January 11, 2018 / 3:40 AM / a year ago

CRISIL ratings for Indian debt instruments-Jan 11

    Jan 11 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 10, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Alembic Pharmaceuticals Ltd             CP*                CRISIL A1+     2000    Reaffirmed
*Earlier Short term Debt (Including CP)
Benara Udyog Ltd                        BG                 CRISIL A3      11      Reaffirmed
Benara Udyog Ltd                        Foreign Bill       CRISIL A3      14      Reaffirmed
                                        Purchase
Benara Udyog Ltd                        LOC                CRISIL A3      20      Reaffirmed
Benara Udyog Ltd                        Packing Credit     CRISIL A3      14      Reaffirmed
Bhagwandas Metals and Steel             LOC                CRISIL A4      65      Reaffirmed
CJI Porcelain Pvt Ltd                   BG                 CRISIL A3      15      Reaffirmed
CJI Porcelain Pvt Ltd                   LOC                CRISIL A3      5       Reaffirmed
Crown Corporation Pvt Ltd               BG                 CRISIL A4      91      Assigned
Crown Corporation Pvt Ltd               LOC                CRISIL A4      115     Assigned
Ecko Cables Pvt Ltd                     BG                 CRISIL A4      10      Reaffirmed
Migrated from CRISIL A4 Issuer Not Cooperating
Ecko Cables Pvt Ltd                     LOC                CRISIL A4      40      Reaffirmed
Migrated from CRISIL A4 Issuer Not Cooperating
Glenmark Pharmaceuticals Ltd            BG                 CRISIL A1+     100     Reaffirmed
Glenmark Pharmaceuticals Ltd            LOC                CRISIL A1+     1000    Reaffirmed
Glenmark Pharmaceuticals Ltd            Proposed ST Bk     CRISIL A1+     4500    Reaffirmed
                                        Loan Fac
Glenmark Pharmaceuticals Ltd            ST Loan            CRISIL A1+     7200    Reaffirmed
Goldstone Infratech Ltd                 BG                 CRISIL A3      537.9   Reaffirmed
Continues on Rating Watch with Developing Implications
Goldstone Infratech Ltd                 LOC                CRISIL A3      270     Reaffirmed
Continues on Rating Watch with Developing Implications
Goldstone Infratech Ltd                 LOC*               CRISIL A3      500
Continues on Rating Watch with Developing Implications; *Includes letter of undertaking for
Buyer's Credit of Rs 50 crore, performance bank guarantee of Rs 10
H. R. Polycoats Pvt Ltd                 LOC                CRISIL A3      125
CRISIL A3
H. R. Polycoats Pvt Ltd                 Proposed ST Bk     CRISIL A3      5       Reaffirmed
                                        Loan Fac
CRISIL A3
HMA Agro Industries Ltd                 Proposed Export    CRISIL A3+     300
                                        Packing Credit
Upgraded from CRISIL A3
Jindal Hotels Ltd                       BG                 CRISIL A3      3       Reaffirmed
Navabharat Ltd                          LOC                CRISIL A3+     155     Assigned
Orient Fashion Exports India Pvt Ltd    BG                 CRISIL A2      10      Reaffirmed
Orient Fashion Exports India Pvt Ltd    Foreign Exchange   CRISIL A2      65.5    Reaffirmed
                                        Forward
Orient Fashion Exports India Pvt Ltd    LOC                CRISIL A2      30      Reaffirmed
Orient Fashion Exports India Pvt Ltd    Packing Credit     CRISIL A2      150     Reaffirmed
Orient Fashion Exports India Pvt Ltd    Standby Line of    CRISIL A2      110     Reaffirmed
                                        Credit
PBN Constructions Pvt Ltd               BG                 CRISIL A4      75.2    Reaffirmed
Migrated from CRISIL A4 Issuer Not Cooperating
Piramal Housing Finance Ltd             CP Programme       CRISIL A1+     600     Reaffirmed
(Enhanced from Rs.400 Crore)
PK Global Power Pvt Ltd                 BG                 CRISIL A4      35      Reaffirmed
PK Global Power Pvt Ltd                 Inland/Import LOC  CRISIL A4      15      Reaffirmed
Priti Construction                      BG                 CRISIL A4      150
Downgraded from CRISIL A4+; Removed from Rating Watch with Negative Implications 
