March 16, 2020 / 9:22 AM / 23 days ago

CRISIL ratings for Indian debt instruments-Mar 16

    Mar 16  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of March 13, 2020.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Agastya Nutrifood Industries LLP        LOC                CRISIL A4      10      Assigned
Agastya Nutrifood Industries LLP        BG                 CRISIL A4      25      Assigned
Arun Textiles Pvt Ltd                   Import LOC Limit   CRISIL A3+     94      Reaffirmed
Arun Textiles Pvt Ltd                   Inland/Import LOC  CRISIL A3+     30      Reaffirmed
Arun Textiles Pvt Ltd                   Overdraft          CRISIL A3+     50      Reaffirmed
Perfect Alloys and Steel Ltd            BG                 CRISIL A4      3       Assigned
Quality Care India Ltd                  BG                 CRISIL A1      45      Reaffirmed
Quality Care India Ltd                  LOC                CRISIL A1      20      Reaffirmed
Sai Constructions - Mumbai              BG                 CRISIL A4      27.5    Reaffirmed
Sai Constructions - Mumbai              Overdraft          CRISIL A4      33      Reaffirmed
SJS Healthcare Ltd                      Overdraft          CRISIL A3+     250     Reaffirmed
Strescon Wire Industries Pvt Ltd        BG                 CRISIL A4      5       Reaffirmed
Strescon Wire Industries Pvt Ltd        Inland/Import LOC  CRISIL A4      20      Reaffirmed
Turbo Energy Pvt Ltd                    Sales Bill         CRISIL A1+     400     Assigned
                                        Discounting
Turbo Energy Pvt Ltd                    LOC*               CRISIL A1+     200     Assigned
*Interchangeable with Bank guarantee and SBLC
VeeGee Industrial Enterprises Pvt Ltd   BG                 CRISIL A3      174.5   Downgraded
                                                                                  from CRISIL
                                                                                  A3+
VeeGee Industrial Enterprises Pvt Ltd   LOC                CRISIL A3      100     Downgraded
                                                                                  from CRISIL
                                                                                  A3+


LONG TERM RATINGS:
-------------------
A.G. Rice Mills                         CC                 -              140     Withdrawn
Aastha International                    Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Agastya Nutrifood Industries LLP        TL                 CRISIL B/Stable77      Assigned
Agastya Nutrifood Industries LLP        Proposed FB Bk     CRISIL B/Stable8       Assigned
                                        Limits
Agastya Nutrifood Industries LLP        CC                 CRISIL B/Stable25      Assigned
Ajay Poly Pvt Ltd                       CC                 CRISIL         250     Reaffirmed
                                                           BBB-/Stable
Ajay Poly Pvt Ltd                       TL                 CRISIL         20      Reaffirmed
                                                           BBB-/Stable
Arun Textiles Pvt Ltd                   CC                 CRISIL         280     Reaffirmed
                                                           BBB/Stable
Arun Textiles Pvt Ltd                   Standby Line of    CRISIL         30      Reaffirmed
                                        Credit             BBB/Stable
Arun Textiles Pvt Ltd                   TL                 CRISIL         88.1    Reaffirmed
                                                           BBB/Stable
Ashtech India Pvt Ltd                   Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Baggit India Pvt Ltd                    CC                 CRISIL         362.3   Reaffirmed
                                                           BBB-/Stable
Baggit India Pvt Ltd                    Drop Line          CRISIL         15.8    Reaffirmed
                                        Overdraft Fac      BBB-/Stable
Baggit India Pvt Ltd                    TL                 CRISIL         5       Reaffirmed
                                                           BBB-/Stable
Bait Logitech Pvt Ltd                   Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Balkrishna Fashion                      CC                 CRISIL         80      Reaffirmed
                                                           BB/Stable
Balkrishna Fashion                      Proposed CC Limit  CRISIL         10      Reaffirmed
                                                           BB/Stable
Bharat Agro Product                     Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Bhavyasindhu Infra Projects Pvt Ltd     Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Bhilwara Rajsamand Tollway Pvt Ltd      TL                 CRISIL A-      2750    -
(Continues on Rating Watch with Developing Implications)
Bijapur Hungund Tollway Pvt Ltd         Proposed LT Bk     CRISIL A-      157.4   -
