May 9, 2018 / 9:34 AM / 16 days ago

CRISIL ratings for Indian debt instruments-May 9

    May 9 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of May 8, 2018.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Adarsh Knitwear Pvt Ltd                 Overdraft          CRISIL A3      40      Reaffirmed
Adarsh Knitwear Pvt Ltd                 Post Shipment      CRISIL A3      30      Reaffirmed
                                        Credit
Agrawal Metal Works Pvt Ltd             BG                 CRISIL A2+     300     Assigned
Bipico Industries (Tools) Pvt Ltd       BG                 CRISIL A4+     1       Reaffirmed
Chemline India Ltd                      LOC                CRISIL A3      50      Reaffirmed
Data Patterns India Pvt Ltd             BG                 CRISIL A3      460     Reaffirmed
Emerging Infrastructure                 Overdraft          CRISIL A4+     40      Reaffirmed
Eswar Rubber Products Pvt Ltd           Standby Line of    CRISIL A4+     22.5    Reassigned
                                        Credit
(Issuer Not Cooperating)
Galaxy Transmissions Pvt Ltd            BG                 CRISIL A4+     430.8   Migrated from
                                                                                  CRISIL A3
(Issuer Not Cooperating)
Galaxy Transmissions Pvt Ltd            Inland/Import LOC  CRISIL A4+     100     Migrated from
                                                                                  CRISIL A3
(Issuer Not Cooperating)
ICICI Securities Primary Dealership Ltd ST Debt            CRISIL A1+     10000   Reaffirmed
Indo Autotech Ltd                       BG                 CRISIL A2+     10      Assigned
Indo Autotech Ltd                       LOC                CRISIL A2+     130     Assigned
Indo Autotech Ltd                       Packing Credit in  CRISIL A2+     220     Assigned
                                        Foreign Currency
Indus Teqsite Pvt Ltd                   BG                 CRISIL A3      15      Reaffirmed
Indus Teqsite Pvt Ltd                   LOC                CRISIL A3      10      Reaffirmed
Jagannath Corporation Projects Pvt Ltd  BG                 CRISIL A4+     20      Migrated from
                                                                                  CRISIL A4+
(Issuer Not Cooperating)
Khatuco Export India Pvt Ltd            Foreign Bill       CRISIL A4+     60      Reaffirmed
                                        Discounting
KVR Automobiles Pvt Ltd                 BG                 CRISIL A4      15      Reaffirmed
KVR Automobiles Pvt Ltd                 Overdraft          CRISIL A4      50      Reaffirmed
Modelama Exports Pvt Ltd                LOC                CRISIL A3+     350     Reaffirmed
MM Engineers Pvt Ltd                    LOC                CRISIL D       25      Downgraded
                                                                                  from CRISIL A4
MM Engineers Pvt Ltd                    BG                 CRISIL D       25      Downgraded
                                                                                  from CRISIL A4
Naresh Exports                          Post Shipment      CRISIL A3      120     Reaffirmed
                                        Credit
Naresh Exports                          Proposed ST Bk     CRISIL A3      60      Reaffirmed
                                        Loan Fac
Natraj Rice Mills Pvt Ltd               BG                 CRISIL A4+     3.4     Rating
                                                                                  Migrated
(Issuer Not Cooperating)
Nipha Enterprises LLP                   BG                 CRISIL A4+     20      Reaffirmed
Nipha Enterprises LLP                   Export Packing     CRISIL A4+     90      Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Nipha Enterprises LLP                   LOC                CRISIL A4+     12.6    Reaffirmed
Nipha Exports Pvt Ltd                   Foreign Bill       CRISIL A3+     200     Reaffirmed
                                        Discounting
Nipha Exports Pvt Ltd                   Foreign LOC        CRISIL A3+     75      Reaffirmed
Nipha Exports Pvt Ltd                   Letter Of GuaranteeCRISIL A3+     75      Reaffirmed
Nipha Exports Pvt Ltd                   Packing Credit     CRISIL A3+     150     Reaffirmed
Nipha Exports Pvt Ltd                   Standby Export     CRISIL A3+     22.9    Reaffirmed
