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CRISIL ratings for Indian debt instruments-Nov 7
November 7, 2017 / 4:47 AM / 17 days ago

CRISIL ratings for Indian debt instruments-Nov 7

    Nov 7 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of November 6, 2017.


COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Assorted Food Packers Pvt Ltd           Packing Credit     CRISIL A4      44      Assigned
Assorted Food Packers Pvt Ltd           Overdraft          CRISIL A4      1       Assigned
Assorted Food Packers Pvt Ltd           Bill Purchase      CRISIL A4      5       Assigned
Assorted Food Packers Pvt Ltd           LOC                CRISIL A4      10      Assigned
Avanse Financial Services Ltd           CP Programme       CRISIL A1+     3000    Reaffirmed
 (Enhanced From Rs.200 Crore)
B Satyanarayana Reddy                   BG                 CRISIL A4      25      Assigned
Bharat Cartons Printers                 Overdraft          CRISIL A4+     10      Reaffirmed
Chenduran Cotspin India Pvt Ltd         BG                 CRISIL A4+     8.5     Reaffirmed
Chenduran Cotspin India Pvt Ltd         LOC                CRISIL A4+     85      Reaffirmed
Elkaypee Spinners Pvt Ltd               LOC                CRISIL A4+     13      Reaffirmed
Italva Woods Industries                 BG                 CRISIL A4      5       Reaffirmed
KNK Construction Pvt Ltd                BG                 CRISIL A3      400     Reaffirmed
Leon Food Products Pvt Ltd              BG                 CRISIL A4+     2.5     Upgraded from
                                                                                  CRISIL A4
Leon Food Products Pvt Ltd              LOC                CRISIL A4+     15      Upgraded from
                                                                                  CRISIL A4
Logan Ceramic                           BG                 CRISIL A4+     17      Reaffirmed
Mech Well Industries Ltd                BG                 CRISIL A4+     75      Reaffirmed
Mech Well Industries Ltd                LOC                CRISIL A4+     25      Reaffirmed
Oceanic Pharmachem Pvt Ltd              Packing Credit in  CRISIL A2      120     Assigned
                                        Foreign Currency
Oceanic Pharmachem Pvt Ltd              Bill Negotiation   CRISIL A2      200     Assigned
Oricon Enterprises Ltd                  LOC                CRISIL A2+     150     Reaffirmed
Oriental Containers Ltd                 LOC                CRISIL A2+     900     Reaffirmed
Parishi Diamond - Surat                 Post Shipment      CRISIL A3+     852.5   Reaffirmed
                                        Credit
Parishi Diamond - Surat                 Pre Shipment CreditCRISIL A3+     60      Reaffirmed
R A Kraft Paper Pvt Ltd                 LOC                CRISIL A4+     50      Reaffirmed
R.P. Infraventure Pvt Ltd               BG                 CRISIL A4+     400     Upgraded from
                                                                                  CRISIL A4
Sri Gopikrishna Infrastructure Pvt Ltd  BG                 CRISIL A2+     4290    Reaffirmed
Sri Gopikrishna Infrastructure Pvt Ltd  LOC                CRISIL A2+     1110    Reaffirmed
Sri Gopikrishna Infrastructure Pvt Ltd  Proposed ST Bk     CRISIL A2+     250     Reaffirmed
                                        Loan Fac
Sri Sainath Constructions               BG                 CRISIL A4+     63      Reaffirmed
Surya Roshni Ltd                        CP                 Provisional    1000    Assigned^
                                                           CRISIL A1+(SO) 
^A prefix of 'Provisional' indicates that the rating centrally factors in the strength of
specific structures, and will be supported by certain critical documentation by the issuer,
without which the rating would either have been different or not assigned ab initio. This is in
compliance with a May 6, 2015, directive by the Securities and Exchange Board of India (SEBI),
'Standardising the term, rating symbol, and manner of disclosure with regard to conditional/
provisional/ in-principle ratings assigned by credit rating agencies (CRAs)
Triveni Smelters Pvt Ltd                LOC                CRISIL A4+     50      Assigned
Vinita Synthetic Industries Pvt Ltd     LOC                CRISIL A4+     60      Assigned
VIP Clothing Ltd                        BG                 CRISIL A3      13.5    Reaffirmed
VIP Clothing Ltd                        Foreign Exchange   CRISIL A3      5       Reaffirmed
                                        Forward
VIP Clothing Ltd                        LOC                CRISIL A3      260     Reaffirmed

