February 20, 2018 / 3:35 AM / 9 months ago

CRISIL ratings for Indian debt instruments-Feb 20

    Feb 20 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of February 19, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Action Construction Equipment Ltd       LOC & BG           CRISIL A1      1350    Reaffirmed
Action Construction Equipment Ltd       CP Programme       CRISIL A1      250     Reaffirmed
Alert India Pvt Ltd                     Import LOC Limit   CRISIL A4+     40
Issuer Not Cooperating; Migrated from 'CRISIL A3'
Amar Roller Flour Mills - Jammu         BG                 CRISIL A4+     180
Issuer Not Cooperating
Apothecon Pharmaceuticals Pvt Ltd       LOC                CRISIL A3      25      Assigned
Apothecon Pharmaceuticals Pvt Ltd       Foreign Exchange   CRISIL A3      20      Assigned
                                        Forward
Assam Timber Store                      LOC                CRISIL A4      50      Reaffirmed
Bhumi Developers                        BG                 CRISIL A4+     50      Reaffirmed
Canbank Factors Ltd                     ST Debt Programme  CRISIL A1+     2000    Reaffirmed
D.C. Gurbaxani                          BG                 CRISIL A3+     300     Assigned
Electronet Equipments Pvt Ltd           BG                 CRISIL A4      40      Reaffirmed
Electronet Equipments Pvt Ltd           Bill Discounting   CRISIL A4      10      Reaffirmed
                                        under LOC
Haldia Petrochemicals Ltd               CP Programme       CRISIL A1+     1000    Reaffirmed
Kanpur Edibles Pvt Ltd                  LOC                CRISIL A3+     4000    Reaffirmed
Issuer Not Cooperating; Rating Migrated
Khayati Steel Industries Pvt Ltd        BG                 CRISIL A3+     210     Reaffirmed
M.S.Kaarthikeyan Garments               Foreign Bill       CRISIL A4+     32.5    Reaffirmed
                                        Discounting
M.S.Kaarthikeyan Garments               Inland/Import LOC  CRISIL A4+     5       Reaffirmed
M.S.Kaarthikeyan Garments               Packing Credit     CRISIL A4+     60      Reaffirmed
Maruti Constructions                    BG                 CRISIL A4+     30      Reaffirmed
MSK Creations Pvt Ltd                   Packing Credit in  CRISIL A4+     70      Reaffirmed
                                        Foreign Currency
Migrated from 'CRISIL A4+' Issuer Not Cooperating
Paramount Building Solutions Pvt Ltd    BG                 CRISIL A4+     20
Paramount Building Solutions Pvt Ltd    LOC                CRISIL A4+     20
Pioneer Publicity Corporation Pvt Ltd   BG                 CRISIL A2      200
Upgraded from 'CRISIL A3+'
PNB Gilts Ltd                           ST Rating          CRISIL A4+
Upgraded from 'CRISIL A4'
PNB Housing Finance Ltd                 ST Rating          CRISIL A4+             Reaffirmed
Prakash Chand Rai                       BG                 CRISIL A4+     145
Puthupalayam Timber Industries          LOC                CRISIL A4      90      Reaffirmed
Migrated from 'CRISIL A4' Issuer Not Cooperating
Ramjee Leathers and Supplies            BG                 CRISIL A4+     5       Reaffirmed
S.P.K. and Co.                          BG                 CRISIL A2      400
Upgraded from CRISIL A3+
S.P.K. and Co.                          Proposed BG        CRISIL A2      500
Upgraded from CRISIL A3+
S.P.K. and Co.                          ST Loan            CRISIL A2      300
Upgraded from CRISIL A3+
Shree Vasavi Exports                    Export Packing     CRISIL A4      30      Reaffirmed
                                        Credit
Migrated from 'CRISIL A4' Issuer Not Cooperating
SKP Projects Pvt Ltd                    BG                 CRISIL A4+     90      Reaffirmed
The Cotton and Textile Corp             Foreign            CRISIL A4      20      Reaffirmed
                                        Documentary Bills
                                        Purchase
The Cotton and Textile Corp             LOC                CRISIL A4      5       Reaffirmed
The Cotton and Textile Corp             Packing Credit in  CRISIL A4      60      Reaffirmed
                                        Foreign Currency

LONG TERM RATINGS:
-------------------
Action Construction Equipment Ltd       CC$                CRISIL A+      950
