March 12, 2019 / 4:40 AM / 3 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 11, 2019.


COMPANY                                INSTRUMENT          RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                 ----------          ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Bhargava Motors                         BG                 CRISIL A4+     50.5    Reaffirmed
Bhaskar Resources Pvt Ltd               BG                 CRISIL A4+     30      Reaffirmed
Churiwal Technopack Pvt Ltd             BG                 CRISIL A4      20      Reaffirmed
Craftsman Automation Ltd                BG                 CRISIL A2      200
Craftsman Automation Ltd                LOC                CRISIL A2      1000
Craftsman Automation Ltd                Packing Credit     CRISIL A2      600
Craftsman Automation Ltd                Proposed NFBL      CRISIL A2      495.2
Deepak Rugs                             Foreign Demand     CRISIL A4      30      Reaffirmed
                                        Bill Purchase
Deepak Rugs                             Packing Credit     CRISIL A4      55      Reaffirmed
DSR Sons India Engineers Pvt Ltd        BG                 CRISIL A4+     20      Assigned
Effective Teleservices Pvt Ltd          Standby LOC        CRISIL A4+     450     Reaffirmed
Farida Prime Tannery Pvt Ltd            LOC                CRISIL A3      150     Upgraded from
                                                                                  CRISIL A4+
Farida Prime Tannery Pvt Ltd            Standby Line of    CRISIL A3      50      Upgraded from
                                        Credit                                    CRISIL A4+
JCBL Ltd                                BG                 CRISIL A4      60      Upgraded from
                                                                                  CRISIL D
JCBL Ltd                                Foreign Exchange   CRISIL A4      20      Upgraded from
                                        Forward                                   CRISIL D
JCBL Ltd                                Inland/Import LOC* CRISIL A4      220     Upgraded from
                                                                                  CRISIL D
*Rs 5.00 crore interchangeable to CC limit 
JSR Infra Developers Pvt Ltd            BG                 CRISIL A4      60      Migrated from
                                                                                  CRISIL A4 and
                                                                                  Withdrawn
(Issuer Not Cooperating)
Manickavel Edible Oils Pvt Ltd          LOC                CRISIL A4+     3100    Assigned
Mutual Automotive Pvt Ltd               Sales Bill         CRISIL A1      150     Assigned
                                        Discounting
Mutual Automotive Pvt Ltd               LOC                CRISIL A1      70      Assigned
Namaste Exports Ltd                     LOC                CRISIL A4      15      Reaffirmed
National Export Industries              BG                 CRISIL A4      0.1     Reaffirmed
Nitco Logistics Pvt Ltd                 BG                 CRISIL A3+     10      Migrated from
                                                                                  CRISIL A3+
(Issuer Not Cooperating)
PallavaRED Granite Pvt Ltd              LOC                CRISIL D       10      Downgraded
                                                                                  from CRISIL A4
R D Engineers India Pvt Ltd             Letter Of GuaranteeCRISIL A4      125     Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
R D Engineers India Pvt Ltd             LOC                CRISIL A4      0.8     Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Rasi Electrodes Ltd                     ST Bk Fac          CRISIL A4+     15      Assigned;
                                                                                  Suspension
                                                                                  revoked
Rasi Electrodes Ltd                     LOC                CRISIL A4+     10      Assigned;
                                                                                  Suspension
                                                                                  revoked
Saboo Cylinders Pvt Ltd                 BG                 CRISIL A4+     30      Migrated from
                                                                                  CRISIL A3
(Issuer Not Cooperating)
Samrat Forgings Ltd                     BG                 CRISIL A4+     15      Upgraded from
                                                                                  CRISIL A4
Samrat Forgings Ltd                     LOC                CRISIL A4+     40      Upgraded from
                                                                                  CRISIL A4
