January 8, 2018 / 10:25 AM / a year ago

CRISIL ratings for Indian debt instruments-Jan 8

   Jan 8 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of January 5, 2018.


COMPANY                                 INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
A.T. Trade Overseas Pvt Ltd             LOC                CRISIL A3      1220    Reaffirmed
ALP Aeroflex India Pvt Ltd              BG                 CRISIL A3+     5       Reaffirmed
ALP Aeroflex India Pvt Ltd              Foreign Exchange   CRISIL A3+     10      Reaffirmed
                                        Forward
ALP Aeroflex India Pvt Ltd              Foreign LOC        CRISIL A3+     30      Reaffirmed
Ameet Enterprises                       LOC                CRISIL A3      350     Reaffirmed
APL Apollo Tubes Ltd                    LOC**              CRISIL A1+     300     Reaffirmed
**100% interchangeability between LC and bank guarantee up to Rs 20 crore
APL Apollo Tubes Ltd                    LOC**              CRISIL A1+     300     Reaffirmed
**100% interchangeability between LC and bank guarantee up to Rs 20 crore
APL Apollo Tubes Ltd                    CP (Enhanced from  CRISIL A1+     500     Reaffirmed
                                        Rs.300 Crore) 
Ascent e-Digit Solutions Pvt Ltd        BG                 CRISIL A4+     120     Reaffirmed
Ascent e-Digit Solutions Pvt Ltd        LOC                CRISIL A4+     10      Reaffirmed
Chola Textiles Pvt Ltd                  BG                 CRISIL A2      5.5     Reaffirmed
Chola Textiles Pvt Ltd                  LOC                CRISIL A2      20      Reaffirmed
Chola Textiles Pvt Ltd                  LOC & BG           CRISIL A2      12.8    -
Coastal Gujarat Power Ltd               BG*#               CRISIL A1+(SO) 2500    Reaffirmed
#One-way interchangeability from bank guarantee to Letter of Credit.*Guaranteed by Tata Power
Coastal Gujarat Power Ltd               Buyer`s Credit*    CRISIL A1+(SO) 22500   Reaffirmed
*Guaranteed by Tata Power
Coastal Gujarat Power Ltd               CP*                CRISIL A1+(SO) 300     Assigned
*Guaranteed by Tata Power
Coastal Gujarat Power Ltd               BG*#               CRISIL A1+(SO) 2500    Reaffirmed
*Guaranteed by Tata Power.#One-way interchangeability from bank guarantee to Letter of Credit

Coastal Gujarat Power Ltd               Buyer`s Credit*    CRISIL A1+(SO) 22500   Reaffirmed
*Guaranteed by Tata Power
Coastal Gujarat Power Ltd               CP*                Provisional    200
                                                           CRISIL A1+(SO)
                                                           (Assigned)^
*Guaranteed by Tata Power
Cotmac Industrial Trading Pvt Ltd       LOC & BG           CRISIL A4+     10      Assigned,
                                                                                  Suspension
                                                                                  revoked
Diana Buildwell Ltd                     BG                 CRISIL A3      200     Reaffirmed
Eleganz Interiors Pvt Ltd               BG                 CRISIL A3      210     Migrated from
                                                                                  CRISIL A4+
                                                                                  Issuer Not
                                                                                  Cooperating
Glorious Mediscience (India) Pvt Ltd    Foreign LOC        CRISIL A4+     25      Assigned
H.K. Enterprises                        LOC                CRISIL A3      700     Reaffirmed
Heritage Foods Ltd                      BG                 CRISIL A2+     73.4    Reaffirmed
Heritage Foods Ltd                      LOC                CRISIL A2+     51.6    Reaffirmed
Jayapriya Chit Funds Pvt Ltd            ST Loan            CRISIL A4      50      Assigned
JMP Securities Pvt Ltd                  BG                 CRISIL A4+     500     Reaffirmed
Jupiter Laminators Pvt Ltd              BG                 CRISIL A2      15      Assigned
KKR India Asset Finance Pvt Ltd         CP                 CRISIL A1+     500     Assigned
Pandian Textile Mills Pvt Ltd           BG                 CRISIL A2      2.3     Reaffirmed
Ramdev Industries Ltd                   Inland/Import LOC  CRISIL A4      20      Assigned
Rattan Steel Supply Co.                 Bill Discounting   CRISIL A4      2.5     Reaffirmed
