July 10, 2020 / 7:52 AM / in a month

CRISIL ratings for Indian debt instruments-Jul 10

    Jul 10 - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of July 9, 2020.


COMPANY                                INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
Accord Vitrified Pvt Ltd               BG                CRISIL A4+    40     Reaffirmed
Bajaj Healthcare Ltd                   LOC               CRISIL A3+    265.5  Reaffirmed
Bajaj Healthcare Ltd                   Post Shipment     CRISIL A3+    300    Reaffirmed
                                       Credit
Classy Sanitarywares                   BG                CRISIL A4+    2.5    Reaffirmed
Gee Emm Overseas                     Pre Shipment Credit CRISIL A4+    90     Reaffirmed
Geofluid Processors Pvt Ltd            BG                CRISIL A4+    5      Reaffirmed
Geofluid Processors Pvt Ltd            LOC               CRISIL A4+    60     Reaffirmed
Interlace India Pvt Ltd                BG                CRISIL A4+    180    Reaffirmed
Kallam Agro Products And Oils Pvt Ltd  BG                CRISIL A4+    2.5    Reaffirmed
Nityarav Ceramic LLP                   BG                CRISIL A4     10     Reaffirmed
Q-7 Ceramic LLP                        BG                CRISIL A4     10     Reaffirmed
Samvardhana Motherson International Ltd CP               CRISIL A1+    4000   Reaffirmed
Shree Bhageshwari Papers Pvt Ltd       BG                CRISIL A4     65     Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Shree Bhageshwari Papers Pvt Ltd       CC                CRISIL A4     300    Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Shree Bhageshwari Papers Pvt Ltd       Foreign Exchange  CRISIL A4     5.8    Withdrawn
                                       Forward
(ISSUER NOT COOPERATING; Rating Withdrawn)
Shree Bhageshwari Papers Pvt Ltd       LOC               CRISIL A4     140    Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Shree Bhageshwari Papers Pvt Ltd       TL                CRISIL A4     89.2   Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
SMRC Automotive Products India Pvt Ltd BG                CRISIL A1+    440    Reaffirmed
Sovereign Metals Ltd                   Proposed ST Bk    CRISIL A4+    100    Assigned
                                       Loan Fac
SVN Agro Refineries                    LOC               CRISIL A4+    340    -
(Migrated from 'CRISIL A4 ISSUER NOT COOPERATING)


LONG TERM RATINGS:
-------------------
Accord Vitrified Pvt Ltd               CC                CRISIL        150    Reaffirmed
                                                         BB-/Stable
Accord Vitrified Pvt Ltd               TL                CRISIL        510    Reaffirmed
                                                         BB-/Stable
Aryan Granites and Monuments Pvt Ltd   Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Bajaj Healthcare Ltd                   Proposed TL       CRISIL        450    Reaffirmed
                                                         BBB/Positive
Bajaj Healthcare Ltd                   Proposed WC Fac   CRISIL        10     Reaffirmed
                                                         BBB/Positive
Bajaj Healthcare Ltd                   TL                CRISIL        544.5  Reaffirmed
                                                         BBB/Positive
Bajaj Healthcare Ltd                   WC Fac*           CRISIL        1050   Reaffirmed
                                                         BBB/Positive
(*Interchangeable between funded and non-fund based facilities)
Bhagwan Mahavir Education Foundation   Overdraft         CRISIL        200    Reaffirmed
                                                         BBB/Stable
Bhagwan Mahavir Education Foundation   Proposed LT Bk    CRISIL        43.8   Reaffirmed
                                       Loan Fac          BBB/Stable
Bhagwan Mahavir Education Foundation   TL                CRISIL        1756.2 Reaffirmed
                                                         BBB/Stable
Bhagwan Mahavir Education Foundation   WC Demand Loan    CRISIL        100    Reaffirmed
                                                         BBB/Stable
Casagrand Builder Pvt Ltd              Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Chromo Laboratories India Pvt Ltd      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Classy Sanitarywares                   CC                CRISIL        25     Reaffirmed
                                                         BB-/Stable
Classy Sanitarywares                   TL                CRISIL        39     Reaffirmed
                                                         BB-/Stable
Damson Technologies Pvt Ltd            CC                CRISIL D      100    -
(Downgraded from 'CRISIL B+/Stable')
Encardio Rite Electronics Pvt Ltd      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Eximcorp India Pvt Ltd                 CC                -             250    Withdrawn
Gee Emm Overseas                       WC Fac            CRISIL        10     Reaffirmed
                                                         BB-/Stable
Gensynth Laboratories Pvt Ltd          Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Geofluid Processors Pvt Ltd            CC                CRISIL        50     Reaffirmed
                                                         BB-/Stable
Goodwill Fabrics Pvt Ltd               Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Indiabulls Housing Finance Ltd         Innovation Trust  CRISIL AA (SO)$   -   Final Rating
                                       XXXVI FEB 20
                                       -Series A PTCs
($ Series A PTC investors are entitled to receive timely interest and timely principal.
Converted from Provisional Rating to Final Rating)
Interlace India Pvt Ltd                CC                CRISIL        110    Reaffirmed
                                                         BB+/Stable
Kallam Agro Products And Oils Pvt Ltd  CC                CRISIL        390    Reaffirmed
                                                         BB+/Stable
Kallam Agro Products And Oils Pvt Ltd  LT Loan           CRISIL        45     Reaffirmed
                                                         BB+/Stable

