November 6, 2019 / 5:56 AM / 13 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 5, 2019.

    COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
AR Apparel                              Packing Credit     CRISIL A4+     20      Assigned
AR Apparel                              BG                 CRISIL A4+     0.2     Assigned
Bharat Petroleum Corporation Ltd        Non-FBL            CRISIL A1+     163120  Reaffirmed
Bharat Petroleum Corporation Ltd        Proposed NFBL      CRISIL A1+     1100    Reaffirmed
Bharat Petroleum Corporation Ltd        Proposed NFBL@@    CRISIL A1+     19825   Reaffirmed
@@Equivalent to USD 325 million. 1 USD=INR 61
Bharat Petroleum Corporation Ltd        ST Debt Programme  CRISIL A1+     150000  Reaffirmed
Bharat Petroleum Corporation Ltd        CP (Enhanced from  CRISIL A1+     45000   Reaffirmed
                                        Rs.3500 Crore)
Dinesh Textile Mills                    Packing Credit in  CRISIL A4+     100     -
                                        Foreign Currency
Migrated from CRISIL A4+ (Issuer not cooperating)
Ecoplast Ltd                            BG                 CRISIL A3      1.5     Reaffirmed
Ecoplast Ltd                            LOC                CRISIL A3      65      Reaffirmed
Ecoplast Ltd                            Proposed BG        CRISIL A3      20      Reaffirmed
Esspal International Pvt Ltd            LOC                CRISIL A4+     150     -
Downgraded from CRISIL A3
Indira Enterprises                      Proposed BG        CRISIL A4      20      -
(Issuer not cooperating); Rating Migrated
Indotech Industries India Pvt Ltd       BG                 CRISIL A4+     22.8    -
(Issuer not cooperating); Rating Migrated
Jayachitra Garments                     BG                 CRISIL A4+     2       Reaffirmed
Jayachitra Garments                     Packing Credit     CRISIL A4+     80      Reaffirmed
Kohinoor Ropes Pvt Ltd                  BG                 CRISIL A4+     10      Reaffirmed
Kohinoor Ropes Pvt Ltd                  Capex LOC          CRISIL A4+     72.5    Reaffirmed
Lucas-TVS Ltd                           Packing Credit     CRISIL A1+     1500    Reaffirmed
Lucas-TVS Ltd                           Proposed ST Bk     CRISIL A1+     1155    Reaffirmed
                                        Loan Fac
Manorama Ropes India Pvt Ltd            BG                 CRISIL A4+     9       Assigned
Megastar Foods Ltd                      BG                 CRISIL A4+     5       -
(Issuer not cooperating); Rating Migrated
Metro Cash and Carry India Pvt Ltd      Proposed WC Fac    CRISIL A1      1740    Reaffirmed
Metro Cash and Carry India Pvt Ltd      WC Demand Loan     CRISIL A1      4000    Reaffirmed
Omar International Pvt Ltd              BG                 CRISIL A4      5       -
(Issuer not cooperating); Rating Migrated
Omar International Pvt Ltd              Packing Credit in  CRISIL A4      190     -
                                        Foreign Currency
(Issuer not cooperating); Rating Migrated
Omar International Pvt Ltd              Proposed ST Bk     CRISIL A4      160     -
                                        Loan Fac
(Issuer not cooperating); Rating Migrated
Rakhoh Industries Pvt Ltd               LOC                CRISIL A4+     30      Assigned
Rakhoh Industries Pvt Ltd               BG                 CRISIL A4+     52.5    Assigned
SMRC Automotive Products India Pvt Ltd  BG                 CRISIL A1+     100     Reaffirmed
SMRC Automotive Products India Pvt Ltd  LOC                CRISIL A1+     50      Reaffirmed

LONG TERM RATINGS:
-------------------
Adarsh Heights Pvt Ltd                  LT Loan            CRISIL         720     -
                                                           BB+/Stable
Migrated from CRISIL B+/Stable (Issuer not cooperating)
AR Apparel                              TL                 CRISIL         7       Assigned
                                                           BB/Stable
AR Apparel                              Proposed LT Bk     CRISIL         17.8    Assigned
                                        Loan Fac           BB/Stable
AR Apparel                              Bill Discounting   CRISIL         20      Assigned
                                                           BB/Stable
Banaskantha District Co-Operative Milk  CC*                CRISIL         4000    -
Producers Union Ltd                                        AA+/Stable
*Cash credit is interchangeable with short-term loan
Banaskantha District Co-Operative Milk  LT Loan            CRISIL         3744.1  -
Producers Union Ltd                                        AA+/Stable
Banaskantha District Co-Operative Milk  Proposed LT Bk     CRISIL         255.9   -
Producers Union Ltd                     Loan Fac           AA+/Stable