                                        Loan Fac
(Continues on Rating Watch with Developing Implications)
Bijapur Hungund Tollway Pvt Ltd         TL                 CRISIL A-      4142.6  -
(Continues on Rating Watch with Developing Implications)
Bijapur Hungund Tollway Pvt Ltd         NCD                CRISIL A-      2500    -
(Continues on Rating Watch with Developing Implications)
Bijapur Hungund Tollway Pvt Ltd         NCD                CRISIL A-      1450    -
(Continues on Rating Watch with Developing Implications)
Bose Exports                            Proposed LT Bk     CRISIL D       26.5    Assigned
                                        Loan Fac
Bose Exports                            Packing Credit     CRISIL D       35      Assigned
Bose Exports                            LT Loan            CRISIL D       8.5     Assigned
Bose Exports                            Bill Purchase      CRISIL D       20      Assigned
Bose Exports                            CC                 CRISIL D       10      Assigned
Comet Exports                           Foreign            -              10      -
                                        Discounting Bill
                                        Purchase
(Rating reaffirmed and Withdrawn)
Comet Exports                           Packing Credit     -              75      -
(Rating reaffirmed and Withdrawn)
Comet Exports                           Proposed LT Bk     -              95      -
                                        Loan Fac

(Rating reaffirmed and Withdrawn)
Comet Handicrafts                       Export Packing     -              110     -
                                        Credit
(Rating reaffirmed and Withdrawn)
Comet Handicrafts                       Foreign Bill       -              30      -
                                        Purchase
(Rating reaffirmed and Withdrawn)
Comet Handicrafts                       Proposed ST Bk     -              43.8    -
                                        Loan Fac
(Rating reaffirmed and Withdrawn)
Comet Handicrafts                       TL                 -              16.2    -
(Rating reaffirmed and Withdrawn)
Deepak Diamonds Pvt Ltd                 Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Elite Vintage Winery India Pvt Ltd      Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Foremost Dairies Pvt Ltd                CC                 CRISIL         38      Assigned
                                                           B+/Stable
Foremost Dairies Pvt Ltd                TL                 CRISIL         38      Assigned
                                                           B+/Stable
Galaxy Appliances Pvt Ltd               TL                 CRISIL         20      Assigned
                                                           B+/Stable
Ganga Care Hospital Ltd                 Proposed CC Limit  CRISIL         17.5    Reaffirmed
                                                           A+/Stable
Ganga Care Hospital Ltd                 Proposed TL        CRISIL         50      Reaffirmed
                                                           A+/Stable
Ipsum Medicare Pvt Ltd                  Proposed LT Bk     -              30.5    Withdrawn
                                        Loan Fac
Ipsum Medicare Pvt Ltd                  TL                 -              89.5    Withdrawn
Jones Foundations Pvt Ltd               Drop Line          CRISIL         400     -
                                        Overdraft Fac      BB/Stable
(Migrated from CRISIL BB-/Stable ISSUER NOT COOPERATING)
Jones Foundations Pvt Ltd               LT Loan            CRISIL         700     -
                                                           BB/Stable
(Migrated from CRISIL BB-/Stable ISSUER NOT COOPERATING)
Kishori Sarees Pvt Ltd                  Overdraft          -              60      Withdrawn
Kishori Sarees Pvt Ltd                  Proposed LT Bk     -              10      Withdrawn
                                        Loan Fac
Kosan Crisplant India Pvt Ltd           BG                 CRISIL         280     Assigned
                                                           BBB+/Stable
Lakshman Tools Pvt Ltd                  Bill Discounting   -              5       Withdrawn
                                        under LOC
(Rating Reaffirmed and Withdrawn)
Lakshman Tools Pvt Ltd                  CC                 -              30      Withdrawn
(Rating Reaffirmed and Withdrawn)
Lakshman Tools Pvt Ltd                  LOC                -              10      Withdrawn
(Rating Reaffirmed and Withdrawn)
Lakshman Tools Pvt Ltd                  Proposed FB Bk     -              30      Withdrawn
                                        Limits
(Rating Reaffirmed and Withdrawn)
Lakshman Tools Pvt Ltd                  TL                 -              5       Withdrawn
(Rating Reaffirmed and Withdrawn)
