March 26, 2020 / 9:01 AM / 11 days ago

CRISIL ratings for Indian debt instruments-Mar 26

    Mar 26  - Below are the ratings awarded by Credit Rating Information Service of India
(CRISIL) for local debt instruments as of March 25, 2020.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Balarama Krishna Spinning Mills Pvt Ltd LOC                CRISIL A4+     25      Reaffirmed
East India Holdings Pvt Ltd             LOC & BG           CRISIL A4+     110     Reaffirmed
Khanna Hotels Pvt Ltd                   BG                 CRISIL A2      3       Reaffirmed
Nem Laboratories Pvt Ltd                BG                 CRISIL A4+     1.5     Reaffirmed
Nem Laboratories Pvt Ltd                Inland/Import LOC  CRISIL A4+     16      Reaffirmed
Nem Laboratories Pvt Ltd                Packing Credit     CRISIL A4+     3       Reaffirmed
Shir Commodities and Futures Pvt Ltd    BG                 CRISIL A4      350     -
(ISSUER NOT COOPERATING ; Migrated from 'CRISIL A4+')
Shir Commodities and Futures Pvt Ltd    Proposed BG        CRISIL A4      150     -
(ISSUER NOT COOPERATING ; Migrated from 'CRISIL A4+')
Shri Shyam Agro Biotech Pvt Ltd         BG                 CRISIL A4+     11      Reaffirmed
Singer India Ltd                        LOC & BG           CRISIL A3+     245     Reaffirmed
Soch Apparels Pvt Ltd                   Proposed ST Bk     CRISIL A4+     10      Downgraded
                                        Loan Fac                                  from 'CRISIL
                                                                                  A3'
Sonic Thermal Pvt Ltd                   BG                 CRISIL A3      140     Reaffirmed
Sonic Thermal Pvt Ltd                   LOC                CRISIL A3      410     Reaffirmed
Srinivasa Hair Industries Pvt Ltd       Bill Discounting   CRISIL A4+     312.6   Reaffirmed
                                        under LOC
Thakur Infraprojects Pvt Ltd            BG                 CRISIL A3      1256.6  -
(ISSUER NOT COOPERATING; Migrated from 'CRISIL A2')

