June 13, 2019 / 5:47 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Jun 13

   Jun 13 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 12, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aditya Steel Rolling Mills Pvt Ltd      BG                 CRISIL D       90      Downgraded
                                                                                  from CRISIL A4
Amkap Marketing Pvt Ltd                 BG                 CRISIL A4+     20      Assigned
Digvijay Chemicals Ltd                  BG                 CRISIL A4+     10      Reaffirmed
Ganges Jute Pvt Ltd                     BG                 CRISIL A2+     200     Upgraded from
                                                                                  CRISIL A2
Ganges Jute Pvt Ltd                     LOC                CRISIL A2+     400     Upgraded from
                                                                                  CRISIL A2
HDFC Credila Financial Services Pvt Ltd CP                 CRISIL A1+     10000   Reaffirmed
Jyoti Cotspin Ltd                       LOC                CRISIL A4+     50      Reaffirmed
Kerry Indev Logistics Pvt Ltd           BG                 CRISIL A1      220     -
Kerry Indev Logistics Pvt Ltd           ST Loan            CRISIL A1      100     -
Kerry Indev Logistics Pvt Ltd           CP                 CRISIL A1      200     -
Nava Nirman Fabrication Pvt Ltd         BG                 CRISIL A4+     50      Reaffirmed
Patnaik Steels and Alloys Ltd           BG                 CRISIL A3      27.5    Upgraded from
                                                                                  CRISIL A4+
Popular Mega Motors India Pvt Ltd       BG                 CRISIL A3+     30      -
Prism Enterprises Pvt Ltd               BG                 CRISIL A4+     21.4    Reaffirmed
Prism Jewellery                         Proposed ST Bk     CRISIL A4+     16      Reaffirmed
                                        Loan Fac
Relcon Foundations Pvt Ltd              BG                 CRISIL A4      20      Reaffirmed
S. M. Shankarrao Mohite Patil S. S. K.  ST Loan            CRISIL A4      62.8    Reaffirmed
Ltd
Shah Brothers                           BG                 CRISIL A4+     40      -
Shah Brothers                           Packing Credit     CRISIL A4+     120     -
Shri Banke Bihari Polyfab Pvt Ltd       BG                 CRISIL A4+     10      Reaffirmed
Swati Energy and Projects Pvt Ltd       BG                 CRISIL A4      15      Reaffirmed
Swati Energy and Projects Pvt Ltd       Letter Of GuaranteeCRISIL A4      30      Reaffirmed
Tata Sky Broadband Pvt Ltd              LOC#               CRISIL A1+     650     Assigned
# Includes Rs 5 crore of Bank Guarantee as Sub-limit of Letter of Credit
Technocraft Industries India Ltd        BG                 CRISIL A1+     505.3   -
Technocraft Industries India Ltd        Foreign Exchange   CRISIL A1+     12.5    -
                                        Forward
Technocraft Industries India Ltd        LOC & BG           CRISIL A1+     100     -
Technocraft Industries India Ltd        Overdraft          CRISIL A1+     250     -
Technocraft Industries India Ltd        Packing Credit in  CRISIL A1+     550     -
                                        Foreign Currency%
% Fully Interchangeable with Export Packing Credit, Pre shipment/Post Shipment finance, Foreign
Bill Purchase /Discounting /Negotiation; Interchangeable with Letter of credit to the extent of
Rs. 20 crores; Interchangeable with Bank Guarantee (Financial/Performance) to the extent of Rs.
15 crores.