                                        Packing Credit
P.S. Construction Pvt Ltd               BG                 CRISIL A4      100     Reaffirmed
Periyar Polymers Pvt Ltd                LOC                CRISIL A4+     56      Upgraded from
                                                                                  CRISIL A4
Polyhose India Pvt Ltd                  ST Bk Fac          CRISIL A2+     550     Reaffirmed
Premium Ferro Alloys Ltd                BG                 CRISIL A4      10      Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
Premium Ferro Alloys Ltd                LOC                CRISIL A4      20      Migrated from
                                                                                  CRISIL A4
(Issuer Not Cooperating)
R D Fashions Pvt Ltd                    LOC                CRISIL A4      3.5     Reaffirmed
RNM Infra Pvt Ltd                       BG                 CRISIL A4+     55      Assigned
Rockdude Impex Pvt Ltd                  Inland/Import LOC  CRISIL A4+     110     Reaffirmed
Shree Tube Manufacturing Company Pvt LtdBG                 CRISIL A3      2.5     Reaffirmed
Shree Tube Manufacturing Company Pvt LtdLOC                CRISIL A3      15      Reaffirmed
Shubham Civil Projects Pvt Ltd          BG                 CRISIL A3+     395     Reaffirmed
Sky Automobiles                         Inventory Funding  CRISIL A4+     700     Reaffirmed
                                        Fac
Sky Automobiles                         Overdraft          CRISIL A4+     40      Reaffirmed
SNS Technocorp Pvt Ltd                  LOC & BG           CRISIL A4      109     Assigned
Super Gold Suitings Pvt Ltd             Standby Line of    CRISIL A3      20      Reaffirmed
                                        Credit
Win India Exports                       Foreign Bill       CRISIL A4+     90      Reaffirmed
                                        Exchange


LONG TERM RATINGS:
-------------------
Adarsh Knitwear Pvt Ltd                 Export Packing     CRISIL BBB-    130     Reaffirmed
                                        Credit
Adarsh Knitwear Pvt Ltd                 Key CC             CRISIL BBB-    40      Reaffirmed
Adarsh Knitwear Pvt Ltd                 TL                 CRISIL BBB-    360     Reaffirmed
Agrawal Metal Works Pvt Ltd             CC                 CRISIL A-      1450    Assigned
Agrawal Metal Works Pvt Ltd             LT Loan            CRISIL A-      175     Assigned
Agrawal Metal Works Pvt Ltd             Proposed CC Limit  CRISIL A-      150     Assigned
Agrawal Metal Works Pvt Ltd             Proposed FB Bk     CRISIL A-      25      Assigned
                                        Limits
Alliance India                          CC                 CRISIL BBB+    60      Assigned
Alliance India                          LT Loan            CRISIL BBB+    170     Assigned
Anjali Hotels Pvt Ltd                   CC                 CRISIL BB+     80      Reaffirmed
Anjali Hotels Pvt Ltd                   TL                 CRISIL BB+     154.5   Reaffirmed
Apco Vehicles India Pvt Ltd             CC                 CRISIL BBB-    75      Reaffirmed
Apco Vehicles India Pvt Ltd             Inventory Funding  CRISIL BBB-    65      Reaffirmed
                                        Fac
Apco Vehicles India Pvt Ltd             LT Loan            CRISIL BBB-    10      Reaffirmed
Arabian Gold and Diamonds Kayamkulam    CC                 CRISIL BB-     220     Reaffirmed
Asian Fine Cements Pvt Ltd              TL                 CRISIL BBB+    730     Assigned
Asian Fine Cements Pvt Ltd              CC                 CRISIL BBB+    150     Assigned
Asian Fine Cements Pvt Ltd              Proposed LT Bk     CRISIL BBB+    20      Assigned
                                        Loan Fac
Ave Maria Spinning Mills Pvt Ltd        CC                 CRISIL BB-     50      Migrated from
                                                                                  CRISIL BB-
(Issuer Not Cooperating)
Ave Maria Spinning Mills Pvt Ltd        LT Bk Fac          CRISIL BB-     13      Migrated from
                                                                                  CRISIL BB-
(Issuer Not Cooperating)
Ave Maria Spinning Mills Pvt Ltd        LT Loan            CRISIL BB-     32      Migrated from
                                                                                  CRISIL BB-