Priti Construction                      Proposed ST Bk     CRISIL A4      50
                                        Loan Fac
Downgraded from CRISIL A4+; Removed from Rating Watch with Negative Implications 
RPS Infraprojects Pvt Ltd               BG                 CRISIL A4      2000
Downgraded from CRISIL A4+; Removed from Rating Watch with Negative Implications 
S K Bikes Pvt Ltd                       BG                 CRISIL A3      130     Assigned
Sai Om Petro Specialities Ltd           BG                 CRISIL A4      5       Reaffirmed
Sai Om Petro Specialities Ltd           Letter Of GuaranteeCRISIL A4      37.5    Reaffirmed
Saket Infraprojects Ltd                 BG                 CRISIL A4+     200     Reaffirmed
Removed from Rating Watch with Negative Implications; Rating Reaffirmed
Samvardhana Motherson International Ltd BG                 CRISIL A1+     330     Reaffirmed
Samvardhana Motherson International Ltd CP                 CRISIL A1+     2500    Reaffirmed
Samvardhana Motherson International Ltd BG                 CRISIL A1+     330     Reaffirmed
Shah and Parikh                         BG                 CRISIL A4+     150     Reaffirmed
Removed from Rating Watch with Negative Implications; Rating reaffirmed
Speco Infrastructure                    BG                 CRISIL A4+     170     Reaffirmed
Removed from Rating Watch with Negative Implications; Rating reaffirmed
SSZ Commodities Pvt Ltd                 Import LOC Limit   CRISIL A4      150     Reaffirmed
Migrated from CRISIL A4 Issuer Not Cooperating


LONG TERM RATINGS:
-------------------
Alembic Pharmaceuticals Ltd             CC & WC demand     CRISIL AA+     3500    Reaffirmed
                                        loan**
Reaffirmed ; **100% interchangeable between funded & non funded & Vice versa
Alembic Pharmaceuticals Ltd             TL                 CRISIL AA+     3000    Reaffirmed
AMA Industries Pvt Ltd                  BG                 Withdrawal     35
AMA Industries Pvt Ltd                  CC                 Withdrawal     30
AMA Industries Pvt Ltd                  Proposed LT Bk     Withdrawal     15
                                        Loan Fac
Armaax Auto Pvt Ltd                     CC                 CRISIL D       30
Issuer Not Cooperating; Downgraded from CRISIL B-
Armaax Auto Pvt Ltd                     Proposed LT Bk     CRISIL D       13.6
                                        Loan Fac
Issuer Not Cooperating; Downgraded from CRISIL B-
Armaax Auto Pvt Ltd                     TL                 CRISIL D       18.4
Issuer Not Cooperating; Downgraded from CRISIL B-
Armaax Auto Pvt Ltd                     WC Demand Loan     CRISIL D       41.5
Issuer Not Cooperating; Downgraded from CRISIL B-
Armaax Auto Pvt Ltd                     WC TL              CRISIL D       26.5
Issuer Not Cooperating; Downgraded from CRISIL B-
Avinash Developers Pvt Ltd              CC                 CRISIL BBB-    75      Reaffirmed
Avinash Developers Pvt Ltd              Lease Rental       CRISIL BBB-    710     Reaffirmed
                                        Discounting Loan
Avinash Developers Pvt Ltd              Proposed LT Bk     CRISIL BBB-    138     Reaffirmed
                                        Loan Fac
Avinash Developers Pvt Ltd              TL                 CRISIL BBB-    677     Reaffirmed
Benara Udyog Ltd                        CC                 CRISIL BBB-    40      Reaffirmed
Outlook revised from Stable and rating reaffirmed
Benara Udyog Ltd                        Overdraft          CRISIL BBB-    50      Reaffirmed
Outlook revised from Stable and rating reaffirmed
Benara Udyog Ltd                        Proposed LT Bk     CRISIL BBB-    10.3    Reaffirmed
                                        Loan Fac
Outlook revised from Stable and rating reaffirmed
Benara Udyog Ltd                        TL                 CRISIL BBB-    40.7    Reaffirmed
Outlook revised from Stable and rating reaffirmed
Bhagwandas Metals and Steel             CC                 CRISIL B+      30      Reaffirmed
Bijulee Tea Pvt Ltd                     CC                 CRISIL BB-     49
