Reuters logo
CRISIL ratings for Indian debt instruments-Nov 6
November 6, 2017 / 7:16 AM / 17 days ago

CRISIL ratings for Indian debt instruments-Nov 6

    Nov 6 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 3, 2017.

COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Ajay Ingot Rolling Mill Pvt Ltd         Proposed ST Bk     CRISIL A4+     40      Assigned
                                        Loan Fac
Angelique International Ltd             BG                 CRISIL A2      15050   Continues on
                                                                                  Rating Watch
                                                                                  with Negative
                                                                                  Implications
Angelique International Ltd             Bill               CRISIL A2      380     Continues on
                                        Pur-Discounting Fac                       Rating Watch
                                                                                  with Negative
                                                                                  Implications
Angelique International Ltd             Bills Receivable   CRISIL A2      1350    Continues on
                                        Discounting                               Rating Watch
                                                                                  with Negative
                                                                                  Implications
Angelique International Ltd             LOC                CRISIL A2      1800    Continues on
                                                                                  Rating Watch
                                                                                  with Negative
                                                                                  Implications
Angelique International Ltd             Packing Credit     CRISIL A2      100     Continues on
                                                                                  Rating Watch
                                                                                  with Negative
                                                                                  Implications
Angelique International Ltd             CP                 CRISIL A2      100     Continues on
                                                                                  Rating Watch
                                                                                  with Negative
                                                                                  Implications
Aruna Alloy Steels Pvt Ltd              Foreign Bill       CRISIL A4+     140     Downgraded
                                        Purchase                                  from CRISIL A3
Devendran Plastic Pvt Ltd               LOC                CRISIL A4      80      Reaffirmed
Devendran Plastic Pvt Ltd               LOC Bill           CRISIL A4      70      Reaffirmed
                                        Discounting
Devendran Plastic Pvt Ltd               Proposed ST Bk     CRISIL A4      6       Reaffirmed
                                        Loan Fac
ECL Finance Ltd                         ST Debt Issue*     CRISIL A1+     45000   Assigned
*Assigned for initial/ follow-on public offer financing on episodic basis.

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

ECL Finance Ltd                         ST Debt Issue*     CRISIL A1+     50000   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-Pro   CRISIL PP-MLD  12000   Reaffirmed
                                        Mkt-Linked Deb     A1+r

Edelweiss Commodities Services Ltd      ST Bk Fac          CRISIL A1+     600     Reaffirmed

Edelweiss Commodities Services Ltd      ST Debt Issue*     CRISIL A1+     40000   Assigned
*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 Debt Issue*     CRISIL A1+     60000   Reaffirmed
*Assigned for initial/ follow-on public offer financing on episodic basis.

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

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

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

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

Edelweiss Financial Services Ltd        ST Debt Issue      CRISIL A1+     63500   Reaffirmed

Ihsedu Agrochem Pvt Ltd                 Export Packing     CRISIL A2+     2350    Reaffirmed
                                        Credit
Ihsedu Agrochem Pvt Ltd                 Standby Line of    CRISIL A2+     310     Reaffirmed
                                        Credit
K.P.Manish Global Ingredients Pvt Ltd   Import LOC Limit   CRISIL A3      130     Upgraded from
                                                                                  CRISIL A4+
Malladi Drugs and Pharmaceuticals Ltd   Inland             CRISIL A2+     310     Upgraded from
                                                                                  CRISIL A2
Malladi Drugs and Pharmaceuticals Ltd   Post Shipment      CRISIL A2+     102.5   Upgraded from
                                        Credit                                    CRISIL A2
TAFE Access Ltd                         BG*                CRISIL A1+     20      Reaffirmed
*Interchangeable with letter of credit

