January 3, 2019 / 4:31 AM / 4 months ago

CRISIL ratings for Indian debt instruments-Jan 3

    Jan 3 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 2, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Amit Pomeg-Tech Pvt Ltd                 LOC                CRISIL A4+     181.5   Assigned
Ashish Chemicals                        LOC#               CRISIL A1      20
Upgraded from 'CRISIL A2+' ; #Interchangeable with bank guarantee
Bajaj Steel Industries Ltd              BG                 CRISIL A3+     5
Upgraded from 'CRISIL A3'
Bajaj Steel Industries Ltd              LOC                CRISIL A3+     60
Upgraded from 'CRISIL A3'
Bajaj Steel Industries Ltd              LOC & BG#          CRISIL A3+     70
Upgraded from 'CRISIL A3' ; #Includes sublimit of bank guarantee of Rs 5.0 crore
Brassex India                           Packing Credit     CRISIL A4+     42.5    Assigned
C.R.I. Pumps Pvt Ltd                    CP                 CRISIL A1      550     Reaffirmed
C.R.I. Pumps Pvt Ltd                    BG                 CRISIL A1      16.2    Reaffirmed
C.R.I. Pumps Pvt Ltd                    LOC                CRISIL A1      250     Reaffirmed
Commander Vitrified Pvt Ltd             LOC & BG           CRISIL A3+     70      Reaffirmed
Placed on 'Rating Watch with Negative Implications'
J.P.G. Constructions Pvt Ltd            BG                 CRISIL A4+     84.3    Reaffirmed
J.P.G. Constructions Pvt Ltd            Proposed NFBL      CRISIL A4+     79      Reaffirmed
Mahak Synthetics Mills Pvt Ltd          BG                 CRISIL A3      10      Reaffirmed
Meet Associates Pvt Ltd                 BG                 CRISIL A4+     17.5    Reaffirmed
Meghmani LLP                            LOC & BG           CRISIL A1      55
Upgraded from 'CRISIL A2+'
Meghmani Pigments                       BG                 CRISIL A1      15
Upgraded from 'CRISIL A2+'
Shri Ram Cot Fab                        BG                 CRISIL A3      20      Reaffirmed
Swashthik Caps Pvt Ltd                  CC                 CRISIL A4      35
Issuer Not Cooperating; Rating Withdrawn
Swashthik Caps Pvt Ltd                  LOC                CRISIL A4      10
Issuer Not Cooperating; Rating Withdrawn
Swashthik Caps Pvt Ltd                  LT Loan            CRISIL A4      5
Issuer Not Cooperating; Rating Withdrawn
Swashthik Preforms Pvt Ltd              BG                 CRISIL A4      5
Issuer Not Cooperating; Rating Withdrawn
Swashthik Preforms Pvt Ltd              CC                 CRISIL A4      45
Issuer Not Cooperating; Rating Withdrawn
Swashthik Preforms Pvt Ltd              LOC                CRISIL A4      22.5
Issuer Not Cooperating; Rating Withdrawn
Swashthik Preforms Pvt Ltd              LT Loan            CRISIL A4      12.5
Issuer Not Cooperating; Rating Withdrawn
UPL Ltd                                 LOC & BG           CRISIL A1+     6500    Reaffirmed
UPL Ltd                                 Proposed LOC & BG  CRISIL A1+     2000
Reaffirmed 
UPL Ltd                                 CP                 CRISIL A1+     10000   Reaffirmed
Enhanced from Rs.900 Crore

LONG TERM RATINGS:
-------------------
Aggarwwal Exports                       CC                 CRISIL BB-     5       Reaffirmed
Aggarwwal Exports                       Export Packing     CRISIL BB-     65      Reaffirmed
                                        Credit
Aggarwwal Exports                       Foreign Bill       CRISIL BB-     65      Reaffirmed
                                        Purchase
Aggarwwal Exports                       Standby Line of    CRISIL BB-     26      Reaffirmed
                                        Credit
Aggarwwal Exports                       WC Fac             CRISIL BB-     59      Reaffirmed
Ali Jewellers                           CC                 CRISIL B       100     Assigned
AMG Rotana Motor LLP                    CC                 CRISIL D       60
Downgraded from 'CRISIL B+'
Amit Pomeg-Tech Pvt Ltd                 Overdraft          CRISIL BB-     118.5   Assigned
Ashish Chemicals                        Export Packing     CRISIL A       58
                                        Credit*
Upgraded from 'CRISIL A-' ; *Interchangeable with cash credit to the extent of Rs 3 crore
Ashish Chemicals                        Proposed LT Bk     CRISIL A       4.2
                                        Loan Fac
Upgraded from 'CRISIL A-'
Bajaj Steel Industries Ltd              CC@                CRISIL BBB     300
Upgraded from 'CRISIL BBB-' ; @Includes sublimit for packing credit/post-shipment credit/export
packing credit/pre-shipment credit in foreign currency/foreign bill purchase/post-shipment
credit in foreign currency to an extent of Rs 10.0 crore 

