November 12, 2019 / 4:47 AM / 3 months ago

CRISIL ratings for Indian debt instruments-Nov 12

    Nov 12 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 11, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                          (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Al Ammar Frozen Foods Exports Pvt Ltd   BG                 CRISIL A4+     2.5     Reassigned
Alhind Tours And Travels Pvt Ltd        BG                 CRISIL A4+     35      Reaffirmed
Aryan Energy Pvt Ltd                    BG                 CRISIL A3      809
Downgraded from 'CRISIL A3+' ; Placed on 'Rating Watch with Negative implications'
BCH Electric Ltd                        BG                 CRISIL A2      30
Upgraded from 'CRISIL A3+'
BCH Electric Ltd                        LOC & BG           CRISIL A2      140
Upgraded from 'CRISIL A3+'
BCH Electric Ltd                        Proposed ST Bk     CRISIL A2      265
                                        Loan Fac
Upgraded from 'CRISIL A3+'
Bharat Cartons Printers                 BG                 CRISIL A4+     10      Reaffirmed
Bhoomi Natural Products and Exports Pvt Packing Credit in  CRISIL A4      50      Reaffirmed
Ltd                                     Foreign Currency
Binayak Hi-Tech Engineering Pvt Ltd     Packing Credit     CRISIL A4      60      Withdrawn
Capital Electech Pvt Ltd                BG                 CRISIL A4+     640
Rating Reaffirmed and Withdrawn
Capital Electech Pvt Ltd                CC                 CRISIL A4+     10
Rating Reaffirmed and Withdrawn
Gaba Overseas Pvt Ltd                   CC*                CRISIL A3+     180     Withdrawn
*Sublimit of non-fund-based facilities of Rs 6.50 crore
Gaba Overseas Pvt Ltd                   Proposed LOC       CRISIL A3+     80      Withdrawn
Gaba Overseas Pvt Ltd                   Proposed LT Bk     CRISIL A3+     90      Withdrawn
                                        Loan Fac
Gaba Overseas Pvt Ltd                   TL                 CRISIL A3+     200     Withdrawn
Ganga Acrowools Ltd                     Foreign LOC        CRISIL A2+     110     Reaffirmed
Ganga Acrowools Ltd                     LOC                CRISIL A2+     80      Reaffirmed
Ganga Acrowools Ltd                     Non-FBL            CRISIL A2+     50      Reaffirmed
Global Coal and Mining Pvt Ltd          BG                 CRISIL A3+     7000
Downgraded from 'CRISIL A2+' ; Placed on 'Rating Watch with Negative implications'
Godrej Industries Ltd                   CP Programme       CRISIL A1+     10000   Reaffirmed
HRS Process Systems Ltd                 BG                 CRISIL A3+     200     Reaffirmed
HRS Process Systems Ltd                 LOC                CRISIL A3+     50      Reaffirmed
K and T Agro Mills Pvt Ltd              BG                 CRISIL A4+     25
Migrated from 'CRISIL A4+ Issuer Not Cooperating'  
K and T Agro Mills Pvt Ltd              Foreign Bill       CRISIL A4+     5
                                        Purchase
Migrated from 'CRISIL A4+ Issuer Not Cooperating'  
K and T Agro Mills Pvt Ltd              Packing Credit     CRISIL A4+     15
Migrated from 'CRISIL A4+ Issuer Not Cooperating'  
Kakinada Seaports Ltd                   BG                 CRISIL A2      833.6
Issuer Not Cooperating; Rating Withdrawn
Kakinada Seaports Ltd                   LT Loan            CRISIL A2      9243.4
Issuer Not Cooperating; Rating Withdrawn
Kakinada Seaports Ltd                   Proposed LT Bk     CRISIL A2      73
                                        Loan Fac
Issuer Not Cooperating; Rating Withdrawn
KTL Pvt Ltd                             BG                 CRISIL A4+     40
Migrated from 'CRISIL A4+ Issuer Not Cooperating' 
Lakshmi Industrial Corporation -        Overdraft          CRISIL A4+     66
Faridabad
Upgraded from 'CRISIL A4'
M B Rubber Pvt Ltd                      BG                 CRISIL A4+     160     Reaffirmed
Migrated from 'CRISIL A4+ Issuer Not Cooperating'  
M B Rubber Pvt Ltd                      LOC                CRISIL A4+     40      Reaffirmed
Migrated from 'CRISIL A4+ Issuer Not Cooperating'  
Maco Pvt Ltd                            Inland/Import LOC  CRISIL A4      7.5     Reaffirmed
Meenakshi India Ltd                     BG                 CRISIL A4+     2.5     Reaffirmed
