May 11, 2018 / 8:02 AM / 12 days ago

CRISIL ratings for Indian debt instruments-May 11

   May 11 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 10, 2018.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                         (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aan Motors Pvt Ltd                      BG                 CRISIL A4      2       -
Advance Cable Technologies Pvt Ltd      BG                 CRISIL A4+     45      Reaffirmed
Advance Cable Technologies Pvt Ltd      Foreign Exchange   CRISIL A4+     1.5     Reaffirmed
                                        Forward
Advance Cable Technologies Pvt Ltd      LOC                CRISIL A4+     145     Reaffirmed
Alfa Chemo Plast Pvt Ltd                LOC                CRISIL A4      55      Reaffirmed
Alfa Chemo Plast Pvt Ltd                Proposed LT Bk     CRISIL A4      30      Withdrawn
                                        Loan Fac
Axel Polymers Ltd                       Inland/Import LOC  CRISIL A4      40      Reaffirmed
Durga Polysters Pvt Ltd                 BG                 CRISIL A3      20      Reaffirmed
Durga Polysters Pvt Ltd                 Proposed ST Bk     CRISIL A3      20      -
                                        Loan Fac
Excelsource International Pvt Ltd       Export Packing     CRISIL A4      50      Assigned
                                        Credit
(Suspension Revoked)
Excelsource International Pvt Ltd       Foreign Bill       CRISIL A4      80      Assigned
                                        Purchase
(Suspension Revoked)
Excelsource International Pvt Ltd       LOC                CRISIL A4      20      Assigned
(Suspension Revoked)
Excelsource International Pvt Ltd       LOC Bill           CRISIL A4      49      Assigned
                                        Discounting
(Suspension Revoked)
Excelsource International Pvt Ltd       Proposed ST Bk     CRISIL A4      51      Assigned
                                        Loan Fac
(Suspension Revoked)
IIFL Holdings Ltd                       ST Debt (Including CRISIL A1+     5000    Reaffirmed
                                        CP)
IIFL Wealth Management Ltd              CP Programme       CRISIL A1+     5000    Reaffirmed
IIFL Wealth Management Ltd              CP Issue*          CRISIL A1+     20000   Withdrawn
*Assigned for initial public offering financing on an episodic basis
Imperial Granites Pvt Ltd               BG                 CRISIL A4      5       Reaffirmed
Imperial Granites Pvt Ltd               LOC                CRISIL A4      17      Reaffirmed
India Infoline Housing Finance Ltd      ST Debt (Including CRISIL A1+     30000   Reaffirmed
                                        CP)
INFINA Finance Pvt Ltd                  CP Issue*          CRISIL A1+     35000   Assigned
*Assigned for initial/ follow-on public offer financing on episodic basis
INFINA Finance Pvt Ltd                  CP Issue*          CRISIL A1+     75000   Withdrawn
*Assigned for initial/ follow-on public offer financing on episodic basis
INFINA Finance Pvt Ltd                  CP Programme       CRISIL A1+     7500    Reaffirmed
Kudu Knit Process Pvt Ltd               Letter Of GuaranteeCRISIL A3      1       Reassigned
Marico Ltd                              LOC & BG           CRISIL A1+     1450    Reaffirmed
Marico Ltd                              CP                 CRISIL A1+     1500    Withdrawn
Ms Bait Al Tamur Co                     BG                 CRISIL A3+     200     Reaffirmed
Perumal Spinning Mills Pvt Ltd          LOC                CRISIL A4+     20      Assigned
Perumal Spinning Mills Pvt Ltd          BG                 CRISIL A4+     7.5     Assigned
Rajhans Enterprises.                    LOC                CRISIL A3      5       Assigned
Rajhans Enterprises.                    BG                 CRISIL A3      1       Assigned
Rajshree Fabrics                        Proposed NFBL      CRISIL A4+     20      Assigned
Synthokem Labs Pvt Ltd                  BG                 CRISIL A3      8       Reaffirmed
Synthokem Labs Pvt Ltd                  Export Packing     CRISIL A3      73      Reaffirmed