Rattan Steel Supply Co.                 Proposed Bill      CRISIL A4      2.5     Assigned
                                        Discounting Fac
Salzer Magnet Wires Ltd                 BG                 CRISIL A4+     3       Reaffirmed
Salzer Magnet Wires Ltd                 LOC                CRISIL A4+     80      Reaffirmed
Seven Seas Distillery Pvt Ltd           BG                 CRISIL A4+     1.2     Reaffirmed
T.C. Spinners Pvt Ltd                   LOC                CRISIL A3      100     Reaffirmed
T.C. Spinners Pvt Ltd                   Packing Credit     CRISIL A3      50      Reaffirmed
Vadhi Steels Pvt Ltd                    BG                 CRISIL A4      2.5     Assigned


LONG TERM RATINGS:
-------------------
A.T. Trade Overseas Pvt Ltd             CC                 CRISIL BBB-    60      Reaffirmed
A.T. Trade Overseas Pvt Ltd             LOC                CRISIL BBB-    620     Reaffirmed
ALP Aeroflex India Pvt Ltd              CC                 CRISIL BBB     70      Reaffirmed
ALP Aeroflex India Pvt Ltd              Proposed LT Bk     CRISIL BBB     115     Reaffirmed
                                        Loan Fac
ALP Aeroflex India Pvt Ltd              Rupee TL           CRISIL BBB     20      Assigned
Ameet Enterprises                       CC                 CRISIL BBB-    100     Reaffirmed
APL Apollo Tubes Ltd                    CC*#%              CRISIL AA-     3840    Reaffirmed
*Interchangeable with vendor financing scheme up to Rs 130 crore, 
export packing credit up to Rs 16 crore, and foreign bill discounting up to Rs 24 crore
#One way changeable from cash credit to letter of credit (LC) up to Rs 100 crore
%Interchangeable with non-fund-based facilities up to Rs 214 crore 
APL Apollo Tubes Ltd                    Proposed LT Bk     CRISIL AA-     1950    Reaffirmed
                                        Loan Fac
APL Apollo Tubes Ltd                    WC Demand Loan^    CRISIL AA-     250     Reaffirmed
^Fully interchangeable with non-fund-based facilities
APL Apollo Tubes Ltd                    WC Fac##           CRISIL AA-     600     Reaffirmed
##Interchangeable with packing credit up to Rs 60 crore; inland letter of credit
 up to Rs 60 crore; and performa invoice discounting up to Rs 15 crore 
APL Apollo Tubes Ltd                    WC Fac^            CRISIL AA-     700     Reaffirmed
^Fully interchangeable with non-fund-based facilities
APL Apollo Tubes Ltd                    Proposed LT Bk     CRISIL AA-     1950    Reaffirmed
                                        Loan Fac
APL Apollo Tubes Ltd                    WC Demand Loan^    CRISIL AA-     250     Reaffirmed
^Fully interchangeable with non-fund-based facilities
APL Apollo Tubes Ltd                    WC Fac^            CRISIL AA-     700     Reaffirmed

^Fully interchangeable with non-fund-based facilities
APL Apollo Tubes Ltd                    NCD                CRISIL AA-     75      Reaffirmed
Ascent e-Digit Solutions Pvt Ltd        CC                 CRISIL BB      50      Reaffirmed
Chola Textiles Pvt Ltd                  CC                 CRISIL BBB+    200     Reaffirmed
Chola Textiles Pvt Ltd                  Proposed LT Bk     CRISIL BBB+    62.4    -
                                        Loan Fac
Coastal Gujarat Power Ltd               LT Loan            CRISIL A-      38642   Reaffirmed
Coastal Gujarat Power Ltd               LT Loan            CRISIL A-      38642   Reaffirmed
Coastal Gujarat Power Ltd               CC & WC demand     CRISIL AA-(SO) 5000    Reaffirmed
                                        loan*^
*Guaranteed by Tata Power
^ One-way interchangeability from cash credit to letter of credit/buyer s credit
Coastal Gujarat Power Ltd               CC & WC demand     CRISIL AA-(SO) 5000    Reaffirmed
                                        loan*^
*Guaranteed by Tata Power
^ One-way interchangeability from cash credit to letter of credit/buyer s credit
Cosmo Electro Industries Pvt Ltd        CC                 CRISIL BBB-    280     Reaffirmed
Cosmo Electro Industries Pvt Ltd        TL                 CRISIL BBB-    95      Reaffirmed
Cotmac Industrial Trading Pvt Ltd       CC                 CRISIL BB-     90      Assigned,
                                                                                  Suspension
                                                                                  revoked
Deedy Chemicals Pvt Ltd                 TL                 CRISIL BBB-    25      Assigned