Bharat Petroleum Corporation Ltd        FB Fac*            CRISIL         228550  Reaffirmed
                                                           AAA/Stable
*Rs 3690.0 crore is interchangeable with non-fund-based facilities
Bharat Petroleum Corporation Ltd        FB Fac#            CRISIL         99125   Reaffirmed
                                                           AAA/Stable
#Equivalent to USD 1625 million. 1 USD=INR 61
Bharat Petroleum Corporation Ltd        Proposed FB Bk     CRISIL         6100    Reaffirmed
                                        Limits             AAA/Stable
Bharat Petroleum Corporation Ltd        Proposed FB Bk     CRISIL         165615  Reaffirmed
                                        Limits$            AAA/Stable
$Equivalent to USD 2715 million. 1 USD=INR 61
Bharat Petroleum Corporation Ltd        NCD                CRISIL         15000   Reaffirmed
                                                           AAA/Stable
Bharat Petroleum Corporation Ltd        NCD                CRISIL         10000   Reaffirmed
                                                           AAA/Stable
Bharat Petroleum Corporation Ltd        NCD                CRISIL         10000   Reaffirmed
                                                           AAA/Stable
Dinesh Textile Mills                    Bill Discounting   CRISIL         100     -
                                                           BB+/Stable
Migrated from CRISIL BB/Stable (Issuer not cooperating)

Dinesh Textile Mills                    Proposed LT Bk     CRISIL         15      -
                                        Loan Fac           BB+/Stable
Migrated from CRISIL BB/Stable (Issuer not cooperating)
Dinesh Textile Mills                    TL                 CRISIL         25      -
                                                           BB+/Stable
Migrated from CRISIL BB/Stable (Issuer not cooperating)
Dr.D.Y.Patil Pratishthan                Overdraft          CRISIL         31      Reaffirmed
                                                           BBB/Stable
Dr.D.Y.Patil Pratishthan                Proposed LT Bk     CRISIL         570     Reaffirmed
                                        Loan Fac           BBB/Stable
Dr.D.Y.Patil Pratishthan                TL                 CRISIL         149     Reaffirmed
                                                           BBB/Stable
Ecoplast Ltd                            CC                 CRISIL         140     Reaffirmed
                                                           BBB-/Stable
Ecoplast Ltd                            LT Loan            CRISIL         38.5    Reaffirmed
                                                           BBB-/Stable
Essel Finance Business Loans Ltd        CC                 CRISIL D       85      -
Downgraded from CRISIL B+/Negative
Essel Finance Business Loans Ltd        Overdraft          CRISIL D       50      -
Downgraded from CRISIL B+/Negative
Essel Finance Business Loans Ltd        Proposed LT Bk     CRISIL D       1415    -
                                        Loan Fac
Downgraded from CRISIL B+/Negative
Essel Finance Business Loans Ltd        TL                 CRISIL D       450     -
Downgraded from CRISIL B+/Negative
Essel Finance Business Loans Ltd        NCD                CRISIL D       50      -
Downgraded from CRISIL B+/Negative
Essel Finance Business Loans Ltd        NCD                CRISIL D       200     -
Downgraded from CRISIL B+/Negative
Essel Finance Business Loans Ltd        Subordinated NCDs  CRISIL D       250     -
Downgraded from CRISIL B+/Negative
Esspal International Pvt Ltd            CC                 CRISIL         250     -
                                                           BB+/Stable
Downgraded from CRISIL BBB-/Stable
Esspal International Pvt Ltd            Rupee TL           CRISIL         90      -
                                                           BB+/Stable
Downgraded from CRISIL BBB-/Stable
Indira Enterprises                      Proposed Overdraft CRISIL         30      -
                                        Fac                B+/Stable
(Issuer not cooperating); Rating Migrated
Indira Enterprises                      Proposed TL        CRISIL         30      -
                                                           B+/Stable
(Issuer not cooperating); Rating Migrated
Indotech Industries India Pvt Ltd       CC                 CRISIL         50      -
                                                           BB-/Stable
(Issuer not cooperating); Rating Migrated
Indotech Industries India Pvt Ltd       TL                 CRISIL         6.1     -
                                                           BB-/Stable
(Issuer not cooperating); Rating Migrated
Innopus Software Solutions Pvt Ltd      Proposed LT Bk     CRISIL B/Stable50