Tata Cleantech Capital Ltd              CP                 CRISIL A1+     6000    Reaffirmed
TAFE Access Ltd                         ST Debt            CRISIL A+      150     Reaffirmed
Tata Motors Finance Ltd                 ST Debt            CRISIL A1+     60000   Reaffirmed
Tata Motors Finance Solutions Ltd       CP Programme       CRISIL A1+     20000   Reaffirmed
TMF Holdings Ltd                        ST Debt            CRISIL A1+     20000   Reaffirmed
Unipro Techno Infrastructure Pvt Ltd    BG                 CRISIL A3+     440     Reaffirmed
Vasu Enterprises                        BG                 CRISIL A4+     150     Reaffirmed

LONG TERM RATINGS:
-------------------
Ajay Ingot Rolling Mill Pvt Ltd         CC                 CRISIL BB-     40      Assigned
Angelique International Ltd             CC                 CRISIL BBB+    220     Continues on
                                                                                  Rating Watch
                                                                                  with Negative
Implications
Angelique International Ltd             Proposed LT Bk     CRISIL BBB+    100     Continues on
                                        Loan Fac                                  Rating Watch
                                                                                  with Negative
Implications
Aruna Alloy Steels Pvt Ltd              CC                 CRISIL BB+     20      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Aruna Alloy Steels Pvt Ltd              Overdraft          CRISIL BB+     35      Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Aruna Alloy Steels Pvt Ltd              TL                 CRISIL BB+     177     Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Bajaj Housing Finance Ltd               CC & WC demand loanCRISIL AAA     1500    Reaffirmed
Bajaj Housing Finance Ltd               TL                 CRISIL AAA     4500    Assigned
Bajaj Housing Finance Ltd               Proposed LT Bk     CRISIL AAA     4000    Assigned
                                        Loan Fac*
* Interchangeable with short-term bank facilities

Devendran Plastic Pvt Ltd               CC                 CRISIL B+      100     Upgraded from
                                                                                  CRISIL B
Devendran Plastic Pvt Ltd               TL                 CRISIL B+      120     Upgraded from
                                                                                  CRISIL B
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 Pro   CRISIL PP-MLD  10000   Reaffirmed
                                        Market Linked Deb  AAr/
ECL Finance Ltd                         Principal-Pro      CRISIL PP-MLD  11900   Reaffirmed
                                        Equity-Linked Deb  AAr/
ECL Finance Ltd                         Principal-Pro      CRISIL PP-MLD  350     Reaffirmed
                                        Commoptionally     AAr/
                                        convertible debentureity-Linked Deb
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

Edelweiss Commodities Services Ltd      NCD                CRISIL AA      30000   Reaffirmed
Edelweiss Commodities Services Ltd      PS                 CRISIL AA      1050    Reaffirmed
Gujarat State Petroleum Corporation Ltd Subordinated NCDs *CRISIL BBB     20000   Downgraded
                                                                                  from CRISIL
                                                                                  BBB+
( Continues to be on 'Rating Watch with Negative mplications')

Gujarat State Petroleum Corporation Ltd TL^                CRISIL BBB+    5201.3  Downgraded
                                                                                  from CRISIL A-
^equivalent to USD 80.02 million converted at Rs 65/USD
Gujarat State Petroleum Corporation Ltd NCD Issue          CRISIL BBB+    40000   Downgraded
                                                                                  from CRISIL A-
( Continues to be on 'Rating Watch with Negative mplications')
Gujarat State Petroleum Corporation Ltd Compulsory         CRISIL BBB+r   5500    Downgraded
                                        Convertible                               from CRISIL
                                        Debentures                                A-r
( Continues to be on 'Rating Watch with Negative mplications')
Ihsedu Agrochem Pvt Ltd                 LT Loan            CRISIL A-      52.5    Reaffirmed
Ihsedu Agrochem Pvt Ltd                 Proposed LT Bk     CRISIL A-      37.5    Reaffirmed
                                        Loan Fac
Jhajjar Power Ltd                       LT Loan            CRISIL AA-     7810    Reaffirmed
Jhajjar Power Ltd                       Proposed LT Bk     CRISIL AA-     2190    Reaffirmed
                                        Loan Fac
K.P.Manish Global Ingredients Pvt Ltd   CC                 CRISIL BBB-    70      Upgraded from
                                                                                  CRISIL BB+
Kewal Kiran Clothing Ltd                WC Demand Loan@@   CRISIL AA-     250     Reaffirmed
@@Interchangeable with Rs 25 crore of bank overdraft facility, Rs 25 crore of export bill
discounting, Rs 25 crore of export invoice financing, and Rs 25 crore of pre-shipment financing
under export orders.

