January 22, 2014 / 4:53 AM / 4 years ago

CRISIL ratings for Indian debt instruments-Jan 22

Jan 22 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 21, 2014.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aanchal Collection Ltd                LOC                CRISIL A4      15      Assigned
Cochin Veneers                        LOC                CRISIL A4      40      Assigned
Craftsman Automation Pvt Ltd          BG                 CRISIL A3+     217.5   Reaffirmed
Craftsman Automation Pvt Ltd          LOC                CRISIL A3+     310     Reaffirmed
Craftsman Automation Pvt Ltd          Packing Credit     CRISIL A3+     640     Reaffirmed
Craftsman Automation Pvt Ltd          Vendor Financing   CRISIL A3+     75      Assigned
Graffiti Exports                      Foreign Bill       CRISIL A4+     33      Upgraded from
                                      Discounting                               CRISIL A4
Graffiti Exports                      LOC                CRISIL A4+     15      Upgraded from
                                                                                CRISIL A4
Graffiti Exports                      Packing Credit     CRISIL A4+     30      Upgraded from
                                                                                CRISIL A4
Indian Overseas Bank                  CD Programme       CRISIL A1+             Reaffirmed
Jaypee Alloy & Castings Pvt Ltd       BG                 CRISIL A4      25      Downgraded
                                                                                from CRISIL
                                                                                A4+
Jaypee Alloy & Castings Pvt Ltd       LOC                CRISIL A4      9.5     Downgraded
                                                                                from CRISIL
                                                                                A4+
Kirloskar Ferrous Industries Ltd      LOC                CRISIL A1      3300    Reaffirmed
Kirloskar Ferrous Industries Ltd      Proposed Bill      CRISIL A1      500     Reaffirmed
                                      Discounting Fac
Kirloskar Ferrous Industries Ltd      Proposed LOC       CRISIL A1      2000    Reaffirmed
Mahindra and Mahindra Financial       ST Bk Fac          CRISIL A1+     12.22   Reaffirmed
Services Ltd
Mahindra and Mahindra Financial       ST Debt Programme  CRISIL A1+     50000   Reaffirmed
Services Ltd
Mahindra Retail Pvt Ltd               LOC & BG           CRISIL A2      50      Reaffirmed
MALCO Energy Ltd                      LOC                CRISIL A1+     370     Assigned
MALCO Energy Ltd                      LOC & BG**         CRISIL A1+     900     Assigned
** Interchangeable with Letter of Undertaking
Narmada Bio-Chem Pvt Ltd              LOC                CRISIL A3      200     Reaffirmed
Narmada Bio-Chem Pvt Ltd              Standby Line of    CRISIL A3      50      Reaffirmed
                                      Credit
Patchala Spintex Pvt Ltd              Letter Of GuaranteeCRISIL A4      8       Reaffirmed
Pragati Construction Consultants      BG                 CRISIL A4+     100     Reaffirmed
Prince Industries                     BG                 CRISIL A4+     10      Reaffirmed
Prince Industries                     LOC                CRISIL A4+     250     Reaffirmed
Prince SWR Systems Pvt Ltd            BG                 CRISIL A4+     20      Reaffirmed
Prince SWR Systems Pvt Ltd            LOC                CRISIL A4+     350     Reaffirmed
Redington (India) Ltd                 STD                CRISIL A1+     6000    Reaffirmed
Redington (India) Ltd                 LOC                CRISIL A1+     1200    Reaffirmed
Redington (India) Ltd                 ST Loan            CRISIL A1+     7355    Reaffirmed
Renuka Equipments Pvt Ltd             BG                 CRISIL A4      60      Reaffirmed
Renuka Equipments Pvt Ltd             LOC                CRISIL A4      5       Reaffirmed
Sambandam Spinning Mills Ltd          BG                 CRISIL A4+     35      Reaffirmed
Sambandam Spinning Mills Ltd          LOC                CRISIL A4+     87.5    Reaffirmed
Shiva Polymers Pvt Ltd                BG                 CRISIL A4      10      Reaffirmed
Shiva Polymers Pvt Ltd                LOC                CRISIL A4      20      Reaffirmed
Sicagen India Ltd                     BG                 CRISIL A2      80      Reaffirmed
Sicagen India Ltd                     Channel Financing  CRISIL A2      350     Reaffirmed
Sicagen India Ltd                     Proposed Inventory CRISIL A2      20      Assigned
                                      Funding
Sicagen India Ltd                     LOC                CRISIL A2      20      Assigned
Sicagen India Ltd                     Inventory Funding  CRISIL A2      80      Assigned
                                      Fac
