January 16, 2018 / 6:49 AM / a month ago

CRISIL ratings for Indian debt instruments-Jan 16

    Jan 16 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 15, 2018.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Avon Tubetech Pvt Ltd                   BG                 CRISIL A4      10      Upgraded from
                                                                                  CRISIL D
Cedar Decor Pvt Ltd                     LOC                CRISIL A3+     28.8    Reaffirmed
Durian Industries Ltd                   LOC                CRISIL A3+     200     Reaffirmed
Hillstone Granites Pvt Ltd              Bill Discounting   CRISIL A4+     20      Reaffirmed
Hillstone Granites Pvt Ltd              Packing Credit     CRISIL A4+     35      Reaffirmed
Kasa Anlagen India Pvt Ltd              BG                 CRISIL A4      45      Reaffirmed
Kasa Anlagen India Pvt Ltd              Bill Discounting   CRISIL A4      10      Reaffirmed
                                        under LOC
Kay Kay Trading Co.                     BG                 CRISIL A4+     50      Reaffirmed
Maple Mouldings Pvt Ltd                 LOC                CRISIL A3+     50      Reaffirmed
Palghar Plywood Product Pvt Ltd         LOC                CRISIL A3+     40      Reaffirmed
Pavithran Aseptic Fruit Products        LOC                CRISIL A4+     25.5    Reaffirmed
Pragati Marine Services Pvt Ltd         BG                 CRISIL A4      10      -
Issuer Not Cooperating
Raja Motors (Sirsa)                     Overdraft          CRISIL A4      20      Reassigned
Reydel Automotive India Pvt Ltd         LOC & BG           CRISIL A2      20      Reaffirmed
Rishiroop Ltd                           Non Convertible    CRISIL A3+     115.2   Withdrawal
                                        Redeemable PS
Techno Tarp and Polymers Pvt Ltd        Export Bill        CRISIL A4+     40      Migrated from
                                        Purchase                                  CRISIL A3
                                        -Discounting
Issuer Not Cooperating
Techno Tarp and Polymers Pvt Ltd        Packing Credit in  CRISIL A4+     80      Migrated from
                                        Foreign Currency                          CRISIL A3
Issuer Not Cooperating
Technomark Engineers India Pvt Ltd      BG                 CRISIL A4      20      Reaffirmed
Technomark Engineers India Pvt Ltd      Overdraft          CRISIL A4      20      Reaffirmed
V-Star Creations Pvt Ltd                BG                 CRISIL A3+     0.5     Assigned


LONG TERM RATINGS:
-------------------
Amudha Aseptic Food Products            CC                 CRISIL BB      40      Migrated from
                                                                                  CRISIL BB
Issuer Not Cooperating
Amudha Aseptic Food Products            LT Loan            CRISIL BB      60      Migrated from
                                                                                  CRISIL BB
Issuer Not Cooperating
AP Refinery Pvt Ltd                     CC                 CRISIL BBB+    937     Assigned
AP Refinery Pvt Ltd                     LT Loan            CRISIL BBB+    63      Assigned
ARM Overseas Pvt Ltd                    CC                 CRISIL B       250     Reaffirmed
ARM Overseas Pvt Ltd                    Pledge Loan        CRISIL B       27.5    Reaffirmed
ARM Overseas Pvt Ltd                    Standby Line of    CRISIL B       10      Reaffirmed
                                        Credit
Avi Agri Business Pvt Ltd               Export Packing     CRISIL BBB-    2000    Reaffirmed
                                        Credit
Avi Agri Business Pvt Ltd               LT Loan            CRISIL BBB-    270     Reaffirmed
Avon Tubetech Pvt Ltd                   Bill Discounting   CRISIL B       20      Upgraded from
                                                                                  CRISIL D
Avon Tubetech Pvt Ltd                   Buyer`s Credit     CRISIL B       215     Upgraded from
                                                                                  CRISIL D
Avon Tubetech Pvt Ltd                   Overdraft          CRISIL B       195     Upgraded from
                                                                                  CRISIL D
Avon Tubetech Pvt Ltd                   TL                 CRISIL B       295     Upgraded from
                                                                                  CRISIL D
