May 15, 2018 / 4:32 AM / 2 months ago

CRISIL ratings for Indian debt instruments-May 15

    May 15 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 14, 2018.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Bayer Bioscience Pvt Ltd                Non-FBL#           CRISIL A1+     4.2     Reaffirmed
#Comprises letter of credit and bank guarantee (fully interchangeable)
Bayer Cropscience Ltd                   ST Debt            CRISIL A1+     2000    Reaffirmed
Chandrashekar - Chamarajanagar          CC                 CRISIL A4      40      Reaffirmed
G V G Industries Pvt Ltd                BG                 CRISIL A4+     1       Reaffirmed
G V G Industries Pvt Ltd                LOC                CRISIL A4+     55      Reaffirmed
Gharpure Engineering and Constructions  LOC                CRISIL A3+     625     Assigned
Pvt Ltd
Gharpure Engineering and Constructions  BG                 CRISIL A3+     1375    Assigned
Pvt Ltd
Gupta and Company                       BG                 CRISIL A4      5       Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Gupta and Company                       Foreign Bill       CRISIL A4      70      Downgraded
                                        Purchase                                  from CRISIL
                                                                                  A4+
Gupta and Company                       LOC                CRISIL A4      10      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Gupta and Company                       LOC Bill           CRISIL A4      7.5     Downgraded
                                        Discounting                               from CRISIL
                                                                                  A4+
Gupta and Company                       Packing Credit     CRISIL A4      50      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Mahindra and Mahindra Financial         ST Bk Fac          CRISIL A1+     14500   Reaffirmed
Services Ltd
Mahindra and Mahindra Financial         CP Programme       CRISIL A1+     85000   Reaffirmed
Services Ltd
Savitri Steels and Rerollings Pvt Ltd   BG                 CRISIL A4      10      Reassigned
Savitri Steels and Rerollings Pvt Ltd   LOC                CRISIL A4      35      Reassigned
Spic Fashions Pvt Ltd                   Bills              CRISIL A4      30      Reaffirmed
                                        Discount/Cheque
                                        Purchase
Spic Fashions Pvt Ltd                   Packing Credit     CRISIL A4      35      Reaffirmed
V. Meenal                               BG                 CRISIL A4+     10      Reaffirmed
Vani Constructions                      BG                 CRISIL A4+     20      Assigned

MEDIUM TERM RATINGS:
-------------------
Mahindra and Mahindra Financial         FD Programme       FAAA           -       Reaffirmed
Services Ltd


LONG TERM RATINGS:
-------------------
Akshay Food Impex Pvt Ltd               Export Bill        CRISIL BB-     200     Reaffirmed
                                        Negotiation
Akshay Food Impex Pvt Ltd               Export Packing     CRISIL BB-     120     Reaffirmed
                                        Credit
Akshay Food Impex Pvt Ltd               LT Loan            CRISIL BB-     150     Reaffirmed
Automotive Robotics (India) Pvt Ltd     CC                 CRISIL BB      100     Migrated from
                                                                                  CRISIL BB+
(Issuer Not Cooperating)
Bayer Bioscience Pvt Ltd                FB Fac@            CRISIL AA      255.8   -
Continues on Rating Watch with Negative Implications,@Comprises cash credit, overdraft, and
short-term loans (fully interchangeable)
Bayer Cropscience Ltd                   FB Fac*            CRISIL AA+     1125.5  -
Continues on Rating Watch with Negative Implications,*Fully interchangeable with cash credit,
overdraft, short-term loans, letter of credit, and bank guarante
Bayer Cropscience Ltd                   Proposed LT Bk     CRISIL AA+     154.5   -
                                        Loan Fac
Continues on Rating Watch with Negative Implications
Bayer Pharmaceuticals Pvt Ltd           CC                 CRISIL A+      40      -
Continues on Rating Watch with Negative Implications
Bayer Vapi Pvt Ltd                      LT Bk Fac*         CRISIL AA+     50      -
Continues on Rating Watch with Negative Implications,*Interchangeable with non-fund-based
facilities.
Bayer Vapi Pvt Ltd                      LT Bk Fac          CRISIL AA+     130     -
Continues on Rating Watch with Negative Implications
Bayer Vapi Pvt Ltd                      Proposed LT Bk     CRISIL AA+     20      -
                                        Loan Fac
Continues on Rating Watch with Negative Implications
Chandrashekar - Chamarajanagar          BG                 CRISIL B+      10      Reaffirmed
G V G Industries Pvt Ltd                CC                 CRISIL BB      40      Reaffirmed
Gaur Hari and Co.                       Proposed FB Bk     CRISIL B+      120     Assigned
                                        Limits
Gharpure Engineering and Constructions  CC                 CRISIL BBB     400     Assigned
Pvt Ltd
Gupta and Company                       LT Loan            CRISIL B+      22.5    Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Gupta and Company                       Proposed LT Bk     CRISIL B+      5       Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Hindustan Unilever Ltd                  Proposed FB Bk     CRISIL AAA     5270    CRISIL AAA
                                        Limits
Hindustan Unilever Ltd                  WC Demand Loan^    CRISIL AAA     4730    CRISIL AAA
^HUL is authorized by its board to borrow up to Rs.1000 Crore under a multiple banking
arrangement and this amount is interchangeable with overdraft, export packing credit,
pre-shipment credit, letter of credit, and bank guarantee.
yderabad Handloom Centre               CC                 CRISIL C       60       Migrated from
                                                                                  CRISIL B-
(Issuer Not Cooperating)
Junction Fabrics And Apparels Ltd       CC                 CRISIL BB-     93.1    Migrated
(Issuer Not Cooperating)
Junction Fabrics And Apparels Ltd       LT Bk Fac          CRISIL BB-     0.4     Migrated