Kewal Kiran Clothing Ltd                WC Demand Loan#    CRISIL AA-     250     Reaffirmed
#Interchangeable with Rs 25 crore of bank overdraft facility, Rs 5 crore of import letter of
credit, Rs 5 crore of bonds and guarantees, Rs 5 crore of import invoice financing, Rs 25 crore
of export bill discounting, Rs 25 crore of pre-shipment financing under export letter of credit,
Rs 25 crore of export invoice financing, Rs 5 crore of import letter of credit, and Rs 25 crore
of pre-shipment financing under export orders.

Kewal Kiran Clothing Ltd                WC Demand Loan@    CRISIL AA-     150     Reaffirmed
@Interchangeable with Rs 15 crore of working capital demand loan, Rs 7.5 crore cash credit
facility, Rs 2 crore pre-shipment export packing credit in foreign currency, Rs 2 crore
post-shipment credit in foreign currency.

Kewal Kiran Clothing Ltd                WC Demand Loan^    CRISIL AA-     200     Reaffirmed
^Interchangeable with Rs 20 crore of working capital demand loan, Rs 20 crore cash credit
facility, Rs 20 crore export packing credit, Rs 20 crore foreign bills purchased, Rs 20 crore
bill/invoice discounting, Rs 10 crore letter of credit usance/sight, Rs 10 crore letter of
undertaking for buyer's credit.

Kewal Kiran Clothing Ltd                WC Demand Loan^    CRISIL AA-     200     Reaffirmed
^Interchangeable with Rs 20 crore of working capital demand loan, Rs 20 crore cash credit
facility, Rs 20 crore export packing credit, Rs 20 crore foreign bills purchased, Rs 20 crore
bill/invoice discounting, Rs 10 crore letter of credit usance/sight, Rs 10 crore letter of
undertaking for buyer's credit.

Kewal Kiran Clothing Ltd                Proposed LT Bk     CRISIL AA-     350     Reaffirmed
                                        Loan Fac