Downgraded from CRISIL BB
Bijulee Tea Pvt Ltd                     LT Bk Fac          CRISIL BB-     6
Downgraded from CRISIL BB
CJI Porcelain Pvt Ltd                   CC                 CRISIL BBB-    160     Reaffirmed
Outlook revised from Stable and rating reaffirmed
CJI Porcelain Pvt Ltd                   TL                 CRISIL BBB-    40      Reaffirmed
Outlook revised from Stable and rating reaffirmed
Crown Corporation Pvt Ltd               Proposed Overdraft CRISIL B       34      Assigned
                                        Fac
Devanshi Powers Ltd                     CC                 CRISIL BB-     140     Reaffirmed
Devanshi Powers Ltd                     Proposed LT Bk     CRISIL BB-     20      Assigned
                                        Loan Fac
Ecko Cables Pvt Ltd                     CC                 CRISIL B-      30      Reaffirmed
Migrated from CRISIL B-Issuer Not Cooperating
Ecko Cables Pvt Ltd                     Proposed CC Limit  CRISIL B-      50      Assigned
Migrated from CRISIL B-Issuer Not Cooperating
Essel Mining and Industries Ltd         NCD                CRISIL AA-     7200    Reaffirmed
Essel Mining and Industries Ltd         CC*                CRISIL AA-     4900    Reaffirmed
*Fully interchangeable with packing credit/post-shipment discounting/bank guarantee/letter of
credit and any other non-fund-based bank facility
Essel Mining and Industries Ltd         Foreign Currency TLCRISIL AA-     1850    Reaffirmed
Essel Mining and Industries Ltd         Proposed CC Limit  CRISIL AA-     3050    Reaffirmed
Essel Mining and Industries Ltd         Proposed Foreign   CRISIL AA-     100     Reaffirmed
                                        Currency TL
Essel Mining and Industries Ltd         TL                 CRISIL AA-     12100   Reaffirmed
Essel Mining and Industries Ltd         NCD                CRISIL AA-     7200    Reaffirmed
Glenmark Pharmaceuticals Ltd            CC                 CRISIL AA-     3250    Reaffirmed
Glenmark Pharmaceuticals Ltd            LT Loan            CRISIL AA-     1000    Reaffirmed
Glenmark Pharmaceuticals Ltd            WC Demand Loan     CRISIL AA-     1450    Reaffirmed
Goldstone Infratech Ltd                 CC                 CRISIL BBB-    480     Reaffirmed
Continues on Rating Watch with Developing Implications 
Goldstone Infratech Ltd                 Standby Line of    CRISIL BBB-    20
                                        Credit
Continues on Rating Watch with Developing Implications 
H. R. Polycoats Pvt Ltd                 CC                 CRISIL BBB-    275     Reaffirmed
CRISIL BBB-
H. R. Polycoats Pvt Ltd                 TL                 CRISIL BBB-    195     Reaffirmed
CRISIL BBB-
HMA Agro Industries Ltd                 Export Packing     CRISIL BBB     1200
                                        Credit
Upgraded from CRISIL BBB-
J. M. D. Industries                     Proposed LT Bk     CRISIL D       15
                                        Loan Fac
Downgraded from CRISIL B
J. M. D. Industries                     TL                 CRISIL D       80
Downgraded from CRISIL B
J. M. D. Industries                     WC Fac             CRISIL D       20
Downgraded from CRISIL B
Jasamrat Cotgin Pvt Ltd                 CC                 CRISIL B       70      Reaffirmed
Migrated from CRISIL BIssuer Not Cooperating
Jasamrat Cotgin Pvt Ltd                 TL                 CRISIL B       34.5    Reaffirmed
Migrated from CRISIL BIssuer Not Cooperating
Jawaharlal Nehru Port Trust             Corporate Credit   CCR AAA                Reaffirmed
                                        Rating
Jawaharlal Nehru Port Trust             Corporate Credit   CCR AAA                Reaffirmed
                                        Rating 
Jawaharlal Nehru Port Trust             TFB*               CRISIL AAA     20000   Reaffirmed
* Non-convertible tax-free bond
Jawaharlal Nehru Port Trust             External           CRISIL AAA     26800   Reaffirmed
                                        Commercial
                                        Borrowings*
*Equivalent to USD 400 million. 1 USD=INR 67.
