March 12, 2018 / 4:48 AM / 5 months ago

CRISIL ratings for Indian debt instruments-Mar 12

    Mar 12 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of March 9, 2018.


COMPANY                               INSTRUMENT           RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                ----------           ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Axiom Propack Pvt Ltd                   BG                 CRISIL A2      20      Reaffirmed
Bharti Airtel Ltd                       CP                 CRISIL A1+     60000   Reaffirmed
CCI Logistics Ltd                       BG                 CRISIL A3+     50      Migrated
Issuer Not Cooperating
Coastal Consolidated Structures Pvt Ltd BG                 CRISIL A4      290     Reaffirmed
Elnova Pharma                           BG                 CRISIL A4+     25.3    Migrated from
                                                                                  CRISIL A3
Issuer Not Cooperating
Guala Closures (India) Pvt Ltd          BG                 CRISIL A2+     50      Reaffirmed
IndusInd Bank Ltd                       CDs (Enhanced from CRISIL A1+     400000  Reaffirmed
                                        Rs.25000 Crore) 
IndusInd Bank Ltd                       ST FD Programme    CRISIL A1+     -       Reaffirmed
KKR India Financial Services Pvt Ltd    CP                 CRISIL A1+     5000    Reaffirmed
Medi Sales (India) Pvt Ltd              BG                 CRISIL A3      8       Reaffirmed
                                                                                  and Withdrawal
Modtech Material Handling Projects Pvt  Proposed NFBL      CRISIL A4+     91      Assigned
Ltd
Modtech Material Handling Projects Pvt  LOC                CRISIL A4+     30      Assigned
Ltd
Modtech Material Handling Projects Pvt  BG                 CRISIL A4+     50      Assigned
Ltd
P.P. Telecell Marketing Pvt Ltd         Foreign LOC        CRISIL A4+     170
P.P. Telecell Marketing Pvt Ltd         Proposed LOC       CRISIL A4+     150
Signpost India Pvt Ltd                  BG^^^              CRISIL A3+     111.6   Assigned
^^^WCDL sublimit of bank guarantee to the extent of Rs 4.0 crore
Trishan Exports Pvt Ltd                 Foreign Bill       CRISIL A4      20
                                        Discounting
Trishan Exports Pvt Ltd                 LOC                CRISIL A4      80
Trishan Exports Pvt Ltd                 Packing Credit     CRISIL A4      50
Trishan Exports Pvt Ltd                 Proposed ST Bk     CRISIL A4      20
                                        Loan Fac
ZF Electronics Tvs India Pvt Ltd        BG                 CRISIL A4+     2       Upgraded from
                                                                                  CRISIL A4$
ZF Electronics Tvs India Pvt Ltd        LOC                CRISIL A4+     3       Upgraded from
                                                                                  CRISIL A4$
LONG TERM RATINGS:
-------------------
Axiom Propack Pvt Ltd                   LT Loan            CRISIL BBB+    480     Reaffirmed
Axiom Propack Pvt Ltd                   CC                 CRISIL BBB+    50      Reaffirmed
B. S. Innovations                       Bill Discounting   CRISIL D       25      Downgraded
                                                                                  from CRISIL B+
B. S. Innovations                       CC                 CRISIL D       20      Downgraded
                                                                                  from CRISIL B+
B. S. Innovations                       Export Packing     CRISIL D       30      Downgraded
                                        Credit                                    from CRISIL B+
B. S. Innovations                       Proposed WC Fac    CRISIL D       5       Downgraded
                                                                                  from CRISIL B+
B. S. Innovations                       Standby Line of    CRISIL D       10      Downgraded
                                        Credit                                    from CRISIL B+
Bharti Airtel Ltd                       Proposed LT Bk     CRISIL AA+     200000  Reaffirmed
                                        Loan Fac
Bharti Airtel Ltd                       NCD                CRISIL AA+     30000   Assigned
Bharti Airtel Ltd                       NCD                CRISIL AA+     2725    Reaffirmed
Bothe Windfarm Development Pvt Ltd      CC*                CRISIL BBB     250
