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CRISIL ratings for Indian debt instruments-Nov 16
November 16, 2017 / 6:03 AM / 25 days ago

CRISIL ratings for Indian debt instruments-Nov 16

   Nov 16 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 15, 2017.


COMPANY                                 INSTRUMENT         RATING        AMOUNT   MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ankush Enterprise                       LOC                CRISIL A4+     300     Assigned
Bajaj Steel Industries Ltd              BG                 CRISIL A3      5       Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Bajaj Steel Industries Ltd              LOC                CRISIL A3      60      Downgraded
                                                                                  from CRISIL
                                                                                  A3+
Bajaj Steel Industries Ltd              LOC & BG#          CRISIL A3      70      Downgraded
                                                                                  from CRISIL
                                                                                  A3+
#Includes sublimit for bank guarantee of Rs 5.0 crore
Bayer Bioscience Pvt Ltd                Non-FBL#           CRISIL A1+     4.2     Reaffirmed
# Comprises letter of credit and bank guarantee (fully interchangeable)
Champ Energy Ventures Pvt Ltd           LOC                CRISIL A4+     50      Reaffirmed
Filtrum Fibretechnologies Pvt Ltd       LOC                CRISIL A1      17      Reaffirmed
Frontier Knitters Pvt Ltd               BG                 CRISIL A4      1       Upgraded from
                                                                                  CRISIL D
Frontier Knitters Pvt Ltd               Foreign Bill       CRISIL A4      160     Upgraded from
                                        Discounting                               CRISIL D
Frontier Knitters Pvt Ltd               LOC                CRISIL A4      10      Upgraded from
                                                                                  CRISIL D
NCL Industries Ltd                      LOC                CRISIL A2      5       Assigned
NCL Industries Ltd                      BG                 CRISIL A2      45      Assigned
Mini Diamonds India Ltd                 Export Packing     CRISIL D       60      Downgraded
                                        Credit & Export                           from CRISIL
                                        Bills Negotiation/Foreign Bill discountingA4
Prasanthi Cashew Company Pvt Ltd        Proposed ST Bk     CRISIL A4      40      Reaffirmed
                                        Loan Fac
SBL Energy Ltd                          LOC                CRISIL A3      20      Assigned
Sonu Exim Pvt Ltd                       Bill Discounting   CRISIL A3+     50      Assigned

LONG TERM RATINGS:
-------------------
Ace Motors Pvt Ltd                      CC                 CRISIL BB+     100     Reaffirmed
Ace Motors Pvt Ltd                      Inventory Funding  CRISIL BB+     15      Reaffirmed
                                        Fac
Ace Motors Pvt Ltd                      Proposed CC Limit  CRISIL BB+     45      Reaffirmed
Ace Motors Pvt Ltd                      Proposed LT Bk     CRISIL BB+     40      Assigned
                                        Loan Fac
Ankush Enterprise                       CC                 CRISIL BB      100     Assigned
Arjun Educational Trust                 Cash TL            CRISIL D       50      Downgraded
                                                                                  from CRISIL B
Arjun Educational Trust                 Overdraft          CRISIL D       5       Downgraded
                                                                                  from CRISIL B
Arjun Educational Trust                 Proposed LT Bk     CRISIL D       45      Downgraded
                                        Loan Fac                                  from CRISIL B
Ashoka Belgaum Dharwad Tollway Ltd      TL                                4541.3  Withdrawal
Bajaj Steel Industries Ltd              CC@                CRISIL BBB-    300     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
@Includes sublimit for packing credit/post-shipment credit/export packing 
 credit/pre-shipment credit in foreign currency/foreign bill purchase/post-shipment 
 credit in foreign currency of Rs 10.0 crore 
Bajaj Steel Industries Ltd              CC                 CRISIL BBB-    140     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Bajaj Steel Industries Ltd              TL*                CRISIL BBB-    42.5    Downgraded
                                                                                  from CRISIL
                                                                                  BBB
*Includes sublimit for standby letter of credit/letter of undertaking of Rs 2.84 crore
Bajaj Steel Industries Ltd              TL                 CRISIL BBB-    18.3    Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Bayer Bioscience Pvt Ltd                FB Fac@            CRISIL AA      255.8   Reaffirmed
@ Comprises cash credit, overdraft, and short-term debt (fully interchangeable)
Bayer Pharmaceuticals Pvt Ltd           CC                 CRISIL A+      40      Reaffirmed
Bayer Vapi Pvt Ltd                      LT Bk Fac*         CRISIL AA+     50      Reaffirmed
*Interchangeable with non-fund-based facilities
Bayer Vapi Pvt Ltd                      LT Bk Fac          CRISIL AA+     130     Reaffirmed
Bayer Vapi Pvt Ltd                      Proposed LT Bk     CRISIL AA+     20      Reaffirmed
                                        Loan Fac
Champ Energy Ventures Pvt Ltd           CC                 CRISIL BB-     60      Reaffirmed
Champ Energy Ventures Pvt Ltd           Proposed LT Bk     CRISIL BB-     270     Reaffirmed
                                        Loan Fac
Dayal Cotspin Ltd                       CC                 CRISIL BB      200     Reaffirmed
Dayal Cotspin Ltd                       Proposed LT Bk     CRISIL BB      80      Reaffirmed
                                        Loan Fac
Filtrum Fibretechnologies Pvt Ltd       CC^                CRISIL A       15      Reaffirmed
^Interchangeable with Letter of Credit
Filtrum Fibretechnologies Pvt Ltd       Packing Credit     CRISIL A       12.5    Reaffirmed
Filtrum Fibretechnologies Pvt Ltd       Proposed FB Bk     CRISIL A       5.5     Reaffirmed
                                        Limits
Filtrum Fibretechnologies Pvt Ltd       Proposed TL        CRISIL A       100     Reaffirmed
Frontier Knitters Pvt Ltd               Export Packing     CRISIL B+      200     Upgraded from
                                        Credit                                    CRISIL D
Frontier Knitters Pvt Ltd               LT Loan            CRISIL B+      220     Upgraded from
                                                                                  CRISIL D
Frontier Knitters Pvt Ltd               Proposed LT Bk     CRISIL B+      67      Upgraded from
                                        Loan Fac                                  CRISIL D
Frontier Knitters Pvt Ltd               Standby Line of    CRISIL B+      37      Upgraded from
                                        Credit                                    CRISIL D