Jawaharlal Nehru Port Trust             TFB*               CRISIL AAA     20000   Reaffirmed
Jay Jinendra Realators Pvt Ltd          TL                 Withdrawal     135
Jindal Hotels Ltd                       CC/ Overdraft Fac  CRISIL BBB-    80      Reaffirmed
Jindal Hotels Ltd                       TL                 CRISIL BBB-    417     Reaffirmed
Kailas Cashew Exports                   CC                 Withdrawal     10
Rating reaffirmed and Withdrawal
Kailas Cashew Exports                   Packing Credit     Withdrawal     340
Rating reaffirmed and Withdrawal
M.P.Entertainment And Developers Pvt LtdLease Rental       CRISIL BBB-    600     Assigned
                                        Discounting Loan
Madhar Nala Thondu Niruvanam - MNTN     Proposed LT Bk     CRISIL B       50      Assigned
                                        Loan Fac
Maharashtra Engineering                 CC                 CRISIL D       45
Issuer Not Cooperating; Downgraded from CRISIL B-
Maharashtra Engineering                 TL                 CRISIL D       28
Issuer Not Cooperating; Downgraded from CRISIL B-
Maharashtra Engineering                 WC Demand Loan     CRISIL D       57
Issuer Not Cooperating; Downgraded from CRISIL B-
Navabharat Ltd                          CC                 CRISIL BBB     265     Reaffirmed
Navabharat Ltd                          Drop Line          CRISIL BBB     75      Reaffirmed
                                        Overdraft Fac
Navabharat Ltd                          Proposed LT Bk     CRISIL BBB     210     Assigned
                                        Loan Fac
Navabharat Ltd                          LT Loan            CRISIL BBB     495     Assigned
Orient Fashion Exports India Pvt Ltd    Export Packing     CRISIL BBB+    550
                                        Credit
Reassigned
PBN Constructions Pvt Ltd               CC                 CRISIL B+      30      Reaffirmed
Migrated from CRISIL B+Issuer Not Cooperating
PBN Constructions Pvt Ltd               Proposed CC Limit  CRISIL B+      4.8     Reaffirmed
Migrated from CRISIL B+Issuer Not Cooperating
PK Global Power Pvt Ltd                 CC                 CRISIL B+      27      Reaffirmed
PK Global Power Pvt Ltd                 TL                 CRISIL B+      3       Reaffirmed
RPS Infraprojects Pvt Ltd               CC                 CRISIL BB-     200
Downgraded from CRISIL BB+; Removed from Rating Watch with Negative Implications 
S K Bikes Pvt Ltd                       LT Loan            CRISIL BBB-    20      Assigned
S K Bikes Pvt Ltd                       Foreign LOC        CRISIL BBB-    50      Assigned
S K Bikes Pvt Ltd                       CC                 CRISIL BBB-    170     Assigned
S K Bikes Pvt Ltd                       Bill Discounting   CRISIL BBB-    150     Assigned
Sai Om Petro Specialities Ltd           CC                 CRISIL B       27.5    Reaffirmed
Sai Srinivasa Ginning Mill              CC                 CRISIL BB-     87.5    Reaffirmed
Sai Srinivasa Ginning Mill              Proposed LT Bk     CRISIL BB-     2.5     Reaffirmed
                                        Loan Fac
Saket Infraprojects Ltd                 CC                 CRISIL BB      200
Removed from Rating Watch with Negative Implications; Downgraded from CRISIL BB+
Samvardhana Motherson International Ltd NCD                CRISIL AA-     1000    Reaffirmed
Shah and Parikh                         Overdraft          CRISIL BB      50      Reaffirmed
Removed from Rating Watch with Negative Implications; Rating reaffirmed
Shri Navalai Enterprises                CC                 CRISIL B       3.5     Reaffirmed
Shri Navalai Enterprises                Proposed FB Bk     CRISIL B       56.5    Reaffirmed
                                        Limits
Speco Infrastructure                    CC                 CRISIL BB      30      Reaffirmed
Removed from Rating Watch with Negative Implications; Rating reaffirmed
SSZ Commodities Pvt Ltd                 Import LOC Limit*  CRISIL B+      300     Reaffirmed
Migrated from CRISIL B+Issuer Not Cooperating; *Includes sublimit for cash credit of Rs.10 crore
Terna Public Charitable Trust           CC                 CRISIL BBB-    125     Reaffirmed
Terna Public Charitable Trust           TL                 CRISIL BBB-    350     Assigned
Terna Public Charitable Trust           Proposed TL        CRISIL BBB-    480     Assigned
Terna Public Charitable Trust           Proposed LT Bk     CRISIL BBB-    45      Assigned
                                        Loan Fac

--------------------------------------------------------------------------------------------
$: 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