Deedy Chemicals Pvt Ltd                 CC                 CRISIL BBB-    55      Assigned
Deedy Chemicals Pvt Ltd                 LT Loan            CRISIL BBB-    87.5    Assigned
Diana Buildwell Ltd                     TL                 CRISIL BBB-    1300    Reaffirmed
Eleganz Interiors Pvt Ltd               CC                 CRISIL BBB-    195     Migrated from
                                                                                  CRISIL BB+
                                                                                  Issuer Not
                                                                                  Cooperating
Friends Concast Ltd                     BG                                15      Withdrawal
Friends Concast Ltd                     CC                                30      Withdrawal
Friends Concast Ltd                     Proposed LT Bk                    30.3    Withdrawal
                                        Loan Fac
Friends Concast Ltd                     TL                                26.7    Withdrawal
Geo VPL Finance Pvt Ltd                 CC                 CRISIL BBB-    700     Reaffirmed
Geo VPL Finance Pvt Ltd                 Proposed LT Bk     CRISIL BBB-    150     Assigned
                                        Loan Fac
Gestamp Automotive Chennai Pvt Ltd      NCD                CRISIL BBB     275     Reaffirmed
Glorious Mediscience (India) Pvt Ltd    TL                 CRISIL BB      53.7    Assigned
Glorious Mediscience (India) Pvt Ltd    Overdraft          CRISIL BB      15      Assigned
Glorious Mediscience (India) Pvt Ltd    CC                 CRISIL BB      60      Assigned
H.K. Enterprises                        CC                 CRISIL BBB-    20      Reaffirmed
H.K. Enterprises                        LOC                CRISIL BBB-    630     Reaffirmed
Heritage Finlease Ltd                   CC                 CRISIL BB      160     Reaffirmed
Issuer Not Cooperating
Heritage Foods Ltd                      CC                 CRISIL A-      1000    Reaffirmed
Heritage Foods Ltd                      Rupee TL           CRISIL A-      2255    Reaffirmed
Heritage Nutrivet Ltd                   Rupee TL           CRISIL BBB     165     Assigned
Heritage Nutrivet Ltd                   CC                 CRISIL BBB     80      Assigned
Heritage Nutrivet Ltd                   Proposed LT Bk     CRISIL BBB     105     Assigned
                                        Loan Fac
Jayapriya Chit Funds Pvt Ltd            Overdraft          CRISIL B+      120     Reaffirmed
Jayapriya Chit Funds Pvt Ltd            Proposed LT Bk     CRISIL B+      50      Reaffirmed
                                        Loan Fac
Jupiter Laminators Pvt Ltd              LT Loan            CRISIL BBB+    475     Assigned
Jupiter Laminators Pvt Ltd              CC                 CRISIL BBB+    610     Assigned
Kamarajar Port Ltd                      LT Loan            CRISIL AA      6500    Assigned
Kamarajar Port Ltd                      Tax-Free Bond*     CRISIL AA      94.65   Reaffirmed
*Guaranteed by Tata Power.(Reduced from Rs.1000 Crore)
Kamarajar Port Ltd                      LT Loan            CRISIL AA      650     -
KKR India Asset Finance Pvt Ltd         Proposed LT Bk     CRISIL AA      12000   Reaffirmed
                                        Loan Fac
KKR India Asset Finance Pvt Ltd         Proposed LT Bk     CRISIL AA      12000   Assigned
                                        Loan Fac
Nova Agri Tech Pvt Ltd                  CC                 CRISIL BB-     240     Reaffirmed
Nova Agri Tech Pvt Ltd                  LT Loan            CRISIL BB-     15      Reaffirmed
Nova Agri Tech Pvt Ltd                  Proposed CC Limit  CRISIL BB-     10      Reaffirmed
Nova Agri Tech Pvt Ltd                  Proposed LT Bk     CRISIL BB-     5       Reaffirmed
                                        Loan Fac
Ocean Lifespaces India Pvt Ltd          Corporate Credit   CCR BBB+               Reaffirmed
                                        Rating
Pandian Textile Mills Pvt Ltd           CC                 CRISIL BBB+    210     Reaffirmed
Pandian Textile Mills Pvt Ltd           Proposed LT Bk     CRISIL BBB+    67.7    Assigned
                                        Loan Fac
Phalada Agro Research Foundations Pvt   CC                 CRISIL BB+     75      Reaffirmed
Ltd
Phalada Agro Research Foundations Pvt   Export Packing     CRISIL BB+     57.5    Reaffirmed
Ltd                                     Credit
