October 14, 2019 / 9:13 AM / 2 months ago

CRISIL ratings for Indian debt instruments-Oct 14

    Oct 14 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of October 11, 2019.

    
COMPANY                               INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Aggarwal and Company - Bhavnagar        LOC                CRISIL A4+     100     Reaffirmed
AIREF Engineers Pvt Ltd                 BG                 CRISIL A2+     660     Reaffirmed
Aqua Alloys Pvt Ltd                     BG                 CRISIL A3      40      Reaffirmed
Aqua Alloys Pvt Ltd                     Foreign            CRISIL A3      10      Reaffirmed
                                        Discounting Bill
                                        Purchase
Aqua Alloys Pvt Ltd                     Inland/Import LOC  CRISIL A3      10      Reaffirmed
Aqua Alloys Pvt Ltd                     Packing Credit     CRISIL A3      20      Reaffirmed
Aqua Alloys Pvt Ltd                     Sales Bill         CRISIL A3      20      Reaffirmed
                                        Discounting
B. Patel Infrastructure Pvt Ltd         BG                 CRISIL A4+     230     Reaffirmed
Commercial Syn Bags Ltd                 BG                 CRISIL A3+     45      Reaffirmed
                                                                                  and Withdrawn
Commercial Syn Bags Ltd                 Export Packing     CRISIL A3+     215.5   Reaffirmed
                                        Credit                                    and Withdrawn
Commercial Syn Bags Ltd                 LOC                CRISIL A3+     10      Reaffirmed
                                                                                  and Withdrawn
Commercial Syn Bags Ltd                 LOC & BG           CRISIL A3+     50      Reaffirmed
                                                                                  and Withdrawn
Emmbros Autocomp Ltd                    BG                 CRISIL A3      1.2
Migrated from CRISIL A4+ (Issuer not cooperating)
Guru Ashish Shipbreakers                LOC                CRISIL A4+     660     Reaffirmed
Hans Industries Pvt Ltd                 BG                 CRISIL A4+     120     Reaffirmed
Hans Industries Pvt Ltd                 LOC                CRISIL A4+     100     Reaffirmed
IKAA Granito Pvt Ltd                    BG                 CRISIL A4+     40      Reaffirmed
Karolia Lighting Pvt Ltd                BG                 CRISIL A3      15
Upgraded from CRISIL A4+
Karolia Lighting Pvt Ltd                LOC                CRISIL A3      10
Upgraded from CRISIL A4+
Krishnaping Alloys Ltd                  LOC                CRISIL A4+     200     Reaffirmed
Krishnaping Minerals Pvt Ltd            LOC                CRISIL A4+     150     Reaffirmed
Maithan Steel and Power Ltd             LOC & BG           CRISIL A3+     300     Assigned
Maithan Steel and Power Ltd             CP                 CRISIL A3+     200     Assigned
Milestones Engineering Pvt Ltd          BG                 CRISIL A4+     50      Reaffirmed
Milestones Engineering Pvt Ltd          LOC                CRISIL A4+     2.5     Reaffirmed
Milestones Switchgears Pvt Ltd          BG                 CRISIL A3      52.5
Upgraded from CRISIL A4+
NCTI Llp                                BG                 CRISIL A4+     30      Assigned
Parshotam Lal & Co.                     Letter Of GuaranteeCRISIL A4+     5       Reassigned
Sanzyme Biologics Pvt Ltd               LOC & BG           CRISIL A1      28      Reaffirmed
Sanzyme Pvt Ltd                         Inland/Import LOC  CRISIL A1      120     Reaffirmed
Sastasundar Healthbuddy Ltd             BG                 CRISIL A4      10      Reaffirmed
Sharmili Spices Pvt Ltd                 Foreign Bill       CRISIL A4+     100     Reaffirmed
                                        Purchase
Sharmili Spices Pvt Ltd                 Packing Credit     CRISIL A4+     70      Reaffirmed
United Coke Pvt Ltd                     LOC                CRISIL A4+     300     Reaffirmed

Agrawal Iron & Industries               CC                 CRISIL D       26.8
Downgraded from CRISIL B/Stable
Agrawal Iron & Industries               LT Loan            CRISIL D       120
Downgraded from CRISIL B/Stable
Agrawal Iron & Industries               Proposed LT Bk     CRISIL D       3.2