LONG TERM RATINGS:
-------------------
Abhilasha Jewellers Pvt Ltd             CC                 CRISIL BB+     680     Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Issuer Not Cooperating
Apotex Pharmachem India Pvt Ltd         Packing Credit in  CRISIL C       320     Downgraded
                                        Foreign Currency                          from CRISIL
                                                                                  BBB+
B Satyanarayana Reddy                   Proposed LT Bk     CRISIL B+      55      Assigned
                                        Loan Fac
B Satyanarayana Reddy                   CC                 CRISIL B+      20      Assigned
Bharat Cartons Printers                 CC                 CRISIL BB      70      Reaffirmed
Bharat Cartons Printers                 LT Loan            CRISIL BB      10      Reaffirmed
Bharat Cartons Printers                 Proposed LT Bk     CRISIL BB      20      Reaffirmed
                                        Loan Fac
Chenduran Cotspin India Pvt Ltd         CC                 CRISIL BB+     215     Reaffirmed
Chenduran Cotspin India Pvt Ltd         External           CRISIL BB+     18      Reaffirmed
                                        Commercial
                                        Borrowings
Chenduran Cotspin India Pvt Ltd         LT Loan            CRISIL BB+     77.6    Reaffirmed
Chenduran Cotspin India Pvt Ltd         Proposed WC Fac    CRISIL BB+     5.9     Reaffirmed
Elkaypee Spinners Pvt Ltd               CC                 CRISIL BB+     60      Reaffirmed
Elkaypee Spinners Pvt Ltd               LT Loan            CRISIL BB+     40      Reaffirmed
Elkaypee Spinners Pvt Ltd               Proposed LT Bk     CRISIL BB+     17      Reaffirmed
                                        Loan Fac
Indian Bank                             Tier-I Bonds       CRISIL AA+     10000   Reaffirmed
                                        (Under Basel III)
Indian Bank                             Infrastructure     CRISIL AAA     10000   Assigned
                                        bonds
Indian Bank                             Tier-II Bonds      CRISIL AAA     10000   Reaffirmed
                                        (Under Basel III)
Indian Bank                             Upper Tier-II      CRISIL AAA     5000    Reaffirmed
                                        Bonds (Under Basel
                                        II)
Indian Bank                             Lower Tier-II      CRISIL AAA     5000    Reaffirmed
                                        Bonds (Under Basel
                                        II)
Italva Woods Industries                 CC                 CRISIL B       30      Reaffirmed
Italva Woods Industries                 TL                 CRISIL B       122.5   Reaffirmed

