May 3, 2018 / 6:03 AM / 17 days ago

CRISIL ratings for Indian debt instruments-May 3

    May 3 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 2, 2018.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
AIA Engineering Ltd                     LOC & BG^          CRISIL A1+     500     Reaffirmed
^Bank Guarantee is a sub-limit (of Rs.20 Crore) of the total limit.
Asirvad Microfinance Ltd                CP                 CRISIL A1+     4000    Reaffirmed
Balaji Exports                          Export Packing     CRISIL A4+     80      Assigned
                                        Credit
Balaji Exports                          Foreign Exchange   CRISIL A4+     5       Assigned
                                        Forward
Chambal Fertilisers and Chemicals Ltd   BG                 CRISIL A1+     3000    Reaffirmed
Chambal Fertilisers and Chemicals Ltd   LOC & BG@          CRISIL A1+     12500   Reaffirmed
@ Letter of credit and bank guarantee limits are interchangeable.
Chambal Fertilisers and Chemicals Ltd   Non-FBL            CRISIL A1+     25000   Reaffirmed
Chambal Fertilisers and Chemicals Ltd   Proposed LOC       CRISIL A1+     144     Reaffirmed
Chambal Fertilisers and Chemicals Ltd   CP                 CRISIL A1+     25000   Reaffirmed
Chandra Bhan Anil Kumar Glass Works     LOC                CRISIL A4      6.5     Assigned
Economic Explosives Ltd                 LOC & BG           CRISIL A1+     400     Reaffirmed
Expo Freight Pvt Ltd                    Overdraft          CRISIL A3      66.7    Reaffirmed
HMA Agro Industries Ltd                 Proposed Export    CRISIL A3+     1300    Reaffirmed
                                        Packing Credit
Indus Motor Company Pvt Ltd             BG                 CRISIL A3+     50      Reaffirmed
JBS Enterprises Pvt Ltd                 BG                 CRISIL A4+     110     Reaffirmed
R. S. Food Processes India Pvt Ltd      BG                 CRISIL A4+     100     Reaffirmed
Roop Automotives Ltd                    Packing Credit     CRISIL A1      100     Reaffirmed
Star Rays                               Export Packing     CRISIL A2      2625    Reaffirmed
                                        Credit
Star Rays                               Post Shipment      CRISIL A2      975     Reaffirmed
                                        Credit


MEDIUM TERM RATINGS:
-------------------
Chambal Fertilisers and Chemicals Ltd   FD Programme       FAA            -       Reaffirmed