                                        Credit
Tata Capital Ltd                        CP                 CRISIL A1+             Reaffirmed

LONG TERM RATINGS:
-------------------
Aan Motors Pvt Ltd                      CC                 CRISIL B       20      Reaffirmed
Aan Motors Pvt Ltd                      Electronic Dealer  CRISIL B       115     Reaffirmed
                                        Financing
                                        Scheme(e-DFS)
Aan Motors Pvt Ltd                      TL                 CRISIL B       63      Assigned
Advance Cable Technologies Pvt Ltd      CC                 CRISIL BB+     5       Reaffirmed
Alfa Chemo Plast Pvt Ltd                CC                 CRISIL B-      25      Reaffirmed
Alfa Chemo Plast Pvt Ltd                Proposed CC Limit  CRISIL B-      25      Withdrawn
Axel Polymers Ltd                       CC                 CRISIL B       50      Reaffirmed
Bhopal Dhule Transmission Co. Ltd       TL                 -              13800   Withdrawn
Bhopal Dhule Transmission Co. Ltd       External           CRISIL AAA     2782.5  Reaffirmed
                                        Commercial
                                        Borrowings
Bhopal Dhule Transmission Co. Ltd       Bonds              CRISIL AAA     7400    Reaffirmed
Chirag Rice & Pulse Mill                CC                 CRISIL B       5       Downgraded
                                                                                  from 'CRISIL
                                                                                  B+
Chirag Rice & Pulse Mill                Proposed LT Bk     CRISIL B       0.52    Downgraded
                                        Loan Fac                                  from 'CRISIL
                                                                                  B+
Chirag Rice & Pulse Mill                TL                 CRISIL B       0.18    Downgraded
                                                                                  from 'CRISIL
                                                                                  B+
Christy Fabric Pvt Ltd                  CC                 -              1       Withdrawn
Christy Fabric Pvt Ltd                  LOC                -              1.6     Withdrawn
Christy Fabric Pvt Ltd                  Proposed LT Bk     -              0.7     Withdrawn
                                        Loan Fac
Christy Fabric Pvt Ltd                  TL                 -              1.7     Withdrawn
Christy Textile Products Pvt Ltd        CC                 CRISIL B       20      Withdrawn
(Issuer Not Cooperating; Rating Withdrawn)

Christy Textile Products Pvt Ltd        Proposed LT Bk     CRISIL B       28.5    Withdrawn
                                        Loan Fac
(Issuer Not Cooperating; Rating Withdrawn)
Christy Textile Products Pvt Ltd        TL                 CRISIL B       1.5     Withdrawn
(Issuer Not Cooperating; Rating Withdrawn)
Clear Polyplast India Pvt Ltd           CC                 CRISIL BBB     110     Reaffirmed
Clear Polyplast India Pvt Ltd           Proposed LT Bk     CRISIL BBB     142     Reaffirmed
                                        Loan Fac
Clear Polyplast India Pvt Ltd           TL                 CRISIL BBB     48      Reaffirmed
Crystal Containers                      CC                 CRISIL BBB     30      Reaffirmed
Dentcare Dental Lab Pvt Ltd             CC                 CRISIL B       110     Withdrawn
(Issuer Not Cooperating; Rating Migrated)
Dentcare Dental Lab Pvt Ltd             Proposed LT Bk     CRISIL B       1       Withdrawn
                                        Loan Fac
(Issuer Not Cooperating; Rating Migrated)
Dentcare Dental Lab Pvt Ltd             TL                 CRISIL B       4       Withdrawn
(Issuer Not Cooperating; Rating Migrated)
Diamond Engineering (Chennai) Pvt Ltd   CC*                CRISIL D       407.9   Reaffirmed
(Issuer Not Cooperating; Rating Migrated).
 *Includes letter of credit sub-limit of Rs.0.80 crore.
Diamond Engineering (Chennai) Pvt Ltd   CC#                CRISIL D       200     Reaffirmed
(Issuer Not Cooperating; Rating Migrated).
