January 6, 2020 / 6:00 AM / 21 days ago

CRISIL ratings for Indian debt instruments-Jan 6

    Jan 6 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of January 3, 2020.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
ASC Infratech Pvt Ltd                   BG                 CRISIL A4+     122.5   Assigned
Automotive Stampings and Assemblies Ltd LOC & BG           CRISIL A3      21.3    Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Bothra Shipping Services Pvt Ltd        BG                 CRISIL A1      300     Reaffirmed
Chinar Forge Ltd                        LT Loan            CRISIL D       122     Downgraded
                                                                                  from CRISIL
                                                                                  A4+/Stable
(Issuer Not Cooperating) 
Classy Tiles LLP                        BG                 CRISIL A4+     36.5    Assigned
Dharamraj Contracts India Pvt Ltd       BG                 CRISIL D       340     Downgraded
                                                                                  from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
D. E. C. Infrastructure and Projects    BG                 CRISIL A1      1200    Reaffirmed
India Pvt Ltd
D. E. C. Infrastructure and Projects    LOC                CRISIL A1      500     Reaffirmed
India Pvt Ltd
DCS International Trading Co. - Delhi   Pre Shipment CreditCRISIL A4+     120     Assigned
Dharam Stainless Steel Pvt Ltd          BG                 CRISIL A4+     3       Assigned
Dharam Stainless Steel Pvt Ltd          Inland/Import LOC  CRISIL A4+     5       Assigned
Dharam Stainless Steel Pvt Ltd          Packing Credit     CRISIL A4+     35      Assigned
Evergreen Publications (India) Ltd      BG                 CRISIL A3      30      Reaffirmed
Gupta Power Infrastructure Ltd          Proposed NFBL      CRISIL A2+     1000    Reaffirmed
IM Gears Pvt Ltd                        BG                 CRISIL A2+     10      Reaffirmed
IM Gears Pvt Ltd                        Foreign Exchange   CRISIL A2+     17.7    Reaffirmed
                                        Forward
IM Gears Pvt Ltd                        LOC                CRISIL A2+     40      Reaffirmed
IM Gears Pvt Ltd                        Overdraft          CRISIL A2+     5.3     Reaffirmed
Jai Prakash and Sons                    BG                 CRISIL A4+     159.5   Reaffirmed
Jai Prakash and Sons                    Overdraft          CRISIL A4+     15      Reaffirmed
Jijau Constructions Road Builder Pvt LtdBG                 CRISIL A3      60      Reaffirmed
Jijau Constructions Road Builder Pvt LtdOverdraft          CRISIL A3      47.5    Reaffirmed
Medi Pharma Drug House                  LOC                CRISIL A4+     375     Reaffirmed
Nova Publications                       BG                 CRISIL A3      70      Reaffirmed
Nova Publications and Printers Pvt Ltd  BG                 CRISIL A3      5       Reaffirmed
Roop Telsonic Ultrasonix Ltd            BG                 CRISIL A4+     20      Reaffirmed
Sarat Chatterjee & Co. (Visakhapatnam)  BG                 CRISIL A1      790     Reaffirmed
Pvt Ltd
Shital Fibers Ltd                       LOC                CRISIL D       390     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Shivshakti Construction Co.             BG                 CRISIL A4+     150     Reaffirmed
Shivshakti Construction Co.             Overdraft          CRISIL A4+     79.4    Reaffirmed
Sri Devaraaja Agro Industries           LOC                CRISIL A4+     30      Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Ved Parkash and Sons                    BG                 CRISIL A3      10      Reaffirmed
Versabyte Data Systems Pvt Ltd          BG                 CRISIL A4+     58.3    Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Viltans Polyplast                       LOC                CRISIL A4      30
(Issuer Not Cooperating)/Revised from CRISIL A4 to CRISIL D and Simultaneously Revised to CRISIL
A4
Vinpack India Pvt Ltd                   Overdraft          CRISIL A4      27.5    Assigned
LONG TERM RATINGS:
-------------------
Archee Group Contracts Pvt Ltd          CC                 CRISIL         180     Reaffirmed
                                                           BB+/Stable
ASC Infratech Pvt Ltd                   TL                 CRISIL         20      Assigned
                                                           BB+/Stable
ASC Infratech Pvt Ltd                   CC                 CRISIL         17.5    Assigned
                                                           BB+/Stable
Automotive Stampings and Assemblies Ltd LT Loan            CRISIL         115.7   Downgraded
                                                           BBB-/Stable            from CRISIL
                                                                                  BBB/Negative
Automotive Stampings and Assemblies Ltd Proposed LT Bk     CRISIL         74      Downgraded
                                        Loan Fac           BBB-/Stable            from CRISIL
                                                                                  BBB/Negative
Automotive Stampings and Assemblies Ltd WC Demand Loan     CRISIL         379     Downgraded
                                                           BBB-/Stable            from CRISIL
                                                                                  BBB/Negative
Automotive Stampings and Assemblies Ltd CC#                CRISIL         240     Downgraded
                                                           BBB-/Stable            from CRISIL
                                                                                  BBB/Negative
#Interchangeable with bank guarantee and letter of credit up to Rs 5 crore; and with working
capital demand loan, short-term loan, letter of credit, bank guarantee, and export credit up to
