February 19, 2018 / 5:28 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Feb 19

    Feb 19 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of February 16, 2018.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Akay Spices Pvt Ltd                     BG                 CRISIL A4+     13.8    Reaffirmed
Akay Spices Pvt Ltd                     Packing Credit     CRISIL A4+     220     Reaffirmed
Apollo Hospitals International Ltd      Overdraft          CRISIL A3+     180     Reaffirmed
Harvitec Enterprises Pvt Ltd            BG                 CRISIL A4      40      Assigned
HCG Regency Oncology Healthcare Pvt Ltd BG                 CRISIL A2+     50      Assigned
Hi-Tech Butterfly Valves India Pvt Ltd  BG                 CRISIL A4+     15      Reaffirmed
Hi-Tech Butterfly Valves India Pvt Ltd  Bill Discounting   CRISIL A4+     25      Reaffirmed
Hi-Tech Butterfly Valves India Pvt Ltd  LOC                CRISIL A4+     5       Reaffirmed
Kairbetta Estates Syndicate             Post Shipment      CRISIL A4      10      Reaffirmed
                                        Credit
Maxop Engineering Company Pvt Ltd       Pre Shipment CreditCRISIL A3+     90      Upgraded from
                                                                                  CRISIL A3
Omni Impex Pvt Ltd                      BG                 CRISIL A4+     6.7     Reaffirmed
Omni Impex Pvt Ltd                      Import LOC Limit   CRISIL A4+     25      Reaffirmed
Omni Impex Pvt Ltd                      Overdraft          CRISIL A4+     60      Reaffirmed
Omni Impex Pvt Ltd                      Packing Credit     CRISIL A4+     15      Reaffirmed
Rishabh Sponge Ltd                      BG                 CRISIL A4+     35      Reaffirmed
Trans Asian Shipping Services Pvt Ltd   BG                 CRISIL A2      5.8     Reaffirmed
Vantech Chemicals Ltd                   BG                 CRISIL A4+     2.5     Reaffirmed
Vantech Chemicals Ltd                   Foreign Exchange   CRISIL A4+     5       Reaffirmed
                                        Forward
Vantech Chemicals Ltd                   LOC                CRISIL A4+     50.5    Reaffirmed
Vardhman Special Steels Ltd             LOC & BG           CRISIL A1+     1000    Reaffirmed
Vardhman Textiles Ltd                   LOC & BG#          CRISIL A1+     2000    Reaffirmed
# Letter of credit and bank guarantee limits are interchangeable

LONG TERM RATINGS:
-------------------
Akay Spices Pvt Ltd                     LT Loan            CRISIL BB+     133     Reaffirmed
AMJ Land Holdings Ltd                   Proposed LT Bk     Withdrawal     1894.6  Withdrawal
                                        Loan Fac
Apollo Hospitals International Ltd      Proposed LT Bk     CRISIL BBB     150     Reaffirmed
                                        Loan Fac
Apollo Hospitals International Ltd      TL                 CRISIL BBB     770     Reaffirmed
Bahubali Cashews                        CC                 CRISIL B       60      Reaffirmed
Creative Educational Society            LT Loan            CRISIL B+      88      Migrated from
                                                                                  CRISIL B+
Issuer Not Cooperating
Creative Educational Society            Secured Overdraft  CRISIL B+      12      Migrated from
                                        Fac                                       CRISIL B+
Gupta Sons                              CC                 CRISIL BB      80      Reaffirmed
Harvitec Enterprises Pvt Ltd            CC                 CRISIL B       60      Assigned
HCG Regency Oncology Healthcare Pvt Ltd LT Loan            CRISIL A-      600     Assigned
HCG Regency Oncology Healthcare Pvt Ltd CC                 CRISIL A-      50      Assigned
Hi-Tech Butterfly Valves India Pvt Ltd  CC                 CRISIL BB      85      Reaffirmed
Inkal Ventures Pvt Ltd                  BG                 CRISIL D       45      -
Issuer Not Cooperating
Inkal Ventures Pvt Ltd                  CC                 CRISIL D       105     -
Issuer Not Cooperating
Jai Hind Public School                  TL                 CRISIL D       48      Downgraded
                                                                                  from CRISIL B+
Kairbetta Estates Syndicate             CC                 CRISIL B+      45      Reaffirmed
Kairbetta Estates Syndicate             Proposed WC Fac    CRISIL B+      45      Reaffirmed
Kanmani Poultry Farm                    CC                 CRISIL B       74.5    Reaffirmed
Kanmani Poultry Farm                    LT Loan            CRISIL B       15      Reaffirmed
Lifecell International Pvt Ltd          Corporate Credit   CCR BBB        -       Assigned
                                        Rating
Mahant Overseas                         CC                 CRISIL B+      285     Reaffirmed
Mahant Overseas                         Export Packing     CRISIL B+      115     Reaffirmed
                                        Credit
Maxop Engineering Company Pvt Ltd       BG                 CRISIL BBB     4       Upgraded from
                                                                                  CRISIL BBB-
Maxop Engineering Company Pvt Ltd       CC                 CRISIL BBB     70      Upgraded from
                                                                                  CRISIL BBB-
Maxop Engineering Company Pvt Ltd       Export Packing     CRISIL BBB     355     Upgraded from
                                        Credit                                    CRISIL BBB-
Maxop Engineering Company Pvt Ltd       LOC                CRISIL BBB     60      Upgraded from
                                                                                  CRISIL BBB-
Maxop Engineering Company Pvt Ltd       LT Loan            CRISIL BBB     277.3   Upgraded from
                                                                                  CRISIL BBB-
Maxop Engineering Company Pvt Ltd       Post Shipment      CRISIL BBB     205     Upgraded from
                                        Credit                                    CRISIL BBB-
Maxop Engineering Company Pvt Ltd       Proposed TL        CRISIL BBB     5.9     Upgraded from
