January 10, 2018 / 4:43 AM / 9 days ago

CRISIL ratings for Indian debt instruments-Jan 10

    Jan 10 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 9, 2018.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A. K. G. Steel Industries               LOC                CRISIL A4+     30      Reaffirmed
Alliaance Biotech                       Import LOC Limit   CRISIL A4      7.5     Reaffirmed
Allied Recycling Ltd                    Proposed ST Bk     CRISIL A4      20      Reaffirmed
                                        Loan Fac
Exel Chemicals (India) Pvt Ltd          Foreign Bill       CRISIL A4+     65      Reaffirmed
                                        Purchase
Exel Chemicals (India) Pvt Ltd          Foreign Exchange   CRISIL A4+     10      Reaffirmed
                                        Forward
Exel Chemicals (India) Pvt Ltd          Inland/Import LOC  CRISIL A4+     15      Reaffirmed
Gaba Overseas Pvt Ltd                   Proposed LOC       CRISIL A3+     80      Reaffirmed
GNA Gears Ltd                           BG                 CRISIL A4+     5       Reaffirmed
GNA Gears Ltd                           LOC                CRISIL A4+     50      Reaffirmed
Golden Metal Pvt Ltd                    LOC                CRISIL A4+     37.5    Reaffirmed
Goodluck India Ltd                      BG                 CRISIL A3+     390     Reaffirmed
Goodluck India Ltd                      LOC                CRISIL A3+     704.9   Reaffirmed
Infab Infrastructure Pvt Ltd            BG*                CRISIL A4+     65      Reaffirmed
*Letter of credit facility of Rs.2 crore as a sub-limit of Bank Guarantee facility
Infab Infrastructure Pvt Ltd            LOC                CRISIL A4+     35      Reaffirmed
Jammu Pigments Ltd                      Buyer`s Credit     CRISIL A4      80      Reaffirmed
Jammu Pigments Ltd                      Standby LOC        CRISIL A4      20      Reaffirmed
Kargwal Constructions Pvt Ltd           BG                 CRISIL A4+     130     Reaffirmed
Kukadi Sahakari Sakhar Karkhana Ltd     ST Loan            CRISIL D       150     Downgraded
                                                                                  from CRISIL A4
Lancosa Ceramic LLP                     BG                 CRISIL A4      20      Assigned
Lata Fibres Pvt Limite                  BG                 CRISIL A4      3.5     Reassigned
Lata Fibres Pvt Limite                  LOC                CRISIL A4      2.5     Assigned
M S Ship Breaking Pvt Ltd               Import LOC Limit   CRISIL A4      65      Reaffirmed
M/s. Shantilal B. Patel                 Letter Of GuaranteeCRISIL A3+     119     Reaffirmed
Maco Pvt Ltd                            Inland/Import LOC  CRISIL A4+     10      Reaffirmed
Maharashtra Natural Gas Ltd             BG^^               CRISIL A1      1000    Reaffirmed
^^ Two way interchangeable along with Letter of Credit limit of Rs 25 crore
Maharashtra Natural Gas Ltd             LOC^               CRISIL A1      250     Reaffirmed
^ Two way interchangeable along with bank guarantee limit of Rs 100 crore
Meridian Corporation                    LOC                CRISIL A4+     10      Reaffirmed
Mittal Pigments Pvt Ltd                 Buyer`s Credit     CRISIL A4      200     Reaffirmed
Nestle India Ltd                        BG                 CRISIL A1+     250     Reaffirmed
Nestle India Ltd                        LOC & BG**         CRISIL A1+     1612.5  Reaffirmed
**Fully interchangeable with fund based facilities
Nestle India Ltd                        LOC & BG           CRISIL A1+     1300    Reaffirmed
Nestle India Ltd                        ST Debt            CRISIL A1+     7000    Reaffirmed
New India Infra Buildtech Ltd           BG                 CRISIL A4+     80      Reaffirmed
NKS Construction And Engineers Pvt Ltd  BG                 CRISIL A4+     150     -
Migrated from CRISIL B+/Stable Issuer Not Cooperating
Pathania Education Society              Overdraft          CRISIL A4      27.5    Reaffirmed
Pee Gee Fabrics Pvt Ltd                 BG                 CRISIL A4+     2.5     Reaffirmed