Simpex Granito Pvt Ltd                BG                 CRISIL A4+     26      Upgraded from
                                                                                CRISIL B+
Simpex Pharma Pvt Ltd                 Inland/Import LOC  CRISIL A4+     10      Assigned
Technova Imaging Systems (P) Ltd      BG                 CRISIL A4+     150     Reaffirmed
Technova Imaging Systems (P) Ltd      LOC*               CRISIL A4+     1800    Reaffirmed
*Fully interchangeable with buyers' credit
Technova Imaging Systems (P) Ltd      Proposed ST Bk     CRISIL A4+     300     Reaffirmed
                                      Loan Fac
The Muslim Educational Welfare SocietyBG                 CRISIL A4+     105     Reaffirmed
The Muslim Educational Welfare SocietyOverdraft Fac      CRISIL A4+     10      Reaffirmed
Venus Garments (India) Ltd            Export Packing     CRISIL A4      540     Reaffirmed
                                      Credit
Venus Garments (India) Ltd            LOC & BG           CRISIL A4      110     Reaffirmed
VIJAI SHREE LTD                       Proposed ST Bk     CRISIL A4+     100     Assigned
                                      Loan Fac

MEDIUM TERM RATINGS:
-------------------
Indian Overseas Bank                  FD                 FAAA           2       Assigned
                                                                        Trillion
Mahindra and Mahindra Financial       FD Programme       FAAA                   Reaffirmed
Services Ltd

LONG TERM RATINGS:
-------------------
Aanchal Collection Ltd                CC                 CRISIL B+      120     Downgraded
                                                                                from CRISIL
                                                                                BB-
ABC Fruits                            Buyer Credit Limit CRISIL D       35      Downgraded
                                                                                from CRISIL C
ABC Fruits                            CC                 CRISIL D       25      Downgraded
                                                                                from CRISIL C
ABC Fruits                            Proposed WC Fac    CRISIL D       21.1    Downgraded
                                                                                from CRISIL C
ABC Fruits                            TL                 CRISIL D       18.9    Downgraded
                                                                                from CRISIL C
Anand Prakash Ankit Kumar             CC                 CRISIL BB-     350     Reaffirmed

Baba Kashmira Singh Jan Sewa Trust    Overdraft Fac      CRISIL BB      100     Reaffirmed
Baba Kashmira Singh Jan Sewa Trust    Proposed TL        CRISIL BB      73.5    Reaffirmed
Baba Kashmira Singh Jan Sewa Trust    TL                 CRISIL BB      80      Assigned
Cochin Veneers                        Proposed TL        CRISIL B       0.5     Assigned
Cochin Veneers                        Proposed CC Limit  CRISIL B       10.5    Assigned
Cochin Veneers                        CC                 CRISIL B       9       Assigned
Craftsman Automation Pvt Ltd          CC                 CRISIL BBB     1060    Reaffirmed
Craftsman Automation Pvt Ltd          LT Loan            CRISIL BBB     3703.8  Reaffirmed
Craftsman Automation Pvt Ltd          Proposed LT Bk     CRISIL BBB     128     Reaffirmed
                                      Loan Fac
Diamond Solvex Pvt Ltd                CC                 CRISIL B+      175     Reaffirmed
Diamond Solvex Pvt Ltd                Overdraft Fac      CRISIL B+      6.8     Reaffirmed
Diamond Solvex Pvt Ltd                Proposed LT Bk     CRISIL B+      45.7    Reaffirmed
                                      Loan Fac
Diamond Solvex Pvt Ltd                TL                 CRISIL B+      22.5    Assigned
G.C.Strips Ltd                        CC                 CRISIL BB      85      Reaffirmed
G.C.Strips Ltd                        Proposed LT Bk     CRISIL BB      15      Assigned
                                      Loan Fac
Graffiti Exports                      CC                 CRISIL BB-     15      Reaffirmed
Graffiti Exports                      TL                 CRISIL BB-     35      Upgraded from
                                                                                CRISIL B+
Indian Overseas Bank                  Tier I Perpetual   CRISIL AA      7800    Reaffirmed
                                      Bonds
Indian Overseas Bank                  Upper Tier II      CRISIL AA      26323   Reaffirmed
                                      Bonds
Indian Overseas Bank                  Lower Tier II      CRISIL AA      25400   Reaffirmed
                                      Bonds
Jani Sales Pvt Ltd                    CC                 CRISIL BB+     200     Reaffirmed
Jani Sales Pvt Ltd                    Cheque Discounting CRISIL BB+     5       Reaffirmed