Avon Tubetech Pvt Ltd                   WC Demand Loan     CRISIL B       15      Upgraded from
                                                                                  CRISIL D
Cedar Decor Pvt Ltd                     CC                 CRISIL BBB     240     Reaffirmed
Cedar Decor Pvt Ltd                     Proposed LT Bk     CRISIL BBB     93.1    Reaffirmed
                                        Loan Fac
Cedar Decor Pvt Ltd                     Standby Line of    CRISIL BBB     20      Reaffirmed
                                        Credit
Durian Industries Ltd                   CC                 CRISIL BBB     370     Reaffirmed
Durian Industries Ltd                   LT Loan            CRISIL BBB     11.3    Reaffirmed
Durian Industries Ltd                   Proposed LT Bk     CRISIL BBB     122.3   Reaffirmed
                                        Loan Fac
Durian Industries Ltd                   Standby Line of    CRISIL BBB     40      Reaffirmed
                                        Credit
Estocorp India Pvt Ltd                  Export Packing     CRISIL BB-     60      Downgraded
                                        Credit                                    from CRISIL BB
Estocorp India Pvt Ltd                  Proposed LT Bk     CRISIL BB-     25      Downgraded
                                        Loan Fac                                  from CRISIL BB
Fastway Transmissions Pvt Ltd           CC                 CRISIL BBB     30      Migrated from
                                                                                  CRISIL BB+
Issuer Not Cooperating
Fastway Transmissions Pvt Ltd           Proposed LT Bk     CRISIL BBB     320     Migrated from
                                        Loan Fac                                  CRISIL BB+
Issuer Not Cooperating
Fastway Transmissions Pvt Ltd           TL                 CRISIL BBB     1250    Migrated from
                                                                                  CRISIL BB+
Issuer Not Cooperating
Ferro Steel Solutions                   CC                 CRISIL BB      125     Upgraded from
                                                                                  CRISIL BB-
Ferro Steel Solutions                   Channel Financing  CRISIL BB      150     Upgraded from
                                                                                  CRISIL BB-
Ferro Steel Solutions                   Inventory Funding  CRISIL BB      150     Upgraded from
                                        Fac                                       CRISIL BB-
Future Vision Corporation               CC                 Withdrawal     50      -
Issuer Not Cooperating
Future Vision Corporation               Proposed LT Bk     Withdrawal     10      -
                                        Loan Fac
Issuer Not Cooperating
Gajraj Automobiles Pvt Ltd              CC                 CRISIL BB      40      Reaffirmed
Gajraj Automobiles Pvt Ltd              Inventory Funding  CRISIL BB      120     Reaffirmed
                                        Fac
Golden International Pvt Ltd            CC                 Withdrawal     65      -
Reaffirmed and Withdrawal
Hillstone Granites Pvt Ltd              TL                 CRISIL BB-     15      Reaffirmed
K.S. Enterprises Pvt Ltd                CC*                CRISIL B+      250     Reaffirmed
*Including sub limit of Foreign Currency Term Loan (FCTL) of Rs.17 Crore
Kasa Anlagen India Pvt Ltd              CC                 CRISIL B+      25      Reaffirmed
Kasa Anlagen India Pvt Ltd              Proposed LT Bk     CRISIL B+      10      Reaffirmed
                                        Loan Fac
Kay Kay Trading Co.                     CC                 CRISIL BB-     70      Reaffirmed
Kay Kay Trading Co.                     Proposed LT Bk     CRISIL BB-     80      Reaffirmed
                                        Loan Fac
Maple Mouldings Pvt Ltd                 CC                 CRISIL BBB     60      Reaffirmed
Maple Mouldings Pvt Ltd                 Proposed LT Bk     CRISIL BBB     12.1    Reaffirmed
                                        Loan Fac
Maple Mouldings Pvt Ltd                 Standby Line of    CRISIL BBB     10      Reaffirmed
                                        Credit
Muthoot Homefin India Ltd               Proposed LT Bk     CRISIL AA-     8000    Reaffirmed
                                        Loan Fac
