May 17, 2018 / 4:40 AM / 2 months ago

CRISIL ratings for Indian debt instruments-May 17

   May 17 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 16, 2018.


COMPANY                                INSTRUMENT          RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                 ----------          ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Anil and Company                        BG                 CRISIL A4+     1       Migrated
(Issuer Not Cooperating)
Anil and Company                        LOC                CRISIL A4+     4.5     Migrated
(Issuer Not Cooperating)
Anil and Company                        Packing Credit     CRISIL A4+     22.5    Migrated
(Issuer Not Cooperating)
Bipin Engineers Pvt Ltd                 BG                 CRISIL A4      5       Withdrawn
Bipin Engineers Pvt Ltd                 LOC                CRISIL A4      5       Withdrawn
BP Plyboard Pvt Ltd                     Letter Of GuaranteeCRISIL A4      2.8     Reaffirmed
BP Plyboard Pvt Ltd                     LOC                CRISIL A4      8       Reaffirmed
Chemgems India Pvt Ltd                  LOC                CRISIL A4      25      Upgraded from
                                                                                  CRISIL D
Chemgems India Pvt Ltd                  Post Shipment      CRISIL A4      1       Upgraded from
                                        Credit                                    CRISIL D
Chemmarathil Cashew Company             Packing Credit     CRISIL D       230     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Devesh Foods and Agro Products Pvt Ltd  BG                 CRISIL A3      50      Reaffirmed
Frontier Alloy Steels Ltd               BG                 CRISIL A2      60      Assigned
Frontier Alloy Steels Ltd               LOC & BG           CRISIL A2      35      Assigned
Frontier Alloy Steels Ltd               LOC                CRISIL A2      50      Assigned
Gaurav Exportrades Pvt Ltd              Packing Credit     CRISIL A4      150     Assigned
GP Global Asphalt Pvt Ltd               LOC                CRISIL A2+(SO) 450
Jeevan Construction Company             BG                 CRISIL A4+     100     Reaffirmed
KH Foges India Pvt Ltd                  Letter Of GuaranteeCRISIL A4      50      Withdrawn
LNM Auto Industries Pvt Ltd             Packing Credit     CRISIL A4+     12      Withdrawn
Mehrotra Buildcon Pvt Ltd               BG                 CRISIL A3+     1020
Mehrotra Buildcon Pvt Ltd               Proposed ST Bk     CRISIL A3+     100
                                        Loan Fac
Pearl Insulations Pvt Ltd               BG                 CRISIL A4+     40      Reaffirmed
Pearl Insulations Pvt Ltd               LOC                CRISIL A4+     60      Reaffirmed
Phoenix ARC Pvt Ltd                     CP                 CRISIL A1+             Reafirmed
(Enhanced from Rs.50 Crore)
Rathi Chempels Pvt Ltd                  Inland/Import LOC  CRISIL A4      27.5    Reaffirmed
Smith Industrial Corporation Pvt Ltd    LOC & BG           CRISIL A4+     15      Reaffirmed
Southern Cooling Towers Pvt Ltd         BG                 CRISIL A4      90      Reaffirmed
Sunil Garg and Co                       BG                 CRISIL A4+     40      Reaffirmed
Swaraj India Industries Ltd             BG                 CRISIL A4+     25      Withdrawn
(Issuer Not Cooperating)

LONG TERM RATINGS:
-------------------
A R Constructions                       LT Loan            CRISIL B+      250     Withdrawn
Ahinsa Flour Mill Pvt Ltd               CC                 CRISIL BB      55      Reaffirmed
Ahinsa Flour Mill Pvt Ltd               TL                 CRISIL BB      46      Reaffirmed
Anil and Company                        Foreign Bill       CRISIL BB-     92      Migrated
                                        Purchase
(Issuer Not Cooperating)
Atul Krishna Preservation And Cold      CC                 CRISIL B+      15      Assigned
Storage Pvt Ltd
Atul Krishna Preservation And Cold      TL                 CRISIL B+      50      Assigned
Storage Pvt Ltd
Bipin Engineers Pvt Ltd                 CC                 CRISIL B-      35      Withdrawn
Bipin Engineers Pvt Ltd                 Proposed LT Bk     CRISIL B-      27.4    Withdrawn