LONG TERM RATINGS:
-------------------
Ameya Frozen Foods Pvt Ltd              Proposed LT Bk     CRISIL B/Stable150     Assigned
                                        Loan Fac
Ameya Frozen Foods Pvt Ltd              Proposed WC Fac    CRISIL B/Stable80      Assigned
Amritesh Agro Products Pvt Ltd          CC                 CRISIL         50      Reaffirmed
                                                           BB/Stable
Amritesh Agro Products Pvt Ltd          LT Loan            CRISIL         60      Reaffirmed
                                                           BB/Stable
Amritesh Agro Products Pvt Ltd          Proposed FB Bk     CRISIL         15      Reaffirmed
                                        Limits             BB/Stable
Auto Centre                             CC                 CRISIL         180     Reaffirmed
                                                           BB+/Stable
Auto Centre                             Proposed LT Bk     CRISIL         40      Reaffirmed
                                        Loan Fac           BB+/Stable
Balarama Krishna Spinning Mills Pvt Ltd CC                 CRISIL         175     Reaffirmed
                                                           BB/Stable
Balarama Krishna Spinning Mills Pvt Ltd LT Loan            CRISIL         18      Reaffirmed
                                                           BB/Stable
Balarama Krishna Spinning Mills Pvt Ltd Proposed FB Bk     CRISIL         258.5   Reaffirmed
                                        Limits             BB/Stable
Balarama Krishna Spinning Mills Pvt Ltd Proposed LT Bk     CRISIL         80      Reaffirmed
                                        Loan Fac           BB/Stable
D Corp Agro Foods Pvt Ltd               CC                 -              52.5    Withdrawn
D Corp Agro Foods Pvt Ltd               Proposed LT Bk     -              0.5     Withdrawn
                                        Loan Fac
D Corp Agro Foods Pvt Ltd               TL                 -              52      Withdrawn
East India Holdings Pvt Ltd             CC                 CRISIL         110     Reaffirmed
                                                           BB/Stable
Esco Pipes Pvt Ltd                      CC                 -              62.5    Withdrawn
Island Star Mall Developers Pvt Ltd     Overdraft          CRISIL A       750     -
(Placed on 'Rating Watch with Negative Implication')
Island Star Mall Developers Pvt Ltd     TL                 CRISIL A       4800    -
(Placed on 'Rating Watch with Negative Implication')
Jasmin Infotech Pvt Ltd                 LT Loan            CRISIL         20      Reaffirmed
                                                           BBB-/Stable
Jasmin Infotech Pvt Ltd                 Overdraft          CRISIL         52      Reaffirmed
                                                           BBB-/Stable
Khanna Hotels Pvt Ltd                   CC                 CRISIL         60      -
                                                           BBB+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Khanna Hotels Pvt Ltd                   TL                 CRISIL         463.9   -
                                                           BBB+/Negative
(Outlook revised from 'Stable' and rating reaffirmed)
Lotus Greens Constructions Pvt Ltd      NCD                CRISIL D       4500    Downgraded
                                                                                  from 'CRISIL
                                                                                  B-/Negative
Master Trust 2019 Series I              Series A           Provisional    -       Outstanding
                                        Pass-Through       CRISIL AA+ (SO
                                        Certificates (PTCs)
Medicheck Info Pvt Ltd                  WC TL              CRISIL         60      Assigned
                                                           B-/Stable
Medicheck Info Pvt Ltd                  Funded Interest TL CRISIL         9       Assigned
                                                           B-/Stable
Medicheck Info Pvt Ltd                  Proposed FB Bk     CRISIL         1       Assigned
                                        Limits             B-/Stable
Nem Laboratories Pvt Ltd                CC                 CRISIL         15      Reaffirmed
                                                           BB/Stable
Nem Laboratories Pvt Ltd                Proposed TL        CRISIL         5       Reaffirmed
                                                           BB/Stable
Nem Laboratories Pvt Ltd                Proposed WC Fac    CRISIL         19.5    Reaffirmed
                                                           BB/Stable
Nysaa Retail Pvt Ltd                    Ratings            -              -       -
(CRISIL is yet to receive adequate information to enable it to undertake a rating review)
Ravi Vinyls (India) Ltd                 LOC                -              120     Withdrawn
Sabi Engineering Company                BG                 -              17.7    Withdrawn
Sabi Engineering Company                CC                 -              40      Withdrawn
Seven Leisure Pvt Ltd                   Proposed LT Bk     CRISIL         175.4   Downgraded
                                        Loan Fac           B+/Negatiive           from 'CRISIL
                                                                                  BBB-/Stable'
Seven Leisure Pvt Ltd                   Secured Overdraft  CRISIL         98      Downgraded
                                        Fac                B+/Negatiive           from 'CRISIL
                                                                                  BBB-/Stable'
Seven Leisure Pvt Ltd                   TL                 CRISIL         826.6   Downgraded
                                                           B+/Negatiive           from 'CRISIL
                                                                                  BBB-/Stable'
Shree Jee Flour Mills Pvt Ltd           CC                 CRISIL         140     Reaffirmed
                                                           BB+/Stable
Shree Jee Flour Mills Pvt Ltd           Proposed LT Bk     CRISIL         7       Reaffirmed
                                        Loan Fac           BB+/Stable
Shree Jee Flour Mills Pvt Ltd           TL                 CRISIL         5       Reaffirmed
                                                           BB+/Stable
Shri Shyam Agro Biotech Pvt Ltd         CC                 CRISIL         160     Reaffirmed
                                                           BB/Stable
Shri Shyam Agro Biotech Pvt Ltd         TL                 CRISIL         7.5     Reaffirmed
                                                           BB/Stable
Singer India Ltd                        CC                 CRISIL         155     Reaffirmed
                                                           BBB/Stable
Singer India Ltd                        WC Demand Loan     CRISIL         50      Reaffirmed
                                                           BBB/Stable
Soch Apparels Pvt Ltd                   CC                 CRISIL         500     Downgraded
                                                           BB+/Negative           from 'CRISIL
                                                                                  BBB-/Negative'
Soch Apparels Pvt Ltd                   Proposed WC Fac    CRISIL         269.4   Downgraded
                                                           BB+/Negative           from 'CRISIL
                                                                                  BBB-/Negative'
Soch Apparels Pvt Ltd                   TL                 CRISIL         209.3   Downgraded
                                                           BB+/Negative           from 'CRISIL
                                                                                  BBB-/Negative'
Sonic Thermal Pvt Ltd                   CC                 CRISIL         180     Reaffirmed
                                                           BBB-/Stable
Sonic Thermal Pvt Ltd                   Proposed LT Bk     CRISIL         20      Reaffirmed
                                        Loan Fac           BBB-/Stable
Srinivasa Hair Industries Pvt Ltd       Export Packing     CRISIL         250     Reaffirmed
                                        Credit             BB/Stable
Thakur Infraprojects Pvt Ltd            CC                 CRISIL         135     -
                                                           BBB-/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+/Stable')
Thakur Infraprojects Pvt Ltd            Overdraft          CRISIL         30      -
                                                           BBB-/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+/Stable')
Thakur Infraprojects Pvt Ltd            Proposed LT Bk     CRISIL         288.4   -
                                        Loan Fac           BBB-/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+/Stable')
Thakur Infraprojects Pvt Ltd            TL                 CRISIL         190     -
                                                           BBB-/Stable
(ISSUER NOT COOPERATING; Migrated from 'CRISIL BBB+/Stable')


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