February 13, 2019 / 7:29 AM / a month ago

CRISIL ratings for Indian debt instruments-Feb 13

    Feb 13 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of February 12, 2019.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Akshar Enterprises - Nashik             Export Bill        CRISIL A4      25      Reaffirmed
                                        Purchase
                                        -Discounting
Akshar Enterprises - Nashik             Letter Of GuaranteeCRISIL A4      40      Reaffirmed
Amar Jewellers Ltd                      Overdraft          CRISIL A4+     70      Reaffirmed
Balaji Cellphone Pvt Ltd                BG                 CRISIL A3      50      Reaffirmed
Biswajanani Cold Storage Pvt Ltd        BG                 CRISIL A4      2       Reaffirmed
Box Corugators and Offset Printers      BG                 CRISIL A4+     30      Reaffirmed
Chandi Charan Cold Storage Pvt Ltd      BG                 CRISIL A4      2.1     Reaffirmed
Chola Textiles Pvt Ltd                  BG                 CRISIL A2      5.5     Reaffirmed
Chola Textiles Pvt Ltd                  LOC                CRISIL A2      20      Reaffirmed
Chola Textiles Pvt Ltd                  LOC & BG           CRISIL A2      12.8    Reaffirmed
Dev Priya Papers Pvt Ltd                BG                 CRISIL A2      25      Upgraded from
                                                                                  CRISIL A3+
Dev Priya Papers Pvt Ltd                LOC                CRISIL A2      2.5     Upgraded from
                                                                                  CRISIL A3+
Dudhepukur Cold Storage Pvt Ltd         Overdraft          CRISIL A4      11.3    Migrated from
                                                                                  CRISIL A4
Issuer Not Cooperating
Ganpati Enterprises - Muzaffarnagar     Overdraft          CRISIL A4+     70      Withdrawn
Genus Paper & Boards Ltd                Non-FBL            CRISIL A3+     380     -
(Rating reaffirmed and Withdrawn)
Ideas Engineers                         BG                 CRISIL A3      130     Reaffirmed
Linde India Ltd                         CP #               CRISIL A1+     250     Withdrawn
# Not raised by the company
M. E. Infra Projects Pvt Ltd            BG                 CRISIL A4+     290     Reaffirmed
MAF Clothing Pvt Ltd                    LOC                CRISIL A3      40      Reaffirmed
Malani Construction Co.                 BG                 CRISIL A2      1040    Reaffirmed
Meridian Apparels Pvt Ltd               Foreign Demand     CRISIL A4+     50      Reaffirmed
                                        Bill Purchase
Meridian Apparels Pvt Ltd               LOC                CRISIL A4+     40      Reaffirmed
Meridian Apparels Pvt Ltd               Packing Credit     CRISIL A4+     220     Reaffirmed
Narayan Industries                      Bill Discounting   CRISIL A3+     20      Reaffirmed
Narayan Industries                      Packing Credit     CRISIL A3+     80      Reaffirmed
Narayan International                   Bill Discounting   CRISIL A3+     60      Reaffirmed
Narayan International                   Packing Credit     CRISIL A3+     40      Reaffirmed
Narayan International                   Proposed Bill      CRISIL A3+     50      Reaffirmed
                                        Discounting Fac
National Bank For Agriculture and Rural CP                 CRISIL A1+     400000  Reaffirmed
Development
National Bank For Agriculture and Rural One-Year CDs       CRISIL A1+     100000  Reaffirmed
Development                             Programme 
Nirmiti Precision Pvt Ltd               BG                 CRISIL A4+     13      Reaffirmed
Nirmiti Precision Pvt Ltd               LOC                CRISIL A4+     5       Reaffirmed
Pandian Textile Mills Pvt Ltd           BG                 CRISIL A2      2.3     Reaffirmed
Pandiyan Meena Paper Company (EKM)      Proposed BG        CRISIL A4+     5       Withdrawn
Pro-Arc Welding and Cutting Systems Pvt LOC & BG           CRISIL A4+     40      Reaffirmed
Ltd
Pro-Arc Welding and Cutting Systems Pvt Proposed LOC & BG  CRISIL A4+     19      Reaffirmed
Ltd
RKB Global Pvt Ltd                      LOC                CRISIL A4      1150    Downgraded
                                                                                  from CRISIL
                                                                                  A4+