                                        Loan Fac
Bipin Engineers Pvt Ltd                 TL                 CRISIL B-      27.6    Withdrawn
BP Plyboard Pvt Ltd                     CC                 CRISIL B+      45      Reaffirmed
BP Plyboard Pvt Ltd                     Proposed FB Bk     CRISIL B+      26.2    Reaffirmed
                                        Limits
BP Plyboard Pvt Ltd                     TL                 CRISIL B+      28      Reaffirmed
Centech Engineers Pvt Ltd               BG                 CRISIL D       17.5    Migrated
(Issuer Not Cooperating)
Centech Engineers Pvt Ltd               CC                 CRISIL D       85      Migrated
(Issuer Not Cooperating)
Centech Engineers Pvt Ltd               LOC                CRISIL D       20      Migrated
(Issuer Not Cooperating)
Centech Engineers Pvt Ltd               Proposed LT Bk     CRISIL D       2.2     Migrated
                                        Loan Fac
(Issuer Not Cooperating)
Centech Engineers Pvt Ltd               Standby Line of    CRISIL D       12.5    Migrated
                                        Credit
(Issuer Not Cooperating)
Centech Engineers Pvt Ltd               TL                 CRISIL D       12.8    Migrated
(Issuer Not Cooperating)
Chemgems India Pvt Ltd                  CC/ Overdraft Fac  CRISIL B-      45      Upgraded from
                                                                                  CRISIL D
Chemgems India Pvt Ltd                  Export Packing     CRISIL B-      18      Upgraded from
                                        Credit                                    CRISIL D
Chemgems India Pvt Ltd                  Foreign Currency TLCRISIL B-      51.3    Upgraded from
                                                                                  CRISIL D
Chemgems India Pvt Ltd                  LT Loan            CRISIL B-      23      Upgraded from
                                                                                  CRISIL D
Chemgems India Pvt Ltd                  Proposed CC Limit  CRISIL B-      6.7     Upgraded from
                                                                                  CRISIL D
Chemmarathil Cashew Company             CC                 CRISIL D       10      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Deoghar Industries Pvt Ltd              Proposed CC Limit  CRISIL B       60      Assigned
Deoghar Industries Pvt Ltd              TL                 CRISIL B       84.5    Assigned
Devesh Foods and Agro Products Pvt Ltd  CC                 CRISIL BBB-    100     Reaffirmed
Devesh Foods and Agro Products Pvt Ltd  TL                 CRISIL BBB-    280     Reaffirmed
Dinesh Seamless Tubes Pvt Ltd           CC                 CRISIL B-      60      Migrated from
                                                                                  CRISIL B- and
                                                                                  Withdrawn
(Issuer Not Cooperating)
Dinesh Seamless Tubes Pvt Ltd           Proposed LT Bk     CRISIL B-      10      Migrated from
                                        Loan Fac                                  CRISIL B- and
                                                                                  Withdrawn
(Issuer Not Cooperating)
Euroschool Foundation                   TL                 CRISIL A-      450     Assigned
Frontier Alloy Steels Ltd               CC                 CRISIL BBB+    140     Reaffirmed
Gaurav Exportrades Pvt Ltd              CC                 CRISIL B-      20      Assigned
Gaurav Exportrades Pvt Ltd              Foreign LOC        CRISIL B-      20      Assigned
GP Global Asphalt Pvt Ltd               CC                 CRISIL A-(SO)  480
GP Global Asphalt Pvt Ltd               LT Loan            CRISIL A-(SO)  499.7
GP Global Asphalt Pvt Ltd               Rupee TL           CRISIL A-(SO)  94.5
H.M.R. Steels Pvt Ltd                   Proposed LT Bk     CRISIL BB-     30      Assigned
                                        Loan Fac
H.M.R. Steels Pvt Ltd                   CC                 CRISIL BB-     330     Assigned
H.M.R. Steels Pvt Ltd                   Electronic Dealer  CRISIL BB-     50      Assigned
                                        Financing
                                        Scheme(e-DFS)
