January 3, 2020 / 6:38 AM / 2 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, 2020.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A. G. Construction                      BG                 CRISIL A3      500     -
(Upgraded from CRISIL A4+ )
A. G. Construction                      Proposed BG        CRISIL A3      200     Assigned
(Upgraded from CRISIL A4+ )
Aquanomics Systems Ltd                  LOC                CRISIL A3+     70      Reaffirmed
Chemspec Chemicals Pvt Ltd              LOC                CRISIL A3      600     Reaffirmed
Chemspec Chemicals Pvt Ltd              Post Shipment      CRISIL A3      100     Reaffirmed
                                        Credit
Chemspec Chemicals Pvt Ltd              Proposed NFBL      CRISIL A3      150     Reaffirmed
Deo Mangal Memorial Trust               BG                 CRISIL A4+     110     -
(Migrated from CRISIL A4+ ISSUER NOT COOPERATING)
H M Electro Mech Ltd                    BG                 CRISIL A4+     79      Assigned
Haldiram Snacks Pvt Ltd                 BG                 CRISIL A1+     25      Reaffirmed
Haldiram Snacks Pvt Ltd                 Capex LOC          CRISIL A1+     500     Reaffirmed
Haldiram Snacks Pvt Ltd                 LOC                CRISIL A1+     600     Reaffirmed
Jawandsons                              LOC                CRISIL A3+     50      Reaffirmed
Kintech Synergy Pvt Ltd                 BG                 CRISIL A2      650     Reaffirmed
Krystal Integrated Services Pvt Ltd     BG                 CRISIL A2      430     Reaffirmed
Rusan Pharma Ltd                        BG                 CRISIL A2      40      Reaffirmed
Rusan Pharma Ltd                        LOC                CRISIL A2      60      Assigned
Shivam Autozone India Pvt Ltd           BG                 CRISIL A4+     20      Reaffirmed
(Migrated from CRISIL A4+ ISSUER NOT COOPERATING)
Shyam Ferro Alloys Ltd                  LOC                CRISIL A1      4070    Reaffirmed
SKS Spiral Pipes                        Letter Of GuaranteeCRISIL A4+     7       Reaffirmed
Svatantra Microfin Pvt Ltd              ST Debt Issue      CRISIL A1+     1000    Reaffirmed
Wadpack Pvt Ltd                         LOC                CRISIL A4+     50      Reaffirmed
Zydus Hospira Oncology Pvt Ltd          LOC**              CRISIL A1      395     Reaffirmed
(**Interchangeable with PC, packing credit in foreign currency (PCFC), bill purchase (BP),
foreign bill purchase (FBP), bill discounting (BD), foreign bill discounting (FBD),
post-shipment demand loan (PSDL), letter of credit, and bank guarantee)
Zydus Hospira Oncology Pvt Ltd          Proposed ST Bk     CRISIL A1      385     Reaffirmed
                                        Loan Fac
Zydus Hospira Oncology Pvt Ltd          ST Loan@           CRISIL A1      300     Reaffirmed
(@Sub-limit of Rs 30 crore overdraft; interchangeable with pre-shipment credit (PC), letter of
credit, and bank guarantee)
LONG TERM RATINGS:
-------------------
A. G. Construction                      CC                 CRISIL         200     -
                                                           BBB-/Stable
(Upgraded from CRISIL BB+/Stable)
A. G. Construction                      Proposed CC Limit  CRISIL         100     Assigned
                                                           BBB-/Stable
(Upgraded from CRISIL BB+/Stable)
Anand Wines                             CC                 CRISIL         120     Assigned
                                                           BB-/Stable
Anand Wines                             Proposed CC Limit  CRISIL         40      Assigned
                                                           BB-/Stable
Aquanomics Systems Ltd                  CC                 CRISIL         40      Reaffirmed
                                                           BBB/Stable
Astonfield Solar (Rajasthan) Pvt Ltd    Proposed LT Bk     CRISIL         7.8     -
                                        Loan Fac           BB/Stable
(Downgraded from CRISIL BB+/Negative)
Astonfield Solar (Rajasthan) Pvt Ltd    TL                 CRISIL         532.2   -
                                                           BB/Stable
(Downgraded from CRISIL BB+/Negative)
Bijapur Hungund Tollway Pvt Ltd         Proposed LT Bk     CRISIL A-      157.4   -
                                        Loan Fac
(Downgraded from CRISIL A ; Continues on Rating Watch with Developing Implications)
Bijapur Hungund Tollway Pvt Ltd         TL                 CRISIL A-      4142.6  -
(Downgraded from CRISIL A ; Continues on Rating Watch with Developing Implications)
Bijapur Hungund Tollway Pvt Ltd         NCD                CRISIL A-      2500    -
Bijapur Hungund Tollway Pvt Ltd         NCD                CRISIL A-      1450    -
Chemspec Chemicals Pvt Ltd              CC                 CRISIL         956     Reaffirmed