Pee Gee Fabrics Pvt Ltd                 LOC                CRISIL A4+     30      Reaffirmed
Pradeep Metals Ltd                      BG                 CRISIL A4+     30      Reaffirmed
Pradeep Metals Ltd                      Export Bill        CRISIL A4+     210     Reaffirmed
                                        Purchase
Pradeep Metals Ltd                      Foreign Exchange   CRISIL A4+     15.3    Reaffirmed
                                        Forward
Pradeep Metals Ltd                      Packing Credit in  CRISIL A4+     210     Reaffirmed
                                        Foreign Currency
Prem Industries (Ahmedabad)             BG                 CRISIL A4+     4       Reaffirmed
Prem Industries (Ahmedabad)             LOC                CRISIL A4+     10      Reaffirmed
Reliance Industries Ltd                 CP                 CRISIL A1+     200000  Reaffirmed
Reliance Industries Ltd                 ST Debt            CRISIL A1+     45000   Reaffirmed
Reliance Jio Infocomm Ltd               CP                 CRISIL A1+     60000   Reaffirmed
Rhine Solar Ltd                         Inland/Import LOC  CRISIL A4      20      Reaffirmed
Sankalp Construction                    Letter Of GuaranteeCRISIL A3+     12      Reaffirmed
Scoda Tubes Ltd                         BG                 CRISIL A4      7.5     Reaffirmed
Scoda Tubes Ltd                         LOC                CRISIL A4      25      Reaffirmed
Shree Bhandari Plastic Pvt Ltd          BG                 CRISIL A4      15      Reaffirmed
Subhodaya Chemicals Pvt Ltd             LOC                CRISIL A4+     60      Reaffirmed
Superior Industries Ltd                 BG                 CRISIL A4+     60      Reaffirmed
Superior Industries Ltd                 Overdraft          CRISIL A4+     380     Reaffirmed
Suyog Telematics Ltd                    BG                 CRISIL A4+     30      -
Revised from CRISIL A3 to CRISIL D and Simultaneously Upgraded to CRISIL A4+
V.K. Gupta and Associates               BG                 CRISIL A4+     255     Reaffirmed
Vidya Bal Mandli                        Overdraft          CRISIL A4+     145     Reaffirmed
Western Electrotrans Pvt Ltd            BG                 CRISIL A4+     57.5    Reaffirmed

LONG TERM RATINGS:
-------------------
A. K. G. Steel Industries               CC                 CRISIL BB-     45      Reaffirmed
Aarcot Ceramic Pvt Ltd                  BG                 CRISIL D       10      Reaffirmed
Aarcot Ceramic Pvt Ltd                  CC                 CRISIL D       25      Reaffirmed
Aarcot Ceramic Pvt Ltd                  Cash TL            CRISIL D       46      Reaffirmed
Aarcot Ceramic Pvt Ltd                  Proposed LT Bk     CRISIL D       44      Reaffirmed
                                        Loan Fac
Alliaance Biotech                       CC                 CRISIL B+      80      Reaffirmed
Alliaance Biotech                       Standby LOC        CRISIL B+      5       Reaffirmed
Allied Recycling Ltd                    CC                 CRISIL B+      250     Reaffirmed
Allied Recycling Ltd                    TL                 CRISIL B+      80      Reaffirmed
Avivet Nutritional Services Pvt Ltd     LT Loan            CRISIL BB-     123.6   Assigned
Bahubali Motors Pvt Ltd                 CC                 CRISIL B       100     Reaffirmed
Best Milk Products Pvt Ltd              CC                 CRISIL BB      280     Reaffirmed
Best Milk Products Pvt Ltd              Standby Line of    CRISIL BB      20      Reaffirmed
                                        Credit
Bhawna Housing Pvt Ltd                  TL                 CRISIL B       125     Reaffirmed
Dhana Jewel Craft                       CC                 CRISIL B+      35      Assigned
Fortune Integrated Assets Finance Ltd   TL                 CRISIL BBB+    5249    Assigned
Fortune Integrated Assets Finance Ltd   BG                 CRISIL BBB+    1       Assigned
Fortune Integrated Assets Finance Ltd   CC                 CRISIL BBB+    2250    Assigned
Gaba Overseas Pvt Ltd                   CC*                CRISIL BBB     180     Reaffirmed
*Sub limit of non fund based facilities of Rs.6.50 Cr.
