June 12, 2018 / 9:08 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Jun 12

   Jun 12 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 11, 2018.


COMPANY                                 INSTRUMENT         RATING        AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Afflatus International                  Packing Credit     CRISIL A4+     150     Downgraded
                                                                                  from CRISIL
                                                                                  A3
Apollo Tyres Ltd                        LOC^               CRISIL A1+     6000    Reaffirmed
^Interchangeable with bank guarantee/letter of undertaking or acceptances
 for buyer s credit/packing credit
Apollo Tyres Ltd                        CP                 CRISIL A1+     9000    Reaffirmed
Avani Dyechem Industries                BG                 CRISIL A4+     0.2     Upgraded from
                                                                                  CRISIL A4
Avani Dyechem Industries                Foreign            CRISIL A4+     10      Upgraded from
                                        Discounting Bill                          CRISIL A4
                                        Purchase
Avani Dyechem Industries                Inland/Import LOC  CRISIL A4+     6.5     Upgraded from
                                                                                  CRISIL A4
Avantel Ltd                             BG                 CRISIL A3      200     Reaffirmed
Avantel Ltd                             Inland/Import LOC  CRISIL A3      60      Reaffirmed
Chambal Fertilisers and Chemicals Ltd   BG                 CRISIL A1+     3000    Reaffirmed
Chambal Fertilisers and Chemicals Ltd   LOC & BG@          CRISIL A1+     10000   Reaffirmed
@ Letter of credit and bank guarantee limits are interchangeable
Chambal Fertilisers and Chemicals Ltd   Non-FBL            CRISIL A1+     28750   Reaffirmed
Chambal Fertilisers and Chemicals Ltd   CP                 CRISIL A1+     30000   Reaffirmed
(Enhanced from Rs.2500 Crore)
Christy Apparels                        Packing Credit     CRISIL A4+     50      Reaffirmed
CIM Tools Pvt Ltd                       Foreign            CRISIL A4+     140     Reaffirmed
                                        Discounting Bill
                                        Purchase
(Issuer Not Cooperating); Rating Migrated
CIM Tools Pvt Ltd                       Inland/Import LOC  CRISIL A4+     40      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Craft Int-Decor Pvt Ltd                 BG                 CRISIL A4      50      Reaffirmed
(Issuer Not Cooperating)
Fathima Engineering Company Pvt Ltd     BG                 CRISIL A4+     60      Upgraded from
                                                                                  CRISIL A4
Goodluck India Ltd                      BG                 CRISIL A3+     390     Reaffirmed
Goodluck India Ltd                      LOC                CRISIL A3+     704.9   Reaffirmed
Goodluck India Ltd                      CP                 CRISIL A3+     250     -
Hawk Granito Pvt Ltd                    BG                 CRISIL A4      41      Assigned
J Abdul Vahid                           BG                 CRISIL A4+     50      Reaffirmed
M B Rubber Pvt Ltd                      BG                 CRISIL A4+     160     Reaffirmed
M B Rubber Pvt Ltd                      LOC                CRISIL A4+     40      Reaffirmed
Malladi Drugs and Pharmaceuticals Ltd   Inland/Import LOC  CRISIL A2+     215     Reaffirmed
Malladi Drugs and Pharmaceuticals Ltd   Post Shipment      CRISIL A2+     102.5   Reaffirmed
                                        Credit
Maruti Chemicals Company                Inland/Import LOC  CRISIL A4      7.5     Reaffirmed
Migrated from CRISIL A4 (ISSUER NOT COOPERATING)
Musale Construction                     BG                 CRISIL A4      80      Reaffirmed
(Issuer Not Cooperating)
Natural Products Export Corporation Ltd Export Packing     CRISIL A4      92.5    Reaffirmed
                                        Credit
Migrated from CRISIL A4 (Issuer Not Cooperating)
Poly Medicure Ltd                       Non-FBL            CRISIL A1      490     Reaffirmed
S. B. Reshellers Pvt Ltd                BG                 CRISIL A4+     47.5    Reaffirmed
S. B. Reshellers Pvt Ltd                LOC                CRISIL A4+     10      Reaffirmed
S. B. Reshellers Pvt Ltd                Packing Credit     CRISIL A4+     50      Reaffirmed