Meenakshi India Ltd                     Export Packing     CRISIL A4+     322.5   Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Meenakshi India Ltd                     LOC                CRISIL A4+     5       Reaffirmed
N. C. Nahar                             BG                 CRISIL A3+     650     Reaffirmed
OM Construction                         BG                 CRISIL A4+     37.5    Reaffirmed
OM Construction                         Proposed ST Bk     CRISIL A4+     30      Reaffirmed
                                        Loan Fac
Rajuri Steel Pvt Ltd                    LOC                CRISIL A3      20      Assigned
Rajuri Steel Pvt Ltd                    BG                 CRISIL A3      55      Assigned
Rishu Construction                      BG                 CRISIL A4+     234     Reaffirmed
S. R. Ashok and Associates Pvt Ltd      BG                 CRISIL A4+     500     Reaffirmed
Shri Mahavir Pulses Pvt Ltd             Inland/Import LOC  CRISIL A3      30
Assigned; Suspension Revoked
Sicagen India Ltd                       BG                 CRISIL A4      80
Issuer Not Cooperating; Rating Withdrawn
Sicagen India Ltd                       CC                 CRISIL A4      370
Issuer Not Cooperating; Rating Withdrawn
Sicagen India Ltd                       Channel Financing  CRISIL A4      320
Issuer Not Cooperating; Rating Withdrawn
Sicagen India Ltd                       Proposed LT Bk     CRISIL A4      130
                                        Loan Fac
Issuer Not Cooperating; Rating Withdrawn
Simplex Engineers And Traders           BG                 CRISIL A4      4
Upgraded from 'CRISIL D'

Simplex Engineers And Traders           LOC*               CRISIL A4      65
Upgraded from 'CRISIL D' ;*Interchangeability of Rs 100 Lakh is allowed from LC to CC.
Simplex Engineers And Traders           Proposed ST Bk     CRISIL A4      51
                                        Loan Fac
Upgraded from 'CRISIL D'
Suparna Chemicals Ltd                   BG                 CRISIL A3+     100
Rating Reaffirmed and Withdrawn
Suparna Chemicals Ltd                   CC                 CRISIL A3+     80
Rating Reaffirmed and Withdrawn
Suparna Chemicals Ltd                   LOC*               CRISIL A3+     80
Rating Reaffirmed and Withdrawn ; *Interchangeable with Packing Credit in Foreign Currency of
Rs.4 crore and bank guarantee of Rs.4 crore
Suparna Chemicals Ltd                   Proposed WC Fac    CRISIL A3+     5
Rating Reaffirmed and Withdrawn

LONG TERM RATINGS:
-------------------
ACB India Ltd                           NCD                CRISIL BBB     1050
Downgraded from 'CRISIL A-/Stable' ; Placed on 'Rating Watch with Negative implications' 
Al Ammar Frozen Foods Exports Pvt Ltd   TL                 CRISIL BB/     76      Assigned
                                                           Stable
Migrated from 'CRISIL D Issuer Not Cooperating'  
Al Ammar Frozen Foods Exports Pvt Ltd   Proposed CC Limit  CRISIL BB/     16.5    Assigned
                                                           Stable
Migrated from 'CRISIL D Issuer Not Cooperating'  
Alhind Tours And Travels Pvt Ltd        CC                 CRISIL BB+/    100     Reaffirmed
                                                           Stable
Alhind Tours And Travels Pvt Ltd        LT Loan            CRISIL BB+/    55      Reaffirmed
                                                           Stable
Apollo Creations Pvt Ltd                CC                 -              50      Withdrawn
Apollo Creations Pvt Ltd                Proposed LT Bk     -              100     Withdrawn
                                        Loan Fac
Arora Yarn Pvt Ltd                      CC                 -              50      Withdrawn
Issuer Not Cooperating
Arora Yarn Pvt Ltd                      Proposed LT Bk     -              15      Withdrawn
                                        Loan Fac
Issuer Not Cooperating
Arora Yarn Pvt Ltd                      TL                 -              17      Withdrawn
Issuer Not Cooperating
Aryan Energy Pvt Ltd                    CC                 CRISIL BBB-    150
Downgraded from 'CRISIL BBB/Stable' ; Placed on 'Rating Watch with Negative implications'
Aryan Energy Pvt Ltd                    Proposed LT Bk     CRISIL BBB-    41
                                        Loan Fac