Rs 9 crore
Bothra Shipping Services Pvt Ltd        CC                 CRISIL A/Stable350     Reaffirmed
Bothra Shipping Services Pvt Ltd        Proposed LT Bk     CRISIL A/Stable66.2    Reaffirmed
                                        Loan Fac
Bothra Shipping Services Pvt Ltd        TL                 CRISIL A/Stable903.8   Reaffirmed
Chinar Forge Ltd                        CC                 CRISIL D       240     Downgraded
                                                                                  from CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Chinar Forge Ltd                        Non-FBL            CRISIL D       78      -
(Issuer Not Cooperating)
Classy Tiles LLP                        TL                 CRISIL         143.5   Assigned
                                                           BB/Stable
Classy Tiles LLP                        CC                 CRISIL         80      Assigned
                                                           BB/Stable
D. E. C. Infrastructure and Projects    CC                 CRISIL A/Stable240     Reaffirmed
India Pvt Ltd
D. E. C. Infrastructure and Projects    Proposed LT Bk     CRISIL A/Stable1810    Reaffirmed
India Pvt Ltd                           Loan Fac
DCS International Trading Co. - Delhi   Proposed LT Bk     CRISIL BB      80      Assigned
                                        Loan Fac
Dharam Stainless Steel Pvt Ltd          CC                 CRISIL         15      Assigned
                                                           BB-/Stable
Dharam Stainless Steel Pvt Ltd          Foreign Bill       CRISIL         25      Assigned
                                        Purchase           BB-/Stable
Dharam Stainless Steel Pvt Ltd          Proposed LT Bk     CRISIL         21.7    Assigned
                                        Loan Fac           BB-/Stable
Dharam Stainless Steel Pvt Ltd          TL                 CRISIL         10.3    Assigned
                                                           BB-/Stable
Dharamraj Contracts India Pvt Ltd       CC                 CRISIL D       160     Downgraded
                                                                                  from CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)
Dharmana Motors                         CC                 CRISIL         58      Migrated from
                                                           BB/Stable              CRISIL
                                                                                  B/Stable
(Issuer Not Cooperating)
Dr. Agarwals Eye Hospital Ltd           CC                 CRISIL         60      Assigned
                                                           A-/Stable
Dr. Agarwals Eye Hospital Ltd           Proposed LT Bk     CRISIL         290     Assigned
                                        Loan Fac           A-/Stable
Dr. Agarwals Health Care Ltd            TL                 CRISIL         200     Assigned
                                                           A-/Stable
Dr. Agarwals Health Care Ltd            CC                 CRISIL         50      Assigned
                                                           A-/Stable
Dr. Agarwals Health Care Ltd            Proposed LT Bk     CRISIL         2000    Assigned
                                        Loan Fac           A-/Stable
Evergreen Publications (India) Ltd      CC                 CRISIL         564     Reaffirmed
                                                           BBB-/Stable
Outlook revised from Negative
Evergreen Publications (India) Ltd      Proposed TL        CRISIL         17.9    Reaffirmed
                                                           BBB-/Stable
Outlook revised from Negative
Fresh Bowl Horticulture Pvt Ltd         CC                 CRISIL         30      Upgraded from
                                                           BB-/Stable             CRISIL
                                                                                  B+/Stable
Fresh Bowl Horticulture Pvt Ltd         Proposed LT Bk     CRISIL         22.8    Upgraded from
                                        Loan Fac           BB-/Stable             CRISIL
                                                                                  B+/Stable
Fresh Bowl Horticulture Pvt Ltd         TL                 CRISIL         127.2   Upgraded from
                                                           BB-/Stable             CRISIL
                                                                                  B+/Stable
Go Fashion (India) Pvt Ltd              CC                 CRISIL         200     Reaffirmed
                                                           BBB+/Positive
Outlook revised from Stable
Gupta Power Infrastructure Ltd          FB Fac             CRISIL         9900    Reaffirmed
                                                           A-/Stable
Gupta Power Infrastructure Ltd          Non-FBL            CRISIL         21800   Reaffirmed
                                                           A-/Stable
Gupta Power Infrastructure Ltd          Proposed FB Bk     CRISIL         1050    Reaffirmed
                                        Limits             A-/Stable
IM Gears Pvt Ltd                        CC                 CRISIL         204     Reaffirmed
                                                           A-/Stable
IM Gears Pvt Ltd                        Export Packing     CRISIL         120     Reaffirmed
                                        Credit             A-/Stable
IM Gears Pvt Ltd                        LT Loan            CRISIL         710     Reaffirmed
                                                           A-/Stable
IM Gears Pvt Ltd                        Standby Line of    CRISIL         25      Reaffirmed
                                        Credit             A-/Stable
