January 3, 2018 / 6:12 AM / in a year

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, 2018.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
ABC Bearings Ltd                        LOC & BG           CRISIL A2      100     $
ABC Fruits                              LOC                CRISIL A4+     20      Assigned
Ark Industries Pvt Ltd                  LOC                CRISIL A3      250     Reaffirmed
ASTA India Pvt Ltd                      LOC                CRISIL A3      10      Reaffirmed
Bhatia Colour Company                   LOC                CRISIL A4      50      Migrated from
                                                                                  CRISIL A4
Issuer Not Cooperating
Competent Engineers                     Proposed ST Bk     CRISIL A4+     10      Assigned
                                        Loan Fac
Delta Iron and Steel Company Pvt Ltd    LOC                CRISIL A3      1822.5  Reaffirmed
H. R. Polycoats Pvt Ltd                 Proposed ST Bk     CRISIL A3      5       Assigned
                                        Loan Fac
Kotak Mahindra Investments Ltd          CP Programme       CRISIL A1+     55000   -
Kotak Mahindra Investments Ltd          CP Issue*          CRISIL A1+     12000   -
*Assigned for initial/ follow-on public offer financing on episodic basis
Koya and Company Construction Ltd       BG*                CRISIL A4+     1450    Reaffirmed
*Interchangeable with letter of credit up to Rs.70 crore
La Renon Healthcare Pvt Ltd             Sales Bill         CRISIL A2      200     Reaffirmed
                                        Discounting
Rajapalayam Mills Ltd                   Foreign Exchange   CRISIL A2+     30      Reaffirmed
                                        Forward@
@earlier rated as Derivative facility
Rajapalayam Mills Ltd                   LOC#               CRISIL A2+     400     Reaffirmed
#Interchangeable with buyers credit to the extent of Rs 15 crore  
Roy Cashew Products                     LOC                CRISIL A4+     40      Reaffirmed
Simplex Engineers And Traders           Proposed ST Bk     CRISIL A4+     51      Assigned
                                        Loan Fac
Simplex Engineers And Traders           LOC                CRISIL A4+     65      Assigned
Simplex Engineers And Traders           BG                 CRISIL A4+     4       Assigned
Sneha Farms Pvt Ltd                     LOC & BG           CRISIL A2      55      Reaffirmed
TPF Engineering Pvt Ltd                 BG                 CRISIL A4+     120     Assigned
Vicky Roadways                          BG                 CRISIL A4+     110     Reaffirmed
Vicky Roadways                          Overdraft          CRISIL A4+     20      Reaffirmed

LONG TERM RATINGS:
-------------------
ABC Bearings Ltd                        CC^                CRISIL BBB+    350     $
^Interchangeable with letter of credit/bank guarantee limit of up to Rs 5 crore   
ABC Bearings Ltd                        LT Loan            CRISIL BBB+    165.8   $
ABC Bearings Ltd                        Proposed CC Limit* CRISIL BBB+    50      $
*Interchangeable with letter of credit/bank guarantee limit
ABC Bearings Ltd                        Proposed TL        CRISIL BBB+    684.2   $
ABC Fruits                              Buyer`s Credit     CRISIL BB      44.9    Upgraded from
                                                                                  CRISIL B+
ABC Fruits                              CC                 CRISIL BB      30      Upgraded from
                                                                                  CRISIL B+
ABC Fruits                              LT Loan            CRISIL BB      80      Upgraded from
                                                                                  CRISIL B+
ABC Fruits                              Export Packing     CRISIL BB      80      Assigned
                                        Credit
Ark Industries Pvt Ltd                  CC                 CRISIL BBB-    150     Reaffirmed
ASTA India Pvt Ltd                      Bill Discounting   CRISIL BBB-    10      Reaffirmed
ASTA India Pvt Ltd                      CC                 CRISIL BBB-    275     Reaffirmed
ASTA India Pvt Ltd                      Proposed LT Bk     CRISIL BBB-    55      Reaffirmed
                                        Loan Fac
ASTA India Pvt Ltd                      Standby Line of    CRISIL BBB-    220     Reaffirmed
                                        Credit
Bhatia Colour Company                   CC                 -              110     Withdrawal
Bhatia Colour Company                   LOC                -              50      Withdrawal
Bhatia Colour Company                   Proposed LT Bk     -              100     Withdrawal
                                        Loan Fac