Sepcon Systems Pvt Ltd                  BG                 CRISIL A4+     22.5    Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Shanti Devi Charitable Trust (Regd.)    BG                 CRISIL A4      135     Reaffirmed
(Issuer Not Cooperating)
Sunbond Ceramic Pvt Ltd                 BG                 CRISIL A4      10      Reaffirmed
Worldtech Industries Pvt Ltd            BG                 CRISIL A4      3       Assigned

MEDIUM TERM RATINGS:
-------------------
Chambal Fertilisers and Chemicals Ltd   FD Programme       FAA           -        Reaffirmed
S. B. Reshellers Pvt Ltd                FD                 FB+            100     Reaffirmed

LONG TERM RATINGS:
-------------------
A.R.R. Foods And Consumer Products Pvt  CC                 CRISIL BB      75      Reaffirmed
Ltd
(Issuer Not Cooperating)
Afflatus International                  Bill Discounting   CRISIL BB+     350     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Afflatus International                  Foreign LOC        CRISIL BB+     50      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Amit Rice and Gen. Mills                CC                 CRISIL B       65      Reaffirmed
Amit Rice and Gen. Mills                TL                 CRISIL B       15      Reaffirmed
Apollo Tyres Ltd                        LT Loan            -              500     Withdrawn
Apollo Tyres Ltd                        Proposed LT Bk     -              750     Withdrawn
                                        Loan Fac
Apollo Tyres Ltd                        CC**               CRISIL AA+     10000   Reaffirmed
**Interchangeable with working capital demand loan/foreign currency 
  non-repatriable(B)/buyer s credit/overdraft/foreign bill
  discounting/export bill receivables
Apollo Tyres Ltd                        NCD                CRISIL AA+     1000    Withdrawn
Apollo Tyres Ltd                        NCD                CRISIL AA+     4500    Reaffirmed
Apollo Tyres Ltd                        NCD                CRISIL AA+     3000    Reaffirmed
Apollo Tyres Ltd                        NCD                CRISIL AA+     3250    Reaffirmed
Avani Dyechem Industries                CC                 CRISIL BB-     40      Upgraded from
                                                                                  CRISIL B+
Avani Dyechem Industries                LT Loan            CRISIL BB-     4.8     Upgraded from
                                                                                  CRISIL B+
Avantel Ltd                             CC                 CRISIL BBB-    120     Reaffirmed
Axon Systems Pvt Ltd                    TL                 CRISIL BB+     150     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Balaji Machine Works Pvt Ltd            BG                 -              10      Withdrawn
(Issuer Not Cooperating); Migrated from CRISIL A4+ ; Rating Withdrawn
Balaji Machine Works Pvt Ltd            CC                 -              500     Withdrawn
(Issuer Not Cooperating); Migrated from CRISIL A4+ ; Rating Withdrawn
Balaji Machine Works Pvt Ltd            Rupee TL           -              20      Withdrawn
(Issuer Not Cooperating); Migrated from CRISIL A4+ ; Rating Withdrawn
Chambal Fertilisers and Chemicals Ltd   CC                 CRISIL AA-     10000   Reaffirmed
Chambal Fertilisers and Chemicals Ltd   External           CRISIL AA-     42073.9 Reaffirmed
                                        Commercial
                                        Borrowings^
^ Equivalent to USD 550 Mn @ 65.74 USD/INR rate
Chambal Fertilisers and Chemicals Ltd   FB Fac             CRISIL AA-     3000    Reaffirmed
Chambal Fertilisers and Chemicals Ltd   Rupee TL           CRISIL AA-     6411.7  Reaffirmed
Christy Apparels                        Bill Discounting   CRISIL BB      30      Upgraded from
                                                                                  CRISIL BB-
Christy Apparels                        CC                 CRISIL BB      10      Upgraded from
                                                                                  CRISIL BB-
Christy Apparels                        LT Loan            CRISIL BB      60      Upgraded from
                                                                                  CRISIL BB-
CIM Tools Pvt Ltd                       CC                 CRISIL BB+     20      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
CIM Tools Pvt Ltd                       External           CRISIL BB+     20      Reaffirmed
                                        Commercial
                                        Borrowings
(Issuer Not Cooperating); Rating Migrated
