June 4, 2019 / 6:44 AM / 3 months 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 3, 2019.


COMPANY                                 INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Alankar Real Estates Pvt Ltd            BG                 CRISIL A4      30      Assigned
Ankur Chemfood Ltd                      BG                 CRISIL A4+     50      Reaffirmed
Avendus Finance Pvt Ltd                 CP                 CRISIL A1+     1000    Reaffirmed
Axis Finance Ltd                        CP Programme(IPO   CRISIL A1+     40000   Reaffirmed
                                        Financing)
Axis Finance Ltd                        CP                 CRISIL A1+     60000   Reaffirmed
Grand Marine Foods                      LOC                CRISIL A4+     33      Reaffirmed
M. D. Esthappan Infrastructures Pvt Ltd BG                 CRISIL A4      40      Reaffirmed
M. D. Esthappan Infrastructures Pvt Ltd Overdraft          CRISIL A4      120     Reaffirmed
Popular Mega Motors India Pvt Ltd       BG                 CRISIL A3+     15      Upgraded from
                                                                                  CRISIL A3
Popular Mega Motors India Pvt Ltd       Cash Management    CRISIL A3+     40      Upgraded from
                                        Service                                   CRISIL A3
Safa Enterprises                        LOC                CRISIL A4+     46      Reaffirmed
Sai Indo Metal Resources Pvt Ltd        LOC                CRISIL A4      20      Reaffirmed
Sai Indo Metal Resources Pvt Ltd        Packing Credit in  CRISIL A4      20      Reaffirmed
                                        Foreign Currency

LONG TERM RATINGS:
-------------------
Afras Cashew Traders                    CC                 CRISIL BB-     90      Reaffirmed
Alankar Real Estates Pvt Ltd            CC                 CRISIL B+      55      Assigned
Ankur Chemfood Ltd                      CC                 CRISIL BB+     350     Upgraded from
                                                                                  CRISIL BB
Ankur Chemfood Ltd                      Proposed LT Bk     CRISIL BB+     106.7   Upgraded from
                                        Loan Fac                                  CRISIL BB
Avendus Finance Pvt Ltd                 CC                 CRISIL A+      250     Reaffirmed
Avendus Finance Pvt Ltd                 Proposed LT Bk     CRISIL A+      2300    Reaffirmed
                                        Loan Fac
Avendus Finance Pvt Ltd                 TL                 CRISIL A+      3300    Reaffirmed
Avendus Finance Pvt Ltd                 NCD                CRISIL A+      3500    Reaffirmed
Avendus Finance Pvt Ltd                 NCD                CRISIL A+      2000    Reaffirmed
Axis Finance Ltd                        NCD                CRISIL AAA     20000   Assigned
Axis Finance Ltd                        NCD                CRISIL AAA     20000   Reaffirmed
Axis Finance Ltd                        Subordinated Debt  CRISIL AAA     8000    Reaffirmed
Balaji Wires Pvt Ltd                    CC                 CRISIL A-      850     Upgraded from
                                                                                  CRISIL BBB+
Balaji Wires Pvt Ltd                    LT Loan            CRISIL A-      50      Upgraded from
                                                                                  CRISIL BBB+
Balaji Wires Pvt Ltd                    Packing Credit     CRISIL A-      70      Upgraded from
                                                                                  CRISIL BBB+
Bansal High Carbons Pvt Ltd             CC                 CRISIL A-      750     Upgraded from
                                                                                  CRISIL BBB+
Bansal High Carbons Pvt Ltd             Rupee TL           CRISIL A-      160     Upgraded from
                                                                                  CRISIL BBB+
Bansal Wire Industries Ltd              CC                 CRISIL A-      1900    Upgraded from
                                                                                  CRISIL BBB+
Bansal Wire Industries Ltd              Rupee TL           CRISIL A-      200     Upgraded from
                                                                                  CRISIL BBB+
Bharath Lajhna Multi State Housing      Corporate Credit   CCR B          -       Assigned