Interlink Foods Pvt Ltd                 CC                 CRISIL BBB-    150     Reaffirmed
Invest Gold and General Finance Pvt Ltd Proposed LT Bk     CRISIL B+      50      Reaffirmed
                                        Loan Fac
Jasmine Exim                            Proposed Overdraft CRISIL B+      20      Assigned
                                        Fac
Javery Incorporation                    CC                 CRISIL B+      75      Assigned
Jeevan Construction Company             CC                 CRISIL BB      10      Reaffirmed
Jhanwar Rice and Dall Mill              CC                 CRISIL B+      100     Withdrawn
(Issuer Not Cooperating)
Jhanwar Rice and Dall Mill              Proposed LT Bk     CRISIL B+      16.7    Withdrawn
                                        Loan Fac
(Issuer Not Cooperating)
Jhanwar Rice and Dall Mill              TL                 CRISIL B+      13.3    Withdrawn
(Issuer Not Cooperating)
Jhanwar Rice and Dall Mill              Warehouse Receipts CRISIL B+      30      Withdrawn
(Issuer Not Cooperating)
KH Foges India Pvt Ltd                  CC                 CRISIL B       50      Withdrawn
Kriti Prakashan Pvt Ltd                 CC                 CRISIL BB-     110     Withdrawn
Kumaran oil Mill                        CC                 CRISIL BB-     50      Assigned
LNM Auto Industries Pvt Ltd             Bill Discounting   CRISIL BB-     10      Withdrawn
LNM Auto Industries Pvt Ltd             CC                 CRISIL BB-     27.5    Withdrawn
LNM Auto Industries Pvt Ltd             Proposed CC Limit  CRISIL BB-     15.5    Withdrawn
LNM Auto Industries Pvt Ltd             Proposed TL        CRISIL BB-     10      Withdrawn
Mehrotra Buildcon Pvt Ltd               CC                 CRISIL BBB     230
Mehrotra Buildcon Pvt Ltd               Proposed LT Bk     CRISIL BBB     130
                                        Loan Fac
Mehrotra Buildcon Pvt Ltd               WC Demand Loan     CRISIL BBB     20
Milan Tannery                           CC/ Overdraft Fac  CRISIL B-      40      Upgraded from
                                                                                  CRISIL D
Milan Tannery                           Foreign Currency TLCRISIL B-      32      Upgraded from
                                                                                  CRISIL D
Milan Tannery                           LT Loan            CRISIL B-      5       Upgraded from
                                                                                  CRISIL D
Milan Tannery                           Proposed FB Bk     CRISIL B-      13      Upgraded from
                                        Limits                                    CRISIL D
National Trading Company                WC Fac             CRISIL B+      50      Reaffirmed
P.C. Thomas & Co.                       BG                 CRISIL A4      135     Withdrawn
(Issuer Not Cooperating)
P.C. Thomas & Co.                       CC                 CRISIL B+      85      Withdrawn
(Issuer Not Cooperating)
Pearl Insulations Pvt Ltd               CC                 CRISIL BB-     50      Reaffirmed
Pearl Insulations Pvt Ltd               Proposed LT Bk     CRISIL BB-     14      Reaffirmed
                                        Loan Fac
Phoenix ARC Pvt Ltd                     CC                 CRISIL AA      1500    Reaffirmed
Phoenix ARC Pvt Ltd                     Overdraft          CRISIL AA      1000    Reaffirmed
Phoenix ARC Pvt Ltd                     NCD                CRISIL AA              Reafirmed
Punjab National Bank                    Tier I Bonds       CRISIL AA      30000   @
                                        (Under Basel III)                         
Punjab National Bank                    Infrastructure     CRISIL AAA     50000   @
                                        Bonds                                     
Punjab National Bank                    Tier-II Bonds      CRISIL AAA     35000   @
                                        (Under Basel III)                         
Punjab National Bank                    Tier-I Perpetual   CRISIL AAA     26630   @
                                        Bonds (Under Basel                        
                                        II)                                       