CIM Tools Pvt Ltd                       TL                 CRISIL BB+     26.3    Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Craft Int-Decor Pvt Ltd                 CC                 CRISIL B+      30      Reaffirmed
(Issuer Not Cooperating)
Craft Int-Decor Pvt Ltd                 Proposed LT Bk     CRISIL B+      35      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Devi Enterprises - Erode                CC                 CRISIL BB      50      Reaffirmed
(Issuer Not Cooperating)
Devi Enterprises - Erode                Proposed WC Fac    CRISIL BB      100     Reaffirmed
(Issuer Not Cooperating)
Electronic Applyances                   Overdraft          -              25      Withdrawn
(Issuer Not Cooperating)
Electronic Applyances                   Proposed LT Bk     -              75      Withdrawn
                                        Loan Fac
(Issuer Not Cooperating)
Fathima Engineering Company Pvt Ltd     CC                 CRISIL BB-     32      Upgraded from
                                                                                  CRISIL B+
Fathima Engineering Company Pvt Ltd     Proposed LT Bk     CRISIL BB-     58      Upgraded from
                                        Loan Fac                                  CRISIL B+
Gala Pulse Mill                         CC                 CRISIL BB-     200     Reaffirmed
(Issuer Not Cooperating)
Goel Coal Sizing Pvt Ltd                CC                 CRISIL BB-     90      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Goodluck India Ltd                      Bill Discounting   CRISIL BBB     65      Reaffirmed
Goodluck India Ltd                      CC                 CRISIL BBB     2915    Reaffirmed
Goodluck India Ltd                      LT Loan            CRISIL BBB     1493.4  Reaffirmed
Goodluck India Ltd                      Standby LOC        CRISIL BBB     100     Reaffirmed
Hawk Granito Pvt Ltd                    LT Loan            CRISIL B+      303.5   Assigned
Hawk Granito Pvt Ltd                    CC                 CRISIL B+      120     Assigned
J Abdul Vahid                           CC                 CRISIL BB-     140     Reaffirmed
J Abdul Vahid                           Proposed LT Bk     CRISIL BB-     60      Assigned
                                        Loan Fac
Keshav Cotton Industries                CC                 CRISIL B+      50      Upgraded from
                                                                                  CRISIL B
Keshav Cotton Industries                Proposed LT Bk     CRISIL B+      15.5    Upgraded from
                                        Loan Fac                                  CRISIL B
Keshav Cotton Industries                TL                 CRISIL B+      24.5    Upgraded from
                                                                                  CRISIL B
Krishna Vasudeva Foods And Derivatives  CC                 -              150     Withdrawn 
Pvt Ltd
(Issuer Not Cooperating)
Krishna Vasudeva Foods And Derivatives  LT Loan            -              12.5    Withdrawn 
Pvt Ltd
(Issuer Not Cooperating)
Lakshman Veer Steel Pvt Ltd             CC                 CRISIL BB-     90      Upgraded from
                                                                                  CRISIL B+
M B Rubber Pvt Ltd                      CC                 CRISIL BB-     100     Reaffirmed
M B Rubber Pvt Ltd                      Proposed BG        CRISIL BB-     7       Reaffirmed
Maa Kudargarhi Steels Pvt Ltd           CC                 CRISIL BB+     200     Reaffirmed
(Issuer Not Cooperating)
Maa Kudargarhi Steels Pvt Ltd           TL                 CRISIL BB+     100     Reaffirmed
(Issuer Not Cooperating)
Malladi Drugs and Pharmaceuticals Ltd   CC                 CRISIL A-      110     Reaffirmed
Malladi Drugs and Pharmaceuticals Ltd   Cash TL            CRISIL A-      368.2   Reaffirmed
Malladi Drugs and Pharmaceuticals Ltd   Export Packing     CRISIL A-      800     Reaffirmed
                                        Credit
Malladi Drugs and Pharmaceuticals Ltd   Proposed LT Bk     CRISIL A-      4.3     Reaffirmed
                                        Loan Fac
Manav Vikas Evam Sewa Sansthan          Proposed LT Bk     -              10      Withdrawn
                                        Loan Fac
Maruti Chemicals Company                CC                 CRISIL B+      45      -
Migrated from CRISIL B/(ISSUER NOT COOPERATING)
Maruti Chemicals Company                Proposed LT Bk     CRISIL B+      7.5     -
                                        Loan Fac