Indian Hair Industries Pvt Ltd          WC Fac             CRISIL         250     Reaffirmed
                                                           BBB/Stable
Ipsum Medicare Pvt Ltd                  Proposed LT Bk     CRISIL D       30.5    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  B/Stable
(Issuer Not Cooperating)
Ipsum Medicare Pvt Ltd                  TL                 CRISIL D       89.5    Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
(Issuer Not Cooperating)
Jai Prakash and Sons                    CC                 CRISIL         15.5    Downgraded
                                                           BB-/Stable             from CRISIL
                                                                                  BB+/Stable
Jijau Constructions Road Builder Pvt LtdCC                 CRISIL         65      Reaffirmed
                                                           BBB-/Positive
Outlook revised from Stable
Jijau Constructions Road Builder Pvt LtdProposed BG        CRISIL         547.5   Reaffirmed
                                                           BBB-/Positive
Outlook revised from Stable
KMC Plastochem                          CC                 CRISIL D       40      Downgraded
                                                                                  from CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
KMC Plastochem                          Proposed LT Bk     CRISIL D       65      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
KMC Plastochem                          TL                 CRISIL D       45      Downgraded
                                                                                  from CRISIL
                                                                                  BB-/Stable
(Issuer Not Cooperating)
Medi Pharma Drug House                  CC                 CRISIL         525     Reaffirmed
                                                           BB+/Stable
Muthoot Homefin India Ltd               CC                 CRISIL         250     Reaffirmed
                                                           AA/Stable
Muthoot Homefin India Ltd               Proposed LT Bk     CRISIL         550     Reaffirmed
                                        Loan Fac           AA/Stable
Muthoot Homefin India Ltd               TL                 CRISIL         13700   Reaffirmed
                                                           AA/Stable
Muthoot Homefin India Ltd               WC Demand Loan     CRISIL         500     Reaffirmed
                                                           AA/Stable
Muthoot Homefin India Ltd               NCD                CRISIL                 Reaffirmed
                                                           AA/Stable
Nova Publications                       CC                 CRISIL         300     Reaffirmed
                                                           BBB-/Stable
Outlook revised from Negative
Nova Publications                       Proposed LT Bk     CRISIL         153     Reaffirmed
                                        Loan Fac           BBB-/Stable
Outlook revised from Negative
Nova Publications and Printers Pvt Ltd  CC                 CRISIL         120     Reaffirmed
                                                           BBB-/Stable
Outlook revised from Negative
Nova Publications and Printers Pvt Ltd  Proposed CC Limit  CRISIL         20      Reaffirmed
                                                           BBB-/Stable
Outlook revised from Negative
Nova Publications and Printers Pvt Ltd  Proposed LT Bk     CRISIL         16.5    Reaffirmed
                                        Loan Fac           BBB-/Stable
Outlook revised from Negative
Nova Publications and Printers Pvt Ltd  Standby LOC        CRISIL         30      Reaffirmed
                                                           BBB-/Stable
Outlook revised from Negative
Nova Publications and Printers Pvt Ltd  TL                 CRISIL         108.5   Reaffirmed
                                                           BBB-/Stable
Outlook revised from Negative
Panchshil Infrastructure Holdings Pvt   Overdraft          CRISIL         750     Reaffirmed
Ltd                                                        BBB/Stable
Panchshil Infrastructure Holdings Pvt   Project Loan       CRISIL         6100    Reaffirmed
Ltd                                                        BBB/Stable
Panchshil Infrastructure Holdings Pvt   Proposed LT Bk     CRISIL         500     Reaffirmed
Ltd                                     Loan Fac           BBB/Stable
Panchshil Infrastructure Holdings Pvt   WC Fac             CRISIL         70      Reaffirmed
Ltd                                                        BBB/Stable
Polaris Liquor Pvt Ltd                  CC                 CRISIL         450     Reaffirmed
                                                           BB+/Stable             and Withdrawn
Polaris Liquor Pvt Ltd                  Proposed CC Limit  CRISIL         250     Reaffirmed
                                                           BB+/Stable             and Withdrawn
RK Hair Products Pvt Ltd                CC                 CRISIL         100     Reaffirmed
                                                           BBB+/Stable
Roop Telsonic Ultrasonix Ltd            CC                 CRISIL         90      Reaffirmed
                                                           BB+/Stable
Sameera Agro Industries                 CC                 CRISIL         280     Reaffirmed
                                                           BB+/Stable
Sarat Chatterjee & Co. (Visakhapatnam)  BG                 CRISIL A       310     Reaffirmed
Pvt Ltd
Sarat Chatterjee & Co. (Visakhapatnam)  CC                 CRISIL A       600     Reaffirmed
Pvt Ltd