LONG TERM RATINGS:
-------------------
A. Geeri Pai Gold and Diamonds          CC                 CRISIL B       440     Reaffirmed
A. Geeri Pai Gold and Diamonds          LT Loan            CRISIL B       134     Reaffirmed
A. Geeri Pai Gold and Diamonds          WC Demand Loan     CRISIL B       5       Assigned
Ahinsa Flour Mill Pvt Ltd               CC                 CRISIL BB      50      Reaffirmed
Ahinsa Flour Mill Pvt Ltd               TL                 CRISIL BB      44      Reaffirmed
AIA Engineering Ltd                     CC & WC demand     CRISIL AA+     1000    Reaffirmed
                                        loan*
*Interchangeable with usance bill discounting, export packing credit, foreign bills discounting,
and letter of credit.
Asirvad Microfinance Ltd                Proposed LT Bk     CRISIL A+      10082   Reaffirmed
                                        Loan Fac
Asirvad Microfinance Ltd                TL                 CRISIL A+      9918    Reaffirmed
Asirvad Microfinance Ltd                NCD                CRISIL A+      2500    Reaffirmed
Asirvad Microfinance Ltd                NCD                CRISIL A+      2000    Reaffirmed
Asirvad Microfinance Ltd                NCD                CRISIL A+      1000    Reaffirmed
Asirvad Microfinance Ltd                NCD                CRISIL A+      1250    Reaffirmed
Asirvad Microfinance Ltd                NCD                CRISIL A+      2000    Reaffirmed
Asirvad Microfinance Ltd                NCD                CRISIL A+      2000    Reaffirmed
Asirvad Microfinance Ltd                Subordinated Debt  CRISIL A+      1250    Reaffirmed
Balaji Exports                          TL                 CRISIL BB-     35      Assigned
Bhagavati Rubber Product Industries     CC                 CRISIL BB+     60      -
Issuer Not Cooperating
Bhagavati Rubber Product Industries     Proposed LT Bk     CRISIL BB+     40      -
                                        Loan Fac
Issuer Not Cooperating
Challani Jewellery Mart                 CC                 CRISIL BB-     180     Reaffirmed
Chambal Fertilisers and Chemicals Ltd   CC                 CRISIL AA-     10000   Reaffirmed
Chambal Fertilisers and Chemicals Ltd   External           CRISIL AA-     42073.8 Reaffirmed
                                        Commercial
                                        Borrowings^
^ Equivalent to USD550 million @ 65.74 USD/INR rate
Chambal Fertilisers and Chemicals Ltd   External           CRISIL AA-     691.6   Reaffirmed
                                        Commercial
                                        Borrowings
Chambal Fertilisers and Chemicals Ltd   FB Fac             CRISIL AA-     3000    Reaffirmed
Chambal Fertilisers and Chemicals Ltd   Proposed LT Bk     CRISIL AA-     1364.5  Reaffirmed
                                        Loan Fac
Chambal Fertilisers and Chemicals Ltd   Rupee TL           CRISIL AA-     4661.7  Reaffirmed
Chandra Bhan Anil Kumar Glass Works     LT Loan            CRISIL B       21      Assigned
Chandra Bhan Anil Kumar Glass Works     CC                 CRISIL B       32.5    Assigned
DJ Energy Pvt Ltd                       Proposed LT Bk     CRISIL BBB+    6       Reaffirmed
                                        Loan Fac
DJ Energy Pvt Ltd                       TL                 CRISIL BBB+    5994    Reaffirmed
DJ Energy Pvt Ltd                       WC Fac             CRISIL BBB+    500     Reaffirmed
DRN Hospitalities Pvt Ltd               LT Loan            CRISIL BB-     50      Reaffirmed
DRN Hospitalities Pvt Ltd               Proposed LT Bk     CRISIL BB-     73      Reaffirmed
                                        Loan Fac
Economic Explosives Ltd                 CC                 CRISIL AA      430     Reaffirmed
Economic Explosives Ltd                 CC*                CRISIL AA      420     Reaffirmed
* Interchangibility to nonfund based facility
Economic Explosives Ltd                 Proposed TL        CRISIL AA      1000    Reaffirmed
Economic Explosives Ltd                 TL                 CRISIL AA      1000    Reaffirmed
Expo Freight Pvt Ltd                    CC                 CRISIL BBB-    100     Reaffirmed
Expo Freight Pvt Ltd                    Secured Overdraft  CRISIL BBB-    133.3   Reaffirmed
                                        Fac
Goyal Farm Fresh                        LT Loan            CRISIL B+      88      Assigned
HMA Agro Industries Ltd                 Export Packing     CRISIL BBB     1200    Reaffirmed
                                        Credit
Indel Money Pvt Ltd                     CC                 CRISIL BBB-    152.5   Reaffirmed
Indel Money Pvt Ltd                     Proposed LT Bk     CRISIL BBB-    447.5   Reaffirmed