                                                                                  CRISIL BBB-
Omni Impex Pvt Ltd                      TL                 CRISIL BB      3.3     Upgraded from
                                                                                  CRISIL BB-
Pudumjee Industries Ltd                 Proposed LT Bk     Withdrawal     560     Withdrawal
                                        Loan Fac
Punjab National Bank                    Tier I Bonds       CRISIL AA      30000   -
                                        (Under Basel III)
Rating Watch with Developing Implications
Punjab National Bank                    Infrastructure     CRISIL AAA     50000   -
                                        Bonds
Rating Watch with Developing Implications
Punjab National Bank                    Tier-II Bonds      CRISIL AAA     35000   -
                                        (Under Basel III)
Rating Watch with Developing Implications
Punjab National Bank                    Tier-I Perpetual   CRISIL AAA     26630   -
                                        Bonds (Under Basel
                                        II)
Rating Watch with Developing Implications
Punjab National Bank                    Upper Tier-II      CRISIL AAA     75000   -
                                        Bonds (Under Basel
                                        II)
Rating Watch with Developing Implications
Punjab National Bank                    Lower Tier-II      CRISIL AAA     5600    -
                                        Bonds (Under Basel
                                        II)
Rating Watch with Developing Implications
Rajan Jewellery                         CC                 CRISIL D       100     Downgraded
                                                                                  from CRISIL B-
Rajni Exports & Imports                 CC                 CRISIL B+      150     Reaffirmed
Rajni Exports & Imports                 Proposed LT Bk     CRISIL B+      100     Reaffirmed
                                        Loan Fac
Rishabh Sponge Ltd                      CC                 CRISIL BB-     70      Reaffirmed
S. R. Cotton                            CC                 CRISIL B+      75      Reaffirmed
S. R. Cotton                            Proposed LT Bk     CRISIL B+      4.2     Reaffirmed
                                        Loan Fac
S. R. Cotton                            Proposed TL        CRISIL B+      10.8    Reaffirmed
S. R. Cotton                            Standby Line of    CRISIL B+      10      Reaffirmed
                                        Credit
Saradambika Power Plant Pvt Ltd         Bill Discounting   CRISIL D       6.8     Downgraded
                                        under LOC                                 from CRISIL B+
Saradambika Power Plant Pvt Ltd         Funded Interest TL CRISIL D       35.7    Downgraded
                                                                                  from CRISIL B+
Saradambika Power Plant Pvt Ltd         LT Loan            CRISIL D       283.8   Downgraded
                                                                                  from CRISIL B+
Saradambika Power Plant Pvt Ltd         Open CC            CRISIL D       35      Downgraded
                                                                                  from CRISIL B+
Saradambika Power Plant Pvt Ltd         WC Demand Loan     CRISIL D       44.8    Downgraded
                                                                                  from CRISIL B+
Saradambika Power Plant Pvt Ltd         WC TL              CRISIL D       43.9    Downgraded
                                                                                  from CRISIL B+
Shreenathji-Udaipur Tollway Pvt Ltd     Proposed LT Bk     CRISIL A       20      Assigned
                                        Loan Fac
Shreenathji-Udaipur Tollway Pvt Ltd     TL                 CRISIL A       2930    Assigned
Shri Rewa Rice Mills Pvt Ltd            CC                 CRISIL B+      70      Reaffirmed
Shri Rewa Rice Mills Pvt Ltd            Proposed LT Bk     CRISIL B+      5.5     Reaffirmed
                                        Loan Fac
Shri Rewa Rice Mills Pvt Ltd            TL                 CRISIL B+      74.5    Reaffirmed
Tamilnadu State Transport Corporation   CC                 CRISIL BB-     130     Assigned
(Madurai) Ltd
Trans Asian Shipping Services Pvt Ltd   Foreign Currency TLCRISIL BBB+    88      Reaffirmed
Trans Asian Shipping Services Pvt Ltd   LT Loan            CRISIL BBB+    556.2   Reaffirmed
Trans Asian Shipping Services Pvt Ltd   Overdraft          CRISIL BBB+    200     Reaffirmed
Vantech Chemicals Ltd                   CC                 CRISIL BB      67.5    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Vantech Chemicals Ltd                   LT Loan            CRISIL BB      37.6    Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Vantech Chemicals Ltd                   Proposed LT Bk     CRISIL BB      36.9    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Vardhman Special Steels Ltd             CC                 CRISIL AA-     1500    Reaffirmed
Vardhman Special Steels Ltd             Corporate Loan     CRISIL AA-     1400    Reaffirmed
Vardhman Special Steels Ltd             Foreign Currency TLCRISIL AA-     1110.9  Reaffirmed
Vardhman Special Steels Ltd             TL                 CRISIL AA-     454.3   Reaffirmed
Vardhman Textiles Ltd                   CC*                CRISIL AA+     15000   Reaffirmed
* Includes Rs 1,155 crore sublimit for packing credit
Vardhman Textiles Ltd                   Foreign Bill       CRISIL AA+     2500    Reaffirmed
                                        Purchase
Vardhman Textiles Ltd                   FB Fac^            CRISIL AA+     2000    Reaffirmed
^ Interchangeable with non-fund based limits
Vardhman Textiles Ltd                   Proposed LT Bk     CRISIL AA+     2.3     Reaffirmed
                                        Loan Fac
Vardhman Textiles Ltd                   Proposed Rupee TL  CRISIL AA+     8460    Reaffirmed
Vardhman Textiles Ltd                   Rupee TL           CRISIL AA+     24200   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