January 10, 2020 / 6:07 AM / a month 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, 2020.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Alishan Veneer and Plywood Pvt Ltd      BG                 CRISIL A4+     5       Assigned
Alishan Veneer and Plywood Pvt Ltd      Proposed LOC       CRISIL A4+     30      Assigned
Allweld Engineers Pvt Ltd               BG                 CRISIL A4      10      Withdrawn
Chennai Petroleum Corporation Ltd       LOC & BG           CRISIL A1+     1840    Reaffirmed
Chennai Petroleum Corporation Ltd       Proposed ST Bk     CRISIL A1+     8739    Reaffirmed
                                        Loan Fac
Chennai Petroleum Corporation Ltd       CP                 CRISIL A1+     60000   Reaffirmed
CNH Industrial Capital (India) Pvt Ltd  CP Programme       CRISIL A1+     2100    Assigned
Dynasty Promoters Pvt Ltd               BG                 CRISIL A4+     170     Reaffirmed
Eon Electric Ltd                        LOC & BG           CRISIL D       350     Downgraded
                                                                                  from CRISIL A4
(Issuer Not Cooperating)
Eon Electric Ltd                        Proposed ST Bk     CRISIL D       150     Downgraded
                                        Loan Fac                                  from CRISIL A4
(Issuer Not Cooperating)
KN Resources Pvt Ltd                    BG                 CRISIL A3+     10      Withdrawn
(Migrated from 'CRISIL A4+  ISSUER NOT COOPERATING')
KN Resources Pvt Ltd                    LOC                CRISIL A3+     180     Withdrawn
(Migrated from 'CRISIL A4+  ISSUER NOT COOPERATING')
KN Resources Pvt Ltd                    Proposed FB Bk     CRISIL A3+     20      Withdrawn
                                        Limits
(Migrated from 'CRISIL A4+  ISSUER NOT COOPERATING')
KN Resources Pvt Ltd                    CC                 CRISIL A3+     1700    Withdrawn
(Migrated from 'CRISIL A4+  ISSUER NOT COOPERATING')
NG Projects Ltd                         BG                 CRISIL A2      1700    Reaffirmed
Mahalaxmi Investment and Trading Pvt LtdBG                 CRISIL D       80      Downgraded
                                                                                  from CRISIL A4
Mahalaxmi Investment and Trading Pvt LtdLOC                CRISIL D       80      Downgraded
                                                                                  from CRISIL A4
Mahalaxmi Investment and Trading Pvt LtdOverdraft          CRISIL D       20      Downgraded
                                                                                  from CRISIL A4
Rawat Associates                        BG                 CRISIL A4      50      Assigned
Rawat Associates                        Overdraft          CRISIL A4      24.3    Assigned


LONG TERM RATINGS:
-------------------
Alishan Veneer and Plywood Pvt Ltd      CC                 CRISIL         100     Reaffirmed
                                                           BB-/Stable
(Migrated from 'CRISIL BB-/Stable ISSUER NOT COOPERATING')
Alishan Veneer and Plywood Pvt Ltd      Foreign LOC        CRISIL         230     Reaffirmed
                                                           BB-/Stable
(Migrated from 'CRISIL BB-/Stable ISSUER NOT COOPERATING')
Alishan Veneer and Plywood Pvt Ltd      Proposed LT Bk     CRISIL         134.5   Reaffirmed
                                        Loan Fac           BB-/Stable
(Migrated from 'CRISIL BB-/Stable ISSUER NOT COOPERATING')
Allweld Engineers Pvt Ltd               CC                 CRISIL         45      Withdrawn
                                                           B-/Stable
Allweld Engineers Pvt Ltd               Proposed LT Bk     CRISIL         35.9    Withdrawn
                                        Loan Fac           B-/Stable
B. K. Garg Ispat Pvt Ltd                CC                 CRISIL         66      Assigned
                                                           B+/Stable
Balaji Oil Industries                   CC                 CRISIL B/Stable47.5    Reaffirmed
Balaji Oil Industries                   Proposed FB Bk     CRISIL         12.5    Reaffirmed
                                        Limits             B/Stable
Chennai Petroleum Corporation Ltd       CC                 CRISIL         25000   Reaffirmed
                                                           AAA/Stable
Chennai Petroleum Corporation Ltd       Packing Credit*    CRISIL         15000   Reaffirmed
                                                           AAA/Stable
*One-way interchangeability with cash credit
Chennai Petroleum Corporation Ltd       Proposed LT Bk     CRISIL         2450    Reaffirmed
                                        Loan Fac           AAA/Stable
Chennai Petroleum Corporation Ltd       NCD                CRISIL         15000   Reaffirmed
                                                           AAA/Stable
Cholamandalam Investment and Finance    Series A PTCs      Provisional    3401.5  Assigned
Co. Ltd - Platinum Trust December 2019                     CRISIL AAA (SO)
Cholamandalam Investment and Finance    Second Loss Fac    Provisional    212.1   Assigned
Co. Ltd - Platinum Trust December 2019                     CRISIL BBB
                                                           (SO) Equivalent
Cosmo Electro Industries Pvt Ltd        Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
DLP Cotton                              CC                 CRISIL         80      Assigned
                                                           B+/Stable
DLP Cotton                              TL                 CRISIL         20      Assigned
                                                           B+/Stable
Dynasty Promoters Pvt Ltd               CC                 CRISIL         85      Reaffirmed
                                                           BB-/Stable
Egwood Industries Pvt Ltd               Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Eon Electric Ltd                        CC                 CRISIL D       400     Downgraded
                                                                                  from CRISIL C
(Issuer Not Cooperating)
Eon Electric Ltd                        Proposed LT Bk     CRISIL D       100     Downgraded
                                        Loan Fac                                  from CRISIL C
(Issuer Not Cooperating)
HS Akash Agro India Pvt Ltd             CC                 CRISIL         900     Reaffirmed
                                                           BB+/Stable
ICL Fincorp Ltd                         Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Mahalaxmi Investment and Trading Pvt LtdCC                 CRISIL D       80      Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
NG Projects Ltd                         CC^                CRISIL         10      Reaffirmed
                                                           BBB+/Stable
^Fully interchangeability with bank guarantee
NG Projects Ltd                         CC                 CRISIL         290     Reaffirmed
                                                           BBB+/Stable
Rawat Associates                        Proposed LT Bk     CRISIL         225.7   Downgraded
                                        Loan Fac           B-/Stable              from CRISIL
                                                                                  B+/Stable
Roop Ram Industries Pvt Ltd             Proposed LT Bk     CRISIL         20      Upgraded from
                                        Loan Fac           B-/Stable              CRISIL D
Roop Ram Industries Pvt Ltd             LT Loan            CRISIL         280     Upgraded from
                                                           B-/Stable              CRISIL D
Srinivasa Fashions Pvt Ltd              CC                 CRISIL         700     Reaffirmed
                                                           BB-/Stable
Srinivasa Fashions Pvt Ltd              Proposed LT Bk     CRISIL         60      Reaffirmed
                                        Loan Fac           BB-/Stable
Syndicate Wiper Systems Pvt Ltd         Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Tata Motors Finance Ltd                 Acquirer payouts   CRISIL A (SO)  4599.1  Assigned
                                                           Equivalent
Ultra Ready Mix Concrete Pvt Ltd        CC                 CRISIL D       250     Withdrawn
(Issuer Not Cooperating)
Ultra Ready Mix Concrete Pvt Ltd        LT Loan            CRISIL D       196.8   Withdrawn
(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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