Migrated from CRISIL B/(ISSUER NOT COOPERATING)
Maruti Chemicals Company                TL                 CRISIL B+      5       -
Migrated from CRISIL B/(ISSUER NOT COOPERATING)
Mundhra Bullion Pvt Ltd                 Proposed WC Fac    -              150     Withdrawn
Mundhra Jewellers                       CC                 -              250     Withdrawn
Mundhra Jewellers                       Proposed LT Bk     -              150     Withdrawn
                                        Loan Fac
Mundhra Jewellers                       Proposed ST Bk     -              100     Withdrawn
                                        Loan Fac
Musale Construction                     CC                 CRISIL B+      75      Reaffirmed
(Issuer Not Cooperating)
Nijaguna Land Developers and Builders   CC                 CRISIL D       90      Reaffirmed
(Issuer Not Cooperating)
Orange Jaisalmer Wind Energy Pvt Ltd    CC                 CRISIL A-      72      Reaffirmed
Orange Jaisalmer Wind Energy Pvt Ltd    TL                 CRISIL A-      1358    Reaffirmed
Orange Mamatkheda Wind Pvt Ltd          LT Loan            CRISIL BBB     6200    Reaffirmed
Palsana Enviro Protection Ltd           TL                 CRISIL BB+     300
(ISSUER NOT COOPERATING); Migrated from CRISIL BBB-
Pee Kay Shuttering House                CC                 -              40      Withdrawn
(Issuer Not Cooperating)
Pee Kay Shuttering House                LT Loan            CRISIL B       75      Reaffirmed
(Issuer Not Cooperating)
Plazma Granito Pvt Ltd                  BG                 CRISIL D       25      Downgraded
                                                                                  from CRISIL B
Plazma Granito Pvt Ltd                  CC                 CRISIL D       70      Downgraded
                                                                                  from CRISIL B
Plazma Granito Pvt Ltd                  Proposed LT Bk     CRISIL D       15      Downgraded
                                        Loan Fac                                  from CRISIL B
Plazma Granito Pvt Ltd                  TL                 CRISIL D       200     Downgraded
                                                                                  from CRISIL B
Poly Medicure Ltd                       FB Fac             CRISIL A+      700     Reaffirmed
Poly Medicure Ltd                       LT Loan            CRISIL A+      1010    Reaffirmed
Ranga Weaves India Pvt Ltd              BG                 -              20.5    Withdrawn
(Issuer Not Cooperating)
Ranga Weaves India Pvt Ltd              CC                 -              167.5   Withdrawn
(Issuer Not Cooperating)
Ranga Weaves India Pvt Ltd              LT Loan            -              167     Withdrawn
(Issuer Not Cooperating)
Regency Nirman Ltd                      Overdraft          CRISIL BBB     189     Assigned
Assigned: Suspension Revoked
Regency Nirman Ltd                      TL                 CRISIL BBB     131     Assigned
Assigned: Suspension Revoked
RM Dairy Products LLP                   CC                 CRISIL B+      80      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
RM Dairy Products LLP                   TL                 CRISIL B+      149     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
S. B. Reshellers Pvt Ltd                CC                 CRISIL BB+     190.5   Reaffirmed
S. B. Reshellers Pvt Ltd                LT Loan            CRISIL BB+     162     Reaffirmed
Satyam Ispat (North East) Ltd           BG                 CRISIL D       5       Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Satyam Ispat (North East) Ltd           CC                 CRISIL D       209     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Satyam Ispat (North East) Ltd           LOC                CRISIL D       95      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Satyam Ispat (North East) Ltd           Proposed TL        CRISIL D       92      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Satyam Ispat (North East) Ltd           WC TL              CRISIL D       139     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Sepcon Systems Pvt Ltd                  CC                 CRISIL BB-     31      Migarted from
                                                                                  CRISIL
                                                                                  B/Stable 
(Issuer Not Cooperating)
Sepcon Systems Pvt Ltd                  Proposed LT Bk     CRISIL BB-     16.5    Migarted from
                                        Loan Fac                                  CRISIL