                                                           BBB-/Positive
(Outlook revised from Stable and rating reaffirmed)
Chemspec Chemicals Pvt Ltd              Proposed FB Bk     CRISIL         194     Reaffirmed
                                        Limits             BBB-/Positive
(Outlook revised from Stable and rating reaffirmed)
Chemspec Chemicals Pvt Ltd              TL                 CRISIL         250     Reaffirmed
                                                           BBB-/Positive
(Outlook revised from Stable and rating reaffirmed)
Deo Mangal Memorial Trust               Overdraft          CRISIL         92.9    Reaffirmed
                                                           BB+/Stable
(Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Deo Mangal Memorial Trust               TL                 CRISIL         27.1    Reaffirmed
                                                           BB+/Stable
(Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Devraj Tropical Fruits                  CC                 CRISIL         80      Assigned;
                                                           BB+/Stable             Suspension
                                                                                  Revoked
H M Electro Mech Ltd                    CC                 CRISIL         19      Assigned
                                                           BB+/Stable
H M Electro Mech Ltd                    Proposed LT Bk     CRISIL         2       Assigned
                                        Loan Fac           BB+/Stable
Haldiram Snacks Pvt Ltd                 TL                 CRISIL         1000    Reaffirmed
                                                           AA+/Stable
Haldiram Snacks Pvt Ltd                 Drop Line          CRISIL         800     Reaffirmed
                                        Overdraft Fac      AA+/Stable

Haldiram Snacks Pvt Ltd                 Standby LOC        CRISIL         470     Reaffirmed
                                                           AA+/Stable
Haldiram Snacks Pvt Ltd                 WC Fac             CRISIL         650     Reaffirmed
                                                           AA+/Stable
Haldiram Snacks Pvt Ltd                 WC Fac*            CRISIL         250     Reaffirmed
                                                           AA+/Stable
(*Interchangeable to LC up to Rs.25 Crore)
Haldiram Snacks Pvt Ltd                 WC Fac#            CRISIL         400     Assigned
                                                           AA+/Stable
(#including non-Fund based BG of Rs.12 Crore)
Jawandsons                              LT Loan            CRISIL         220.3   Reaffirmed
                                                           BBB/Stable
Jawandsons                              CC/ Overdraft Fac  CRISIL         40      Reaffirmed
                                                           BBB/Stable
Jawandsons                              Export Packing     CRISIL         700     Reaffirmed
                                        Credit             BBB/Stable
Jawandsons                              Proposed FB Bk     CRISIL         89.7    Reaffirmed
                                        Limits             BBB/Stable
Jindba Processors Pvt Ltd               Proposed FB Bk     CRISIL         8.8     Assigned
                                        Limits             BBB-/Stable
Jindba Processors Pvt Ltd               CC                 CRISIL         72.5    Assigned
                                                           BBB-/Stable
Jindba Processors Pvt Ltd               LT Loan            CRISIL         238.7   Assigned
                                                           BBB-/Stable
Kintech Synergy Pvt Ltd                 TL                 CRISIL         45      Assigned
                                                           BBB+/Stable
Kintech Synergy Pvt Ltd                 CC                 CRISIL         210     Reaffirmed
                                                           BBB+/Stable
Kintech Synergy Pvt Ltd                 Proposed LT Bk     CRISIL         30      Reaffirmed
                                        Loan Fac           BBB+/Stable
Krystal Integrated Services Pvt Ltd     Proposed LT Bk     CRISIL         47.5    Reaffirmed
                                        Loan Fac           BBB+/Stable
Krystal Integrated Services Pvt Ltd     CC                 CRISIL         402.5   Reaffirmed
                                                           BBB+/Stable
Perfect Retreads Pvt Ltd                CC                 CRISIL         330     Reaffirmed
                                                           BBB/Stable
Prasad Seeds Pvt Ltd                    Bill Discounting   CRISIL         105     Reaffirmed
                                                           BBB+/Stable
