October 17, 2019 / 8:48 AM / a month ago

CRISIL ratings for Indian debt instruments-Oct 17

    Oct 17 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of
India (CRISIL) for local debt instruments as of October 16, 2019.


COMPANY                                 INSTRUMENT         RATING         AMOUNT  MOVEMENT
                                                                        (RS.MLN)
------                                  ----------         ------         -----   ---------
SHORT TERM RATINGS:
-------------------
Bipha Drug Laboratories Pvt Ltd         BG                 CRISIL D       7.1     Downgraded
                                                                                  from CRISIL
                                                                                  A4
Chinsurah Cold Storage - Prop Bansidhar BG                 CRISIL A4      2.8     Reaffirmed
Agarwalla & Company Pvt Ltd
Ecomak Systems Pvt Ltd                  BG                 CRISIL A4+     35      Assigned
Ferns Packers                           Foreign LOC        CRISIL A4      20      Assigned
Fine Fragrances Pvt Ltd                 LOC                CRISIL A3+     30      Upgraded from
                                                                                  CRISIL A3
Garuda Aviation Services Pvt Ltd        BG                 CRISIL A4      120     Downgraded
                                                                                  from CRISIL
                                                                                  A4+
Namdhari Seeds Pvt Ltd                  Packing Credit in  CRISIL A2+     490     Reaffirmed
                                        Foreign Currency
Somnath Cold Storage Pvt Ltd            BG                 CRISIL A4      4.4     Reaffirmed
United Builders                         BG                 CRISIL A4+     50      Reaffirmed
V. Jayantilal and Co.                   Bill Discounting   CRISIL A4      110     Reaffirmed
V. Jayantilal and Co.                   Packing Credit     CRISIL A4      70      Reaffirmed
Vicky Fashion Ltd                       Packing Credit     CRISIL A4+     20      Reaffirmed

LONG TERM RATINGS:
-------------------
Anupam Cold Storage Pvt Ltd             CC                 CRISIL         3       Reaffirmed
                                                           B+/Stable
Anupam Cold Storage Pvt Ltd             FB Fac             CRISIL         46      Reaffirmed
                                                           B+/Stable
Anupam Cold Storage Pvt Ltd             Proposed LT Bk     CRISIL         2       Reaffirmed
                                        Loan Fac           B+/Stable
Apollo Cvhf Ltd                         CC/ Overdraft Fac  CRISIL         50      Assigned
                                                           BBB/Stable
Apollo Cvhf Ltd                         LT Bk Fac          CRISIL         300     Assigned
                                                           BBB/Stable
Benchmark IT Solutions India Pvt Ltd    Rupee TL           CRISIL D       100     Reaffirmed
Bipha Drug Laboratories Pvt Ltd         CC                 CRISIL D       35.3    Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
Bipha Drug Laboratories Pvt Ltd         LT Loan            CRISIL D       27.6    Downgraded
                                                                                  from CRISIL
                                                                                  B/Stable
Career Educational Society              Proposed LT Bk     CRISIL         100     Assigned
                                        Loan Fac           B+/Stable
Chinsurah Cold Storage - Prop Bansidhar CC                 CRISIL         40      Reaffirmed
Agarwalla & Company Pvt Ltd                                B+/Stable
Chinsurah Cold Storage - Prop Bansidhar Proposed LT Bk     CRISIL         3.7     Reaffirmed
Agarwalla & Company Pvt Ltd             Loan Fac           B+/Stable
Chinsurah Cold Storage - Prop Bansidhar TL                 CRISIL         7.5     Reaffirmed
Agarwalla & Company Pvt Ltd                                B+/Stable
Chinsurah Cold Storage - Prop Bansidhar WC Loan            CRISIL         9.6     Reaffirmed
Agarwalla & Company Pvt Ltd                                B+/Stable
Ecomak Systems Pvt Ltd                  Proposed WC Fac    CRISIL         159.9   Assigned
                                                           BB/Stable
Ecomak Systems Pvt Ltd                  CC                 CRISIL         5.1     Assigned
                                                           BB/Stable
Ferns Packers                           TL                 CRISIL         33.8    Assigned
                                                           B+/Stable
Ferns Packers                           Proposed LT Bk     CRISIL         4.3     Assigned
                                        Loan Fac           B+/Stable
Ferns Packers                           CC                 CRISIL         39.9    Assigned
                                                           B+/Stable
Fine Fragrances Pvt Ltd                 CC                 CRISIL         120     Upgraded from
                                                           BBB/Stable             CRISIL
                                                                                  BBB-/Stable)
Garuda Aviation Services Pvt Ltd        Overdraft          CRISIL         130     Downgraded
                                                           B+/Stable              from CRISIL
                                                                                  BB-/Stable
Garuda Aviation Services Pvt Ltd        Proposed LT Bk     CRISIL         60      Downgraded
                                        Loan Fac           B+/Stable              from CRISIL
                                                                                  BB-/Stable
Himghar Udyog Pvt Ltd                   CC                 CRISIL         49.7    Reaffirmed
                                                           B+/Stable
Himghar Udyog Pvt Ltd                   Proposed LT Bk     CRISIL         21.4    Reaffirmed
                                        Loan Fac           B+/Stable
Himghar Udyog Pvt Ltd                   TL                 CRISIL         37.5    Reaffirmed
                                                           B+/Stable
Himghar Udyog Pvt Ltd                   WC Loan            CRISIL         9.2     Reaffirmed
                                                           B+/Stable
Namdhari Seeds Pvt Ltd                  CC                 CRISIL         490     Reaffirmed
                                                           A-/Negative
Namdhari Seeds Pvt Ltd                  TL                 CRISIL         390     Reaffirmed
                                                           A-/Negative
Shree Hazarilal Cold Storage Pvt Ltd    CC                 CRISIL         49.1    Reaffirmed
                                                           B+/Stable
Shree Hazarilal Cold Storage Pvt Ltd    WC Loan            CRISIL         9.6     Reaffirmed
                                                           B+/Stable
Somnath Cold Storage Pvt Ltd            CC                 CRISIL         85      Reaffirmed
                                                           B+/Stable
Somnath Cold Storage Pvt Ltd            LT Loan            CRISIL         15      Reaffirmed
                                                           B+/Stable
Somnath Cold Storage Pvt Ltd            Proposed LT Bk     CRISIL         6.3     Reaffirmed
                                        Loan Fac           B+/Stable
Somnath Cold Storage Pvt Ltd            WC Loan            CRISIL         17.9    Reaffirmed
                                                           B+/Stable
Turbo Industries                        CC                 CRISIL         45      Assigned
                                                           B+/Stable
Turbo Industries                        Proposed FB Bk     CRISIL         10      Assigned
                                        Limits             B+/Stable
United Builders                         CC                 CRISIL         40      Reaffirmed
                                                           BB/Stable
United Builders                         Proposed LT Bk     CRISIL         10      Reaffirmed
                                        Loan Fac           BB/Stable
Vicky Fashion Ltd                       Bill Discounting   CRISIL         5       Reaffirmed
                                                           BB/Stable
Vicky Fashion Ltd                       Overdraft          CRISIL         110     Reaffirmed
                                                           BB/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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