Mahamaya Foods and Grains Pvt Ltd       CC                 CRISIL BB-     178.5   Reaffirmed
Mahamaya Foods and Grains Pvt Ltd       Proposed LT Bk     CRISIL BB-     42.5    Reaffirmed
                                        Loan Fac
Mahamaya Foods and Grains Pvt Ltd       TL                 CRISIL BB-     79      Reaffirmed
Malladi Drugs and Pharmaceuticals Ltd   CC                 CRISIL A-      110     Upgraded from
                                                                                  CRISIL BBB+
Malladi Drugs and Pharmaceuticals Ltd   Cash TL            CRISIL A-      300.4   Upgraded from
                                                                                  CRISIL BBB+
Malladi Drugs and Pharmaceuticals Ltd   Export Packing     CRISIL A-      775     Upgraded from
                                        Credit                                    CRISIL BBB+
Malladi Drugs and Pharmaceuticals Ltd   Proposed LT Bk     CRISIL A-      2.1     Upgraded from
                                        Loan Fac                                  CRISIL BBB+
Muthoot Housing Finance Co. Ltd         CC                 CRISIL BBB+    50      Reaffirmed
Muthoot Housing Finance Co. Ltd         Proposed LT Bk     CRISIL BBB+    4208    Reaffirmed
                                        Loan Fac
Muthoot Housing Finance Co. Ltd         TL                 CRISIL BBB+    4242    Reaffirmed
NAC Jewellers Pvt Ltd                   CC                 CRISIL BB+     1940    Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
NAC Jewellers Pvt Ltd                   LT Loan            CRISIL BB+     68.5    Downgraded
                                                                                  from CRISIL
                                                                                  BBB-
Navya Fashions Pvt Ltd                  CC                 CRISIL BB      100     Assigned
Navya Fashions Pvt Ltd                  TL                 CRISIL BB      70      Assigned
Prem Textiles International             Export Packing     CRISIL BB-     95      Reaffirmed
                                        Credit
Prem Textiles International             LT Loan            CRISIL BB-     9       Reaffirmed
Prem Textiles International             Proposed WC Fac    CRISIL BB-     6       Reaffirmed
PSR Silk Sarees India Pvt Ltd           CC                 CRISIL BB      400     Reaffirmed
PSR Silk Sarees India Pvt Ltd           LT Loan            CRISIL BB      149.5   Reaffirmed
Sayak Enterprise                        CC                 CRISIL BB-     160     Reaffirmed
Sharma Rice Mills                       CC                 CRISIL B+      50      Assigned
Sharma Rice Mills                       TL                 CRISIL B+      20      Assigned
Sharma Rice Mills                       Warehouse FinancingCRISIL B+      70      Assigned
Sri Vaibhava Lakshmi Enterprises Pvt LtdLT Loan            CRISIL C       172     Reaffirmed
Sri Vaibhava Lakshmi Enterprises Pvt LtdOpen CC            CRISIL C       28      Reaffirmed
Sustainable Spinning and Commodities    CC                 CRISIL BB+     160     Reaffirmed
Pvt Ltd
Sustainable Spinning and Commodities    Proposed LT Bk     CRISIL BB+     62.2    Reaffirmed
Pvt Ltd                                 Loan Fac
Sustainable Spinning and Commodities    TL                 CRISIL BB+     817.8   Assigned
Pvt Ltd
TAFE Access Ltd                         CC**               CRISIL A+      490     Reaffirmed
**Interchangeable with Working Capital Demand Loan up to Rs 15 Crore
TAFE Access Ltd                         Proposed FB Bk     CRISIL A+      340     Reaffirmed
                                        Limits
Tata Cleantech Capital Ltd              CC & WC demand loanCRISIL AA+     5500    Reaffirmed
Tata Cleantech Capital Ltd              LT Bk Fac          CRISIL AA+     7380    Reaffirmed
Tata Cleantech Capital Ltd              Proposed LT Bk     CRISIL AA+     7120    Reaffirmed
                                        Loan Fac
Tata Cleantech Capital Ltd              NCD                CRISIL AA+     5000    Assigned
Tata Cleantech Capital Ltd              NCD#               CRISIL AA+     2600    Reaffirmed
#Green Debt Securities
Tata Cleantech Capital Ltd              NCD                CRISIL AA+     10000   Reaffirmed
Tata Cleantech Capital Ltd              Subordinated Debt  CRISIL AA+     1000    Reaffirmed
Tata Motors Finance Ltd                 Perpetual Bonds    CRISIL A+      4150    Reaffirmed
Tata Motors Finance Ltd                 NCD                CRISIL AA      56050   Reaffirmed
Tata Motors Finance Ltd                 Subordinated Debt  CRISIL AA      14000   Reaffirmed
Tata Motors Finance Solutions Ltd       NCD                CRISIL AA      20000   Reaffirmed
Tata Motors Finance Solutions Ltd       Subordinated Debt  CRISIL AA      2000    Reaffirmed
TMF Holdings Ltd                        NCD                CRISIL AA      20000   Reaffirmed
Unipro Techno Infrastructure Pvt Ltd    CC                 CRISIL BBB     80      Reaffirmed
Vasu Enterprises                        CC                 CRISIL BB+     50      Reaffirmed
White Gold Agro Industries              TL                 CRISIL B       10      Assigned
White Gold Agro Industries              CC                 CRISIL B       60      Assigned
White Gold Agro Industries              Proposed CC Limit  CRISIL B       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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below