Lendingkart Finance Ltd                 CC                 CRISIL         100     Reaffirmed
                                                           BBB+/Positive
Lendingkart Finance Ltd                 TL                 CRISIL         1900    Reaffirmed
                                                           BBB+/Positive
Lendingkart Finance Ltd                 LT Principal       CRISIL PP-MLD  200     Assigned
                                        Protected Market   BBB+r/Positive
                                        Linked Debentures
Maha Maruti Logistics Pvt Ltd           Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Malieakal Electronics                   Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Mono Steel India Ltd                    Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Morning Staar Apparels                  Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Muthulaxmi Spinning Mills Pvt Ltd       CC                 CRISIL D       65      Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
(Issuer not cooperating)
Muthulaxmi Spinning Mills Pvt Ltd       LOC                CRISIL D       20      Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
(Issuer not cooperating)
Neptune Systems Pvt Ltd                 Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Neuron Pharma Pvt Ltd                   Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
NV Distilleries Pvt Ltd                 CC                 Withdrawn      600     -
(Rating reaffirmed and Withdrawn)
NV International Pvt Ltd                LT Loan            -              1150    Withdrawn
(Rating reaffirmed and Withdrawn)
Parinee Realty Pvt Ltd                  Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Parth International Pvt Ltd             BG                 -              10      Withdrawn
Parth International Pvt Ltd             CC                 -              120     Withdrawn
Parth International Pvt Ltd             LT Loan            -              120     Withdrawn
Perfect Alloys and Steel Ltd            Rupee TL           CRISIL B/Stable52.5    Assigned
Perfect Alloys and Steel Ltd            CC                 CRISIL B/Stable62      Assigned
Platinum Ceramic Pvt Ltd                Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Power Control Equipments                Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Prodapt Solutions Pvt Ltd               BG                 -              2.5     Withdrawn
(Rating reaffirmed and Withdrawn)
Prodapt Solutions Pvt Ltd               CC                 -              700     Withdrawn
(Rating reaffirmed and Withdrawn)
Prodapt Solutions Pvt Ltd               Proposed LT Bk     -              197.5   Withdrawn
                                        Loan Fac
(Rating reaffirmed and Withdrawn)
Quality Care India Ltd                  CC                 CRISIL         850     Reaffirmed
                                                           A+/Stable
Quality Care India Ltd                  Proposed TL        CRISIL         155.2   Reaffirmed
                                                           A+/Stable
Quality Care India Ltd                  TL                 CRISIL         3002.8  Reaffirmed
                                                           A+/Stable
Ramkrishna Care Medical Sciences Pvt LtdCC                 CRISIL         50      Reaffirmed
                                                           A+/Stable 
Ramkrishna Care Medical Sciences Pvt LtdProposed LT Bk     CRISIL         23      Reaffirmed
                                        Loan Fac           A+/Stable 
Ramkrishna Care Medical Sciences Pvt LtdTL                 CRISIL         737     Reaffirmed
                                                           A+/Stable 
Ruby Builders and Promoters             Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Rural Institute of Social and Economic  LT Loan            -              100     -
Empowerment
(Rating reaffirmed and Withdrawn)
Rural Institute of Social and Economic  Overdraft          -              20      -
Empowerment
(Rating reaffirmed and Withdrawn)
Rural Institute of Social and Economic  Proposed LT Bk     -              100     -
Empowerment                             Loan Fac
(Rating reaffirmed and Withdrawn)
Sai Constructions - Mumbai              Proposed FB Bk     CRISIL B/Stable19.5    Reaffirmed
                                        Limits
Shreenathji-Udaipur Tollway Pvt Ltd     Proposed LT Bk     CRISIL A       29.6    -
                                        Loan Fac
(Continues on Rating Watch with Developing Implications)
Shreenathji-Udaipur Tollway Pvt Ltd     TL                 CRISIL A       2920.4  -
(Continues on Rating Watch with Developing Implications)
Shri Shakti Cylinders Pvt Ltd           Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
SJS Healthcare Ltd                      LT Loan            CRISIL         200     Reaffirmed
                                                           BBB/Stable