                                                                                  B/Stable 
(Issuer Not Cooperating)
Shanti Devi Charitable Trust (Regd.)    CC                 CRISIL B+      32      Reaffirmed
(Issuer Not Cooperating)
Shanti Devi Charitable Trust (Regd.)    TL                 CRISIL B+      950     Reaffirmed
(Issuer Not Cooperating)
Sindhujaa Residency                     Proposed LT Bk     CRISIL B+      50      Reaffirmed
                                        Loan Fac
(Issuer Not Cooperating)
Siyaram Impex Pvt Ltd                   CC                 CRISIL B       89.1    Upgraded from
                                                                                  CRISIL B-
Skycomm Electronics (India) Pvt Ltd     CC                 CRISIL BB-     100     Assigned
South Park Motor Pvt Ltd                Drop Line          CRISIL B+      100     Reaffirmed
                                        Overdraft Fac
(Issuer Not Cooperating); Rating Migrated
South Park Motor Pvt Ltd                Electronic Dealer  CRISIL B+      150     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
(Issuer Not Cooperating); Rating Migrated
Sree Bhaghyajyothi Agro Foods           CC                 CRISIL BB-     90      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Sree Bhaghyajyothi Agro Foods           Key CC             CRISIL BB-     45      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Sri Ramachandra Pooja Industries        CC                 CRISIL B+      50      Reaffirmed
(Issuer Not Cooperating)
Sri Satyanarayana Swamy Hatcharies      Proposed CC Limit  CRISIL B+      20      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Sri Satyanarayana Swamy Hatcharies      TL                 CRISIL B+      100     Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Srikara Packaging Pvt Ltd               CC                 CRISIL D       40      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Srikara Packaging Pvt Ltd               LT Loan            CRISIL D       50      Reaffirmed
(Issuer Not Cooperating); Rating Migrated
Sunbond Ceramic Pvt Ltd                 CC                 CRISIL B+      35      Reaffirmed
Sunbond Ceramic Pvt Ltd                 Proposed LT Bk     CRISIL B+      33      Reaffirmed
                                        Loan Fac
Sunbond Ceramic Pvt Ltd                 TL                 CRISIL B+      22      Reaffirmed
The Vision House                        CC                 -              51      Withdrawn
(Issuer Not Cooperating)
The Vision House                        Standby Line of    -              8       Withdrawn
                                        Credit
(Issuer Not Cooperating)
The Vision House                        TL                 -              25      Withdrawn
(Issuer Not Cooperating)
The Vision House                        TL                 CRISIL BB-     16      Reaffirmed
(Issuer Not Cooperating)
Torero Corporation Pvt Ltd              CC                 CRISIL BB      50      Reaffirmed
Torero Corporation Pvt Ltd              Foreign Bill       CRISIL BB      30      Reaffirmed
                                        Purchase
Triputi Enterprises Pvt Ltd             CC                 CRISIL BB-     100     Reaffirmed
(Issuer Not Cooperating)
Unisex Agencies                         BG                 -              30      Withdrawn
(Issuer Not Cooperating); Migrated from CRISIL A4 ; Rating Withdrawn
Unisex Agencies                         CC                 -              100     Withdrawn
(Issuer Not Cooperating); Migrated from CRISIL A4 ; Rating Withdrawn
Vivriti Laurent 002 2018 (Originator:   Series A1 PTCs     CRISIL A (SO)          Converted
Asirvad Microfinance Ltd)                                                         from
                                                                                  Provisional
                                                                                  Rating to
                                                                                  Final Rating
Worldtech Industries Pvt Ltd            TL                 CRISIL B-      41      Assigned
Worldtech Industries Pvt Ltd            Proposed LT Bk     CRISIL B-      7.5     Assigned
                                        Loan Fac
Worldtech Industries Pvt Ltd            CC                 CRISIL B-      20      Assigned
--------------------------------------------------------------------------------------------
$: 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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