(Issuer Not Cooperating)
Ave Maria Spinning Mills Pvt Ltd        Proposed LT Bk     CRISIL BB-     5       Migrated from
                                        Loan Fac                                  CRISIL BB-
(Issuer Not Cooperating)
Bipico Industries (Tools) Pvt Ltd       Buyer`s Credit     CRISIL BB-     20      Reaffirmed
Bipico Industries (Tools) Pvt Ltd       CC                 CRISIL BB-     100     Reaffirmed
Bipico Industries (Tools) Pvt Ltd       LT Loan            CRISIL BB-     38      Reaffirmed
Bipico Industries (Tools) Pvt Ltd       Proposed LT Bk     CRISIL BB-     5.5     Reaffirmed
                                        Loan Fac
Chemline India Ltd                      CC                 CRISIL BBB-    190     Reaffirmed
Chemline India Ltd                      LT Loan            CRISIL BBB-    10      Reaffirmed
Cholas Spices Pvt Ltd                   CC                 CRISIL BB      70      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Cholas Spices Pvt Ltd                   Proposed LT Bk     CRISIL BB      25      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB+
Data Patterns India Pvt Ltd             CC                 CRISIL BBB-    140.4   Reaffirmed
Emerging Infrastructure                 Proposed LT Bk     CRISIL BB-     36      Reaffirmed
                                        Loan Fac
Emerging Infrastructure                 TL                 CRISIL BB-     4       Reaffirmed
Emil Traders Pvt Ltd                    Export Packing     CRISIL BB      100     Downgraded
                                        Credit                                    from CRISIL
                                                                                  BB+
Emil Traders Pvt Ltd                    Foreign Bill       CRISIL BB      50      Downgraded
                                        Discounting                               from CRISIL
                                                                                  BB+
Eswar Rubber Products Pvt Ltd           CC                 CRISIL BB      170     Migrated from
                                                                                  CRISIL BB
Eswar Rubber Products Pvt Ltd           Proposed WC Fac    CRISIL BB      77.5    Migrated from
                                                                                  CRISIL BB
(Issuer Not Cooperating)
Express Infratech Pvt Ltd               CC                 CRISIL B+      142     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Galaxy Transmissions Pvt Ltd            CC                 CRISIL BB+     130     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Galaxy Transmissions Pvt Ltd            Channel Financing  CRISIL BB+     160     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Galaxy Transmissions Pvt Ltd            Rupee TL           CRISIL BB+     9.2     Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Galaxy Transmissions Pvt Ltd            WC Demand Loan     CRISIL BB+     90      Migrated from
                                                                                  CRISIL BBB-
(Issuer Not Cooperating)
Goyal Vegoils Ltd                       CC                 CRISIL A-      1300    Reaffirmed
Goyal Vegoils Ltd                       TL                 CRISIL A-      200     Reaffirmed
ICICI Securities Primary Dealership Ltd Tier II Bond       CRISIL AAA     350     Assigned
ICICI Securities Primary Dealership Ltd Tier II Bonds      CRISIL AAA     4900    Reaffirmed
IDFC Asset Management Co. Ltd           IDFC Dynamic Bond  CRISIL AAAmfs  -       Reaffirmed
                                        Fund
IDFC Asset Management Co. Ltd           IDFC Bond Fund -   CRISIL AAAmfs  -       Reaffirmed
                                        LT Plan (Erstwhile
                                        IDFC Super Saver Income Fund - Investment Plan)
Indo Autotech Ltd                       CC                 CRISIL A-      475     Assigned
Indo Autotech Ltd                       Proposed LT Bk     CRISIL A-      635.9   Assigned
                                        Loan Fac
Indo Autotech Ltd                       TL                 CRISIL A-      579.1   Assigned
Indus Teqsite Pvt Ltd                   CC                 CRISIL BBB-    165     Reaffirmed
Indus Teqsite Pvt Ltd                   Export Packing     CRISIL BBB-    90      Reaffirmed