Gaba Overseas Pvt Ltd                   Proposed LT Bk     CRISIL BBB     90      Reaffirmed
                                        Loan Fac
Gaba Overseas Pvt Ltd                   TL                 CRISIL BBB     200     Reaffirmed
Gayatri Construction Co.                BG                 Withdrawal     55      Reaffirmed
                                                                                  and Withdrawal
Reaffirmed and Withdrawal
Gayatri Construction Co.                CC                 Withdrawal     25      Reaffirmed
                                                                                  and Withdrawal
GNA Gears Ltd                           CC                 CRISIL BB+     700     Reaffirmed
GNA Gears Ltd                           TL                 CRISIL BB+     545     Reaffirmed
Gokul Ginning and Oil Industries        CC                 CRISIL B+      60      Reaffirmed
Golden Metal Pvt Ltd                    CC                 CRISIL BB+     50      Reaffirmed
Golden Metal Pvt Ltd                    Proposed TL        CRISIL BB+     12.5    Reaffirmed
Goodluck India Ltd                      Bill Discounting   CRISIL BBB     65      Reaffirmed
Goodluck India Ltd                      CC                 CRISIL BBB     2915    Reaffirmed
Goodluck India Ltd                      LT Loan            CRISIL BBB     1493.4  Reaffirmed
Goodluck India Ltd                      Standby LOC        CRISIL BBB     100     Reaffirmed
Infab Infrastructure Pvt Ltd            Secured Overdraft  CRISIL BB-     60      Reaffirmed
                                        Fac
Jammu Pigments Ltd                      CC                 CRISIL B+      120     Reaffirmed
Kargwal Constructions Pvt Ltd           CC                 CRISIL BB+     50      Reaffirmed
Kishanpuria Guwar Gum Industries        CC                 CRISIL B       30      Reaffirmed
Kishanpuria Guwar Gum Industries        Warehouse Receipts CRISIL B       50      Reaffirmed
Kukadi Sahakari Sakhar Karkhana Ltd     Proposed LT Bk     CRISIL D       479.2   Downgraded
                                        Loan Fac                                  from CRISIL B
Kukadi Sahakari Sakhar Karkhana Ltd     TL                 CRISIL D       38      Downgraded
                                                                                  from CRISIL B
Lancosa Ceramic LLP                     LT Loan            CRISIL B+      134.5   Assigned
Lancosa Ceramic LLP                     CC                 CRISIL B+      45      Assigned
Lata Fibres Pvt Limite                  CC                 CRISIL B+      60      Reaffirmed
Lata Fibres Pvt Limite                  TL                 CRISIL B+      34      Assigned
M S Ship Breaking Pvt Ltd               CC                 CRISIL B+      80      Reaffirmed
M/s. Shantilal B. Patel                 LT Loan            CRISIL BBB     21      Reaffirmed
M/s. Shantilal B. Patel                 Secured Overdraft  CRISIL BBB     160     Reaffirmed
                                        against term
                                        deposits
Maco Pvt Ltd                            CC                 CRISIL BB-     60      Reaffirmed
Maco Pvt Ltd                            Foreign Bill       CRISIL BB-     10      Reaffirmed
                                        Discounting
Mahak Synthetics Mills Pvt Ltd          CC                 CRISIL BBB-    240     Upgraded from
                                                                                  CRISIL BB
Mahak Synthetics Mills Pvt Ltd          TL                 CRISIL BBB-    107.5   Upgraded from
                                                                                  CRISIL BB
Maharashtra Natural Gas Ltd             CC                 CRISIL A       40      Reaffirmed
Maharashtra Natural Gas Ltd             TL                 CRISIL A       3800    Reaffirmed
Matrix Technologies Inc.                Cash TL            CRISIL BB-     10      Reaffirmed
Matrix Technologies Inc.                Line of Credit     CRISIL BB-     90      Reaffirmed