Sudarshan Electrical Engg. Works        BG                 CRISIL D       140     Downgraded
                                                                                  from CRISIL A4
Singhal Engineering                     BG                 CRISIL A4+     14.2    Assigned
thyssenkrupp Industrial Solutions       LOC & BG           CRISIL A1      1810    Reaffirmed
(India) Pvt Ltd
Veljan Hydrair Ltd                      BG                 CRISIL A4+     280     Withdrawn
(Issuer Not Cooperating)
Veljan Hydrair Ltd                      LOC                CRISIL A4+     20      Withdrawn
(Issuer Not Cooperating)
Vinayak International Housewares Pvt LtdPacking Credit     CRISIL A4      110     Assigned
Vinayak International Housewares Pvt LtdForeign LOC        CRISIL A4      65      Assigned
Vishal Transformers and Switchgears Pvt Letter Of GuaranteeCRISIL A4+     100     Reaffirmed
Ltd
Zoloto Industries                       LOC                CRISIL A2      350     Migrated
(Issuer Not Cooperating)

LONG TERM RATINGS:
-------------------
AAA Roller Flour Mills Pvt Ltd          CC                 CRISIL BBB-    190     Assigned
Baba Bhuman Shah Ji Industries          CC                 CRISIL B+      90      Reaffirmed
Baba Bhuman Shah Ji Industries          TL                 CRISIL B+      13      Reaffirmed
Baba Bhuman Shah Ji Industries          Warehouse Receipts CRISIL B+      7       Reaffirmed
Bajrang Food Processing Industry        CC                 CRISIL B+      95      Reaffirmed
Bajrang Food Processing Industry        Proposed CC Limit  CRISIL B+      3.9     Reaffirmed
Bajrang Food Processing Industry        TL                 CRISIL B+      51.1    Reaffirmed
Beekay Auto Pvt Ltd                     Inventory Funding  CRISIL BBB     570     Reaffirmed
                                        Fac
Beekay Auto Pvt Ltd                     Proposed LT Bk     CRISIL BBB     30      Reaffirmed
                                        Loan Fac
Bhargava Motors                         CC                 CRISIL BB-     117.5   Reaffirmed
Bhargava Motors                         LT Loan            CRISIL BB-     2       Reaffirmed
Bhaskar Resources Pvt Ltd               CC                 CRISIL BB      40      Reaffirmed
Bijulee Tea Pvt Ltd                     CC                 CRISIL BB-     55      Reaffirmed
Bwda Finance Ltd                        Proposed LT Bk     CRISIL BB      1500    Assigned
                                        Loan Fac
Churiwal Technopack Pvt Ltd             CC                 CRISIL B+      200     Upgraded from
                                                                                  CRISIL B
Churiwal Technopack Pvt Ltd             Proposed LT Bk     CRISIL B+      17.7    Upgraded from
                                        Loan Fac                                  CRISIL B
Churiwal Technopack Pvt Ltd             TL                 CRISIL B+      12.3    Upgraded from
                                                                                  CRISIL B
Craftsman Automation Ltd                CC                 CRISIL BBB+    2000
Craftsman Automation Ltd                LT Loan            CRISIL BBB+    7974.2
Craftsman Automation Ltd                Proposed LT Bk     CRISIL BBB+    1314.7
                                        Loan Fac
Craftsman Automation Ltd                WC Demand Loan     CRISIL BBB+    750
DSR Sons India Engineers Pvt Ltd        LT Loan            CRISIL BB-     30      Assigned
DSR Sons India Engineers Pvt Ltd        CC                 CRISIL BB-     50      Assigned
Effective Teleservices Pvt Ltd          Overdraft          CRISIL BB+     434.4   Reaffirmed
Farida Prime Tannery Pvt Ltd            Corporate Loan     CRISIL BBB-    19.5    Upgraded from
                                                                                  CRISIL BB+
Farida Prime Tannery Pvt Ltd            Export Packing     CRISIL BBB-    135     Upgraded from
                                        Credit                                    CRISIL BB+
Farida Prime Tannery Pvt Ltd            Foreign Bill       CRISIL BBB-    95      Upgraded from
                                        Discounting                               CRISIL BB+
Farida Prime Tannery Pvt Ltd            Proposed LT Bk     CRISIL BBB-    45.5    Upgraded from
                                        Loan Fac                                  CRISIL BB+
Film Farm India Pvt Ltd                 CC                 CRISIL B+      80      Reaffirmed
Film Farm India Pvt Ltd                 LT Loan            CRISIL B+      3.6     Reaffirmed
Film Farm India Pvt Ltd                 Proposed LT Bk     CRISIL B+      16.4    Reaffirmed
                                        Loan Fac
Gaurav Bharti Shiksha Sansthan          TL                 CRISIL D       100     Reaffirmed
GMR Hyderabad International Airport Ltd Proposed WC Fac    CRISIL AA      1300    Reaffirmed