Technocraft Industries India Ltd        Packing Credit in  CRISIL A1+     220     -
                                        Foreign Currency
Technocraft Industries India Ltd        Post Shipment      CRISIL A1+     550     -
                                        Credit
Visual Technologies India Pvt Ltd       BG                 CRISIL A4+     70      Downgraded
                                                                                  from CRISIL A3
Visual Technologies India Pvt Ltd       LOC                CRISIL A4+     30      Downgraded
                                                                                  from CRISIL A3
Z. A. Sea Foods Pvt Ltd                 BG                 CRISIL A3      7       Reaffirmed
Z. A. Sea Foods Pvt Ltd                 FB Fac             CRISIL A3      40      Reaffirmed
Z. A. Sea Foods Pvt Ltd                 Packing Credit     CRISIL A3      154     Reaffirmed
Z. A. Sea Foods Pvt Ltd                 Standby Line of    CRISIL A3      28      Reaffirmed
                                        Credit
LONG TERM RATINGS:
-------------------
Aditya Steel Rolling Mills Pvt Ltd      CC                 CRISIL D       170     Downgraded
                                                                                  from CRISIL B-
Aditya Steel Rolling Mills Pvt Ltd      TL                 CRISIL D       10      Downgraded
                                                                                  from CRISIL B-
Aishwarya Infrastructure and Developers Overdraft          CRISIL B       100     Reaffirmed
Amkap Marketing Pvt Ltd                 CC                 CRISIL BB-     60      Assigned
Auto Centre                             CC                 CRISIL BB+     220     Upgraded from
                                                                                  CRISIL BB
BL Securitization Trust I Jan           Series A PTCs      CRISIL AAA (SO)-       -
2019
(Originator: Indiabulls Consumer
Finance Ltd)
(Converted from Provisional Rating to Final Rating)
Campus Student Communities Pvt Ltd      NCD                CRISIL BB-     300
Chittaranjan Multipurpose Heemghar Pvt  CC                 CRISIL B       66      Reaffirmed
Ltd
Chittaranjan Multipurpose Heemghar Pvt  TL                 CRISIL B       74      Reaffirmed
Ltd
Digvijay Chemicals Ltd                  CC                 CRISIL BB      60      Reaffirmed
Digvijay Chemicals Ltd                  Proposed LT Bk     CRISIL BB      20      Reaffirmed
                                        Loan Fac
DSP Investment Managers Pvt Ltd         DSP Low Duration   CRISIL A+mfs   -       Downgraded
                                        Fund                                      from CRISIL
                                                                                  AAmfs
Gagan Fibres Pvt Ltd                    CC                 CRISIL BB-     60      Reaffirmed
Ganges Jute Pvt Ltd                     CC                 CRISIL A-      200     Upgraded from
                                                                                  CRISIL BBB+
Ganges Jute Pvt Ltd                     Packing Credit     CRISIL A-      550     Upgraded from
                                                                                  CRISIL BBB+
Ganges Jute Pvt Ltd                     Proposed LT Bk     CRISIL A-      437.6   Upgraded from
                                        Loan Fac                                  CRISIL BBB+
Ganges Jute Pvt Ltd                     TL                 CRISIL A-      74      Upgraded from
                                                                                  CRISIL BBB+

HDFC Credila Financial Services Pvt Ltd NCD Issue          CRISIL AAA     1000    Assigned
HDFC Credila Financial Services Pvt Ltd NCD Issues         CRISIL AAA     15000   Reaffirmed
HDFC Credila Financial Services Pvt Ltd Subordinated Debt  CRISIL AAA     3500    Reaffirmed
                                        Issues
Jagannath Traders - Delhi               CC                 CRISIL D       100     Downgraded
                                                                                  from CRISIL B+
(Issuer Not Cooperating)
Jai Bhawani Trading Co.                 CC                 CRISIL B+      57      Reaffirmed
Jai Bhawani Trading Co.                 Proposed LT Bk     CRISIL B+      23      Reaffirmed
                                        Loan Fac
JBM Solar Power Pvt Ltd                 Rupee TL           CRISIL A-      700     Assigned
(Placed on 'Rating Watch with Developing Implications')
Jyoti Cotspin Ltd                       CC                 CRISIL BB+     40      Upgraded from
                                                                                  CRISIL BB
Jyoti Cotspin Ltd                       TL                 CRISIL BB+     70      Upgraded from
                                                                                  CRISIL BB
Jyoti Threads India Ltd                 CC                 CRISIL BB      99.8    Reaffirmed