Prasad Seeds Pvt Ltd                    LT Loan            CRISIL         893.2   Reaffirmed
                                                           BBB+/Stable
Prasad Seeds Pvt Ltd                    Proposed LT Bk     CRISIL         1529.2  Reaffirmed
                                        Loan Fac           BBB+/Stable
R G Bronze Mfg. Company Pvt Ltd         Proposed LT Bk     CRISIL         75      -
                                        Loan Fac           BBB/Stable
(Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Rusan Pharma Ltd                        CC                 CRISIL         70      Reaffirmed
                                                           BBB+/Stable
Rusan Pharma Ltd                        TL                 CRISIL         277     Assigned
                                                           BBB+/Stable
Rusan Pharma Ltd                        Export Packing     CRISIL         240     Assigned
                                        Credit             BBB+/Stable
Shivam Autozone India Pvt Ltd           CC                 CRISIL         37.7    Reaffirmed
                                                           BB+/Stable
(Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Shivam Autozone India Pvt Ltd           Loan Against       CRISIL         142.3   Assigned
                                        Property           BB+/Stable
(Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Shivam Autozone India Pvt Ltd           Inventory Funding  CRISIL         250     Reaffirmed
                                        Fac                BB+/Stable
(Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Shivam Autozone India Pvt Ltd           Inventory Funding  CRISIL         440     Assigned
                                        Fac*               BB+/Stable
(* Rs.4 crore of Working Capital Term Loan is a sub-limit of inventory funding facility.
Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Shivam Autozone India Pvt Ltd           WC TL              CRISIL         60      Assigned
                                                           BB+/Stable
(Migrated from CRISIL BB+/Stable ISSUER NOT COOPERATING)
Shyam Ferro Alloys Ltd                  CC                 CRISIL         1250    Reaffirmed
                                                           A/Stable
Shyam Ferro Alloys Ltd                  Proposed BG        CRISIL         95      Reaffirmed
                                                           A/Stable
Shyam Ferro Alloys Ltd                  Proposed LT Bk     CRISIL         335     Reaffirmed
                                        Loan Fac           A/Stable
SKS Spiral Pipes                        CC                 CRISIL         103     Reaffirmed
                                                           BB/Stable
Stone Shippers Ltd                      Export Packing     CRISIL         180     Reaffirmed
                                        Credit             BBB/Stable
Svatantra Microfin Pvt Ltd              Proposed LT Bk     CRISIL         10500   Reaffirmed
                                        Loan Fac           A+/Stable
Svatantra Microfin Pvt Ltd              TL                 CRISIL         4500    Reaffirmed
                                                           A+/Stable
Svatantra Microfin Pvt Ltd              Subordinated Debt  CRISIL         200     Assigned
                                                           A+/Stable
Svatantra Microfin Pvt Ltd              NCD                CRISIL         750     Reaffirmed
                                                           A+/Stable
Tirupur Pandit Hosiery Millss Pvt Ltd   Foreign Bill       CRISIL         30      Reaffirmed
                                        Discounting        B+/Stable
Tirupur Pandit Hosiery Millss Pvt Ltd   Export Packing     CRISIL         70      Reaffirmed
                                        Credit             B+/Stable
Wadpack Pvt Ltd                         TL                 CRISIL         60      Assigned
                                                           BB/Stable
Wadpack Pvt Ltd                         CC                 CRISIL         100     Reaffirmed
                                                           BB/Stable
Wadpack Pvt Ltd                         Proposed WC Fac    CRISIL         4.5     Reaffirmed
                                                           BB/Stable
Zydus Hospira Oncology Pvt Ltd          CC**               CRISIL         5       Reaffirmed
                                                           A+/Stable
(**Interchangeable with PC, packing credit in foreign currency (PCFC), bill purchase (BP),
foreign bill purchase (FBP), bill discounting (BD), foreign bill discounting (FBD),
post-shipment demand loan (PSDL), letter of credit, and bank guarantee)
--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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