Downgraded from 'CRISIL BBB/Stable' ; Placed on 'Rating Watch with Negative implications'
Avi Global Plast Pvt Ltd                Buyer`s Credit     CRISIL BB+/    230
                                                           Stable
Issuer Not Cooperating; Rating Withdrawn
Avi Global Plast Pvt Ltd                CC                 CRISIL BB+/    210
                                                           Stable
Issuer Not Cooperating; Rating Withdrawn
Avi Global Plast Pvt Ltd                TL                 CRISIL BB+/    50
                                                           Stable
Issuer Not Cooperating; Rating Withdrawn
B. B. International                     CC                 CRISIL BB-/    50      Reaffirmed
                                                           Stable
B. B. International                     Warehouse Receipts CRISIL BB-/    60      Reaffirmed
                                                           Stable
Bajaj Silk Fab Pvt Ltd                  CC                 CRISIL BB/     67.5    Reaffirmed
                                                           Stable
Bajaj Silk Fab Pvt Ltd                  Proposed LT Bk     CRISIL BB/     27.5    Reaffirmed
                                        Loan Fac           Stable
BCH Electric Ltd                        CC                 CRISIL BBB+/   520
                                                           Stable
Upgraded from 'CRISIL BBB/Stable'
BCH Electric Ltd                        Rupee TL           CRISIL BBB+/   5
                                                           Stable
Upgraded from 'CRISIL BBB/Stable'
Bharadwaj Enterprises                   TL                 CRISIL B+/     150     Withdrawn
                                                           Stable 
Bharat Cartons Printers                 CC                 CRISIL BB/     70      Reaffirmed
                                                           Stable
Bharat Cartons Printers                 LT Loan            CRISIL BB/     1.4     Reaffirmed
                                                           Stable
Bharat Cartons Printers                 Proposed LT Bk     CRISIL BB/     28.6    Reaffirmed
                                        Loan Fac           Stable
Binayak Hi-Tech Engineering Pvt Ltd     Foreign Bill       CRISIL         80      Withdrawn
                                        Purchase           B/Stable
Binayak Hi-Tech Engineering Pvt Ltd     Proposed LT Bk     CRISIL         10      Withdrawn
                                        Loan Fac           B/Stable
Durga Rice Mill                         CC                 CRISIL B+/     70      Reaffirmed
                                                           Stable
Durga Rice Mill                         LT Loan            CRISIL B+/     5.1     Reaffirmed
                                                           Stable
Durga Rice Mill                         Proposed CC Limit  CRISIL B+/     24.9    Reaffirmed
                                                           Stable
Ganga Acrowools Ltd                     CC                 CRISIL A-/     90      Reaffirmed
                                                           Positive
Ganga Acrowools Ltd                     CC & WC demand loanCRISIL A-/     500     Reaffirmed
                                                           Positive
Ganga Acrowools Ltd                     LT Loan            CRISIL A-/     300     Reaffirmed
                                                           Positive
Ganga Acrowools Ltd                     Proposed TL        CRISIL A-/     114.1   Reaffirmed
                                                           Positive
Ganga Acrowools Ltd                     TL                 CRISIL A-/     785.9   Reaffirmed
                                                           Positive
GBR Hatcheries Pvt Ltd                  CC                 CRISIL BBB-/   70      Reaffirmed
                                                           Stable
GBR Hatcheries Pvt Ltd                  Key CC             CRISIL BBB-/   30      Reaffirmed
                                                           Stable
Global Coal and Mining Pvt Ltd          CC                 CRISIL BBB     550
Downgraded from 'CRISIL A-/Stable' ; Placed on 'Rating Watch with Negative implications'