Jyoti Threads India Ltd                 TL                 CRISIL BB      60.2    Reaffirmed
Kajuwalla                               CC & WC demand loanCRISIL D       100     Downgraded
                                                                                  from CRISIL B+
(Issuer Not Cooperating)
Kerry Indev Logistics Pvt Ltd           CC                 CRISIL A       880     -
Kerry Indev Logistics Pvt Ltd           LT Loan            CRISIL A       200     -
Nava Nirman Fabrication Pvt Ltd         CC                 CRISIL BB+     140     Reaffirmed
Nava Nirman Fabrication Pvt Ltd         Proposed CC Limit  CRISIL BB+     69.3    Reaffirmed
Nava Nirman Fabrication Pvt Ltd         TL                 CRISIL BB+     15.7    Reaffirmed
Orange Retail Finance India Pvt Ltd     Proposed LT Bk     CRISIL BBB-    600     Assigned
                                        Loan Fac
Patnaik Steels and Alloys Ltd           CC                 CRISIL BBB-    300     Upgraded from
                                                                                  CRISIL BB+
Patnaik Steels and Alloys Ltd           Proposed FB Bk     CRISIL BBB-    717.3   Upgraded from
                                        Limits                                    CRISIL BB+
Patnaik Steels and Alloys Ltd           TL                 CRISIL BBB-    342.7   Upgraded from
                                                                                  CRISIL BB+
Popular Mega Motors India Pvt Ltd       CC                 CRISIL BBB     105     -
Popular Mega Motors India Pvt Ltd       Channel Financing  CRISIL BBB     399     -
Popular Mega Motors India Pvt Ltd       Inventory Funding  CRISIL BBB     302     -
                                        Fac
Popular Mega Motors India Pvt Ltd       TL                 CRISIL BBB     50.5    -
Popular Mega Motors India Pvt Ltd       WC Fac             CRISIL BBB     50      -
Popular Vehicles and Services Ltd       CC                 CRISIL BBB     200     Reaffirmed
Popular Vehicles and Services Ltd       Inventory Funding  CRISIL BBB     2590    Reaffirmed
                                        Fac
Popular Vehicles and Services Ltd       LT Loan            CRISIL BBB     110     Reaffirmed
Prism Enterprises Pvt Ltd               CC                 CRISIL BB      1070    Upgraded from
                                                                                  CRISIL BB-
Prism Enterprises Pvt Ltd               Proposed CC Limit  CRISIL BB      8.6     Upgraded from
                                                                                  CRISIL BB-
Prism Jewellery                         CC                 CRISIL BB      134     Upgraded from
                                                                                  CRISIL BB-
Purno-Gouri Cold Storage Pvt Ltd        CC                 CRISIL B       50      Migrated from
                                                                                  CRISIL B
(Issuer Not Cooperating)
Purno-Gouri Cold Storage Pvt Ltd        Proposed LT Bk     CRISIL B       8.6     Migrated from
                                        Loan Fac                                  CRISIL B
(Issuer Not Cooperating)
Purno-Gouri Cold Storage Pvt Ltd        TL                 CRISIL B       31.4    Migrated from
                                                                                  CRISIL B
(Issuer Not Cooperating)
Purno-Gouri Cold Storage Pvt Ltd        WC Fac             CRISIL B       10      Migrated from
                                                                                  CRISIL B
(Issuer Not Cooperating)
Raipur Motor Engineering Works          CC                 CRISIL BB-     150     Downgraded
                                                                                  from CRISIL BB
Relcon Foundations Pvt Ltd              CC                 CRISIL B+      13.5    Reaffirmed
Relcon Foundations Pvt Ltd              Proposed CC Limit  CRISIL B+      20      Reaffirmed
Relcon Foundations Pvt Ltd              Proposed WC Fac    CRISIL B+      46.5    Reaffirmed
S. M. Shankarrao Mohite Patil S. S. K.  Bill Discounting   CRISIL C       224.7   Reaffirmed
Ltd
S. M. Shankarrao Mohite Patil S. S. K.  LT Loan            CRISIL C       310.4   Reaffirmed
Ltd
S. M. Shankarrao Mohite Patil S. S. K.  Medium TL          CRISIL C       364.8   Reaffirmed
Ltd
S. M. Shankarrao Mohite Patil S. S. K.  Proposed LT Bk     CRISIL C       37.3    Reaffirmed
Ltd                                     Loan Fac
S. M. Shankarrao Mohite Patil S. S. K.  Sugar Pledge CC    CRISIL C       3000    Reaffirmed
Ltd
Saravana Stores (Thanga Nagai Maligai)  CC                 CRISIL BBB-    900     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Saravana Stores (Thanga Nagai Maligai)  Proposed CC Limit  CRISIL BBB-    1100    Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Seawood Multiple Services LLP           Proposed TL        CRISIL B-      20      Upgraded from
                                                                                  CRISIL D
