June 6, 2018 / 3:34 AM / 16 days ago

CRISIL ratings for Indian debt instruments-Jun 6

    Jun 6 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of June 5, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Adapt Infra Pvt Ltd                     BG                 CRISIL A4+     10      Reaffirmed
Akriti Sales Corporation                BG                 CRISIL A4+     10      Reaffirmed
Avantel Ltd                             BG                 CRISIL A3      100     Reaffirmed
Avantel Ltd                             Inland/Import LOC  CRISIL A3      60      Reaffirmed
Dr. Lal Pathlabs Ltd                    BG                 CRISIL A1+     5       Reaffirmed
Indofil Industries Ltd                  LOC                CRISIL A1+     4359.7
Upgraded from 'CRISIL A1'
Indofil Industries Ltd                  CP Programme       CRISIL A1+     2000
Upgraded from 'CRISIL A1' ; (Enhanced from Rs.100 Crore) 
Jai Vardhman Khaniz Pvt Ltd             Export Packing     CRISIL A3      50      Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Koshambh Multitred Pvt Ltd              LOC                CRISIL A3+     100     Reaffirmed
Mentha and Allied Products Pvt Ltd      BG                 CRISIL A4+     0.2     Reaffirmed
Mentha and Allied Products Pvt Ltd      LOC                CRISIL A4+     8.4     Reaffirmed
ONGC Videsh Ltd                         Non-FBL            CRISIL A1+     13500   Reaffirmed
ONGC Videsh Ltd                         ST Loan            CRISIL A1+     13326   Reaffirmed
ONGC Videsh Ltd                         Non-FBL            CRISIL A1+     1999    Reaffirmed
Philips Lighting India Ltd              Non-FBL            CRISIL A1+     2800    Reaffirmed
Pilot Industries Ltd                    BG                 CRISIL A3+     50
Migrated from 'CRISIL A4+' Issuer Not Cooperating
Pilot Industries Ltd                    Inland/Import LOC  CRISIL A3+     20
Migrated from 'CRISIL A4+' Issuer Not Cooperating
Pilot Industries Ltd                    LOC                CRISIL A3+     180
Migrated from 'CRISIL A4+' Issuer Not Cooperating
Pilot Industries Ltd                    LOC Bill           CRISIL A3+     50
                                        Discounting
Migrated from 'CRISIL A4+' Issuer Not Cooperating
PNB Housing Finance Ltd                 CP Programme       CRISIL A1+     260000  Reaffirmed
(Enhanced from Rs.16000 Crore)
S.R. Ravishankar                        BG                 CRISIL A4+     16      Reaffirmed
Sanwar Mal Khetawat                     BG                 CRISIL A3+     490
Upgraded from 'CRISIL A3'
Sanwar Mal Khetawat                     Proposed ST Bk     CRISIL A3+     20
                                        Loan Fac
Upgraded from 'CRISIL A3'

LONG TERM RATINGS:
-------------------
Adapt Infra Pvt Ltd                     CC                 CRISIL BB-     90      Reaffirmed
Adapt Infra Pvt Ltd                     TL                 CRISIL BB-     10      Reaffirmed
Akriti Sales Corporation                CC                 CRISIL BB      267.5   Reaffirmed
Akriti Sales Corporation                Proposed CC Limit  CRISIL BB      72.5    Assigned
Avantel Ltd                             CC                 CRISIL BBB-    120     Reaffirmed
Bhambhani Shipping Ltd                  Rating             --
CRISIL is yet to receive adequate information
Binjrajka Value Steels Pvt Ltd          CC                 CRISIL BB+     250     Reaffirmed
Binjrajka Value Steels Pvt Ltd          TL                 CRISIL BB+     40      Assigned
Binjrajka Value Steels Pvt Ltd          Proposed LT Bk     CRISIL BB+     10      Assigned
                                        Loan Fac
Coastal Energy Enterprises              CC                 CRISIL BB      90      Reaffirmed
Coastal Energy Enterprises              Proposed WC Fac    CRISIL BB      10      Reaffirmed
Creative Infra and Construction         CC                 CRISIL BB-     60      Assigned
Dr. Lal Pathlabs Ltd                    CC                 CRISIL AA-     255     Reaffirmed
Dr. Lal Pathlabs Ltd                    Proposed LT Bk     CRISIL AA-     340     Reaffirmed
                                        Loan Fac
Dynamic Fine Paper Mill Pvt Ltd         TL                 CRISIL BB-     133.7   Assigned
Dynamic Fine Paper Mill Pvt Ltd         CC                 CRISIL BB-     75      Assigned
Dynamic Fine Paper Mill Pvt Ltd         Proposed FB Bk     CRISIL BB-     81.3    Assigned
                                        Limits
Gajanan Gangamai Industries LLP         Rating             --
CRISIL is yet to receive adequate information
Gajanan Industries Ltd                  Rating             --
CRISIL is yet to receive adequate information
Gajanan Oil Pvt Ltd                     Rating             --
CRISIL is yet to receive adequate information
Gajanan Solvex Ltd                      Rating             --
CRISIL is yet to receive adequate information
Indo Baijin Chemicals Pvt Ltd           External           CRISIL A       640
                                        Commercial
                                        Borrowings
Upgraded from 'CRISIL A-'
Indo Baijin Chemicals Pvt Ltd           Proposed LT Bk     CRISIL A       50
                                        Loan Fac
Upgraded from 'CRISIL A-'
Indo Baijin Chemicals Pvt Ltd           TL                 CRISIL A       960
Upgraded from 'CRISIL A-'
Indo Baijin Chemicals Pvt Ltd           WC Fac             CRISIL A       500     Assigned
Upgraded from 'CRISIL A-'
Indofil Industries Ltd                  CC                 CRISIL A+      5200
Upgraded from 'CRISIL A'
Indofil Industries Ltd                  Export Packing     CRISIL A+      800
                                        Credit
Upgraded from 'CRISIL A'
Indofil Industries Ltd                  Foreign Currency TLCRISIL A+      6570.3
Upgraded from 'CRISIL A'