                                        Credit
Indus Teqsite Pvt Ltd                   Foreign Bill       CRISIL BBB-    15      Reaffirmed
                                        Discounting
Indus Teqsite Pvt Ltd                   LT Loan            CRISIL BBB-    58      Reaffirmed
Indus Teqsite Pvt Ltd                   Proposed WC Fac    CRISIL BBB-    105.2   Reaffirmed
Indus Teqsite Pvt Ltd                   Standby Line of    CRISIL BBB-    18      Reaffirmed
                                        Credit
Jagannath Corporation Projects Pvt Ltd  CC                 CRISIL BB      30      Migrated from
                                                                                  CRISIL BB
(Issuer Not Cooperating)
Jagannath Corporation Projects Pvt Ltd  Proposed LT Bk     CRISIL BB      25      Migrated from
                                        Loan Fac                                  CRISIL BB
(Issuer Not Cooperating)
Khatuco Export India Pvt Ltd            Export Packing     CRISIL BB-     19.5    Reaffirmed
                                        Credit
Khatuco Export India Pvt Ltd            Foreign Bill       CRISIL BB-     20      Reaffirmed
                                        Purchase
KVR Automobiles Pvt Ltd                 CC                 CRISIL B+      25      Reaffirmed
KVR Automobiles Pvt Ltd                 Proposed WC Fac    CRISIL B+      30      Reaffirmed
Lincon Polymers Pvt Ltd                 CC                 CRISIL BBB     180     Reaffirmed
M.B. Tea And Allied Products Pvt Ltd    CC                 CRISIL BB+     150     Reaffirmed
Maruti Industries                       CC                 CRISIL BB-     90      Reaffirmed
Maruti Industries                       Proposed LT Bk     CRISIL BB-     10      Reaffirmed
                                        Loan Fac
MM Engineers Pvt Ltd                    CC                 CRISIL D       30      Downgraded
                                                                                  from CRISIL B+
Modelama Exports Pvt Ltd                Export Packing     CRISIL BBB     800     Reaffirmed
                                        Credit
Modelama Exports Pvt Ltd                LT Loan            CRISIL BBB     250     Reaffirmed
Modelama Exports Pvt Ltd                Proposed LT Bk     CRISIL BBB     200     Reaffirmed
                                        Loan Fac
Modelama Exports Pvt Ltd                Standby LOC        CRISIL BBB     150     Reaffirmed
Natraj Rice Mills Pvt Ltd               CC                 CRISIL BB      88.5    Migrated from
                                                                                  CRISIL BB+
(Issuer Not Cooperating)
Natraj Rice Mills Pvt Ltd               LT Loan            CRISIL BB      147     Migrated from
                                                                                  CRISIL BB+
(Issuer Not Cooperating)
Nilachal Refractories Ltd               Proposed LT Bk     CRISIL D       462.5   Rating
                                        Loan Fac                                  Migrated
(Issuer Not Cooperating)
Nipha Enterprises LLP                   LT Loan            CRISIL BB      30.4    Reaffirmed
Nipha Enterprises LLP                   TL                 CRISIL BB      130     Reaffirmed
Nipha Exports Pvt Ltd                   CC                 CRISIL BBB     50      Reaffirmed
Nipha Exports Pvt Ltd                   Proposed LT Bk     CRISIL BBB     30      Reaffirmed
                                        Loan Fac
Nipha Exports Pvt Ltd                   TL                 CRISIL BBB     1.5     Reaffirmed
P.S. Construction Pvt Ltd               Overdraft          CRISIL B+      10      Reaffirmed
P.S. Construction Pvt Ltd               CC                 CRISIL BB+     50      Upgraded from
                                                                                  CRISIL BB
P.S. Construction Pvt Ltd               LT Loan            CRISIL BB+     15      Upgraded from
                                                                                  CRISIL BB
Padmashri Dr. Vitthalrao Vikhe Patil    CC                 CRISIL BB      1500    Downgraded
Sahakari Sakhar Karkhana Ltd                                                      from CRISIL
                                                                                  BB+