*Interchangeable with Overdraft facility against receivables up to 180 days
Bothe Windfarm Development Pvt Ltd      Proposed LT Bk     CRISIL BBB     550
                                        Loan Fac
Bothe Windfarm Development Pvt Ltd      LT Loan            CRISIL BBB     10860
Bothe Windfarm Development Pvt Ltd      CC                 CRISIL BBB     700
CCI Logistics Ltd                       CC                 CRISIL BBB     200     Migrated
Issuer Not Cooperating
Coastal Consolidated Structures Pvt Ltd CC                 CRISIL B-      170     Reaffirmed
Elnova Pharma                           CC                 CRISIL BB+     20      Migrated from
                                                                                  CRISIL BBB-
Issuer Not Cooperating
Elnova Pharma                           Proposed LT Bk     CRISIL BB+     11.1    Migrated from
                                        Loan Fac                                  CRISIL BBB-
Issuer Not Cooperating
Elnova Pharma                           TL                 CRISIL BB+     47.6    Migrated from
                                                                                  CRISIL BBB-
Issuer Not Cooperating
Guala Closures (India) Pvt Ltd          CC                 CRISIL A-      400     Reaffirmed
IndusInd Bank Ltd                       Tier-I Bonds       CRISIL AA      10000   Reaffirmed
                                        (Under Basel III)
IndusInd Bank Ltd                       Crore Tier-I Bonds CRISIL AA      10000   Reaffirmed
                                        (Under Basel III)
IndusInd Bank Ltd                       Infrastructure     CRISIL AA+     15000   Reaffirmed
                                        Bond Issue
KKR India Financial Services Pvt Ltd    Overdraft#@        CRISIL AA+     993.8   Upgraded from
                                                                                  CRISIL AA
#Including sublimit of Rs 99.38 crore for working capital term loan
@original sanctioned amount  
KKR India Financial Services Pvt Ltd    Proposed LT Bk     CRISIL AA+     1506.2  Upgraded from
                                        Loan Fac                                  CRISIL AA
KKR India Financial Services Pvt Ltd    TL@                CRISIL AA+     21500   Upgraded from
                                                                                  CRISIL AA
@original sanctioned amount 
KKR India Financial Services Pvt Ltd    NCD                CRISIL AA+     5000    Upgraded from
                                                                                  CRISIL AA
KKR India Financial Services Pvt Ltd    NCD                CRISIL AA+     5000    Upgraded from
                                                                                  CRISIL AA
KKR India Financial Services Pvt Ltd    NCD                CRISIL AA+     2000    Upgraded from
                                                                                  CRISIL AA
KKR India Financial Services Pvt Ltd    NCD                CRISIL AA+     3500    Upgraded from
                                                                                  CRISIL AA
KKR India Financial Services Pvt Ltd    NCD                CRISIL AA+     2500    Upgraded from
                                                                                  CRISIL AA
KKR India Financial Services Pvt Ltd    NCD                CRISIL AA+     5000    Upgraded from
                                                                                  CRISIL AA
KKR India Financial Services Pvt Ltd    NCD                CRISIL AA+     5000    Upgraded from
                                                                                  CRISIL AA
Line O Matic Graphic Industries         CC                 CRISIL BBB+    200     Assigned;
                                                                                  Suspension
                                                                                  Revoked
Line O Matic Graphic Industries         Proposed LT Bk     CRISIL BBB+    200     Assigned;
                                        Loan Fac                                  Suspension
                                                                                  Revoked
Medi Sales (India) Pvt Ltd              CC                 CRISIL BBB-    80.7    Reaffirmed
                                                                                  and Withdrawal
