January 23, 2018 / 6:34 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Jan 23

    Jan 23 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 22, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A. B. Kanisha Timbers                   LOC                CRISIL A4      42.5    Reaffirmed
Bhansali Engineering Polymers Ltd       LOC                CRISIL A3+     1500
Upgraded from 'CRISIL A3'; Removed from 'Rating Watch with Developing Implications'
Bharat Roll Industry Pvt Ltd            BG                 CRISIL A3+     40      Reaffirmed
Bharat Roll Industry Pvt Ltd            LOC                CRISIL A3+     34      Reaffirmed
Chand Fruit Company Pvt Ltd             Export Packing     CRISIL A4+     120     Reaffirmed
                                        Credit
Eltech Appliances Pvt Ltd               LOC & BG           CRISIL A3      1050    Reaffirmed
Hindustan Hardwares                     BG                 CRISIL A4+     100     Reaffirmed
KCS Pvt Ltd                             BG                 CRISIL A4      18.8    Reaffirmed
Malwi Ship Breaking Co                  Foreign Exchange   CRISIL A4+     9.8     Reaffirmed
                                        Fac
Malwi Ship Breaking Co                  LOC                CRISIL A4+     470     Assigned
Maruti Nandan Spinning Mill             BG                 CRISIL A3      12      Assigned
Nilshikhaa Infraa India Ltd             Letter Of GuaranteeCRISIL A4      100
Issuer Not Cooperating; Rating Withdrawal
Prahlad Rai Agrawal                     BG                 CRISIL A4+     75      Assigned
Sainath Knitex Pvt Ltd                  BG                 CRISIL A4+     2.5     Reaffirmed
Migrated from 'CRISIL A4+' Issuer Not Cooperating
Star Rewinders and Electricals          BG                 CRISIL A4      125     Reaffirmed
Star Rewinders and Electricals          LOC                CRISIL A4      45      Reaffirmed
Tapi Prestressed Products Ltd           BG                 CRISIL A4      35
Upgraded from 'CRISIL D'
Tapi Prestressed Products Ltd           LOC & BG           CRISIL A4      240
Upgraded from 'CRISIL D'
Tapi Prestressed Products Ltd           Proposed LOC & BG  CRISIL A4      55      Assigned
Upgraded from 'CRISIL D'
TJSB Sahakari Bank Ltd                  BG                 CRISIL A2+     2200    Reaffirmed
TJSB Sahakari Bank Ltd                  Proposed BG        CRISIL A2+     50      Assigned
V.P. Mohammed Ayub                      BG                 CRISIL A4+     36
Withdrawal/Issuer Not Cooperating

LONG TERM RATINGS:
-------------------
A. B. Kanisha Timbers                   CC                 CRISIL B+      12.5    Reaffirmed
A. B. Kanisha Timbers                   Proposed LT Bk     CRISIL B+      12.9    Reaffirmed
                                        Loan Fac
Al Ameen Green Energy Pvt Ltd           Proposed LT Bk     CRISIL B       1200
                                        Loan Fac
Migrated from 'CRISIL B' Issuer Not Cooperating and Rating Withdrawal
Amber Enterprises India Ltd             Bk Fac             CRISIL A- /A2+
Unaffected by recent acquisition of 70 per cent stake in IL JIN Electronics (India) P Ltd
B. B. Products                          TL                 CRISIL B       60      Assigned
Bhansali Engineering Polymers Ltd       CC                 CRISIL BBB     600
Upgraded from 'CRISIL BBB-'; Removed from 'Rating Watch with Developing Implications'
Bharat Roll Industry Pvt Ltd            Bill Discounting   CRISIL BBB     20      Reaffirmed
Bharat Roll Industry Pvt Ltd            CC                 CRISIL BBB     220     Reaffirmed
Bharat Roll Industry Pvt Ltd            Proposed LT Bk     CRISIL BBB     36      Reaffirmed
                                        Loan Fac
Dineshchandra Tollways Pvt Ltd          LT Loan            CRISIL A(SO)   1170    Assigned
Elite Shelters                          Proposed LT Bk     CRISIL B       350     Withdrawal
                                        Loan Fac
Eltech Appliances Pvt Ltd               CC                 CRISIL BBB-    100     Reaffirmed
Eltech Appliances Pvt Ltd               Proposed LT Bk     CRISIL BBB-    200     Reaffirmed
                                        Loan Fac
Energy Solutions Pvt Ltd                Overdraft          CRISIL BB      60      Assigned
Ficom Engineering Pvt Ltd               Proposed LT Bk     CRISIL BB-     35      Assigned
