June 4, 2018 / 5:45 AM / 18 days ago

CRISIL ratings for Indian debt instruments-Jun 4

    Jun 4 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 1, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Apco Infratech Pvt Ltd                  LOC & BG           CRISIL A2+     17500   Reaffirmed
Biocon Ltd                              ST Bk Fac          CRISIL A1+     20      Reaffirmed
Biocon Ltd                              ST Debt            CRISIL A1+     200     Reaffirmed
Citicorp Finance India Ltd              ST Bk Fac          CRISIL A1+     5000    Assigned
Citicorp Finance India Ltd              ST Deposit         CRISIL A1+     20000   Assigned
Citicorp Finance India Ltd              ST Debt Programme  CRISIL A1+     10000   Reaffirmed
Citicorp Finance India Ltd              CP                 CRISIL A1+     40000   Reaffirmed
Finstone Granito Pvt Ltd                BG                 CRISIL D       26      Downgraded
                                                                                  from CRISIL A4
Gemstone Glass Pvt Ltd                  BG                 CRISIL A4+     20      Downgraded
                                                                                  from CRISIL A3
Gemstone Glass Pvt Ltd                  Packing Credit     CRISIL A4+     75      Downgraded
                                                                                  from CRISIL A3
IC Electricals Company Pvt Ltd          BG                 CRISIL A4+     120     Reaffirmed
India Infoline Finance Ltd              CP Issue^          CRISIL A1+     50000   Withdrawn
^Assigned for initial public offering financing on an episodic basis 
India Infoline Finance Ltd              CP                 CRISIL A1+     150000  Reaffirmed
(Enhanced from Rs.9000 Crore)
Indus Motor Company Pvt Ltd             BG                 CRISIL A3+     50      Reaffirmed
Lubrizol India Pvt Ltd                  LOC & BG           CRISIL A1+     130     Assigned
Nirmala Rice Pvt Ltd                    BG                 CRISIL A4      10      Reaffirmed
(Migrated from CRISIL A4 Issuer Not Cooperating)
PMR Farms                               Overdraft          CRISIL A4      30      Assigned
Shree Bharani Spinnings India Ltd       BG                 CRISIL D       2.5     Downgraded
                                                                                  from CRISIL A4
Shree Bharani Spinnings India Ltd       LOC                CRISIL D       25      Downgraded
                                                                                  from CRISIL A4
Saint-Gobain India Pvt Ltd              CP Programme       CRISIL A1+     1000    Reaffirmed
Studds Accessories Ltd                  Overdraft          CRISIL A2+     10      Assigned
VPR Constructions                       BG                 CRISIL D       38      Downgraded
                                                                                  from CRISIL A4
Vikas Ecotech Ltd                       LOC & BG           CRISIL A3+     410     Reaffirmed
(Continues on Rating Watch with Developing Implications)

