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CRISIL ratings for Indian debt instruments-Nov 22
November 22, 2017 / 9:44 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Nov 22

    Nov 22 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 21, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
ABB Global Industries and Services Pvt  LOC & BG#          CRISIL A1+     100     Reaffirmed
Ltd
#Interchangeable facility
Barclays Investments and Loans India LtdCP                 CRISIL A1+     25000   Reaffirmed
Dynamic Electricals and Switchgear Pvt  BG                 CRISIL A4      25      Reaffirmed
Ltd
Issuer Not Cooperating
Dynamic Electricals and Switchgear Pvt  LOC                CRISIL A4      8       Reaffirmed
Ltd
Issuer Not Cooperating
Excel                                   Foreign Bill       CRISIL A4      75      Reaffirmed
                                        Discounting
Excel                                   LOC                CRISIL A4      5       Reaffirmed
Excel                                   Packing Credit     CRISIL A4      60      Reaffirmed
Goel Traders                            BG                 CRISIL A4+     40      Assigned
Jawahar Education Society               LOC                CRISIL A3+     40      Reaffirmed
Jawahar Education Society               Purchase Bill      CRISIL A3+     100     Reaffirmed
                                        Discounting
Mangal Industries Ltd                   BG                 CRISIL A2+     15      Reaffirmed
Mangal Industries Ltd                   Export Packing     CRISIL A2+     40      Reaffirmed
                                        Credit
Mangal Industries Ltd                   LOC                CRISIL A2+     100     Reaffirmed
Mangal Industries Ltd                   LOC & BG           CRISIL A2+     150     Reaffirmed
Mangal Industries Ltd                   Packing Credit in  CRISIL A2+     300     Reaffirmed
                                        Foreign Currency
Mangal Industries Ltd                   Proposed ST Bk     CRISIL A2+     1.1     Reaffirmed
                                        Loan Fac
Meeka Machinery Pvt Ltd                 BG                 CRISIL A4      40      Assigned
Midland Diesel Services Pvt Ltd         BG                 CRISIL A4      25      Reaffirmed
Murari Lal Singhal                      BG                 CRISIL A4+     70      Reaffirmed
Nestle India Ltd                        ST Debt            CRISIL A1+     7000    Reaffirmed
Pansuriya Impex                         Export Bill        CRISIL A4+     395     Reaffirmed
                                        Negotiation
Pansuriya Impex                         Export Packing     CRISIL A4+     380     Reaffirmed
                                        Credit & Export
                                        Bills Negotiation/Foreign Bill discounting
Pansuriya Impex                         Packing Credit     CRISIL A4+     581.6   Reaffirmed
Pansuriya Impex                         Post Shipment      CRISIL A4+     226.8   Reaffirmed
                                        Credit
Paragon Irrigation Ltd                  BG                 CRISIL A3      160     Reaffirmed
Royalcare Super Speciality Hospital Ltd BG                 CRISIL A4      43.5    Assigned
Rustam Foods Pvt Ltd                    Packing Credit in  CRISIL A3+     465     Reaffirmed
                                        Foreign Currency
Rustam Foods Pvt Ltd                    Proposed Packing   CRISIL A3+     243     Reaffirmed
                                        Credit
Saraca Laboratories Ltd                 BG                 CRISIL A2+     10      Reaffirmed
Saraca Laboratories Ltd                 LOC                CRISIL A2+     250     Reaffirmed
Seftech India Pvt Ltd                   Proposed BG        CRISIL A4      200     Assigned
Sri Lakshmi Saraswathi Textiles (Arni)  Bill Discounting   CRISIL A4      35      Reaffirmed
Ltd
Sri Lakshmi Saraswathi Textiles (Arni)  LOC                CRISIL A4      20      Reaffirmed
Ltd
Sri Lakshmi Saraswathi Textiles (Arni)  Packing Credit     CRISIL A4      20      Reaffirmed
Ltd
Super Sales India Ltd                   LOC                CRISIL A3+     40      Reaffirmed
Super Sales India Ltd                   Purchase Bill      CRISIL A3+     100     Reaffirmed
                                        Discounting
