July 9, 2020 / 8:16 AM / a month ago

CRISIL ratings for Indian debt instruments-Jul 9

    Jul 9 - Below are the ratings awarded by Credit Rating Information Service of India (CRISIL)
for local debt instruments as of July 8, 2020.


COMPANY                                INSTRUMENT        RATING        AMOUNT MOVEMENT
                                                                      (RS.MLN)
------                                 ----------        ------        -----  ---------
SHORT TERM RATINGS:
-------------------
Akshar Precision Tubes Pvt Ltd         BG                CRISIL A3     120    Reaffirmed
Akshar Precision Tubes Pvt Ltd         LOC               CRISIL A3     10     Reaffirmed
Apex Tarmac Pvt Ltd                    BG                CRISIL A3+    1350   Reaffirmed
Bajaj Financial Securities Ltd         CP                CRISIL A1+    4000   Assigned
Baroque Pharmaceuticals Pvt Ltd        BG                CRISIL A3     15     Reaffirmed
JPW Infratech Pvt Ltd                  BG                CRISIL A4+    210    Reaffirmed
Khator Technical Textiles Ltd          BG                CRISIL A4     7      -
(Upgraded from 'CRISIL D')
Khator Technical Textiles Ltd          LOC               CRISIL A4     10     -
(Upgraded from 'CRISIL D')
Khator Technical Textiles Ltd          Packing Credit    CRISIL A4     20     -
(Upgraded from 'CRISIL D')
Limson Engineering Pvt Ltd             BG                CRISIL A4+    35     Reaffirmed
Limson Engineering Pvt Ltd             LOC               CRISIL A4+    15     Reaffirmed
Mangal Industries Ltd                  BG                CRISIL A1     35     Reaffirmed
Mangal Industries Ltd                  LOC               CRISIL A1     165    Reaffirmed
Oriental Export Corporation            BG                CRISIL A4+    5      Reaffirmed
Oriental Export Corporation            Foreign Bill      CRISIL A4+    150    Reaffirmed
                                       Discounting
Oriental Export Corporation            Inland/Import LOC CRISIL A4+    10     Reaffirmed
Oriental Export Corporation            Packing Credit    CRISIL A4+    135    Reaffirmed
Prathvi Infrastructure Pvt Ltd         BG                CRISIL A4+    30     Reaffirmed
Sati Granites India Pvt Ltd            Bill Discounting  CRISIL A4     45     Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Sati Granites India Pvt Ltd            Export Packing    CRISIL A4     30     Withdrawn
                                       Credit
(ISSUER NOT COOPERATING; Rating Withdrawn)
Sati Granites India Pvt Ltd            LOC               CRISIL A4     12.5   Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Sati Granites India Pvt Ltd            Proposed LT Bk    CRISIL A4     23.1   Withdrawn
                                       Loan Fac
(ISSUER NOT COOPERATING; Rating Withdrawn)
Sati Granites India Pvt Ltd            TL                CRISIL A4     72     Withdrawn
(ISSUER NOT COOPERATING; Rating Withdrawn)
Sintech Precision Products Ltd         BG                CRISIL A4+    45     Assigned
Sintech Precision Products Ltd         Packing Credit    CRISIL A4+    5      Assigned
Sintech Precision Products Ltd         LOC               CRISIL A4+    30     Assigned
Vijayasree Foods                       BG                CRISIL A4     100    Reaffirmed