Seawood Multiple Services LLP           TL                 CRISIL B-      150     Upgraded from
                                                                                  CRISIL D
Shah Brothers                           CC                 CRISIL BB+     20      -
Shri Banke Bihari Polyfab Pvt Ltd       CC                 CRISIL BB      80      Reaffirmed
Shri Banke Bihari Polyfab Pvt Ltd       LT Loan            CRISIL BB      44.5    Reaffirmed
Shri Banke Bihari Polyfab Pvt Ltd       Proposed FB Bk     CRISIL BB      25.5    Reaffirmed
                                        Limits
Shri Vishnu Overseas Pvt Ltd            CC                 CRISIL D       550     -
(Issuer Not Cooperating)
Shri Vishnu Overseas Pvt Ltd            Export Packing     CRISIL D       200     -
                                        Credit
(Issuer Not Cooperating)
Shri Vishnu Overseas Pvt Ltd            Foreign Bill       CRISIL D       200     -
                                        Purchase
(Issuer Not Cooperating)
Shri Vishnu Overseas Pvt Ltd            Packing Credit     CRISIL D       300     -
(Issuer Not Cooperating)
Shubh Aluminium Pvt Ltd                 Line of Credit     CRISIL B-      140     Downgraded
                                                                                  from CRISIL B+
Star Iris Exports Pvt Ltd               Proposed LT Bk     CRISIL BB      67.5    Assigned
                                        Loan Fac
Star Iris Exports Pvt Ltd               Foreign Bill       CRISIL BB      30      Assigned
                                        Discounting
Star Iris Exports Pvt Ltd               CC                 CRISIL BB      92.5    Assigned
Star Iris Exports Pvt Ltd               Export Packing     CRISIL BB      30      Assigned
                                        Credit
Sun Shine Autos Pvt Ltd                 CC                 CRISIL BB      100     Reaffirmed
Supreme Sales                           CC                 CRISIL B+      96      Revised from
                                                                                  CRISIL BB
(Issuer Not Cooperating)
Swati Energy and Projects Pvt Ltd       CC                 CRISIL B+      50      Reaffirmed
Swati Energy and Projects Pvt Ltd       Proposed LT Bk     CRISIL B+      55      Reaffirmed
                                        Loan Fac
Tata Sky Broadband Pvt Ltd              TL^                CRISIL AA      1000    Assigned
^ Includes Rs 100 crore of Letter of Credit as Sub-limit of Term Loan
Tata Sky Broadband Pvt Ltd              Proposed LT Bk     CRISIL AA      8000    Assigned
                                        Loan Fac
Tata Sky Broadband Pvt Ltd              Overdraft*         CRISIL AA      350     Assigned
* Includes Rs 35 crore of Letter of Credit as Sub-limit of Overdraft facility.
Technocraft Industries India Ltd        Post Shipment      CRISIL A+      450     -
                                        Credit$
$ Fully Interchangeable with Working Capital Demand Loan, Pre shipment/Post Shipment finance,
Letter of credit, Cash Credit.
Technocraft Industries India Ltd        TL                 CRISIL A+      1435.4  -
Technocraft Industries India Ltd        TL##               CRISIL A+      846.8   -
## Fully interchangeable with Capex Letter of Credit
Technocraft Industries India Ltd        WC Fac@            CRISIL A+      400     -
@ Fully Interchangeable with Pre shipment/Post Shipment finance, Letter of credit, Bank
Guarantee (Financial/Performance), Cash Credit
Technocraft Industries India Ltd        WC Fac*            CRISIL A+      410     -
* Fully Interchangeable with Working Capital Demand Loan, Pre shipment/Post Shipment finance,
Letter of credit, Buyers Credit, Overdraft and Cash Credit
Technocraft Industries India Ltd        WC Fac#            CRISIL A+      800     -
# Fully Interchangeable with Working Capital Demand Loan, Pre shipment/Post Shipment finance,
Letter of credit, Buyers Credit, Cash Credit
Technocraft Industries India Ltd        WC Fac             CRISIL A+      2530    -
Venus Trust March 2019(Originator: HDB  Series A PTCs      CRISIL AAA (SO)-       -
Financial Services Ltd)
(Converted from Provisional Rating to Final Rating)
Visual Technologies India Pvt Ltd       CC                 CRISIL BB+     70      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Visual Technologies India Pvt Ltd       LT Loan            CRISIL BB+     50      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
World Gold Junction Pvt Ltd             CC                 CRISIL B+      200     Revised from
                                                                                  CRISIL BB-
(Issuer Not Cooperating)
Z. A. Sea Foods Pvt Ltd                 Proposed LT Bk     CRISIL BBB-    21      Reaffirmed
                                        Loan Fac
--------------------------------------------------------------------------------------------
$: 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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