JCBL Ltd                                CC                 CRISIL B-      290     Upgraded from
                                                                                  CRISIL D
JCBL Ltd                                Corporate Loan     CRISIL B-      119.2   Upgraded from
                                                                                  CRISIL D
JCBL Ltd                                LT Loan            CRISIL B-      16.8    Upgraded from
                                                                                  CRISIL D
JCBL Ltd                                Rupee TL           CRISIL B-      150     Upgraded from
                                                                                  CRISIL D
JCBL Ltd                                Proposed LT Bk     CRISIL B-      224     Upgraded from
                                        Loan Fac                                  CRISIL D
JSR Infra Developers Pvt Ltd            CC                 CRISIL B       370     Migrated from
                                                                                  CRISIL B and
                                                                                  Withdrawn
(Issuer Not Cooperating)
JSR Infra Developers Pvt Ltd            Proposed LT Bk     CRISIL B       110     Migrated from
                                        Loan Fac                                  CRISIL B and
                                                                                  Withdrawn
(Issuer Not Cooperating)
Kataria Movers                          CC                 CRISIL BBB-    60      Reaffirmed
Kataria Movers                          LT Loan            CRISIL BBB-    90      Reaffirmed
Maadhav Automotive Fastners Pvt Ltd     CC                 CRISIL BB+     30      Reaffirmed
Maadhav Automotive Fastners Pvt Ltd     Proposed FB Bk     CRISIL BB+     8.4     Reaffirmed
                                        Limits
Maadhav Automotive Fastners Pvt Ltd     TL                 CRISIL BB+     41.6    Reaffirmed
Manickavel Edible Oils Pvt Ltd          CC                 CRISIL BB+     150     Assigned
Mutual Automotive Pvt Ltd               Proposed LT Bk     CRISIL A+      400     Assigned
                                        Loan Fac
Mutual Automotive Pvt Ltd               CC                 CRISIL A+      130     Assigned
Namaste Exports Ltd                     Export Packing     CRISIL B-      75      Downgraded
                                        Credit                                    from CRISIL B
Namaste Exports Ltd                     Foreign Bill       CRISIL B-      40      Downgraded
                                        Discounting                               from CRISIL B
National Export Industries              CC                 CRISIL B+      120     Upgraded from
                                                                                  CRISIL B
National Export Industries              Proposed LT Bk     CRISIL B+      13.5    Upgraded from
                                        Loan Fac                                  CRISIL B
Nitco Logistics Pvt Ltd                 CC                 CRISIL BBB     180     Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Nitco Logistics Pvt Ltd                 TL                 CRISIL BBB     20      Migrated from
                                                                                  CRISIL BBB
(Issuer Not Cooperating)
Northern Arc 2018 MFI                   Series A PTCs      CRISIL A- (SO) -
Deaton
(Originator: Belstar Investment
and Finance Pvt Ltd)
(Converted from Provisional Rating to Final Rating)
Pallava Granite Industries Chennai Pvt  BG                 CRISIL D       10      Downgraded
Ltd                                                                               from CRISIL C
(Issuer Not Cooperating)
Pallava Granite Industries Chennai Pvt  Export Packing     CRISIL D       40      Downgraded
Ltd                                     Credit                                    from CRISIL C
(Issuer Not Cooperating)
Pallava Granite Industries Chennai Pvt  LOC                CRISIL D       10      Downgraded
Ltd                                                                               from CRISIL C
(Issuer Not Cooperating)
Pallava Granite Industries Chennai Pvt  Proposed LT Bk     CRISIL D       20      Downgraded
Ltd                                     Loan Fac                                  from CRISIL C
(Issuer Not Cooperating)
Pallava Granite Industries India Pvt LtdBill Discounting   CRISIL D       60      Reaffirmed
Pallava Granite Industries India Pvt LtdExport Packing     CRISIL D       180     Reaffirmed
                                        Credit
Pallava Granite Industries India Pvt LtdLOC                CRISIL D       50      Reaffirmed
Pallava Granite Industries India Pvt LtdPacking Credit     CRISIL D       40      Reaffirmed