Co-operative Society Ltd                Rating
Bishambher Saran Vinod Kumar            TL                 CRISIL B       1       Assigned
Bishambher Saran Vinod Kumar            CC                 CRISIL B       97.5    Assigned
Bishambher Saran Vinod Kumar            Proposed FB Bk     CRISIL B       21.5    Assigned
                                        Limits
Grand Marine Foods                      Packing Credit     CRISIL BB      194     Upgraded from
                                                                                  CRISIL BB-
Jalan Jee Polytex Ltd                   CC                 CRISIL D       90      Downgraded
                                                                                  from CRISIL C
Jalan Jee Polytex Ltd                   LOC                CRISIL D       10      Downgraded
                                                                                  from CRISIL C
Krishna Cotton - Jamnagar               CC                 CRISIL B+      57.5    Reaffirmed
Krishna Cotton - Jamnagar               Proposed LT Bk     CRISIL B+      42.5    Reaffirmed
                                        Loan Fac
Nemcare Hospitals Pvt Ltd               TL                 CRISIL BB+     620     Assigned;
                                                                                  Suspension
                                                                                  Revoked
Orange Jaisalmer Wind Energy Pvt Ltd    CC                 CRISIL A-      72      Reaffirmed
Orange Jaisalmer Wind Energy Pvt Ltd    TL                 CRISIL A-      1358    Reaffirmed
P.S.K.Engineering Construction and Co.  BG                 -              350     Withdrawn
(Issuer Not Cooperating)
P.S.K.Engineering Construction and Co.  Overdraft          -              300     Withdrawn
(Issuer Not Cooperating)
P.S.K.Engineering Construction and Co.  TL                 -              10.4    Withdrawn
(Issuer Not Cooperating)
Penguin Electronics Ltd                 CC                 CRISIL BBB     165     Reaffirmed
Penguin Electronics Ltd                 Loan Against       CRISIL BBB     75      Reaffirmed
                                        Property
Penguin Electronics Ltd                 Proposed WC Fac    CRISIL BBB     70      Reaffirmed
Penguin Electronics Ltd                 TL                 CRISIL BBB     100     Reaffirmed
Popular Mega Motors India Pvt Ltd       CC                 CRISIL BBB     95      Upgraded from
                                                                                  CRISIL BBB-
Popular Mega Motors India Pvt Ltd       Channel Financing  CRISIL BBB     200     Upgraded from
                                                                                  CRISIL BBB-
Popular Mega Motors India Pvt Ltd       Electronic Dealer  CRISIL BBB     250     Upgraded from
                                        Financing                                 CRISIL BBB-
                                        Scheme(e-DFS)
Popular Mega Motors India Pvt Ltd       Inventory Funding  CRISIL BBB     205.2   Upgraded from
                                        Fac                                       CRISIL BBB-
Popular Mega Motors India Pvt Ltd       TL                 CRISIL BBB     31.3    Upgraded from
                                                                                  CRISIL BBB-
Popular Mega Motors India Pvt Ltd       WC Fac             CRISIL BBB     100     Upgraded from
                                                                                  CRISIL BBB-
Rajhans Ferrous Scrap Trade Pvt Ltd     CC                 CRISIL B+      50      Assigned
Rajhans Ferrous Scrap Trade Pvt Ltd     Proposed WC Fac    CRISIL B+      50      Assigned
Safa Enterprises                        Packing Credit     CRISIL BB      74      Upgraded from
                                                                                  CRISIL BB-
Sai Indo Metal Resources Pvt Ltd        Packing Credit     CRISIL B       80      Downgraded
                                        (pre-shipment                             from CRISIL B+
                                        credit)
Swagat Developers                       LT Loan            CRISIL B+      650     Reaffirmed
Swagat Developers                       Proposed LT Bk     CRISIL B+      118     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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