Global Coal and Mining Pvt Ltd          TL                 CRISIL BBB     2618.9
Downgraded from 'CRISIL A-/Stable' ; Placed on 'Rating Watch with Negative implications'
Godrej Industries Ltd                   NCD                CRISIL AA/     15000   Assigned
                                                           Stable
Gpa Capital Foods Pvt Ltd               CC                 CRISIL BBB-/   450
                                                           Stable
Assigned; Suspension Revoked
Gpa Capital Foods Pvt Ltd               Proposed LT Bk     CRISIL BBB-/   200
                                        Loan Fac           Stable
Assigned; Suspension Revoked
GPA Foods Pvt Ltd                       CC                 CRISIL BBB-/   300     Assigned
                                                           Stable
GPA Foods Pvt Ltd                       TL                 CRISIL BBB-/   100     Assigned
                                                           Stable
HRS Process Systems Ltd                 CC                 CRISIL BBB/    125.3   Reaffirmed
                                                           Stable
HRS Process Systems Ltd                 Standby Line of    CRISIL BBB/    12.5    Reaffirmed
                                        Credit             Stable
K and T Agro Mills Pvt Ltd              CC                 CRISIL BB-/    25
                                                           Stable
Migrated from 'CRISIL BB-/Stable Issuer Not Cooperating'  
K and T Agro Mills Pvt Ltd              Proposed WC Fac    CRISIL BB-/    30
                                                           Stable
Migrated from 'CRISIL BB-/Stable Issuer Not Cooperating'  
K. M. International                     CC                 CRISIL BB-/    50      Reaffirmed
                                                           Stable
K. M. International                     TL                 CRISIL BB-/    70      Reaffirmed
                                                           Stable
Khemchand Handicraft                    Export Packing     CRISIL BBB-/   60      Reaffirmed
                                        Credit             Stable
Khemchand Handicraft                    Foreign Bill       CRISIL BBB-/   5       Reaffirmed
                                        Purchase           Stable
KTL Pvt Ltd                             CC                 CRISIL BB+/    100
                                                           Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating' 
KTL Pvt Ltd                             Electronic Dealer  CRISIL BB+/    600
                                        Financing          Stable
                                        Scheme(e-DFS)
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating' 
KTL Pvt Ltd                             Inventory Funding  CRISIL BB+/    430
                                        Fac                Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating' 
KTL Pvt Ltd                             Proposed LT Bk     CRISIL BB+/    60
                                        Loan Fac           Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating' 
Kun United Car Trax Pvt Ltd             CC                 CRISIL BB/     60
                                                           Stable
Migrated from 'CRISIL BB/Stable Issuer Not Cooperating'
Kun United Car Trax Pvt Ltd             Inventory Funding  CRISIL BB/     535
                                        Fac                Stable
Migrated from 'CRISIL BB/Stable Issuer Not Cooperating'
Kun United Car Trax Pvt Ltd             Proposed LT Bk     CRISIL BB/     45
                                        Loan Fac           Stable
Migrated from 'CRISIL BB/Stable Issuer Not Cooperating'
Kun United Car Trax Pvt Ltd             WC TL              CRISIL BB/     60
                                                           Stable
Migrated from 'CRISIL BB/Stable Issuer Not Cooperating'
Lakshmi Industrial Corporation -        Proposed LT Bk     CRISIL         21
Faridabad                               Loan Fac           BB-/Stable
Upgraded from 'CRISIL B+/Stable'
M B Rubber Pvt Ltd                      CC                 CRISIL BB-/    100     Reaffirmed
                                                           Stable
Migrated from 'CRISIL BB-/Stable Issuer Not Cooperating'  
