June 6, 2019 / 9:14 AM / 5 months 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 4&5, 2019.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ankit Gems Pvt Ltd                      Foreign Exchange   CRISIL A2      100     Reaffirmed
                                        Forward
Ankit Gems Pvt Ltd                      Post Shipment      CRISIL A2      2145    Reaffirmed
                                        Credit
Ankit Gems Pvt Ltd                      Proposed Export    CRISIL A2      50      Reaffirmed
                                        Packing Credit
Coal India Ltd                          Foreign Exchange   CRISIL A1+     100     Reaffirmed
                                        Forward
Coal India Ltd                          LOC & BG^          CRISIL A1+     22900   Reaffirmed
^ Out of this Rs.1990 Crore is outside consortium non-fund based limits
Coal India Ltd                          ST Debt            CRISIL A1+     1500    Reaffirmed
Coastal Gujarat Power Ltd               CP*                CRISIL A1+     5000    Reaffirmed
*Guaranteed by Tata Power
Coastal Gujarat Power Ltd               BG*#               CRISIL A1+(SO) 2500    Reaffirmed
*Guaranteed by Tata Power/ #One-way interchangeability from bank guarantee to Letter of Credit
Coastal Gujarat Power Ltd               Buyer`s Credit*    CRISIL A1+(SO) 22500   Reaffirmed
*Guaranteed by Tata Power
Coastal Gujarat Power Ltd               ST Loan*           CRISIL A1+(SO) 3500    Reaffirmed
*Guaranteed by Tata Power
Dewan Housing Finance Corporation Ltd   CP                 CRISIL D       8500    Downgraded
                                                                                  from CRISIL
                                                                                  A4+
IKM Investors Pvt Ltd                   BG                 CRISIL A2      1350    Reaffirmed
Indian Railway Finance Corporation Ltd  ST Debt Programme@ CRISIL A1+     150000  Reaffirmed
@Total short-term bank borrowings and borrowings under the rated short-term debt programme not
to exceed Rs 15000 crore at any point in time.
Ind-Andhra Agro Products Pvt Ltd        Packing Credit     CRISIL D       380     Downgraded
                                                                                  from 'CRISIL
                                                                                  A4
Kirloskar Pneumatic Co. Ltd             LOC & BG           CRISIL A1+     4960    Reaffirmed
Kirloskar Pneumatic Co. Ltd             Proposed NFBL      CRISIL A1+     40      Reaffirmed
M/S M.P.Khaitan                         BG                 CRISIL A4+     600     Reaffirmed
Maithon Power Ltd                       CP                 CRISIL A1+     4500    Reaffirmed
Naaraayani Sons Pvt Ltd                 BG                 CRISIL A3+     230     Reaffirmed
National Bank For Agriculture and Rural CP                 CRISIL A1+     400000  Reaffirmed
Development
National Bank For Agriculture and Rural One-Year CDs       CRISIL A1+     100000  Reaffirmed
Development                             Programme
SNR Edatas Pvt Ltd                      BG                 CRISIL A4+     45      Assigned
Suncity Enterprises                     BG                 CRISIL A3      95      Assigned
Tata Power Renewable Energy Ltd         CP                 CRISIL A1+     25000   Reaffirmed
The Tata Power Co. Ltd                  LOC & BG#          CRISIL A1+     45600   Reaffirmed
#Fully Interchangeable with Letter of Credit, Buyers Credit, Short term loan, Purchase invoice
Discounting, Overdraft maximum upto Rs. 50 
The Tata Power Co. Ltd                  CP                 CRISIL A1+     70000   Reaffirmed
Ultracab (India) Ltd                    BG                 CRISIL A4+     10      Reaffirmed
Ultracab (India) Ltd                    LOC                CRISIL A4+     30      Reaffirmed
Ultracab (India) Ltd                    LOC Bill           CRISIL A4+     10      Reaffirmed
                                        Discounting
Vardhman Acrylics Ltd                   LOC^               CRISIL A1+     800     Reaffirmed
^Interchangeable with other non-fund Based Facilities


MEDIUM TERM RATINGS:
-------------------
National Bank For Agriculture and Rural FD Programme       FAAA           1000    Reaffirmed
Development
Transcorp International Ltd             FD                 FB+/Negative   150     -
(ISSUER NOT COOPERATING; Continues on 'Notice of Withdrawal')


LONG TERM RATINGS:
-------------------
Aakrati Infratech Pvt Ltd               Proposed LT Bk     CRISIL BB-     140     Assigned
                                        Loan Fac
Akbar Online Booking Company Pvt Ltd    CC                 CRISIL BB      150     Assigned
Ankit Gems Pvt Ltd                      Export Packing     CRISIL BBB+    2155    Reaffirmed
                                        Credit
Bholaram Education Society              BG                 CRISIL D       40      Assigned