Medi Sales (India) Pvt Ltd              Channel Financing  CRISIL BBB-    50      Reaffirmed
                                                                                  and Withdrawal
Medi Sales (India) Pvt Ltd              Proposed LT Bk     CRISIL BBB-    61.3    Reaffirmed
                                        Loan Fac                                  and Withdrawal
Mint Trust February 2018- (Originator:  Series A PTCs      Provisional    -       assigned
Satin Creditcare Network Ltd)                              CRISIL A- (SO)
Modtech Material Handling Projects Pvt  TL                 CRISIL BB+     6       Assigned
Ltd
Modtech Material Handling Projects Pvt  Proposed FB Bk     CRISIL BB+     10      Assigned
Ltd                                     Limits
Modtech Material Handling Projects Pvt  CC                 CRISIL BB+     13      Assigned
Ltd
P.P. Telecell Marketing Pvt Ltd         CC                 CRISIL BB      30
Signpost India Pvt Ltd                  WC Demand Loan     CRISIL BBB     30      Assigned
Signpost India Pvt Ltd                  TL^                CRISIL BBB     95      Assigned
^Fully interchangeable with capex letter of credit and sublimit of bank guarantee to the extent
of Rs 3.45 crore
Signpost India Pvt Ltd                  TL                 CRISIL BBB     267.5   Assigned
Signpost India Pvt Ltd                  Proposed LT Bk     CRISIL BBB     55.9    Assigned
                                        Loan Fac
Signpost India Pvt Ltd                  CC^^               CRISIL BBB     40      Assigned
^^Bank guarantee sublimit of cash credit to the extent of Rs 1.33 crore
Singh Cycle And Motor Co. Pvt Ltd       CC                 CRISIL D       10      Downgraded
                                                                                  from CRISIL B+
Singh Cycle And Motor Co. Pvt Ltd       Drop Line          CRISIL D       50      Downgraded
                                        Overdraft Fac                             from CRISIL B+
Singh Cycle And Motor Co. Pvt Ltd       Inventory Funding  CRISIL D       100     Downgraded
                                        Fac                                       from CRISIL B+
Star Global Multi Ventures Pvt Ltd      Warehouse Receipts CRISIL BB-     300     Assigned
Star Global Multi Ventures Pvt Ltd      CC                 CRISIL BB-     100     Assigned
Star Global Multi Ventures Pvt Ltd      Proposed LT Bk     CRISIL BB-     600     Assigned
                                        Loan Fac
Sterling Print House Pvt Ltd            Proposed WC Fac    CRISIL BB      7.5     Assigned
Sterling Print House Pvt Ltd            Proposed Overdraft CRISIL BB      7.5     Assigned
                                        Fac
Sterling Print House Pvt Ltd            Proposed LT Bk     CRISIL BB      15      Assigned
                                        Loan Fac
Sterling Print House Pvt Ltd            LT Loan            CRISIL BB      50      Assigned
Sterling Print House Pvt Ltd            Overdraft          CRISIL BB      20      Assigned
Ulhas Jewellers Pvt Ltd                 CC                 CRISIL BB      200     Reaffirmed
Ulhas Jewellers Pvt Ltd                 Proposed LT Bk     CRISIL BB      15.7    Reaffirmed
                                        Loan Fac
Ulhas Jewellers Pvt Ltd                 TL                 CRISIL BB      19.7    Reaffirmed
ZF Electronics Tvs India Pvt Ltd        CC                 CRISIL BB      45      Upgraded from
                                                                                  CRISIL B+$
ZF Electronics Tvs India Pvt Ltd        Export Packing     CRISIL BB      25      Upgraded from
                                        Credit                                    CRISIL B+$
ZF Electronics Tvs India Pvt Ltd        Proposed LT Bk     CRISIL BB      41      Upgraded from
                                        Loan Fac                                  CRISIL B+$
ZF Electronics Tvs India Pvt Ltd        Standby Line of    CRISIL BB      10      Upgraded from
                                        Credit                                    CRISIL B+$
ZF Electronics Tvs India Pvt Ltd        TL                 CRISIL BB      24      Upgraded from
                                                                                  CRISIL B+$
ZF Electronics Tvs India Pvt Ltd        WC TL              CRISIL BB      60      Upgraded 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)
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