Meridian Corporation                    CC                 CRISIL BB-     65      Reaffirmed
Meridian Corporation                    Proposed LT Bk     CRISIL BB-     10      Reaffirmed
                                        Loan Fac
Meridian Corporation                    Standby Line of    CRISIL BB-     5       Reaffirmed
                                        Credit
Meridian Corporation                    TL                 CRISIL BB-     10      Reaffirmed
Mittal Pigments Pvt Ltd                 CC                 CRISIL B+      100     Reaffirmed
Mittal Pigments Pvt Ltd                 TL                 CRISIL B+      50      Reaffirmed
Mosaram Shivramdas                      CC                 CRISIL B+      60      Reaffirmed
Navya Foods Pvt Ltd                     CC                 CRISIL BB-     30      Reaffirmed
Navya Foods Pvt Ltd                     Proposed LT Bk     CRISIL BB-     8       Reaffirmed
                                        Loan Fac
Navya Foods Pvt Ltd                     TL                 CRISIL BB-     92      Reaffirmed
Nestle India Ltd                        WC Fac             CRISIL AAA     3900    Reaffirmed
Nestle India Ltd                        Proposed LT Bk     CRISIL AAA     37.5    Reaffirmed
                                        Loan Fac*
*Fully interchangeable with non-fund based facilities
Nestle India Ltd                        Overdraft          CRISIL AAA     250     Reaffirmed
Nestle India Ltd                        LT Debt            CRISIL AAA     10650   Reaffirmed
New India Infra Buildtech Ltd           CC                 CRISIL BB-     17.5    Reaffirmed
NKS Construction And Engineers Pvt Ltd  CC                 CRISIL BB-     50      -
Migrated from CRISIL A4 Issuer Not Cooperating
Om Sai construction                     Proposed LT Bk     CRISIL B       420     Reaffirmed
                                        Loan Fac
Omkamal Steel Pvt Ltd                   CC                 CRISIL B+      39      Reaffirmed
Omkamal Steel Pvt Ltd                   Proposed LT Bk     CRISIL B+      16      Reaffirmed
                                        Loan Fac
Omkamal Steel Pvt Ltd                   TL                 CRISIL B+      10      Reaffirmed
Pathania Education Society              LT Loan            CRISIL B+      73.3    Reaffirmed
Pee Gee Fabrics Pvt Ltd                 CC                 CRISIL BB      65      Reaffirmed
Pee Gee Fabrics Pvt Ltd                 Proposed LT Bk     CRISIL BB      3       Reaffirmed
                                        Loan Fac
Pee Gee Fabrics Pvt Ltd                 TL                 CRISIL BB      29.1    Reaffirmed
Polaris Liquor Pvt Ltd                  CC                 CRISIL BBB-    325     Reaffirmed
Polaris Liquor Pvt Ltd                  Proposed CC Limit  CRISIL BBB-    80      Assigned
Powercon Cement Ltd                     CC                 CRISIL B+      45      Reaffirmed
Powercon Cement Ltd                     TL                 CRISIL B+      72.5    Reaffirmed
Prabhat Cables Pvt Ltd                  CC                 CRISIL B+      200     Reaffirmed
Pradeep Metals Ltd                      CC                 CRISIL BB+     155     Reaffirmed
Pradeep Metals Ltd                      LT Loan            CRISIL BB+     338.6   Reaffirmed
Pradeep Metals Ltd                      Proposed LT Bk     CRISIL BB+     1.1     Reaffirmed
                                        Loan Fac
Prem Industries (Ahmedabad)             CC                 CRISIL BB      90      Reaffirmed
Prem Industries (Ahmedabad)             TL                 CRISIL BB      16      Reaffirmed
Reliance Industries Ltd                 FB Fac*            CRISIL AAA     499650  Reaffirmed
* Fully interchangeable between bank guarantee, letter of credit, export packing credit, and
post-shipment credit
Reliance Industries Ltd                 Proposed LT Bk     CRISIL AAA     150000  Reaffirmed
                                        Loan Fac
Reliance Industries Ltd                 Rupee TL           CRISIL AAA     350     Reaffirmed
Reliance Industries Ltd                 NCD                CRISIL AAA     100000  Reaffirmed