Inox Renewables Ltd                     LT Loan            CRISIL A-      1188.3  Reaffirmed
Inox Renewables Ltd                     LT Loan                           377.4   Assigned
Inox Renewables Ltd                     External                          3248.4  Withdrawal
                                        Commercial
                                        Borrowings*
*Converted @Rs 64.8386/USD 
Madhuban Builders                       TL                 CRISIL D       80      Reaffirmed
Mini Diamonds India Ltd                 CC                 CRISIL D       20      Downgraded
                                                                                  from CRISIL B
Mini Diamonds India Ltd                 Proposed LT Bk     CRISIL D       10      Downgraded
                                        Loan Fac                                  from CRISIL B
NCL Industries Ltd                      Proposed LT Bk     CRISIL BBB+    200     Assigned
                                        Loan Fac
NCL Industries Ltd                      CC                 CRISIL BBB+    750     Assigned
Nitika Pharmaceuticals Specialities Pvt CC                 CRISIL BB      129     Reaffirmed
Ltd
Nitika Pharmaceuticals Specialities Pvt Proposed LT Bk     CRISIL BB      112.1   Reaffirmed
Ltd                                     Loan Fac
Nitika Pharmaceuticals Specialities Pvt TL                 CRISIL BB      8.9     Reaffirmed
Ltd
Prasanthi Cashew Company Pvt Ltd        Packing Credit     CRISIL B+      300     Reaffirmed
Prisha Tubes Pvt Ltd                    CC                 CRISIL BB      33      Assigned
Prisha Tubes Pvt Ltd                    LT Loan            CRISIL BB      18      Assigned
S.P. Lifestyles                         CC                 CRISIL BB      50      Upgraded from
                                                                                  CRISIL BB-
SBL Energy Ltd                          CC                 CRISIL BBB-    100     Assigned
SBL Energy Ltd                          Proposed CC Limit  CRISIL BBB-    85      Assigned
SBL Energy Ltd                          TL                 CRISIL BBB-    45      Assigned
SBL Energy Ltd                          Proposed TL        CRISIL BBB-    50      Assigned
Seawood Multiple Services LLP           Proposed TL        CRISIL B       170     Assigned
Shri J.G. Cooperative Hospital Society  Cash TL            CRISIL BB+     65      Assigned
Ltd
Shri J.G. Cooperative Hospital Society  Proposed LT Bk     CRISIL BB+     35      Assigned
Ltd                                     Loan Fac
Sonu Exim Pvt Ltd                       Export Packing     CRISIL BBB     150     Assigned
                                        Credit
Swadeshi Aluminium Company Pvt Ltd      CC                 CRISIL B       230     Assigned
--------------------------------------------------------------------------------------------
$: 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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