Padmashri Dr. Vitthalrao Vikhe Patil    Proposed LT Bk     CRISIL BB      10      Downgraded
Sahakari Sakhar Karkhana Ltd            Loan Fac                                  from CRISIL
                                                                                  BB+
Padmashri Dr. Vitthalrao Vikhe Patil    TL                 CRISIL BB      580     Downgraded
Sahakari Sakhar Karkhana Ltd                                                      from CRISIL
                                                                                  BB+
Periyar Polymers Pvt Ltd                CC                 CRISIL BB-     40      Upgraded from
                                                                                  CRISIL B+
Periyar Polymers Pvt Ltd                TL                 CRISIL BB-     4       Upgraded from
                                                                                  CRISIL B+
Polyhose India Pvt Ltd                  Proposed LT Bk     CRISIL A-      180     Reaffirmed
                                        Loan Fac
Polyhose India Pvt Ltd                  TL                 CRISIL A-      70      Reaffirmed
Premium Ferro Alloys Ltd                CC                 CRISIL B+      20      Migrated from
                                                                                  CRISIL B+
(Issuer Not Cooperating)
Premium Ferro Alloys Ltd                Proposed CC Limit  CRISIL B+      15      Migrated from
                                                                                  CRISIL B+
(Issuer Not Cooperating)
Premsons Motor Udyog Pvt Ltd            CC                 CRISIL BBB     50      Upgraded from
                                                                                  CRISIL BBB-
Premsons Motor Udyog Pvt Ltd            Inventory Funding  CRISIL BBB     600     Upgraded from
                                        Fac                                       CRISIL BBB-
Premsons Motor Udyog Pvt Ltd            Proposed LT Bk     CRISIL BBB     150     Upgraded from
                                        Loan Fac                                  CRISIL BBB-
Purushottam Narayan Gadgil              CC                 CRISIL BBB+    400     Reaffirmed
R D Fashions Pvt Ltd                    CC                 CRISIL B+      54      Reaffirmed
R D Fashions Pvt Ltd                    TL                 CRISIL B+      5       Reaffirmed
RNM Infra Pvt Ltd                       CC                 CRISIL BB-     45      Assigned
Rockdude Impex Pvt Ltd                  CC                 CRISIL BB      30      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
Rockdude Impex Pvt Ltd                  TL                 CRISIL BB      79      Downgraded
                                                                                  from CRISIL
                                                                                  BB+
SB Energy One Pvt Ltd                   TL                 CRISIL A-      11230   Assigned
Shree Tube Manufacturing Company Pvt LtdCC                 CRISIL BBB-    30      Reaffirmed
Shree Tube Manufacturing Company Pvt LtdTL                 CRISIL BBB-    10.5    Reaffirmed
Shubham Civil Projects Pvt Ltd          CC                 CRISIL BBB     200     Reaffirmed
Shubham Civil Projects Pvt Ltd          Proposed WC Fac    CRISIL BBB     5       Reaffirmed
Sky Automobiles                         CC                 CRISIL BB      130     Reaffirmed
Sky Automobiles                         Proposed LT Bk     CRISIL BB      620     Reaffirmed
                                        Loan Fac
Sky Automobiles                         TL                 CRISIL BB      90      Reaffirmed
Sukumaran G                             CC                 CRISIL B-      100     Assigned
Super Gold Suitings Pvt Ltd             CC                 CRISIL BBB-    300     Reaffirmed
Super Gold Suitings Pvt Ltd             TL                 CRISIL BBB-    585     Reaffirmed
Vibhu Coal Pvt Ltd                      CC                 CRISIL B+      62.5    Assigned
Vibhu Coal Pvt Ltd                      Proposed LT Bk     CRISIL B+      22.5    Assigned
                                        Loan Fac
Win India Exports                       Packing Credit     CRISIL BB+     60      Upgraded from
                                                                                  CRISIL BB

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