Bholaram Education Society              Proposed FB Bk     CRISIL D       55      Assigned
                                        Limits
Bholaram Education Society              Rupee TL           CRISIL D       5       Assigned
Coal India Ltd                          Corporate Credit   CCR AAA        -       (Renewed &
                                        Rating                                    Reaffirmed)
Coal India Ltd                          CC & WC demand loanCRISIL AAA     2500    Reaffirmed
Coal India Ltd                          Proposed LT Bk     CRISIL AAA     30000   Reaffirmed
                                        Loan Fac
Coastal Gujarat Power Ltd               LT Loan            CRISIL A-      38642   Reaffirmed
Coastal Gujarat Power Ltd               CC & WC demand     CRISIL AA-(SO) 500     Reaffirmed
                                        loan*^
*Guaranteed by Tata Power/ ^ One-way interchangeability from cash credit to letter of
credit/buyer's credit
Dhanraj Cotton Industries - Mehsana     CC                 CRISIL B       50      Reaffirmed
Dhanraj Cotton Industries - Mehsana     TL                 CRISIL B       28.8    Reaffirmed
Dreisatz Mysolar24 Pvt Ltd              TL                 CRISIL AA-     720     Reaffirmed
FSN E-Commerce Ventures Pvt Ltd         CC                 Withdrawn      500     Withdrawn
(ISSUER NOT COOPERATING)
Ind-Andhra Agro Products Pvt Ltd        CC                 CRISIL D       30      Downgraded
                                                                                  from 'CRISIL
                                                                                  B-
Indian Railway Finance Corporation Ltd  LT Borrowing       CRISIL AAA     554710  Assigned
                                        Programme
Indian Railway Finance Corporation Ltd  LT Borrowing       CRISIL AAA     546400  Reaffirmed
                                        Programme
Indian Railway Finance Corporation Ltd  LT Borrowing       CRISIL AAA     400000  Reaffirmed
                                        Programme
Indian Railway Finance Corporation Ltd  NCDs               CRISIL AAA     616840  Reaffirmed
Indian Railway Finance Corporation Ltd  Bonds              CRISIL AAA     1342790 Reaffirmed

Jaipur Crafts Pvt Ltd                   Export Packing     CRISIL BBB-    130     Reaffirmed
                                        Credit
Jaipur Crafts Pvt Ltd                   Proposed LT Bk     CRISIL BBB-    70      Reaffirmed
                                        Loan Fac
Kirloskar Pneumatic Co. Ltd             CC                 CRISIL AA-     400     Reaffirmed
Kirloskar Pneumatic Co. Ltd             NCD                CRISIL AA-     750     Assigned
Line O Matic Graphic Industries         CC                 CRISIL BBB+    383     Reaffirmed
Line O Matic Graphic Industries         Proposed LT Bk     CRISIL BBB+    17      Reaffirmed
                                        Loan Fac
M/S M.P.Khaitan                         CC                 CRISIL BB+     205     Reaffirmed
Maithon Power Ltd                       FB Fac%            CRISIL AA-     650     Reaffirmed
%Interchangeable with non-fund based limit of Rs.6.00 Crores
Maithon Power Ltd                       FB Fac             CRISIL AA-     1750    Reaffirmed
Maithon Power Ltd                       Non-FBL^^          CRISIL AA-     1250    Reaffirmed
^^One way interchangeability to fund based limits to the extent of Rs.25 Crore
Maithon Power Ltd                       Non-FBL**          CRISIL AA-     3500    Reaffirmed
**Interchangeable with fund based limits to the extent of Rs.250 Crore
Maithon Power Ltd                       Proposed LT Bk     CRISIL AA-     1594    Reaffirmed
                                        Loan Fac
Maithon Power Ltd                       TL                 CRISIL AA-     10010   Reaffirmed
Maithon Power Ltd                       NCD                CRISIL         5000    Reaffirmed
                                                           AA-/Positive
MI Mysolar24 Pvt Ltd                    TL                 CRISIL AA-     720     Reaffirmed
Mukesh Industries Ltd                   Rating             -              -       -
(CRISIL is yet to receive adequate information)
Naaraayani Sons Pvt Ltd                 CC                 CRISIL BBB     170     Reaffirmed
Nandilath G-Mart                        CC                 CRISIL BB      600     Upgraded from
                                                                                  CRISIL BB-
Nandilath G-Mart                        LT Loan            CRISIL BB      50      Upgraded from
                                                                                  CRISIL BB-
National Bank For Agriculture and Rural LT Bk Fac          CRISIL AAA     300000  Reaffirmed
Development
National Bank For Agriculture and Rural Bonds              CRISIL AAA     100000  Assigned