Indofil Industries Ltd                  LT Loan            CRISIL A+      850
Upgraded from 'CRISIL A'
Jai Vardhman Khaniz Pvt Ltd             CC                 CRISIL BBB-    80      Reaffirmed
Jai Vardhman Khaniz Pvt Ltd             LT Loan            CRISIL BBB-    10      Reaffirmed
Koshambh Multitred Pvt Ltd              Foreign Bill       CRISIL BBB     330     Reaffirmed
                                        Purchase
Koshambh Multitred Pvt Ltd              TL                 CRISIL BBB     238.5   Reaffirmed
Mentha and Allied Products Pvt Ltd      CC                 CRISIL BB+     60      Reaffirmed
ONGC Videsh Ltd                         FB Fac             CRISIL AAA     500     Reaffirmed
ONGC Videsh Ltd                         Proposed LT Bk     CRISIL AAA     675     Reaffirmed
                                        Loan Fac
ONGC Videsh Ltd                         Bond               CRISIL AAA     3700    Reaffirmed
P G Industry Ltd                        Buyer`s Credit     CRISIL BB-     75      Reaffirmed
Continues on 'Rating Watch with Developing Implications'
P G Industry Ltd                        CC                 CRISIL BB-     150     Reaffirmed
Continues on 'Rating Watch with Developing Implications'
Philips Lighting India Ltd              FB Fac*            CRISIL AA      4530    Reaffirmed
*Interchangeable limit of Rs 448 crore with non-fund-based facilities
Pilot Industries Ltd                    CC                 CRISIL BBB     970
Migrated from 'CRISIL BB+' Issuer Not Cooperating
Pilot Industries Ltd                    CC & WC demand loanCRISIL BBB     200
Migrated from 'CRISIL BB+' Issuer Not Cooperating
Pilot Industries Ltd                    TL                 CRISIL BBB     650
Migrated from 'CRISIL BB+' Issuer Not Cooperating
PNB Housing Finance Ltd                 LT Loan            CRISIL AA+     29340   Reaffirmed
PNB Housing Finance Ltd                 Proposed LT Bk     CRISIL AA+     10660   Reaffirmed
                                        Loan Fac
PNB Housing Finance Ltd                 NCDs^              CRISIL AA+     57000   Reaffirmed
PNB Housing Finance Ltd                 Lower Tier II      CRISIL AA+     5000    Reaffirmed
                                        Bonds
PNB Housing Finance Ltd                 FD Programm        FAAA           145000  Reaffirmed
Priceless Overseas Ltd                  Buyer`s Credit     CRISIL BB-     49.5
Continues on 'Rating Watch with Developing Implications'
Priceless Overseas Ltd                  CC                 CRISIL BB-     75.5
Continues on 'Rating Watch with Developing Implications'
Rajchandra Agencies                     CC                 CRISIL BB-     175     Reaffirmed
S.R. Ravishankar                        Overdraft          CRISIL BB      10      Reaffirmed
Sancheti Ornaments Pvt Ltd              CC                 CRISIL D       180
Issuer Not Cooperating: Downgraded from 'CRISIL BB- Issuer Not Cooperating'
Sanwar Mal Khetawat                     CC                 CRISIL BBB     90
Upgraded from 'CRISIL BBB-'
Sujan Cooper Standard AVS Pvt Ltd       CC                 CRISIL BBB-    300     Reaffirmed
Sujan Cooper Standard AVS Pvt Ltd       Proposed LT Bk     CRISIL BBB-    43.2    Reaffirmed
                                        Loan Fac
Sujan Cooper Standard AVS Pvt Ltd       TL                 CRISIL BBB-    341.8   Reaffirmed
Tata Projects Ltd                       Rating             --
Ratings unaffected by operational issues in interest payment
Torero Corporation Pvt Ltd              CC                 CRISIL BB      35      Assigned
Torero Corporation Pvt Ltd              Foreign Bill       CRISIL BB      45      Assigned
                                        Purchase
V K Tyre India Ltd                      TL                 CRISIL B+      45      Assigned
V K Tyre India Ltd                      CC                 CRISIL B+      100     Assigned
V K Tyre India Ltd                      Proposed LT Bk     CRISIL B+      5       Assigned
                                        Loan Fac
Vision Parenteral Pvt Ltd               CC                 CRISIL D       8
Downgraded from 'CRISIL B'
Vision Parenteral Pvt Ltd               LT Bk Fac          CRISIL D       80
Downgraded from 'CRISIL B'

--------------------------------------------------------------------------------------------
$: 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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