Muthoot Homefin India Ltd               TL                 CRISIL AA-     1000    Assigned
Nataraj Mobiles Pvt Ltd                 CC                 Withdrawal     120     -
Issuer Not Cooperatin
Palghar Plywood Product Pvt Ltd         CC                 CRISIL BBB     40.2    Reaffirmed
Pavithran Aseptic Fruit Products        CC                 CRISIL BB      40      Reaffirmed
Pavithran Aseptic Fruit Products        Proposed LT Bk     CRISIL BB      34.5    Reaffirmed
                                        Loan Fac
Poysha Packaging Pvt Ltd                CC                 Withdrawal     80      -
Issuer Not Cooperating
Poysha Packaging Pvt Ltd                LOC                Withdrawal     20      -
Issuer Not Cooperating
Pragati Marine Services Pvt Ltd         CC                 CRISIL C       35      Migrated from
                                                                                  CRISIL B
Issuer Not Cooperating
Pragati Marine Services Pvt Ltd         Proposed LT Bk     CRISIL C       8.2     Migrated from
                                        Loan Fac                                  CRISIL B
Issuer Not Cooperating
Pragati Marine Services Pvt Ltd         TL                 CRISIL C       16.8    Migrated from
                                                                                  CRISIL B
Issuer Not Cooperating
Raja Motors (Sirsa)                     CC                 CRISIL B+      55      Reaffirmed
Raja Motors (Sirsa)                     Proposed Rupee TL  CRISIL B+      2.5     Reaffirmed
Rajib Cashew Processing Pvt Ltd         CC                 CRISIL BB-     109     Reaffirmed
Reydel Automotive India Pvt Ltd         CC & WC demand loanCRISIL BBB+    170     Reaffirmed
Reydel Automotive India Pvt Ltd         Rupee TL           CRISIL BBB+    380     Reaffirmed
Sachin Finecot Fibers                   CC                 CRISIL B+      77.5    Reaffirmed
Sachin Finecot Fibers                   Proposed LT Bk     CRISIL B+      0.8     Reaffirmed
                                        Loan Fac
Sachin Finecot Fibers                   TL                 CRISIL B+      21.1    Reaffirmed
Sansar Trust December 2017 IV           Series A PTCs      Provisional    4089.7  Assigned
                                                           CRISIL AAA (SO)
Sansar Trust December 2017 IV           Second loss Fac    Provisional    210.1   Assigned
                                                           CRISIL BBB+
Shivam Autotech Ltd                     Rupee TL           CRISIL BBB+    1384.2  Reaffirmed
Outlook revised from 'Negative
Soh Med Care Pvt Ltd                    Proposed LT Bk     CRISIL BB      7       Assigned
                                        Loan Fac
Soh Med Care Pvt Ltd                    CC                 CRISIL BB      33      Assigned
Soh Med Care Pvt Ltd                    LT Loan            CRISIL BB      30      Assigned
Super Smelters Ltd                      CC                 Withdrawal     3250    Withdrawal
Super Smelters Ltd                      LOC                Withdrawal     1500    Withdrawal
Super Smelters Ltd                      Proposed LT Bk     Withdrawal     853     Withdrawal
                                        Loan Fac
Super Smelters Ltd                      TL                 Withdrawal     4797    Withdrawal
Techno Tarp and Polymers Pvt Ltd        CC                 CRISIL BB      7.5     Migrated from
                                                                                  CRISIL BBB-
Issuer Not Cooperating
Technomark Engineers India Pvt Ltd      Overdraft          CRISIL B       90      Reaffirmed
V-Star Creations Pvt Ltd                TL                 CRISIL BBB     45      Assigned
V-Star Creations Pvt Ltd                Proposed TL        CRISIL BBB     29.5    Assigned
V-Star Creations Pvt Ltd                Packing Credit     CRISIL BBB     11      Assigned
                                        (pre-shipment
                                        credit)
V-Star Creations Pvt Ltd                CC                 CRISIL BBB     190     Assigned
Zycus Infotech Pvt Ltd                  CC/ Overdraft Fac  CRISIL BBB-    10      Reaffirmed
Zycus Infotech Pvt Ltd                  Proposed LT Bk     CRISIL BBB-    50      Reaffirmed
                                        Loan Fac
Zycus Infotech Pvt Ltd                  TL                 CRISIL BBB-    67      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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