November 13, 2019 / 5:40 AM / 25 days ago

CRISIL ratings for Indian debt instruments-Nov 13

    Nov 13 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 12, 2019.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Bee Path Castings Pvt Ltd               LOC                CRISIL A4+     9       Reaffirmed
Biorad Medisys Pvt Ltd                  LOC                CRISIL A4+     30      Reaffirmed
Hmtd Engineering Pvt Ltd                LOC                CRISIL A4+     25      Assigned
Krishnaping Minerals Pvt Ltd            LOC                CRISIL A4+     60      Reaffirmed
Minmat Ferro Alloys Pvt Ltd             BG                 CRISIL A4+     1       Reaffirmed
Minmat Ferro Alloys Pvt Ltd             LOC                CRISIL A4+     25      Reaffirmed
Praj HiPurity Systems Ltd               LOC & BG           CRISIL A1      200     Reaffirmed
Praj HiPurity Systems Ltd               CP                 CRISIL A1      200     Reaffirmed
S. R. Thorat Milk Products Pvt Ltd      BG                 CRISIL A3+     10      Reaffirmed
Sawan Engineers Pvt Ltd                 BG                 CRISIL A3      110     Reaffirmed
Sawan Engineers Pvt Ltd                 LOC                CRISIL A3      80      Reaffirmed
Vikas Road Carriers Ltd                 BG                 CRISIL A4      40      Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Whitegold Ceramics Pvt Ltd              BG                 CRISIL A4      16.5    Assigned
Suspension Revoked

LONG TERM RATINGS:
-------------------
Araxxa Foods Pvt Ltd                    CC                 CRISIL         60      Reaffirmed
                                                           BB-/Stable
Araxxa Foods Pvt Ltd                    TL                 CRISIL         8       Reaffirmed
                                                           BB-/Stable
Basant                                  Export Packing     CRISIL         115     Upgraded from
                                        Credit             BB+/Stable             CRISIL
                                                                                  BB/Stable
Basant                                  Proposed LT Bk     CRISIL         135     Upgraded from
                                        Loan Fac           BB+/Stable             CRISIL
                                                                                  BB/Stable
Bee Path Castings Pvt Ltd               CC                 CRISIL         46      Reaffirmed
                                                           BB-/Stable
Bee Path Castings Pvt Ltd               LT Loan            CRISIL         17      Reaffirmed
                                                           BB-/Stable
Bee Path Castings Pvt Ltd               Proposed LT Bk     CRISIL         18      Reaffirmed
                                        Loan Fac           BB-/Stable
Bhoomi Textiles                         CC                 CRISIL         60      Assigned
                                                           BB+/Stable
Biorad Medisys Pvt Ltd                  CC                 CRISIL         300     Reaffirmed
                                                           BB+/Stable
Biorad Medisys Pvt Ltd                  Proposed TL        CRISIL         30      Reaffirmed
                                                           BB+/Stable
Biorad Medisys Pvt Ltd                  TL                 CRISIL         110     Reaffirmed
                                                           BB+/Stable
Frontier Logistics                      CC                 CRISIL         55      Reaffirmed
                                                           BB-/Stable
Frontier Logistics                      TL                 CRISIL         25      Reaffirmed
                                                           BB-/Stable
Ginger Infrastructure Pvt Ltd           LT Loan            CRISIL D       300     Reaffirmed
Hmtd Engineering Pvt Ltd                CC                 CRISIL         55      Assigned
                                                           BB/Stable
Horizon Packs Pvt Ltd                   CC                 CRISIL         500     Reaffirmed
                                                           A-/Positive
Horizon Packs Pvt Ltd                   TL                 CRISIL         506     Reaffirmed
                                                           A-/Positive
Horizon Packs Pvt Ltd                   Proposed LT Bk     CRISIL         14      Reaffirmed
                                        Loan Fac           A-/Positive
IRB PP Project Pvt Ltd                  Rupee TL*          CRISIL         6168    Withdrawn
                                                           A-/Stable
*Includes a sub-limit of mobilisation advance bank guarantee of Rs 143 crore
IRB PP Project Pvt Ltd                  Rupee TL           CRISIL         270     Withdrawn
                                                           A-/Stable
IRB PS Highway Pvt Ltd                  Rupee TL*          CRISIL         10289   Withdrawn
                                                           A-/Stable
*Includes a sub-limit of mobilisation advance bank guarantee of Rs 239 crore
IRB PS Highway Pvt Ltd                  Rupee TL           CRISIL         407     Withdrawn
                                                           A-/Stable
Krishna Traders (Sheet Division) -      CC                 CRISIL BB-     80      Reaffirmed
Sangli
Krishna Traders (Sheet Division) -      Channel Financing  CRISIL BB-     98.5    Reaffirmed
Sangli
Krishna Traders (Sheet Division) -      LT Loan            CRISIL BB-     30      Reaffirmed
Sangli
Krishna Traders (Sheet Division) -      Proposed WC Fac    CRISIL BB-     41.5    Reaffirmed
Sangli
Krishnaping Minerals Pvt Ltd            CC                 CRISIL         200     Reaffirmed
                                                           BB/Stable
Krishnaping Minerals Pvt Ltd            TL                 CRISIL         100     Reaffirmed
                                                           BB/Stable
L M J Services Ltd                      Electronic Dealer  CRISIL         50      Migrated from
                                        Financing          BB/Stable              CRISIL
                                        Scheme(e-DFS)                             BB/Stable
(Issuer Not Cooperating)
L M J Services Ltd                      Inventory Funding  CRISIL         150     Migrated from
                                        Fac                BB/Stable              CRISIL
                                                                                  BB/Stable
(Issuer Not Cooperating)