Development
National Bank For Agriculture and Rural Bonds              CRISIL AAA     20000   Reaffirmed
Development
National Bank For Agriculture and Rural Bonds              CRISIL AAA     100000  Reaffirmed
Development
National Bank For Agriculture and Rural Bonds              CRISIL AAA     2050000 Reaffirmed
Development
National Bank For Agriculture and Rural Tax-Free Bonds     CRISIL AAA     50000   Reaffirmed
Development
Navkar Wheels                           CC                 CRISIL B+      41      Reaffirmed
Navkar Wheels                           Inventory Funding  CRISIL B+      10      Reaffirmed
                                        Fac
Navkar Wheels                           Rupee TL           CRISIL B+      49      Reaffirmed
New Aniket Packaging Industries Pvt Ltd CC                 CRISIL BB      25      Reaffirmed
New Aniket Packaging Industries Pvt Ltd Proposed LT Bk     CRISIL BB      15      Reaffirmed
                                        Loan Fac
New Aniket Packaging Industries Pvt Ltd Proposed TL        CRISIL BB      35      Reaffirmed
New Aniket Packaging Industries Pvt Ltd TL                 CRISIL BB      50      Reaffirmed
Orange Mamatkheda Wind Pvt Ltd          LT Loan            CRISIL BBB     6200    -
(Continues on 'Rating Watch with Developing Implications')
P. Rajagopal and R. Saravanan           Cash TL            CRISIL D       120     Downgraded
                                                                                  from CRISIL B
(ISSUER NOT COOPERATING)
Sarvam Charitable Trust                 Proposed LT Bk     CRISIL B       100     Assigned
                                        Loan Fac
SNR Edatas Pvt Ltd                      Proposed CC Limit  CRISIL BB+     50      Assigned
SNR Edatas Pvt Ltd                      Proposed BG        CRISIL BB+     55      Assigned
Suncity Enterprises                     Proposed BG        CRISIL BBB-    5       Assigned
Suncity Enterprises                     CC                 CRISIL BBB-    25      Assigned
Tata Power Renewable Energy Ltd         Proposed LT Bk     CRISIL AA-     2250    Reaffirmed
                                        Loan Fac
Tata Power Renewable Energy Ltd         TL                 CRISIL AA-     7500    Reaffirmed
Tata Power Renewable Energy Ltd         WC Fac*            CRISIL AA-     250     Reaffirmed
*Fully Interchangeable with Overdraft/Short Term Loan/Bank Guarantee/Standby Line of Credit
The Tata Power Co. Ltd                  CC & WC demand loanCRISIL AA-     19560   Reaffirmed
The Tata Power Co. Ltd                  Proposed CC Limit  CRISIL AA-     95.9    Reaffirmed
The Tata Power Co. Ltd                  Proposed LT Bk     CRISIL AA-     22450   Reaffirmed
                                        Loan Fac
The Tata Power Co. Ltd                  Rupee TL           CRISIL AA-     32405.6 Reaffirmed
The Tata Power Co. Ltd                  TL                 CRISIL AA-     46892   Reaffirmed
The Tata Power Co. Ltd                  Subordinated NCDs  CRISIL AA-     15000   Reaffirmed
The Tata Power Co. Ltd                  NCD                CRISIL AA-     10820   Reaffirmed
The Tata Power Co. Ltd                  NCD                CRISIL AA-     4820    Reaffirmed
The Tata Power Co. Ltd                  Perpetual NCD      CRISIL AA-     15000   Reaffirmed
The Tata Power Co. Ltd                  TL                 Withdrawn      6050    Assigned
Ultracab (India) Ltd                    CC                 CRISIL BB-     130     Reaffirmed
Ultracab (India) Ltd                    Proposed LT Bk     CRISIL BB-     10      Reaffirmed
                                        Loan Fac
Ultracab (India) Ltd                    TL                 CRISIL BB-     10      Reaffirmed
Vamani Overseas Pvt Ltd                 Export Packing     CRISIL BBB     700     Reaffirmed
                                        Credit
Vamani Overseas Pvt Ltd                 LT Loan            CRISIL BBB     50      Reaffirmed
Vamani Overseas Pvt Ltd                 Proposed FB Bk     CRISIL BBB     50      Reaffirmed
                                        Limits
Vardhman Acrylics Ltd                   CC                 CRISIL AA      100     Reaffirmed
Walwhan Renewable Energy Ltd            Buyer`s Credit     CRISIL AA-     2530    Reaffirmed
Walwhan Renewable Energy Ltd            TL                 CRISIL AA-     19470   Reaffirmed
Walwhan Solar MP Ltd                    Buyer`s Credit^    CRISIL AA-     200     Reaffirmed
^ Sub limit of term loan limit of Rs 20 crore
Walwhan Solar MP Ltd                    Rupee TL           CRISIL AA-     6350    Reaffirmed
Walwhan Wind RJ Ltd                     Rupee TL           CRISIL AA-(SO) 5870    Reaffirmed
--------------------------------------------------------------------------------------------
$: 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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