL BBB-    285     Reaffirmed
                                        Based Bk Limits
Vikas Ecotech Ltd                       CC                 CRISIL BBB     740     Reaffirmed
Watch Developing
Vikas Ecotech Ltd                       CC/ Overdraft Fac  CRISIL BBB     400     Reaffirmed
Watch Developing
Vikas Ecotech Ltd                       Export Packing     CRISIL BBB     90      Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Watch Developing
Vikas Ecotech Ltd                       TL                 CRISIL BBB     1770    Reaffirmed
Watch Developing

--------------------------------------------------------------------------------------------
$: 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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