RKB Global Pvt Ltd                      Packing Credit     CRISIL A4      250     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Sarada Projects Ltd                     BG                 CRISIL A4      50      Reaffirmed
Sebros Industries Pvt Ltd               Inland/Import LOC  CRISIL A3+     10      Reaffirmed
Sebros Industries Pvt Ltd               Packing Credit     CRISIL A3+     30      Reaffirmed
Shah Brothers - Mumbai                  BG                 CRISIL A4+     5       Withdrawn
Shah Brothers - Mumbai                  LOC                CRISIL A4+     15      Withdrawn
Shivaji Roller Flour Mills Pvt Ltd      BG                 CRISIL A4+     25      Withdrawn
Shivaji Roller Flour Mills Pvt Ltd      Proposed LT Bk     CRISIL A4+     25      Withdrawn
                                        Loan Fac
Shree Sai Calnates India Pvt Ltd        BG                 CRISIL A4+     20      Reaffirmed
Soorajmull Baijnath Pvt Ltd             BG                 CRISIL A3      80      Reaffirmed
Soorajmull Baijnath Pvt Ltd             LOC                CRISIL A3      120     Reaffirmed
Suman Creation                          Export Packing     CRISIL A4+     100     Reaffirmed
                                        Credit
Suman Creation                          Proposed ST Bk     CRISIL A4+     25      Reaffirmed
                                        Loan Fac
Taj Leather Works                       Packing Credit     CRISIL A4      22      Reaffirmed
Taj Leather Works                       Post Shipment      CRISIL A4      24.7    Reaffirmed
                                        Credit
Tata Industries Ltd                     Rs.50 Crore ST     CRISIL A1+     500     Reaffirmed
                                        Debt
Tata Industries Ltd                     Rs.200 Crore CP    CRISIL A1+     2000    Reaffirmed
Tayal Sons Ltd                          Bill Discounting   CRISIL A3+     100     Upgraded from
                                                                                  CRISIL A3
Unisource Papers Pvt Ltd                LOC                CRISIL A4+     70      Reaffirmed
Universal Exports                       Export Bill        CRISIL A4      25      Reaffirmed
                                        Purchase
                                        -Discounting
Universal Exports                       Letter Of GuaranteeCRISIL A4      40      Reaffirmed
Vigyan Bharati Charitable Trust         BG                 CRISIL A4+     25      Migrated from
                                                                                  CRISIL A4+
Issuer Not Cooperating

MEDIUM TERM RATINGS:
-------------------
National Bank For Agriculture and Rural FD Programme       FAAA           1000    Reaffirmed
Development


LONG TERM RATINGS:
-------------------
Ahuja Synfab Pvt Ltd                    CC                 CRISIL BB      465     Reaffirmed
Ahuja Synfab Pvt Ltd                    LT Loan            CRISIL BB      200.5   Reaffirmed
Ahuja Synfab Pvt Ltd                    Proposed LT Bk     CRISIL BB      41.2    Reaffirmed
                                        Loan Fac
Ahuja Synfab Pvt Ltd                    TL                 CRISIL BB      143.3   Reaffirmed
Amar Jewellers Ltd                      CC                 CRISIL BB      450     Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Amar Jewellers Ltd                      Proposed LT Bk     CRISIL BB      250     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+/Stable
Ambalika Welfare Foundation             Overdraft          CRISIL BBB     90      Reaffirmed
Ambalika Welfare Foundation             Proposed LT Bk     CRISIL BBB     52.9    Reaffirmed
                                        Loan Fac
Ambalika Welfare Foundation             TL                 CRISIL BBB     31.1    Reaffirmed
Asian Ventures                          TL                 CRISIL B+      80.2    Reaffirmed
Balaji Cellphone Pvt Ltd                CC                 CRISIL BBB-    170     Reaffirmed
Biswajanani Cold Storage Pvt Ltd        CC                 CRISIL B+      116.3   Upgraded from
                                                                                  CRISIL B
Biswajanani Cold Storage Pvt Ltd        Proposed LT Bk     CRISIL B+      24.1    Upgraded from
                                        Loan Fac                                  CRISIL B
Biswajanani Cold Storage Pvt Ltd        TL                 CRISIL B+      15.7    Upgraded from
                                                                                  CRISIL B
Biswajanani Cold Storage Pvt Ltd        WC Loan            CRISIL B+      16.9    Upgraded from