Tata Teleservices (Maharashtra) Ltd     LOC & BG**         CRISIL A1+     27392.8 Upgraded from
                                                                                  CRISIL A1
Rating Watch with Developing Implications 
**Includes buyer's credit limit of USD2.5 crore (around Rs. 161.6 Crore)

Tata Teleservices (Maharashtra) Ltd     ST Loan            CRISIL A1+     5000    Upgraded from
                                                                                  CRISIL A1
Rating Watch with Developing Implications
Tata Teleservices Ltd                   LOC & BG#          CRISIL A1+     37570   -
Rating Watch with Developing Implications
Tata Teleservices Ltd                   ST Loan            CRISIL A1+     5000    -
Rating Watch with Developing Implications
Uttam (Bharat) Electricals Pvt Ltd      BG                 CRISIL A4+     130     Reaffirmed
Uttam (Bharat) Electricals Pvt Ltd      LOC                CRISIL A4+     130     Reaffirmed


LONG TERM RATINGS:
-------------------
ABB Global Industries and Services Pvt  CC*                CRISIL AA+     100     Reaffirmed
Ltd
*Interchangeable with short-term loan
Aqua World Exports Pvt Ltd              Export Packing     CRISIL B+      90      Reaffirmed
                                        Credit
Dynamic Electricals and Switchgear Pvt  CC                 CRISIL C       25      Downgraded
Ltd                                                                               from CRISIL B
Issuer Not Cooperating
Excel                                   CC                 CRISIL B-      5       Reaffirmed
Excel                                   Corporate Mortgage CRISIL B-      48      Reaffirmed
                                        Loan
Excel                                   Proposed LT Bk     CRISIL B-      7       Reaffirmed
                                        Loan Fac
Ganpati Roller Flour Mills              CC                 CRISIL BB-     80      Upgraded from
                                                                                  CRISIL B+
Goel Traders                            Proposed LT Bk     CRISIL BB-     10      Assigned
                                        Loan Fac
Goel Traders                            CC                 CRISIL BB-     20      Assigned
Innovative Techno Park Pvt Ltd          Overdraft          CRISIL BBB-    300     Reaffirmed
Innovative Techno Park Pvt Ltd          Proposed LT Bk     CRISIL BBB-    110     Reaffirmed
                                        Loan Fac
Innovative Techno Park Pvt Ltd          TL                 CRISIL BBB-    550     Reaffirmed
Jawahar Education Society               Bill Discounting   CRISIL BBB     10      Reaffirmed
Jawahar Education Society               CC                 CRISIL BBB     400     Reaffirmed
Jawahar Education Society               Key CC             CRISIL BBB     50      Reaffirmed
Jawahar Education Society               Proposed LT Bk     CRISIL BBB     355.8   Reaffirmed
                                        Loan Fac
Jawahar Education Society               WC Demand Loan     CRISIL BBB     225     Reaffirmed
Jawahar Education Society               TL                 CRISIL BBB     19      Reaffirmed
Jawahar Education Society               Rupee TL           CRISIL D       310     Downgraded
                                                                                  from CRISIL B
Issuer Not Cooperating
Kunj Roller Flour Mills Pvt Ltd         CC                 CRISIL BB      135     Reaffirmed
Kunj Roller Flour Mills Pvt Ltd         Proposed LT Bk     CRISIL BB      15      Assigned
                                        Loan Fac
Kunj Roller Flour Mills Pvt Ltd         CC                 CRISIL BB      135     Reaffirmed
Kunj Roller Flour Mills Pvt Ltd         Proposed LT Bk     CRISIL BB      15      Assigned
                                        Loan Fac
Lakshmi Precision Tools Ltd             CC                 CRISIL BBB     75      Reaffirmed
Lakshmi Precision Tools Ltd             Proposed WC Fac    CRISIL BBB     2       Reaffirmed
Mangal Industries Ltd                   CC                 CRISIL A-      375     Reaffirmed
Mangal Industries Ltd                   LT Loan            CRISIL A-      1959    Reaffirmed
Meeka Machinery Pvt Ltd                 Proposed LT Bk     CRISIL B+      7.5     Assigned