Bhatia Colour Company                   CC                 CRISIL B       110     Migrated from
                                                                                  CRISIL B
Issuer Not Cooperating
Bhatia Colour Company                   Proposed LT Bk     CRISIL B       100     Migrated from
                                        Loan Fac                                  CRISIL B
Issuer Not Cooperating
Cauvery Neeravari Nigama Ltd            Bonds - Series II  CRISIL AA-(SO) 2000    Reaffirmed
Cauvery Neeravari Nigama Ltd            Bonds - Series II  CRISIL AA-(SO) 2000    Reaffirmed
Competent Engineers                     CC                 CRISIL BB-     70      Assigned
Delta Iron and Steel Company Pvt Ltd    CC                 CRISIL BBB-    377.5   Reaffirmed
Devi Aqua Feeds Pvt Ltd                 LT Loan            CRISIL BBB     200     Assigned
Greenwood High Trust                    Drop Line          CRISIL A+      54.5    Upgraded from
                                        Overdraft Fac                             CRISIL A
Greenwood High Trust                    Proposed LT Bk     CRISIL A+      355.5   Upgraded from
                                        Loan Fac                                  CRISIL A
Greenwood High Trust                    Proposed Overdraft CRISIL A+      10      Upgraded from
                                        Fac                                       CRISIL A
H. R. Polycoats Pvt Ltd                 CC                 CRISIL BBB-    275     Reaffirmed
H. R. Polycoats Pvt Ltd                 TL                 CRISIL BBB-    220     Reaffirmed
H. R. Polycoats Pvt Ltd                 Foreign LOC        CRISIL BBB-    100     Reaffirmed
INDIC EMS Electronics Pvt Ltd           CC                 CRISIL BB+     240     Assigned
INDIC EMS Electronics Pvt Ltd           TL                 CRISIL BB+     60      Assigned
Jai Ravechi Chemicals Pvt Ltd           CC                 CRISIL B       50      Reaffirmed
Jai Ravechi Chemicals Pvt Ltd           Proposed LT Bk     CRISIL B       85      Reaffirmed
                                        Loan Fac
Kandhan Knitss                          Bill Discounting   CRISIL D       115     Reaffirmed
                                                                                  and Withdrawal
Kandhan Knitss                          Export Packing     CRISIL D       150     Reaffirmed
                                        Credit                                    and Withdrawal
Kandhan Knitss                          LT Loan            CRISIL D       17.6    Reaffirmed
                                                                                  and Withdrawal
Kandhan Knitss                          Proposed LT Bk     CRISIL D       66.2    Reaffirmed
                                        Loan Fac                                  and Withdrawal
Karnataka Neeravari Nigam Ltd           Bonds - Series VIIICRISIL AA-(SO) 5000    Reaffirmed
Karnataka State Financial Corporation   8.58% Bonds*^      CRISIL AA-(SO) 2350    Reaffirmed
*Amount outstanding as on March 31, 2015./^These are non-convertible bonds.
Karnataka State Financial Corporation   9.19% Bonds*^      CRISIL AA-(SO) 2500    Reaffirmed
*Amount outstanding as on March 31, 2015./^These are non-convertible bonds.
Karnataka State Financial Corporation   9.08% Bonds*#      CRISIL AA-(SO) 2000    Reaffirmed
*Amount outstanding as on March 31, 2015./#The trustee for this issuance has been changed from
State Bank of Hyderabad to SBI CAPS.
Karnataka State Financial Corporation   9.24% Bonds*#      CRISIL AA-(SO) 2000    Reaffirmed
*Amount outstanding as on March 31, 2015./#The trustee for this issuance has been changed from
State Bank of Hyderabad to SBI CAPS.
Karnataka State Financial Corporation   8.6% Bonds*        CRISIL AA-(SO) 1000    Reaffirmed
*Amount outstanding as on March 31, 2015.
Karnataka State Financial Corporation   8.39% Bonds*       CRISIL AA-(SO) 1230    Reaffirmed
*Amount outstanding as on March 31, 2015.
Karnataka State Financial Corporation   8.23% Bonds*       CRISIL AA-(SO) 770     Reaffirmed
*Amount outstanding as on March 31, 2015.
Karnataka State Financial Corporation   9.23% Bonds*       CRISIL AA-(SO) 1000    Reaffirmed
*Amount outstanding as on March 31, 2015.
Karnataka State Financial Corporation   9.49% Bonds*       CRISIL AA-(SO) 1000    Reaffirmed
*Amount outstanding as on March 31, 2015.
Karnataka State Financial Corporation   7.45% Bonds*       CRISIL AA-(SO) 358     Reaffirmed
*Amount outstanding as on March 31, 2015.
Karnataka State Financial Corporation   7.64% Bonds*       CRISIL AA-(SO) 1000    Reaffirmed
*Amount outstanding as on March 31, 2015.
Karnataka State Financial Corporation   8.39% Bonds*       CRISIL AA-(SO) 1000    Reaffirmed
*Amount outstanding as on March 31, 2015.
