November 17, 2017 / 7:04 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Nov 17

    Nov 17 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 16, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Dhundhwal Brothers                      BG                 CRISIL A4+     60      Assigned
Dudi and Company                        BG                 CRISIL A4+     120     Assigned

ECL Finance Ltd                         ST Debt Issue*     CRISIL A1+     30000   Assigned
*Assigned for initial/ follow-on public offer financing on episodic basis.

ECL Finance Ltd                         ST Debt Issue*     CRISIL A1+     50000   Withdrawal
*Assigned for initial/ follow-on public offer financing on episodic basis.

ECL Finance Ltd                         ST Debt Issue*     CRISIL A1+     50000   Withdrawal
*Assigned for initial/ follow-on public offer financing on episodic basis.

ECL Finance Ltd                         ST Debt Issue*     CRISIL A1+     45000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis.

ECL Finance Ltd                         ST Debt (Including CRISIL A1+     36000   Reaffirmed
                                        ST NCD) 

ECL Finance Ltd                         ST Principal-      CRISIL PP -    12000   Reaffirmed
                                        -Protected Market   MLD A1+r
                                        -Linked Debentures

Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     10000   Assigned
*Assigned for initial/ follow-on public offer financing on episodic basis.

Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     60000   Withdrawal
*Assigned for initial/ follow-on public offer financing on episodic basis.

Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     60000   Withdrawal
*Assigned for initial/ follow-on public offer financing on episodic basis.

Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     40000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis.

Edelweiss Commodities Services Ltd      ST Debt (Including CRISIL A1+     70000   Reaffirmed
                                        ST NCD)
Edelweiss Commodities Services Ltd      ST Bk Fac          CRISIL A1+     600     Reaffirmed

Edelweiss Commodities Services Ltd      Standby LOC        CRISIL A1+     1520    Reaffirmed

Edelweiss Financial Services Ltd        ST Debt Issue*     CRISIL A1+     20000   Assigned
*Assigned for initial public offering/ open offer financing on episodic basis.

Edelweiss Financial Services Ltd        ST Debt Issue*     CRISIL A1+     50000   Withdrawal
*Assigned for initial public offering/ open offer financing on episodic basis.

Edelweiss Financial Services Ltd        ST Debt Issue*     CRISIL A1+     50000   Withdrawal
*Assigned for initial public offering/ open offer financing on episodic basis.

Edelweiss Financial Services Ltd        ST Debt Issue*     CRISIL A1+     45000   Reaffirmed
*Assigned for initial public offering/ open offer financing on episodic basis.

Edelweiss Financial Services Ltd        ST Debt            CRISIL A1+     63500   Reaffirmed
Green Vege Exports Pvt Ltd              Packing Credit     CRISIL A4      40      Assigned

JK Lakshmi Cement Ltd                   CP*                CRISIL A1+     3200    Assigned
*Assigned for initial public offering/ open offer financing on episodic basis.

JSL Industries Ltd                      BG                 CRISIL A4+     97      Downgraded
                                                                                  from CRISIL
                                                                                  A3
JSL Industries Ltd                      LOC                CRISIL A4+     13      Downgraded
                                                                                  from CRISIL
                                                                                  A3
Kamala Cold Storage Pvt Ltd             BG                 CRISIL A4      1.5     Reaffirmed
Kerala Electrical and Allied Engg. Co.  BG                 CRISIL A4      81      Reaffirmed
Ltd
Kerala Electrical and Allied Engg. Co.  Bill Purchase      CRISIL A4      3       Reaffirmed
Ltd
Kerala Electrical and Allied Engg. Co.  LOC                CRISIL A4      60      Reaffirmed
Ltd
Manappuram Home Finance Pvt Ltd         CP                 CRISIL A1+     250     Reaffirmed
Ronak Rocks Pvt Ltd                     Export Packing     CRISIL A4+     110     Reaffirmed
                                        Credit
Issuer Not Cooperating
Ronak Rocks Pvt Ltd                     Foreign Bill       CRISIL A4+     170     Reaffirmed
                                        Purchase
Issuer Not Cooperating
Ronak Rocks Pvt Ltd                     Packing Credit     CRISIL A4+     60      Reaffirmed
Issuer Not Cooperating
V.K. Gupta and Associates               BG                 CRISIL A4+     155     Upgraded from
                                                                                  CRISIL A4
Vedant Fashions Pvt Ltd                 CP Programme       CRISIL A1+     500     Continues on
                                                                                  Rating Watch
                                                                                  With
                                                                                  Developing
                                                                                  Implications')
Western Outdoor Structures Pvt Ltd      BG                 CRISIL A4+     30      Assigned