LONG TERM RATINGS:
-------------------
Aarna Foundation                        Proposed LT Bk     CRISIL         10      Assigned
                                        Loan Fac           B+/Stable
Aggarwal and Company - Bhavnagar        CC                 CRISIL         100     Reaffirmed
                                                           BB+/Stable
                                        Loan Fac
Downgraded from CRISIL B/Stable
AIREF Engineers Pvt Ltd                 Proposed LT Bk     CRISIL         340     Reaffirmed
                                        Loan Fac           BBB+/Negative
Anil Corner                             CC                 CRISIL B/Stable65
Downgraded from CRISIL B+/Stable
Annapurna Finance Pvt Ltd               LT Bk Fac          CRISIL         2000    Reaffirmed
                                                           A-/Stable
Annapurna Finance Pvt Ltd               Proposed LT Bk     CRISIL         9000    Reaffirmed
                                        Loan Fac           A-/Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL         730     Assigned
                                                           A-/Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL         700     Reaffirmed
                                                           A-/Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL         400     Reaffirmed
                                                           A-/Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL         300     Reaffirmed
                                                           A-/Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL         1000    Reaffirmed
                                                           A-/Stable
Annapurna Finance Pvt Ltd               NCD                CRISIL         1460    Reaffirmed
                                                           A-/Stable
Aqua Alloys Pvt Ltd                     CC                 CRISIL         40      Reaffirmed
                                                           BBB-/Stable
Aqua Alloys Pvt Ltd                     Proposed LT Bk     CRISIL         30      Reaffirmed
                                        Loan Fac           BBB-/Stable
B. Patel Infrastructure Pvt Ltd         CC                 CRISIL         65      Reaffirmed
                                                           BB/Stable