 #Includes export packing credit sub-limit of Rs.10.0 crore and foreign bill
 discounting sub-limit of Rs.10.0 crore.
Diamond Engineering (Chennai) Pvt Ltd   Funded Interest TL CRISIL D       157.1   Reaffirmed
(Issuer Not Cooperating; Rating Migrated)
Diamond Engineering (Chennai) Pvt Ltd   LOC & BG           CRISIL D       150     Reaffirmed
(Issuer Not Cooperating; Rating Migrated)
Diamond Engineering (Chennai) Pvt Ltd   LT Loan            CRISIL D       150     Reaffirmed
(Issuer Not Cooperating; Rating Migrated)
Diamond Engineering (Chennai) Pvt Ltd   TL                 CRISIL D       188.3   Reaffirmed
(Issuer Not Cooperating; Rating Migrated)
Diamond Engineering (Chennai) Pvt Ltd   WC TL              CRISIL D       1264.4  Reaffirmed
(Issuer Not Cooperating; Rating Migrated)
Durga Polysters Pvt Ltd                 CC*                CRISIL BBB-    120     Reaffirmed
* Letter of Credit facility of Rs.2 crore as a sub limit of cash credit facility
Durga Polysters Pvt Ltd                 Proposed LT Bk     CRISIL BBB-    110     -
                                        Loan Fac
Durga Polysters Pvt Ltd                 TL                 CRISIL BBB-    380     Reaffirmed
Esha Iron and Steel                     CC                 CRISIL B       60      Withdrawn
(Issuer Not Cooperating; Rating Withdrawn)
Esha Iron and Steel                     Proposed LT Bk     CRISIL B       30      Withdrawn
                                        Loan Fac
(Issuer Not Cooperating; Rating Withdrawn)
Ever Green Fabric Process Pvt Ltd       CC                 -              15      Withdrawn
(Issuer Not Cooperating; Rating Withdrawn)
Ever Green Fabric Process Pvt Ltd       Proposed LT Bk     -              3.5     Withdrawn
                                        Loan Fac
(Issuer Not Cooperating; Rating Withdrawn)
Ever Green Fabric Process Pvt Ltd       TL                 -              31.5    Withdrawn
(Issuer Not Cooperating; Rating Withdrawn)
Hari Om Industries Ltd                  CC                 CRISIL BB+     140     Reaffirmed
Hari Om Industries Ltd                  Proposed FB Bk     CRISIL BB+     12.5    Reaffirmed
                                        Limits
Hari Om Industries Ltd                  TL                 CRISIL BB+     87.5    Reaffirmed
Imperial Granites Pvt Ltd               CC                 CRISIL B+      90      Reaffirmed
Imperial Granites Pvt Ltd               Export Packing     CRISIL B+      55      Reaffirmed
                                        Credit
Imperial Granites Pvt Ltd               Proposed LT Bk     CRISIL B+      21.5    Reaffirmed
                                        Loan Fac
India Infoline Housing Finance Ltd      NCDs               CRISIL AA      2000    -
(Continues on Rating Watch with Developing Implications)
India Infoline Housing Finance Ltd      NCDs               CRISIL AA      5000    -
(Continues on Rating Watch with Developing Implications)
India Infoline Housing Finance Ltd      NCDs               CRISIL AA      500     -
(Continues on Rating Watch with Developing Implications)
Kerala Infrastructure Investment Fund   NCD                CRISIL A+(SO)  35000   Reaffirmed^
Board
^ A prefix of 'Provisional' indicates that the rating centrally factors in the 
strength of specific structures, and will be supported by certain critical 
documentation by the issuer, without which the rating would either have been 
different or not assigned ab initio. This is in compliance with a May 6, 2015 
directive by Securities and Exchange Board of India (SEBI), 'Standardising the term,
rating symbol, and manner of disclosure with regards to conditional/ provisional/
 in-principle ratings assigned by credit rating agencies (CRAs). 