Reliance Industries Ltd                 NCD                CRISIL AAA     100000  Reaffirmed
Reliance Industries Ltd                 NCDs               CRISIL AAA     100080  Reaffirmed
Reliance Jio Infocomm Ltd               NCD                CRISIL AAA     30000   Reaffirmed
Reliance Jio Infocomm Ltd               NCD                CRISIL AAA     50000   Reaffirmed
Reliance Jio Infocomm Ltd               NCD                CRISIL AAA     50000   Reaffirmed
Reliance Jio Infocomm Ltd               NCD                CRISIL AAA     100000  Reaffirmed
Reliance Jio Infocomm Ltd               NCD                CRISIL AAA     20000   Reaffirmed
Rhine Solar Ltd                         CC                 CRISIL B       25      Reaffirmed
Rhine Solar Ltd                         TL                 CRISIL B       27      Reaffirmed
Salia Polymers Pvt Ltd                  CC                 CRISIL B-      45      Reaffirmed
Salia Polymers Pvt Ltd                  LT Loan            CRISIL B-      25      Reaffirmed
Sankalp Construction                    Secured Overdraft  CRISIL BBB     60      Reaffirmed
                                        against term
                                        deposits
SBT Textiles Pvt Ltd                    CC                 CRISIL BB-     50      Reaffirmed
SBT Textiles Pvt Ltd                    Proposed TL        CRISIL BB-     1.1     Reaffirmed
SBT Textiles Pvt Ltd                    TL                 CRISIL BB-     7.9     Reaffirmed
Scoda Tubes Ltd                         CC                 CRISIL B-      92.5    Reaffirmed
Scoda Tubes Ltd                         Proposed LT Bk     CRISIL B-      11.7    Reaffirmed
                                        Loan Fac
Scoda Tubes Ltd                         TL                 CRISIL B-      11.5    Reaffirmed
Shiv Ganga Hybrid Seeds Pvt Ltd         CC                 CRISIL BB-     130     Reaffirmed
Shree Balaji Pigments Pvt Ltd           CC                 CRISIL D       207.5   Reaffirmed
Shree Balaji Pigments Pvt Ltd           TL                 CRISIL D       32.5    Reaffirmed
Shree Bhandari Plastic Pvt Ltd          CC                 CRISIL B-      32.5    Reaffirmed
Shree Bhandari Plastic Pvt Ltd          TL                 CRISIL B-      20      Reaffirmed
Shree Bhandari Plastic Pvt Ltd          WC TL              CRISIL B-      12.5    Reaffirmed
Shri Ganga Vehicles Pvt Ltd             CC                 CRISIL B+      79.5    Reaffirmed
SJP Infracon Ltd                        TL                 Withdrawal     250     Withdrawal
Migrated from CRISIL D, Issuer Not Cooperating
Sri Raghuramachandra Rice Industries    CC                 CRISIL B+      43      Reaffirmed
Sri Raghuramachandra Rice Industries    LT Loan            CRISIL B+      11      Reaffirmed
Subhodaya Chemicals Pvt Ltd             CC                 CRISIL BB-     20      Reaffirmed
Superior Industries Ltd                 TL                 CRISIL BB      110     Reaffirmed
Suyog Telematics Ltd                    TL                 CRISIL BB+     870     -
Revised from CRISIL BBB-/Stable to CRISIL D and Simultaneously Upgraded to CRISIL BB+
Tata Motors Finance Ltd                 Series A PTCs      CRISIL AAA     7472.4  Reaffirmed
Tata Motors Finance Ltd                 Second Loss Fac    CRISIL BBB+    463.5&  Reaffirmed
& Pre-reset amount - 48.65 cr
Udaipur Beverages Ltd                   CC                 CRISIL BBB     150     Reaffirmed
Udaipur Beverages Ltd                   TL                 CRISIL BBB     350     Reaffirmed
V.K. Gupta and Associates               CC                 CRISIL BB-     45      Reaffirmed
V.R. Spinning Mills Pvt Ltd             CC                 CRISIL BB-     25      Reaffirmed
V.R. Spinning Mills Pvt Ltd             Corporate Loan     CRISIL BB-     10      Reaffirmed
Vidya Bal Mandli                        LT Loan            CRISIL BB+     75      Reaffirmed
Western Electrotrans Pvt Ltd            CC                 CRISIL BB      30      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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