                                                                                  CRISIL B
Box Corugators and Offset Printers      CC                 CRISIL BB-     30      Reaffirmed
Box Corugators and Offset Printers      Proposed FB Bk     CRISIL BB-     60      Reaffirmed
                                        Limits
Chandi Charan Cold Storage Pvt Ltd      CC                 CRISIL B       61.5    Reaffirmed
Chandi Charan Cold Storage Pvt Ltd      Proposed LT Bk     CRISIL B       50.6    Reaffirmed
                                        Loan Fac
Chandi Charan Cold Storage Pvt Ltd      TL                 CRISIL B       9.5     Reaffirmed
Chandi Charan Cold Storage Pvt Ltd      WC Fac             CRISIL B       11.7    Reaffirmed
Chola Textiles Pvt Ltd                  CC                 CRISIL BBB+    200     Reaffirmed
Chola Textiles Pvt Ltd                  Proposed LT Bk     CRISIL BBB+    62.4    Reaffirmed
                                        Loan Fac
Dev Priya Papers Pvt Ltd                CC                 CRISIL BBB+    90      Upgraded from
                                                                                  CRISIL BBB
Dev Priya Papers Pvt Ltd                Proposed LT Bk     CRISIL BBB+    70      Upgraded from
                                        Loan Fac                                  CRISIL BBB
Dev Priya Papers Pvt Ltd                TL                 CRISIL BBB+    80      Upgraded from
                                                                                  CRISIL BBB
Dudhepukur Cold Storage Pvt Ltd         CC                 CRISIL B-      60.3    Migrated from
                                                                                  CRISIL B-
Issuer Not Cooperating
Dudhepukur Cold Storage Pvt Ltd         TL                 CRISIL B-      15.3    Migrated from
                                                                                  CRISIL B-
Issuer Not Cooperating
Ganpati Enterprises - Muzaffarnagar     CC                 CRISIL BB      40      Withdrawn
Genus Paper & Boards Ltd                CC                 CRISIL BBB     312     -
(Rating reaffirmed and Withdrawn)
Genus Paper & Boards Ltd                FB Fac             CRISIL BBB     250     -
(Rating reaffirmed and Withdrawn)
Genus Paper & Boards Ltd                Proposed FB Bk     CRISIL BBB     108     -
                                        Limits
(Rating reaffirmed and Withdrawn)
Genus Paper & Boards Ltd                TL                 CRISIL BBB     100     -
(Rating reaffirmed and Withdrawn)
Goaltore Cold Storage Pvt Ltd           CC                 CRISIL B-      60      Reaffirmed
Goaltore Cold Storage Pvt Ltd           Proposed CC Limit  CRISIL B-      40      Reaffirmed
Goaltore Cold Storage Pvt Ltd           WC Demand Loan     CRISIL B-      10      Reaffirmed
Ideas Engineers                         CC                 CRISIL BBB-    50      Reaffirmed
Ideas Engineers                         Proposed BG        CRISIL BBB-    90      Reaffirmed
Ideas Engineers                         Proposed LT Bk     CRISIL BBB-    70      Reaffirmed
                                        Loan Fac
India Infoline Finance Ltd              Series A PTCs      Provisional    2365.5  Assigned
                                                           CRISIL AAA (SO)
Innovative Techno Park Pvt Ltd          Overdraft          CRISIL BBB-    300     Reaffirmed
Innovative Techno Park Pvt Ltd          Proposed LT Bk     CRISIL BBB-    110     Reaffirmed
                                        Loan Fac
Innovative Techno Park Pvt Ltd          TL                 CRISIL BBB-    550     Reaffirmed
Keros Stone LLP                         BG                 CRISIL D       10.7    Downgraded
                                                                                  from CRISIL B+
Keros Stone LLP                         CC                 CRISIL D       30      Downgraded
                                                                                  from CRISIL B+
Keros Stone LLP                         LT Loan            CRISIL D       60.9    Downgraded
                                                                                  from CRISIL B+
Keros Stone LLP                         Proposed CC Limit  CRISIL D       0.4     Downgraded
                                                                                  from CRISIL B+
Linde India Ltd                         Overdraft*         CRISIL AA      6481.8  Reaffirmed
* Interchangeable with fund-based and non-fund-based bank facilities.