                                        Loan Fac
Ficom Engineering Pvt Ltd               CC                 CRISIL BB-     25      Assigned
Ficom Engineering Pvt Ltd               LT Loan            CRISIL BB-     40      Assigned
Film Farm India Pvt Ltd                 CC                 CRISIL B+      80      Reaffirmed
Film Farm India Pvt Ltd                 LT Loan            CRISIL B+      3.6     Reaffirmed
Film Farm India Pvt Ltd                 Proposed LT Bk     CRISIL B+      16.4    Reaffirmed
                                        Loan Fac
Ganpati Ispat                           CC                 CRISIL B+      85      Reaffirmed
Geetika Fashions                        CC                 CRISIL BB-     170     Reaffirmed
Geetika Fashions                        Proposed LT Bk     CRISIL BB-     30      Reaffirmed
                                        Loan Fac
Golhar Ginning & Oils Pvt Ltd           CC                 CRISIL B-      47.5    Assigned
Golhar Ginning & Oils Pvt Ltd           LT Loan            CRISIL B-      41      Assigned
Goyal Sons Jewels Pvt Ltd               Drop Line          CRISIL BB      20      Reaffirmed
                                        Overdraft Fac
Goyal Sons Jewels Pvt Ltd               Electronic Dealer  CRISIL BB      150     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Goyal Sons Zaveri Pvt Ltd               Drop Line          CRISIL BB      30      Reaffirmed
                                        Overdraft Fac
Goyal Sons Zaveri Pvt Ltd               Electronic Dealer  CRISIL BB      120     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Hindustan Hardwares                     CC                 CRISIL BB      100     Reaffirmed
Hindustan Hardwares                     Channel Financing  CRISIL BB      50      Reaffirmed
Hindustan Hardwares                     Electronic Dealer  CRISIL BB      400     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Hindustan Hardwares                     LT Loan            CRISIL BB      50      Assigned

Jiteen Engineering Works                CC                 CRISIL B+      37.5
Migrated from 'CRISIL B Issuer Not Cooperating
Jiteen Engineering Works                Proposed LT Bk     CRISIL B+      2.4
                                        Loan Fac
Migrated from 'CRISIL B Issuer Not Cooperating
Jiteen Engineering Works                TL                 CRISIL B+      20.1
Migrated from 'CRISIL B Issuer Not Cooperating
KCS Pvt Ltd                             CC                 CRISIL B-      40      Reaffirmed
KCS Pvt Ltd                             TL                 CRISIL B-      11.2    Reaffirmed
Lalit Polyplast Pvt Ltd                 CC                 CRISIL B+      60      Reaffirmed
Malwi Ship Breaking Co                  CC                 CRISIL BB      60      Reassigned
Malwi Ship Breaking Co                  Proposed LT Bk     CRISIL BB      60.2    Assigned
                                        Loan Fac
Marangi Pvt Ltd                         CC                 CRISIL BB      40      Reaffirmed
Issuer Not Cooperating; Rating Migrated
Marangi Pvt Ltd                         Proposed LT Bk     CRISIL BB      1.5     Reaffirmed
                                        Loan Fac
Issuer Not Cooperating; Rating Migrated
Marangi Pvt Ltd                         Standby LOC        CRISIL BB      2       Reaffirmed
Issuer Not Cooperating; Rating Migrated
Marangi Pvt Ltd                         TL                 CRISIL BB      16.5    Reaffirmed
Issuer Not Cooperating; Rating Migrated
Maruti Nandan Spinning Mill             TL                 CRISIL BBB-    280     Assigned
Maruti Nandan Spinning Mill             CC                 CRISIL BBB-    50      Assigned
Nilshikhaa Infraa India Ltd             CC                 CRISIL B       20
Issuer Not Cooperating; Rating Withdrawal
OB Infrastructure Ltd                   NCD                CRISIL BBB(SO) 2712
Issuer Not Cooperating; Rating Migrated
Oriental Nagpur Betul Highway Ltd       NCD                CRISIL AAA(SO) 1393.6
Converted from Provisional rating to Final rating)
Oriental Nagpur Betul Highway Ltd       NCD                CRISIL AAA(SO) 2760    Reaffirmed
Oriental Nagpur Betul Highway Ltd       NCD                CRISIL AAA(SO) 25100   Reaffirmed
Oriental Nagpur Betul Highway Ltd       NCD                CRISIL AAA(SO) 2760    Reaffirmed
Oriental Nagpur Betul Highway Ltd       NCD                CRISIL AAA(SO) 25100   Reaffirmed