Kudu Knit Process Pvt Ltd               CC                 CRISIL BBB-    80      Upgraded from
                                                                                  CRISIL BB+
Kudu Knit Process Pvt Ltd               LT Loan            CRISIL BBB-    25.4    Upgraded from
                                                                                  CRISIL BB+
Kudu Knit Process Pvt Ltd               Proposed LT Bk     CRISIL BBB-    18.6    Upgraded from
                                        Loan Fac                                  CRISIL BB+
M/s. Mahavishnu Rice Industries         CC                 CRISIL BB-     9       Upgraded from
                                                                                  CRISIL B+
M/s. Mahavishnu Rice Industries         Standby Line of    CRISIL BB-     1       Upgraded from
                                        Credit                                    CRISIL B+
Marico Ltd                              CC & WC demand     CRISIL AA+     1460    Reaffirmed
                                        loan*
*Working Capital Demand Loan 
Mir Realtors Pvt Ltd                    LT Loan            -              100     Withdrawn
(Issuer Not Cooperating; Rating Withdrawn) 
Ms Bait Al Tamur Co                     CC@                CRISIL BBB     300     Reaffirmed
@Buyers credit converted to FCTL under the sublimit of Cash Credit 
Ms Bait Al Tamur Co                     Warehouse FinancingCRISIL BBB     150     Reaffirmed
Para Products Pvt Ltd                   CC                 CRISIL BB      192     Reaffirmed
(Migrated from CRISIL BB Issuer Not Cooperating)
Para Products Pvt Ltd                   Proposed CC Limit  CRISIL BB      8       Reaffirmed
(Migrated from CRISIL BB Issuer Not Cooperating)
Patel Timber Depot                      Inland/Import LOC  -              50      Withdrawn
Patel Timber Depot                      Overdraft          -              3       Withdrawn
Perumal Spinning Mills Pvt Ltd          LT Loan            CRISIL BB-     40.7    Assigned
Perumal Spinning Mills Pvt Ltd          CC                 CRISIL BB-     117.5   Assigned
Piyanshu Chemicals Pvt Ltd              BG                 -              50      Withdrawn
(Issuer Not Cooperating; Rating Withdrawn) 
Piyanshu Chemicals Pvt Ltd              CC                 -              120     Withdrawn
(Issuer Not Cooperating; Rating Withdrawn) 
Piyanshu Chemicals Pvt Ltd              LOC                -              30      Withdrawn
(Issuer Not Cooperating; Rating Withdrawn) 
Piyanshu Chemicals Pvt Ltd              Proposed LT Bk     -              60      Withdrawn
                                        Loan Fac
(Issuer Not Cooperating; Rating Withdrawn) 
Rajhans Enterprises.                    TL                 CRISIL BBB-    19      Assigned
Rajhans Enterprises.                    CC                 CRISIL BBB-    15      Assigned
Rajshree Fabrics                        Rupee TL           CRISIL BB-     90      Assigned
Rajshree Fabrics                        CC                 CRISIL BB-     60      Assigned
Riddhi Casting Pvt Ltd                  Bill Discounting   CRISIL B       90      Reaffirmed
(Migrated from CRISIL B/Negative Issuer Not Cooperating)
Riddhi Casting Pvt Ltd                  CC                 CRISIL B       10      Reaffirmed
(Migrated from CRISIL B/Negative Issuer Not Cooperating)
Riddhi Casting Pvt Ltd                  TL                 CRISIL B       8       Assigned
(Migrated from CRISIL B/Negative Issuer Not Cooperating)
Riddhi Casting Pvt Ltd                  Proposed LT Bk     CRISIL B       57      Assigned
                                        Loan Fac
(Migrated from CRISIL B/Negative Issuer Not Cooperating)
Samasta Microfinance Ltd                Proposed LT Bk     CRISIL A       0.53    Reaffirmed
                                        Loan Fac
Samasta Microfinance Ltd                TL                 CRISIL A       79.47   Reaffirmed
Sara Exports Ltd                        CC                 CRISIL BB      320     Reaffirmed