Majumder Agro Industries Pvt Ltd        CC                 CRISIL         100     Reaffirmed
                                                           BB/Stable
Majumder Agro Industries Pvt Ltd        Proposed CC Limit  CRISIL         50      Reaffirmed
                                                           BB/Stable
Minmat Ferro Alloys Pvt Ltd             CC                 CRISIL         55      Reaffirmed
                                                           BB-/Stable
Minmat Ferro Alloys Pvt Ltd             Proposed LT Bk     CRISIL         66.5    Reaffirmed
                                        Loan Fac           BB-/Stable
Praj HiPurity Systems Ltd               CC                 CRISIL         500     Reaffirmed
                                                           A+/Stable
Rudra Automart Pvt Ltd                  CC                 CRISIL         190     Reaffirmed
                                                           BB+/Stable
Rudra Automart Pvt Ltd                  Inventory Funding  CRISIL         10      Reaffirmed
                                        Fac                BB+/Stable
S. R. Thorat Milk Products Pvt Ltd      CC                 CRISIL         40      Reaffirmed
                                                           BBB/Stable
S. R. Thorat Milk Products Pvt Ltd      Proposed LT Bk     CRISIL         15      Reaffirmed
                                        Loan Fac           BBB/Stable
S. R. Thorat Milk Products Pvt Ltd      Proposed Rupee TL  CRISIL         800     Reaffirmed
                                                           BBB/Stable
S. R. Thorat Milk Products Pvt Ltd      Rupee TL           CRISIL         115     Reaffirmed
                                                           BBB/Stable
Sadbhav Bhavnagar Highway Pvt Ltd       LT Loan            CRISIL         4344.9  Downgraded
                                                           BBB/Stable             from CRISIL
                                                                                  BBB+/Stable
Sadbhav Rudrapur Highway Pvt Ltd        LT Loan            CRISIL         3542.4  Downgraded
                                                           BBB-/Stable            from CRISIL
                                                                                  BBB/Stable
Sam Industrial Enterprises Ltd          BG                 CRISIL D       10      Downgraded
                                                                                  from CRISIL
                                                                                  B-/Stable
(Issuer Not Cooperating)
Sam Industrial Enterprises Ltd          CC                 CRISIL D       75      Downgraded
                                                                                  from CRISIL
                                                                                  B-/Stable
(Issuer Not Cooperating)
Sam Industrial Enterprises Ltd          Overdraft          CRISIL D       15      Downgraded
                                                                                  from CRISIL
                                                                                  B-/Stable
(Issuer Not Cooperating)
Sawan Engineers Pvt Ltd                 CC                 CRISIL         210     Reaffirmed
                                                           BBB-/Positive
Sawan Engineers Pvt Ltd                 TL                 CRISIL         90      Reaffirmed
                                                           BBB-/Positive
Sterimax Engineering Pvt Ltd            CC                 CRISIL         10      Reaffirmed
                                                           BB+/Stable
Outlook revised from Stable
Sterimax Engineering Pvt Ltd            Rupee TL           CRISIL         110     Reaffirmed
                                                           BB+/Stable
Outlook revised from Stable
Takshi Auto Components Pvt Ltd          CC                 CRISIL         75      Reaffirmed
                                                           BB+/Stable
Takshi Auto Components Pvt Ltd          TL                 CRISIL         95      Reaffirmed
                                                           BB+/Stable
Vikas Road Carriers Ltd                 CC                 CRISIL B/Stable220     Downgraded
                                                                                  from CRISIL
                                                                                  BB/Stable
Vikas Road Carriers Ltd                 Proposed LT Bk     CRISIL B/Stable10      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB/Stable
Whitegold Ceramics Pvt Ltd              CC                 CRISIL B/Stable30      Assigned
(Suspension Revoked)
Whitegold Ceramics Pvt Ltd              Corporate Loan     CRISIL B/Stable30      Assigned
(Suspension Revoked)
Whitegold Ceramics Pvt Ltd              Proposed CC Limit  CRISIL B/Stable28.5    Assigned
(Suspension Revoked)
--------------------------------------------------------------------------------------------
$: 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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