B. Patel Infrastructure Pvt Ltd         Proposed LT Bk     CRISIL         5       Reaffirmed
                                        Loan Fac           BB/Stable
Chhaya - Lucknow                        Proposed LT Bk     CRISIL         10      Assigned
                                        Loan Fac           B+/Stable
Commercial Syn Bags Ltd                 CC                 CRISIL         106.5   Reaffirmed
                                                           BBB/Stable             and Withdrawn
Commercial Syn Bags Ltd                 Proposed WC Fac    CRISIL         14.5    Reaffirmed
                                                           BBB/Stable             and Withdrawn
Commercial Syn Bags Ltd                 TL                 CRISIL         273.5   Reaffirmed
                                                           BBB/Stable             and Withdrawn
Designmate India Pvt Ltd                Overdraft          CRISIL D       110
Downgraded from CRISIL B-/Stable
Emmbros Autocomp Ltd                    CC                 CRISIL         90
                                                           BBB-/Stable
Migrated from CRISIL BB+/Stable (Issuer not cooperating)
Emmbros Autocomp Ltd                    LT Loan            CRISIL         221
                                                           BBB-/Stable
Migrated from CRISIL BB+/Stable (Issuer not cooperating)
Emmbros Autocomp Ltd                    Proposed LT Bk     CRISIL         47.8
                                        Loan Fac           BBB-/Stable
Migrated from CRISIL BB+/Stable (Issuer not cooperating)
ESS AAR Automotive Pvt Ltd              FB Fac             CRISIL         200     Reaffirmed
                                                           BB-/Stable
Guru Ashish Shipbreakers                CC                 CRISIL         90      Reaffirmed
                                                           BB+/Stable
Hans Industries Pvt Ltd                 CC                 CRISIL         350     Reaffirmed
                                                           BB+/Stable
IKAA Granito Pvt Ltd                    CC                 CRISIL         120
                                                           BB/Stable
Upgraded from CRISIL BB-/Stable
IKAA Granito Pvt Ltd                    TL                 CRISIL         272.7
                                                           BB/Stable
Upgraded from CRISIL BB-/Stable
Jagdhatri Papers Pvt Ltd                CC                 CRISIL         145     Reaffirmed
                                                           BB+/Stable
Jagdhatri Papers Pvt Ltd                LT Loan            CRISIL         5       Reaffirmed
                                                           BB+/Stable
Karolia Lighting Pvt Ltd                CC                 CRISIL         75
                                                           BBB-/Stable
Upgraded from CRISIL BB+/Stable
Karolia Lighting Pvt Ltd                Proposed LT Bk     CRISIL         20
                                        Loan Fac           BBB-/Stable
Upgraded from CRISIL BB+/Stable
Krishnaping Alloys Ltd                  CC                 CRISIL         150
                                                           BB/Stable
Upgraded from CRISIL BB-/Stable
Krishnaping Minerals Pvt Ltd            CC                 CRISIL         150
                                                           BB/Stable
Maithan Steel and Power Ltd             Proposed LT Bk     CRISIL         870     Assigned
                                        Loan Fac           BBB/Stable
Maithan Steel and Power Ltd             Proposed CC Limit  CRISIL         102.4   Assigned
                                                           BBB/Stable
Maithan Steel and Power Ltd             LT Loan            CRISIL         123.6   Assigned
                                                           BBB/Stable
Maithan Steel and Power Ltd             CC                 CRISIL         544     Assigned
                                                           BBB/Stable
Milestones Engineering Pvt Ltd          CC                 CRISIL         12      Reaffirmed
                                                           BB+/Stable
Milestones Engineering Pvt Ltd          Proposed LT Bk     CRISIL         10.5    Reaffirmed
                                        Loan Fac           BB+/Stable
Milestones Switchgears Pvt Ltd          CC                 CRISIL         17.5
                                                           BBB-/Stable
Upgraded from CRISIL BB+/Stable
Milestones Switchgears Pvt Ltd          Proposed LT Bk     CRISIL         20
                                        Loan Fac           BBB-/Stable
Upgraded from CRISIL BB+/Stable
NCTI Llp                                Proposed LT Bk     CRISIL         10      Assigned
                                        Loan Fac           BB/Stable
NCTI Llp                                CC                 CRISIL         60      Assigned
                                                           BB/Stable
Parshotam Lal & Co.                     CC*                CRISIL         120     Reaffirmed
                                                           BB-/Stable
* Packing Credit of Rs. 7 crore is a sub-limit of cash credit limit.
S V Engineering Constructions India Pvt CC                 CRISIL B/Stable35
Ltd
Assigned; Suspension Revoked  
S V Engineering Constructions India Pvt Proposed LT Bk     CRISIL B/Stable65
Ltd                                     Loan Fac
Assigned; Suspension Revoked  
Sanzyme Biologics Pvt Ltd               CC                 CRISIL         72
                                                           A+/Stable
Upgraded from CRISIL A/Positive
Sanzyme Biologics Pvt Ltd               Proposed LT Bk     CRISIL         220
                                        Loan Fac           A+/Stable
Sanzyme Pvt Ltd                         CC                 CRISIL         100
                                                           A+/Stable
Upgraded from CRISIL A/Positive
Sanzyme Pvt Ltd                         Proposed LT Bk     CRISIL         450
                                        Loan Fac           A+/Stable
Upgraded from CRISIL A/Positive
Sastasundar Healthbuddy Ltd             CC                 CRISIL B/Stable200
Downgraded from CRISIL B+/Stable
Sastasundar Healthbuddy Ltd             Proposed CC Limit  CRISIL B/Stable40
Downgraded from CRISIL B+/Stable
Shoppers International Malls Pvt Ltd    Cash TL            CRISIL D       270
Downgraded from CRISIL B-/Stable
Sujan Cooper Standard AVS Pvt Ltd       CC                 CRISIL         343.2
                                                           BBB-/Stable
Removed from Rating Watch with Negative Implications; Rating Reaffirmed 
Sujan Cooper Standard AVS Pvt Ltd       TL                 CRISIL         341.8
                                                           BBB-/Stable
Removed from Rating Watch with Negative Implications; Rating Reaffirmed 
SVS Marine Services Pvt Ltd             CC                 CRISIL         47.5    Reaffirmed
                                                           BB+/Stable
SVS Marine Services Pvt Ltd             Cash TL            CRISIL         26      Reaffirmed
                                                           BB+/Stable
SVS Marine Services Pvt Ltd             Proposed FB Bk     CRISIL         212.2   Reaffirmed
                                        Limits             BB+/Stable
SVS Marine Services Pvt Ltd             TL                 CRISIL         218.5   Reaffirmed
                                                           BB+/Stable
Swadeshi Textiles Pvt Ltd               CC                 CRISIL         100     Reaffirmed
                                                           BB-/Stable
T K Precision Pvt Ltd                   CC                 CRISIL         25
                                                           BB-/Stable
Downgraded from CRISIL BB/Stable
T K Precision Pvt Ltd                   TL                 CRISIL         165
                                                           BB-/Stable
Downgraded from CRISIL BB/Stable
Tirumalai Textiles                      CC                 CRISIL         45      Reaffirmed
                                                           BB/Stable
Tirumalai Textiles                      Proposed LT Bk     CRISIL         20      Reaffirmed
                                        Loan Fac           BB/Stable
United Coke Pvt Ltd                     CC                 CRISIL         50      Reaffirmed
                                                           BB+/Stable
VST Spintex India Pvt Ltd               Bill Discounting   CRISIL         10      Reaffirmed
                                                           BB-/Stable
VST Spintex India Pvt Ltd               CC                 CRISIL         153.6   Reaffirmed
                                                           BB-/Stable
VST Spintex India Pvt Ltd               Proposed LT Bk     CRISIL         15.5    Reaffirmed
                                        Loan Fac           BB-/Stable
VST Spintex India Pvt Ltd               TL                 CRISIL         4.3     Reaffirmed
                                                           BB-/Stable
Windar Renewable Energy Pvt Ltd         Proposed LT Bk     CRISIL         200
                                        Loan Fac           BBB/Stable
Rating Withdrawn
Windar Renewable Energy Pvt Ltd         TL                 CRISIL         310
                                                           BBB/Stable
Rating Withdrawn
Yuwak Vikas Samiti                      Proposed LT Bk     CRISIL         10      Assigned
                                        Loan Fac           B+/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)
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