Jaypee Alloy & Castings Pvt Ltd       CC                 CRISIL BB-     40      Downgraded
                                                                                from CRISIL BB
Jaypee Alloy & Castings Pvt Ltd       Proposed LT Bk     CRISIL BB-     20      Downgraded
                                      Loan Fac                                  from CRISIL BB
K S Overseas Pvt Ltd                  CC                 CRISIL B+      650     Reaffirmed
K S Overseas Pvt Ltd                  Packing Credit     CRISIL B+      350     Reaffirmed
Kingfisher Airlines Ltd               CC                 CRISIL D       8940    Reaffirmed
Kingfisher Airlines Ltd               Funded Interest TL CRISIL D       2260    Reaffirmed
Kingfisher Airlines Ltd               LT Loan            CRISIL D       5970    Reaffirmed
Kingfisher Airlines Ltd               Rupee TL           CRISIL D       35270   Reaffirmed
Kingfisher Airlines Ltd               ST Loan            CRISIL D       390     Reaffirmed
Kingfisher Airlines Ltd               WC TL              CRISIL D       2990    Reaffirmed
Kirloskar Ferrous Industries Ltd      CC                 CRISIL A+      1200    Reaffirmed
Kirloskar Ferrous Industries Ltd      Proposed CC Limit  CRISIL A+      1400    Reaffirmed
Kirloskar Ferrous Industries Ltd      Proposed TL        CRISIL A+      1000    Reaffirmed
Mahindra and Mahindra Financial       CC                 CRISIL AA+     10      Reaffirmed
Services Ltd
Mahindra and Mahindra Financial       LT Bk Fac          CRISIL AA+     137.04  Reaffirmed
Services Ltd
Mahindra and Mahindra Financial       Proposed LT Bk     CRISIL AA+     30      Reaffirmed
Services Ltd                          Loan Fac
Mahindra and Mahindra Financial       NCD                CRISIL AA+     95510   Reaffirmed
Services Ltd
Mahindra and Mahindra Financial       Subordinated Debt  CRISIL AA+     10500   Reaffirmed
Services Ltd                          Programme
Mahindra Retail Pvt Ltd               CC                 CRISIL BBB+    370     Reaffirmed
Mahindra Retail Pvt Ltd               Proposed CC Limit  CRISIL BBB+    130     Reaffirmed
Mahindra Retail Pvt Ltd               TL                 CRISIL BBB+    218.2   Reaffirmed
MALCO Energy Ltd                      CC & WC demand     CRISIL AA-     200     Assigned
                                      loan*
* Interchangeable with Letter of Credit, Bank Guarantee & Letter of Undertaking to the extent of
Rs.100 Million
MALCO Energy Ltd                      Proposed CC Limit  CRISIL AA-     30      Assigned
Narmada Bio-Chem Pvt Ltd              CC                 CRISIL BBB-    270     Reaffirmed
Narmada Bio-Chem Pvt Ltd              TL                 CRISIL BBB-    113.8   Reaffirmed
Ostern Pvt Ltd                        CC*                CRISIL BBB-    75      Reaffirmed
*includes Rs.45 Million of sublimit for packing credit and bill discounting
Ostern Pvt Ltd                        TL                 CRISIL BBB-    105     Reaffirmed
Ostern Pvt Ltd                        CC#                CRISIL BBB-    75      Reaffirmed
# includes Rs.45 Million of sublimit for packing credit and bill discounting
P.I. Jewellers Pvt Ltd                CC                 CRISIL D       160     Downgraded
                                                                                from CRISIL
                                                                                BB-
Palathumpattu Sky Jewellery           CC                 CRISIL BB      87.5    Reaffirmed
Palathumpattu Sky Jewellery           Proposed CC Limit  CRISIL BB      21.5    Assigned
Parsvnath Developers Ltd              NCD                CRISIL B       600     Assigned
Patchala Spintex Pvt Ltd              CC                 CRISIL B+      160     Upgraded from
                                                                                CRISIL B
Patchala Spintex Pvt Ltd              TL                 CRISIL B+      302.3   Upgraded from
                                                                                CRISIL B
Pragati Construction Consultants      CC                 CRISIL BB-     50      Reaffirmed
Prince Industries                     CC                 CRISIL BB+     350     Reaffirmed
Prince Industries                     TL                 CRISIL BB+     183.4   Reaffirmed
Prince SWR Systems Pvt Ltd            CC                 CRISIL BB+     550     Reaffirmed
Prince SWR Systems Pvt Ltd            Overdraft Fac      CRISIL BB+     100     Reaffirmed
Prince SWR Systems Pvt Ltd            Proposed LT Bk     CRISIL BB+     10      Reaffirmed
                                      Loan Fac
Prince SWR Systems Pvt Ltd            Rupee TL           CRISIL BB+     57      Reaffirmed
Prince SWR Systems Pvt Ltd            TL                 CRISIL BB+     251.7   Reaffirmed
Punjab National Bank                  Tier II Bond       CRISIL AAA     10000   Assigned