Punjab National Bank                    Upper Tier-II      CRISIL AAA     75000   @
                                        Bonds (Under Basel                        
                                        II)                                        
Punjab National Bank                    Lower Tier-II      CRISIL AAA     5600    @
                                        Bonds (Under Basel                        
                                        II)                                       
R. K. Fiber                             Warehouse FinancingCRISIL B+      20      Assigned
R. K. Fiber                             CC                 CRISIL B+      70      Assigned
R. K. Fiber                             LT Loan            CRISIL B+      10      Assigned
R. Rama Rao                             BG                 CRISIL A4+     15      Withdrawn
(Issuer Not Cooperating)
R. Rama Rao                             Secured Overdraft  CRISIL BB-     65      Withdrawn
                                        Fac
(Issuer Not Cooperating)
Rajdhani Paints Pvt Ltd                 CC                 CRISIL BB      150     Reaffirmed
Ramgo Modern Rice Mill                  CC                 CRISIL B       50      Reaffirmed
Rathi Chempels Pvt Ltd                  CC/ Overdraft Fac  CRISIL B-      50      Reaffirmed
Rathi Chempels Pvt Ltd                  Proposed FB Bk     CRISIL B-      12.5    Reaffirmed
                                        Limits
Sai Mahaavir Developers                 TL                 CRISIL B       200     Withdrawn
Shree Dwarkadhish Udyog Pvt Ltd         CC                 CRISIL D       100     Downgraded
                                                                                  from CRISIL B
(Issuer Not Cooperating)
Shri Durga Loha Bhandar Pvt Ltd         CC                 CRISIL BB-     100     Assignd;
                                                                                  Suspension
                                                                                  Revoked
Smith Industrial Corporation Pvt Ltd    CC                 CRISIL BB-     46      Reaffirmed
Smith Industrial Corporation Pvt Ltd    LT Loan            CRISIL BB-     18      Reaffirmed
Smith Industrial Corporation Pvt Ltd    Proposed LT Bk     CRISIL BB-     21      Reaffirmed
                                        Loan Fac
Southern Cooling Towers Pvt Ltd         CC                 CRISIL B-      110     Reaffirmed
Southern Cooling Towers Pvt Ltd         LT Loan            CRISIL B-      7.9     Reaffirmed
Southern Cooling Towers Pvt Ltd         Proposed FB Bk     CRISIL B-      92.1    Reaffirmed
                                        Limits
Sri Aditya Homes Pvt Ltd                CC                 CRISIL B       140     Withdrawn
(Issuer Not Cooperating)
Sri Aditya Homes Pvt Ltd                Proposed CC Limit  CRISIL B       40      Withdrawn
(Issuer Not Cooperating)
Sri Aditya Homes Pvt Ltd                Proposed LT Bk     CRISIL B       120     Withdrawn
                                        Loan Fac
(Issuer Not Cooperating)
Sri Hanuman Trading Company             Warehouse Receipts CRISIL B       100     Assigned
Sunil Garg and Co                       CC                 CRISIL BB-     110     Reaffirmed
Swaraj India Industries Ltd             CC                 CRISIL BB+     500     Withdrawn
(Issuer Not Cooperating)
Swaraj India Industries Ltd             Proposed LT Bk     CRISIL BB+     860     Withdrawn
                                        Loan Fac
(Issuer Not Cooperating)
Swaraj India Industries Ltd             TL                 CRISIL BB+     265     Withdrawn
(Issuer Not Cooperating)
Vinod Rice Mill Pvt Ltd                 CC                 CRISIL BB+/    700     Reaffirmed
                                                                                  and Withdrawn
Vinod Rice Mill Pvt Ltd                 Warehouse FinancingCRISIL BB+/    150     Reaffirmed
                                                                                  and Withdrawn
-------------------------------------------------------------------------------------------
$: 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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