SJS Healthcare Ltd                      Proposed LT Bk     CRISIL         50      Reaffirmed
                                        Loan Fac           BBB/Stable
SLMG Beverages Pvt Ltd                  TL                 CRISIL BBB-    3800    -
(Continues on Rating Watch with Developing Implications)
Somesh Forge Pvt Ltd                    CC                 -              40      Withdrawn
Somesh Forge Pvt Ltd                    LT Loan            -              19.4    Withdrawn
Somesh Forge Pvt Ltd                    Proposed LT Bk     -              40.6    Withdrawn
                                        Loan Fac
Sree Anjaneya Medical Trust             CC                 CRISIL         50      Assigned
                                                           BB-/Stable
Sree Anjaneya Medical Trust             TL                 CRISIL         450     Assigned
                                                           BB-/Stable
Sree Vaageswari Educational Society     Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Sri Raghavendra Ferro Alloys Pvt Ltd    Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Srijagdamba Cylinder Gases Pvt Ltd      Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
SSR Crest Engineers and Constructions   Ratings            -              -       -
Ltd
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Strescon Wire Industries Pvt Ltd        CC                 CRISIL         20      Reaffirmed
                                                           B+/Stable
Strescon Wire Industries Pvt Ltd        TL                 CRISIL         25.8    Reaffirmed
                                                           B+/Stable
Sweet Ceramic Pvt Ltd                   Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
The Kerala Khadi and Village Industries CC                 CRISIL         150     Reaffirmed
Association                                                BB-/Stable
The Kerala Khadi and Village Industries Proposed LT Bk     CRISIL         30      Reaffirmed
Association                             Loan Fac           BB-/Stable
The Kerala Khadi and Village Industries TL                 CRISIL         20      Reaffirmed
Association                                                BB-/Stable
Turbo Energy Pvt Ltd                    TL                 CRISIL         1200    Assigned
                                                           AA/Stable
Turbo Energy Pvt Ltd                    CC#                CRISIL         200     Assigned
                                                           AA/Stable
#Interchangeable with WCDL, Export packing credit/Bill invoice discounting
VEE GEE Auto Components Pvt Ltd         LT Loan            CRISIL         385.6   Downgraded
                                                           BB/Negative            from CRISIL
                                                                                  BB+/Negative
VEE GEE Auto Components Pvt Ltd         WC Demand Loan     CRISIL         100     Downgraded
                                                           BB/Negative            from CRISIL
                                                                                  BB+/Negative
VeeGee Industrial Enterprises Pvt Ltd   Bill Discounting   CRISIL         750     Downgraded
                                                           BBB-/Negative          from CRISIL
                                                                                  BBB/Negative
VeeGee Industrial Enterprises Pvt Ltd   CC                 CRISIL         450     Downgraded
                                                           BBB-/Negative          from CRISIL
                                                                                  BBB/Negative
VeeGee Industrial Enterprises Pvt Ltd   LT Loan            CRISIL         934.9   Downgraded
                                                           BBB-/Negative          from CRISIL
                                                                                  BBB/Negative
VeeGee Industrial Enterprises Pvt Ltd   Proposed FB Bk     CRISIL         4.9     Downgraded
                                        Limits             BBB-/Negative          from CRISIL
                                                                                  BBB/Negative
VeeGee Industrial Enterprises Pvt Ltd   WC Demand Loan     CRISIL         300     Downgraded
                                                           BBB-/Negative          from CRISIL
                                                                                  BBB/Negative
Vinayaka Constructions                  Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)



--------------------------------------------------------------------------------------------
$: 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@refinitiv.com)
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