LONG TERM RATINGS:
-------------------
Apco Infratech Pvt Ltd                  CC                 CRISIL A-      2500    Reaffirmed
Ashirvad Pipes Pvt Ltd                  CC*                CRISIL AA-     650     Upgraded from
                                                                                  CRISIL A+.
*Fully interchangeable with line of credit; foreign currency non-resident (B) loan,
 export packing credit/packing credit in foreign currency (EPC/PCFC), inland bills 
 purchased/discounted, foreign bills purchased/discounted/post-shipment credit in 
 foreign currency of Rs 7 crore; and buyers credit of Rs 30 crore
Ashirvad Pipes Pvt Ltd                  External           CRISIL AA-     379.3   Upgraded from
                                        Commercial                                CRISIL A+.
                                        Borrowings
Ashirvad Pipes Pvt Ltd                  TL                 CRISIL AA-     2337.9  Upgraded from
                                                                                  CRISIL A+.
Ashirvad Pipes Pvt Ltd                  WC Demand Loan     CRISIL AA-     1350    Upgraded from
                                                                                  CRISIL A+.
Ashoka Dhankuni Kharagpur Tollway Ltd   TL                 -              16087   Withdrawn
Auto Centre                             Channel Financing  CRISIL BB      50      Reaffirmed
Auto Centre                             Overdraft          CRISIL BB      150     Reaffirmed
Biocon Ltd                              WC Fac             CRISIL AA+     2480    Reaffirmed
Citicorp Finance India Ltd              LT Bk Fac          CRISIL AAA     2000    Reaffirmed
Citicorp Finance India Ltd              Proposed LT Bk     CRISIL AAA     2500    Assigned
                                        Loan Fac
Citicorp Finance India Ltd              NCD                CRISIL AAA     20000   Assigned
Citicorp Finance India Ltd              Commoptionally     CRISIL PP-MLD  3000    Reaffirmed
                                        convertible        AAAr
                                        debentureity Linked Debentures 
Citicorp Finance India Ltd              Equity-Linked      CRISIL PP-MLD          Reaffirmed
                                        Debentures         AAAr
(Aggregating Rs 16.45 Crore) 
Finstone Granito Pvt Ltd                CC                 CRISIL D       70      Downgraded
                                                                                  from CRISIL B
Finstone Granito Pvt Ltd                Medium TL          CRISIL D       210     Downgraded
                                                                                  from CRISIL B
Gemstone Glass Pvt Ltd                  CC                 CRISIL BB+     25      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Gemstone Glass Pvt Ltd                  Proposed LT Bk     CRISIL BB+     50      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
IC Electricals Company Pvt Ltd          CC                 CRISIL BB      180     Reaffirmed
India Infoline Finance Ltd              Subordinated Debt  CRISIL AA      10000   -
(Continues on Rating Watch with Developing Implications)
Indus Motor Company Pvt Ltd             CC                 CRISIL BBB     100     Reaffirmed
Indus Motor Company Pvt Ltd             Inventory Funding  CRISIL BBB     2540    Reaffirmed
                                        Fac
Indus Motor Company Pvt Ltd             LT Loan            CRISIL BBB     120     Reaffirmed
Indus Motor Company Pvt Ltd             WC Demand Loan     CRISIL BBB     250     Reaffirmed
Lubrizol India Pvt Ltd                  BG                 -              15      Withdrawn
Lubrizol India Pvt Ltd                  CC                 -              30      Withdrawn
Lubrizol India Pvt Ltd                  LOC                -              15      Withdrawn
Lubrizol India Pvt Ltd                  CC                 CRISIL AA-     30      Reaffirmed
Nirmala Rice Pvt Ltd                    CC                 CRISIL B       35      Reaffirmed
(Migrated from CRISIL B/Stable Issuer Not Cooperating)
Nirmala Rice Pvt Ltd                    TL                 CRISIL B       15      Reaffirmed
(Migrated from CRISIL B/Stable Issuer Not Cooperating)
PMR Farms                               TL                 CRISIL B       40.5    Assigned
PMR Farms                               Proposed LT Bk     CRISIL B       19.5    Assigned
                                        Loan Fac
Ram Shoes                               LT Loan            CRISIL BB+     32      Assigned
Ram Shoes                               Proposed LT Bk     CRISIL BB+     68      Assigned
                                        Loan Fac
Reitzel India Pvt Ltd                   BG                 -              2.5     Withdrawn
(Issuer Not Cooperating)
Reitzel India Pvt Ltd                   Export Packing     -              120     Withdrawn
                                        Credit
(Issuer Not Cooperating)
Reitzel India Pvt Ltd                   Foreign Bill       -              50      Withdrawn
                                        Discounting
(Issuer Not Cooperating)
Reitzel India Pvt Ltd                   LOC                -              67.5    Withdrawn
(Issuer Not Cooperating)
Reitzel India Pvt Ltd                   Proposed LT Bk     -              38.6    Withdrawn
                                        Loan Fac
(Issuer Not Cooperating)
Rose Metals                             CC                 CRISIL BB-     100     Reaffirmed
Samasta Microfinance Ltd                Proposed LT Bk     CRISIL A       5.3     Reaffirmed
                                        Loan Fac
(Continues on Rating Watch with Developing Implications)
Samasta Microfinance Ltd                TL                 CRISIL A       794.7   Reaffirmed
(Continues on Rating Watch with Developing Implications)
Samasta Microfinance Ltd                LT Principal       CRISIL PP-MLD  1500    Assigned
                                        Protected Market   Ar
                                        Linked Debentures
Shree Bharani Spinnings India Ltd       CC                 CRISIL D       52.5    Downgraded
                                                                                  from CRISIL C
Shree Bharani Spinnings India Ltd       LT Loan            CRISIL D       40      Downgraded
                                                                                  from CRISIL C
Studds Accessories Ltd                  LT Loan            CRISIL A-      480     Reaffirmed
United Industries Plastic Pvt Ltd       CC                 CRISIL BB      200     Reaffirmed
(Migrated from CRISIL BB/Stable Issuer Not Cooperating)
United Industries Plastic Pvt Ltd       LT Loan            CRISIL BB      210     Reaffirmed
(Migrated from CRISIL BB/Stable Issuer Not Cooperating)
United Industries Plastic Pvt Ltd       TL                 CRISIL BB      50      Assigned
(Migrated from CRISIL BB/Stable Issuer Not Cooperating)
Vikas Ecotech Ltd                       CC                 CRISIL BBB     560     Reaffirmed
(Continues on Rating Watch with Developing Implications)
Vikas Ecotech Ltd                       CC/ Overdraft Fac  CRISIL BBB     150     Reaffirmed
(Continues on Rating Watch with Developing Implications)
Vikas Ecotech Ltd                       Export Packing     CRISIL BBB     360     Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/
                                        Foreign Bill discounting
(Continues on Rating Watch with Developing Implications)
Vikas Ecotech Ltd                       TL                 CRISIL BBB     90      Reaffirmed
(Continues on Rating Watch with Developing Implications)
VPR Constructions                       Secured Overdraft  CRISIL D       120     Downgraded
                                        Fac                                       from CRISIL B-
ZNA Infra Pvt Ltd                       Proposed LT Bk     CRISIL B+      75      Assigned
                                        Loan Fac
ZNA Infra Pvt Ltd                       TL                 CRISIL B+      95      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)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below