LONG TERM RATINGS:
-------------------
Aameya Polymers LLP                     CC                 CRISIL B+      100     Assigned
Aameya Polymers LLP                     TL                 CRISIL B+      50      Assigned
Bayer Cropscience Ltd                   FB Fac*            CRISIL AA+     1125.5  Reaffirmed
*Fully interchangeable with cash credit, overdraft, short-term loans, letter of credit, and bank
guarantee.
Bayer Cropscience Ltd                   Proposed LT Bk     CRISIL AA+     154.5   Reaffirmed
                                        Loan Fac
Continues on 'Rating Watch with Negative Implications') 
Dhundhwal Brothers                      Proposed LT Bk     CRISIL BB-     20      Assigned
                                        Loan Fac
Dhundhwal Brothers                      Overdraft          CRISIL BB-     20      Assigned
Dudi and Company                        Proposed LT Bk     CRISIL BB      40      Assigned
                                        Loan Fac
Dudi and Company                        CC/ Overdraft Fac  CRISIL BB      25      Assigned
ECL Finance Ltd                         CC                 CRISIL AA      20800   Reaffirmed
ECL Finance Ltd                         LT Bk Fac          CRISIL AA      46477.8 Reaffirmed
ECL Finance Ltd                         Proposed LT Bk     CRISIL AA      25022.2 Reaffirmed
                                        Loan Fac**
**interchangeable with short term bank facilities.
ECL Finance Ltd                         Subordinated Debt  CRISIL AA      4000    Reaffirmed

ECL Finance Ltd                         NCD                CRISIL AA      41300   Reaffirmed

ECL Finance Ltd                         LT Principal       CRISIL PP -    10000   Reaffirmed
                                        Protected          MLD AAr
                                        Market Linked 
                                        Debentures
       
ECL Finance Ltd                         Principal -        CRISIL PP -    11900   Reaffirmed
                                        Protected Equity   MLD AAr
                                        -Linked Debentures    

ECL Finance Ltd                         Principal -        CRISIL PP -    350     Reaffirmed
                                        Protected          MLD AAr
                                        Commodity-Linked
                                        Debentures

Edelweiss Commodities Services Ltd      NCD                CRISIL AA      30000   Reaffirmed
Edelweiss Commodities Services Ltd      PS                 CRISIL AA      1050    Reaffirmed
Edelweiss Commodities Services Ltd      LT Bk Fac          CRISIL AA      3250    Reaffirmed
Edelweiss Commodities Services Ltd      Overdraft          CRISIL AA      7000    Reaffirmed
Edelweiss Commodities Services Ltd      Proposed LT Bk     CRISIL AA      5000    Reaffirmed
                                        Loan Fac**
**Interchangeable with short term bank facilities.
Goyal MG Gases Pvt Ltd                  TL                 -              120.3   Withdrawal
Issuer Not Cooperating
Green Vege Exports Pvt Ltd              TL                 CRISIL B+      70      Assigned
Hora Motors Pvt Ltd                     CC                 CRISIL BB+     150     Assigned
Inox Wind Infrastructure Services Ltd   NCD                CRISIL AA(SO)  3000    (Converted
                                                                                  from
                                                                                  Provisional
rating to Final rating)
Intercraft Trading Pvt Ltd              CC                 CRISIL BB-     49      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Intercraft Trading Pvt Ltd              Proposed LT Bk     CRISIL BB-     21      Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
JSL Industries Ltd                      CC                 CRISIL BB+     50      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
JSL Industries Ltd                      Proposed LT Bk     CRISIL BB+     29.1    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BBB-
JSL Industries Ltd                      TL                 CRISIL BB+     10.3    Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Kamala Cold Storage Pvt Ltd             CC                 CRISIL B       64.7    Upgraded from
                                                                                  CRISIL B-
Kamala Cold Storage Pvt Ltd             WC Fac             CRISIL B       13.4    Upgraded from
                                                                                  CRISIL B-
Kerala Electrical and Allied Engg. Co.  CC                 CRISIL B       173.5   Reaffirmed
Ltd
Kerala Electrical and Allied Engg. Co.  Proposed LT Bk     CRISIL B       2.5     Reaffirmed
Ltd                                     Loan Fac
Leade Liquor Manufacturing Pvt Ltd      Proposed LT Bk     CRISIL D       68.4    Downgraded
                                        Loan Fac                                  from CRISIL B-
Leade Liquor Manufacturing Pvt Ltd      TL                 CRISIL D       29.1    Downgraded
                                                                                  from CRISIL B-
Malieakal Electronics                   Overdraft          CRISIL B+      35      Upgraded from
                                                                                  CRISIL B
Malieakal Electronics                   Proposed LT Bk     CRISIL B+      10      Upgraded from
                                        Loan Fac                                  CRISIL B
Malieakal Electronics                   TL                 CRISIL B+      16      Upgraded from
                                                                                  CRISIL B
Manappuram Home Finance Pvt Ltd         Proposed LT Bk     CRISIL A+      650     Reaffirmed
                                        Loan Fac
Manappuram Home Finance Pvt Ltd         TL                 CRISIL A+      1100    Reaffirmed
Manappuram Home Finance Pvt Ltd         WC Loan            CRISIL A+      250     Reaffirmed
Momai Apparels Ltd                      CC                 CRISIL BBB+    270     Withdrawal
Momai Apparels Ltd                      Foreign LOC        CRISIL BBB+    55      Withdrawal
Nisha Enterprises                       CC                 CRISIL B+      70      Reaffirmed
V.K. Gupta and Associates               CC                 CRISIL BB-     45      Upgraded from
                                                                                  CRISIL B+
Vedant Fashions Pvt Ltd                 CC                 CRISIL A+      1200    Continues on
                                                                                  Rating Watch
                                                                                  with
                                                                                  Developing
                                                                                  Implications')
Western Outdoor Structures Pvt Ltd      Proposed Overdraft CRISIL BB-     40      Assigned
                                        Fac
Western Outdoor Structures Pvt Ltd      Overdraft          CRISIL BB-     30      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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