Pallava Granite Industries India Pvt LtdProposed LT Bk     CRISIL D       45      Reaffirmed
                                        Loan Fac
Pallava Granite Industries India Pvt LtdTL                 CRISIL D       25      Reaffirmed
PallavaRED Granite Pvt Ltd              BG                 CRISIL D       30      Downgraded
                                                                                  from CRISIL C
PallavaRED Granite Pvt Ltd              Bill Discounting   CRISIL D       20      Downgraded
                                                                                  from CRISIL C
PallavaRED Granite Pvt Ltd              Export Packing     CRISIL D       60      Downgraded
                                        Credit                                    from CRISIL C
PallavaRED Granite Pvt Ltd              LT Loan            CRISIL D       60      Downgraded
                                                                                  from CRISIL C
PallavaRED Granite Pvt Ltd              Proposed LT Bk     CRISIL D       90      Downgraded
                                        Loan Fac                                  from CRISIL C
R D Engineers India Pvt Ltd             CC                 CRISIL B-      60      Migrated from
                                                                                  CRISIL B-
(Issuer Not Cooperating)
Ramjee Singh And Co.                    Proposed LT Bk     CRISIL BB-     100     Assigned
                                        Loan Fac
Rasi Electrodes Ltd                     CC                 CRISIL BB+     65      Assigned;
                                                                                  Suspension
                                                                                  revoked
Saboo Cylinders Pvt Ltd                 CC                 CRISIL BB      135     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Samrat Forgings Ltd                     Bill Discounting   CRISIL BB-     10      Upgraded from
                                                                                  CRISIL B+
Samrat Forgings Ltd                     CC                 CRISIL BB-     185     Upgraded from
                                                                                  CRISIL B+
Samrat Forgings Ltd                     TL                 CRISIL BB-     3.6     Upgraded from
                                                                                  CRISIL B+
Santosh Kumar Rajesh Kumar              CC                 CRISIL B+      50      Reaffirmed
Siddhi Forge Pvt Ltd                    CC                 CRISIL BB      120     Upgraded from
                                                                                  CRISIL BB-
Siddhi Forge Pvt Ltd                    LT Loan            CRISIL BB      20      Upgraded from
                                                                                  CRISIL BB-
Singhal Engineering                     Proposed LT Bk     CRISIL BB-     55.8    Assigned
                                        Loan Fac
Singhal Engineering                     CC                 CRISIL BB-     30      Assigned
Soncoya Solutions Pvt Ltd               CC                 CRISIL BB-     18.5    Assigned
Soncoya Solutions Pvt Ltd               Proposed CC Limit  CRISIL BB-     151.5   Assigned
Sri Nomula Brothers                     CC                 CRISIL B       70      Reaffirmed
Sudarshan Electrical Engg. Works        CC                 CRISIL D       60      Downgraded
                                                                                  from CRISIL B+
thyssenkrupp Industrial Solutions       LOC & BG           CRISIL A+      1750    Reaffirmed
(India) Pvt Ltd
thyssenkrupp Industrial Solutions       Overdraft          CRISIL A+      10      Reaffirmed
(India) Pvt Ltd
Veljan Hydrair Ltd                      CC                 CRISIL BB+     280     Withdrawn
(Issuer Not Cooperating)
Veljan Hydrair Ltd                      TL                 CRISIL BB+     135     Withdrawn
(Issuer Not Cooperating)
Vinayak International Housewares Pvt LtdOverdraft          CRISIL B+      15      Assigned
Vishal Transformers and Switchgears Pvt CC                 CRISIL BB+     100     Reaffirmed
Ltd
Vishal Transformers and Switchgears Pvt Proposed LT Bk     CRISIL BB+     2.5     Reaffirmed
Ltd                                     Loan Fac
Zoloto Industries                       CC                 CRISIL BBB+    300     Migrated
(Issuer Not Cooperating)
Zoloto Industries                       TL                 CRISIL BBB+    15      Migrated
(Issuer Not Cooperating)
--------------------------------------------------------------------------------------------
$: 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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