Linde India Ltd                         TL                 CRISIL AA      3100    Reaffirmed
M. E. Infra Projects Pvt Ltd            CC                 CRISIL BB+     70      Reassigned
MAF Clothing Pvt Ltd                    Export Packing     CRISIL BBB-    320     Reaffirmed
                                        Credit
MAF Clothing Pvt Ltd                    Foreign Bill       CRISIL BBB-    370     Reaffirmed
                                        Discounting
MAF Clothing Pvt Ltd                    LT Loan            CRISIL BBB-    171.4   Reaffirmed
MAF Clothing Pvt Ltd                    Proposed LT Bk     CRISIL BBB-    49.1    Reaffirmed
                                        Loan Fac
MAF Clothing Pvt Ltd                    Standby Line of    CRISIL BBB-    69.5    Reaffirmed
                                        Credit
Malani Construction Co.                 CC                 CRISIL BBB+    210     Reaffirmed
Meridian Apparels Pvt Ltd               CC                 CRISIL BB-     10      Reaffirmed
Meridian Apparels Pvt Ltd               Foreign Bill       CRISIL BB-     40      Reaffirmed
                                        Discounting
Meridian Apparels Pvt Ltd               Proposed LT Bk     CRISIL BB-     105     Reaffirmed
                                        Loan Fac
Meridian Apparels Pvt Ltd               Standby Line of    CRISIL BB-     10      Reaffirmed
                                        Credit
Mukunda Dairy Products Pvt Ltd          CC                 CRISIL BB+     100     Reaffirmed
Mukunda Dairy Products Pvt Ltd          Proposed LT Bk     CRISIL BB+     20      Reaffirmed
                                        Loan Fac
Narayan Industries                      Secured Overdraft  CRISIL BBB     20      Reaffirmed
                                        against term
                                        deposits
National Bank For Agriculture and Rural LT Bk Fac          CRISIL AAA     300000  Reaffirmed
Development
National Bank For Agriculture and Rural Bonds              CRISIL AAA     100000  Assigned
Development
National Bank For Agriculture and Rural Bonds              CRISIL AAA     1950000 Reaffirmed
Development
National Bank For Agriculture and Rural Tax-Free Bonds     CRISIL AAA     50000   Reaffirmed
Development
Nirmiti Precision Pvt Ltd               CC                 CRISIL BB+     140     Reaffirmed
Outlook revised from Stable and rating reaffirmed
Nirmiti Precision Pvt Ltd               Rupee TL           CRISIL BB+     282     Reaffirmed
Outlook revised from Stable and rating reaffirmed
Nuvolo Technologies India Pvt Ltd       LT Rating          CRISIL B-      -       Reaffirmed
Pallava Spinning Mills Pvt Ltd          CC                 CRISIL BBB+    400     Reaffirmed
Pallava Spinning Mills Pvt Ltd          Proposed LT Bk     CRISIL BBB+    555.3   Reaffirmed
                                        Loan Fac
Pallava Spinning Mills Pvt Ltd          TL                 CRISIL BBB+    80      Reaffirmed
Pandian Textile Mills Pvt Ltd           CC                 CRISIL BBB+    210     Reaffirmed
Pandian Textile Mills Pvt Ltd           Proposed LT Bk     CRISIL BBB+    67.7    Reaffirmed
                                        Loan Fac
Pandiyan Meena Paper Company (EKM)      Proposed CC Limit  CRISIL BB      195     Withdrawn
Parcos Tiles LLP                        BG                 CRISIL D       40      Downgraded
                                                                                  from CRISIL B+
Parcos Tiles LLP                        CC                 CRISIL D       80      Downgraded
                                                                                  from CRISIL B+
Parcos Tiles LLP                        TL                 CRISIL D       180     Downgraded
                                                                                  from CRISIL B+
Pro-Arc Welding and Cutting Systems Pvt CC                 CRISIL BB-     56      Reaffirmed
Ltd
Pro-Arc Welding and Cutting Systems Pvt Proposed CC Limit  CRISIL BB-     15      Reaffirmed
Ltd
R and M International Pvt Ltd           BG                 CRISIL D       6       Assigned
Suspension Revoked
R and M International Pvt Ltd           CC                 CRISIL D       69      Assigned
Suspension Revoked
R and M International Pvt Ltd           Proposed FB Bk     CRISIL D       11      Assigned
                                        Limits
Suspension Revoked
R and M International Pvt Ltd           TL                 CRISIL D       14      Assigned
Suspension Revoked
RKB Global Pvt Ltd                      CC                 CRISIL B       325     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
S. S. T. Packaging Pvt Ltd              CC                 CRISIL B       5       Reaffirmed
S. S. T. Packaging Pvt Ltd              Proposed LT Bk     CRISIL B       2       Reaffirmed
                                        Loan Fac
S. S. T. Packaging Pvt Ltd              TL                 CRISIL B       52      Reaffirmed