LONG TERM RATINGS:
-------------------
Akshar Precision Tubes Pvt Ltd         Bill Discounting  CRISIL        10     Reaffirmed
                                                         BBB-/Stable
Akshar Precision Tubes Pvt Ltd         CC                CRISIL        60     Reaffirmed
                                                         BBB-/Stable
Alkaloids Corporation                  Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Apex Tarmac Pvt Ltd                    CC                CRISIL        300    Reaffirmed
                                                         BBB/Stable
Bajaj Financial Securities Ltd         Corporate Credit  CCR AAA/Stable-      Assigned
                                       Rating
Bajaj Financial Securities Ltd         Proposed LT Bk    CRISIL        6000   Assigned
                                       Loan Fac*         AAA/Stable
(*Interchangeable with short-term bank facilities)
Baroque Pharmaceuticals Pvt Ltd        CC*               CRISIL        120    Reaffirmed
                                                         BBB-/Stable
(*EPC/FBD/PCFC/EBR of Rs 12 crore is a sublimit of CC)
Baroque Pharmaceuticals Pvt Ltd        Proposed CC Limit CRISIL        20     Reaffirmed
                                                         BBB-/Stable
Baroque Pharmaceuticals Pvt Ltd        Proposed LT Bk    CRISIL        26.7   Reaffirmed
                                       Loan Fac          BBB-/Stable
Baroque Pharmaceuticals Pvt Ltd        TL                CRISIL        140.3  Reaffirmed
                                                         BBB-/Stable
Blue Autoworld Pvt Ltd                 CC                CRISIL        49     Assigned
                                                         B+/Stable
Blue Autoworld Pvt Ltd                 Proposed LT Bk    CRISIL        31     Assigned
                                       Loan Fac          B+/Stable
Cothas Coffee Co                       CC                CRISIL        90     Reaffirmed
                                                         BBB/Positive
Deccan Nutraceuticals Pvt Ltd          Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Formokem India Corporation             Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Global Ceramics Pvt Ltd                CC                CRISIL        150    -
                                                         BB/Stable
(Migrated from 'CRISIL B+/Stable ISSUER NOT COOPERATING')
HDB Financial Services Ltd             Venus Trust       CRISIL AAA    -      Final Rating
                                       2019
                                       -Series A PTCs
(Converted from Provisional Rating to Final Rating)
Interlink Foods Pvt Ltd                Rating Advisory   -             -      -
(CRISIL vide its publication dated June 30, 2020 highlighted the aspect of non-co-operation by
Interlink Foods Private Limited.)
JPW Infratech Pvt Ltd                  CC                CRISIL        75     Reaffirmed
                                                         BB+/Stable
Khator Technical Textiles Ltd          CC                CRISIL        30     -
                                                         B+/Stable
(Upgraded from 'CRISIL D')
Khator Technical Textiles Ltd          Proposed LT Bk    CRISIL        43     -
                                       Loan Fac          B+/Stable
(Upgraded from 'CRISIL D')
Khator Technical Textiles Ltd          TL                CRISIL        90     -
                                                         B+/Stable
(Upgraded from 'CRISIL D')
Limson Engineering Pvt Ltd             CC                CRISIL        45     Reaffirmed
                                                         BB-/Stable
Limson Engineering Pvt Ltd             TL                CRISIL        5      Reaffirmed
                                                         BB-/Stable
Mangal Industries Ltd                  CC                CRISIL        745    Reaffirmed
                                                         A/Stable
Mangal Industries Ltd                  Corporate Loan    CRISIL        200    Reaffirmed
                                                         A/Stable
Mangal Industries Ltd                  LT Loan           CRISIL        1900   Reaffirmed
                                                         A/Stable
Mangal Industries Ltd                  Proposed LT Bk    CRISIL        890    Reaffirmed
                                       Loan Fac          A/Stable
Mangal Industries Ltd                  Proposed WC Fac   CRISIL        255.1  Reaffirmed
                                                         A/Stable
Meenakshi Agro And Flour Mill Pvt Ltd  CC                CRISIL        230    Assigned
                                                         BBB-/Stable
Prathvi Infrastructure Pvt Ltd         Secured Overdraft CRISIL        50     Reaffirmed
                                       Fac               BB/Stable
Ramineni Agro Industries Pvt Ltd       CC                CRISIL        100    Reaffirmed
                                                         B+/Stable
Ramineni Agro Industries Pvt Ltd       Proposed LT Bk    CRISIL        25     Reaffirmed
                                       Loan Fac          B+/Stable
Reitz India Ltd                        BG                CRISIL        325    Withdrawn
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Rating Withdrawn)
Reitz India Ltd                        CC                CRISIL        70     Withdrawn
                                                         BB+/Stable
(ISSUER NOT COOPERATING; Rating Withdrawn)
Reitz India Ltd                        Proposed LT Bk    CRISIL        135    Withdrawn
                                       Loan Fac          BB+/Stable
(ISSUER NOT COOPERATING; Rating Withdrawn)
Shivalik Engineering Industries Ltd    Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Shivalik Power and Steel Pvt Ltd       Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Sintech Precision Products Ltd         Mortgage Loan Fac CRISIL        2.1    Assigned
                                                         BB-/Stable
Sintech Precision Products Ltd         WC Fac            CRISIL        12.5   Assigned
                                                         BB-/Stable
Sintech Precision Products Ltd         Foreign Bill      CRISIL        10     Assigned
                                       Discounting       BB-/Stable
Sintech Precision Products Ltd         CC                CRISIL        85     Assigned
                                                         BB-/Stable
Sintech Precision Products Ltd         TL                CRISIL        10.4   Assigned
                                                         BB-/Stable
Sri Adishankaracharya Cotton & Oil     CC                CRISIL        120    -
Mills Pvt Ltd                                            B+/Stable
(Upgraded from 'CRISIL B/Stable)
Sri Adishankaracharya Cotton & Oil     LT Loan           CRISIL        3      -
Mills Pvt Ltd                                            B+/Stable
(Upgraded from 'CRISIL B/Stable)
Sri Adishankaracharya Cotton & Oil     Proposed LT Bk    CRISIL        47     -
Mills Pvt Ltd                          Loan Fac          B+/Stable
(Upgraded from 'CRISIL B/Stable)
Sundyota Numandis Probioceuticals Pvt  CC                CRISIL        110    -
Ltd                                                      BBB-/Stable
(Upgraded from 'CRISIL BB+/Stable')
Sundyota Numandis Probioceuticals Pvt  TL                CRISIL        415    -
Ltd                                                      BBB-/Stable
(Upgraded from 'CRISIL BB+/Stable')
Trimurti Plant Sciences Pvt Ltd        Open CC           CRISIL        330    Assigned
                                                         BB+/Stable
U.B.Cotton Pvt Ltd                     Rating Advisory   -             -      -
(CRISIL is yet to receive adequate information from the company to enable it to undertake a
rating review)
Vijayasree Foods                       CC                CRISIL        50     Reaffirmed
                                                         B+/Stable
Vijayasree Foods                       Export Packing    CRISIL        50     Assigned
                                       Credit            B+/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@refinitiv.com)
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