(Issuer Not Cooperating)
Kanchi Karpooram Ltd                    Buyer`s Credit     CRISIL B+      60      -
(Issuer Not Cooperating)
Kanchi Karpooram Ltd                    CC                 CRISIL B+      70      -
(Issuer Not Cooperating)
Kanchi Karpooram Ltd                    Proposed LT Bk     CRISIL B+      70      -
                                        Loan Fac
(Issuer Not Cooperating)
Mahavir Eco Projects Pvt Ltd            Drop Line          CRISIL B+      75.5    Migrated from
                                        Overdraft Fac                             CRISIL B
(Issuer Not Cooperating)
Mahavir Eco Projects Pvt Ltd            Proposed LT Bk     CRISIL B+      72      Migrated from
                                        Loan Fac                                  CRISIL B
(Issuer Not Cooperating)
Mahindra and Mahindra Financial         CC                 CRISIL AA+     18520   Reaffirmed
Services Ltd
Mahindra and Mahindra Financial         LT Bk Fac          CRISIL AA+     130717.4Reaffirmed
Services Ltd
Mahindra and Mahindra Financial         Proposed LT Bk     CRISIL AA+     42692.6 Reaffirmed
Services Ltd                            Loan Fac
Mahindra and Mahindra Financial         NCDs               CRISIL AA+     5921    Reaffirmed
Services Ltd
Mahindra and Mahindra Financial         Subordinated Debt  CRISIL AA+     7388    Reaffirmed
Services Ltd                            Programme
Manas Lumba                             LT Loan            CRISIL B+      175.5   Assigned
Payyanur Medical Service and Research   Proposed LT Bk     CRISIL D       15      Reaffirmed
Centre Pvt Ltd                          Loan Fac
Payyanur Medical Service and Research   TL                 CRISIL D       180     Reaffirmed
Centre Pvt Ltd
Phifer India Pvt Ltd                    Line of Credit     CRISIL BB-     15      Assigned
Polmon Instruments Pvt Ltd              CC                 CRISIL BB+     70      Reaffirmed
Polmon Instruments Pvt Ltd              Proposed LT Bk     CRISIL BB+     30      Reaffirmed
                                        Loan Fac
Reliable Cashew Company Pvt Ltd         CC                 CRISIL BBB-    150     Reaffirmed
Rohan Metals Pvt Ltd                    CC                 CRISIL B       140     Reaffirmed
Rohan Metals Pvt Ltd                    Proposed LT Bk     CRISIL B       10      Reaffirmed
                                        Loan Fac
Savitri Steels and Rerollings Pvt Ltd   CC                 CRISIL B+      135     Migrated from
                                                                                  CRISIL B+
(Issuer Not Cooperating)
Savitri Steels and Rerollings Pvt Ltd   Proposed LT Bk     CRISIL B+      70      Migrated from
                                        Loan Fac                                  CRISIL B+
(Issuer Not Cooperating)
Savitri Steels and Rerollings Pvt Ltd   LT Loan            CRISIL B+      50      Migrated from
                                                                                  CRISIL B+
(Issuer Not Cooperating)
Spic Fashions Pvt Ltd                   Proposed LT Bk     CRISIL B+      11.3    Upgraded from
                                        Loan Fac                                  CRISIL B
Spic Fashions Pvt Ltd                   TL                 CRISIL B+      28.7    Upgraded from
                                                                                  CRISIL B
Suryodaya Industries                    CC                 CRISIL B       12.5    Assigned
Suryodaya Industries                    LT Loan            CRISIL B       75      Assigned
Tirumala Comprints Ltd                  CC                 CRISIL B-      88      Reaffirmed
Tirumala Comprints Ltd                  TL                 CRISIL B-      12      Reaffirmed
V. Meenal                               CC                 CRISIL BB-     80      Reaffirmed
V. Meenal                               Proposed CC Limit  CRISIL BB-     35      Reaffirmed
Vani Constructions                      CC                 CRISIL BB-     45      Migrated from
                                                                                  CRISIL B+
(Issuer Not Cooperating)
Vani Constructions                      Proposed LT Bk     CRISIL BB-     5.3     Migrated from
                                        Loan Fac                                  CRISIL B+
(Issuer Not Cooperating)
Vani Constructions                      Rupee TL           CRISIL BB-     4.7     Migrated from
                                                                                  CRISIL B+
(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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