Bajaj Steel Industries Ltd              CC                 CRISIL BBB     140
Upgraded from 'CRISIL BBB-'
Bajaj Steel Industries Ltd              TL*                CRISIL BBB     42.5
Upgraded from 'CRISIL BBB-' ; * Includes sublimit of standby letter of credit to an extent of Rs
2.84 crore
Bajaj Steel Industries Ltd              TL                 CRISIL BBB     18.3
Upgraded from 'CRISIL BBB-'
Balaji Polycot Pvt Ltd                  CC                 CRISIL BBB-    60      Reaffirmed
Balaji Polycot Pvt Ltd                  Proposed LT Bk     CRISIL BBB-    16      Reaffirmed
                                        Loan Fac
Balaji Polycot Pvt Ltd                  TL                 CRISIL BBB-    14      Assigned
Bansi Mall Management Company Pvt Ltd   LT Loan            CRISIL BBB-(SO)2500
Reassigned
Brassex India                           Proposed TL        CRISIL BB-     17.5    Assigned
C.R.I. Pumps Pvt Ltd                    CC                 CRISIL A       3000    Reaffirmed
C.R.I. Pumps Pvt Ltd                    LT Loan            CRISIL A       1181.8  Reaffirmed
C.R.I. Pumps Pvt Ltd                    Proposed TL        CRISIL A       480     Reaffirmed
Commander Vitrified Pvt Ltd             CC                 CRISIL BBB     165     Reaffirmed
Placed on 'Rating Watch with Negative Implications'
Commander Vitrified Pvt Ltd             LT Loan            CRISIL BBB     211.1   Reaffirmed
Placed on 'Rating Watch with Negative Implications'

Commander Vitrified Pvt Ltd             Proposed FB Bk     CRISIL BBB     150     Reaffirmed
                                        Limits
Placed on 'Rating Watch with Negative Implications'
H.M. Textiles Pvt Ltd                   CC                 CRISIL BBB     150     Reaffirmed
International Trading Company           CC                 CRISIL BB-     80      Reaffirmed
International Trading Company           TL                 CRISIL BB-     30      Reaffirmed
Mahak Synthetics Mills Pvt Ltd          CC                 CRISIL BBB-    350     Reaffirmed
Mahak Synthetics Mills Pvt Ltd          TL                 CRISIL BBB-    190     Reaffirmed
Meet Associates Pvt Ltd                 CC                 CRISIL BB-     133.5   Reaffirmed
Meet Associates Pvt Ltd                 Electronic Dealer  CRISIL BB-     50      Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Meet Associates Pvt Ltd                 LT Loan            CRISIL BB-     11.5    Reaffirmed
Meet Associates Pvt Ltd                 Standby Line of    CRISIL BB-     0.2     Assigned
                                        Credit
Meghmani LLP                            CC*                CRISIL A       229.1
Upgraded from 'CRISIL A-' ; *Interchangeable with letter of credit & Bank Guarantee to the
extent of Rs 8 crore
Meghmani LLP                            CC                 CRISIL A       31.2
Upgraded from 'CRISIL A-'
Meghmani Pigments                       CC*                CRISIL A       325
Upgraded from 'CRISIL A-'
Milroc Good Earth Property And          Overdraft          CRISIL B       100
Developers LLP
Migrated from 'CRISIL D Issuer Not Cooperating'
Milroc Good Earth Property And          TL                 CRISIL B       50
Developers LLP
Migrated from 'CRISIL D Issuer Not Cooperating'
Mishribai Agro Tech Pvt Ltd             CC                 CRISIL B+      50
Issuer Not Cooperating; Rating Withdrawn
Mishribai Agro Tech Pvt Ltd             TL                 CRISIL B+      75
Issuer Not Cooperating; Rating Withdrawn
OM Industries - Dhule                   Warehouse FinancingCRISIL BB+     80
Withdrawn/Issuer Not Cooperating
Omshree Agro Industries Pvt Ltd         CC                 CRISIL BB+     50
Issuer Not Cooperating; Rating Withdrawn
Shri Laxmi Polycoat Pvt Ltd             CC                 CRISIL BBB-    64.5    Reaffirmed
Shri Laxmi Polycoat Pvt Ltd             Proposed LT Bk     CRISIL BBB-    20      Reaffirmed
                                        Loan Fac
Shri Laxmi Polycoat Pvt Ltd             TL                 CRISIL BBB-    55.5    Assigned
Shri Ram Cot Fab                        CC                 CRISIL BBB-    100     Reaffirmed
Shri Ram Cot Fab                        TL                 CRISIL BBB-    265     Reaffirmed
UPL Ltd                                 CC#                CRISIL AA+     11500   Reaffirmed
Removed from 'Rating Watch with Negative Implications'; Rating reaffirmed ; # Fully
interchangeable between cash credit, working capital demand loan, foreign currency non-resident
(Bank) loans, packing credit in INR, packing credit in foreign currency, export bill discounting
in INR and foreign currency, buyer's credit for imports and domestic purchases, and domestic
sales bill discounting. 
UPL Ltd                                 Proposed CC Limit  CRISIL AA+     2000    Reaffirmed
Removed from 'Rating Watch with Negative Implications'; Rating reaffirmed 
UPL Ltd                                 Proposed LT Bk     CRISIL AA+     3000    Assigned
                                        Loan Fac
Removed from 'Rating Watch with Negative Implications'; Rating reaffirmed 
UPL Ltd                                 NCD                CRISIL AA+     5000
Removed from 'Rating Watch with Negative Implications'; Rating reaffirmed
Ushasri Cotton And Ginning Mills Pvt LtdCC                 CRISIL B       70      Assigned

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