                                        Loan Fac
Indian Peroxide Ltd                     LT Loan            CRISIL B+      620     Reaffirmed
Indus Motor Company Pvt Ltd             CC                 CRISIL BBB     100     Reaffirmed
Indus Motor Company Pvt Ltd             Inventory Funding  CRISIL BBB     2300    Reaffirmed
                                        Fac
Indus Motor Company Pvt Ltd             LT Loan            CRISIL BBB     120     Reaffirmed
Indus Motor Company Pvt Ltd             WC Demand Loan     CRISIL BBB     250     Assigned
JBS Enterprises Pvt Ltd                 CC                 CRISIL BB      25      Reaffirmed
Kataria Ecotech Pvt Ltd                 TL                 CRISIL B+      148.3   Assigned
Kataria Ecotech Pvt Ltd                 CC                 CRISIL B+      10      Assigned
Kataria Ecotech Pvt Ltd                 Proposed TL        CRISIL B+      1.7     Assigned
Nahar Logistics Park Pvt Ltd            TL                 CRISIL B+      110     Assigned
Nahar Logistics Park Pvt Ltd            Proposed LT Bk     CRISIL B+      12      Assigned
                                        Loan Fac
Nahar Logistics Park Pvt Ltd            Proposed Overdraft CRISIL B+      8       Assigned
                                        Fac
Nath Bio-Genes India Ltd                CC                 CRISIL BBB     595     Upgraded from
                                                                                  CRISIL BBB-
Nath Bio-Genes India Ltd                Proposed LT Bk     CRISIL BBB     5       Upgraded from
                                        Loan Fac                                  CRISIL BBB-
R. S. Food Processes India Pvt Ltd      CC                 CRISIL BB-     30      Reaffirmed
R. S. Food Processes India Pvt Ltd      Proposed LT Bk     CRISIL BB-     57.9    Reaffirmed
                                        Loan Fac
R. S. Food Processes India Pvt Ltd      TL                 CRISIL BB-     5.5     Reaffirmed
Raghuvir Developers and Builders        LT Loan            CRISIL BB+     2400    Migrated from
                                                                                  CRISIL BBB-
Issuer Not Cooperating
Roop Automotives Ltd                    CC                 CRISIL A       1015    Reaffirmed
Roop Automotives Ltd                    Proposed LT Bk     CRISIL A       190     Reaffirmed
                                        Loan Fac
Roop Automotives Ltd                    TL                 CRISIL A       270     Reaffirmed
Roop Automotives Ltd                    WC Fac             CRISIL A       250     Reaffirmed
Sanjivani Paranteral Ltd                BG^                CRISIL D       65      -
(Issuer Not Cooperating) / ^Interchangeable with letter of credit facility
Sanjivani Paranteral Ltd                CC                 CRISIL D       450     -
Issuer Not Cooperating
Sanjivani Paranteral Ltd                Export Bill        CRISIL D       10      -
                                        Purchase
                                        -Discounting
(Issuer Not Cooperating)
Sanjivani Paranteral Ltd                Proposed LT Bk     CRISIL D       88      -
                                        Loan Fac
(Issuer Not Cooperating)
Sanjivani Paranteral Ltd                TL                 CRISIL D       42      -
(Issuer Not Cooperating)
Sathvika                                Proposed LT Bk     CRISIL BB-     10      Assigned
                                        Loan Fac
Sathvika                                CC                 CRISIL BB-     87.5    Assigned
Sathvika                                Cash TL            CRISIL BB-     2.5     Assigned
Sigma Surgical Pvt Ltd                  Proposed LT Bk     CRISIL BBB-    50      Assigned
                                        Loan Fac
SVR Spinning Mills Pvt Ltd              CC                 CRISIL BB-     60      Reaffirmed
SVR Spinning Mills Pvt Ltd              Corporate Loan     CRISIL BB-     88.5    Reaffirmed
SVR Spinning Mills Pvt Ltd              Proposed LT Bk     CRISIL BB-     51.5    Reaffirmed
                                        Loan Fac
Tirupati Wellness LLP                   CC                 CRISIL BB      120     Reaffirmed
Tirupati Wellness LLP                   TL                 CRISIL BB      230     Reaffirmed
Uttar Urja Projects Pvt Ltd             Proposed LT Bk     CRISIL BBB+    5       Reaffirmed
                                        Loan Fac
Uttar Urja Projects Pvt Ltd             TL                 CRISIL BBB+    4805    Reaffirmed
Uttar Urja Projects Pvt Ltd             WC Fac             CRISIL BBB+    400     Reaffirmed

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