Kallam Agro Products And Oils Pvt Ltd  Proposed LT Bk    CRISIL        152.5  Reaffirmed
                                       Loan Fac          BB+/Stable
KKSPUN India Ltd                       Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
M.K.K. Metal Sections Pvt Ltd          Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
M.N.S. Metal and Profiles Pvt Ltd      Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Nityarav Ceramic LLP                   CC                CRISIL        40     Reaffirmed
                                                         B/Stable
Nityarav Ceramic LLP                   LT Loan           CRISIL        71.6   Reaffirmed
                                                         B/Stable
Nityarav Ceramic LLP                   Proposed CC Limit CRISIL        28.4   Reaffirmed
                                                         B/Stable
NYSE Infrastructure Pvt Ltd            LT Loan           -             1100   Withdrawn
Pillai and Sons Motor Company          Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Pravin Mohanlal                        CC                CRISIL        85     Reaffirmed
                                                         B+/Stable
Pravin Mohanlal                        Proposed LT Bk    CRISIL        15     Assigned
                                       Loan Fac          B+/Stable
Q-7 Ceramic LLP                        CC                CRISIL        35     Reaffirmed
                                                         B+/Stable
Q-7 Ceramic LLP                        Proposed LT Bk    CRISIL        34.7   Reaffirmed
                                       Loan Fac          B+/Stable
Q-7 Ceramic LLP                        TL                CRISIL        70.3   Reaffirmed
                                                         B+/Stable
Rubair Balloons India Pvt Ltd          CC                CRISIL        20     -
                                                         BB/Stable
(Downgraded from 'CRISIL BB+/Stable')
Rubair Balloons India Pvt Ltd          LT Loan           CRISIL        80     -
                                                         BB/Stable
(Downgraded from 'CRISIL BB+/Stable')
Samvardhana Motherson International Ltd NCD              CRISIL AA-    7000   -
(Placed on 'Rating Watch with Positive Implications')
Shreeya Peanuts Pvt Ltd                CC                CRISIL        150    Assigned
                                                         BB-/Stable
SMRC Automotive Products India Pvt Ltd CC*               CRISIL        200    Reaffirmed
                                                         AA-/Negative
(*Includes Rs 20 crore sublimit towards export credit, working capital demand loan, sales bills
discounting and Rs 5 crore sublimit towards letter of credit) 
SMRC Automotive Products India Pvt Ltd Proposed LT Bk    CRISIL        40     Reaffirmed
                                       Loan Fac          AA-/Negative
Sovereign Metals Ltd                   Standby LOC       CRISIL        1400   Assigned
                                                         BB/Stable
Sovereign Metals Ltd                   CC                CRISIL        500    Assigned
                                                         BB/Stable
Sovereign Metals Ltd                   Proposed LT Bk    CRISIL        800    Assigned
                                       Loan Fac          BB/Stable
STIC Travels Pvt Ltd                   Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Suchirindia Constructions Pvt Ltd      Proposed LT Bk    CRISIL        150    Assigned
                                       Loan Fac          B+/Stable
Supreme Parradise                      CC                CRISIL        60     Withdrawn
                                                         BB/Stable
(Rating reaffirmed and Withdrawn)
Supreme Parradise                      LT Loan           CRISIL        35     Withdrawn
                                                         BB/Stable
(Rating reaffirmed and Withdrawn)
SVN Agro Refineries                    CC                CRISIL        5      -
                                                         BB-/Stable
(Migrated from 'CRISIL B+/Stable ISSUER NOT COOPERATING')
SVN Agro Refineries                    Proposed CC Limit CRISIL        5      -
                                                         BB-/Stable
(Migrated from 'CRISIL B+/Stable ISSUER NOT COOPERATING')
Trivitron Healthcare Pvt Ltd           Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
TVS Sensing Solutions Pvt Ltd          Proposed LT Bk    CRISIL        60     Reaffirmed
                                       Loan Fac          BBB+/Stable
TVS Sensing Solutions Pvt Ltd          TL                CRISIL        105    Reaffirmed
                                                         BBB+/Stable
TVS Sensing Solutions Pvt Ltd          WC Fac*           CRISIL        100    Reaffirmed
                                                         BBB+/Stable
(*Including sub-limit of INR 2 Cr for Bank Guarantee & INR 2 Cr for LC)
--------------------------------------------------------------------------------------------
$: 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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