                                        Loan Fac
(Issuer not cooperating); Rating Migrated
Jagat Agrotech Pvt Ltd                  CC                 CRISIL         150     -
                                                           BB-/Stable
(Issuer not cooperating); Rating Migrated
Jagat Agrotech Pvt Ltd                  LT Loan            CRISIL         50      -
                                                           BB-/Stable
(Issuer not cooperating); Rating Migrated
Jayachitra Garments                     Foreign Bill       CRISIL         55      -
                                        Discounting        BB+/Stable
Upgraded from CRISIL BB/Stable
Jayachitra Garments                     Proposed LT Bk     CRISIL         20      -
                                        Loan Fac           BB+/Stable
Upgraded from CRISIL BB/Stable
Jayachitra Garments                     TL                 CRISIL         3       -
                                                           BB+/Stable
Upgraded from CRISIL BB/Stable
Jiya Agro Pvt Ltd                       CC                 CRISIL         32.5    -
                                                           BB-/Stable
(Issuer not cooperating); Rating Migrated
Jiya Agro Pvt Ltd                       Proposed LT Bk     CRISIL         317.5   -
                                        Loan Fac           BB-/Stable
(Issuer not cooperating); Rating Migrated
Kohinoor Ropes Pvt Ltd                  CC                 CRISIL         180     Reaffirmed
                                                           BB+/Stable
Kohinoor Ropes Pvt Ltd                  Rupee TL           CRISIL         87.5    Reaffirmed
                                                           BB+/Stable
KUN Auto Company Pvt Ltd                CC                 CRISIL         105     Reaffirmed
                                                           BB+/Stable
KUN Auto Company Pvt Ltd                Inventory Funding  CRISIL         815     Reaffirmed
                                        Fac                BB+/Stable
Lucas-TVS Ltd                           CC                 CRISIL         940     Reaffirmed
                                                           AA+/Stable
Manaf P.B.                              BG                 CRISIL D       35      -
(Issuer not cooperating);Rating Migrated
Manaf P.B.                              CC                 CRISIL D       59      -
(Issuer not cooperating);Rating Migrated
Manaf P.B.                              Proposed LT Bk     CRISIL D       16      -
                                        Loan Fac
(Issuer not cooperating);Rating Migrated
Manorama Ropes India Pvt Ltd            CC                 CRISIL         200     Reaffirmed
                                                           BB+/Stable
Manorama Ropes India Pvt Ltd            Rupee TL           CRISIL         31      Reaffirmed
                                                           BB+/Stable
Megastar Foods Ltd                      CC                 CRISIL         250     -
                                                           BB+/Stable
(Issuer not cooperating); Rating Migrated
Megastar Foods Ltd                      TL                 CRISIL         34.2    -
                                                           BB+/Stable
(Issuer not cooperating); Rating Migrated
Metro Cash and Carry India Pvt Ltd      LT Loan            CRISIL A/Stable2700    Reaffirmed
Removed from Rating Watch with Negative Implications
Nirmitee Robotics India Pvt Ltd         Proposed LT Bk     CRISIL         100     Assigned
                                        Loan Fac           B+/Stable
Omar International Pvt Ltd              TL                 CRISIL         145     -
                                                           B+/Stable
(Issuer not cooperating); Rating Migrated
P G Industry Ltd                        CC                 CRISIL         150     -
                                                           BB-/Watch
                                                           Developing
Continues on Rating Watch with Developing Implications
P G Industry Ltd                        Foreign LOC        CRISIL         55      -
                                                           BB-/Watch
                                                           Developing
Continues on Rating Watch with Developing Implications
P G Industry Ltd                        Proposed LT Bk     CRISIL         20      -
                                        Loan Fac           BB-/Watch
                                                           Developing
Continues on Rating Watch with Developing Implications
Pam Tech                                CC                 CRISIL         52.5    -
                                                           BB/Stable