Upgraded from 'CRISIL A' ; $Interchangeable with letter of credit or bank guarantee to the
extent of Rs 5 crore
Action Construction Equipment Ltd       LOC & BG*          CRISIL A+      400
Upgraded from 'CRISIL A' ; *Interchangeable with cash credit to the extent of Rs 40 crore
Action Construction Equipment Ltd       TL                 CRISIL A+      250
Upgraded from 'CRISIL A'
Alert India Pvt Ltd                     CC                 CRISIL BB+     20
Issuer Not Cooperating; Migrated from 'CRISIL BBB-'
Alert India Pvt Ltd                     Proposed FB Bk     CRISIL BB+     100
                                        Limits
Issuer Not Cooperating; Migrated from 'CRISIL BBB-'
Alert India Pvt Ltd                     TL                 CRISIL BB+     40
Issuer Not Cooperating; Migrated from 'CRISIL BBB-'
Amar Ginning Factory                    CC                 CRISIL B+      67.5    Reaffirmed
Amar Roller Flour Mills - Jammu         CC                 CRISIL BB+     670
Issuer Not Cooperating
Apothecon Pharmaceuticals Pvt Ltd       LT Loan            CRISIL BBB-    510     Assigned
Apothecon Pharmaceuticals Pvt Ltd       CC                 CRISIL BBB-    110     Assigned
ASR Industries                          LT Loan            CRISIL B+      10.1    Reaffirmed
Migrated from 'CRISIL B+' Issuer Not Cooperating
ASR Industries                          Open CC            CRISIL B+      69.9    Reaffirmed
Migrated from 'CRISIL B+' Issuer Not Cooperating
Assam Timber Store                      CC                 CRISIL B       17.5    Reaffirmed
Assam Timber Store                      Proposed LT Bk     CRISIL B       32.5    Reaffirmed
                                        Loan Fac
Bhumi Developers                        CC                 CRISIL BB      40      Reaffirmed
Bhumi Developers                        Proposed LT Bk     CRISIL BB      110     Assigned
                                        Loan Fac

Brijraj Agro Products Pvt Ltd           CC                 CRISIL B       34      Assigned
Brijraj Agro Products Pvt Ltd           TL                 CRISIL B       27      Assigned
D.C. Gurbaxani                          CC                 CRISIL BBB     200     Assigned
Earth Trust                             Proposed LT Bk     CRISIL B       200     Reaffirmed
                                        Loan Fac
Issuer Not Cooperating: Rating migrated
Electronet Equipments Pvt Ltd           CC                 CRISIL B+      50      Reaffirmed
Electronet Equipments Pvt Ltd           LT Loan            CRISIL B+      36      Reaffirmed
Haldia Petrochemicals Ltd               Bond Issue         CRISIL AA-     10000   Assigned
India Trade Links                       CC                 CRISIL BB+     100     Reaffirmed
Kanpur Edibles Pvt Ltd                  CC                 CRISIL BBB     400     Reaffirmed
Issuer Not Cooperating; Rating Migrated
Khayati Steel Industries Pvt Ltd        CC                 CRISIL BBB     450     Reaffirmed
Khayati Steel Industries Pvt Ltd        LT Loan            CRISIL BBB     58      Reaffirmed
Khayati Steel Industries Pvt Ltd        Proposed LT Bk     CRISIL BBB     160.6   Reaffirmed
                                        Loan Fac
M.G. Brothers Industries Pvt Ltd        Electronic Dealer  CRISIL BB      112.5   Assigned
                                        Financing
                                        Scheme(e-DFS)
M.G. Brothers Industries Pvt Ltd        Proposed LT Bk     CRISIL BB      57.5    Assigned
                                        Loan Fac
M.S.Kaarthikeyan Garments               Proposed Rupee TL  CRISIL BB-     52.5    Reaffirmed
Malwa Automotives Pvt Ltd               CC                 CRISIL B+      180     Assigned
Malwa Automotives Pvt Ltd               TL                 CRISIL B+      20      Assigned
Maruti Constructions                    CC                 CRISIL BB      30      Reaffirmed
MSK Creations Pvt Ltd                   Foreign Bill       CRISIL BB-     10      Reaffirmed
                                        Discounting
Migrated from 'CRISIL BB-' Issuer Not Cooperating
MSK Creations Pvt Ltd                   Proposed LT Bk     CRISIL BB-     5       Reaffirmed
                                        Loan Fac
Migrated from 'CRISIL BB-' Issuer Not Cooperating
Naturo Food and Fruit Products Pvt Ltd  CC                 CRISIL B       60      Reaffirmed