S.D. Auto Engineering Works Pvt Ltd     CC                 CRISIL BBB     80      Reaffirmed
S.D. Auto Engineering Works Pvt Ltd     TL                 CRISIL BBB     20      Reaffirmed
Sahyog Cotton and Oil Pvt Ltd           CC                 CRISIL BB-     400     Reaffirmed
Sahyog Cotton and Oil Pvt Ltd           Proposed LT Bk     CRISIL BB-     18.5    Reaffirmed
                                        Loan Fac
Sahyog Cotton and Oil Pvt Ltd           TL                 CRISIL BB-     1.5     Reaffirmed
Sarada Projects Ltd                     CC                 CRISIL B+      10      Upgraded from
                                                                                  CRISIL
                                                                                  B/Stable
Sarada Projects Ltd                     Proposed LT Bk     CRISIL B+      150     Upgraded from
                                        Loan Fac                                  CRISIL
                                                                                  B/Stable
Sebros Industries Pvt Ltd               CC                 CRISIL BBB     50      Reaffirmed
(Outlook revised from Stable)
Sebros Industries Pvt Ltd               Proposed LT Bk     CRISIL BBB     10      Reaffirmed
                                        Loan Fac
(Outlook revised from Stable)
Shah Brothers - Mumbai                  CC                 CRISIL BB      42.5    Withdrawn
Shah Brothers - Mumbai                  Proposed LT Bk     CRISIL BB      37.5    Withdrawn
                                        Loan Fac
Shivaji Roller Flour Mills Pvt Ltd      CC                 CRISIL BB-     100     Reaffirmed
Shree Ram Cotex                         CC                 CRISIL B       60      Reaffirmed
Shree Ram Cotex                         TL                 CRISIL B       27.5    Reaffirmed
Shree Sai Calnates India Pvt Ltd        CC                 CRISIL BB      118.2   Reaffirmed
Shri Sharan Solar Pvt Ltd               TL                 CRISIL B       115     Migrated from
                                                                                  CRISIL
                                                                                  B
Issuer Not Cooperating
Soorajmull Baijnath Pvt Ltd             CC                 CRISIL BBB-    200     Reaffirmed
Sun Associates                          TL                 CRISIL BB+     65      Withdrawn
Taj Leather Works                       CC                 CRISIL B-      1.2     Reaffirmed
Taj Leather Works                       Proposed LT Bk     CRISIL B-      33.4    Reaffirmed
                                        Loan Fac
Taj Leather Works                       TL                 CRISIL B-      1.7     Reaffirmed
Tata Advanced Materials Ltd             CC*                CRISIL A+      3600    -
Continues on Rating Watch with Developing Implications,*interchangeable with Packing
Credit/Overdraft/Bill discounting /Letter of credit /Bank Guarantee.
Tata Advanced Materials Ltd             TL                 CRISIL A+      500     -
Continues on Rating Watch with Developing Implications
Tata Advanced Materials Ltd             NCD                CRISIL AAA(SO) 1000    Upgraded from
                                                                                  CRISIL AA+(SO)
Tata Industries Ltd                     NCD                CRISIL AAA     60000   Assigned
Tayal Sons Ltd                          CC                 CRISIL BBB     250     Upgraded from
                                                                                  CRISIL BBB-
Unisource Papers Pvt Ltd                CC                 CRISIL BB      50      Migrated from
                                                                                  CRISIL BB-
Issuer Not Cooperating
Unisource Papers Pvt Ltd                Proposed LT Bk     CRISIL BB      51.7    Upgraded from
                                        Loan Fac                                  CRISIL BB-
Unisource Papers Pvt Ltd                TL                 CRISIL BB      48.3    Upgraded from
                                                                                  CRISIL BB-
Vigyan Bharati Charitable Trust         LT Loan            CRISIL BB+     70      Migrated from
                                                                                  CRISIL BB
Issuer Not Cooperating
Vigyan Bharati Charitable Trust         Proposed Overdraft CRISIL BB+     155     Migrated from
                                        Fac                                       CRISIL BB
Issuer Not Cooperating
Vigyan Bharati Charitable Trust         Secured Overdraft  CRISIL BB+     125     Migrated from
                                        Fac                                       CRISIL BB
Issuer Not Cooperating
--------------------------------------------------------------------------------------------
$: 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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