(Issuer not cooperating); Rating Migrated
Pam Tech                                TL                 CRISIL         7.5     -
                                                           BB/Stable
(Issuer not cooperating); Rating Migrated
Pavan Motors Pvt Ltd                    Inventory Funding  CRISIL         395     -
                                        Fac                BB-/Stable
(Issuer not cooperating); Rating Migrated
Pavan Motors Pvt Ltd                    Proposed Inventory CRISIL         220     -
                                        Funding            BB-/Stable
(Issuer not cooperating); Rating Migrated
Pavan Motors Pvt Ltd                    Proposed LT Bk     CRISIL         85      -
                                        Loan Fac           BB-/Stable
(Issuer not cooperating); Rating Migrated
Prashi Pharma Pvt Ltd                   LT Loan            CRISIL         39.4    -
                                                           BB-/Stable
(Issuer not cooperating); Rating Migrated
Prashi Pharma Pvt Ltd                   Proposed LT Bk     CRISIL         60.6    -
                                        Loan Fac           BB-/Stable
(Issuer not cooperating); Rating Migrated
Priceless Overseas Ltd                  CC                 CRISIL         75.5    -
                                                           BB-/Watch
                                                           Developing
Continues on Rating Watch with Developing Implications
Priceless Overseas Ltd                  Foreign LOC        CRISIL         49.5    -
                                                           BB-/Watch
                                                           Developing
Continues on Rating Watch with Developing Implications
Priyanjali Enterprises                  LT Loan            CRISIL B/Stable130     -
(Issuer not cooperating); Rating Migrated
R.N.K. Agro And Chemicals Pvt Ltd       CC                 CRISIL         100     -
                                                           BB/Stable
Migrated from CRISIL BB+/Stable (Issuer not cooperating)
R.N.K. Agro And Chemicals Pvt Ltd       Proposed LT Bk     CRISIL         20      -
                                        Loan Fac           BB/Stable
Migrated from CRISIL BB+/Stable (Issuer not cooperating)
Rakhoh Industries Pvt Ltd               CC                 CRISIL         110     Assigned
                                                           BB/Stable
Rohit Extractions Pvt Ltd               CC                 CRISIL         376     -
                                                           BB/Stable
Migrated from CRISIL BB+/Stable; (Issuer not cooperating)
Rohit Extractions Pvt Ltd               LT Loan            CRISIL         10      -
                                                           BB/Stable
Migrated from CRISIL BB+/Stable; (Issuer not cooperating)
Sai Baba Sales Pvt Ltd                  CC                 CRISIL         40      Reaffirmed
                                                           BB/Stable
Sai Baba Sales Pvt Ltd                  Inventory Funding  CRISIL         40      Reaffirmed
                                        Fac                BB/Stable
SMRC Automotive Products India Pvt Ltd  CC & WC demand loanCRISIL         300     Reaffirmed
                                                           AA-/Stable
SMRC Automotive Products India Pvt Ltd  Rupee TL           CRISIL         47.5    Reaffirmed
                                                           AA-/Stable
SMRC Automotive Products India Pvt Ltd  Proposed LT Bk     CRISIL         182.5   Reaffirmed
                                        Loan Fac           AA-/Stable
Srivi Exports And Imports Pvt Ltd       LT Loan            CRISIL         10      Reaffirmed
                                                           B+/Stable
Srivi Exports And Imports Pvt Ltd       Overdraft          CRISIL         60      Reaffirmed
                                                           B+/Stable
Valsad District Cooperative Milk        CC                 CRISIL         400     -
Producers Union Ltd                                        AA/Stable
Valsad District Cooperative Milk        LT Loan            CRISIL         2910    -
Producers Union Ltd                                        AA/Stable
Valsad District Cooperative Milk        Proposed LT Bk     CRISIL         540     -
Producers Union Ltd                     Loan Fac           AA/Stable
Valsad District Cooperative Milk        WC Fac             CRISIL         2000    -
Producers Union Ltd                                        AA/Stable
--------------------------------------------------------------------------------------------
$: 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)
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