Sarat Chatterjee & Co. (Visakhapatnam)  LT Loan            CRISIL A       1665.3  Reaffirmed
Pvt Ltd
Sarat Chatterjee & Co. (Visakhapatnam)  Proposed LT Bk     CRISIL A       4.7     Reaffirmed
Pvt Ltd                                 Loan Fac
Shital Fibers Ltd                       CC                 CRISIL D       800     Downgraded
                                                                                  from CRISIL
                                                                                  BB+/Stable
Shital Fibers Ltd                       Rupee TL           CRISIL D       110     Downgraded
                                                                                  from CRISIL
                                                                                  BB+/Stable
Shivshakti Construction Co.             LT Loan            CRISIL BB      60.6    Reaffirmed
Shre Devaraja Agro Aseptic Industries   CC                 CRISIL         75      Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
Shre Devaraja Agro Aseptic Industries   Export Packing     CRISIL         150     Migrated from
                                        Credit             BB+/Stable             CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
SMR Modern Rice and Oil Mill            TL                 CRISIL         4.1     Assigned
                                                           BB-/Stable
SMR Modern Rice and Oil Mill            Proposed LT Bk     CRISIL         0.9     Assigned
                                        Loan Fac           BB-/Stable
SMR Modern Rice and Oil Mill            CC                 CRISIL         20      Assigned
                                                           BB-/Stable
SMR Modern Rice and Oil Mill            Key CC             CRISIL         30      Assigned
                                                           BB-/Stable
Sohan Dyechem Pvt Ltd                   CC                 CRISIL         60      Assigned
                                                           BB/Stable
Sohan Dyechem Pvt Ltd                   Proposed LT Bk     CRISIL         28.1    Assigned
                                        Loan Fac           BB/Stable
Sohan Dyechem Pvt Ltd                   TL                 CRISIL         11.9    Assigned
                                                           BB/Stable
Sri Devaraaja Agro Industries           CC                 CRISIL         190     Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
Sri Devaraaja Agro Industries           LT Loan            CRISIL         10      Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  B+/Stable
(Issuer Not Cooperating)
Sri Lakshmi Srinivasa Modern Rice Mill  CC                 CRISIL         450     Reaffirmed
                                                           BB+/Stable
Sri Lakshmi Srinivasa Modern Rice Mill  TL                 CRISIL         10      Reaffirmed
                                                           BB+/Stable
Sungracia Tiles Pvt Ltd                 BG                 CRISIL D       31      Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
(Issuer Not Cooperating)
Sungracia Tiles Pvt Ltd                 CC                 CRISIL D       150     Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
(Issuer Not Cooperating)
Sungracia Tiles Pvt Ltd                 Corporate Loan     CRISIL D       60      Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
(Issuer Not Cooperating)
Sungracia Tiles Pvt Ltd                 LOC                CRISIL D       20      Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
(Issuer Not Cooperating)
Sungracia Tiles Pvt Ltd                 Proposed LT Bk     CRISIL D       2.4     Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  B/Stable
(Issuer Not Cooperating)
Sungracia Tiles Pvt Ltd                 TL                 CRISIL D       67.9    Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
(Issuer Not Cooperating)
Ved Parkash and Sons                    CC                 CRISIL         60      Reaffirmed
                                                           BBB-/Stable
Outlook revised from Negative
Ved Parkash and Sons                    Proposed CC Limit  CRISIL         10      Reaffirmed
                                                           BBB-/Stable
Outlook revised from Negative
Ved Parkash and Sons                    Standby LOC        CRISIL         20      Reaffirmed
                                                           BBB-/Stable
Outlook revised from Negative
Versabyte Data Systems Pvt Ltd          CC                 CRISIL         55      Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Versabyte Data Systems Pvt Ltd          LT Loan            CRISIL         81      Migrated from
                                                           BB+/Stable             CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Versabyte Data Systems Pvt Ltd          Proposed LT Bk     CRISIL         5.7     Migrated from
                                        Loan Fac           BB+/Stable             CRISIL
                                                                                  BB+/Stable
(Issuer Not Cooperating)
Viltans Polyplast                       CC                 CRISIL         45
                                                           B-/Stable
(Issuer Not Cooperating)/Revised from CRISIL B-/Stable to CRISIL D and Simultaneously Revised to
CRISIL B-/Stable 
Vinpack India Pvt Ltd                   TL                 CRISIL         170     Downgraded
                                                           B+/Stable              from CRISIL
                                                                                  BB/Stable
--------------------------------------------------------------------------------------------
$: 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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