                                        Loan Fac
Meeka Machinery Pvt Ltd                 CC                 CRISIL B+      35      Assigned
Midland Diesel Services Pvt Ltd         CC                 CRISIL B-      42      Reaffirmed
Midland Diesel Services Pvt Ltd         Proposed CC Limit  CRISIL B-      59.5    Reaffirmed
Montage Promoters Pvt Ltd               CC                 CRISIL D       85      Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Montage Promoters Pvt Ltd               Proposed LT Bk     CRISIL D       85.5    Downgraded
                                        Loan Fac                                  from CRISIL
                                                                                  BB-
Montage Promoters Pvt Ltd               TL                 CRISIL D       9.5     Downgraded
                                                                                  from CRISIL
                                                                                  BB-
Mukunda Dairy Products Pvt Ltd          CC                 CRISIL BB+     100     Reaffirmed
Mukunda Dairy Products Pvt Ltd          LT Loan            CRISIL BB+     7       Reaffirmed
Mukunda Dairy Products Pvt Ltd          Proposed LT Bk     CRISIL BB+     13      Assigned
                                        Loan Fac
Murari Lal Singhal                      CC                 CRISIL BB      40      Reaffirmed
Murari Lal Singhal                      Overdraft          CRISIL BB      30      Reaffirmed
N. R. Ispat and Power Pvt Ltd           CC                 CRISIL BBB     269     Reaffirmed
N. R. Ispat and Power Pvt Ltd           Rupee TL           CRISIL BBB     270     Reaffirmed
Nestle India Ltd                        LT Loan            CRISIL AAA     18000   Reaffirmed
Pansuriya Impex                         Post Shipment      CRISIL BB      416.6   Reassigned
                                        Credit
Paragon Irrigation Ltd                  CC#                CRISIL BBB-    80      Reaffirmed
# Letter of Credit of Rs.3 crore as a sub-limit of Cash Credit facility
Paragon Irrigation Ltd                  Proposed LT Bk     CRISIL BBB-    50      Reaffirmed
                                        Loan Fac
Rajshree Educational Trust              TL                 CRISIL B       980     Upgraded from
                                                                                  CRISIL D
Royalcare Super Speciality Hospital Ltd CC                 CRISIL B+      97.5    Assigned
Rustam Foods Pvt Ltd                    CC                 CRISIL BBB     30      Reaffirmed
Rustam Foods Pvt Ltd                    Overdraft          CRISIL BBB     50      Reaffirmed
Rustam Foods Pvt Ltd                    TL                 CRISIL BBB     212     Reaffirmed
Santuka Vyapaar Pvt Ltd                 CC                 CRISIL C       80      Reaffirmed
Saraca Laboratories Ltd                 Bill Discounting*  CRISIL A-      25      Reaffirmed
*Fully interchangeable among cash credit, export packing credit, and bill discounting limits
Saraca Laboratories Ltd                 CC*                CRISIL A-      150     Reaffirmed
*Fully interchangeable among cash credit, export packing credit, and bill discounting limits
Saraca Laboratories Ltd                 Export Packing     CRISIL A-      225     Reaffirmed
                                        Credit*
*Fully interchangeable among cash credit, export packing credit, and bill discounting limits
Saraca Laboratories Ltd                 Standby Line of    CRISIL A-      50      Reaffirmed
                                        Credit
Seftech India Pvt Ltd                   Proposed LT Bk     CRISIL B+      50      Assigned
                                        Loan Fac
Sekisui DLJM Molding Pvt Ltd            CC                 CRISIL A-      60      Reaffirmed
Sekisui DLJM Molding Pvt Ltd            Proposed TL        CRISIL A-      63      Reaffirmed
Sekisui DLJM Molding Pvt Ltd            TL                 CRISIL A-      142     Reaffirmed
Shree Somnath Cotex                     CC                 CRISIL BB-     165     Reaffirmed
Shree Somnath Cotex                     TL                 CRISIL BB-     11.5    Reaffirmed
Siva Engineering Company                BG                 CRISIL D       100     Reaffirmed
Siva Engineering Company                CC                 CRISIL D       170     Reaffirmed