KNK Construction Pvt Ltd                Overdraft          CRISIL BBB-    150     Reaffirmed
KNK Construction Pvt Ltd                Proposed LT Bk     CRISIL BBB-    50      Reaffirmed
                                        Loan Fac
KNK Construction Pvt Ltd                Proposed WC Fac    CRISIL BBB-    600     Reaffirmed
Leon Food Products Pvt Ltd              CC                 CRISIL BB-     30      Upgraded from
                                                                                  CRISIL B+
Leon Food Products Pvt Ltd              LT Loan            CRISIL BB-     35      Upgraded from
                                                                                  CRISIL B+
Leon Food Products Pvt Ltd              Proposed LT Bk     CRISIL BB-     17.5    Upgraded from
                                        Loan Fac                                  CRISIL B+
Leon Food Products Pvt Ltd              TL                 CRISIL BB-     70      Upgraded from
                                                                                  CRISIL B+
Logan Ceramic                           CC                 CRISIL BB-     40      Reaffirmed
Logan Ceramic                           TL                 CRISIL BB-     72.5    Reaffirmed
Mahesh Edible Oil Industries Ltd        CC                 CRISIL A-      2300    Reaffirmed
Mahesh Edible Oil Industries Ltd        Warehouse FinancingCRISIL A-      450     Reaffirmed
Mech Well Industries Ltd                CC                 CRISIL BB-     60      Reaffirmed
Model Rag Exports                       CC                 CRISIL B       70      Reaffirmed
N.S. Cashew Company                     CC                 CRISIL BB-     25      Upgraded from
                                                                                  CRISIL B
Issuer Not Cooperating
N.S. Cashew Company                     Foreign Bill       CRISIL BB-     5       Upgraded from
                                        Discounting                               CRISIL B
Issuer Not Cooperating
N.S. Cashew Company                     Packing Credit     CRISIL BB-     60      Upgraded from
                                                                                  CRISIL B
Issuer Not Cooperating
N.S. Cashew Company                     Proposed LT Bk     CRISIL BB-     35      Upgraded from
                                        Loan Fac                                  CRISIL B
Issuer Not Cooperating
Oceanic Pharmachem Pvt Ltd              CC                 CRISIL BBB     110     Assigned
Oricon Enterprises Ltd                  CC                 CRISIL A-      100     Reaffirmed
Oriental Containers Ltd                 CC                 CRISIL A-      600     Reaffirmed
Parishi Diamond - Surat                 Export Packing     CRISIL BBB     77.5    Reaffirmed
                                        Credit
Prakash Gold Palace Pvt Ltd             CC                 CRISIL BB+     1761.2  Downgraded
                                                                                  from CRISIL
                                                                                  BBB
Issuer Not Cooperating
R A Kraft Paper Pvt Ltd                 Bill Discounting   CRISIL BB+     20      Reaffirmed
R A Kraft Paper Pvt Ltd                 CC                 CRISIL BB+     90      Reaffirmed
R.P. Infraventure Pvt Ltd               CC                 CRISIL BB-     100     Upgraded from
                                                                                  CRISIL B+
Royale Marine Impex Pvt. Ltd.           Export Packing     CRISIL BB      350     Reaffirmed
                                        Credit
Royale Marine Impex Pvt. Ltd.           LT Loan            CRISIL BB      60      Reaffirmed
Royale Marine Impex Pvt. Ltd.           Proposed LT Bk     CRISIL BB      150     Reaffirmed
                                        Loan Fac
Sri Gopikrishna Infrastructure Pvt Ltd  CC                 CRISIL A-      500     Reaffirmed
Sri Jaibalaji Steel Rolling Mills Pvt   CC                 CRISIL B-      135     Downgraded
Ltd                                                                               from CRISIL B+
Sri Jaibalaji Steel Rolling Mills Pvt   Proposed FB Bk     CRISIL B-      45      Downgraded
Ltd                                     Limits                                    from CRISIL B+
Sri Sainath Constructions               CC                 CRISIL BB+     16      Upgraded from
                                                                                  CRISIL BB
Sri Sainath Constructions               Proposed LT Bk     CRISIL BB+     31      Reaffirmed
                                        Loan Fac
Triveni Smelters Pvt Ltd                CC                 CRISIL BB+     110     Assigned
Vinita Synthetic Industries Pvt Ltd     Proposed LT Bk     CRISIL BB-     6       Reaffirmed
                                        Loan Fac
Vinita Synthetic Industries Pvt Ltd     TL                 CRISIL BB-     49      Reaffirmed
VIP Clothing Ltd                        CC                 CRISIL BBB-    796.5   Reaffirmed
VIP Clothing Ltd                        Proposed LT Bk     CRISIL BBB-    59      Reaffirmed
                                        Loan Fac
VIP Clothing Ltd                        Standby Line of    CRISIL BBB-    50      Reaffirmed
                                        Credit
VIP Clothing Ltd                        TL                 CRISIL BBB-    50      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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