Naturo Food and Fruit Products Pvt Ltd  LT Loan            CRISIL B       13.5    Reaffirmed
Naturo Food and Fruit Products Pvt Ltd  Proposed LT Bk     CRISIL B       9.5     Reaffirmed
                                        Loan Fac
Navanaami Projects Pvt Ltd              LT Loan            CRISIL B+      100     Assigned
Paramount Building Solutions Pvt Ltd    CC                 CRISIL BB-     40      Reaffirmed
Paramount Building Solutions Pvt Ltd    Proposed CC Limit  CRISIL BB-     20      Assigned
Pioneer Publicity Corporation Pvt Ltd   CC                 CRISIL BBB+    350
Upgraded from 'CRISIL BBB'
PNB Gilts Ltd                           Ratings
Ratings of PNB Housing Finance Limited and PNB Gilts Limited unaffected by rating action on
Punjab National Bank
PNB Housing Finance Ltd                 Ratings
Ratings of PNB Housing Finance Limited and PNB Gilts Limited unaffected by rating action on
Punjab National Bank
Prakash Chand Rai                       CC                 CRISIL BB      9.5
Upgraded from 'CRISIL B+'
Puthupalayam Timber Industries          CC                 CRISIL B+      10
Migrated from 'CRISIL B' Issuer Not Cooperating
Rahis Cold Storage Pvt Ltd              CC                 CRISIL B       75      Reaffirmed
Rahis Cold Storage Pvt Ltd              TL                 CRISIL B       35      Assigned
Ramjee Leathers and Supplies            Bill Discounting   CRISIL BB      25      Reaffirmed
Ramjee Leathers and Supplies            Export Packing     CRISIL BB      30      Reaffirmed
                                        Credit
Ramjee Leathers and Supplies            Proposed LT Bk     CRISIL BB      7.4     Reaffirmed
                                        Loan Fac
Ramjee Leathers and Supplies            WC TL              CRISIL BB      32.6    Assigned
RHJ Tubes Pvt Ltd                       Buyer`s Credit     CRISIL B+      45      Assigned
RHJ Tubes Pvt Ltd                       CC                 CRISIL B+      105     Assigned
S.P.K. and Co.                          Overdraft          CRISIL BBB+    600
Upgraded from CRISIL BBB
S.P.K. and Co.                          Proposed Overdraft CRISIL BBB+    200
                                        Fac
Upgraded from CRISIL BBB
Shree Agencies-Jammu                    CC                 CRISIL BB-     100     Assigned
Shree Vasavi Exports                    CC                 CRISIL B       30      Reaffirmed
Migrated from 'CRISIL B' Issuer Not Cooperating
Shree Vasavi Exports                    Foreign Bill       CRISIL B       10      Reaffirmed
                                        Purchase
Migrated from 'CRISIL B' Issuer Not Cooperating
Shree Vasavi Exports                    Key CC             CRISIL B       30      Reaffirmed
Migrated from 'CRISIL B' Issuer Not Cooperating
SKP Projects Pvt Ltd                    CC                 CRISIL BB-     35      Reaffirmed
SKP Projects Pvt Ltd                    Proposed LT Bk     CRISIL BB-     2.5     Reaffirmed
                                        Loan Fac
Sudheer Builders & Developers           Secured Overdraft  CRISIL B+      100     Assigned
                                        Fac
The Cotton and Textile Corp             Proposed LT Bk     CRISIL B+      5       Reaffirmed
                                        Loan Fac
The LNM Institute of Information        Proposed LT Bk     CRISIL BBB+    100     Reaffirmed
Technology                              Loan Fac
Issuer Not Cooperating; Rating Migrated
The Metal Powder Co. Ltd                LT Loan            CRISIL A-      495     Reaffirmed
The Metal Powder Co. Ltd                Proposed LT Bk     CRISIL A-      305     Reaffirmed
                                        Loan Fac
The Totgars Co-operative Sale Society   WC Demand Loan     CRISIL BBB     430     Reaffirmed
Ltd
Vamona Developers Pvt Ltd               Lease Rental       CRISIL BBB-    6330    Assigned
                                        Discounting Loan*
*Includes sublimit of overdraft facility of Rs.65 crore
Vamona Developers Pvt Ltd               Proposed LT Bk     CRISIL BBB-    170     Assigned
                                        Loan Fac
Vraj Realtors                           LT Loan            CRISIL B+      600     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)
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