Kotak Mahindra Investments Ltd          Proposed LT Bk     CRISIL AAA     6750    Reaffirmed
                                        Loan Fac**
**Interchangeable with short term facilities
Kotak Mahindra Investments Ltd          WC Demand Loan     CRISIL AAA     8250    Reaffirmed
Kotak Mahindra Investments Ltd          NCDs               CRISIL AAA     32000   -
Kotak Mahindra Investments Ltd          Subordinated Debt  CRISIL AAA     2000    -
                                        Issue
Koya and Company Construction Ltd       CC                 CRISIL BB+     170     Reaffirmed
Koya and Company Construction Ltd       Overdraft          CRISIL BB+     71.5    Reaffirmed
Koya and Company Construction Ltd       Proposed LT Bk     CRISIL BB+     8.5     Reaffirmed
                                        Loan Fac
Krishna Bhagya Jala Nigam Ltd           Bond-Series 2014-B CRISIL AA-(SO) 5016    Reaffirmed
Krishna Bhagya Jala Nigam Ltd           Bond-Series 2014-C CRISIL AA-(SO) 2484    Reaffirmed
Krishna Bhagya Jala Nigam Ltd           Bond-Series        CRISIL AA-(SO) 5120    Reaffirmed
                                        2012-A**
**Amount outstanding as on March 31, 2014
Krishna Bhagya Jala Nigam Ltd           Bond-Series        CRISIL AA-(SO) 6445    Reaffirmed
                                        2014-A**
**Amount outstanding as on March 31, 2014
Krishna Bhagya Jala Nigam Ltd           Proposed TL        Provisional    15245   Reaffirmed
                                                           CRISIL AA-(SO)
Krishna Bhagya Jala Nigam Ltd           TL                 Provisional    34755   Reaffirmed
                                                           CRISIL AA-(SO)
La Renon Healthcare Pvt Ltd             CC                 CRISIL BBB+    150     Reaffirmed
La Renon Healthcare Pvt Ltd             Proposed LT Bk     CRISIL BBB+    200     Reaffirmed
                                        Loan Fac
Mahua Bharatpur Expressways Ltd         NCD                CRISIL AAA(SO) 78      Assigned
Mahua Bharatpur Expressways Ltd         NCD                CRISIL AAA(SO) 1842    Assigned
Mantra Softech India Pvt Ltd            CC                 CRISIL BB-     200     Upgraded from
                                                                                  CRISIL B+
Mantra Softech India Pvt Ltd            Non-FBL            CRISIL BB-     100     Upgraded from
                                                                                  CRISIL B+
Nobletex Industries Ltd                 CC                 CRISIL BB+     75.6    Assigned
Nobletex Industries Ltd                 LT Loan            CRISIL BB+     94.4    Assigned
Rajapalayam Mills Ltd                   CC                 CRISIL A-      1530    Reaffirmed
Rajapalayam Mills Ltd                   LT Loan            CRISIL A-      787.4   Reaffirmed
Rajapalayam Mills Ltd                   Proposed LT Bk     CRISIL A-      243.3   Reaffirmed
                                        Loan Fac
Rajapalayam Mills Ltd                   WC Demand Loan**   CRISIL A-      2287.5  Reaffirmed
**Includes sub-limits of Rs.23.75 crore for working capital term loan, Rs.50 crore for purchase
bill discounting, Rs.45 crore for foreign bill discounting, Rs.15 crore for letter for
credit-backed bill discounting, Rs 40 crore for letter of credit and Rs 40 crore  for buyer's
credit.
Rajapalayam Mills Ltd                   WC TL**            CRISIL A-      196.4   Reaffirmed
**Includes sub-limits of Rs.23.75 crore for working capital term loan, Rs.50 crore for purchase
bill discounting, Rs.45 crore for foreign bill discounting, Rs.15 crore for letter for
credit-backed bill discounting, Rs 40 crore for letter of credit and Rs 40 crore  for buyer's
credit.
Rajapalayam Textile Ltd                 CC                 CRISIL BBB     200     Upgraded from
                                                                                  CRISIL BBB-
Rajapalayam Textile Ltd                 Proposed LT Bk     CRISIL BBB     10      Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Rajapalayam Textile Ltd                 TL                 CRISIL BBB     45.8    Upgraded from
                                                                                  CRISIL BBB-
Rajsriya Automotive Industries Pvt Ltd  CC                 CRISIL A       170     Reaffirmed
Rajsriya Automotive Industries Pvt Ltd  LT Loan            CRISIL A       209.5   Reaffirmed
Reliance Infrastructure Ltd             Bond               CRISIL BBB+    1250    #
Reliance Infrastructure Ltd             NCD                CRISIL BBB+    7257    #
Roy Cashew Products                     CC                 CRISIL BB-     115     Reaffirmed
Simplex Engineers And Traders           CC                 CRISIL BB-     5       Assigned
Sneha Farms Pvt Ltd                     CC                 CRISIL BBB+    4800    Reaffirmed
Sneha Farms Pvt Ltd                     LT Loan            CRISIL BBB+    965     Reaffirmed
Tamil Nadu Electricity Board            8.75% Bonds*       CRISIL A(SO)   2000    Reaffirmed
* To be transferred to TANTRANSCO
Tamil Nadu Generation and Distribution  Bond Programme     CRISIL A(SO)   14000   Reaffirmed
Corporation Ltd
TPF Engineering Pvt Ltd                 CC                 CRISIL BB      10      Assigned
Udaipur Beverages Ltd                   CC                 CRISIL BBB     150     Reaffirmed
Udaipur Beverages Ltd                   Proposed TL        CRISIL BBB     350     Reaffirmed
Vicky Roadways                          CC                 CRISIL BB-     80      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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