Sara Exports Ltd                        LT Loan            CRISIL BB      78      Reaffirmed
Sara Exports Ltd                        Proposed LT Bk     CRISIL BB      47      Assigned
                                        Loan Fac
Shree Sita Edibles Ltd                  CC                 CRISIL BBB-    20      Reaffirmed
Shree Sita Edibles Ltd                  TL                 CRISIL BBB-    2.89    Reaffirmed
Shree Sita Edibles Ltd                  Warehouse Receipts CRISIL BBB-    15      Reaffirmed
Shri Jagannath Prasad Ganeshi Lal Bajaj CC/ Overdraft Fac  CRISIL BBB-    250     -
Charitable Trust Samiti
(Migrated from CRISIL BB+ Issuer Not Cooperating)
Shri Jagannath Prasad Ganeshi Lal Bajaj LT Loan            CRISIL BBB-    250     -
Charitable Trust Samiti
(Migrated from CRISIL BB+ Issuer Not Cooperating)
Shri Jagannath Prasad Ganeshi Lal Bajaj Rupee TL           CRISIL BBB-    500     Assigned
Charitable Trust Samiti
(Migrated from CRISIL BB+ Issuer Not Cooperating)
Sion Ceramics Pvt Ltd                   CC                 CRISIL B       30      Reaffirmed
Sion Ceramics Pvt Ltd                   Proposed LT Bk     CRISIL B       33.2    Reaffirmed
                                        Loan Fac
Sion Ceramics Pvt Ltd                   TL                 CRISIL B       61.8    Reaffirmed
Skyline Foundations and Structures Pvt  CC                 CRISIL BBB-    150     Withdrawn
Ltd
Swash Nonionics Pvt Ltd                 CC                 -              35      Withdrawn
Swash Nonionics Pvt Ltd                 Proposed LOC       -              5       Withdrawn
Swash Nonionics Pvt Ltd                 Proposed LT Bk     -              90      Withdrawn
                                        Loan Fac
Swash Nonionics Pvt Ltd                 Proposed Packing   -              20      Withdrawn
                                        Credit
Synthokem Labs Pvt Ltd                  CC                 CRISIL BBB-    17      Reaffirmed
Synthokem Labs Pvt Ltd                  Foreign LOC        CRISIL BBB-    40      Reaffirmed
Synthokem Labs Pvt Ltd                  LT Bk Fac          CRISIL BBB-    80      Reaffirmed
Synthokem Labs Pvt Ltd                  LT Loan            CRISIL BBB-    62      Assigned
Tata Capital Ltd                        CC & WC demand loanCRISIL AA+     150     Reaffirmed
Tata Capital Ltd                        Proposed LT Bk     CRISIL AA+     100     Reaffirmed
                                        Loan Fac
Tata Capital Ltd                        PS                 CRISIL AA+     400     Assigned
Tata Capital Ltd                        PS                 CRISIL AA+             Reaffirmed
Tata Capital Ltd                        NCDs               CRISIL AA+             Reaffirmed
Vijai Electricals Ltd                   BG                 -              7565.6  Withdrawn
Vijai Electricals Ltd                   CC                 -              722     Withdrawn
Vijai Electricals Ltd                   LOC                -              1260    Withdrawn
Vijai Electricals Ltd                   LT Loan            -              355.5   Withdrawn
Vijai Electricals Ltd                   Proposed BG        -              2434.4  Withdrawn
Vijai Electricals Ltd                   Proposed CC Limit  -              778     Withdrawn
Vijai Electricals Ltd                   Proposed LOC       -              740     Withdrawn
Vijai Electricals Ltd                   TL                 -              321.5   Withdrawn
Weltime Footwear Pvt Ltd                TL                 CRISIL B-      84      Assigned
Weltime Footwear Pvt Ltd                Open CC            CRISIL B-      45      Assigned
Weltime Footwear Pvt Ltd                Proposed LT Bk     CRISIL B-      0.5     Assigned
                                        Loan Fac
--------------------------------------------------------------------------------------------
$: 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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