Siva Engineering Company                Proposed LT Bk     CRISIL D       53.4    Reaffirmed
                                        Loan Fac
Sri Gajpati Foods Pvt Ltd               CC                 Withdrawal     25      Withdrawal
Sri Gajpati Foods Pvt Ltd               Proposed LT Bk     Withdrawal     5.3     Withdrawal
                                        Loan Fac
Sri Gajpati Foods Pvt Ltd               TL                 Withdrawal     29.7    Withdrawal
Sri Lakshmi Saraswathi Textiles (Arni)  CC                 CRISIL B-      50      Downgraded
Ltd                                                                               from CRISIL B
Sri Lakshmi Saraswathi Textiles (Arni)  Proposed LT Bk     CRISIL B-      170     Downgraded
Ltd                                     Loan Fac                                  from CRISIL B
Star Cement Ltd                         CC                 Withdrawal     1990    Withdrawal
Star Cement Ltd                         Corporate Loan     Withdrawal     800     Withdrawal
Star Cement Ltd                         LOC & BG           Withdrawal     250     Withdrawal
Star Cement Ltd                         Proposed LT Bk     Withdrawal     249.5   Withdrawal
                                        Loan Fac
Star Cement Ltd                         ST Loan            Withdrawal     300     Withdrawal
Star Cement Ltd                         TL                 Withdrawal     694.5   Withdrawal
Star Cement Meghalaya Ltd               CC                 Withdrawal     700     Withdrawal
Star Cement Meghalaya Ltd               LOC & BG           Withdrawal     100     Withdrawal
Star Cement Meghalaya Ltd               Proposed TL        Withdrawal     756.9   Withdrawal
Star Cement Meghalaya Ltd               TL                 Withdrawal     3123.1  Withdrawal
Super Sales India Ltd                   Bill Discounting   CRISIL BBB     10      Reaffirmed
Super Sales India Ltd                   CC                 CRISIL BBB     400     Reaffirmed
Super Sales India Ltd                   Key CC             CRISIL BBB     50      Reaffirmed
Super Sales India Ltd                   Proposed LT Bk     CRISIL BBB     355.8   Reaffirmed
                                        Loan Fac
Super Sales India Ltd                   WC Demand Loan     CRISIL BBB     225     Reaffirmed
Super Sales India Ltd                   TL                 CRISIL BBB     19      Reaffirmed
Tata Teleservices (Maharashtra) Ltd     CC/ Overdraft Fac* CRISIL AA-     2750    Upgraded from
                                                                                  CRISIL A
Rating Watch with Developing Implications 
*Interchangeable between fund-based and non-fund-based limits to the extent of Rs.150 crore
Tata Teleservices (Maharashtra) Ltd     LT Loan            CRISIL AA-     3086    Upgraded from
                                                                                  CRISIL A
Rating Watch with Developing Implications
Tata Teleservices (Maharashtra) Ltd     Proposed TL        CRISIL AA-     13431.2 Upgraded from
                                                                                  CRISIL A
Rating Watch with Developing Implications
Tata Teleservices Ltd                   CC                 CRISIL AA-     2900    -
Rating Watch with Developing Implications
Tata Teleservices Ltd                   Proposed TL        CRISIL AA-     18260   -
Rating Watch with Developing Implications
Tata Teleservices Ltd                   TL                 CRISIL AA-     86270   -
Rating Watch with Developing Implications
United Warehousing Pvt Ltd              BG                 Withdrawal     43      Withdrawal
Issuer Not Cooperating
United Warehousing Pvt Ltd              CC                 Withdrawal     5       Withdrawal
Issuer Not Cooperating
United Warehousing Pvt Ltd              Proposed ST Bk     Withdrawal     72      Withdrawal
                                        Loan Fac
Issuer Not Cooperating
Uttam (Bharat) Electricals Pvt Ltd      Overdraft          CRISIL BB+     110     Reaffirmed
Uttam (Bharat) Electricals Pvt Ltd      Proposed LT Bk     CRISIL BB+     30      Reaffirmed
                                        Loan Fac
V.N.M.A.D.Firm                          CC                 CRISIL B+      90      Reaffirmed


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