                                      Issue (Under Basel
                                      III)
Punjab National Bank                  Tier I Perpetual   CRISIL AAA     26630   Reaffirmed
                                      Bonds
Punjab National Bank                  Upper Tier II      CRISIL AAA     75000   Reaffirmed
                                      Bonds
Punjab National Bank                  Lower Tier II      CRISIL AAA     5600    Reaffirmed
                                      Bonds
Realtech Nirman Pvt Ltd               Proposed LT Bk     CRISIL BB+     50      Upgraded from
                                      Loan Fac                                  CRISIL BB
Redington (India) Ltd                 CC                 CRISIL A+      8350    Reaffirmed
Redington (India) Ltd                 Proposed CC Limit  CRISIL A+      595     Reaffirmed
Renuka Equipments Pvt Ltd             CC                 CRISIL B+      60      Reaffirmed
Renuka Equipments Pvt Ltd             Proposed LT Bk     CRISIL B+      0.2     Reaffirmed
                                      Loan Fac
Renuka Equipments Pvt Ltd             TL                 CRISIL B+      111.7   Reaffirmed
Rising Landscapes - AOP               Proposed TL        CRISIL B+      300     Reaffirmed
Sambandam Spinning Mills Ltd          CC                 CRISIL BB+     352.5   Reaffirmed
Sambandam Spinning Mills Ltd          LT Loan            CRISIL BB+     525     Reaffirmed
Sambandam Spinning Mills Ltd          WC TL              CRISIL BB+     167.5   Reaffirmed
Shashadhar Cold Storage Pvt Ltd       BG                 CRISIL D       1.5     Reaffirmed
Shashadhar Cold Storage Pvt Ltd       CC                 CRISIL D       43      Reaffirmed
Shashadhar Cold Storage Pvt Ltd       TL                 CRISIL D       50      Reaffirmed
Shashadhar Cold Storage Pvt Ltd       WC Demand Loan     CRISIL D       4.5     Reaffirmed
Shiva Polymers Pvt Ltd                CC                 CRISIL B+      55      Reaffirmed
Shiva Polymers Pvt Ltd                Proposed LT Bk     CRISIL B+      10      Reaffirmed
                                      Loan Fac
Shiva Polymers Pvt Ltd                WC TL              CRISIL B+      45      Assigned
Shivam Foods Pvt Ltd                  CC                 CRISIL B+      76      Reaffirmed
Sicagen India Ltd                     CC                 CRISIL BBB+    350     Reaffirmed
Simpex Granito Pvt Ltd                CC                 CRISIL BB-     70      Upgraded from
                                                                                CRISIL B+
Simpex Granito Pvt Ltd                TL                 CRISIL BB-     63.3    Assigned
Simpex Pharma Pvt Ltd                 TL                 CRISIL BB-     34.9    Assigned
Simpex Pharma Pvt Ltd                 Proposed LT Bk     CRISIL BB-     115.1   Assigned
                                      Loan Fac
Simpex Pharma Pvt Ltd                 CC                 CRISIL BB-     30      Assigned
Skycity Hotels Pvt Ltd                TL                 CRISIL D       175.3   Reaffirmed
Sparkle Multipurpose Cold Storage Pvt TL                 CRISIL D       66      Assigned
Ltd
Sparkle Multipurpose Cold Storage Pvt CC                 CRISIL D       19.3    Assigned
Ltd
Sparkle Multipurpose Cold Storage Pvt Proposed LT Bk     CRISIL D       0.8     Assigned
Ltd                                   Loan Fac
Sunkon Energy Pvt Ltd                 TL                 CRISIL B+      931.5   Assigned
Swambhunath Cold Storage Pvt Ltd      BG                 CRISIL D       1.5     Reaffirmed
Swambhunath Cold Storage Pvt Ltd      CC                 CRISIL D       64      Reaffirmed
Swambhunath Cold Storage Pvt Ltd      TL                 CRISIL D       5.4     Reaffirmed
Swambhunath Cold Storage Pvt Ltd      WC Demand Loan     CRISIL D       6.5     Reaffirmed
Swambhunath Cold Storage Pvt Ltd      WC TL              CRISIL D       19.6    Reaffirmed
Technova Imaging Systems (P) Ltd      CC                 CRISIL BB+     900     Upgraded from
                                                                                CRISIL BB-
Technova Imaging Systems (P) Ltd      LT Loan            CRISIL BB+     650     Upgraded from
                                                                                CRISIL BB-
Technova Imaging Systems (P) Ltd      Proposed LT Bk     CRISIL BB+     200     Upgraded from
                                      Loan Fac                                  CRISIL BB-
The Muslim Educational Welfare SocietyTL                 CRISIL BB+     526     Reaffirmed
Venus Garments (India) Ltd            TL                 CRISIL B+      889.1   Upgraded from
                                                                                CRISIL B-
VIJAI SHREE LTD                       Proposed LT Bk     CRISIL BB      100     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)
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