Pradhama Multi speciality Hospitals &   CC                 CRISIL B       115     Reaffirmed
Research Institute Ltd
Pradhama Multi speciality Hospitals &   LT Loan            CRISIL B       1310    Reaffirmed
Research Institute Ltd
Prahlad Rai Agrawal                     Proposed BG        CRISIL BB-     45      Assigned
Prahlad Rai Agrawal                     CC                 CRISIL BB-     5       Assigned
Quenby Transfers India Pvt Ltd          CC                 CRISIL BBB-    15      Reaffirmed
Outlook revised from 'Stable' and rating reaffirmed
Quenby Transfers India Pvt Ltd          LT Loan            CRISIL BBB-    29.6    Reaffirmed
Outlook revised from 'Stable' and rating reaffirmed
Quenby Transfers India Pvt Ltd          Proposed LT Bk     CRISIL BBB-    25.4    Reaffirmed
                                        Loan Fac
Outlook revised from 'Stable' and rating reaffirmed
Sainath Knitex Pvt Ltd                  CC                 CRISIL BB      70
Migrated from 'CRISIL BB-' Issuer Not Cooperating
Sainath Knitex Pvt Ltd                  Proposed LT Bk     CRISIL BB      56.5
                                        Loan Fac
Migrated from 'CRISIL BB-' Issuer Not Cooperating
Sainath Knitex Pvt Ltd                  TL                 CRISIL BB      21
Migrated from 'CRISIL BB-' Issuer Not Cooperating
Satyajeet Traders                       CC                 CRISIL BB+     95
Issuer Not Cooperating; Rating Withdrawal
Satyajeet Traders                       Proposed LT Bk     CRISIL BB+     5
                                        Loan Fac
Issuer Not Cooperating; Rating Withdrawal
Sharda Electricals                      CC                 CRISIL BB      130     Reaffirmed
Sree Vasavi Trust                       CC                 CRISIL B       20
Downgraded from 'CRISIL B+'
Sree Vasavi Trust                       LT Loan            CRISIL B       80
Downgraded from 'CRISIL B+'
Star Rewinders and Electricals          CC                 CRISIL B-      30      Reaffirmed
Star Rewinders and Electricals          Proposed CC Limit  CRISIL B-      5       Assigned
Tapi Prestressed Products Ltd           CC                 CRISIL B-      300
Upgraded from 'CRISIL D'
Thane Municipal Corporation             Corporate Credit   CCR AA
                                        Rating
Renewed and Upgraded from CCR AA-
Thane Municipal Corporation             Proposed LT Bk     CRISIL AA      1300
                                        Loan Fac
Upgraded from 'CRISIL AA-'
The Be Be Rubber Estates Ltd            CC                 CRISIL B       48.5
Upgraded from 'CRISIL B-'
The Be Be Rubber Estates Ltd            LT Loan            CRISIL B       20
Upgraded from 'CRISIL B-'
The Be Be Rubber Estates Ltd            Proposed LT Bk     CRISIL B       3.8
                                        Loan Fac
Upgraded from 'CRISIL B-'
Toyop Relief Pvt Ltd                    Export Packing     CRISIL D       100
                                        Credit
Downgraded from 'CRISIL B'
Toyop Relief Pvt Ltd                    LOC                CRISIL D       70
Downgraded from 'CRISIL B'
Toyop Relief Pvt Ltd                    Proposed LT Bk     CRISIL D       130     Assigned
                                        Loan Fac
Downgraded from 'CRISIL B'
V.P. Mohammed Ayub                      CC                 CRISIL BB-     30
Withdrawal/Issuer Not Cooperating
V.P. Mohammed Ayub                      Proposed LT Bk     CRISIL BB-     4
                                        Loan Fac
Withdrawal/Issuer Not Cooperating
Varun Fertilizers Pvt Ltd               CC                 CRISIL B+      80      Reaffirmed
Varun Fertilizers Pvt Ltd               Proposed LT Bk     CRISIL B+      37.5    Reaffirmed
                                        Loan Fac
Venkatasai Solvent India Pvt Ltd        Proposed LT Bk     CRISIL B+      35.9    Assigned
                                        Loan Fac
Venkatasai Solvent India Pvt Ltd        CC                 CRISIL B+      50      Assigned
Venkatasai Solvent India Pvt Ltd        LT Loan            CRISIL B+      14.1    Assigned
Veritas Polychem Pvt Ltd                Proposed TL        CRISIL BBB-    9600    Assigned
Wine Enterprises                        CC                 CRISIL BBB-    700     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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