Phalada Agro Research Foundations Pvt   LT Loan            CRISIL BB+     87.5    Reaffirmed
Ltd
Raj Vehicles Mohali                     CC                 CRISIL BB      100     Upgraded from
                                                                                  CRISIL BB-
Raj Vehicles Mohali                     Inventory Funding  CRISIL BB      30      Upgraded from
                                        Fac                                       CRISIL BB-
Ramdev Industries Ltd                   CC                 CRISIL B+      80      Assigned
Rattan Steel Supply Co.                 CC                 CRISIL B       110
Salzer Magnet Wires Ltd                 CC                 CRISIL BB      120     Reaffirmed
Sanaa Distributors India Pvt Ltd        Channel Financing  CRISIL B       100     Reaffirmed
Sanaa Distributors India Pvt Ltd        Drop Line          CRISIL B       20      Assigned
                                        Overdraft Fac
Seven Seas Distillery Pvt Ltd           CC                 CRISIL BB+     250     Assigned
Sisco Research Laboratories Pvt Ltd     BG                    -           1       Rating
                                                                                  reaffirmed
                                                                                  and Withdrawal
Sisco Research Laboratories Pvt Ltd     CC                    -           77.5    Rating
                                                                                  reaffirmed
                                                                                  and Withdrawal
Sisco Research Laboratories Pvt Ltd     Proposed LT Bk        -           20.3    Rating
                                        Loan Fac                                  reaffirmed
                                                                                  and Withdrawal
Sisco Research Laboratories Pvt Ltd     Rupee TL              -           32.8    Rating
                                                                                  reaffirmed
                                                                                  and Withdrawal
Sri Lakshmi Narayana Rice Mill          CC                 CRISIL B       172.5   Reaffirmed
Supreme Construction And Developers Pvt Overdraft          CRISIL BB      100     Assigned
Ltd
Supreme Construction And Developers Pvt TL                 CRISIL BB      150     Assigned
Ltd
T.C. Spinners Pvt Ltd                   CC                 CRISIL BBB-    380     Reaffirmed
T.C. Spinners Pvt Ltd                   Foreign LOC        CRISIL BBB-    40      Reaffirmed
T.C. Spinners Pvt Ltd                   LT Loan            CRISIL BBB-    360.4   Reaffirmed
T.C. Spinners Pvt Ltd                   Proposed LT Bk     CRISIL BBB-    69.6    Reaffirmed
                                        Loan Fac
T.C. Spinners Pvt Ltd                   Warehouse Receipts CRISIL BBB-    200     Reaffirmed
The Panchmahal District Co-Op. Milk     LT Loan            CRISIL AAA(SO) 2250    Reaffirmed
Producers Union Ltd
Trend Setters                           Bill Discounting   CRISIL D       40      Downgraded
                                                                                  from CRISIL
                                                                                  B-
Trend Setters                           Packing Credit     CRISIL D       35      Downgraded
                                                                                  from CRISIL
                                                                                  B-
Trend Setters                           Proposed LT Bk     CRISIL D       75      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  B-
Vadhi Steels Pvt Ltd                    TL                 CRISIL B-      26.5    Assigned
Vadhi Steels Pvt Ltd                    Proposed LT Bk     CRISIL B-      46      Assigned
                                        Loan Fac
Vadhi Steels Pvt Ltd                    CC                 CRISIL B-      25      Assigned
Vedic And Futuristic Edutech            TL                 CRISIL BB-     1000    Upgraded from
                                                                                  CRISIL B+
--------------------------------------------------------------------------------------------
$: 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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