M B Rubber Pvt Ltd                      Proposed BG        CRISIL BB-/    7       Reaffirmed
                                                           Stable
Migrated from 'CRISIL BB-/Stable Issuer Not Cooperating'  
Maco Pvt Ltd                            Proposed LT Bk     CRISIL B-/     12.5
                                        Loan Fac           Stable
Downgraded from 'CRISIL B+/Stable'
Maco Pvt Ltd                            Secured Overdraft  CRISIL B-/     60
                                        Fac                Stable
Downgraded from 'CRISIL B+/Stable'
Meenakshi India Ltd                     CC                 CRISIL BB+/    15      Reaffirmed
                                                           Stable
Meenakshi India Ltd                     LT Loan            CRISIL BB+/    2.8     Reaffirmed
                                                           Stable
Meenakshi India Ltd                     Proposed LT Bk     CRISIL BB+/    35.6    Assigned
                                        Loan Fac           Stable
N. C. Nahar                             CC                 CRISIL BBB/    70      Reaffirmed
                                                           Stable
OM Construction                         CC                 CRISIL BB-/    24      Reaffirmed
                                                           Stable
Pansuriya Impex LLP                     Packing Credit     CRISIL D       1276.6
Downgraded from 'CRISIL A4+'
Peethambra Granites Pvt Ltd             TL                 CRISIL BBB/    200
                                                           Stable
Migrated from 'CRISIL BBB-/Stable Issuer Not Cooperating'
Poona Health Services Pvt Ltd           Proposed Rupee TL  -              250     Withdrawn
R.S. Triveni Foods Pvt Ltd              CC                 CRISIL         400
                                                           BBB-/Stable
Assigned; Suspension Revoked
Rajuri Steel Pvt Ltd                    TL                 CRISIL BBB-/   400     Assigned
                                                           Stable
Rajuri Steel Pvt Ltd                    CC                 CRISIL BBB-/   325     Assigned
                                                           Stable
Rishu Construction                      CC                 CRISIL BB/     60
                                                           Stable
Upgraded from 'CRISIL BB-/Stable'
Rishu Construction                      Proposed LT Bk     CRISIL BB/     8.5
                                        Loan Fac           Stable
Upgraded from 'CRISIL BB-/Stable'
S. R. Ashok and Associates Pvt Ltd      Proposed BG        CRISIL BB+/    240     Reaffirmed
                                                           Stable
S. R. Ashok and Associates Pvt Ltd      Proposed LT Bk     CRISIL BB+/    10      Reaffirmed
                                        Loan Fac           Stable
Sharada Industries                      CC                 CRISIL BB+/    180
                                                           Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating'  
Sharada Industries                      TL                 CRISIL BB+/    50
                                                           Stable
Migrated from 'CRISIL BB+/Stable Issuer Not Cooperating'  
Shri Mahavir Pulses Pvt Ltd             CC                 CRISIL BBB-/   80
                                                           Stable
Assigned; Suspension Revoked
Sibrama Newage                          Packing Credit     -              120     Withdrawn
Issuer Not Cooperating
Simplex Engineers And Traders           CC                 CRISIL B-/     5
                                                           Stable
Upgraded from 'CRISIL D'
Zaibunco Industries Pvt Ltd             CC                 CRISIL B+/     100
                                                           Stable
Upgraded from 'CRISIL B/Stable'
Zaibunco Industries Pvt Ltd             TL                 CRISIL B+/     130
                                                           Stable
Upgraded from 'CRISIL B/Stable'
--------------------------------------------------------------------------------------------
$: 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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